Monster Galaxy, a monster-taming mobile game, has officially launched the MOGA Tokenomics Evolution, which includes various changes focused on improving the utility of the game's core token, $GGM. As part of the update, the game will introduce GCoin, a 100% USD-backed stablecoin to be used for transactions on the game's marketplace, and MGold, a new in-game currency for purchasing and upgrading various items.
To decrease the supply of $GGM, the developers have started burning 655 million unvested tokens and plan to have 345 million outstanding tokens remaining once the burn is complete by April 1st. In addition, the team will conduct Buyback and Burn Events starting on April 1st, during which they will purchase outstanding tokens at 15% monthly revenue and then burn them.
By introducing GCoin, the team expects the prices of NFTs and game items listed on the marketplace to become more stable. The new in-game currency, MGold, is designed for the Gacha feature and playing mini-games. The MOGA Tokenomics Evolution will roll out various changes throughout the first quarter of this year to improve the game's overall utility.
The MOGA Tokenomics Evolution aims to increase the value and utility of the tokens, enhance the gaming experience, and provide players with new ways to interact with the game's ecosystem. For more detailed information, check out the official Medium post.