SHILL Token Philosophy, Distribution & Value Accrual
SHILL is the ticker name of the Project SEED Ecosystem Utility Token, built with a broad spectrum of use cases to bring massive blockchain power to our users when they are a part of our ecosystem. In this article, we’ll uncover everything you need to know about our native token SHILL: its use cases, distribution, tokenomics, and value accrual.
Project SEED pragmatically adopts SHILL as their native token name for two reasons. Firstly, the name is inspired by Shilling, a historical coin that is formerly used in the UK, Australia, New Zealand, and other British Commonwealth countries. Secondly, it originated from the words widely used by the crypto community: SHILL, SHILLERS, and SHILLING. Our token holders are called SHILLERS, who will play a major part in sharing, introducing, and bringing mass adoption through our game. This reinforces Project SEED’s philosophy as a community-driven project and product.
Beyond interoperability across the ecosystem, SHILL Token has an extensive range of use cases.
- Dungeon Creator: SHILL Token holders are able to create their own dungeons for other players to play (farm), where they could earn from other players who play (farm) in their dungeons as loot materials. Each dungeon has a unique ID that is attached to the blockchain.
- Staking: Our play-and-earn system lets players earn SHILL Token which can be converted to real money and distributed based on Proof-of-Play. Besides APR, stakers will receive a limited NFT drop by the system every season.
- DAO (Governance): In Project SEED games, players govern the world and the ecosystem. SHILL Token holders can propose and vote for their favorite ideas. Project SEED is creating the 1st decentralized mobile game app where players are involved in game advancements.
- NFT Crafting: Every NFT minting will require players to burn SHILL token. Project SEED believes this system will make a healthy game economics and balance of the token supply.
- Item Enhancements: Players can enhance their game items (minted as NFT) to increase their statistics and skills. Like minting, every enhancement requires players to burn SHILL Token token.
- Zeds: In the Outland Odyssey game, players can interact with their beasts, called Zeds. Using SHILL token, players can evolve their Zeds to higher levels and skills.
- Merchants Benefits: SHILL stakers are granted Merchant Benefits, having more spaces to list their items on the NFT marketplace with cheaper fees. Merchants can promote their products on the front page of NFT marketplace by Merchant Advertisement Program. All ad fees are paid by SHILL.
- NFT Marketplace: SHILL Token will be the option of currency for payment at NFT Marketplace. NFT Marketplace will be available in 2 types BUY/SELL and RENTAL System.
Distribution plan and tokenomics
SHILL Token will be distributed by several methods through early token sales, staking rewards, play-and-earn rewards, community grants, and community rewards. There is a total supply of 1,000,000,000 SHILL tokens with a non-programmatic deflationary policy and dynamic issuance. To provide initial liquidity, 27,250,000 SHILL tokens will be circulated first (Bid and Ask).
SHILL Token Economics Structure
We understand the decision to invest in a project depends heavily on its fundamental growth so it is important for us to bring value from project growth to our SHILL holders. This lays the foundation to build value accrual of SHILL tokens and shift the power to their holders. In the long term, we believe this value accrual mechanism will lead to sustainable benefits for our SHILL holders.
In our GameFi ecosystem, 5% of transactions fees in the NFT marketplace goes to 60% Project SEED development, 30% community treasuries, and 10% charities. Or when you make a trade/swap on SEEDex, the transaction is charged a 0.25% fee. Specific portions of this fee are either distributed to the liquidity or staking pool, to become a reward for liquidity providers or SHILL stakers respectively.
There’s also a specific burn mechanism in the SHILL value accrual plan. Our first game title — Outland Odyssey has multiple in-game activities (item enhancement, Zeds evolution) that cost SHILL burn so that its supply can become a deflationary token in the long term.
Project SEED will certainly have more action plans to further increase our SHILL token value accrual in the future as it is the utility token in a one-stop multichain gaming ecosystem that aims to transform the industry to the next level.
Stay tuned for our upcoming IDO. Follow Project SEED for more exciting news and updates: