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Pixels, a popular online game that uses cryptocurrency on the Ronin network. They will be introducing their own token. They're kicking things off with a promotion on Binance Launchpool, where players can earn rewards in tokens just for participating. PIXEL is like the money you use in a special online game called Pixels. In this game, you can do lots of fun things like farming, exploring, and creating stuff.
The PIXEL token is the special money used in this game. You can use PIXEL tokens to buy things like cool items or special passes that give you extra benefits in the game.
You can also use PIXEL tokens to join groups called Guilds, where you can hang out with other players and do things together.
In the future, PIXEL tokens might also be used for making decisions about how the game is run and managing a shared fund for the game community.
Also Read: Ronin (RON) Coin Analysis, Price, Market-cap and Future Predictions
Binance Unveils PIXEL Staking Rewards:
Binance will introduce the PIXEL token through its Launchpool promotion. This means Binance users can earn PIXEL tokens by staking either Binance's BNB or the FDUSD stablecoin in special pools. During the promotion, a total of 350 million PIXEL tokens will be available, which is about 7% of all PIXEL tokens.
The Launchpool promotion starts on February 9 and runs for 10 days. After that, on February 19, Binance will officially list the PIXEL token on its exchange. That's when people can start trading the PIXEL token.
It is not certain if Pixels will give PIXEL tokens to players who won in the game's play-to-airdrop events. Around 28,000 wallets might qualify for the PIXEL airdrop from in-game reward programs. Decrypt's GG asked a Ronin representative about when the airdrop will happen, but they have not gotten a response yet.
Tokenomics:
Think of tokenomics like a seesaw between supply and demand. On one side, you have the supply of the token, which is like how many tokens are available. On the other side, you have demand, which is how much people want those tokens.
When the supply is low and the demand is high, the token's value goes up. But if the supply increases too much or demand drops, the value can go down.
To control this, whoever's in charge of the token can adjust the supply. They might make more tokens (increasing supply) or take some out of circulation (reducing supply).
This balance between how many tokens are out there and how much people want them helps determine the token's value.
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