Space SIP - Whitepaper
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REWARDS
The player receives two types of rewards when they successfully defeat an opponent, $SIP and character experience. The $SIP reward is dependent on the power of the enemy defeated. Experience earned is assigned to the ship that won the battle.
The $SIP and experience earned are stored until the player initiates a transaction to move the $SIP to their wallet and to apply the experience to their characters. This feature has been added to reduce the amount of gas the player requires to play the game.
Claiming $SIP from the rewards pool may subject the player to the Early Withdraw Tax, explained in the section below.
EARLY WITHDRAWAL TAX
There is rate-limit min 200 $SIP - max 1000 $SIP when withdrawing $SIP from in-game wallet to players wallet (Metamask or any compatible wallets)
This withdrawal rate-limit is per transaction, not per day. Players can withdraw multiple-times per day.
Withdraw tax starts at 50%, reducing by 10% per day until it hits 0%.
⁃ Day 1: 50%
⁃ Day 2: 40%
⁃ Day 3: 30%
⁃ Day 4: 20%
⁃ Day 5: 10%
⁃ Day 6: 0%
Withdraw action will NOT reset tax. It means players can withdraw multiple times with 0% tax if players wait until Day 6 when tax is 0%
CLAIM REWARDS
First $SIP claiming requires a Player Account that is 12 days old. This requirement is counted from the 1st date when a Player completes the first PvE mission.
After that, players can claim once every 48 hours.
Claiming $SIP from any activity into in-game wallet will reset the Withdraw Tax to 50%.
SPEND ORDER
Space SIP will prioritize spending $SIP in the following order for minting characters.
- 1.In-game Wallet $SIP
- 2.User Wallet $SIP (i.e Metamask etc.)
If one pool of $SIP is insufficient for the transaction, Space SIP will take $SIP from the next pool in the list above to satisfy the cost.
Last modified 6mo ago
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