Popular play-to-earn gaming guild, identified as Yield Guild Games (YGG) has launched new set of vaults. The gaming project announced the development in its Monday blog post. According to YGG, the creation of the new vaults manifested as part of its program to deliver value to its community while increasing their exposure to YGG’s partnered games.
Further, the gaming project said its members with a Guild Badge can now stake their YGG tokens on the Polygon Reward Vaults made available at the YGG dapp. According to the announcement, it aims to make the rewards for the vaults available by February 12, 2023.
YGG to offer two new vaults
Worth noting, YGG intends to offer two new vaults for the community to stake into. These include League of Kingdoms (LOKA rewards) and Thetan Arena (THG rewards). According to the gaming project, LOKA runs as the governance token of League of Kingdoms, allowing players to propose and vote on governance proposals. With this, players determine future features, policies, content, or parameters of the platform.
Also, players tend to use the token to unlock NFTs and buy additional items and cosmetics within the game. It added that players become eligible to earn a bridged version of LOKA on Polygon by in this vault. Also, they can bridge back the token to Ethereum when participants feel it is fit to do so.
THG, on the other hand, runs as a governance and utility token. YGG says it can be used as a medium of exchange between participants of the Thetan Arena ecosystem. More so, THG enables holders to create and vote on proposals made to the game. Notably, participation in THG staking allows members to lock their YGG token to generate additional rewards and certain benefits.
Also, THG runs on the Binance Smart Chain (BSC). YGG says it has opted for a StakeDrop Vault to allow members stake YGG on Polygon. This thus allow stakers to accumulate non-transferable “points” in the form of a token, representing a staking credit. Further, the project said the StakeDrop mechanism allows users to qualify for a THG airdrop of reward tokens based on the points earned from their staking activities.
YGG outlines requirements for intending participants
Remarkably, the protocol outlined numerous requirements for users to qualify to participate in the reward vaults. First, the protocol said intending participants must possess existing YGG Guild Badge. More so, it says they must possess sufficient ETH tokens to cover two transaction fees. Also, they must have YGG tokens on the Polygon network as well as MATIC to pay for transactions.