Economic Model Implementation
Goal: To build a healthy token economy ecosystem through diversified application scenarios, reward mechanisms, destruction strategies and incentivized airdrops, and to enhance the utility, scarcity and user participation of PetToken (PET).
Application Scenarios
Platform Service Payments
Description:
Users pay for various platform services using PetToken, including pet boarding, online veterinary consultations, and Metaverse event registration.
Payment scenarios cover all core functionalities, ensuring the practical value of the tokens.
Specific Applications:
Pet Boarding: Booking boarding services (Example: 30 PetToken per day).
Online Consultations: 30-minute veterinary video consultations for 50 PetToken.
Metaverse Activities: Virtual competition entry fee 10 PetToken, virtual venue rental 20 PetToken.
Product Purchases: Purchase pet food, toys, etc. (Example: one pet toy for 15 PetToken).
Purpose:
Increase practical use cases for tokens, driving user demand.
Ensure widespread circulation of tokens within the ecosystem.
NFT Minting and Trading
Description:
Users pay NFT minting fees with PetToken to create virtual pet files, competition rewards NFTs, or Metaverse items.
The NFT trading marketplace uses PetToken for settlement, with the platform charging a transaction fee.
Specific Applications:
Minting NFT Pet Files: Basic file 20 PetToken, advanced file 50 PetToken.
Minting Metaverse Items: Limited edition virtual crown 50 PetToken.
NFT Trading: Users buy and sell NFTs in the marketplace (Example: an NFT trophy priced at 1,500 PetToken), the platform charges a 2.5% transaction fee (37.5 PetToken).
Purpose:
Increase token demand in NFT-related scenarios, enhancing token value.
Fee income supports platform operation and ecosystem development.
Community Interaction and Voting
Description:
Users use PetToken in short video communities, competition voting, and governance activities for interaction.
Tokens are used for likes, rewards, and voting, enhancing community engagement.
Specific Applications:
Competition Voting: 1 PetToken per vote in pet talent competitions.
Community Likes: Like a short video for 1 PetToken, reward premium content with 2-10 PetToken.
Governance Voting: Holders of PetToken can participate in platform proposal voting (Example: "Add pet insurance service" proposal requires 100 PetToken voting rights).
Purpose:
Incentivize user participation in community activities and enhance user retention.
Grant users governance rights through voting mechanisms, promoting decentralized management.
Holding and Privileges
Description:
Users can hold PetToken to gain platform privileges and rewards, such as weighted voting rights and free access to advanced Metaverse scenarios.
Encourage users to hold tokens long-term, stabilizing token economics.
Specific Applications:
Hold 100 PetToken for one week to obtain 1.5x voting weight for competition voting or governance proposals.
Hold 200 PetToken for one month to access advanced Metaverse scenarios for free (Original cost: 5 PetToken per entry).
Holding Rewards: Monthly rewards based on holding quantity and duration (Example: Hold 500 PetToken for 30 days to receive a 10 PetToken reward).
Purpose:
Encourage users to hold tokens long-term, reducing market sell-off pressure.
Increase user token holding demand through privilege mechanisms.
Reward Mechanism
Event and Competition Rewards
Description
Users can earn PetToken rewards by participating in pet talent competitions, metaverse events, etc.
Rewards are automatically distributed via smart contracts to ensure transparency.
Specific Rewards:
Pet Talent Competitions:
Online Weekly Champion: 500 PetTokens.
Offline Grand Champion: 10,000 PetTokens.
Metaverse Events:
Virtual Competition Champion: 200 PetTokens.
Participation Reward: Each participant completing the activity will receive 5 PetTokens.
Distribution Method:
Automatically distributed to user wallets via smart contracts, recorded on the blockchain, and verifiable through blockchain browsers.
Community Contribution Rewards
Description:
Users can earn token rewards by sharing content or interacting in the short video community, health management sections, etc.
The reward mechanism encourages content creation and community participation.
Specific Rewards:
Upload popular short videos: Videos with 100+ likes are rewarded with 10 PetTokens.
Health management sharing: Upload health record videos (e.g., vaccination records) and participate in challenges to earn 5 PetTokens.
Quality Q&A: Answer health questions and receive 10+ likes to earn 5 PetTokens.
Distribution Method:
Weekly calculation of user contributions; rewards are automatically distributed via smart contracts.
Holding Rewards
Description:
Users holding PetTokens can earn periodic rewards, with the reward ratio dynamically adjusted based on staking duration and amount.
Rewards are allocated from the ecosystem development pool to ensure sustainability.
Specific Rewards:
Hold 500 PetTokens for 30 days to receive 10 PetTokens (annualized yield about 24%).
Hold 1,000 PetTokens for 90 days to receive 50 PetTokens (annualized yield about 20%).
Distribution Method:
Monthly automatic distribution via smart contracts, with records stored on the blockchain.
Destruction Mechanism
Transaction Fee Burning
Description:
The platform charges fees from NFT transactions and certain service payments, with part of the fee used for token burning.
