MILKY
Taking into consideration the benefits of Kawaii Islands players and investors, which are sometimes mutually exclusive, Kawaii Islands team figured out a necessity to introduce a gaming token into the Kawaii Islands economy. While KWT remains as an investment and governance token, MILKY will be used exclusively for gaming utility including experience rewarding, breeding, and in-game spending.

Why MILKY is necessary for Kawaii Islands

A prominent difficulty in GameFi is to balance the benefits of 2 groups of users: Players and Investors. Players pay more attention to the game development and gaming experience whereas investors are more focused on investing the potential growth of the value and assets in the project like token or NFTs. The one-token mechanism for the GameFi project seems not sufficient to stabilize the interest conflicts and the overall economy.
Consequently, we will apply a two-token model for Kawaii Islands, with KWT remaining as the governance token and MILKY being our gaming token, responsible for in-game activities. With this model, we expect to focus on preserving the value of KWT, to avoid hyperinflation from gaming activities and to separate the two groups of interest.
MILKY is expected to launch in mid-November 2021 and starts serving as a Kawaii Islands gaming token.

Duality of MILKY and KWT in Kawaii Islands

Role of MILKY in Kawaii Islands
As our official gaming token, MILKY will replace KWT for in-game activities and have some other utilities:
1, Rewards token:
After MILKY launch, it will be the rewards token for Kawaii Islands, our delivery orders and other activities will give out rewards in MILKY, players will be able to convert it to cash or keep for paying in-game fees.
2. In-game fees:
MILKY will replace KWT as a gaming token, it will also be used to pay the in-game fees.
  • Craft fee: All craft fee will switch to MILKY after its launch to synchronize with the rewards flow.
  • Breeding fee: As the previous announcement stated, Kawaii Islands is working on the breeding feature that allows players to self-sustain the supply of Kawaii Islands essential game items. The detailed mechanism of this will be announced later.
  • Other miscellaneous fees: As the game expands, many additional features will be added, some of them are for pure entertainment, some are for accelerating gaming experience and many other utilities. We can take some examples like buying Gacha tickets for gaming items, upgrade silo or open more slots after reaching certain levels and many more. These in-game add-on will also require some MILKY as well.

Supply and Burn of MILKY (Tokenomics)

  1. 1.
    Supply
MILKY is a BEP-20 token run on BSC Network. The supply is uncapped and based on demand.
New MILKY tokens will be minted and added to the circulating supply when (1) rewarding a player (MILKY) in Kawaii Islands for their playing experience; and (2) rewarding bonding participants. (See the Liquidity providing for the information on Bonding).
Supply of MILKY decreases when tokens are burnt (See below).
2. Liquidity providing
Initial circulating supply of MILKY is 200,000,000 MILKY.
Initial market cap is $200,000.
There are two ways liquidity of MILKY will increase:
  1. 1.
    Taxing: automatically, 5% value of every transaction selling MILKY will be used to provide liquidity for MILKY. This is to stabilize the price shock.
  2. 2.
    Bonding: providing a source of liquidity
Participants can claim their bonding amount as MILKY tokens by a non-linear curve. The details of the Bonding program will be announced shortly.
3. Burn mechanism
  • Fees from breeding will be burnt.
  • Fees from crafting will be burnt.
  • Other in-game spending will be burnt.
Last modified 7d ago