An article to understand the economic model of the Move2Earn project GetKicks and how to play it

What is GetKicks?

GetKicks is a Move2Earn project that gets rewards through exercise. Users can earn tokens and NFT rewards by walking or jogging. GetKicks adopts a dual-token model; the tokens are the native/governance token KICKS and the in-game token LACE.

The game modes of GetKicks are divided into five modes: Solo Mode, Club Mode, Tournaments, PvP, and Background Mode, which are suitable for different numbers of players to enhance playability.

Tokens may be earned simply by moving, and LACE can be earned by using Stamina. Each 10 Stamina represents 5 minutes of movement, and the replenishment of Stamina really starts to kick in when a player acquires a Kick via the marketplace. However, it is not necessary within GetKicks to buy a Kick in order to play Solo Mode. For the other modes, the player will need to have at least 1  Kick-off of at least Brick rarity, which can be acquired on the secondary market or via a KickBox.

Once a player creates an account, they will receive a free standard non-tradable Kick. This Kick can only be used to play Solo Mode but will not span any KickBoxes for the player. It can solely be used to earn LACE. Moreover, this free standard Kick will not be counted within the Stamina calculations as shown on the Stamina System page.

A poor GPS/Internet connection or a lack of spontaneous movement is indicated by the app’s “non-walking” feature (i.e. using a motorcycle, tram, or phone with a strap on their pet). non-walkers may lose their Stamina and aren’t able to earn any LACE.

GPS Signal: Grey – Offline; Red – Poor GPS Signal; Green – Good GPS Signal.

Make sure you have enough Stamina before you move; else, you won’t be able to earn any LACE.

The following factors determine the amount of LACE/KICKS earned by the player:

  1. Type of Kick – Determine the base amount of LACE/KICKS and the optimal speed range of the respective Kick in which this base amount can be earned. For more in-depth information please visit the Kicks page.
  2. Kicks’ Drip Score – The higher your Kicks’ Drip Score, the more LACE/KICKS can be earned per minute by using your Stamina.
  3. Kicks’ Comfort Score – The higher your Kicks’ Comfort Score, the cheaper and less time-consuming it is to upgrade your Kicks and its Accessories.

Economic Model of KICKS

KICKS is the governance token for the GetKicks ecosystem. Holders can spend their KICKS to purchase boosts that amplify their LACE earnings, and to increase their chance to win higher rarity Kick NFTs when opening KickBoxes. Holders can stake KICKS and claim their rewards. These rewards include Kick NFT allocations, KickBoxes, and LACE tokens.

KICKS is the exclusive currency used on the GetKicks NFT marketplace.   GetKicks is a community-owned project.KICKS holders and stakers are able to vote on governance proposals that determine the direction of the GetKicks ecosystem. 

KICKS is minted at the token generation event with a max supply of 5.000.000.000:

30% rewards

25% marketing / partnerships / treasury 

20% team 

11% Liquidity / MM 

5% Advisors 

9% sale

The Release of KICKS is as follows:

  • 1,5% of the token supply
  • Price = $0.005
  • 25% TGE, 2 month cliff + 15 months vesting

Strategic Round

  • 2% of the token supply
  • Price = $0.0045
  • 10% TGE, 3 month cliff + 12 months vesting

Private Round

  • 3% of the token supply
  • Price = $0.004
  • 5% TGE, 3 month cliff + 18 months vesting

Economic Model of LACE

LACE is the deflationary game token. Getkicks Ecosystem users can earn LACE by walking, jogging, and running while using the Getkicks mobile application. Holders can use their LACE to repair and maintain their KICK NFT Sneakers, and purchase NFT sneaker accessories!    Staking LACE will provide users with experience boosts that will speed up their level progression.

The Proof of Step Model

LACE is minted at the Token Generation Event (TGE), with a max supply of 500.000.000.000. 30% of the supply is minted into the rewards pool, and the remaining is reserved for the LACE liquidity pool, market-making, and treasury.

The first LACE tokens will enter circulation through Move 2 Earn rewards. Once 2% of the supply has been entered into circulation, a liquidity pool will be created, and LACE becomes liquid.   The Proof of Step (PoStep) model is a groundbreaking economic model that reduces the emission rate of  LACE based on the total number of steps made. In other words, the amount of LACE per step will decrease exponentially as the number of users that enter the game increases. The PoStep model brings incredible advantages to the users of the Getkicks Ecosystem.

  • Ensures the longevity of the Lace Token
  • Early adopters are rewarded for their support
  • Over time, the increased scarcity of LACE will yield attractive rewards for newly joining players.

The PoStep model promotes the scarcity of LACE, and connects heavily to Getkicks’ dual deflationary token model, in which players joining at all points in time are rewarded for their sweat, style, and prolonged support.

Risk Analysis

1. KICKS is the native token of GetKicks, and its selling pressure mainly comes from the unlocking selling pressure of public sales and private placement, as well as the selling pressure of the user’s reward.

2. X2E projects cannot avoid ending a death spiral, so the timing of entry is more important. Usually, users who participate early are less risky than users who participate later. (But only in terms of economic models, this risk is a general case)

This article is from the public information of GetKicks and is for information sharing only. It does not represent the views of MEXC, nor does it constitute any investment advice.

Start your travel on MEXC Global

Share your love to MEXC Global
Default image
Manyi
Articles: 112