Tokenomics Explained
Tokenomics is the backbone of the project and ultimately drives the success of our ecosystem. While the tokenomics might seems complicated at first, the goals are fairly simple:
Decrease the number of Mahjong Dogs NFTs in circulation
Increase the demand for $MJC
Mining and staking - As explained in Overall Mechanics, Mahjong Dogs can mine $10 MJC per day by staking. Holders are also incentivised to collect different combinations of mahjong tiles to boost the staking rewards. When Mahjong Dogs are staked, they could not be listed for sale and hence the circulation in the market is reduced.
Burning - As explained in Overall Mechanics, Mahjong Dogs can be burnt in exchange for $MJC. This permanently reduces the supply of the collection.
Huge discount for NFTs and Goods - Since the actual supply of $MJC in circulation will be extremely low at the beginning, it is almost guaranteed that the Blue Chip NFTs and other goods will be initially auctioned at a steep discount. This creates huge financial benefits and rewards the early adopters of $MJC.
Customisation and Gamified Ecosystem - We are not just trying to provide financial incentives to holders but also creating a unique and gamified experience. Holders will enjoy spending their $MJC on customising their NFTs and unlocking different things in the ecosystem
$MJC Cap and halving - As explained in Overall Mechanics, $MJC is capped at 21,000,000 supply, the same as the well-known digital gold - Bitcoin. There is also a halving mechanism that gradually decreases the staking rewards until all $MJC is mined.
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