Ether Kingdoms (IMP Token): Proof of Stake Crypto Mining Game?
Due to the growth of the cryptocurrency market and distributed ledger technology, it’s no surprise that there is now an abundance of games built on these platforms. Games like Cryptokitties have become a staple of Ethereum, bringing in new users to play, trade, and invest in this new gaming trend.
What Is Ether Kingdoms?
One of the newest games to be released on Ethereum is Ether Kingdoms, otherwise known as Imps. Ether Kingdoms is one of the first cryptocurrency games that features its own proof-of-stake token, named the IMP token. The game’s main point of difference between other games is that its internal ERC20 token can be traded on any cryptocurrency exchange, which extends the options available for investors.
And like any other proof-of-stake coin, investors can make a passive income by mining IMP tokens through the in-game mines. The maximum proof-of-stake reward is 1% per day, with additional prizes on offer by battling one’s creatures.
How Ether Kingdoms Proof of Stake Crypto Mining Game Works
The gameplay of Ether Kingdoms is centered on two simple mechanics: mining and battling other players to improve one’s mining rate.
Inside the game, the is set in hex maps with two main gaming areas, namely the castle and the mine – there’s also a castle that is featured in game that presently does not function, although in upcoming updates it will play an important role in the ecosystem.
The mines in the maps are used to mine IMP tokens, and each token has a value of one IMP, which is used to fight other players and mine the platform’s currency. Imps are the only way to battle and mine more tokens at present, so as long as you have IMPs working for you, you can earn a passive income simply by playing the game with a cohesive strategy.
Fighting In Ether Kingdoms
Battling other players for resources and mining power is one of the key game mechanics of Ether Kingdoms. To send your imps in battle, you select the Fight tab from the user interface and then designate how many imps you’d like to send to battle. Once your imps have been selected, you must wait for an opponent to accept your challenge.
In the MVP version of Ether Kingdoms, the fight is automatic and does not require your active involvement. At the conclusion of the battle, the loser forfeits a portion of their imps, while the winner receives the loser’s imps into their mining and fighting pool. The platform then takes a 10% cut of imps for each player to be used for ecosystem development.
The winner of the battle is selected at random, with each opponent having a 50% chance of winning. This mechanic, however, will be changed so that players can have a more active involvement over the outcome of their battles, meaning that they will be based on strategy and skill rather than a coin toss.
Ether Kingdoms IMP Tokens
The IMP token is ERC20 compliant, meaning that the tokens are compatible with Ethereum-based services like wallets and block explorers. The tokens also support MetaMask pockets as the only way to login to the system. MetaMask can also be seen in the smart contract source code for deposits and withdrawals for the game, but not all in-game operations. The operations of the game can be seen in the Ether Kingdoms whitepaper.
The game is based on DLT technology, but not all of its operations make use of smart contracts. This means that the game is also not completely decentralized. The reason being is that Ethereum has some limitations and costly transaction fees. But Ethereum is still a favored over other platforms for its safety of information.
Distribution Of IMP Tokens
In total, 13 million IMP tokens will be minted. Of those 13 million, 2 million will be used for internal development of the platform, 1.3 million used in airdrop and bounty campaigns, and 9.7 million will be open to users for mining.
It’s estimated that once the platform reaches its full capacity, all 13 million tokens should be in circulation by September 2019. Once all tokens are in circulation, the designers of the platform will start a mechanism to burn the amount of tokens to induce scarcity and raise their prices.