Powering Vulcan Forged
Note
Vulcan Forged is already an established non-fungible token (NFT) game
studio, marketplace and dApp incubator with 10+ games, a 2,000+
community and top 5 NFT marketplace volume.
Thus, the PYR economy is designed to fill numerous
use-cases in need of their own token. Some of our games, specifically the
upcoming VulcanVerse, have specific terminologies and can be
understood in more depth by visiting any of our social media channels:
https://www.twitter.com/VulcanVerse
https://www.twitter.com/VulcanForged
Or our websites:
https://vulcanforged.com
https://vulcanverse.com
Even if you do not wish to take part in the ILO event, there are multiple
ways still to earn PYR, including:
- Converting LAVA from playing and engaging in the ecosystem
- Selling NFTs
- Winning Tournaments
- Allocating your land as a portal
- Airdrops/rewards
You are then able to use your collected PYR to participate in the platform,
or buy other assets on the marketplace
Table of Contents :
Vulcan Forged 04
Games and Applications 05
Vulcan Foundation 06
PYR Token 07
Fee Settlement 08
Reward Pools 09
LAVA and Play-to-Earn 10
Staking 11-13
Game Dev Crowd Funding 14
Attention Utility Token 14
Frenzy 14
14
Titans And Olympians 15-16
ILO Information & Token Generation Event 17-23
1.2 Vulcan Forged
Vulcan Forged has grown from a small digital art NFT platform to a multi-dApp
platform, game studio, launchpad and a top 5 volume NFT marketplace. Second
only to Walmart, they are the busiest client on the VeChain Network, moving from a
few users to thousands with just under $3m in NFT trading volume. Their AAA fantasy
decentralized universe VulcanVerse, backed by fighting-fantasy authors and
award-winning studios, sold out in days and has already entered alpha gameplay.
Vulcan Forged prides itself on removing gas and crypto for game developers using
their platform and offers support to any third-party with a simple idea wanting to
turn it into reality. Community members have gone onto making their games with
ground-up support, including Coddle Pets, Block Babies and GeoCats.
04
Games and Applications
2.3
Vulcan is already an established game studio, eco-system and top-tier NFT
marketplace with 1,000s of users, 10+ dApps and $3m in trading volume.
05
Vulcan Foundation
2.3
Vulcan’s BVI Company (Vulcan Forged LTD) will be the token issuer to hold and thereafter sell
the digital tokens for the ILO, while the Vulcan Foundation based in Singapore will be the
governance and public-facing entity providing the platform for marketing, community
development, overseeing game development and overall operations.
06
PYR Token
The native digital cryptographically-secured utility token of the Vulcan.Forged platform
(PYR) is a transferable representation of attributed functions specified in the protocol/code
of the Vulcan.Forged platform, and which is designed to be used solely as an interoperable
utility token on the platform and across different game environments. PYR Token is an ERC-
20 token to be ported to Matic.
As the native platform currency, PYR will play the role of the settlement medium, staking (for
privileges) and gaming utility token within the entire Vulcan Forged ecosystem.
For example, a user could purchase assets of VulcanVerse from PYR token rewards earned
by winning a game of Berserk, Block Babies or Coddle Pets.
For every PYR transaction, 10% will be sent to the reward pools for distribution to ecosystem
contributors. There are innumerable use-cases for PYR, and will slowly replace VET as the
marketplace token of choice. PYR allows the users of the platform to earn from their positive
efforts, and thoroughly increase user engagement within the platform. It will be used for fee
settlement, staking to obtain privileges, participation in Defi game launchpads, play-to-
earnFee
benefits, gaming platform pools, and discounted marketplace usage.
settlement
Play-to-Earn
Reward pools
Staking
Frenzy (Game Tournament Pools)
Basic attention token
Community incentives
07
Fee Settlement
2.2
Whenever players are operating in a specific game environment, there are assets that
they might want to purchase directly from game creators.
The current Vulcan Forged marketplace will be transitioning away from its current token
of VET for NFT purchases to PYR. This will be for both B2C and C2C.
Currently, the marketplace consistently places in the top 5 NFT marketplace volumes
across the blockchain space. Thus due to traffic, the transition will take place in two
stages:
1) Both PYR and VET will be used in parallel. However, a 10% discount for buyers and 10%
discount for sellers will be granted if PYR is used.
2) Following the complete transition from VET to PYR, users will be required to adopt the
Vulcan Forged wallet, powered by Arkane, that will allow them to store, interact and use
both their PYR and NFTs.
08
Reward Pools
Vulcan Foundation will fund two PYR reward pools, with 10M initial tokens, released over a 24 month
period. One pool is the ‘LAVA Pool’ (Play-to-earn) and the other a Staking Pool. Along with the
foundation’s contributions, the pools will be added to four ways (for now), each time equally divided
between the two:
1) 10% of the fee taken from every Vulcan Marketplace transaction will go into the pools.
2) 10% of every fee taken from direct asset sales (Berserk cards, or Vulcanites for example) will go
into both pools.
