Token price fluctuation risk / Countermeasures against fraudulent NFT transactions, etc.
Setting Various Restrictions
The token price can vary significantly due to factors such as market circulation, similar to Japan's stock market where there are no daily price fluctuation limits. Additionally, pure investment-driven buying and selling can lead to price fluctuations independent of in-game supply and demand dynamics.
While our project is designed to ensure that token price fluctuations do not directly impact the in-game economy, excessive volatility is still undesirable for maintaining a healthy ecosystem. Furthermore, measures need to be taken to prevent fraudulent credit card usage and other abuses in the NFT market.
To address these concerns, several transaction restrictions have been put in place. While these restrictions may seem stringent, they are designed to gradually ease as players progress in the game. This approach aims to deter the creation of bots and other exploitative practices, safeguarding fair play for all participants.
Despite these restrictions, earning rewards may seem challenging at first. However, we encourage players to focus on enjoying the game. Through this process, we hope you'll experience a stable Play-to-Earn environment within our sustainable economy.
xGEEK to $GEEK Exchange Limits (Overall/Daily)
This sets a daily exchange limit for the entire service. By capping the amount of tokens entering the market each day, we aim to stabilize prices. The limit is based on the amount of $GEEK brought into the game from external sources the previous day, serving as an upper limit on the selling pressure the next day.
xGEEK to $GEEK Exchange Limits (Individual/Daily)
In addition to the overall limit, there are also individual exchange limits. This is to prevent a small number of players from dominating exchanges, ensuring broader access to token exchanges. These limits are set based on the amount of xGEEK being exchanged and will be gradually relaxed as players meet certain in-game conditions.
xGEEK to $GEEK Exchange Processing Time
A 24-hour processing time is implemented from the time of exchange request to actual transfer into the wallet. This delay helps mitigate the risk of exploiting price differences due to timing discrepancies, ensuring fair exchange rates.
Land Reward Payment Method
Token rewards from land ownership are distributed through staking rewards and revenue sharing from land dungeons. Unlike other reward systems, these rewards are more consistent and not directly tied to the landowner's daily play volume. To address potential surplus funds and associated selling pressure risks, land rewards are accumulated in a reward pool specific to each land and paid out monthly. We apologize for any inconvenience this may cause landowners but ask for your understanding as it contributes to the overall health of the economy.
NFT Listing Restrictions
NFTs purchased at the NFT Market and NFT Sale will be restricted from being listed again for 90 days. This is a measure to curb the use of fraudulent credit cards on the NFT Market, which is said to be increasing in recent years.
Limit on the amount of xGEEK earned from GEEK BOX drops (on a daily basis)
A daily limit will be placed on the amount of xGEEK that can be earned from GEEK BOX drops in build mode and guild dungeons across the entire service.
The total amount of the limit is determined by the amount of EARN that can be withdrawn on a daily basis, calculated backwards from the withdrawal schedule. At the beginning of the service, the amount will be set high in anticipation of a large number of players and will gradually decrease over time, but please note that the amount may be adjusted to a more appropriate amount depending on operating conditions.
When the daily remaining amount is completely used up, the BOX will stop dropping; we will slow down the rate of the BOX based on the remaining amount relative to the daily limit to allow as much time as possible for the drop to run out.
Maximum number of engraved box drops (on a daily basis)
In order to stabilize the price of NFTs, it is necessary to have some control over the volume of NFTs in circulation.
In this project, since the increase in the daily NFT distribution volume is generated by drops from engraved boxes, the upper limit of the number of drops from engraved boxes will be set in the same way as the drop rate decay method for GEEK BOXes.
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