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Mining $CYT Tokens
Coinary Tokens are obtained by playing Dragonary and mining $CYT will be like mining cryptocurrencies like Bitcoin and Ethereum: there will be a limited amount of coins or tokens each day. This ensures a predictable issuance and in the case of $CYT, it has a limited maximum supply.
The daily maximum amount of $CYT will be distributed among Dragonary players according to the rarity of the player’s account. This is determined by the largest quantity of Rare Dragons that players hold. And they can be withdrawn every 15 days.
Players account will be divided into 2 different types, virtual accounts (common and uncommon), and NFT accounts (rare, epic, legendary, and mythical)
The percentage to distribute will be carried out among all players with the same rarity.
To mine $CYT you should accumulate Obsidian that will be obtained in each battle: it will have an established limit per day and will allow 100% of distribution among accounts with the same rarity, every 24 hours starting at 00:00 UTC. Obsidian is restarted once rewards are shared out in $CYT to all users. There is no specific hour to accumulate Obsidian, but players should have 100% to receive the maximum account available of Coinary Tokens.
Example: suppose a player has an Epic rarity, the maximum amount they will receive will be 20% in case that the maximum amount reaches one million. In this scenario, epic rarity will receive 200,000 $CYT.
If there are 5,000 players with Epic rarity accounts, each one will receive 40 $CYT.
We must not forget that the Coinary Token has a limit, and more than 70% of the tokens will be given out to players.
In an effort to incentivize and reward the first players, we have created a “halving” system, quite similar to Bitcoin’s one, where the $CYT emission will be divided by half. That means that the first players will receive more tokens for playing the game, just like it was on Bitcoin 10 years ago when a miner got 50 BTC. Do you imagine getting and holding 50 BTC?
In Coinary, we are going to start distributing 1 million $CYT daily for the first 90 days after the game launch.
Final daily distribution and token halving remain as stated next:
- In the first 90 days, the maximum distribution will be of 1 million CYT per day.
- On day 91 maximum distributions will be 500,000 CYT per day (First halving)
- On day 181 distributions will be 250,000 CYT per day (Second halving)
- On day 271 distributions will be 125,000 CYT per day (Third and last halving)
Since day 271 distributions will remain without changes for the next years until completing the issuing of tokens, expected to be in 10 years.
Within the first 30 days after game release, there will not be accounts with enough Mythical dragons to win the bonus and the mining percentage. For that reason, and to encourage players, we have decided to share out CYT for the first 90 days as follows: