MOONKARTS | Why You should Focus on Staking COLONY Tokens

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Hello Moonkarters!

I hope you all are busy racing through the asphalt race tracks in Moonkarts game and enjoying the thrill while competing against other players across the globe. Developed by the Arcade Colony company, this Arcade-style play2earn Kart racing game is making some real hype across the Hive chain and beyond. I have been playing this game for around 2 months, and without a doubt, this game has given me the best experience so far in a blockchain game. Being a die hard Hive lover and not to mention after burning my hands a couple of times while investing in projects outside Hive, I have stopped to engage with crypto games outside Hive anymore and right now, I only actively engage with 2 games in Hive - Splinterlands and Moonkarts and not to mention, I also love to share my experience through my posts with you all.

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I started my journey with Splinterlands back in 2018, soon after it got launched, and since then, it has been my favourite crypto game to date. But after I started engaging with Moonkarts, I started to love this game as well because it's totally fun to play and does not break your pocket to start your journey in this amazing 3D Racing game. In today’s post, I will be talking about the Colony token, which is the reward currency of this game, its importance in the game, and also about my goal & plan with this token. So, if you are interested, let’s dive without any further ado.

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If you have been playing Moonkarts, then you may have already noticed that we have already passed season 20, so if you have secured top positions in the last season, then congratulations on your colony rewards, and I hope you are keeping them all in staked form. Anyway, another fresh ranked season 21 has also started in multiplayer mode. Looking at the season clock, it will end after around 9 days. Sadly, I was not able to claim any rewards from the previous season because of my weak racing setup, so right now I am aiming to upgrade my Kart and some other cards to increase my overall stats.

Colony Token

Now, moving on, let us talk about Colony tokens, and for those who don’t know, the colony token is the in-game reward token of Moonkarts and also the governance token for the Arcade Colony platform. Colony token is a layer 2 token on the Hive blockchain and can be bought, sold, and traded easily in Hive-Engine. Arcade Colony is actually a web3-based gaming platform which was created by the Invennium corporation, and this platform is 100% owned by Splinterlands, which is a big reason why I trust this project enough to pour money into it.

Because the Arcade Colony platform is owned by Splinterlands, all three different games by Splinterlands Company - Splinterlands, Genesis League Goals, and Moonkarts are available on this platform. However, each game has its own unique tokens. But, the advantage of the Colony token is not only that it is the in-game reward token, but it is also the governance token of the Arcade colony platform, similar to SPS, which is both the in-game reward token and Governance token for the Splinterlands game.

Now, there are two different tokens in Moonkarts, as well as in the Arcade Colony platform.

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COLONY - It is the in-game reward token for the Moonkarts game and the Governance token for the Arcade Colony platform. It works similarly to the SPS (Splintershards) token in the Splinterlands game. Another great use case of the Colony token is that just like SPS, the more Colony tokens you stake in Moonkarts in-game wallet, the more Colony tokens you can earn while competing in multiplayer mode, winning races, and securing a top place on the leaderboard.

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SCRIPT - Script is another token in the Moonkarts game, similar to the DEC token in the Splinterlands game. This token is also required to be staked with Moonkarts cards in order to generate Fuel, an in-game item which is needed to participate in multiplayer races.

Colony Future Utility

Now, apart from the main usages of Colony tokens, which I mentioned above, there is more to come in the future, such as:

• Staking Rewards

• Reducing Network Fee

• Upgrading various player-owned aspects of the game

• Minting new SCRIPT Tokens through burning of COLONY Tokens.

Why Stake Colony Tokens

Now, you may be wondering why I should buy and stake Colony tokens. What’s in it for me? Well, let’s find out.

As shared in the official Arcade Colony whitepaper, a total of 50 million COLONY tokens are allocated to play2earn rewards for Moonkarts players per season. The total amount of COLONY tokens is given out in multiple pools as shared in the Table below.

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As you can see, a large amount of Colony tokens are being given out to players per season (10-day period) for mainly participating in multiplayer races. Now, if you have a good amount of COLONY tokens staked in your account and you perform well in races and manage to secure a good spot in both the Ranked and Orbital season leaderboards, you will be earning a large slice of that pie every 10 days. Though users can still earn COLONY tokens even without staking, in order to get the highest possible reward, users must stake Colony tokens in their in-game wallet. This mechanism encourages users to stake COLONY tokens and helps build a healthy economy.

COLONY STAKING MULTIPLIER

Below is the calculation showing how a player’s reward multiplier depends upon the staking amount.

COLONY Staking Multiplier = Max((staked_colony / (staked_colony + rating_constant)) * 20, 1)

rating_constant = ((rating + 500) * 0.011603) ^ 3

where, rating = min(user rating points, 4000)

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MULTIPLIER/RATING CHART

Now, in the table above, it shows how the amount of staked (or delegated) COLONY tokens required to achieve different multipliers at various Ratings. As you can clearly see, as you start to reach higher ratings while competing in the game, a significantly higher amount of COLONY tokens is required to unlock the higher level multipliers. For example, at 400 ratings, to earn 4x multiplier rewards, players need to stake only 267.95 COLONY tokens, and for the same rating, to unlock 20x multiplier rewards, a player needs to stake 22,775.53 COLONY tokens. But when the player climbs up to a higher rating, upon reaching 2000 rating, a player needs to stake 5,743.04 COLONY tokens to get a 4x multiplier and a whopping 488,158.6 COLONY tokens to get the 20x multiplier.

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MY COLONY STAKE

I have started my COLONY staking journey only recently, and apart from Colony Tokens, I am also focusing on buying Moonkarts Cards to boost my performance in the game. Gladly, I have recently passed staking 15,000 Colony tokens and right now, my total COLONY token staked balance is 15,435.233. With COLONY tokens, my current term goal is to stake at least 100K tokens in my account. But right now, I am focusing on upgrading my Epic Quasar Sport Kart card to level 2 first, because I badly want to win races, and without a good setup, it's impossible to win races right now. After that, I will be focusing again on COLONY tokens and reaching 25k, which is my next top priority. Let’s see how it goes.

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Please note: I am not a Financial Advisor and this post is not financial advice. Please do your own research before investing in crypto.

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Important Links

• Moonkarts game
• Arcade Colony Website
• Arcade Colony Whitepaper
• Hive ID
• X/Twitter Handle

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Screenshots are taken from MoonKarts in-game.

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I hope you enjoyed reading about COLONY Tokens and Why You should focus on Staking more. In the comment section below, let me know what your current top racing setup is. That’s it for today guys and I will see you all in my next post.

Posted Using INLEO