PlayFi Token
$PLAY is an upcoming utility token releasing via airdrops later in 2024.
The $PLAY token is core to the PlayFi Protocol acting to power PlayChain and secure PlayBase.
The $PLAY token serves the following functions in the PlayFi ecosystem:
Secures the data layer through modular nodes running Proof-of-Stake consensus
The native gas token of PlayChain
The medium of exchange token for dApps operating on PlayChain
Underpins the economic loop of PlayBase
$PLAY flows from PlayChain users to node operators via the following mechanism:
Users pay $PLAY fees to dApp creators when interacting with a dApp
dApps pay $PLAY to Oracles to access data
Oracles pay $PLAY to nodes to access data
Staking $PLAY
Those operating a node will be able to stake $PLAY against their node to earn rewards.
Holders of $PLAY that don't operate a node will be able to select an exisiting node operator to stake with for a fee.
Those staking $PLAY will receive rewards in esPLAY which can be burnt for $PLAY with faster unlocks receiving less $PLAY.
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