Cat Block #4: The Tokenomics of $CTNP and $NYN
Good Morning, Nyan Army!
Today, I want to talk about the tokenomics revolving around our tokens, $CTNP and $NYN. You might recall that we published an article in April detailing the specifics of our tokenomics model. This article is a refresher to our OG’s and an introduction for the new members in our project.
In today’s Cat Block, I’ll be teaching you about our Governance Token, In-game Utility Token, and the process that follows both of them.
Our core beliefs for a sustainable and strong tokenomics model are:
- Secure and fast real-time transactions
- Player owned and controlled assets
- In-game economy that is protected from volatility of market speculation
- Revenue opportunities for free and invested users
- Fair rewards and incentives based on ecosystem contribution
- Environmentally conscious and sustainable
$NYN Token — The Governance Token
The $NYN Token is our native token used for governance, staking, and payments for marketplace transactions. $NYN is one of the assets that will be used to overcollateralize our in-game stable token, $CTNP.
Our Algorithmic protocol uses efficient market forces to allow arbitrage traders to maintain $CTNP at it’s pegged value.
There is a fixed supply of 1,000,000,000 $NYN.
$CTNP — The In-Game Utility Token
The $CTNP token is earned from our staking expeditions and in-game rewards. It can be used to purchase in-game items and upgrades. $CTNP is a stable coin that powers our in-game economy.
$CTNP will be overcollateralized by our USDC reserves but may shift to other assets as we grow, including but not limited to, $NYN. This process of overcollateralization ensures that $CTNP’s value remains stable, regardless of market conditions.
Some of the uses of $CTNP include:
- Gear Upgrades
- Cosmetics for your Guardian and Weapons
- Upgrading your Guardians
- Player-centric markets and trading
- Minting new Characters and Items
Rest assured, our tokenomics and in-game economy will be secure, robust, and sustainable. We recently hired a Lead Economist with over 11+ years of experience to design our in-game economy.
Thank you for reading today’s Cat Block, stay safe out there Nyan Army!