$GEM Tokenomics
The inflationary yieldfarming reward token and deflationary in-game currency.
Last updated
The inflationary yieldfarming reward token and deflationary in-game currency.
Last updated
$GEM is the reward token within the Clam Island Bank (= yield farm) and as well the in-game currency to buy Clam NFTs and produce Pearl NFTs.
80% of the $GEM used to buy Clam and produce Pearl NFTs is burnt forever and 20% goes to the Clam Island treasury to build and develop the product and ecosystem. This way the ecosystem is designed to combat inflation and at the same time align the team with the platforms long term success and growth.
The amount of $GEM needed to buy a Clam NFT changes from week to week depending on the demand for Clam NFTs in the previous week:
If less than half of the Clam NFTs available for minting in a week were purchased, the price of Clam NFTs goes down, meaning less $GEM is needed to buy a Clam NFT. The same way the price for producing Pearl NFTs goes down.
If more than half of the Clam NFTs available for minting in a week were purchased, the price of Clam NFTs goes up, meaning more $GEM is needed to buy a Clam NFT. The same way the price for producing Pearl NFTs goes up.
$GEM will also be the in-game currency once we onboard third-party-games - read more in the Clam Island Vision section.
