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ZILO #4: ZilChill (PLAY)
Completed on 14 Dec 2021
An Introduction to ZilChill
GameFi has been the latest craze recently, and in the next ZILO, we've got a project that aims to make games and predictions open and permissionless. Brought to you by the RedChillies Team, ZilChill is a one-stop gaming platform that allows users to take part in multi-player gaming, make sport game predictions via a native predictionDEX, lend and borrow with collaterals, and earn game collectibles!
What is PLAY?
$PLAY is a utility token of ZilChill and will be used as the payment and reward token that will complement the existing $REDC governance token. Read the section below on the key use cases of $PLAY:
1 | Participate in Multiplayer Games and be Rewarded!
The ZilChill platform currently supports multiplayer games including Chess and Ludo Dice (the latter to be rolled out in the first week of January 2022), with more interactive games such as Skribble, Hangman, Slither, ClashRoyale, or MortalCombat to be supported. Each game will be created permissionlessly and can be joined by anyone.
Where are the rewards from?
Hosts and players will contribute the following amounts to a prize pool:
- Hosts will contribute 0.1 – 10 $REDC to create a game
- Players will contribute a minimum of 300 $PLAY to join a game
How are the rewards distributed?
Contributions made to the reward pool will be split amongst the game host (10%), winners (80%), REDC holders (5%), and the oracle (5%). More details can be found here.
Making the game more accessible!!
To attract cross-chain users into the ecosystem, ZilChill will allow users to participate and contribute to the game pool using bridged tokens (zWBTC, zUSDT, zETH) and seamlessly have it auto-swapped to PLAY to ensure there is a common denomination across contributions.
Who says chill games can't be competitive?
While playing games, hosts and players will be able to customise and level up their profiles in ZilChill's very own ranking system — ZilChill Rankings, also known as ZRC. A gamer's profile level will depend on the number of games a player has hosted, played, and won. The higher the ZRC number, the more skills a player has.
2 | Native PredictionDEX
On ZilChill, you will also be able to use PLAY to make predictions on real-world outcomes and be rewarded when successfully predicting an outcome. Similar to ZilSwap, ZilChill will have an AMM feature that will allow for swapping of conditional-tokenized predictions. Over 3,600 games have been successfully hosted so far including football, cricket, and basketball matches, with more sports and real-world events to be supported.
For more information on the PredictionDex, please refer to: https://docs.redchillies.org/redchillies-labs/whitepapers/play-whitepaper.
A preview of the upcoming prediction DEX that is in the works.
3 | Lending and Borrowing
The GameFi platform of ZilChill will also include a lending and borrowing mechanism to meet the demand of PLAY tokens:
- PLAY token holders may stake their PLAY tokens and lend their tokens to other users at varying interest rates
- These staked PLAY tokens will act as a supply for other users who are non-token holders looking to play on ZilChill. They can then borrow $PLAY by depositing $ZIL, $zWBTC, $zETH, $zUSDT, $gZIL, or $REDC as collateral.
More tokens can be added via REDC governance voting in future.
For the full roadmap and milestones of ZilChill, refer to: https://docs.redchillies.org/redchillies-labs/whitepapers/play-whitepaper#roadmaps-and-milestones.
Tokenomics
PLAY will have a fixed total supply of 1,000,000,000 PLAY, of which 465,000,000 PLAY will be circulating at launch.
- ZILO (30%): 300,000,000
- Initial liquidity (15%): 150,000,000
- Liquidity rewards (10%): 100,000,000 (Curved distribution over 4 years | 35% > 30% > 25% > 10%)
- Ecosystem building:
- Liquidity on other DEXes like Uniswap/Pancakeswap (1.5%): 15,000,000
- Other liquidity & marketing (12.5%): 125,000,000
- GameFi (lending/borrowing) staking incentives (10%): 100,000,000 (50% allocated for linear distribution over 4 years | Other 50% allocated for programme-based incentives)
- Retroactive reward for REDC community (1%): 10,000,000 (One-time airdrop to REDC holders. A snapshot has been taken at the point of this announcement)
- Team, treasury, and advisors (20%): 200,000,000 (Curved monthly distribution over 4 years | 35% > 30% > 25% > 10%)
Launch Details
Start time: 9am UTC, Tuesday, 14 December 2021
End time: 9am UTC, Wednesday, 15 December 2021
Amount to be raised: $2,100,000 USD
- ZIL committed (to project): $1,470,000 USD
- ZWAP committed (to burn): $630,000 USD
Tokens to be sold: 300,000,000 PLAY (30% of total supply)
Price per token: 1 PLAY = $0.007 USD ($0.005 worth of ZIL + $0.002 worth of ZWAP)
Project Details
Learn more about ZilChill through the links below.
Project: ZilChill (PLAY)
Disclaimer: All projects are subject to market risk and volatility. Please practice caution and do your own research and full due diligence before considering investing your funds in any project. ZilSwap will not be held responsible for any investment losses.
Last modified 2mo ago