Entry
We invite you to take a deeper dive into the prospering virtual economy of Open Meta City, where we break down the basic elements of our tokenomics model. This blog aims to provide a clear understanding of how our token system works, its impact on our digital marketplace, and why it is crucial to sustaining growth and user engagement in our ecosystem.
Open Meta City Basics: Tokenomics Explained
At the heart of Open Meta City is our sophisticated tokenomics framework, designed to support and enhance interactions in our virtual real estate marketplace. Our tokenomics is not just about creating a currency, but building an economy that mimics the complexity of real-world financial systems while leveraging the benefits of blockchain technology.
1. Token, point and virtual currency system and their functions
Open Meta City uses a multi-track system of tokens, points, and virtual currencies to seamlessly connect the Web2 and Web3 economies, each with its own distinct role:
• OMZ: The on-chain token in our ecosystem, OMZ, acts as a bridge between the virtual and real worlds. It allows users to engage in transactions that have real-world implications, such as purchasing goods, services, or converting virtual earnings into real currency.
• OMC: These are O2E (Own to Earn) loyalty points earned by participating in community events and activities. They are used on the platform to gain access to special features and exclusive events.
• Clover: It is a virtual currency on the platform, similar to the STAR currency in the Telegram ecosystem. Clover can be loaded via the payment service and used to purchase digital items on the platform, improving the features and user experience.
2. OMZ Token Details
OMZ is the cornerstone of financial transactions that connect the virtual to the real. Here are some key details about the OMZ token:
• Main chain: OMZ is primarily hosted on the Ethereum network, known for its solid security and wide popularity.
• Bridge chain: To facilitate faster transactions and reduce costs, OMZ is also connected to Polygon, providing users with flexibility and efficiency in their transactions. The connection of OMZ tokens between Ethereum and Polygon can be done via Polygon Bridge websiteensuring a hassle-free and secure transfer process.
• Contract addresses:
• Ethereum contract address: 0xd7D9BaBf56A66dAFF2aC5dc96F7e886c05124676
• Polygon contract address: 0x7272a5a8BD39f204bF773E8b74BB01E31681Ad1D
3. Token and points exchange system
Open Meta City offers a vigorous exchange system where users can exchange OMC points for OMZ tokens using Open Meta City Swap system. This feature allows users to leverage OMC earned from participating in various activities on the platform and convert it into OMZ, which can be used for higher-value transactions or even exchanged for real-world currency, providing a seamless transition between earning in the virtual space and reaping benefits in the material world.
4. Earning and spending tokens
• Clover: They can be purchased directly through the Payment Service and used to purchase digital goods on the platform.
• OMC: They can be earned by participating in various activities on the platform and can be used to unlock special content and participate in exclusive events on the platform.
• OMZ: They can be earned through significant investments and property management, and can also be used in high-impact transactions that have a direct connection to real life.
5. Token Distribution and Incentives
Our token distribution strategy aims to promote a sustainable and engaging economy. Clover and OMC are distributed to encourage vigorous participation in the platform, while OMZ, given its on-chain nature and significant value, is rewarded for investment-based activities and huge contributions to the platform.
6. Sustainability and growth
To maintain a stable economy, Open Meta City implements sustainability measures such as transaction fees, selective token burn for OMZ, and long-term holding incentives, including staking options. These mechanisms lend a hand control token supply, manage inflation, and encourage long-term investment in the platform.
7. Transparency and security
Open Meta City ensures that all token transactions are conducted with the highest level of transparency and security. The apply of blockchain technology ensures that all token transactions and distributions are recorded in a clear, secure, and immutable ledger.
Looking Ahead: The Future of Our Tokenomics
Open Meta City is committed to continuously evolving and adapting our tokenomics to meet the needs of our community and stay ahead of technological advances and market trends. This ensures a energetic, hearty, and sustainable economic environment for all users.
Join the Open Meta City community
Discover the extensive opportunities within Open Meta City, whether you are interested in virtual real estate, digital economies, or the intersection of virtual and real assets. Our platform provides a opulent environment for development, learning, and investment.
Stay tuned for more details and updates. Follow us on Medium and participate in our community discussions.
Hashtags: #OMZ #OMC #Clover #P2E #Tokenomics
