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08.02.23

MetaShare Staking: The future of in-game governance

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MetaShare Staking: The future of in-game governance

MetaShare Staking will go live today (Friday 10 Feb). For a better understanding of the subject we suggest that you read this comms article; MetaShares

Every in-game corporation on Planet IX has its own Treasury. We will explain how these treasuries are funded in this article. In order to partake in rewards and revenue streams that are generated from sales, subscriptions and (future) marketplace commissions, you need to own and stake MetaShares. The MetaShare supply is capped accordingly: 
 

First round of in-game corporations where staking MetaShare will be available:

  • NewLands LLC
  • Y_
  • Lucky Cat

Subscription Allocation Split

The recent surge in subscriptions from NewLands latest product “Tile Contracts” has started to generate quite a substantial flow of tokens to said corporation treasury. The Asset Flow chart below illustrates how the earnings are split and allocated. 

Read more here: Subscription Split

As you can see 40% of all Astro Gold will go to the NewLand treasury. Almost 20% is burned meaning that all subscription models of Planet IX will help the IX Token become deflationary. A deflationary token is good for numerous reasons, the most important being the fact that the remaining tokens in the ecosystem will increase in value while the overall market cap remains the same. Another good thing is the trust it brings to the project, and token investors are usually more prone to invest in deflationary token models. 

As you might notice, the company behind Planet IX, Amelia Systems, will not take any direct profits from these subscriptions. Later in this article we will come back to this subject, first lets go through the direct sales allocation.  

Direct Sales Allocation Split

Direct sales from the in-game corporations will work a bit differently. First out is the NewLands LLC shop that just released 50 000 MetaShares for 10 USDC per share. These proceeding-splits will flow as the image below illustrates: 

The split is geared toward boosting the ecosystem and helping the IX Token to become even more deflationary and that is usually a very good thing, as discussed above. 

The long-term goal of Planet IX is to become truly decentralised and ruled by governance. The IX Token has its own governance and also all in-game corporations have their governance tokens, MetaShares.

A major part of the decentralisation goal is to decentralise ownership of the in-game corporations that rule Planet IX. For this to become a reality, Planet IX creators, Amelia Systems must also become part of the ecosystem. By transforming themselves from owners to players, in the sense of earning and developing the in-game corporations. This will of course take time and is nothing that can happen all at once. Mainly, since it’s a never seen before business model and the core vision of Amelia Systems has not yet taken its final form.

Besides the 15% from all in-game sales, Amelia Systems will acquire its profit and revenue from in-game transactions, also by owning MetaShares. Initially ~33% of all MetaShares will be minted to, and owned by, Amelia Systems. Since all MetaShares have not been minted yet, Amelia Systems won’t be staking more than approximately ~33% of the pool.

Below you can see a table of all current MetaShares and their supply and also how many MetaShares that Amelia Systems will acquire. 

This is a major step for us and we are fully committed to making the game as decentralised as possible during the coming years. 

In-Game Treasuries

By the time of writing this article 95 000 IXT has already been allocated through the initial Genesis NFT and (previous) MetaShare sales by NewLands LLC. The different corporation treasuries can be found here: NewLands

The other treasuries for our in-game corporations:

AstroCap

HaveBlue

LuckyCat

Y_

Global Waste Systems

EternaLabs

NetEmpire

Arcade

GravityGrade

 

Most of the corporations are not fully functional yet and still lack funds. This will of course change as the Planet IX ecosystem keeps evolving towards becoming the largest ecosystem in crypto.
 

All MetaShare staking will be held at IX Foundation

TL;DR

  • MetaShare staking will be starting soon
  • Rewards are high and will keep increasing
  • Allocation of Sale and Subscriptions (see pictures)
  • Amelia Systems will also own MetaShares as a type of revenue model
  • Don’t get surprised if a large number of MetaShares is minted to Amelia Systems