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How MetaRivals Is Going To Implement 1.2% LUNC Tax Burn

Updated: Sep 28, 2022

Since the last couple of hours, we have been getting some amazing queries from the LUNA CLASSIC community regarding how exactly are we going to implement the 1.2% tax burn on our MetaRivals gaming app.

Honestly, we have to give a big round of applause to all the LUNA CLASSIC community members to be so proactive in terms of knowing more about the MetaRivals project and how the whole ecosystem works. So yes, more power to you #LUNCArmy.

How MetaRivals is going to implement the 1.2% Tax Burn?

To truly understand the burning concept on the MetaRivals gaming app, you need to first understand how LUNA Classic is going to be implemented in the MetaRivals metaverse.

The MetaRivals metaverse is a #gamefi P2E project where, unlike other gamefi projects that are building random characters and making them fight, what we are doing is, we are tapping on the dopamine levels of the crypto community and bringing their favorite coins into life. What we mean is that we are making crypto-inspired 3D characters fight against each others in our metaverse.

The Luna Classic 3D Avatar that will be deployed in the MetaRivals game can only be activated by owning the LUNA CLASSIC NFT (which we will be launching on Myria and other Luna Classic NFT marketplaces).

For the sale of every single NFT apart from Luna Classic NFT, we will only be enabling payment via $MRVL tokens (MetaRivals's native token) & other stablecoins.

Now the question is why should one bother using MRVL tokens? Well, you get a 10% discount on NFT purchases.

However, given the way Luna Classic community has been so much passionate about the #LUNC token and the 1.2% tax burn, we have decided that the purchase of Luna Classic NFT on the MetaRivals metaverse will also be via #LUNC tokens. This enables the on-chain transaction of LUNC tokens and hence will contribute to the 1.2% LUNC tax burn.

Also, the fact that we will be minting LUNA Classic NFTs on 'LUNA Classic Blockchain' and the transaction of NFTs moving around in the 'LUNA Classic Blockchain', these will surely be contributing in the 1.2% tax burn.

We will also be enabling #LUNC token payment modes to buy the 3D NFTs of other crypto-inspired characters on the MetaRivals metaverse gaming app. We believe this on-chain transaction will further contribute to the 1.2% tax burn.

Another reason why we are so optimistic about MetaRivals contributing to the 1.2% tax burn is because of what Cryptokitties had done to the Ethereum network way back in the 2017 bull run. Cryptokitties was one of the few early games on the Ethereum network and even though it was a highly basic game, it managed to choke the network because of the traffic it was generating, eventually increasing the gas fees.

luna classic 1.2% metarivals burning

If the LUNA Classic community gets onboarded on our game and the payments are enabled in the LUNC tokens for the NFT purchases and transactions of NFTs, we wonder how much can it further boost the network traffic and eventually lead to the burning process.

Metarivals game expects that its launch will contribute to the growth of the on-chain active gaming userbase that will further burn more LUNC tokens. While all NFTs and gaming assets in the MetaRivals metaverse will be on-chain, we expect millions of players soon within 1 year of the launch and thus the trading and transfer of these assets on-chain will contribute to high volume.

Since one of the gaming modes in the Metarivals metaverse also includes battles between non-crypto avatars, we expect the general gaming community (which happens to be in millions) to also hop in the game for which they will have to use our dApp, wallet, DEXs, and then withdraw rewards along with other blockchain-related activities right from MetaRivals app. We will be implementing a smooth UI interface for the general audience to understand more about P2E and dApp operation which will make it easy for them to use on-chain applications within a single click via our app.

The game will also allow 1 vs 1 challenge battles where all the players can fight using LUNC and the winner takes all. The collection and distribution of the prize will contribute to the burning of LUNC tokens

More info on Terra Luna Classic 3D NFT Minting

Currently, the entire team is in a discussion mode on how to perfectly and swiftly execute this NFT sale as we expect a lot of scammers to disturb the INO sale on the Myria website. We have already shown the sample to our designers and they are coming up with a few drafts. Eventually, by the end of this week, we will have the final designs ready and the work on them will get started.

We are planning to launch the Terra Classic 3D Character (LUNC) INO by the end of October 2022 on the Myria platform.

To get more updates on the launch of LUNA Classic 3D Characters, kindly join our social media channel below.

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