The burning mechanism is executed through smart contracts, ensuring openness and transparency.
Specific Burning:
NFT Transaction Fee: A 2.5% transaction fee is charged for each trade, 50% of which is used for burning (Example: 1,500 PetToken transaction, 18.75 PetToken burned).
Service Payment Fee: 10% service fee charged for payments in veterinary consultations, metaverse events, etc., 30% of which is used for burning (Example: 50 PetToken consultation fee, 1.5 PetToken burned).
Burning Frequency:
Burning is executed quarterly, with the burning amount calculated and published via smart contract.
An estimated 10,000-20,000 PetToken will be burned quarterly (based on transaction and service usage volumes).
Special Event Burning
Description:
The platform holds regular burning events (e.g., "Anniversary Burning"), burning tokens from the ecosystem development pool.
Burning events are combined with community voting to enhance user engagement.
Burning Frequency:
1-2 times per year, determined based on platform development and community voting. Destruction records are stored on-chain, and users can verify them through blockchain explorers.
Airdrop Incentives
New User Airdrop
Description:
New registered users who complete identity verification and their first task will receive a PetToken token airdrop.
The airdrop aims to attract new users to the platform.
Specific airdrop:
Register and complete KYC verification: Receive 5 PetToken.
First task (e.g., uploading a pet profile or watching a short video): Receive an additional 5 PetToken.
Total: Each new user receives 10 PetToken. An estimated 50,000 PetToken will be distributed (5,000 new users) in Q3 2025.
Distribution Method:
Automatically distributed via smart contract; users must claim manually after completing tasks.
Active User Airdrop
Description:
Regular airdrops for active users to reward high engagement.
Activity is based on user interaction on the platform (e.g., voting, transactions, content creation).
Specific airdrop:
Monthly active users: The top 1,000 users each month (based on interaction points) will receive 20 PetToken each.
An estimated 60,000 PetToken will be distributed in Q3 2025 (3 months, 1,000 users/month).
Distribution Method:
Activity is calculated monthly; tokens are automatically distributed via smart contract and recorded on the blockchain.
Community Event Airdrop
Description:
Airdrops distributed during specific events (e.g., anniversaries, holidays) to encourage user participation.
Airdrops tied to event tasks to increase user interaction.
Specific airdrop:
Anniversary celebration event on May 27, 2025: Users participate in the "Pet Talent Challenge" and complete tasks (upload videos, invite friends) to receive 10 PetTokens each.
Estimated distribution of 30,000 PetTokens (3,000 users participating).
Distribution method:
Distributed via smart contract after the event ends; users must complete tasks to claim rewards.
Summary of the Token Economy Model
Token Demand:
Service payments, NFT minting, community interaction, and holding privileges increase the demand for PetToken, with an estimated quarterly consumption of 100,000+ PetToken.
Token Circulation:
Rewards and airdrops are expected to distribute 150,000+ PetToken per quarter, driving token circulation through trades and service payments.
Token Scarcity:
The burn mechanism reduces 10,000-20,000 PetToken quarterly, enhancing long-term token scarcity.
User Incentives:
Through rewards, airdrops, and privilege mechanisms, users are incentivized to participate, boosting community engagement.
Technical Support
Blockchain Technology:
Tokens are based on the Solana blockchain, compliant with the SPL standard, with transparent transactions and records.
Burning, airdrops, and rewards are executed through smart contracts, with open-source code subject to community audits.
Wallet Integration:
Users need to connect a Solana-compatible wallet (e.g., Phantom) to use tokens. The platform provides a wallet connection tutorial.
Data Transparency:
All token transactions, burns, and airdrop records are recorded on-chain, and users can verify them via Solscan.
Expected Outcome
User Growth: Airdrop and reward mechanisms are expected to add 10,000+ new users by Q4 2025.
Token Circulation: Drives circulation of 250,000+ PetTokens per quarter (payments + rewards + airdrops).
Value Enhancement: Burning mechanism reduces supply, supporting long-term token value growth.
Community Engagement: Incentive mechanisms boost user participation, enhancing platform ecosystem vitality.
Example Scenario
User Alice registers on May 27, 2025, completes KYC and the first task, and receives an airdrop of 10 PetToken.
Alice uses 50 PetToken to book a veterinary consultation. The platform charges a fee of 5 PetToken, of which 1.5 PetToken is burned.
Alice holds 200 PetTokens for one week, gaining the privilege of free access to advanced scenes in the metaverse and receiving a staking reward of 5 PetToken.
Alice participates in the anniversary celebration event, completes tasks to receive an airdrop of 10 PetToken, and uses 100 PetToken to purchase an NFT item. After the transaction, the platform burns a fee of 1.25 PetToken.
The PetToken token sector has built a healthy token economic ecosystem through a wide range of application scenarios, reward mechanisms, destruction strategies and incentive airdrops. The practicality, scarcity and user incentive mechanism of tokens complement each other, promoting the long-term development of platform user growth, community activity and token value. Blockchain technology ensures that all operations are transparent and fair, providing users with a trustworthy experience.
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