$CGEM is the acronym for Cryptogem. It is the BEP-20 governance and utility token for the CryptoGem ecosystem.
$CGEM will be the sole currency used in the Gemstone marketplace. Players will use it in trading pickaxes, Gem mines, and their farmed gems. It will also be used as fees in upgrading and fusing pickaxes.
In short, $CGEM is used for every trade within the Cryptogem's ecosystem.
Eventually, $CGEM will give the ability to its holders to claim rewards if they choose to stake it. This procedure will decrease the circulating supply and give generous rewards to the holders.
The ultimate goal of implementing staking is to decentralize the game and provide holders with the ability to voice their opinions and participate in the future of the game through a voting process. The process of decentralization will slowly take place in the game to ensure a safe environment for everyone.
As the game evolves towards decentralization, the implementation of a treasury feature is a must. It will function as a "vault" which will stabilize the game's economy and give Staking participants a way to monetize the game.
The Treasury will receive inflow through different streams:
- Marketplace fees
- A portion of the fusion and upgrade fee (the other portion will be burned)
- A portion of the refinement fee (the other portion will be burned)