PRELIMINARY
Skill-based gaming has a well-established legal, social and commercial history. From classic board games to major sports tournaments, games of skill have long offered participants a chance to compete based on one’s ability. The Arena Match esports App allows gamers to compete in popular video games with monetary stakes.
INTRODUCTION
AMGold will serve as deflationary esports cryptocurrency token used for skill-based betting on popular PC games. We’ve also adopted Enjin’s SDK for ERC-1155 Skill Perk items that will enhance the user experience while providing true ownership on the blockchain. We are currently working to launch our esports beta app with a skill challenge mode as early as July 2019 featuring PUBG (PlayerUnknown’s Battlegrounds) as our first game. We’ve selected a deflationary token model to try to solve the the Token Velocity Problem that most token projects have.
Our Intention: AMGold will serve as a utility token creating a decentralized, community-driven virtual economy. A strict limit of 100 million or less AMGold will be created, never to be increased.
Deflationary Token: Each time AMG is transferred 0.5% is burned reducing the circulating supply automatically based on volume. AMG stabilizes at the 16th decimal place and stops burning, ensuring that AMG won’t completely run out of supply but will instead increase in rarity.
The Deflationary Solution
Each time that AMG is transferred, 0.5% is destroyed by being sent to 0x0000000000000000000000000000000000000000.
AMG 0.5% Transfer Burn Examples:
Send 1000 AMG -0.5% Transfer Burn = 995 sent and 5 burned.
AMGold Token Details:
Token: AMGold (“Arena Match Gold”)
Symbol: AMG
Protocol: ERC-20 Ethereum Network
Decimals: 18
Total Supply: 100,000,000 (See current supply)
Burn Rate: 0.5% on each transfer
Stabilizes: Transfers beyond the 16th decimal place won’t burn
Smart Contract: https://etherscan.io/address/0xcbb836780fd33c0164df0071efa49dc2bc7a012d
Token Tracker: https://etherscan.io/token/0xcbb836780fd33c0164df0071efa49dc2bc7a012d
CONCLUSION
Conclusively,AMG “Arena Match Gold” is designed as a decentralized ERC20 utility token on the Ethereum blockchain network for exclusive use with our products and services. AMG will serve as a utility token creating a decentralized, community-driven virtual economy. Every quarter, we will destroy AMG based on a % of transaction volume on our esports app which will continue to reduce the circulating supply overtime indefinitely.
For more information:
Website: https://ArenaMatch.com
Whitepaper: https://arenamatch.com/whitepaper
Telegram: https://t.me/ArenaMatch
Discord: https://discord.gg/GV6RqWb
Twitter: https://twitter.com/ArenaMatchGold
Facebook: https://facebook.com/ArenaMatchGold
ABOUT AUTHOR:
Bounty0x username: cryptolavlu
NOTE: It is A sponsored article written for a bounty reward.