Token Economics — The Future of Digital Economies

Our tokenised model will serve to mitigate the current geographical barriers that affect the exchange of value, ensuring security, speed, and reduced costs for gamers and teams worldwide. As stakeholders interact with the IG ecosystem, this swift exchange of value will be the driving force behind providing sustainable liquidity.

We envision a multi-token ecosystem that enables value to be transferred as quick as an email!

The key components to our tokenised economy include:

  • IG Gold (IGG) TRC-20 Tokens
  • Partner Tokens — presently TRC-10
  • Non-Fungible Tokens (NFTs) — to be revealed at a later date
  • Off-Chain Tokens — to be revealed at a later date

IG Gold (IGG) Tokens

IGG exists on the TRON distributed network and powers our very own IGGalaxy! The IGG token will aim to fundamentally evolve the way stakeholders within our competitive gaming ecosystem interact and exchange value. Here, we will see our token play a pivotal role in interconnecting the esports industry’s fragmented landscape. Furthermore, it will enable the provision of an innovative competitive gaming experience, where in some aspects of the IGGalaxy, it may play the role of ‘in-game currency.’

Current Token Details:

  • Total Supply: 50,000,000,000
  • Circulating Supply: 10,811,762,958.96
  • Remaining IGG to be swapped to TRC-20: 1,234,771,788
  • Number of Transactions: 342,901

Overview of Use Cases:

Below, we have provided some of the use cases of the IGG token we intend to implement ahead of the public launch later this year:

  • Prize Pools: IGG will be used as reward tokens, which will be distributed to those participating in our online tournaments. Utilising the TRON network, we can execute IGG payments instantaneously. Our reward structure means all gamers, regardless of skill, earn IGG while they participate; of course the better you perform, the higher your reward!
  • Establishment of Team: IGG will be required to establish a team on the IG platform. Presently, that is set at 1,000,000 IGG, where 50% will be burned from the circulating supply.
  • Player Salaries & Bonus: Using smart contracts, we can facilitate the secure payment of salaries and bonuses for players competing whilst representing a team. This will provide a host of benefits, including security and trust that the IGG payment will be honoured.
  • Galactic Grand Exchange: IGG will be the primary token used in the GGE to exchange for products or services, such as digital items and merchandise. The GGE will also play an integral role in facilitating our vision for a tokenised competitive gaming landscape.
  • Player Transfers: IGG will be utilised for the exchange of players between teams.
  • Loyalty & Reward Systems: Our platform will have features that incentivise the co-creation of an inclusive global competitive gaming community. IGG will be distributed to Galacticans that continually engage with our platform and bring friends to the IGGalaxy. Through an XP, reputation, and levelling system, we will be able to provide IGG to reward experience and time spent within our esports ecosystem.
  • Tournament Entry Deposit: To enable teams/players to participate in specific IG tournaments, they will have to deposit a set amount of IGG before entering. This is returned upon completion of competition. This will ensure commitment to the tournament, reducing the amount of uncommitted players.
  • Sponsorships & Advertisement: Sponsorship and advertisements are the largest revenue streams within esports, currently contributing over 77% to the global revenue ($694m). It is even expected to increase to $1.4 billion by 2021! Gamers, teams and other key stakeholders within the IG ecosystem can be sponsored with IGG.
  • Apps & DApps: IGG will be integrated into various Apps and DApps.

Deflationary Mechanisms — BURN

The value of IGG is determined by the market: by supply and demand economics.

We have revisited our token economics with the perspective of both short and long term holders of IGG. From this, we believe that deflationary mechanisms are necessary for a sustainable and healthy token economy. With the move to the TRC-20 standard, we have inherited fractional tokens (six decimal places), which in turn has increased the liquidity for IGG. This, along with our multi-token ecosystem, thus enables the burn function to become a viable option.

We will be integrating burn functions into various smart contracts across the platform, the establishment of teams being the first. As the number of users increase, and platform activity grows, we will see an increased number of teams established. This will in turn result in an increase in the amount of IGG burnt from the circulating IGG supply. This is greatly beneficial to all holders of IGG tokens as the total supply of IGG will be reduced over time. Naturally, there will be complementary incentive mechanisms that encourage users to interact with these smart contracts further supporting the limited deflationary effect. More information will be provided on this in due course.

PARTNER TOKENS

Our effective tokenised model has further layers. We will continue to secure endemic and non-endemic partnerships, integrating their own bespoke tokens, which will be underpinned by IGG. First and foremost, we will see an increase in the adoption of the TRON protocol as more and more become aware of the network. Secondly, prospective partners will find themselves able to offer a completely different value proposition to their community.

The benefits associated with our partners having their own token include:

  • Activation into the TRON network — one of the largest communities around a blockchain protocol.
  • Enables diversification of value propositions and revenue streams through the use cases facilitated by a digital token supported by the IG ecosystem.
  • Marketing Tool — The ability to tip followers on various mediums for value added; twitter, telegram & discord.
  • Transactions are real-time and fees are considerably low.
  • All tokenised stakeholders will have a fair playing field with same amount of tokens — new dynamic to the competitive tokenised landscape!

Here, we have outlined a few generic ways Partners can provide use cases for their tokens:

  • Used to get discounts on any merchandise or services provided by the respective partner
  • Used to incentivise the community to engage and participate — eg incentivising people to watch a stream or share social media posts
  • Used by fans to subscribe to any players/teams within our partner organisations, providing perks.
  • Used in DApps developed by IG and our partners

Liquidity to these partner token economies will be provided by the IGG base pairing, which will be coming soon.

