🎇Game Fundamentals and $Petro
$Petro are an ERC-20 governance token for the Oil Empire. The holders will be able to claim rewards if they stake their tokens, play the game, and participate in land aquisition and governance.
Our goal with Oil Empire $Petro is to align the incentives among the different participants of the game in novel mechanisms (Fig. 2). We will:
Reward game players for interacting with Oil Empire while simultaneously incentivizing them to hold and stack their $Petro tokens so they can claim additional rewards.
Reward land purchasers for the ownership and governance of Oil Empire by integrating DeFi land lending on Oil Empire. Players are required to pay rent (a certain percentage of their income) to landowners.
Reward $Petro holders for supporting Oil Empire by providing them opportunities to get free lands (only early birds) and lending incomes.
Reward the Oil Empire developers by collecting transaction fees.
The Oil Empire will become the first version of GameFi 2.0 that is: 1) truly built with a virtual world better than most other games, 2) powered by virtual oil assets linked with the industry, 3) and operated by a reasonable and interesting deflation tokenized economy model. It opens up possibilities to link what happens in the real world to the metaverse step by step, while simultaneously providing token incentives.
The Oil Empire Fund (Later will participate the Oil DAO) will begin to receive revenues generated by Oil Empire from:
1.25% (or TBD) of all NFT marketplace transactions;
1.25% (or TBD) of all land marketplace transactions;
0.625% (or TBD) of all lending protocol transactions, which depends on the DeFi partners.
(The project is promised to spends 50% of the game's revenue on buying back $Petro from the open markets monthly.)
More games will be added in the future, e.g., opening coffer shops, running oil exchanges, land sales, and more as new opportunities present themselves.
Q: Are $Petro and $Leum the same?
A: Petro is the official token of the project of OilEmpire. It can be used to buy land, items, gold coins ($Leum), etc.
$Leum is a gold coin used in the game to purchase goods, upgrade items, pay shipping costs, and speed up the processes, etc. In order to reduce the cost incurred by players interacting on the chain and at the same time, to enhance the player's game experience, $Leum are established and are limited to in-game use.
Q: How to get $Leum?
A: Players can buy $Leum using Petro, or earn it by trading oil in the game.
Q: What is ‘PetroX’ Airdrop Event?
A: A total of 5% of the OilLand (Oil Empire Land NFT) will be airdropped to PetroX holders. You can exchange $Petro for PetroX on PancakeSwap. The future rate is remained to be decided between $Petro and PetroX. A snapshot of the number of PetroX holdings will be taken 10 days before the airdrops are distributed.
Q: Does PetroX diminish the value of the land property?
A: No. PetroX is bonus for early birds, which is only a small portion of the Oil Empire Lands.
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