This blog article is not the final version Vulcan Forged white paper 2.0. It is a draft and temporary article aimed at providing visibility on one part of the document currently being drafted.
Note – this is a section taken from the draft of the Vulcan Forged Whitepaper 2.0 and at present is subject to review.
Economy
A thriving circular economy is vital to the success of Web3 blockchain gaming businesses such as Vulcan Forged. Through a circular economy, the value of in-game assets and virtual goods is preserved and continually circulated within the gaming ecosystem, creating a sustainable economic model where players can buy, sell, and trade assets, fostering a vibrant marketplace and driving engagement. Player retention and loyalty is encouraged, players feel a sense of ownership and investment in their assets and they are more likely to continue playing and participating in the ecosystem, contributing to its growth and longevity. Additionally, a circular economy promotes innovation and creativity by incentivizing players and developers to create new and unique assets and gameplay experiences that can be exchanged and appreciated by others. This dynamic ecosystem not only benefits the players but also provides revenue opportunities for Vulcan Forged through transaction fees and platform services. Both revenue streams for Vulcan Forged and rewards for the playing community enhances the overall player experience, drives economic growth, and fosters a sustainable and prosperous ecosystem for all stakeholders involved.
Elysium Nodes
Cronus Node
The Cronus node is a physical node. Should someone become a Cronus Node holder they willl need to rent a server and deploy software in order to be able to operate this node. The Elysium blockchain team will supply software images for the server to be set up correctly, and some technical knowledge will be required, although an external consultant could be used to cover this. We emphasize that all Cronus Node holders should make every effort to ensure that their server is green – that is that it should be a carbon neutral operation in-line with Elysium’s ethos and green credentials.
We have several Cronus node holders at present and are currently analyzing new applications. Not everyone will be able to own a Cronus Node. Only validated entities can run one. These entities should actively try and contribute to the future of Elysium.
We consider entities to be eligible if the following requirements are met:
- Technical understanding of how to set a node
- Minimal technical requirements as follow: VPS with minimum 16GB RAM, 500GB SSD, 8 CPU Cores
- Node hardware should be hosted using a 100% carbon neutral solution
- The owner must stake at least 50,000 $PYR in the node’s address. This 50,000 $PYR will not breach a potential Philosopher membership.
- If the owner moves or spends $PYR, causing the total amount to drop below the threshold of 50,000 $PYR, the owner will be disqualified and replaced by another candidate on the waiting list.
- Downtime will result in fewer rewards. The Elysium blockchain team monitors nodes closely.
We are considering applicants from these groups:
- Partner projects using the Elysium blockchain
- Game developers/companies creating games on the Elysium blockchain
- Significant community contribution
- Vulcan Forged Philosophers (limited slots available)
- VCs with long term commitment adding value for Elysium
There are a maximum of 51 Cronus nodes. Cronus Node rewards are covered in the next section: Revenue Streams & Rewards.
If you would like to participate and become a validator, you can fill an expression of interest using our form here
Demeter Node
VulcanVerse land is where it all started for many members of the Vulcan Forged community. Land in VulcanVerse has always been valuable, whether based on the fun of building on it, the prestige of owning virtual land, or the financial benefits associated with it. Through the Elysium Node program, owners of land plots will receive $LAVA for owning a level 4 – level 7 land plot as they will be classed as being at Demeter Node level. Land staking is not affected by this in any way, the Demeter Node rewards can be considered a bonus.
REWARDS BASED ON LAND LEVEL:
Level 4 plots: 10% of the Demeter fee pool allocated to all plots
Level 5 plots: 18% of the Demeter fee pool allocated to all plots
Level 6 plots: 28% of the Demeter fee pool allocated to all plots
Level 7 plots: 44% of the Demeter fee pool allocated to all plots
REQUIREMENTS:
- As soon as a plot changes ownership, a 1-month cooling down period will be activated. If the plot is listed on the marketplace, Demeter Node rewards are paused until such time as the plot returns to the original owner, or is sold.
- The plot owner will not receive any $LAVA from the Demeter Pool during the 1 month cooling-down period. The rewards will be distributed between the other eligible nodes.
