VEL Policy

(VELZEROTH)

Written : 2023.08.17

VEL is the game token can be exchanged with in-game currency. Players can enjoy in-game content and purchase items by consuming on P&E MMORPG ICARUS M: GUILD WAR. VEL is a digital asset linked to the WEMIX blockchain platform.

We will form a strong token economy by considering various factors such as the value between in-game currency and VEL, the supply and demand of VEL, and the VEL value.

- VEL Issuance and Allocation Plan

VEL Max Supply: 1,000,000,000 VEL (1 Billion)
Daily Max VEL Supply: 1,000,000 VEL (100 Million)

VEL Allocation Plan

Type	Allocation Amount	Percentage	Notes
Game Economy Operation	670,000,000	67%	Number of VEL can be casted
Platform Operation	30,000,000	3%	WEMIX Platform Operation Fee
Marketing	200,000,000	20%	Marketing & POOL Deposit
Development Incentive	100,000,000	10%	Incentives for VALOFE employee
Total	1,000,000,000	100%

Marketing

VEL can be used as a marketing reward and airdrop and providing DeFi and Staking services.
Marketing volumes can be used to stabilize the supply, demand, and value of VEL for POOL deposits on WEMIX PLAY GameFi systems.

Development Incentive

5% of the VEL maximum supply can be used for VALOFE employee incentives.

- P&E Related Currency

ICARUS M: GUILD WAR users can obtain 3 different types of in-game currency(Dragon Scale, Scale Crystal, Rania Ellun) used for VEL exchange through various contents and systems.

Dragon Scale(DS)

Users can earn Dragon Scale(DS) through various contents like gathering and taming familiars, quests, ranking rewards, achievements, etc.
Also, users can use DS by purchasing Scale Crystal(SC) for VEL casting in the game shop and consuming various contents like equipment Crafting / reinforcement / awakening / reforging / transcendence, and familiar reinforce / transcendence.

Scale Crystal(SC)

Users can purchase Scale Crystal(SC) in Dragon Scale(DS) from the store. SC can be used as the major component of VEL casting on the VEL Token Exchange.

Rania Ellun(RE)

Users can earn RE(Rania Ellun) by watching ads. RE can be used as the sub-components of VEL casting on the VEL Token Exchange.

- VEL Acquisition

ICARUS M: GUILD WAR users can earn DS(Dragon Scale) through various in-game contents including gathering, quests, battles, Hall of Treasure entrance, Ari's Temple , Tower of the Lord God, ranking rewards, and achievements. Users can use SC(Scale Crystal) and RE(Rania Ellun) to cast VEL on the VEL Token Exchange. Also, DS(Dragon Scale) and token VEL is obtainable through the VALOFE web platform (VFUN).

Dragon Scale(DS) → Scale Crystal(SC)

Scale Crystal(SC) is available for purchase by using Dragon Scale(DS) in the in-game shop.

Scale Crystal(SC) + Rania Ellun(RE) → VEL

Users can cast VEL using Scale Crystal(SC) and Rania Ellun(RE) at the VEL Token Exchange.

With the Dragon Pass, users can cast VEL by Scale Crystal(SC) only without using Rania Ellun(RE).

- VEL Consumption

VEL can be traded via PLAY Wallet and WEMIX PLAY's PNIX DEX, or exchanged for other tokens via SWAP, and can be exchanged for the in-game currency DS(Dragon Scale). Users can use DS to purchase in-game items and enjoy various contents such as crafting/leveling/strengthening/awakening/transcending/reforging of equipment, taming/strengthening familiars, Roulette, and more.

VEL ↔ WEMIX$

VEL is deposited in pairs with WEMIX$ in the POOL of the WEMIX PLAY GameFi system and can be exchanged via SWAP for several other tokens supplied by WEMIX PLAY. The value of VEL is determined by market supply and demand and is subject to volatility.

VEL → DS(Dragon Scale)

VEL can be exchanged for the in-game currency Dragon Scale(DS) based on the exchange rate. DS can be used to purchase in-game items and various contents.

- VEL Casting and Exchange

This is the standard for the currency consumption ratio to cast VEL using SC(Scale Crystal) and RE(Rania Ellun) or to exchange DS(Dragon Scale) for VEL. Criteria such as the ratio of VEL casting and DS(Dragon Scale) exchange rate may change through the in-game token economy adjustment and VEL Distribution Control System.

SC(Scale Crystal) Purchase

Users can purchase 10 Scale Crystal(SC) per character by using Dragon Scale(DS), and the commission fee will be changed based on the purchase counts.

1 SC(Scale Crystal) has a base price of 100,000 DS(Dragon Scale) and a base commission fee of 10,000 DS(Dragon Scale), and the commission fee will increase as the number of purchases increases. The base price and commission fee, as well as the number of purchases, are subject to change through the VEL Distribution Control System to adjust the in-game token economy.

1 SC(Scale Crystal) = 100,000 DS(Dragon Scale) + (10,000 DS(Dragon Scale) * Number of purchases)

Purchase Counts	Base price	Commission Fee	Actual Price
1	100,000 DS	10%	110,000 DS
2	100,000 DS	20%	120,000 DS
3	100,000 DS	30%	130,000 DS
4	100,000 DS	40%	140,000 DS
5	100,000 DS	50%	150,000 DS
6	100,000 DS	60%	160,000 DS
7	100,000 DS	70%	170,000 DS
8	100,000 DS	80%	180,000 DS
9	100,000 DS	90%	190,000 DS
10	100,000 DS	100%	200,000 DS

Casting Rate

Users can cast daily 10 VEL per character at the VEL Token Exchange, and the quantity of SC(Scale Crystal) and RE(Rania Ellun) required for casting VEL will be determined by the Casting Rate. RE(Rania Ellun) will be excluded from the Casting Rate when using the Dragon Pass. The VEL Casting Rate and the number of VEL that can be cast are subject to change by the VEL Distribution Control System to adjust the in-game token economy.

1 VEL = 1 SC(Scale Crystal) + 3 RE(Rania Ellun)

Exchange Rate

There are no specific restrictions on exchanging VEL for DS. The base price for exchanging 1 VEL is 100,000 DS after deducting a 15% exchange fee. The exchange fee is subject to change through the VEL Distribution Control System to adjust the in-game token economy.

1 VEL = 100,000 DS(Dragon Scale) * (1 - Exchange Fee)

Exchange Counts	Base price	Commission Fee	Actual Acquisition
No limits	100,000 DS	15%	85,000 DS

Default Setting

1 VEL = 1 SC(Scale Crystal) = 100,000 DS(Dragon Scale)

Daily Max SC(Scale Crystal) Purchase and VEL Casting

Up to 10 SC available for purchase per character
Cast up to 10 VEL per character
Cast up to 1,000,000 VEL overall

Daily SC purchase and VEL cast limit updated at 00:00:00(UTC+8).

VEL Token Exchange (SC → VEL → DS)

ICARUS M: GUILD WAR user can cast SC to VEL or exchange VEL to DS on the VEL Token Exchange.

- VEL Properties

VEL is the game token that can be useful and provide diversity to ICARUS M: GUILD WAR users.

VEL can be cast using the game currency, Scale Crystal(SC). Also, Dragon Scale(DS) can be used to enjoy the major game contents and purchase items in the game.

Prevent the VEL inflation over time and promote game growth after the VEL supply. We will closely monitor the VEL casting and DS exchange status and coordinate it through the VEL Distribution Control System to build a strong and advanced token economy.

※ The Policy is not legally enforceable nor binding and may be amended as necessary, depending on the circumstances of game service.