Lite Step token economy includes staking, locks, liquidity incentives, buy backs, and burns. These are driven by demand drawn by both gameplay perks and value drawn from the game economy.
LITE tokens are the governance token. These benefit from ecosystem fees. LITE tokens are the in-game token. LITE tokens are used to buy SNEAKs and are earned from running while staking a SNEAK.
1.1 Micro-transaction:
non-Sneak purchases such as map styles, character skins, Sneak skins, skins, etc. Purchase in credit cards or crypto from the shop.
2.1 NFT Marketplace:
A 2.5% fee applies on all NFT trades on the in-app NFT marketplace.
2.2 NFT Sales:
Limited edition Sneaks are issued once a month.
1.2 Staked Play:
Players can run against friends or match up against others. These competition runs can be done with staked governance tokens. 2.5% fee applies on the winning pool.
1.3 Tournament Gaming:
Players can compete their step count on a global and regional leaderboard. Tournament wins unlock unique skins and get a dedicated leaderboard. Participation in the tournament requires a ticket, purchases of which feed a prize pool, with the game taking 5% of all accrued ticket fees.
Game Economy
1.Play Income
2. NFT Income
LITE Token Value from Game Economy
1. Buy-backs: 50% of play income is used to buy tokens on the market.
2. Burns: governance can vote to burn up to 50% of bought back tokens.
3. Staking Rewards: up to 50% of market bought tokens are distributed to stakers.
4. Locks: Staked tokens require a 10-day cooldown for exiting, and bypassing this cooldown carries a 12% fee on the principal stake.
5. Liquidity Incentives: LP tokens get a 50% higher weight in staking rewards.
Token Value in App
1. Staking: staking tokens and LP tokens unlocks certain SNEAK and Avatar skins. Avatars are visible on the leaderboard, to friends, and on the public map.
2. Discounts: 2.5% royalty fee is charged on the trades of game NFTs, i.e. skins. This fee is discounted to 2% if the player is staking a minimum amount of game tokens.
3. Buy-backs: 50% of NFT trading fees are bought back on the market, which the DAO may vote to burn.
4. Staking Yield: Up to 50% of NFT trading fees are available as staking rewards.
lite token value from game economy
1. Minting: SNEAKs can be minted only with LITE tokens.
2. Earn: Running while staking SNEAK NFTs earns LITE.
3. Staking: All SNEAKs must be staked to earn LITE. The earned LITE is issued in epochs of 10 days. Unstaking before the LITE is claimed burns the pending LITE.
Token Distribution
30% — 1,500,000,000
Mining, Move to Earn
15% — 750,000,000
20% — 1,000,000,000
Staking, Liquidity, MM&Incentives
15% — 750,000,000
Marketing, Acquisitions, & Licenses
6% — 300,000,000
Partners, Advisors, & Consultants
14% — 700,000,000
Public Sale
100% — 5,000,000,000
Total 100% — 5,000,000,000