Wallet Staking Changes

With Version 1 release are updating the Wallet Staking amounts for all sets of Alchemon. Our intention has always been to gear the economy towards playing the game to reward active players of Alchemon once we released V1. Now that V1 is available to anyone with a PC or Mac and Pera connection, we will be shifting the rewards to benefit players of Alchemon. Obviously the video game will keep becoming more accessible as we work to bring mobile and other wallet connections to the game.

We intend to always have Wallet Staking in some form. It does have its flaws, which we as a community will have to confront at some point. I.e., Lost seed phrases or users that have quit and will never come back currently earn on a weekly basis which acts as an unintended burn that will go on forever.

We designed Alchemon to be owned/governed by the holders of the NFTs. We have never sold any tokens to the public, only NFTs. We want our supporters to be owners of what we are building and the best design is to give the governance token to those that own Alchemon NFT Cards. This introduced a cyclic nature of AlcheCoin as Alchemon Inc has to work to earn it back to continue payouts.

How the new Wallet Staking rewards work:

We will be using a pool system exactly like how the community set is done currently. A pool of 50,000 ALCH per set will be dropped to the holders of that set who are opted into ALCH and the Stake Flag. This will keep ratios similar to existing drops. Earlier (lower mint count) sets will be rewarded more in relation to higher mint sets due to the pools. So while rewards, in total, are lowering, players will get the same value in relation to other holders. This will be a total of 250,000 ALCH per week currently for Sets 1–5 and adding in the Community Set (after the 6 months) and Set 6 this will be 350,000 ALCH per week.

Our old model of Wallet Staking should be thought of as “early adopter rewards.” We have known these rewards were not sustainable and have been working to get to V1 (and fix connections) to be able to shift this model over. At the rate we were distributing we would run out in a matter of months and not be able to reward for new sets. At some point we would just run out and not be able to do any Wallet Staking.

The pool system allows for us to be able to predict what we need to earn back in ALCH via crafting, art and other utilities. This makes it so we can better attempt to balance what we are sending out and what we have to earn back.

AlcheCoin(ALCH) and AlcheGold(AGOLD):

AlcheCoin is the governance token of Alchemon.

• How to get: Hold Alchemon and opt into the Stake Flag for Wallet Staking, swap on a Dex.
• Current uses: It is used to vote, crafting fees, buy permanent assets (NFTs/Art).
• Future uses: Project Alchemist customization, PvP staking, tournament buy-in

AlcheGold is the utility/in-game token.

• How to get: Win battles in the video game, swap on a dex, provide LP for ALGO/ALCH(coming very soon)
• Current uses: Buy consumables (1x use) in game.
• Future uses: New consumables, stake it for [REDACTED].