🪙$DUEL
$DUEL is the native token of the Duel Arena eco-system. It has direct utilities tied to it, as explained below.
Purposes
We have found in the SOL ecosystem overall that a lot of projects don’t have a clear purpose with their staking. It’s more used as a way to show the community that “the dev team did something” more than anything. For us, it is very important that all of our holders know exactly why they’re taking the NFTs, and what they can use our utility token for.
The staking for the Duelwhales NFTs have three very clear purposes.
The first one being that it is a requirement to have your NFT staked at the time of the multiple snapshots we take during each week, to be eligible for that weeks rev-share payout.
The second purpose of our staking is to be able to upgrade your Duelwhales NFT in order to receive % increases in the rev-share payouts. The upgrades will have a cost paid in $DUEL in full.
The third purpose will be to participate in monthly tournaments on our platform. 1% of the revenue generated through the month goes into a tournament pool. To participate in these tournaments, players will be able to buy entrance tickets using either $SOL or $DUEL.
Staking
What is $DUEL?
$DUEL is the native currency for the Duel Arena eco-system, available to earn through staking your passes. The fundamental idea is directly from day 1 of Duel Arena have a clear utility and purpose of $DUEL, so our holders know exactly what it can be used for.
1 $DUEL = 1 $DUEL
This means that there is no liquidity pool for $DUEL. The value of each $DUEL token will be determined in full by the community. $DUEL is tradable on Famous Foxes, where it's fully P2P (peer-to-peer), meaning that the Duel Arena team has nothing to do with the trading of $DUEL in any way and we do not earn any profits from people buying/selling their tokens.
The idea of $DUEL is that it should be used for the utilities we offer in order for us to reward long-term holders; the Duel Arena team does not peg any $ value to the token, nor do we recommend anyone to view $DUEL as a currency.
$DUEL Utilities
Upgrades
DUELWHALES will have two phases of upgrades happening, first upgrade phase will open the possibility to upgrade your Duelwhales NFTs from level 1 to level 2, and the second upgrade phase will open the possibility of upgrading from level 2 to level 3.
Upgrading your NFTs will increase their cut of the weekly rev-share payouts.
Monthly tournaments
Each month, monthly tournaments will be hosted by the Duel Arena team. 10% of the revenue generated in the previous month will be used as a prize pool for the tournaments.
Players will be able to buy into the tournaments using $DUEL. The costs of buying into the tournaments will vary based on the prize pool.
All $DUEL used as payment to buy into tournaments will be burnt by the Duel Arena team.
Staking functions and yields
When you stake your Duelwhales NFTs, they will never be locked up for any period. You will be able to withdraw your NFTs at any time and you will also be able to claim your earned $DUEL at any time, on our staking site.
Daily yield
Every DUELWHALES NFT earns 10 $DUEL/day. 1/1 Duelwhales earn 50 $DUEL/day. This yield can be increased by upgrading your NFT, see more on the upgrade page.
Tokenomics
Total supply: 14,2m
Level 1 Duelwhales yield: 10 $DUEL/day
Level 2 Duelwhales yield: 15 $DUEL/day
Level 3 Duelwhales yield: 22.5 $DUEL/day
Level 1 1/1 yield: 50 $DUEL/day
Level 2 1/1 yield: 75 $DUEL/day
Level 3 1/1 yield: 112.5 $DUEL/day
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