3.3.2 Token Economy
The economic mechanism oriented towards the activisation of CLOID
CLOID is the world's first game streaming platform in the cloud that introduces the Stream-To-Earn (STE) mechanism. CGT is an ERC-20 governance token for the CLOID Universe. CGT holders can stake tokens, stream games, and participate in key governance votes to claim rewards. Players can stream various games within the CLOID Universe, and developers can create and register games for rewards.
The mechanism described above has three main objectives:
Stream & Earn: Allow users to stream games and earn rewards.
Staking: allows ecosystem users to participate in decision-making processes by voting and encourage them to hold tokens in long term.
Governance: Decentralize ownership and governance of CLOID.
CLOID ultimately aims to be a decentralized platform so that the user community can fully own and operate the platform. Decentralization opens up infinite possibilities, but it must be approached carefully. The process of converting CLOID to a decentralized platform is expected to take place gradually over time.
A. $CRT (CLOID REWARD TOKEN)
Supply, Earning and Burning
There are no restrictions on the issuance of CRT tokens due to its unlimited supply token model. The factors affecting CRT accumulation are as follows:
Total battery energy
Usage Time
Controllers (Type, Attributes, Quality, and Levels)
Buttons (Type, Level, and Socket Quality)
Badges
CRT tokens can be burned through the following activities:
Leveling Up Controllers
Creating Controllers
Repairing Controllers
Unlocking Controller Sockets
Upgrading Buttons
Opening Lucky Boxes
B. $CGT (CLOID GOVERNANCE TOKEN)
25% of all CGT tokens are distributed to users participating in Stream & Earn and Governance. In order to continuously maintain the CLOID token ecosystem, CGT tokens will be used in the following way. (For more information on CGT token distribution, refer to Section 3.3.3. Token Distribution.)
$ CGT Usecases
Payment
Stream-To-Earn
Staking
Governance
Burning
Payment
CLOID Game Universe
Users who stream games pay the necessary fees to be able to stream, subscribe, and make in-game payments on the CLOID Game Universe. Developers should make a developer account in order to create games and register them at the Game Universe. There is currently a fee in place both to register one’s account and to register a game. Developers receive copyright fees for game use and in-game purchases from users who play their registered game content.
CLOID In-App Market
Users can trade the NFT items necessary for enjoying Stream & Earn, such as game controllers, buttons, and badges, on the CLOID In-App Market. Users can easily trade NFTs by transmitting their NFTs stored in their personal wallets via smart contracts. There is no need for separate contracts. At this time, part of the transaction cost is paid as a fee. Additional payment policies in the future may be determined by a decentralized organization (DAO).
Stream&Earn
For more information on the token economy used in Steam & Earn, please refer to Section 3.2. Game-Fi.
Staking
CLOID builds a sustainable token ecosystem by providing incentives to continuously hold CGT tokens. Staking also allows users to participate in governance, and CGT token stakers can participate in even more special events or get bonus opportunities.
Staked CGT tokens are not fluid, cannot be transferred or sold, and cannot be unstaked for a certain period of time. Users with staked tokens can participate in governance voting related to the DAO.
CLOID introduces a governance mechanism that allows the holders of staked CGT tokens to vote for or against various proposed changes to the ecosystem. Each CGT token staked is worth a vote, and the more CGT tokens the token holder has, the more likely they are to affect the results of the voting. A detailed explanation of this follows.
DAO & Treasury
The main purpose and utility of CGT tokens is to establish and implement governance mechanisms. The development of the CLOID platform will follow decentralized policy-making practices by introducing the DAO mechanism. The governance mechanism relies on total “Voting Power” when major voting proposals are implemented. The users obtain Voting Power (VP) by staking CGT tokens. The activation of the DAO gradually progresses through several stages.
Step 1 (Initial Stage)
The first step in building a complete decentralization mechanism will be the dashboard, an early version of governance (DAO). On the dashboard, users can vote on policy decisions for the CLOID ecosystem. The staking function is accessed through a separate UI and will provide VP to the user. At the initial stage, voting will only be allowed on topics such as costs, fee reduction, DAO pool functions, and other small functions.
Step 2 (Upgrade Stage)
The second step will be to upgrade the DAO's UI/UX to include a staking function and further strengthen its other functions. An on-chain vote will be held on more detailed policy decisions. The number of staking tokens required to vote may be adjusted.
Step 3 (Final Stage)
In the third step, CGT token holders will be able to change the governance framework and select new items to vote on. The proposals that can be decided through the DAO using VP can be seen below.
Governance Voting Agenda
A user who has obtained a certain amount of VP may submit a proposal to the DAO. The types of proposals are as follows:
Proposals related to the Registration of Platform Games
Proposals related to the Utilization of the DAO Treasury
Proposals related to the Token Economy
Other Project-related Proposals
Other Fee-related Proposals
VP (Voting Power)
VP means the right to vote in the DAO. Participants can use their VP to vote on proposals submitted to the DAO. The more VP they have, the more they can affect the results of the vote. A participant's VP is determined by the amount of CGT tokens they own at the time the block with the vote was submitted. If a submitted proposal gets over half of the 26 votes, it will be applied to the CLOID ecosystem. All transactions related to the submission and voting of governance proposals are posted on the blockchain.
Treasury
In the CLOID token ecosystem, a certain portion of token payment fees, NFT transactions, and production fees are accumulated in the Treasury. The CLOID platform will be decentralized step by step, and when decentralization is reached, CGT token stakers will manage the Treasury.The revenue sources allocated to and accumulated in the Treasury are as follows.
Game Subscription Fees
Game Usage Payment Fees
In-game Payment Fees
Developer’s Account
Registration Fees
Game Registration Fees
NFT Transaction Fees
NFT Creation Fee
Users may enjoy new gaming content announced in the CLOID ecosystem. As new gaming content continues to be released and popular content accumulates, potential rewards accumulated in the Treasury will also steadily increase. In the future, additional fees may be allocated to the Treasury according to services provided by the CLOID platform. When the DAO is activated, CGT token holders can propose how to use the tokens accumulated in the Treasury. CGT token stakers will vote on the submitted proposals. If the proposal passes, the tokens will be used accordingly. Detailed information about submitted proposals, voting procedures, and the division of funds will be announced in detail after the DAO launches.
Burning
A portion of CGT tokens are burned through the following activities:
Level Up Controllers: Users burn CGT tokens to upgrade their controller to a certain level.
Create Controllers: When a user opens their newly created controller box, the user burns CGT tokens to increase the probability of receiving a higher grade controller. In addition, they can burn CGT tokens to increase the probability that they will receive two controller boxes.
Redistributing Controller Attribute Points: Users can burn CGT tokens to redistribute the four types of attribute points of their game controller. Button Upgrade Users can burn CGT tokens to upgrade their buttons to a certain level.
Button Upgrade: Users can burn CGT tokens to upgrade their buttons to a certain level.
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