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What is $MELT?

1. USECASE

MetaElfLand Token ($MELT) is an important part of the MetaElfLand, as it is designed as a catalyst for transmission, accelerating the maturation of the entire ecosystem. As an asset, $MELT can be transferred and traded as the basis for trading in MetaElfLand, and has the following use cases:
Purchase item in MetaElfLand: Players spend $MELTs to play the game, purchase MetaElves, lands, items, or customize their avatar characters. Players can also earn $MELT.
Reproduction and Evolution: Reproduction and evolution of MetaElves cost $MELTs and some BNCs, depending on the Breeding Generation. The $MELTs and BNCs expenditures are vary and will be adjusted according to factors such as the economic forecasting model.
Governance: $MELT is a governance token that allows holders to participate in the decision-making of the community by using a DAO structure. They can exercise voting rights on key elements, such as the content granted by the Fund, the affiliation of game creators, and the prioritization of features on the development roadmap.
Staking: Staking of $MELT allows the pledger to receive $MELT as a reward for increasing the liquidity of the MetaElfLand economic system, and that makes staking as a passive income.

2. DEFLATIONARY MODEL

As the in-game currency, we have built an economy cycle for $MELT that presents a deflationary model:
Fees: The transaction fees incurred by all transactions in the MetaElfLand will be allocated as follows: 25% are automatically converted into $MELTs and burnt, 37.5% are for the system maintenance, and the other 37.5% are put into the DeFi mining pool to increase liquidity and allocated to the "Ecological Fund".
Ecological Fund: The role of the Fund is to support the ecosystem of MetaElfLand by providing grants to high-quality content creator from the community. The overall valuation of MetaElfLand can grow through the increase in the valuation of all community content creations funded by the Fund, thus it creates a virtuous circle that can be used to serve more Community Creators through funding.
Buyback Strategy: Part of the TMT revenue will be used to repurchase tokens from the secondary market, and tokens will then be burnt. The project team will continue to carry out scheduled repurchase and the burning work according to the actual situation. The continuous repurchase and burning strategy will have a very positive effect on the entire game ecosystem. It can strengthen consensus, and makes the community healthier and more vibrant.
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1. USECASE
2. DEFLATIONARY MODEL