I Love $ROC and $ROL!
Who’s ready to $ROC and $ROL? Well, at the very least, $ROL! That’s right, the Blockstars gameplay token ($ROL) is officially here!
But before we dive into what you can do with $ROL, and how you can get some in your wallets, let’s do a recap of the high-level planned tokenomics of the Blockstars ecosystem, which contemplates a dual-token economy combining a non-inflationary governance token ($ROC) with an inflationary gameplay token ($ROL).
What is $ROC?
$ROC is the main Solana Programming Library (SPL) token used to perform major actions within the Blockstars universe. These include:
- New asset purchases & sales (Blockstars, Record Labels and Limited Edition Items).
- Minting new assets.
- Rewarding players for placing on the leaderboards of Limited-Time Events.
- Paying out staking rewards from the treasury to players to earn passive returns.
- Integrating the in-game economy with real-world economies via exchanges.
- $ROC holders will be able to participate in key governance votes, such as the development roadmap.
The $ROC token is planned for later in the calendar year 2022, once tokenomics have been finalized, with a tentative date in Q3 2022. Read more about $ROC and tokenomics in our whitepaper.
What is $ROL?
In addition to the $ROC governance token, there is a separate Blockstars gameplay token, called $ROL, which is what we are excited to announce today!
The reason for having two tokens is simple — as any game developer who has worked on in-game economies with “soft” & “hard” currencies knows, in-game inflation is virtually inevitable, especially for a soft currency. Consequently, to avoid an inflationary effect on the primary $ROC token, the in-game, day-to-day Play-to-Earn currency has been separated out as its own token.
$ROL Utility
The $ROL token is used for all day-to-day activities, and is the primary currency earned for core gameplay activities. These include:
- Paying for Concert Venue rent.
- Paying to upgrade Record Labels.
- Paying for Game-Owned Recording Studio fees.
- Paying for Player-Owned Record Label % Cut.
- Paying Blockstars’ Minimum Wages & % Cut.
- Earning income from Busking & Gigging.
- Earning income from Singles & Album sales.
To ensure that $ROL continues to maintain & grow in value, it will always be exchangeable in-game for $ROC. As part of the $ROC token allocation, a liquidity pool will be maintained for the explicit purpose of allowing players to convert $ROL into $ROC at any time, in order to convert in-game activities into real-life earnings. The exchange rate of $ROL to $ROC will be determined by a variety of factors, but most notably by the levels of both tokens in circulation, adjusted for momentum (i.e. is circulation increasing or decreasing).
To fund the $ROC:$ROL liquidity pool and maintain a steady supply, a % of the initial $ROC allocation, as well as a % of all $ROC transactions, will be set aside. Read even more about $ROL and how it is utilized in gameplay (as well as a lot of detail surrounding anti-inflationary measures) in our whitepaper.
The $ROL “Airdrip”
Today, February 14th, 2022, we are excited to announce that the first 1 billion $ROL has officially been minted on the Solana blockchain (you can see the token contract on Solana Explorer live here)!
For now, the only way to get your hands on $ROL is through owning Blockstars. For every Blockstar owned and *not* listed for sale on an exchange, the owner will earn a steady “airdrip” of $ROL at the rate of 30 $ROL every 30 minutes (i.e. effectively 1 $ROL per minute). The airdrip begins sometime between 00:01 (12:01AM) and 23:59 (11:59PM) UTC on Tuesday, February 15, 2022.
The airdrip will continue until the first batch of actual Blockstars gameplay features, Practicing and Busking, are ready for players (expected by end of Q1 2022 / early Q2 2022), at which point the airdrip will most likely be turned off, and players can begin to earn $ROL (i.e. add it to the economy; an inflationary action) through Busking, and spend $ROL (i.e. burn it from the economy; a deflationary action) on Practicing. We call these inflationary / deflationary gameplay action pairs “earn & burn” for short.
For now, the best way to guarantee that you receive $ROL through the airdrip every 30 minutes is to keep your Blockstars in your wallet. Note that snapshots of holders take at least 4–5 minutes to process — we make no guarantees about when exactly your wallet will be snapshotted. The best way to guarantee maximal $ROL airdrip earnings is to consistently HODL your Blockstars, without interruption.
Where $ROL?
Your $ROL will automatically show up in the same wallet in which you are holding your Blockstars (if you own multiple wallets with Blockstars, $ROL will automatically show up in each of them). $ROL *should* show up automatically in your wallet, but if you do not see it after the airdrop starts, or if you would like to enable (or disable!) it manually most wallets allow you to do so. Below, for example, the flow to enable / disable $ROL in the Phantom wallet:
I Love $ROC & $ROL!
There can be no better way to end than with this Joan Jett classic — enjoy!
Join us!
This is just a teaser of what we are up to! If you are intrigued by Blockstars, be sure to read much, much more about the game design, tokenomics and development roadmap in our whitepaper, come and chat with other community members in our Discord and follow us on Twitter. If you want to join the team, check out our job openings here. We will also be posting news about upcoming features, roadmap progress & important events regularly right here, on our blog.
Niko Vuori | Founder & CEO | Blockstars
