$PEEL is the governance as well as the native gas token of Meta Apes (minted on Ape Chain). $PEEL was created to uphold the following goals & objectives:
- To enable our players & community to have skin in the game (literally & figuratively) and participate in the decision-making of the trajectory of the game they love
- To align our vision, values & incentives with those of our token holders and reward them for being long-term supporters
- To decentralize the ownership & governance of Meta Apes
The Meta Apes token economy is designed such that all of the revenue & value generated inside the game accrue to our governance token holders, even including the gas fees as we operate on our own chain. Below are some of the use cases for $PEEL:
- NFT purchases/trades
- Performance-based rewards (i.e., rewards for top performing gangs & players)
- Select critical in-game activities (e.g, final upgrade of NFT fighters, etc.)
- Gas fees
- Staking & in-game validators
- Governance & Voting
- In-game purchases, including SHELL packages.
The exact governance & voting structure is being finalized, but our governance token holders will be able to determine what to do with the proceeds (i.e., buyback, burn, etc.).
There is a maximum supply of 1,000,000,000 $PEEL.
The initial circulating supply at launch is set to 25,000,000, representing 2.5% of the total supply, and the token unlock/distribution will last for 66 months following the public sale. The token distribution & schedule is as follows:
- Team: Core team that has led & invested in the game development
- Ecosystem Fund: Fund to continue growing the Meta Apes ecosystem/community
- Private Sale: Allocation earmarked for value additive individual & institutional partners
- Public Sale: Initial sale of tokens to the public
- Community Rewards: Reward for select activities within the game/ecosystem, such as being a top performing player/gang (i.e., launching the rocket), competing/winning in future tournaments & actively participating in our community/gang activities
- Marketing/Liquidity: Reserved for general marketing initiatives or liquidity bootstrapping
- Early User Rewards: Reward for early supporters, including those that have participated in Early Access Alpha & Testnet Beta testing
- Staking Rewards: Reward for community members who lock up their PEEL tokens & showing support for the project’s long-term success
- Syrup Pool Rewards: Syrup pool rewards on PancakeSwap IFO