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Faketown's native currency is an ERC20 token called "Fake Coin" or FAKE
The goal of our token is not to be a financial instrument. Faketown is a playful environment that simulates real world economics and governance. While some blockchain games focus on 3D graphics we emphasize the dynamic relationship between players and the micro-economics of their town.
Fake Coins are used for the following:
Buying lots within towns
Minting functional NFT assets via minting machines
Paying dividends to elected town mayors
Paying dividends for town residents
Paying dividends to town owners
Paying bonus rewards to residents
Fake Coin Distribution
The total supply of Fake Coins is fixed at 1,000,000,000
For liquidity providers and private sales
For the developers and designers of the platform
Grants to artists who contribute content
Marketing the platform and executing promotions
Business advisors and partnerships
Residents are awarded governance tokens for minting and belonging to a town.
Flow of Funds
Towns are created with a grid of 14 x 14 lots. Each town can contain up to 196 lots and support up to 196 citizens. Each town is a unique ERC721 token that contains a collection of lots, which are also ERC721 tokens.
Towns have the following attributes:
The maximum number of lots/residents a town can support. More residents means more contributors to your town's economy.
Lots available to buy on secondary markets.
The type of terrain associated with your town. May affect minting capabilities.
The block style used for constructing a property. Different towns mint different styles.
The background scene behind the building on the property.
Each town will maintain its own treasury that is governed by its citizens and elected mayor.
Residents are able to mint building blocks that correspond to their town style. When a resident purchases a plot they will be granted a minting machine by default. Players can stake Fake Coins in the minting machine to produce random blocks that can be used to create a building on their property. Some blocks are common whereas other blocks are rare.
Clicking on a lot zooms into a "ground level" view.
Mayors are elected by the residents each month. Citizens of the town vote with governance tokens that are earned alongside XP within the game.
The following town parameters can be adjusted by the Mayor during their term:
Divert treasury funds to increase the output probability of the minting machines
Set the cost to use the minting machines
Set the weekly dividend amount for residents
Set the weekly salary or dividend for the mayor (within limits!)
Town residents earn Fake Coin dividends based on the size of their town treasury and the rules defined by the Mayor.
Residents can also do the following on their property.
Mint functional NFT's via the minting machines
Curate their property and use NFT blocks to create a building
Resident's earn XP for every item that they mint. Every once in a while the machines will short circuit and award the player Fake Coins instead of a Faketown item (ie. a block, art, electronics, furniture etc).
Town properties are equipped with a Block Minter by default. By spending Fake Coins residents can yield Building Blocks specific to their town. The fee for minting is determined by the town's Mayor. A percentage of the minting fee goes to the Faketown development team to redistribute while the rest goes to the town treasury.
The town treasury is used to pay the town resident's dividends and the Mayor's salary.
Activities that contribute to a towns treasury include:
Selling new town lots within a town
Used to pay for competitive event rewards, recycled blocks and the occasional Fake Coin bonus payout from the minting machines.
Dividends are paid out weekly and are paid from the town treasury.