Seedworld recently launched a new initiative allowing $SNFTS holders to acquire $SWORLD tokens through a token burning mechanism. This guide covers the essentials of the $SWORLD token, details the bonus burning pool, and introduces the BURN dashboard, offering $SNFTS holders a clear path to participate in this new opportunity.
$SWORLD token
The $SWORLD token, newly introduced by Seedworld, has a total supply of 20 billion tokens, matching that of $SNFTS. This means that holders of $SNFTS can exchange their tokens for $SWORLD tokens at a one-to-one ratio, so for every $SNFTS token burned, they receive one $SWORLD token.
Once exchanged, these $SWORLD tokens are gradually released to the holders to ensure they enter the market slowly and steadily. Initially, at the Token Generation Event (TGE), holders can claim 25% of their $SWORLD tokens. The remaining tokens are then released gradually over four months following a one-month waiting period.
Bonus Burning Pool
The Bonus Burning Pool is a special feature of the $SWORLD token acquisition process. It offers additional rewards to users who burn their $SNFTS tokens within the first 14 days after the launch of the burn dashboard. Specifically, 1% of the entire $SWORLD supply is set aside for this pool.
The tokens from this pool are fully released at the Token Generation Event (TGE), with no vesting schedule. The number of $SWORLD tokens each participant receives from this pool is based on how many $SNFTS they burn compared to the total amount burned by everyone during this early period.
Detailed Instructions on the Burn Mechanism & Early Bonus
To participate in the $SWORLD acquisition through $SNFTS burning, follow these detailed steps:
- Access the Burn Dashboard: Log in with your wallet where $SNFTS are stored.
- Enter Burn Amount: Input the number of $SNFTS tokens you wish to burn.
- Confirm the Burn: Execute the burn by confirming the transaction in your wallet. The tokens will be sent to a dead wallet, effectively removing them from circulation.
- View Updates: Post-burn, the dashboard will update to reflect your new balance of $SNFTS, the amount of regular and bonus $SWORLD tokens you can claim, and your percentage share in the bonus pool.
- Claim $SWORLD Tokens: Follow the instructions on the dashboard to claim your $SWORLD tokens as per the vesting schedule.
What is Seedworld?
Seedworld is a blockchain based game set in a post-apocalyptic environment where players can earn real money. Built on the Avalanche blockchain, it ensures quick and secure gameplay. In Seedworld, players explore various landscapes, finding treasures and completing quests.
Another key feature is the breeding of creatures called Seedlings, which can be combined to create new, stronger varieties. Players also engage in battles against others or computer-controlled enemies to earn rewards. Additionally, they can trade assets like Seedlings, land, or items within the game, potentially making a profit.
For more details about the token burning process and early bonus eligibility, visit the announcement here.
