Pegaxy (Pegasus Galaxy) is a play-to-earn horse racing game where players compete for top 3 placements. Each race consists of random elemental variables like wind, water, speed, fire, etc. A player has to reach the top 3 positions using strategic upgrades, skills, and food to earn the platform's native utility token, VIS (Vigorus), as a reward. Players in the game can also rent, trade, and breed their horses to earn VIS tokens. As stated in the whitepaper, the network has four different Pega (horses) bloodlines or breeds: Hoz, Campona, Klin, and Zan. 

Pegaxy has a unique ecosystem where players can enter any race without paying any fees. According to this economic model, the game becomes competitive as players participate with 11 other racers to win the top 3 spots. However, the rewards are lucrative. The vision of Pegaxy is to strategically develop the platform so that it becomes the home of horse racing in the metaverse. In addition, Pegaxy provides an ecosystem where users can also play, work, and socialize.

The Pegaxy Metaverse is developed on the Polygon Layer 2 solutions and works on the dual token economic model. A metaverse is a digital reality platform combined with multiple aspects like online gaming, virtual reality, augmented reality, and cryptocurrencies to let users interact virtually. The governance token of the ecosystem is PGX (Pegaxy Stone), and the utility token is VIS (Vigorus).

PGX token is the governance token and utilized for multiple reasons: 

VIS (Vigorus) is the native utility token of the ecosystem. The token is the primary "spending" and "earning" token for the Pegaxy ecosystem. VIS can also be used as the primary token for breeding. However, the breeding amount of VIS depends on the Pega's breed count.

Fabled tokens are ERC20 tokens on the Polygon chain. A user has to refer a person to the Pegaxy platform, and that person has to trade at least one Pega, to earn Fabled tokens. 

The Pegaxy game was cofounded by Ken Pham (CEO), Steve Nguyen (CTO), and Corey Wilton (CMO) in February 2021. The initial sale was held in October 2021. The total supply of PGX tokens is 1,000,000,000 PGX, whereas the total supply of Fabled tokens is 4,000.