Tokenomics Update
HELLX: The Future of the Space is Hell Economy
The HELLX token is the premium currency and utility token at the heart of the Space is Hell economy. Designed for sustainability, player-driven engagement, and long-term growth, HELLX offers meaningful value within the game’s ecosystem while supporting governance and decision-making through a decentralized approach. With the introduction of HELLX, the previously used SMCW token is being officially deprecated, making way for a more efficient and strategically aligned currency.
HELLX will be minted and live on the IMX zkEVM blockchain, ensuring gas-free, low-cost transactions and seamless integration into the game, enabling players to engage in a dynamic and immersive economy.
Transition from SMCW to HELLX
With the evolution of Space is Hell, the SMCW token will be replaced by HELLX, marking a new era for the in-game economy. This transition includes a 1:1 token distribution for existing SMCW holders, ensuring a smooth migration to the upgraded system.
Migration Details:
Snapshot:
A snapshot will be taken to determine all eligible SMCW token holders.
Airdrop:
Eligible holders will receive an equal amount of HELLX tokens (1:1) directly into their wallets.
Distribution will occur seamlessly via the IMX zkEVM blockchain to ensure efficient and gas-free transactions.
Token Generation Event (TGE):
A new TGE (Token Generation Event) will introduce HELLX to the broader community, aligning with its integration into the IMX ecosystem.
This transition preserves the value held by early supporters of the game while enhancing the ecosystem with HELLX's advanced utility and scalability.
HELLX: The Premium Currency
HELLX serves as the premium currency in Space is Hell, a free-to-play MMO designed to provide a dynamic in-game economy, meaningful player progression, and opportunities for shaping the game’s future.
Core Features of HELLX:
Free-to-Play Foundation:
Players can access the game without purchasing HELLX, ensuring inclusivity.
Premium Enhancements:
Unlock advanced upgrades, craft rare items, and customize ships and avatars with unique cosmetics.
Economic Engine:
Powers the in-game marketplace, enabling player-driven trade of resources and items.
Dynamic Burn Rates:
Marketplace fees and in-game purchases will be strategically burned based on supply and demand to maintain economic stability.
Strategic Earning:
Players earn HELLX through marketplace transactions and curated rewards, ensuring sustained utility and value.
New Total Supply of HELLX
The transition from SMCW to HELLX introduces a streamlined economy for Space is Hell, reducing the total token supply from 200,000,000 SMCW to 79,000,000 HELLX. This reduction is achieved by permanently burning 121,000,000 SMCW tokens, ensuring scarcity and long-term value.
Why Reduce the Supply?
Economic Stability: A smaller supply prevents inflation and maintains value.
Enhanced Token Value: Fewer tokens make each HELLX more valuable for holders.
Aligned with Gameplay: Supports dynamic burn mechanics to balance the economy.
SMCW to HELLX Migration
1:1 Airdrop: Existing SMCW holders will receive an equal amount of HELLX tokens.
Burn Mechanics: Marketplace fees, seasonal treasury resets, and PvP loot burns further reduce circulating supply.
This shift ensures a sustainable, player-driven economy, empowering HELLX as the core of the Space is Hell ecosystem.
Governance and Staking Changes
To focus on long-term sustainability and player-driven decision-making:
Staking Removed:
HELLX will no longer offer staking rewards, reducing inflationary pressure and ensuring token value remains robust.
Introduction of a DAO:
A Decentralized Autonomous Organization (DAO) will empower HELLX holders to vote on major decisions impacting the game’s long-term vision.
Governance Topics May Include:
Treasury fund allocation.
New gameplay features or expansions.
Seasonal content updates.
HELLX Utility
HELLX provides diverse utility while maintaining its premium status within the game economy:
Upgrades and Crafting:
Spend HELLX to craft advanced ships, weapons, and gear or upgrade existing assets.
Cosmetic Customization:
Unlock unique cosmetics for ships, avatars, and space stations to stand out in the galaxy.
Marketplace Trading:
HELLX facilitates buying and selling of resources, items, and upgrades in the player-driven marketplace.
Event Participation:
Access exclusive tournaments and seasonal events with rewards funded by the Treasury.
Future DAO Participation:
HELLX holders will participate in governance, influencing impactful decisions for the game.
Dynamic Burn Rates
To combat inflation and ensure a sustainable token economy, HELLX employs dynamic burn rates tied to marketplace fees and in-game purchases:
Marketplace Fees:
A portion of all transaction fees is burned, dynamically adjusted based on supply and demand.
In-Game Purchases:
Fees for crafting, upgrades, and premium services contribute to the burn pool.
Adaptive Strategy:
Burn mechanics are reviewed and adjusted periodically to align with player activity and market trends.
Earning HELLX
HELLX is strategically scarce, with limited earning mechanisms designed to enhance its value:
Player-Driven Marketplace:
Players earn HELLX by selling in-game resources or items to others in the marketplace.
Player-to-Player Trading:
Direct trades foster interdependence and a thriving in-game economy.
Treasury-Backed Rewards:
HELLX is distributed through events, tournaments, and leaderboard rewards to maintain ecosystem stability.
Treasury and Revenue Streams
The Treasury holds 22,887,847 tokens and serves as the backbone of the HELLX ecosystem, funded through multiple revenue streams:
Marketplace Fees:
A portion of fees from in-game item trades contributes directly to the Treasury.
In-Game HELLX Purchases:
Players spending HELLX on crafting, upgrades, and other premium services generate ongoing support for the ecosystem.
Burn Contributions:
A portion of Treasury revenues is dynamically burned, ensuring a healthy and sustainable token economy.
SMCW Deprecation Summary
The deprecation of SMCW and transition to HELLX ensures a modernized, scalable, and player-focused economy. The 1:1 airdrop for SMCW holders honors early supporters, while the new TGE positions HELLX as the premier currency for Space is Hell. By leveraging IMX zkEVM, HELLX combines sustainability, efficiency, and value into one cohesive ecosystem.
Conclusion
HELLX represents the next evolution of the Space is Hell economy. With its transition from SMCW, integration into the IMX zkEVM blockchain, and strategic burn mechanisms, HELLX solidifies its role as a premium currency in a balanced, player-driven economy. The introduction of governance through a DAO empowers players to shape the galaxy's future, ensuring HELLX remains central to the game’s progression and success.
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