Cosmic Champs confirmed that the public sale for their governance token, $COSG, will begin on the 21st of April on yLaunch. yLaunch is the first vertically integrated staking, NFTs, and listing platform for Algorand Standard Assets (ASAs).
The Yieldly Finance’s yLaunch staking pools will go live on the afternoon of April 21 (EST), with the token launching on Tinyman DEX on the 20th at 7 pm UTC (early morning of the 21st AEST).
The long-awaited DEX offering of their governance token follows a private sale where the team raised $1.6m. 75% of the private sale tokens are locked for 12-months then they are released on a 12-month vesting schedule. Private sale participants will receive 25% of their tokens when the token launches with most of these tokens going to liquidity on Tinyman.
We don’t know the starting price for the token yet, but Cosmic Champs published a full, multi-page FAQ article on their tokenomics. We already explored some of their core mechanics in our introductory post to the game.
There will be a total of three staking pools, as detailed by yLaunch:
- Stake YLDY > generate COSG
- Stake COSG > generate COSG
- Stake YLDY/COSG LP TOKEN > generate YLDY.
Cosmic Champs confirmed $COSG will be the only on-chain token that will follow this process. With a total supply of 270 millions, the token will be distributed following this chart:
In their two-tokens economy, $COSG is the governance token. $COSM, the in-game reward token, will have a theoretically unlimited supply and will be tradable on decentralized exchanges when it is released with the game. It can only be accumulated in-game, there will be no token pre-sale.
Cosmic Champs is set to be the first real-time 3D game shipping on Algorand. yLaunch is the first launchpad entirely built to support ASAs, and they’re very excited to have Cosmic Champs as their first main partner.
“We are happy to be helping launch a project like Cosmic Champs, who are paving the way for decentralized gaming on the Algorand blockchain with us,”Yieldly Co-Founder and CEO Sebastian Quinn.
Cosmic Champs NFT drop
This quarter, probably in May, Cosmic Champ will drop 1400 NFTs: a few ships and 3d characters. The NFTs will be purchasable with $COSG on the Cosmic Champs marketplace.
On a Twitter Space recording, one of the co-founders mentioned their goal for the NFTs is to have a full story background, in-game utility, and great future-proofing. In relation to the latter, Cosmic Champs NFTs will be usable in their other games in the Cosmic Metaverse and can be balanced inside the game to not give too many advantages to NFT holders.
The team wants to make the game fair to all, including free-to-play players. The CEO stated that Cosmic Champs NFTs will not cost “hundreds of dollars”. They will be affordable, and available to all through a public sale. There will be no whitelisting necessary.
In the future, NFT holders might get additional benefits before and after the game release. Their growth lead, Akasha, hinted they could get access to a whitelist to test the game first-hand soon.
It is pretty much always good to join a new project from the beginning, and here is your chance to do so. If you want to get involved early in Cosmic Champs, mark your calendar, join their community on Discord and follow the official Twitter account to get the latest updates.