Qwan Token Launches on Ethereum to Revolutionize Gaming Industry with Web3 Technology
Qwan, a Web3 crypto token aimed at transforming the gaming industry by actively involving users, has announced its launch on the Ethereum ecosystem on May 31. The project has garnered support from prominent Web3 investors, including Horizen Labs Ventures, known for backing successful GamiFi projects such as Yuga Labs, The Sandbox, and Animoca Brands. The Qwan token aims to establish a decentralized economy for gamers worldwide by incentivizing their activities.
Taking a closer look at the Qwan ecosystem, several centralized exchanges, including MEXC, AscendEX, and BTSE, will list the Qwan token at an initial price of around $0.15.
Rohan Handa, Founding Member and SVP of Business Development at HLV, expressed excitement about Qwan’s potential to positively impact and shape game economies, introducing new utilities and community-led governance that can attract existing Web2 gamers.
Furthermore, Banger, a gaming platform and marketplace, has announced plans to integrate with the Qwan token and collaborate closely with the Qwan Foundation. The integration with Banger is expected to attract gaming projects that lack economic incentives for their players, providing unique gaming experiences facilitated by the Qwan token, as stated by Borja Villalobos, CEO of Banger.
Operating as a decentralized network, the Qwan Foundation utilizes the QWAN DAO to ensure community participation in governing matters concerning the protocol.
The market outlook for a crypto token is significantly influenced by its tokenomics. The Qwan team has designated a fixed supply of 1 billion units for the token. Out of this total supply, approximately 455 million tokens, accounting for 45.5 percent, are allocated to the ecosystem’s treasury governed by the Qwan DAO. The Qwan Foundation plans to utilize this treasury allocation for gaming incentives, fostering partnerships, and providing grants, among other initiatives.
Moreover, around 253 million Qwan tokens, equivalent to 25.3 percent of the total supply, have been allocated to Qwan partners. The remaining percentage is divided among investors and launch contributors, with 168.3 million and 123.6 million tokens respectively. To ensure the stability of the Qwan network, the tokenomics are designed with different unlock periods for each category, ranging from 12 to 72 months.
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