Everything You Need To Know About The Genopets KI Token – Play to Earn

With the seed sale for Genopet’s KI token complete, and an airdrop soon to those staking GENE tokens, it’s time to take a look at this game token and see what it’s all about.

Genopets runs with two tokens, GENE, and KI. While GENE can be staked and includes future governance perks, KI is the primary game utility token. Genopets ran a seed sale for their KI token just a few weeks ago. They sold 20 million tokens using a dynamic pricing model. This model causes the token price to drop when no one is buying, and then increase when the buying activity kicks in again. The end result of the sale saw KI tokens priced at just over 10 cents (USD) each.

In addition to this token sale, Genopets plans to airdrop an additional 20 million KI to everyone who staked GENE tokens before June 18th. This airdrop should begin sometime soon and will be a slow, steady trickle rather than a standard drop. Vested out over 90 days, stakers receive KI tokens in proportion to their staking weight (calculated from the number of tokens staked and the staking period length).

And finally, Genopets created a base liquidity pool using another 20 million tokens, for a total of 40 million tokens in circulation with another 20 million dripping out over the next 90 days.

KI Tokenomics

The KI token has no fixed supply. Aside from the initial tokens generated from the seed sale, liquidity pool, and airdrop, players create KI tokens in-game by converting Energy from their daily walks. Players convert their Energy to KI with Habitats. Players can choose a waiting period when converting of up to 14 days. This is kind of like a vesting period and allows the player to earn a better conversion rate. The conversion rate is pretty low overall. At the best rate, 1 Energy converts into 0.02 KI tokens.

Of course, the problem with constant token printing is inflation. To combat this, Genopets includes a number of use cases for KI. Any sort of upgrade, improvement, or enhancement to Genopets and Habitats requires KI tokens. Players are also limited in how much KI they can generate based on their Habitat level. A level one non-Genesis Habitat is capped at a daily limit of 30 KI, while a level three Genesis Habitat can harvest up to 80 KI per day. Players can also connect several Habitats to increase this limit.

And though the team is trying hard to make sure their economic model is sound prior to release, it’s likely that some adjustments will be made along the way.

KI Token Utility

KI token is the utility token for Genopets and the gateway to pretty much every activity in the game aside from the basic Energy generation.

Players use KI tokens with Unrefined Crystals in their Habitats to create Refined Crystals. Those without Habitats will have to rent from owners in order to convert Crystals. Creating a Refined Crystal costs 10 KI tokens. These Crystals are used for Habitat repairs, to modify Genopets, or…