Pegaxy will boost the usage of PGX tokens after building a new governance platform. The Themis voting mechanism will put decisions about the game in the hands of the community and PGX owners.
The decision arrives at a time when Pegaxy is seen as a problem game, due to the oversupply of playable Pegas and reward tokens. Now, the game may be facing a decisive time to estimate whether the community could vote in a way to rebalance VIS rewards.
Pegaxy has the advantage of being one of the P2E games with the most readily available payout elements. The game is straightforward, with simulated competitions of 15 Pegas NFT playable horses. The outcome of the competition and the VIS reward depends on the statistics of the Pegas and not on skilled gameplay.
Pegaxy Tokenomics Calls for Rebalancing
This is one of the reasons that VIS has constantly fallen to new lows. In just a week, VIS lost more than 50% of its value, down from $0.017 to $0.005, with no end of the slide in sight.
At the same time, statistics show more than 18K players on Pegaxy each day. Even at a low price, bot gameplays can still strip-mine the game and achieve some earnings.
PGX, the voting token, has stabilized around $0.17, still a significant loss from a peak near $1. But PGX is not pressured by selling and overproduction.
Pega playable NFTs are also constantly increasing their number, with a floor price gradually sliding to 0.013 ETH, with the average sale price also falling from 0.065 ETH at the beginning of March down to 0.017 ETH.
The above token factors still point out that Pegaxy is a game in need of urgent rebalancing. So far, the team has taken only limited measures in tweaking VIS rewards.
But for some, the current game conditions are suitable to acquire assets at a low price, ahead of the game’s upcoming roadmap events.
Pegaxy plans to release a skills-based game in Q3, with a mobile version coming by mid-2022. The new gameplay may have a chance at rebalancing the reward system and avoiding bots.