Vulcan Forged is a game studio dedicated to NFT games built on Ethereum, Polygon, and recently expanded to BSC. Amongst its series of games on the platform, VulcanVerse and Berserk are the 2 main games of the project. PYR is its native utility token, which allows users to purchase NFTs from the in-game marketplace, participate in staking and pay for scholar registration fees.
PYR is the native utility token of the Vulcan Forged ecosystem and has the following use cases:
- Buying and selling NFTs: Users can buy and sell NFTs and in-game items using PYR in the Vulcan Forged Marketplace.
- Staking: Users can stake PYR to upgrade their in-game Land NFTs, which will increase the yield of staking rewards (paid in LAVA tokens).
- Liquidity mining: Users can contribute to the liquidity pools on the VulcanDEX to earn liquidity rewards and a share of the DEX transaction fees.
- Scholar registration fee: In order for users to rent NFTs as a scholar, they are required to use PYR to pay for the scholar registration fee.
Vulcan Forged consists of the following major components working in conjunction:
- LAVA Tokens: It is the secondary token within the Vulcan Forged ecosystem, and has the following use cases:
- Play-to-earn: Users earn LAVA by staking PYR and playing Vulcan Forged games.
- In-game currency: Users will need LAVA to pay for in-game transactions (i.e. upgrading NFTs, building on land plots).
- VulcanDEX: Users can provide liquidity, stake, and swap LAVA tokens for PYR through the platform’s DEX.
- Vulcan Market: Users can buy and sell NFTs on the Vulcan Forged marketplace.
- In-game NFTs: Within the Vulcan Forged ecosystem there are several types of NFT types, which include Lands, Vulcanities, Seeds, Gods etc.
As at November 26th 2021, the total and maximum supply of PYR is 50,000,000 and the current circulating supply is 18,997,700 (~38.00% of the total token supply).
Learn more about the token distribution here.