What IsCOINARY (CYT)?

COINARY (CYT) is a token used in the Dragonary game, for its in-game transactions. The token uses BEP-20 standards based on Binance Smart Chain. The coinary marketplace is where other cryptocurrencies are converted into CYT and provided to the wallet of the players. The entire game economy is defined by the users of the game.

The Dragonary game is a play-to-earn game and rewards its users for just participating in the game. The game utilizes the functionality of blockchain to create an engaging gameplay experience for the players. The game has multiple gaming modes like PvE (players vs. environment) or PvP (player vs. player). The in-game activities allow the users to farm CYT tokens and items, which in turn let the users advance their in-game progress.

As per whitepaper, the coinary aims to beat inflation and therefore has limited supply. Every in-game transaction and breeding commission seeks to result in an 80% token burning, and the remaining 20% is to be allocated to the players. The system also aims to ensure that the coin stays deflationary. Burning is the process of removing coins from circulation by sending them to inaccessible wallet addresses, thereby increasing the value of the token.

CYT token is the main currency, and the players are to be rewarded by holding and staking the coin. The mining process of CYT is similar to GPU mining. The better the GPU, the better the rewards. Similarly, the more advanced dragons the user has in the game, the more CYT tokens the user can mine. Moreover, the users can get rewards by staking the tokens as well. The rewards the user receives are a percentage of the total number of tokens the user stakes. The staking allows the user to participate in the whitelist and could also be a key piece for events and prize draws.

History of COINARY (CYT)

Alejo Chababo is the CEO and cofounder of coinary (CYT). CYT has a maximum total supply of 1 billion tokens.