$MGS
The Utility Token of The Magus World
Last updated
The Utility Token of The Magus World
Last updated
$MGS is an ERC20 utility token for The Magus World. $MGS will serve as the medium of exchange for our marketplace. The items that can be purchased from our marketplace with $MGS include WL from various projects and trading tools as well.
The total supply of the $MGS token is 200 million and will be pre-minted in our Magus Vault.
Here is the breakdown of our $MGS supply allocation:
50% Staking - 100 million of $MGS supply will be available for holders to claim when they stake their NFTs.
20% Liquidity Pool - 20% of supply will be set aside for our liquidity pool. The pool will open up with 50% of its supply, which is 20 million $MGS. More $MGS will be fed into the pool when needed.
15% Deflationary Protection - This amount of supply will be set aside for burning in the event that our token becomes hyperinflationary.
10% Game Ecosystem - This amount will be kept as a reward for holders when we host games or draws.
5% Contributor Reward - This amount of token will be allocated to the team and kept for emergency purposes. It will be locked for 12 months.
