Token Utility — Legends of Elysium

Token utility is one of the most important aspects of a blockchain game economy. There are two types of tokens — Security and Utility. In today’s article we are going to focus on the latter one. If you are not sure what a Utility Token is and how this utility looks in Legends of Elysium, this article should answer most of your questions.

Utility Token

A utility token is a crypto token that serves some use case within a specific ecosystem. These tokens allow users to perform some action on a certain network. In general, utility tokens, once purchased, are accessible from a crypto wallet associated with the buyer and provide access to a specific service or product with a blockchain ecosystem.

Utility token is a special type of cryptographic asset that is primarily aimed at garnering the funds necessary to develop a cryptocurrency project and token value does not relate to current state of the valuation of the company.

Token utility in LOE

The primary purpose of the $LOE tokens is to enable an in-game currency and governance. Players can use $LOE to make a purchase of an object from the marketplace or in-game store, mint a new card, stake, or borrow a NFT and vote in the governance on important game decisions and direction of game development.

Our token will also be distributed to players as a reward for completing daily quests, competing in League and cyclical eSports Tournaments, and few more described below.

Purchasing of Standard and Premium Card Packs and game Boards

Upon connecting to the game, every user is eligible to get a free deck of cards and start playing the game for free. Users can obtain new cards from Card Packs that can be acquired by completing quests and achievements, won in different game modes, as well as purchased in the in-game store using $LOE tokens. Having more cards enables the player to adapt their strategy to their vision and create the strongest and most efficient deck possible.
(Chapter 2.3 of LOE Whitepaper)

Upgrading Hero Level once he reaches required experience

We want to provide an environment in which every player has an equal chance to actively improve their skills. Every user starts from level 1 and can advance up to level 50. After getting enough experience for each level (by taking part in e.g. daily quests, league, adventures) the player will be eligible to advance to a higher level. In this situation, the user will have an option to increase his hero level by using previously defined amount of the $LOE tokens.
(Chapter 2.2 of LOE Whitepaper)

Bonding tokens in Mines to boost card statistics

Every player will have an option to lock some of their tokens in Mines to get extra boost on the battlefield. The Mines are special vaults that allow users to adjust their tactics by boosting various statistics of their cards. Each board may have up to 3 mines assigned to them, and different boards may have Mines providing different bonuses.

By knowing the cards they possess before the battle begins, the user can upgrade his cards abilities such as health or attack by locking their $LOE tokens in Mines.

The strength of the bonuses received from mines, depend on the amount of tokens bonded in that particular mine. The amount of tokens allowed to be bounded in each mine is limited per player. Tokens locked in the mines can be unbounded by a player at any given time, following the unbounding rules.
(Chapter 2.4 of LOE Whitepaper)

Paying for transactions in the Marketplace and in-game Store

Legends of Elysium offers its own in-game marketplace and a store. The Store offers items such as Tournaments tickets, avatars, Card Packs, and many more, where all items are available to be bought using $LOE tokens.

In-game assets possessed by users can be traded on the in-game marketplace between the users, as long as they were minted and have an NFT representation on the blockchain. This feature enables anyone to sell their cards for $LOE tokens to other players on the built-in secondary marketplace,, if they decide to do so. All assets on the marketplace and store can be purchased using $LOE tokens.
(Chapter 2.5 of LOE Whitepaper)

Crafting new Cards from dust and tokens

Crafting new cards will require both Dust and $LOE tokens to succeed. The amount of Dust and tokens required to craft a new card will vary and depend on its rarity. Each player will be able to burn his card to receive the dust required to craft new cards.

Rewarding both Free-To-Play and Play-To-Earn Players

$LOE tokens are not only going to be used as means of payment for in-game utilities, but also as in-game rewards for the players. By actively participating in quests, league and other aspects of the game, as well as by staking, owning a game board or competing in tournaments, players can be rewarded with $LOE tokens.

Receiving rewards from staking NFTs

If a user decides to stake his NFT, he will get reward depending on staking period.
The NFT cards will be available for staking by the card owners. Each card’s value will be determined, and based on it players will earn staking rewards. Staking is subject to 7-day cycles and at the end of each cycle, staking rewards will be available to claim.

Paying rental fees for borrowed NFT cards

NFT Cards that are staked, will be available to rent by other players. Each card will have a rental price assigned to it, based on the determined card value. Renting a card from the available ones allows the player to use it in his deck temporarily, until the renting period is over.

Voting in the governance of Legends of Elysium

Through governance voting, the community may decide on many project activities. Community can vote in the governance on important game decisions and direction of game development for example next races to be implemented as the next ones coming or whether to burn the tokens creating a deflation process in $LOE total supply or not.

Paying entry fees to participate in eSport Tournaments and Battlefield mode

$LOE token will be used for in-game transactions and purchases. It will allow user to grant access to the cyclical eSports Events and Battlefield Mode.
Legends of Elysium will be hosting tournaments where the best scored players will be eligible to win grand prizes. Tournament is a competitive game mode that will be held in a form of recurring eSports events with commentators and sponsors, and Battlefield is a competitive game mode, in which players pay an entry fee to instantly participate in a tournament-style battle. All players can participate in online tournaments.
(Chapter 2.1 of LOE Whitepaper)

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