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Vulcan Foundation will have a PYR reward pool, with 10M initial tokens, released over a 48 month period. Along with the foundation’s contributions, the pools will be added to four ways (for now), each time equally divided between the two:
- 50% of the fee taken from every Vulcan Marketplace transaction will go into the reward pool
- 10% of every fee taken from direct asset sales (Berserk cards, or Vulcanites for example) will go into the reward pool.
- 50% of every upgrade fee for land, Titans, and Olympians will go into the reward pool
- 10% of every prize pool and tournament fee setup in the Frenzy game goes to the reward pool.
Inside of the flagship game VulcanVerse, the major use case for $PYR is in leveling up and staking in your NFT land(s) and NFT God(s). Each level increase (up to level 7) will have a $PYR fee and also require a $PYR deposit in the form of token staking.
The fee is non-refundable but the staked coins can be removed at any time. Removing staked coins will, however; lower the level of your land or God to the corresponding amount of $PYR remaining staked (e.g. removing X amount could reduce your land from level 4 to level 2). Upgraded land is eligible for monthly $PYR rewards from the $PYR staking reward pool.
The level and quantity of your lands compared to the levels of all other lands in VulcanVerse will determine how much you will receive as part of the monthly $PYR reward pool dividends.