REVV Motorsport: The Arrival of SHRD
In this post we will take excerpts SHRD Whitepaper, primarily highlighting the rewarded mechanics and utility for the SHRD token within REVV Racing. As well notes on supply management and emission.
The Shard Token or SHRD, is a multi-experience, cross-blockchain fungible token for the REVV Motorsport ecosystem. SHRD exists to reward the act of play and engagement. Becoming the primary reward for participation in the REVV Motorsport ecosystem, and sitting below the REVV token in the wider economic model. SHRD use is experience or game specific, designed to ensure that the utility is relevant to the manner that it is earned: if you earn SHRD through play, its use will enhance your play experience.
Although SHRD becomes the primary token of earn, REVV remains at the core of the REVV Motorsport ecosystem. The REVV token is the primary utility token for purchasing and entry to exclusive events and game content.
SHRD Tokenomics: REVV Racing
Introducing REVV Racing
REVV Racing is an arcade-simulation racing game, which is playable via web browser. It uses the Polygon blockchain for the game’s NFTs, which mostly exist as cars at current. The REVV token is required to access rewarded game events, and to purchase exclusive NFTs.
SHRD Earning System
In REVV Racing, SHRD is earned based on distance driven. SHRD are earned by the mile, with each track having a set number of miles for a single lap. Earning isn’t dynamic, so more SHRD is not accrued by simply driving aimlessly on a track.
The earn rate for SHRD is based on a combination of the REVV fee, event type, and car rarity, but these are variables to a base earn of 5 SHRD per-mile. An example of this can be seen in the tables below. Note: these are for reference only, the final earn rate for an event can be viewed on the specific event details on the game website once SHRD fully launches.
SHRD Earning Rate Example — Entry Fee Multiplier
In addition to the SHRD earned directly from play, SHRD ‘bundles’ (a bundle referring to a one time per-event lump sum) are won based on achieving certain ranks during events. For example, 1st place in an event will receive the SHRD they earned from play, plus a fixed amount based on their final rank for that event.
Car Rarity SHRD Earn
The rarity of each car (there are a total of six in REVV Racing) dictates the base earn rate of that car. With Common cars earning at the default rate, and Apex earning at the highest possible base rate.
Earning Multiplier Formula
((SHRD Earn Base * Entry Fee) * Rarity) * Distance = Total SHRD Earned
SHRD supply is not capped, but the emission is controlled through a monthly mint cycle. SHRD is also burnable. When used they are destroyed, opposed to transferred (compared to a REVV purchase for example). So the circulating supply of SHRD is fluctuating based on the amount earned and the amount used.
The amount of SHRD a player will receive for the monthly cycle is relative to the amount of SHRD earned by a player in total. For example, if Player A has earned 1,000 SHRD, and Player B 100 SHRD, and the supply for the month allows for 100 SHRD per-player average, Player B would not receive 100% of their pending rewards. Instead, Player A would receive 100 SHRD, while Player B receives 10 SHRD. The actual rewarding will not be a simple flat percentage, but include other factors such as:
- Recent activity: Activity by a player that relates to REVV Racing e.g. gameplay sessions. If players didn’t play that month, they will be absent from the payout.
- Total lifetime sessions: Total number of sessions a player has performed. This counts only “Event” sessions (paid), not Practise or Test Centre.
- Car ownership: The number of cars owned.
The latter two factor into the weight of SHRD they will receive from that months minted supply, while the first point determines if someone is eligible.
REVV Racing — Fusion System and Catalyst (CATA)
One of the core utilities for SHRD in REVV Racing is the Fusion System. In brief: the Fusion System allows car owners to ‘fuse’ a car (which exists as an ERC-1155 NFT on Polygon) with another car, and other NFT assets (including those unrelated to REVV Motorsport), to generate new cars.
Fusion is the only way to access certain cars, with those cars granting the owner access to car specific events and gameplay content. This ensures high value utility for SHRD within REVV Racing, as it is the only means to access considerable gameplay content and exclusive NFTs.
SHRD Tokenomics — MotoGP™ Ignition
Introducing MotoGP™ Ignition
MotoGP™ Ignition is a multi-game and collectible experience on the Flow blockchain. Players can collect Card NFTs, Video ‘Hot Shot’ NFTs, and gameplay specific assets (bike parts and rider gear), as they compete against other players in the MotoGP™ Ignition Manager and MotoGP™ Ignition Champions game modes.
MotoGP™ Ignition will be the second title to support SHRD. It is also important to note that with the support of SHRD within MotoGP™ Ignition, comes the support of SHRD on the Flow blockchain, and the SHRD token bridge between Polygon and Flow. This allows for players of both REVV Racing and MotoGP™ Ignition to take SHRD earned from one game, and use it in another.
The first emissions of SHRD in MotoGP™ Ignition will come through the next Hot Shots Card Collectible sale this month, and then with further earn opportunities coming the Champions Mode.
SHRD Tokenomics — REVV Motorsport Tracks
Track NFTs and Ecosystem Usage
Tracks, circuits or courses, (referred to as Tracks for the remainder) are interoperable NFTs across REVV Motorsport. The interoperability of the asset does not necessarily come from direct action (like interoperable car NFTs, for example), but passive inclusion, with them being playable across multiple games.
Today, Tracks include the REVV International Circuit, Joey Logano Grand Prix, Hong Kong City Circuit, and Hockenheimring. With the former two already being live and playable in REVV Racing. SHRD will be earnable for track owners.
SHRD Mint and Supply
The initial mint will see 30,000,000 SHRD created upon genesis, and then 2,000,000 per-month as rewards for at least the first two months (with a potential supply increase early depending on MotoGP™ Ignitions readiness). Of the genesis mint, 3,000,000 SHRD will be allocated to rewards as the first payout, while 25,000,000 will be used for liquidity. The remaining 2,000,000 SHRD from the first mint will be used as a liquidity buffer, but otherwise, utilised in the second mint cycle as rewards if the buffer is not required on liquidity set-up.
To seed liquidity for the token on Decentralised Exchanges (DEX), as SHRD will be paired with REVV on Polygon. With the REVV being provided by REVV Motorsport. The initial pairing will be set at 5:1 (5 SHRD for every 1 REVV).
When Is SHRD Arriving?
SHRD minting will begin this month for REVV Racing, and MotoGP™ Ignition. After the first mint, uncapped and multiplier affected SHRD earning will be available for REVV Racing.
Any questions, give us a shout!
You can find out more about REVV Motorsport, and REVV Racing and MotoGP™ Ignition over at the official Twitter, Facebook and Telegram channels and reach out to us for any questions or comments!