NFT gaming guild to launch token for sub-network next year

Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization (subDAO) of Philippine blockchain gaming startup Yield Guild Games (YGG), is set to launch its SEA token via the Copper platform in early 2022.

Photo credit: YGG SEA

The guild will release a total of 1 billion SEA tokens, which are set to be governance tokens for the YGG SEA. These tokens will be used to govern the YGG SEA’s future direction and ensure holders of access to activities and benefits of the guild.

While 7.5% of the tokens will be sold in the open market, 25% of them will be distributed to the community over time as rewards for active participation in the guild and the community.

YGG SEA has also committed 10% of the total SEA token allocation to support yield farming in the first five years of operation.

Photo credit: YGG SEA

“We believe that ownership of the SEA token represents economic freedom through the Metaverse,” the company said in a statement. “The troops are stakeholders, not spectators – every member is both owner and operator-at-arms.”

YGG said small and large token holders will have a say in the DAO, as they will submit and vote on proposals that are evaluated collectively by the community.

The company will conduct the launch of the SEA token through a balancer liquidity bootstrapping pool, which allows the sale to take place over a set period, during which the pricing will steadily decrease over time until it is supported by what the market thinks is a fair price.

An example of a live token launch auction / Photo credit: YGG SEA

Balancer is an automated market maker that allows users to contribute liquidity so that decentralized exchanges can facilitate buying and selling of specific token pairs.

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