Token (WAL/vWAL)
The native token of the Winalot Protocol is WAL. A portion of the total WAL supply is allocated to ecosystem rewards through vWAL, which stands for vested WAL. WAL and vWAL can be staked to earn real yield in the form of LPWAL on any platform built on WAL. vWAL can be converted into WINR through a vesting process. You have the flexibility to adjust your vesting period, which can range from 15 to 180 days. The conversion rate is 1:0.5 for a 15-day vesting period. vWAL placed into the vesting process carries the same weight as WINR in the bribes pool. Alternatively, staking vWAL provides a 2x weight in the bribes pool, encouraging long-term locking of WAL.
Emission Distribution
30% of the supply is allocated to incentives. Any transaction interacting with a WINR game contract will receive vWAL as a reward.
7.5% of the supply is distributed to liquidity providers in the LPWAL index composition.
2.5% of the supply is distributed to the WAL/vWAL staking pool to enhance the initial APR.
Emission Schedule
The amount of vWAL rewarded per transaction is updated every epoch, with each epoch lasting 1 week.
To adapt to changes in transaction volume compared to the previous epoch, vWAL minting is adjusted. If transaction volume increases, minting is slowed down to reduce the need for additional incentives, and vice versa.
A minting multiplier, which ranges from 0.5 to 2 times a probabilistic factor called p, governs the rate at which vWAL is minted.
The minting multiplier itself undergoes halving based on the WAL supply. The following table illustrates when these halvings will occur:
Text
Min
Max
Duration
Beginning
0.5000
2.0000
0-40%
First Halving
0.2500
1.0000
40-70%
Second Halving
0.1250
0.5000
70-90%
Third Halving
0.0625
0.2500
90-100%
Emissions Mechanism
The vWAL multiplier converts the amount involved in a player’s transaction to the amount of vWAL that’s to be minted for that specific transaction. As stated earlier, the multiplier is dynamically updated every epoch based on the change in volume from the previous epoch. This update does not consider the probabilistic factor p but only changes the part that ranges between 0.5 and 2.For the case of an increase in volume, the new multiplier is determined as follows:New vWAL Multiplier=Previous vWAL Multiplier×(1−×% Change in Volume)New vWAL Multiplier=Previous vWAL Multiplier×(1−×% Change in Volume)For each vWAL minted for the players, a fourth of the amount is minted for the LPWAL holders. For example, a total of 100,000 vWAL is minted throughout the day. This means that the LPWAL holders have been rewarded 25,000 vWAL, ready to claim at any given time.Please refer to the Epochs page to learn more about how Epochs work.
Probabilistic Rewarding of vWAL
As previously mentioned, each transaction that interacts with a WAL game contract results in the minting of vWAL tokens for the address associated with the transaction. The quantity of vWAL minted is determined by the product of the vWAL multiplier and a probabilistic factor denoted as "p." The value of "p" is drawn from a mixed Gaussian probability distribution characterized by two peaks. An exaggerated representation of this distribution is depicted below.
The implemented distribution exhibits peaks at 0.6 and 100, with corresponding standard deviations of 0.1 and 10, respectively. This distribution yields a significant number of values that cluster around 100, generating excitement among players who stand to mint a substantially greater amount of vWAL with each transaction. On average, "p" tends to hover around 0.77.
Deflationary Mechanisms
20% of the bribes and 15% of the fees generated are allocated to buyback and burn WAL from the open market weekly.
The conversion between vWAL <-> WAL causes WAL supply to deflate if the user selects a vesting schedule of fewer than 180 days.
A 0.5% burn fee is charged whenever a user unstakes their WAL or vWAL.
Certain NFTs that grant benefits can be purchased by burning WAL. For more information, visit the documentation of platforms built on top of the Winalot Protocol.
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