- The plot owner needs to earn at least 200 XP daily to become eligible for the Demeter pool rewards (though this is subject to ongoing review). XP generated by Cedalions can cover this.
Demeter Node rewards are covered in section 5.1 Revenue Streams & Rewards.
Elysium Forges
There are six Elysium Forge tiers. Tier 1 starts at 2,000 locked PYR, while tier 6 is based on 64,000 PYR locked. Elysium Forges can be locked for a certain period to increase the rewards. Elysium Forges will be able to be converted to delegate the staked PYR to one of the authority nodes. (TBA)
- Cyclops tier 1 forge: 2,000 $PYR
- Sphinx tier 2 forge: 4,000 $PYR
- Cerberus tier 3 forge: 8,000 $PYR
- Gorgon tier 4 forge: 16,000 $PYR
- Hydra tier 5 forge: 32,000 $PYR
- Kraken tier 6 forge: 64,000 $PYR
All Elysium Forges will receive part of the sowing costs, the LAVA gas fees on Elysium, and the royalty fees. Elysium Forges can participate in the God Pool and NFT Pool.
Elysium Forge rewards are covered in the next section (Revenue Streams & Rewards).
LOCKING YOUR NODE
As mentioned before, rewards will be done at weekly intervals. We will perform random daily snapshots to check if the node is still eligible for the rewards.
It will be possible to lock your node using a soft-lock mechanism based on snapshots. We will be unlocking the extra rewards you collected as soon as the locking period ends. During this period, you will receive the normal base generation amount.
CRONUS NODES staking:
169% base generation amount
ELYSIUM FORGES flexible staking:
- Tier 1: 100% base generation amount
- Tier 2: 103% base generation amount
- Tier 3: 106% base generation amount
- Tier 4: 109% base generation amount
- Tier 5: 113% base generation amount
- Tier 6: 116% base generation amount
ELYSIUM FORGES 60 days lockup
- Tier 1: 110% base generation amount
- Tier 2: 115% base generation amount
- Tier 3: 121% base generation amount
- Tier 4: 127% base generation amount
- Tier 5: 133% base generation amount
- Tier 6: 139% base generation amount
ELYSIUM FORGES 120 days lockup:
- Tier 1: 121% base generation amount
- Tier 2: 129% base generation amount
- Tier 3: 138% base generation amount
- Tier 4: 147% base generation amount
- Tier 5: 157% base generation amount
- Tier 6: 169% base generation amount
This is based on $PYR single staking. Your bonus will be distributed back into the main $LAVA reward pool if you drop below your locked threshold.
Revenue Streams & Rewards
Node Rewards
Node holders will be rewarded, mainly with LAVA. Vulcan Forged is determined to create a sustainable and balanced economy and so uses several ways to collect rewards for node holders. For now, we offer three types of nodes: Cronus, Demeter, and Elysium Forges. Higher-tier nodes receive slightly better incentives, the same applies for higher locking periods.
Currently, these are the fees used for the rewards:
- LAVA that‘s used as gas on the Elysium blockchain
- LAVA that‘s being paid for sowing NFTs
- Royalty fees generated on the Agora marketplace. A percentage of fees from NFT sales will be distributed to node holders.
N.B. Royalty fees are paid in a % of PYR and other ELS-20 token transactions on the market.
LAVA POOLS
Pools will be used for LAVA distribution. The pools will collect LAVA constantly and distribute the rewards on a weekly basis.
The $LAVA transaction fees will be distributed as follows:
- 50% of the fees will be available as a reward for Cronus Nodes and Elysium Forges
- 10% of the $LAVA will be divided between the Demeter Nodes.
- 10% of the $LAVA will be used to fill up the Vulcan Forged gaming pools (for non-Frenzy pass holders).
- 10% of the $LAVA is donated to the Elysium ecological & environmental pool.
- 20% is burned.
The marketplace royalty fees will be distributed as follows:
- 40% will be distributed as rewards for nodes (the Magma Protocol will be used to convert tokens paid into PYR)
- 50% will be distributed to the foundation treasury (the Magma Protocol will be used to convert tokens paid into PYR).
