Everstone Token ($ES)
The Everstone Token ($ES) is the secondary token within the Evermoon ecosystem. It operates with an unlimited supply and serves as the utility token for various operations, both on-chain and off-chain, within the Evermoon ecosystem.
The $ES token is used for a range of functions within the Evermoon ecosystem:
- Building Challenge Fees: $ES is used as the fee currency for the Building Challenge feature within the game.
- Synthesis Fees: $ES is also used as the fee currency for the Synthesis feature within the game.
- Tournament and Event Fees & Prize Pools: $ES is utilized as the entry fee for tournaments and events within Evermoon. It is also used to fund the prize pools for these tournaments and events.
Earning $ES can be accomplished in a few ways:
- Loot Boxes: These are earned through gameplay ("Play-to-Earn") and are distributed freely ("Free-to-Earn"). Loot boxes will randomly generate rewards for players, including $ES.
- Events, Tournaments, and E-sports Prize Pools: Participating and excelling in these activities can earn players $ES.
- Trading: $ES tokens can be acquired by trading on decentralized exchanges.
Like the $EVM tokens, $ES tokens are also stored in a Treasury or Token Buyback Pool. These tokens are used to support the token price, fund tournaments and events, and burn supply to reduce inflation.
Everstone employs a burning mechanism to maintain the value of the token and provide income for players. If too many $ES tokens flood the market, the token's value may suffer from inflation and devaluation. Therefore, the $ES tokens derived from utility fees and stored in the Treasury are used for burning.
The burning methods for $ES are as follows:
- Building Challenge Fees: A portion of the $ES used as fees in the Building Challenge is burned.
- Synthesis Fees: A portion of the $ES used as fees in the Synthesis feature is burned.
- Tournament and Event Fees: A portion of the $ES used as fees for tournaments and events is also burned.
This burning mechanism serves to decrease the total supply of $ES in circulation, helping to maintain its value and counteract inflation.