thecoinrepublic.com
- GameFi team has announced that the launchpad ranking system and policy for IGOs is in preparation
- The official announcement includes that the latest policies took place from September 16, 15:00 UTC
- The ranking system consists of four entry levels, Rookie, Elite, Pro, and Legend
- Kaby Arena is currently the most popular among the two GameFi projects
GameFi is a decentralized gaming finance platform. The project noted that Initial Game Offerings (IGO) is trending in the cryptosphere. On Sunday, the team behind the gaming finance platform announced that its launchpad ranking system and policy are under construction. The announcement also cited that the system will comprise of four ranks entitled Rookie, Elite, Pro, and Legend. The ranking system divided into four tiers is getting prepared for GameFi’s upcoming initial game offerings. Indeed, these offerings use Non-Fungible Tokens (NFTs) as their in-game currency.
GameFi has four tiers with bolstering reward levels
GameFi has four different tiers for platforms using the Launchpad. According to the announcement, the main goal of the platform is to roll out new games and projects. Indeed, those projects will be for investors who are willing early access to IGOs. Notably, IGOs have evolved from ICOs and then IDOs that offer early access to gaming projects.
The latest announcement also cited that the ranking system involves Rookie, Elite, Pro, and Legend. Users of the platform can obtain early access to these levels by simply staking increasing amounts of the protocol’s native token, GAFI. Notably, it is also underscored that the ecosystem ranking system and policy takes effect from 15:00 UTC on September 16th.
Why the decentralized platform introduces a ranking system
We have observed that the initial game offering industry is one of the pioneers’ sectors in the cryptosphere. In such a part of the industry, early investors are allowed to access newly launched game tokens. Indeed, with which tokens, the users can anticipate price surges. Notably, the GameFi ecosystem includes a Yield Guilds, a Launchpad, an Aggregator, a Marketplace, and an Accelerator for new play-to-earn projects.
Moreover, the protocol has created a ranking system to extend more significant stimuli. Such stimulants will be injected into those who stake more. Simultaneously, the entry-level “Rookie” rank just requires a 20 GAFI stake which is worth approximately $783 at press time.
On The other hand, the additional two levels require 100 and 500 GAFI stakes. In contrast, the ultimate rank has only 12 available slots. These slots require one of GameFi’s Legendary Non-Fungible Tokens to take part in.
Kaby Arena is the most popular GameFi’s project
Notably, the GameFi protocol is based on the Binance Smart Chain. In the current scenario, the protocol provides merely two projects. Among the projects Kaby Arena is the most popular, with a daily volume of $8 million for KABY.
It is also noteworthy that the GameFi protocol held its first IDO for the GAFI token on three different launchpads. Such launchpads include RedKite, DAO Maker, and GameFi on September 10th. Indeed, the platform itself was established by Polygon and Icetea Labs in August 2021.