This is the Glizzy Royale V1 Whitepaper. All features covered in this whitepaper are our current plans and are subject to change. Some features are still in development and may not be available upon release. Any questions regarding this whitepaper can be directed to our development team within our Discord.
This Whitepaper does not provide any investment or financial advice and its sole purpose is to outline our project plans. Information provided is for educational and illustrative purposes only. Always do your own research.
What is Glizzy Royale?
Glizzy Royale is an ambitious and groundbreaking Solana gaming project with one major goal in mind: to make blockchain gaming fun. Our game is a third-person shooter that will be releasing a Battle Royale in the near future. Our genesis NFT collection will contain 4000 unique Glizzies which have been genetically modified to become super soldiers. The holders of this genesis collection will have the opportunity to earn our native utility token, $GLIZZY, through staking. Until the Battle Royale is released, our genesis holders will be issued virtually 100% of new $GLIZZY released into circulation.
We believe that achieving our goal (of making a fun blockchain game) involves four core tenets: an engaging and smooth game, incredible art, a large network of users, and a robust token economy. In this whitepaper, we will largely be focusing on our $GLIZZY token economy. We will explain how our token economy will function pre-battle royale and then provide a look into the future.
While we have a variety of resources that explain our vision for the game (here), we believe it is important to address our roadmap at a high level to establish context for readers who are reading our token whitepaper without having read anything else.
First, we are releasing the Arena version of our game, Season 0. The goal of Season 0 is to get a fun game mode off the ground early, a proof of concept for our gamers (and our token). This is already available to play, as a web2 game (we call this Season 0), on our website (gloriousglizzys.io). The Season 1 & 2 versions of the game are simple and elegant but will gain another dimension of excitement after our blockchain integration with the game (about 1 month after the Genesis Mint). The web3 version of our game will support two exciting game modes:
- 1 v 1 Wager Matches: Players can wager our native token, $GLIZZY, and face off in a 1v1 matchup to take the pot!
- 1 v 1 Tournaments: Multiple times a day, players can wager $GLIZZY to enter into a tournament (and win prizes paid in $SOL). These tournaments will be single elimination.
Additionally, throughout Seasons 1 & 2, we will be minting new weapons which can be used in both wager matches and tournaments. New weapons will be minted in $GLIZZY but can be sold on secondary markets for $SOL.
Next, we are releasing our Battle Royale. Make no mistake, this is still in development and is between 12–18 months from completion, but this new game mode will launch with a 24 person Battle Royale and many P2E activities in game. We won’t dive too deeply into the tokenomics of this phase (since a lot of this is still being worked on). However, we want our readers to know that our Arena Mode tokenomics are crafted to be gracefully extensible to new game modes introduced in Battle Royale.
Total Token Supply
- 85% (34mm $GLIZZY) — Treasury, To be released over a 5+ year P2E emission schedule beginning with the launch of our flagship Battle Royale
- 5% (2mm $GLIZZY) — Liquidity Pool / Reserves
- 5% (2mm $GLIZZY) — Team Compensation
- 5% (2mm $GLIZZY) — Genesis Holder Staking Rewards
We have carefully architected our token supply to start small and grow naturally with our game’s user base over time. The Glizzy Royale Team, compensated largely in $GLIZZY, will be establishing the P2E incentives for the Battle Royale mode. Giving the team and stakers the same total amount of token allocation aligns the interests of the Glizzy Royale Team with the stakers of our genesis collection. The team will not be permitted to sell any of their $GLIZZY compensation until at least 1 year after Battle Royale is released. This gives the team two incentives:
- To keep the price of $GLIZZY at a reasonably low price, to attract new gamers and nurture long term growth for our game ecosystem
- To avoid, at all costs, over-inflating the supply of $GLIZZY. This will kill the token price, and ultimately, our gaming ecosystem.
Having 85% of our token supply set aside for game emissions should not worry our genesis holders (or team) about dilution, but it should enthrall them. This is an ecosystem that will grow for years and decades to come. The Arena Mode is just the beginning.
Staking, at a glance
Staking will be available one week post-mint for all of our genesis holders. Our holders will be paid out on a daily basis for as long as they choose to stake their newly minted NFT. The total amount of $GLIZZY tokens set aside for staking rewards will be 2mm, which is of the 5% of the total supply.
Nearly 100% of new tokens released into circulation before the Battle Royale is live will be handed to stakers (with the exception of providing liquidity to markets, which we will discuss later). Any gamers that want to get involved in Seasons 1 & 2 of Glizzy Royale will need to purchase $GLIZZY on a DEX that is being sold by a staker.
Staking rewards will be determined by the rarity of the genesis NFT that is being staked. We have four different rarities that are listed as “attributes” in the metadata of each NFT. They are: Uncommon, Rare, Super Rare, Mythic Rare, Fusion Rare.
