$ZOO Token Economics
Total $ZOO Tokens: 2,000,000,000,000
- Game wallet: 1,000,000,000,000
- Circulation: 1,000,000,000,000
- 500,000,000,000 available to public
- 500,000,000,000 allocated to development, marketing, and founders
- Locked for 6 months from allocation
- After 6 months, 10% of allocation unlocked per month for next 10 months
The $ZOO Token was minted on the Binance Smart Chain (BSC) to avoid the high fees and latency associated with ETH transactions recently. The goal was ultimately to provide more accessibilty through low fees, but building on BSC introduced other accessibility issues, through restrictions on Binance transactions in many provinces, and a prohibitively confusing setup process for new crypto participants. In late August/early September 2021, $ZOO was paused, and a new contract distributed to all holders of the original contract. The new contract will make possible full interoperability and functionality across both Ethereum and Binance Smart Chain.
New $ZOO contract address: 0x7fFC1243232da3Ac001994208E2002816b57c669
$ZOO was created as a currency for utility in the game CryptoZoo, an open source ecosystem with a broad array of potential applications, the first of which is a platform for harvesting collectible NFT animals which can be cross bred to create unimaginable Hybrid Animals that yield various amounts of $ZOO daily, with some rare hybrids yielding more than 64,500 $ZOO each day!
The generous yield accrued by any NFT animal in CryptoZoo can only be collected by allowing the NFT to be burned, thus bringing large quantities of $ZOO back into circulation, where ideally, the owner will opt to reinvest the collected $ZOO into new projects within CryptoZoo. Several opportunities and additional utilities are under development already. Aggressive burning of both $ZOO and CryptoZoo NFTs contribute to broadly deflationary economics, which will support additional egg drops and other exciting offerings, while protecting the scarcity of previously issued tokens.
Because $ZOO was created to support CryptoZoo, and was not intended to be an investment vehicle, the contract doesn’t include incentives for liquidity providing. Although the largest holders’ wallets are locked for 6 months, there are potentially severe volatility risks that accompany low liquidity, so it is on the near term roadmap to introduce and reward liquidity providers with a high APY governance token, offering voting privileges in the game. Future governance would allow the project to become more decentralized over time, and provide holders of the governance token an influential vote on CryptoZoo rules and fees. Yield farming via $ZOO staking is also recommended by the team, giving CryptoZoo participants more opportunities to grow their $ZOO wallets. Both of these exciting updates will improve the $ZOO liquidity pool, allowing CryptoZoo participants to buy and sell $ZOO with less impact on the price per token.
The following is planned at launch:
- $ZOO revenue from egg drops
- 50% burned
- 50% allocated for wildlife charities and CryptoZoo development
- 5% fee on transactions in the CryptoZoo marketplace
- 2% burned
- 3% added to $ZOO Liquidity Pool
- 2.5% fee on ETH/BSC bridge swaps allocated to owners
- 97.5% of all in-game fees (all paid in $ZOO) burned. Remaining 2.5% of in-game fees allocated for future game development and funding.
- In game fees (paid in $ZOO)
- Breeding: $2.50
- Breeding recovery acceleration: from $2.50 to $15.00 per hour based on rarity
- Egg incubation acceleration: $10
- NFT name change: $2.50
Burning 50% of the $ZOO tokens from egg drops and 97.5% of the $ZOO used on in-game fees is accretive for ALL CryptoZoo NFT and $ZOO holders, rather than just the founders. Balanced fees and governance will perpetuate the decentralization, and will iterate toward an increasingly equitable environment for all participants.