- 10% will be donated to the Elysium ecological & environmental pool
The LAVA sowing fees will be distributed as follows:
- 20% of the LAVA will be burned.
- 80% of the fees will be available as a reward for Cronus Nodes and Elysium Forges
Cronus Node Rewards
Cronus node holders will be rewarded for keeping the Elysium blockchain secure through transaction fees, royalty fees, and sowing fees. The Cronus node will receive a bonus on top of the base generation amount because there are costs to keep the node online and secure.
All Cronus nodes holders will receive part of the sowing costs, LAVA gas fees on Elysium, and the royalty fees. Cronus node holders can participate in the God Pool and NFT Pool. Please check the ‘rewards for nodes’ section at the top of this article for specifications regarding the rewards.
Demeter Node Rewards
10% of all transaction fees generated on the Elysium blockchain will be divided between Demeter Nodes. The $LAVA fees will be dropped into a Demeter reward pool. This pool will be distributed every week to all participating land plots based on the percentages mentioned above.
All Demeter Nodes can also participate in the God Pool and NFT Pool.
Elysium Forge Rewards
All Elysium Forges will receive part of the sowing costs, LAVA gas fees on Elysium, and the royalty fees. Elysium Forges can participate in the God Pool and NFT Pool.
God Pool and NFT Pool Rewards
LAVA Pools
We will use pools for LAVA distribution. The pools will collect the LAVA non-stop and distribute the rewards every week.
The LAVA transaction fees will be distributed as follows:
- 50% of the fees will be available as a reward for Cronus Nodes and Elysium Forges
- 10% of the LAVA will be divided between the Demeter Nodes.
- 10% of the LAVA will be used to fill up the Vulcan Forged gaming pools (for non-Frenzy pass holders).
- 10% of the LAVA is donated to the Elysium ecological & environmental pool.
- 20% is burned.
The marketplace royalty fees will be distributed as follows:
- 20% will be distributed as rewards for nodes. (the Magma Protocol will be used to convert tokens paid into PYR)
- 70% will be distributed to the foundation treasury (the Magma Protocol will be used to convert tokens paid into PYR).
- 10% will be donated to the Elysium ecological & environmental pool
The $LAVA sowing fees will be distributed as follows:
- 30% of the $LAVA will be burned.
- 70% of the fees will be available as a reward for Cronus Node holders and Elysium Forge holders.
Elysium God Pool
Vulcan Gods become even more valuable as owners can boost their staking income by holding God NFTs. The NFTs will increase the base generation amount. It will basically boost the reward potential.
- Zeus or Cronus holders: +15% staking rewards for base generation amount
- God holders: +5% staking rewards for base generation amount
Note- the highest god value will be used. Gods are not stackable.
The God Pool applies to Cronus, Demeter, and Elysium Forges.
Elysium NFT Pool
Previously a 1% boost for the base generation amount for each Vulcanite NFT held was proposed. Vulcan Forged will now offer a bonus for higher-level Vulcanites.
Vulcanite and OG badge holders will be able to boost their staking income. The NFT Pool will reward LAVA based on the following increased reward boosts:
- Hold at least 1 x Level 1 Vulcanite: base generation amount + 1.00%
- Hold at least 1 x Level 2 Vulcanite: base generation amount + 1.25%
- Hold at least 1 x Level 3 Vulcanite: base generation amount + 1.50%
- Hold at least 1 x Level 4 Vulcanite: base generation amount + 1.75%
- Hold at least 1 x Level 5 Vulcanite: base generation amount + 2.00%
- Hold at least 1 x Level 6 Vulcanite: base generation amount + 2.5%
For a maximum bonus of 10% on top of the base rewards an owner will receive.
OG Badge bonus (not stackable): 2.5% staking reward for the total reward.
Node NFT
For early Elysium adopters, Vulcan Forged will distribute Node NFTs. These NFTs will boost rewards from the node – but if you do not own the Node NFT, you will still receive the base rewards, including the locking and tier bonus. It will be possible to trade Node NFTs.