We look to working in collaboration with our partners to establish additional utility for their respective tokens. It is therefore important to note that each partner will provide an entirely unique proposition to drive the utility of their token. We are working on our platform and other “secret projects” to support IGG and partner tokens within our ecosystem gain further utility and provide additional value to holders.

IG x GSIN Partnership Dissolved

As we progress through our roadmap, we continue to take strides towards establishing our social competitive gaming platform. Along the journey, we have achieved great things; we have been welcomed by the TRON community, and now are beginning to introduce new members to the TRON network. Most prominently, we have seen a number of esports organisations join the IGGalaxy, and still, have many more we are waiting to strategically activate. Before we continue however, we will provide our statement in relation to the IG x GSIN partnership.

Back in September, GSIN Sports contacted us regarding a potential partnership between our two organisations. GSIN had stated that they wanted to enter the esports scene, confident of doing so as they already had the traditional sports infrastructure in place. Understanding the tremendous growth of the esports industry, and witnessing how receptive the TRON community were towards our vision for a tokenised competitive gaming landscape, GSIN felt that esports would provide an opportunity to take their organisation to the next level. A partnership between our two organisations seemed natural.

As you will all know, over the last few months we have been building our platform, which of course will have numerous components to it. Primarily, it will operate as a social competitive gaming ecosystem for the gamers and partners alike to participate in their favourite game titles, whilst being rewarded for doing so. Developing on this, there is also an opportunity for our partners to put forth proposals with the intention of developing their organisations. We have since seen partners come forward with proposals to our community. Mazer’s charity 24-hour live stream for Thirsty Minds or supporting their roster to attend the Mexico City Games, or supporting Sangal with building their PUBG team; all evidence of our partner’s utilising our community to mutually benefit our ecosystems. As the majority of our partners have little experience in blockchain, we will continue to guide our partners with utilising the TRON network.

Furthermore, it is fundamentally important that all partners demonstrate a willingness to learn and be patient. The lack of utility, and therefore liquidity, of IGG has meant that we have had to delay releasing the IGG that our partners’ token sale raised. Releasing IGG during this period of time would have been detrimental to the overall IGG token economics, which as a consequence, would have put our community’s trust in us at risk. Furthermore, as utility is a core component to the sustainability of our IG x partner token economics, we could not release such funds without the adequate legal agreements in place. We have conveyed this to our Partner’s and they have been receptive. However, over the past few months, it became increasingly apparent that IG and GSIN’s values were not as synergetic as once promised, as it transpires our motivations do not align.

The idea behind our partner token sales is to increase adoption of the TRON protocol through tokenisation, whilst simultaneously providing our partners with the ability to effectively activate within IGGalaxy. Prior to conducting partner token sales, we will always ensure that the best interests of our community are central and sufficient utility and sustainable liquidity can be attained. The aim of IG and its partners is not to make profit from the IG community, but to use the tokenised model to add value to the blockchain and competitive gaming industries; our token distribution is such that it reflects this.

It is common knowledge that we at IG are 100% for the community; nothing will compromise this. It is because of you that we had such a fantastic welcoming to the TRON network; it is because of you that we were voted as elected SR’s within four hours; and it is you that drive us every day to deliver.

With the IG and GSIN partnership no longer in place, we will ensure that ALL Galacticans that had purchased GSG will be refunded. In the week, we will set up a smart contract that will return IGG to ensure you will NOT lose out.

IGG will be returned on an one to one basis via the smart contract. We will provide further information and instructions on how to swap any GSG tokens you have for IGG.

In the meantime, we thank all of our communities for their patience, and we look forward to providing updates pertaining to the utility and tokenomy of our partner tokens.

A Call to Arms!
As we wrap up, we’ll leave you with some final words. We have listened to the feedback from members of the community, and have taken on board everything. Moving forward, we will look to ensure the community’s feedback is at the forefront and at the centre of all decisions made; equally, we will continue to move strategically to ensure a successful execution of the IG vision.

Having briefly fallen out of the elected SR role today, we would like to thank all of those that continue to vote for us, and encouraging others’ to do the same. You are a testament to the strength of our community, and believe we can repay your loyalty. This is a call to all Galacticans to vote and support us in our SR campaign as we look to bring new users onto the TRON network through the universal language of gaming.

With a busy gaming calendar ahead, we will have an abundance of opportunities to activate our partners within the IGGalaxy!

Thank you for your patience and the support! It is much appreciated and we look forward to sharing further updates on our progress as we work relentlessly to build a multi-layered digital token economy that supports the growth of the competitive gaming and blockchain industries at large.

To keep up to date with developments, please follow us on our various social media channels:

Website: www.iggalaxy.com
Twitch: https://www.twitch.tv/igg_esports
Discord: https://discord.gg/5kx4tKR
Reddit: https://old.reddit.com/user/Intergalactic_Gaming
Twitter: https://mobile.twitter.com/IG_Galaxy
Facebook: https://www.facebook.com/IGGalaxy/
Instagram: https://www.instagram.com/intergalactic_gaming/
LinkedIn: https://www.linkedin.com/company/intergalactic-gaming
Medium: https://medium.com/@info_91865
Telegram: https://t.me/IGG_Official

Building a next-gen social competitive gaming and esports platform that empowers gamers and teams! 👽