Tencent-backed Arena of Faith, a free to play blockchain MOBA and gaming ecosystem, is soon getting its very own token called $ACP. Players have been able to play to airdrop for the cryptocurrency in the web3 game since July of this year, but now the developers have officially published $ACP tokenomics to give us details on supply allocation but also more info on the economic model that will be used to power play to earn experiences.
What Is the $ACP Token?
The $ACP token is the upcoming earnable core token of Arena of Faith that players will be able to use not just for minting and progression features in the main game itself, but also in various other games across the studio’s esports-focused blockchain gaming ecosystem.
$ACP is set to have a total supply of 1 billion, 45% of which is allocated for the community, while 20% is reserved for investors, 15% for the team, and 8% for the ecosystem, with the rest of the supply distributed to marketing, advisors, 2 public sales, and initial liquidity. No vesting schedule is available at the time of writing, nor is there a TGE date yet.
What Core Benefits Does $ACP Bring to Arena of Faith Players?
Some of the core benefits that the token brings to players across the ecosystem include the ability to mint NFTs, stake for validation nodes, participate in governance, and to progress through the ecosystem’s flagship blockchain game by burning the token to upgrade heroes, gain access to premium content, and unlock various customizable assets.
To go in more detail though, the economic model of $ACP is comprised of 3 core aspects: deflationary design, cross-game utility, and Proof of FrameSync (POFS) technology.
Deflationary Design
Burning mechanisms and the token’s usage across multiple games are what make up its deflationary design. By having it used as a universal currency across multiple web3 games, there is more potential to increase the token’s demand, as players burn it to create “mining machines” like Hero Card NFTs to increase your earning potential through skill-based gameplay in PvP tournaments. Next to spending on various NFTs, players will also use the token to make in-game asset upgrades and unlock various in-game characters and certain gear, with all this said to improve your voting governance rights, priority status, and role permissions.
Cross-game Utility
Instead of keeping the token closed to a single title and thus limiting its lifespan, the developers want to continuously expand the use cases for $ACP by integrating it into various blockchain gaming experiences. This means that $ACP is not only an ecosystem token to be used for the studio’s games, but it’s also a cross-ecosystem cryptocurrency that could be utilized in partnership with other web3 gaming projects from various ecosystems. As for the team’s own ecosystem though, the assets that players upgrade and acquire by burning and spending tokens will be interoperable with other games belonging to the same IP.
Proof of FrameSync Technology
Proof of FrameSync technology is a mechanism that brings settlement data and game processes on-chain to ensure transparency and better security, instead of having everything go through game servers. This means that everything players do, and all data needed for reward distribution, is fully recorded on-chain. With this method, the official Medium announcement post states that the “risks of cheating and data tampering” are gone. The usage of on-chain settlements is also said to add transparency to game asset trading and reward distribution, delivering a smoother user experience with reduced delays when compared to off-chain settlements. In-game data will be verified with POFS tech for various web3-powered competitive events and also for Arena of Faith.
Players will be able to stake $ACP tokens to support and power the validation nodes used for this technology while earning token rewards from the POFS verification process.
Next to unveiling these tokenomics, Arena of Faith also participated and hosted their own tournament in YGG Play Summit 2024 this month.
