Emerald City: Introducing Forex
Forex will allow users to receive Polygon Gangstabet NFTs by locking their CROWN tokens for one year. 50% will be returned back to the user in one year, 10% will go to the Bank, 20% to the Development and Marketing Fund, and 20% will be burnt.
The primary use of Forex is to connect the ICON Emerald City to other Gangstabet Cities in the metaverse. Since Polygon’s Sapphire City is next in our roadmap, we will create a limited bridge to connect Emerald City to Sapphire City.
In the beginning, Forex will allow users to lock their CROWN tokens (ICON Network) to receive a Gangstabet Pass in their Metamask wallet (Polygon Network). A Polygon Gangstabet NFT can be redeemed using the Pass. The NFT pass will also be immediately available in OpenSea Marketplace.
How will it work?
- A fixed number of Gangstabet Pass will be available for minting in the Forex every week.
- New batches of Passes will be available for minting every week for six months.
- Minting will be first-come-first-serve. If the weekly allocation is complete, they will need to wait for the next cycle in one week.
- The mints will be overflowed to the next cycle (week) if there are remaining Passes in the last cycle.
- 50% of the CROWN tokens will be returned to the user in exactly one year, 20% will be burnt, 10% will go to the Bank, and the remaining 20% will go to the development and marketing team.
- Immediately after locking up their CROWN, they will receive the Gangstabet Pass NFT in their Polygon wallet. It will show up on the website and OpenSea Marketplace.
- The Passes can be used to redeem a GangstaBet NFT in the Polygon Network when NFT minting is live. The expected date of release is by the end of the year.
- The weekly allocation and CROWN cost will be made public before the launch of the Forex.
We are excited to publish the first use case, Forex — a multi-chain mint. There will be several more features of the Forex, and we can’t wait to share more.