Diving Deep into the Tokenomics of Planet IX

Planet IX is an NFT strategy game that boasts a genuine and passionate approach to storytelling. With a virtual replica of the Earth as the player’s arena, the objective is to restore the planet to its former blue and green glory. To achieve this, players need to collect PIX, which are virtual pieces of land. In totality, there are 1.6 billion PIX in Planet IX — all of which are also individual NFTs. 

The Gameplay

The amazing story of Planet IX unfolds as gamers accomplish tasks, both in-game and in the real world. Once challenges are completed, users are granted IX tokens. Furthermore, the plot is divided into different chapters with each new chapter introduced, exciting NFT collections, and quests await players. 

As mentioned earlier, the main goal of the game is to acquire and exchange as many PIXs as possible. Once a player trades for a larger area of PIX, they can merge them into an NFT Territory which allows for the exclusive ownership of their PIX collection. Moreover, PIXs are purchased using Planet IX’s ERC-20 utility token called IX Token (IXT), which was released on November 20, 2021. 

The IX Token 

IXT simplifies in-game P2P trading. As it is transacted on the Polygon network, it ensures speedy transactions and minimal gas fees. The IX Token is the medium of exchange in the game’s ecosystem. Not only does it serve as in-game currency, but it also rewards and confers voting rights. That said, token holders serve a crucial role in determining the future of the game. This only means that every choice made by users will greatly affect the game and the sustainability projects supported by the community treasury. 

The tokenomics of IXT is designed to develop a sustainable in-game economy while attracting players with incentive mechanisms. In addition, the token benefits from a four-year vesting schedule that is optimized to ensure the stability of the game for years to come. With its competitors having an average total issuance of 2 billion, Planet IX plays it low on the safe side with a total of 153 million IXT. 

The Polygon Network

Planet IX developers have set their minds to only building the Metaverse on a platform that shares their values when it comes to sustainability. Following extensive research, they chose Polygon as the only L2 solution meeting the game’s stringent requirements. 

What’s more, Polygon is immensely cheap, easy to use, and sufficiently decentralized. Most importantly, the network is one of the most sustainable and environmentally-friendly blockchains in the space today.

IXT Allocations

There are a total of 153,258,228 IX Tokens minted and are accessible over four years from November 22, 2021, at 12:00 UTC. 

The biggest part of the total supply is allocated to early adopters as retroactive airdrops (30,500,000 or 19.90%). It is then followed closely by rewards which are distributed through a combination of user decision points, win rate, and game progress (27,500,000 or 17.94%) and by allocations to founders, employees, and consultants of Nibiru Software (25,600,000 or 16.70%). Almost at a tie, tokens will also be given to community holders made through a Liquidity Raise (24,358,228 or 15.89%) and to in-game rewards of staking pools (24,000,000 or 15.66%). Lastly, advisors (12,800,000 or 8.35%) and the Planet IX ecosystem (8,500,000 or 5.55%) will receive IXT. 

Staking IXT

Players can stake their IX tokens to four different lock-up periods on https://ix.foundation. This is to secure the prolonged stability of the Planet IX ecosystem. There are different reward payouts depending on the length of staking — 1, 3, 6, or 12 months.

Evidently, the longer tokens are staked in the in-game staking contracts, the more rewards will be earned after the lockup period ends. 

In Summary

Planet IX strategically focuses on a niche in the blockchain gaming sector. It seeks to attract new players by addressing current environmental challenges while incorporating a sustainable blockchain-based game. Concurrently, players will reap rewards and set a digital footprint in the environment that will also establish a sustainable impact in the real world. 

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