3) 50% of every upgrade fee for land, Titans and Olympians will go into both pools.
4) 10% of every prize pool and tournament fee setup in the Frenzy game platform will go into both
pools.
09
LAVA and Play-to-Earn
2.2
Vulcan Forged has a plethora of games, and is expanding at a rapid rate. However, an
ecosystem needs users, games need players, and play-to-earn models are proving
successful across the gaming industry.
We reward users with LAVA CRYSTALS, an off-chain value linked to wallets, by simply playing
and engaging with any Vulcan Forged made or hosted game.
We are allocating 10% of the entire PYR supply into the LAVA (Play-to-earn) pool, over a
period of 24 months.
Token Amount % of total supply Unlock schedule
5,000,000 10 24 Months
Each month, users will receive xPYR where x is the % of PYR in the play-to-earn pool, relative
to the user’s LAVA count earned versus the total amount of LAVA earned by all users. Some
specific examples of how to earn LAVA:
Win matches in any Vulcan Forged games e.g. Berserk, Block Babies, Forge Arena, Chess
Explore our giant Virtual World VulcanVerse (measured in time played, or distance covered)
Trade regularly in the Vulcan Market Place
Upgrade your VulvanVerse land, Titans or Olympians
Receive ‘Appreciations’ of your land in VulcanVerse
Snapshot your land, or current rankings to blockchain
NB. LAVA is also required to upgrade assets across our ecosystem including VulcanVerse land
as well as assigning powers to various cards. ‘Hoarding’ or spending your LAVA is your choice.
10
Staking
2.2
PYR tokens are required to be locked-up and staked within the ecosystem in order to
receive privileges and gain access to exclusive functions/levels/upgrades/areas within the
gaming ecosystem. One example of this is within the VulcanVerse Virtual World, where each
plot has 7 levels (in addition to payments of PYR to pay for the upgrades, tokens need to be
locked-up and staked to access and retain each level up, which brings better in-game
tools and benefits). As a reward for these positive actions, users are entitled to receive PYR
tokens from the Staking (Reward) pool.
We are allocating 10% of the entire PYR supply into the Staking (Reward) pool, over a period
of 24 months.
Token Amount % of total supply Unlock schedule
5,000,000 10 24 Months
The earnings that you’ll receive from staking will be proportional to the amount of
spending/contribution of each user relative to the others. Unless a user continues to
participate, its corresponding token rewards will gradually be diluted.
Rewards will be delivered each month, separate from the LAVA pool rewards.
11
Staking (cont.)
Since PYR users will be eligible to receive reward flows in the form of the fPYR tokens (fractional
PYRs), we can estimate an approximate expectation for the value of said flows.
Discounted Cash Flow Analysis (DCA) has been long tested as an evaluation methodology of
traditional staking. The purpose of DCF analysis is to estimate rewards one would receive, adjusted
for time value. Since 2020, ILOs involving staking have used DCA as the de-facto standard for any
token with periodic token flow payments on staking. The formula for calculating the net present
value of a future cash flow goes as follows:
3 Investopedia, Discounted Cashflow Analysis –
https://www.investopedia.com/terms/d/dcf.asp
12
Staking (cont.)
For our rewards estimate, we are taking a very conservative approach, by looking at the existing
Vulcan Ecosystem games and assuming that we will be able to reach the projected volume (as
highlighted in Token Valuation sheet) within a 5-year period and positive spending/participation
by users will remain constant (while majority of other projects have reached their targets within 2-3
Also note, that only users who have participated and contributed in the platform will be eligible for
years).
receiving PYR token incentives. At this point the exact number of users who will be willing to perform
these positive contributions is unknown, but for the purpose of this calculation, we will assume that
50% of all circulating tokens will be utilised by users for game participation and locked-up at any
given point in time.
13
Game Dev Crowdfunding
PYR will allow users to fund the operations of third party game developers within the Vulcan
ecosystem, via a liquidity pool for developer grants. Vulcan Foundation will retain a small
margin of the interest rate on those loans (in PYR) and pass the remaining to the original
liquidity providers. Interest in the trade financing protocol will be payable in PYR tokens, and
the entire process will be automated by secondary smart contracts.
Attention Token Utility
While not the main function of the PYR token, it still can be used as a pure medium of
promoting new users to any Vulcan dApp by rewarding them with loyalty points in the form
of PYR tokens, and also bring financing to third party dApps. Advertisers are given options of
paying in PYR tokens and/or locking up these tokens for the period of advertising.
FRENZY
Frenzy will be released by the end of Q1. This is Vulcan.Forged’s gaming platform where
users can create tournaments across any Vulcan Forged game and users pay an entry fee
using PYR. The winners after said tournament will share the prize pool. The platform will have
easy API routes to allow any game to activate ‘Frenzy Mode’ and enter a game using PYR to
win.