The staking reward “Rarity” multiplier is as follows:
- Uncommon: 1x
- Rare: 2.5x
- Super Rare: 2.75x
- Mythic Rare: 3x
- Fusion Rare: 3.25x
For example: this means that if somebody staking an uncommon NFT is earning 1 $GLIZZY per day, somebody staking a Mythic Rare NFT is earning 3 $GLIZZY per day.
We plan on issuing a total 2mm $GLIZZY to stakers. How can we keep our total staking rewards below 2mm $GLIZZY in perpetuity? The answer is through halving. Halving, in our ecosystem, is the practice of reducing the rewards for staking by 50% at the end of a predetermined cycle. You may have heard about Bitcoin Halving Cycles. This is the same basic concept.
Our halving cycle is measured temporally as: The amount of time that it takes to award half of the remaining tokens left in the staking pool, starting at the end of the last halving cycle.
In practice, the staking rewards will be reduced by 50% once the first 1mm $GLIZZY tokens are awarded to stakers (half of the 2mm staking supply). The rewards will halve once again after the next 500,000 $GLIZZY is awarded (half of the remaining 1mm staking supply after the first halving cycle). The rewards will halve again after the next 250k $GLIZZY are awarded. This cycle will continue in perpetuity.
As you can see, there is a clear incentive to stake early. The absolute rewards decrease over time, and that’s okay!
$GLIZZY Use Cases (for Arena Mode)
For the purposes of this Whitepaper, we will be solely focused on Arena Mode (pre-Battle Royale) use cases. As Battle Royale becomes more developed. We will eagerly update this Whitepaper to inform our stakeholders with our plans. For now, there are three major use cases for the $GLIZZY token:
- 1v1 Wagering
- 1v1 Tournaments
- NFT Weapon Mints
Our burn rate is subject to change. The goal will be to keep the burn rate strong enough to act as a deflationary force for our token while also not materially diminishing the incentive to participate in a wager match.
1v1 Tournaments will have a more complicated (and much more exciting) set of incentives. At its most basic level, we will be hosting tournaments with a $GLIZZY entry fee. These tournaments will consist of 1v1 matchups and each match will be single elimination. The winner of the tournament will receive a prize, paid in $SOL.
While prizes are paid out in $SOL, 100% of $GLIZZY committed as entry fees to tournaments will be burned. Our goal is to eventually move to a model where prizes are paid out in $GLIZZY. We will only make this transition after our token shows clear signs of sustained fundamental strength.
In order to reduce the $GLIZZY risk to each player for simply entering a tournament, our team has decided to stagger the entry fees by round. Instead of having to risk the full entry fee in the first round, you will risk only part of it. Only by advancing to the finals are you risking the full entry amount. The higher your odds are of winning the full prize, the more $GLIZZY you will have to risk. However, if you lose in the first round, your downside is forgivingly capped.
For example, for an 8 person tournament, all players will enter round one by paying 1 $GLIZZY. The next round, the semi-finals, costs 0.5 $GLIZZY to enter. If you make it to the finals, you will have to risk an additional 0.25 $GLIZZY.
The four major variables for these tournaments are:
1. Tournament Frequency
2. Number of Entrants Permitted in Each Tournament
3. Entry Fees
4. Winning Prize
We expect these variables will be changing periodically to accommodate the best interests of our token economy.
NFT Weapon Mints:
NFT weapons will be required to play the web3 version of our game. The NFT weapon that you load into the game will define the unique accuracy, mobility, range, stopping power, and recoil characteristics of the gun that you use in game. These weapons will be minted using $GLIZZY but can be sold on secondary markets for $SOL.
Our first weapons mint will feature three entry-level weapons with a low $GLIZZY mint price so that we can easily arm our genesis holders. Simply put, there will be very little barrier to entry for playing our web3 game if you minted our genesis NFT.
Looking past our first weapon mint, we will be minting new weapons for two reasons:
- Providing more entry-level weapons to allow for new entrants into our web3 game ecosystem. People interested in our game can purchase $GLIZZY from a DEX, mint a new weapon, and begin playing!
- Providing premium weapons, with superior characteristics (and a premium price) to our standard weapons, for those who want to pay for modest in-game advantages
Regarding Scenario #1, the team will be monitoring the floor price of existing standard weapons and the price of $GLIZZY before making the determination that new weapons need to be minted to allow for new users. This will permit the long term growth of our existing ecosystem. You should expect the growth in outstanding entry-level weapons to match exactly with the growth of new users in our web3 game ecosystem.
Regarding Scenario #2, our team’s #1 goal is to ensure fairness inside of our gaming community. We are very aware that our “premium” weapons should not provide too large of an advantage over entry-level weapons. At the same time, we want to deliver value to those who choose to mint a premium weapon. This is a tight rope that we are ready to walk.