🔥Participation Token
Learn about Checkmate's Participation Token. Discover how to earn, use, and benefit from this ecosystem element in our online chess platform.
Last updated
Learn about Checkmate's Participation Token. Discover how to earn, use, and benefit from this ecosystem element in our online chess platform.
Last updated
Checkmate plans to introduce a Participation Token as a key ecosystem element. This document provides a clear and factual overview of the token and its utility. The objective of the token is to reward players and viewers for their participation and attention.
To remove any doubt, Checkmate has no plans to introduce crypto-based tokens in its game economy. Instead, the token release t is based on separate features we are rolling out. Before the rollout of this feature, our priority is to optimise the platform during the Alpha phase based on community feedback.
Alpha Avatar holders will periodically receive airdrops of the token as a reward for their early support. Airdrop allocation will be based on each holder's class and proportion of avatars.
The Token will be a utility token and will serve the following functions:
Players and viewers can earn the token for their attention and participation.
Creators get paid for making great content.
Advertisers and sponsors can directly reward players and viewers.
Advertisers will be able to purchase the token to undertake promotional campaigns. These campaigns will run across Checkmate's digital platform and broadcasts.
Redeeming it in a drop.
Engaging with advertisers' and sponsors' content.
Watching broadcasts on Checkmate.
Watching broadcasts on partner platforms
Creating user-generated content (UGC)
Running pay-to-watch private streams on Checkmate.
Being tipped by players.
Being sponsored by the community.
Participating in tournaments.
Coaching players.
Winning tournaments.
Winning competitions or giveaways.
Being rewarded for loyalty.
Redeeming items in the store
Redeeming partner offers
Redeeming items on partner websites or loyalty programmes
Exchanging the token for other utility tokens.
In the Checkmate ecosystem, Alpha Avatars are categorized based on chess piece hierarchy, each with specific weightings. These weightings determine drop allocations, be it credits, collectibles, or tokens like the Participation Token. The chosen Alpha Pack class influences the Avatar class, and weightings dictate distribution. For instance, the King and Queen, with the highest chess hierarchy, receive six times the allocation compared to a Pawn.
Q2 2024: Whitepaper
Q3 2024: Token Listing
We are currency finalising our tokenomics and token sale method. We aim to create a healthy, legal, and sustainable ecosystem that benefits all participants. Before offering the token, we want to ensure the core player experience is optimize and eco-system partners are in place..
The Alpha drop allocation will be within industry norms.
Checkmate is a registered entity at Abu Dhabi Global Market (ADGM), United Arab Emirates. Prior to the launch of the token, a whitepaper will be made available. The token will be issued as a utility token and will not act as a security in any form.
This document serves as an overview of our plans and may undergo revisions. Specific details on tokenomics and the token sale will be communicated officially. Community input will be encouraged and welcomed before the publication of the final paper.
Stay tuned for updates.
