Mogaland will introduce a meaningful token economy that is transparent, robust and rewarding.
To further its mission from democratizing financial literacy to democratizing financial rewards, Mogaland will start with a single token system that is transparent, robust, and rewarding by introducing MOGA.
MOGA is a multifunctional utility token, with applications both in-game and in real-world economics. As an asset, MOGA is low-velocity with long-term store-of-value that incentivizes governance of the Mogaland economy for its sustainable evolution. Players can decide for themselves, at any part of the journey, to connect their wallet and unlock additional cryptocurrency-based rewards in the forms of NFTs and MOGA token.
Mogaland will start with a single fixed-supply token economy. In previous years, many P2E game projects followed the lead of Axie Infinity and operated under the dual token model with a utility token and a governance token. In a dual token model, the utility tokens are usually designed to be an “in-game” token, without supply limitations, which can be generated and burned as needed to create a balanced game economy; and governance tokens are generally designed to have fixed supplies to allow for easier value accrual over time. The dual token model often aims to decouple investor economics from gamer economics, using the separation of tokens to lessen the impacts between market speculation (governance token prices) and gaming experience (utility token prices), however, is not always successful in practice. The two tokens have innately different utilities and holder-incentives, which naturally resulted in misaligned holder-motivations, over time, the conflict of interests between governance token holders and utility token holders could lead to governance decisions that decrease utility token value, decrease game attractiveness and in-game activities and disintegration of the community.
It is also evident that despite the occasionally misaligned token holder incentives, token holders’ confidence for both tokens are, however, positively correlated. Due to its unlimited supply, in-game tokens are prone to value loss, which disincentives gamers interest and eventually will decrease governance token holders’ interests in the project as well.
Mogaland’s single fixed-supply token economy lowers risks of oversupply and hyperinflation. With learn-to-earn tokens set aside to be unlocked based on players’ accumulative achievements, the game does not rely on new players joining the ecosystem to grow the in-game circulation to survive.
One thing worth keeping in mind is that this one token model is a part of a multi-in-game currency economy, which will offer in-game interactions that are diverse in nature while keeping the real-world rewards more stable.
In the future, Mogaland will embrace a multi-chain approach for its native utility token, MOGA, to create more opportunities and decrease frictions for all participants of the ecosystem. Initially, MOGA token will be built on two different blockchains: Ethereum and Polygon. Each blockchain has unique utility and serves distinct purposes. For example, Polygon's scaling mechanisms will enable users to buy and trade in-game collectibles at a much lower network cost, without sacrificing security since Polygon operates as a layer 2 scaling solution.
Mogaland’s multi-chain strategy prioritizes the user experience within the Mogaland ecosystem. While each solution has its advantages, Polygon and Ethereum work together to create efficient, scalable, and inexpensive transactions.
The table below outlines the proposed chain-specific utility on Ethereum and Polygon within the Mogaland ecosystem: