MoveZ Dual Token Economy
Last updated
Last updated
On one hand, there’s $MOVEZ, the governance token. The token is primarily used to gain access to the app. via its staking tier system.
The amount of $MOVEZ tokens staked determines the level of interaction and therefore reward points available. While it is true that the higher the staked token amount the higher the level of reward available, the app is accessible to anyone regardless of the amount of tokens staked.
On the other hand, $BURNZ is the in-app reward token. Therefore any rewards accumulated as a result of a physical activity recorded on the app. will be provided in $BURNZ tokens. These tokens can be used to unlock higher-level benefits to maximise earning potential. For example, this can include access to purchase booster NFTs from the in-app. marketplace.Therefore the two token system is designed to elevate the user-experience while enabling higher reward potential.
In addition to the staking access, $MOVEZ provides a suite of utilities, namely:
Access to the in-app rewards mechanism: just by staking different amounts of tokens the user is able to access different levels of rewards.
Voting access: token holders will be able to vote on the tokens they wish to see implemented in the burn mechanism.
Ability to become a liquidity provider for the BURNZ/MOVEZ pair. The liquidity will be provided on decentralised exchanges like PancakeSwap with positions able to be liquidated at any time in the same manner as any other liquidity tokens.
$BURNZ tokens, which is received as the in-app reward token for physical activity, can be used for:
Trade for $MOVEZ: looking to secure your earnings? Trade your $BURNZ for $MOVEZ
Buy booster NFT's: you can spend your $BURNZ to buy booster NFT's, giving a massive boost to an exercise session!
Quests: While most quests will be free to start and complete, some premium quests can be unlocked using $BURNZ
Events and tournaments: Participate in local and global events or tournaments using your $BURNZ.
As a whole, holding $BURNZ tokens is necessary to access the in-app perks which can’t be accessed with $MOVEZ tokens alone. Furthermore, $BURNZ buy-backs and burn mechanisms will be implemented ensuring the long-term sustainability of the token economy.
