We are excited to introduce our new platform token, $OL, designed to fuel Open Loot's next growth stage. This token will offer new benefits to our loyal users and create opportunities for further expansion. By enhancing marketplace activity, increasing user acquisition, and boosting engagement across all Open Loot games and products, we aim to elevate the overall Open Loot experience.
The $OL token is designed to capture value from the platform by offering exclusive benefits to Open Loot users. Whether you're seeking better deals on the Open Loot marketplace or aiming to collect additional rewards while playing your favorite games, $OL delivers substantial utility.
There are numerous avenues to spend and sink the $OL token within the Open Loot ecosystem.
Paying in $OL: Players can use the token as a payment option when purchasing from the Marketplace, purchasing Premium Currency such as Time Crystals, or buying NFTs from Primary sales. Users will also receive a discount when paying with $OL corresponding to their VIP tier.
Special Premium Currency Packs: Open Loot games occasionally offer special premium currency packs, which can be purchased exclusively with $OL. These packs are provided at a special discount relative to regular premium packs.
NFT Primary Sales: When purchasing NFTs during primary sales, using $OL may qualify you for special discounts or grant exclusive access to certain sales only available to VIP users. This provides a unique advantage in acquiring new and desirable NFTs.
can be converted directly into $OL tokens. Players will be able to collect Open Loot Reward Points in several ways, including:
In-Game Drops: Participating in Open Loot games will have special events that reward in-game activity with Open Loot Reward Points drops.
Marketplace Sales: When selling on the marketplace, sellers can receive $OL or USD payments.
We plan to continue adding new ways to collect Open Loot Reward Points. Please check back for updates.
Open Loot VIP tiers grant users special account privileges and provide access to various benefits, including reduced transaction costs, special airdrops, exclusive access to features, and more. A user's Open Loot VIP tier will be based on their Open Loot Marketplace activity and $OL holdings.
While the primary benefit of the Open Loot VIP tiers is to unlock more significant discounts on transactions, other benefits may also include:
Access to limited-time premium currency packs.
Access to Special Airdrops.
Amount of votes allocated for feature voting and community participation.
Access to exclusive NFT primary sales, including higher limits on the number of NFTs users can purchase. These exclusive sales provide a unique advantage in acquiring new and desirable NFTs.
For more information, .
The Open Loot ecosystem stands to gain significantly from the $OL token in terms of how the token can be used to drive engagement. Below are examples of how it can be utilized to propel the platform to new heights:
Besides the inherent boost in marketplace activity driven by the newly introduced Open Loot VIP tiers—which use marketplace transaction values to determine tier status—$OL is an incentive to be paid out to engaged users. One example of a program we plan to roll out:
$OL TGE Airdrop: This unique initiative rewards Open Loot users with Open LooT Reward Points based on their activity in Big Time and on the Open Loot Marketplace.
$OL can also help game developers with user acquisition, which is paramount for newly launched games. The token will reward players for their in-game activity via Open Loot Reward Points airdrops upon reaching certain milestones or dropping tokens in-game.
We plan to utilize this feature through limited-time events that attract users to Open Loot partner games and create exposure for the game and the ecosystem.
While boosting marketplace activity and user acquisition are currently the primary sources of value that Open Loot gains from its native token, the possibilities for leveraging this token in other areas are endless. The $OL token holds vast potential to redefine engagement and innovation across our platform.
The $OL token features described in this wiki are in active development. Details are subject to change.
Spending In-Game: Partner games may enable the ability to spend tokens to access content or acquire items.
Other in-game benefits include access to areas that can only be accessed with a high enough VIP Tier and unlocking special Hourglass Slots in Big Time, a highly sought-after feature.
Open Loot Token - $OL
The $OL token is the primary cryptocurrency for the Open Loot platform. It allows users to purchase items on the Open Loot Marketplace. It is a fungible ERC-20 token created on the Ethereum blockchain, with a capped supply of 5 billion tokens. You can see a more comprehensive list of the $OL token benefits under Token Utility.
Token Distribution
$OL is launching with a fair distribution model, ensuring that no tokens are allocated to Open Loot Team members or investors, embodying a truly community-driven approach.
The $OL supply is divided amongst the programs below, based on the fully divested token quantity.
The 5 billion $OL tokens will be distributed in the following categories:
User Rewards (50%): User rewards and game studio events.
Marketing & Community (20%): Marketing and community events, including the programs where users earn OLRP prior to the $OL token launch.
Treasury & Ecosystem (30%): Ecosystem growth, liquidity, and treasury provision.
Vesting Schedule
The maximum supply of 5,000,000,000 $OL tokens will be unlocked continuously according to user rewards, marketing events, and partner grants. For graphical convenience, the vesting schedule chart below shows the number of tokens unlocked monthly.
Open Loot VIP tiers provide users with exclusive privileges, including reduced transaction costs, special airdrops, unique features, and more. VIP tier access is determined by two main factors:
30-Day Open Loot Activity Score: This score is calculated as a weighted sum of all marketplace activities over the past 30 days. Activity weights vary depending on the type. Purchases made using $OL on the Open Loot marketplace contribute 30% more efficiently to the activity score.
30-Day Average $OL Balance: This balance is calculated by recording the minimum $OL balance in each user's account daily, then averaging these daily minimums over a 30-day period.
These values determine the appropriate VIP tier for each Open Loot account. The VIP tier will correspond to the lower tier of the two factors mentioned above. Please see the table below for detailed information on each tier:
Transaction Discount: This discount percentage applies to USD-value of purchases made on the Marketplace. The discount only applies if the user pays with $OL.
Note: VIP Activity Score and $OL Balance calculations are based on data from the previous day and reflect activity over the prior 30 days. If a user completes a transaction today that qualifies them for a higher tier, the discount for that higher tier will apply to transactions starting tomorrow.
While the primary benefit of the Open Loot VIP tiers is discounted transactions, additional tier-dependent benefits include:
Discounted rates on limited-time premium currency packs
Access to special airdrops
Increased voting power for feature voting and community decisions
Access to exclusive NFT primary sales, with purchase limits on the number of NFTs per user
These values determine the appropriate VIP tier for each Open Loot account. The VIP tier will correspond to the lower tier of the two factors mentioned above. Please see the table below for detailed information on each tier:
Exalted
???
50,000
1.60%
Mythic
???
25,000
1.40%
Legendary
150,000
15,000
1.20%
Epic
90,000
12,000
1.00%
Rare
50,000
8,000
0.85%
Uncommon
30,000
5,000
0.70%
Common
15,000
3,000
0.60%
No VIP
0
0
0.50%
Special in-game perks, such as an extra Hourglass Slot in Big Time, a highly desirable feature
Open Loot VIP Tier
30-Day Average $OL
30-Day Activity Score
Discount
Unique
???
10,000,000
2.50%
Transcendent
???
250,000
2.00%
Exotic
???
100,000
1.80%
