This is an in-game rewards token within Memoverse. The direct utility token ensures the operation of game mechanics, mining rewards, farming profit, with secondary trading opportunities.
- Memoverse Marketplace
The gaming token will be traded on decentralized exchanges, and you can also purchase additional $MEMO-P accumulated within NFTs on the Memoverse Marketplace.
Additional restrictions may apply if you purchase NFTs with an existing token balance, in case such purchases lead to intense NFT burning and token withdrawals. To avoid such conditions or increase available limits, you should have a solid gaming history or significant mining income from your palaces.
- Defense looting
- Attack looting
- Memory Competitions
- Global gameplay
- Clan gameplay
The $MEMO-P token is one of the essential components of the gameplay, the energy, the fuel of the game mechanics, and the rewards system.
Moreover, this is not just another in-game currency. It is a real token that allows you to make purchases in the native marketplace, which can be traded on an automated exchanges and staked using gameplay mechanisms.
Participating in the gameplay actions means you receive rewards in the $MEMO-P token. You can involve different styles and strategies of play, depending on the aspects of the metaverse that fascinate you.
At the moment, Memoverse provides four main realms of game design that allow you to earn $MEMO-P tokens: Learning (Educational NFTs), Crafting (Mining and Defense looting), Memory Battling (Attack looting, Memory Competitions), and Challenges Rewards (global Leaderboards).
The $MEMO-P token is also used for governance, but only in the realm of the game itself.
You can vote for global gameplay adjustments or earn specific perks exclusively for your gaming clan by donating $MEMO-P tokens to so-called Memory Altars.
However, unlike many games, Memoverse does not support pay-to-win strategies. You will need Memory Keys (special in-game achievements) to unlock the possibility of such donations.
All tokens donated to the Memory Altars are distributed to the rewards pool or burned if the pool does not require filling.
- NFT staking (7–180 days)
- NFT leasing (7 days–indefinitely)
- Memoverse mini-games
You have several options for $MEMO-P token farming: via NFT staking, NFT leasing, and participating in the upcoming Memoverse mini-games series.
Each NFT in Memoverse realms can serve as a source of $MEMO-P token farming.
If you do not want or cannot use NFTs in the mining process (by building palaces), you can still accumulate $MEMO-P tokens on these NFTs.
Memoverse provides the opportunity to stake NFTs for periods of varying duration, from 7 days to six months. During this time, the gaming token will accumulate inside the NFT.
After that, you can use these NFTs with the accumulated balance in mining assemblies (increasing the mining rate) or burn them and withdraw the tokens to your wallet.
The farming formula will not be disclosed by us directly. The rate is affected by the value of the NFT (the nature of the gaming object, size, rarity, and the presence of previously accumulated tokens) and the duration of staking.
Another way to make your NFTs work is to rent them out. You will be able to list your NFTs for rent in the native marketplace, and other users can use them for their purposes. Available rental periods start from 7 days.
The main difference between NFT staking and renting is that you will profit from the renter's actions. If the renter uses your NFT in a profitable mining assembly, you will receive additional profit on top of the usual rental fee.
Rental fees and additional bonuses are accumulated within NFT, and you will be able to embrace or withdraw $MEMO-P tokens once the renting period ends.
Participation in a series of mini-games in the Memoverse universe is another terrific way to earn extra $MEMO-P tokens. At the end of each season of the mini-game, you will be able to receive the rewards with $MEMO-P tokens.
To receive the rewards instantly, you will need to stake at least the same amount of the $MEMO-G governance token for two months. Otherwise, you will receive the $MEMO-P prize within six months in equal parts. Alternatively, you can instantly convert your winnings into a MEMO-F token with a significant multiplier.
One of the fundamental ways to earn a $MEMO-P token is mining. To start the mining process, you need to complete the process of assembling at least one memory palace.
The mining formula includes numerous parameters, and the assembly process is fraught with many interesting nuances. Detailed mining process information is available in the specialized section on this wiki.
In general, mining is the most profitable way to get $MEMO-P tokens from all available in the game.
Unlike staking and renting, all mined tokens accumulate inside Loci NFTs, special objects you place inside the palace rooms. The more tokens earned on these NFTs, the more significant the mining rate will be.
You can withdraw the accumulated tokens to your wallet at any time by burning Loci NFTs.
- Exclusive in-game items
- Commission sales
- NFTs pawn shop
Since $MEMO-P is not only a gaming token but also a utility token, its usage inside the native marketplace also provides some additional bonuses.
Memoverse will provide some in-game items available for purchase only with a $MEMO-P token. Moreover, the most exclusive items will require exceptional in-game achievements to complete the acquisition.
Similarly to the purchases made with $MEMO-G, purchases made with $MEMO-P tokens impose additional restrictions: items bought with $MEMO-P tokens are available for commission sales inside the native marketplace only in $MEMO-P currency.
You have the opportunity to put up any gaming or utility items for secondary sale inside the Memoverse marketplace in any currency configuration (unless other limitations apply), including $MEMO-P sales.
In case you need gaming tokens quickly, Memoverse offers pawn shop options. You can pledge any of your NFTs and instantly receive $MEMO-P tokens. Unlike staking and commission sales, you don't have to wait. Moreover, you'll be able to redeem your NFTs from the pawn shop anytime without additional fees.
Our algorithm will evaluate your NFT by various parameters (such as rarity and size), take into account the gaming tokens accumulated on it, and you will immediately receive a fair price for it. We will also calculate the redemption price depending on the number of days for which you plan to borrow the $MEMO-P tokens (but no longer than two months).
$MEMO-P could behave like inflationary token. With this in mind, Memoverse plans several measures to keep the token healthy for the project's duration.
We are working on adding value to $MEMO-P continually. But we also employ proactive defense strategies like mining halving and annual token burning.
We plan to reduce the overall in-game mining rate every three months. At the same time, the tokens accumulated by the project not involved in the distribution of gaming rewards will be burned. Additional burning events may take place alongside other major marketing or gaming occasions.
Exact data on halving coefficients will be published shortly after $MEMO-P TGE.