14
Titans and Olympians
Titans and Olympians are DYNAMIC NFT companions. That means their look and level can
change depending on the amount of PYR locked into them. They are your companions across
the entire Vulcan Forged ecosystem and offer numerous benefits. In order to ‘age’ one of the 12
Titans or one of the 12 Olympians, you must nurture them with PYR along with a fee per
upgrade. 50% of that fee will go to the reward pools.
15
Titans and Olympians (cont.)
Here are some of the benefits Titans and Olympians provide:
1) 10%-70% off marketplace fees for any Titan/Olympian. These are non-stackable. For example,
if you have nurtured your baby Hyperion to God mode (level 7), you will receive 70% discount on
marketplace sales.
2) 10% - 70% extra LAVA when LAVA is earned by playing games. These are non-stackable. For
example you have won a game of Berserk and are owed 10 LAVA, you will receive 17 LAVA if you
have a Level 7 Zeus attached to your wallet.
3) 10%-70% extra rewards from any staked PYR. For example, you have one plot of level 7 land in
VulcanVerse which contains 1000 PYR staked. If you assign a level 7 Titan to that land, you will
receive rewards as if you are staking 1700 PYR.
N.B. You can assign only ONE Titan or Olympian to a plot of land. The exceptions are Zeus and
Cronus, both of which can have their multipliers added to 3 plots.
4) Access to Elysium (Level 7 only). If you own a Titan or Olympian, you are allowed access to a
heavenly island within VulcanVerse. Here, you can forage NFTs exclusive to the ‘Vaults of Vulcan’.
The land cannot be owned by users, but contains NFTs and PYR pits that can be only be
foraged there. It’s also the only place in VulcanVerse where you can enter even if you don’t own
land.
16
ILO information & token generation event
Basics:
Ticker: PYR
ILO start date: February 25th
ILO end date: March 19th
IEO Denomination currency: USD
Accepted currencies: USD, ETH, MATIC, VET
Jurisdiction: BVI
Eligibility: Subject to KYC and AML
Compliance: None
Token purchase contract: SAFT
ILO waves: 3
17
Token Generation Event Summary:
Sale type: ILO
Softcap: 0 MM USD
Hardcap: 5.74 MM USD
ILO Tokens: 20 MM PYR *
Remaining tokens post ILO: burned
ILO allocation: 40%
Initial Total Tokens: 50 MM PYR
Token type: Fixed supply
*Important notice Under SEC rules, this token is
not a security but a utility
Stage 1 : 750,000 PYR sold @0.40 USD, with bonuses: 75.0% for all
purchasers = 0.3 MM USD raised (1,312,500 max tokens allocated)
Stage 2 : 6,750,000 PYR sold @0.40 USD, with bonuses: 50.0% for all
purchasers = 2.7 MM USD raised (10,125,000 max tokens allocated)
Stage 3 : 6,850,000 PYR sold @0.40 USD, with bonuses: 25.0% for all
purchasers = 2.74 MM USD raised (8,562,500 max tokens allocated)
18
Stage 1 (Private): Stage 1 (Private)
Token price: 0.40 USD
Bonuses: 75.0% for all purchasers
Wave number of tokens available: 1,312,500 PYR
Wave cap: 0.3 MM USD
Cumulative number of tokens available: 1,312,500 PYR
Cumulative cap: 0.3 MM USD
Minimum purchase: 1000 USD
Maximum purchase: 10000 USD
Wave start: February 25th
Wave end: February 26 th
19
Wave 2: Stage 2
Token price: 0.40 USD
Bonuses: 50.0% for all purchasers
Wave number of tokens available: 10,125,000 PYR
Wave cap: 2.7 MM USD
Cumulative number of tokens available: 11,437,500 PYR
Cumulative cap: 3 MM USD
Minimum purchase: 100 USD
Maximum purchase: 10000 USD
Wave start: March 16th
Wave end: March 17th
20
Wave 3: Stage 3
Token price: 0.40 USD
Bonuses: 25.0% for all purchasers
Wave number of tokens available: 8,562,500 PYR
Wave cap: 2.74 MM USD
Cumulative number of tokens available: 20,000,000 PYR
Cumulative cap: 5.74 MM USD
Minimum purchase: 100 USD
Maximum purchase: 20000 USD
Wave start: March 18th
Wave end: March 19 th
Stage 1 : 1,312,500 PYR sold @0.40 USD, with bonuses: 75.0% for all
purchasers = 0.3 MM USD raised
Stage 2 : 10,125,000 PYR sold @0.40 USD, with bonuses: 50.0% for all
purchasers = 2.7 MM USD raised
Stage 3 : 8,562,500 PYR sold @0.40 USD, with bonuses: 25.0% for all
purchasers = 2.74 MM USD raised
Bonus tokens for each stage.
Figures are shown as % bonus versus the minimum ILO bonus.
21
5.0 (10.0%)
10.0 (20.0%) 20.0 (40.0%)
15.0 (30.0%)
Total tokens allocation. Assumes reached Hardcap.
10.0 (20.0%)
10.0 (20.0%) 30.0 (60.0%)
Breakdown of the funds' utilisation between the Softcap and the Hardcap.
22
