The Dynamic Heartbeat of the Vulcan Forged Ecosystem
This section of the whitepaper delves into the intricate world of LAVA, the secondary token of the Vulcan Forged ecosystem. As the lifeblood that courses through the veins of Vulcan Forged, LAVA powers transactions, gameplay, and rewards, fostering a thriving decentralized environment. This section provides an in-depth exploration of LAVA's evolution, utility, and its role in driving innovation within the ecosystem, showcasing its multifaceted utility and the transformation it has undergone.
Originally introduced as a Polygon token with uncapped supply, LAVA emerged as a means to facilitate transactions and reward participation within Vulcan Forged ecosystem games. However, this year marked a pivotal shift as Vulcan Forged transitioned to its own layer 1 blockchain, Elysium. A snapshot of user ‘My Forge’ wallets, Vulcan Forged’s own UI linked to Venly wallets, led to the airdrop of Elysium LAVA, effectively rendering the previous Polygon LAVA obsolete. Users could access their new Elysium LAVA by exporting their Venly wallet, importing to MetaMask and adding the Elysium network details.
The total supply of Elysium LAVA is now capped at 1 billion tokens, offering a more streamlined and sustainable approach.
Vulcan Forged games currently reward players with Cold LAVA, otherwise known as 'LAVA Crystals'. This Cold LAVA is earned through XP accumulation in many Vulcan Forged ecosystem games. Cold LAVA serves as an off-chain value that can be converted to on-chain Hot LAVA in My Forge. This transformation empowers users to engage in Elysium Swap, Vulcan Forged's decentralized exchange, and subsequently convert their on-chain LAVA into tokens that can be exchanged for fiat currency if desired.
The Vulcan Forged ecosystem's commitment to decentralization is exemplified through the newly launched Agora marketplace. In contrast to the Vulcan Forged’s traditional marketplace, where transactions involved use of a market wallet and an escrow wallet due to legacy systems, Agora conducts all transactions using PYR directly from a user’s MetaMask wallet, with LAVA used as the gas fee. The utilization of off-chain values such as market PYR allowed for instantaneous marketplace bids prior to transition to Elysium blockchain, where the previous wallet system was not fast enough for quick fire bidding - an off-chain value such as market PYR allowed for this. LAVA’s off-chain value, Cold LAVA, was initially introduced as a safeguard against potential exploits, providing a 3-day 'warm-up' period before converting to Hot LAVA was enabled. This approach facilitated the detection and correction of any anomalies.
Earning LAVA is a testament to active participation within Vulcan Forged games. Players accumulate XP, reaching a milestone of 10,000 XP to attain 'Level 2 avatar' status. This achievement enables the conversion of Cold LAVA to Hot LAVA, ensuring that users contribute substantively to the ecosystem before they are able to cash out.
LAVA's role extends beyond gameplay. The LAVA Appreciation program enables users to stake PYR, generating LAVA through a tiered system represented by gems. The more PYR held, the greater the gem tier and daily LAVA generation, enhancing user engagement and incentivizing long-term involvement.
LAVA's utility within the Vulcan Forged ecosystem is vast and growing, encompassing:
- Upgrading Land in VulcanVerse
- Purchasing In-Game Consumables
- Activating NFT Seeds
- Unlocking Game Features Across Different Titles
- Staking in ElysiumSwap (Vulcan Forged’s decentralized exchange)
- Acquiring In-Game Assets
- Upgrading Titans and Olympians
- Participating in Tournaments
- Ecosystem Fees and Daily Pools:
- LAVA's role extends to ecosystem fees, including seed activation, land upgrades, and Titan/Olympian maintenance.
Additionally, every LAVA expenditure route results in a 100% burn, reinforcing its scarcity.
Each enabled Vulcan Forged game features daily LAVA pools, rewarding players based on their earnings. The forthcoming introduction of the Frenzy Pass, a pass to allow access to larger LAVA pools as part of a circular economy, partitions LAVA earnings between the Frenzy LAVA pool and a small non-Frenzy pool. This strategic design encourages players to maximize earnings via the Frenzy pass.
LAVA has huge significance to the Elysium blockchain, where it serves as the native token and gas for transactions, powering the entire network.
The LAVA Bank, established within Vulcan City, VulcanVerse in 2022, offers owners of LAVA Ledger NFTs the opportunity to stake LAVA and earn APY through various plans. This initiative lays the groundwork for a burgeoning DeFi district within VulcanVerse, cementing the marriage of gaming and finance.
The trajectory of LAVA within the Vulcan Forged ecosystem is marked by ongoing innovation and expansion, with many potential future use-cases, products, and features under consideration at the present time.
LAVA's evolution from a Polygon token to Elysium LAVA has marked a transformative step forward for the Vulcan Forged ecosystem. This comprehensive section sheds light on LAVA's role as a versatile and dynamic token, a medium for transactions, gameplay enhancement, and decentralization. As Vulcan Forged continues to innovate, LAVA remains at the forefront, shaping a dynamic and thriving blockchain gaming world, empowering users to engage, earn, and contribute, paving the way for a thriving blockchain gaming future.
Disclaimer: The information presented in this whitepaper section is accurate as of the time of writing and may be subject to changes as the Vulcan Forged ecosystem continues to evolve.