Vulcan Forged PYR is a utility token on the Chromia blockchain. It is used to power the Vulcan Forged ecosystem, which includes a number of blockchain-based games, a marketplace for NFTs, and a staking platform.
PYR can be used to:
- Purchase NFTs on the Vulcan Forged marketplace
- Stake PYR to earn rewards
- Participate in governance of the Vulcan Forged ecosystem
- Pay for fees within the Vulcan Forged ecosystem
PYR is a valuable asset for anyone who is interested in participating in the Vulcan Forged ecosystem. It can be used to purchase NFTs, stake for rewards, and participate in governance. PYR is also a store of value, as its value is expected to increase as the Vulcan Forged ecosystem grows.
Here are some of the key features of PYR:
- Utility: PYR is a utility token that can be used to power the Vulcan Forged ecosystem.
- Scarcity: There is a limited supply of PYR, which makes it a scarce asset.
- Security: PYR is secured by the Chromia blockchain, which is a high-performance, scalable, and secure blockchain.
- Governance: PYR holders can participate in the governance of the Vulcan Forged ecosystem.
- Staking: PYR holders can stake their tokens to earn rewards.
PYR is a promising new cryptocurrency with the potential to increase in value over time. It is a utility token that can be used to power the Vulcan Forged ecosystem, which is a growing and exciting space.
Here are some additional things you can do with PYR:
- Use PYR to access exclusive content and features: PYR holders may be able to access exclusive content and features within the Vulcan Forged ecosystem. This could include early access to games, new features, and events.
- Use PYR to support your favorite games and creators: PYR can be used to support your favorite games and creators within the Vulcan Forged ecosystem. This could include buying NFTs from your favorite creators, or voting on proposals that support your favorite games.
- Use PYR to help shape the future of the Vulcan Forged ecosystem: PYR holders can help shape the future of the Vulcan Forged ecosystem by participating in governance. This means that they can vote on proposals that affect the future of the ecosystem.
PYR is a powerful tool that can be used to participate in the Vulcan Forged ecosystem and help shape the future of gaming.
Here are some of the benefits of using PYR:
- Utility: PYR is a utility token that can be used to power the Vulcan Forged ecosystem. This means that it has real-world use cases and is not just a speculative investment.
- Scarcity: There is a limited supply of PYR, which makes it a scarce asset. This could lead to increased demand and higher prices in the future.
- Security: PYR is secured by the Chromia blockchain, which is a high-performance, scalable, and secure blockchain. This means that your PYR tokens are safe and secure.
- Governance: PYR holders can participate in the governance of the Vulcan Forged ecosystem. This means that you have a say in how the ecosystem is run.
- Staking: PYR holders can stake their tokens to earn rewards. This is a great way to earn passive income on your PYR holdings.
If you are looking for a cryptocurrency with real-world use cases, scarcity, security, governance, and staking opportunities, then PYR is a great option.
The Vulcan Foundation will fund a staking PYR reward pool with 10M initial tokens released over a 48 month period. Along with the foundation’s contributions, the pools will be added to in four ways (for now), each time equally divided between the two:
- 50% of the fee taken from every Vulcan Marketplace transaction will go into the reward pool
- 10% of every fee taken from direct asset sales (Berserk cards, or Vulcanites for example) will go into the reward pool.
- 50% of every upgrade fee for land, Titans, and Olympians will go into the reward pool
- 10% of every prize pool and tournament fee setup in the Frenzy game goes to the reward pool.
Inside of the flagship game VulcanVerse, the major use case for $PYR is in leveling up and staking in your NFT land(s) and NFT God(s). Each level increase (up to level 7) will have a $PYR fee and also require a $PYR deposit in the form of token staking.
The fee is non-refundable but the staked coins can be removed at any time. Removing staked coins will, however; lower the level of your land or God to the corresponding amount of $PYR remaining staked (e.g. removing X amount could reduce your land from level 4 to level 2). Upgraded land is eligible for monthly $PYR rewards from the $PYR staking reward pool.
The level and quantity of your lands compared to the levels of all other lands in VulcanVerse will determine how much you will receive as part of the monthly $PYR reward pool dividends.
Leveling up your land allows for increased access to more building tools, better assets, and treasure pits worth greater value. Using $PYR to level up your God will not only change the dynamic nature of your NFT image (as there are unique images for each of the 24 God’s 7 levels), but will also do four critical things:
- A level 7 God will grant you access to Elysium, an exclusive area inside VulcanVerse where you can use your vulcanite to forage (search) for ultra-rare NFTs from the Vaults of Vulcan.
- Raise your percentage of the monthly reward pool by 10% per level increase (e.g. if you earned 100 $PYR, with a 10% increase, you would receive 110 $PYR). Larger reward pool earnings = more $PYR to use within the Vulcan Forged ecosystem!
- Raise your percentage of $LAVA won while playing Vulcan Forged games by a 10% per level increase. $LAVA is used for numerous purposes across Vulcan Forged dApps, such as leveling up your vulcanite’s stats.
- Reduce the seller’s fee in the marketplace reaching 0% at level 7. All of the NFT items you find while foraging, earn by completing quests, etc. in-game can be sold on the marketplace. Reduced seller’s fee = larger $PYR profits!