The majority of the ~5 billion internet users worldwide go online using mobile phones, and over 3.2 billion of those users play video games. This suggests that the mass adoption of blockchain will benefit powerfully from products that include mobile and game components.
The PRIMATE Token leverages Benji Bananas, a successful mobile game with a daily active player base of 70,000 unique players at the time of writing. The goal of the PRIMATE Token project is to connect the Benji Bananas player base with the possibilities of Web3, introducing thousands of new users to the cryptoverse every month.
Like any fungible token, PRIMATE is only part of the Web3 experience. In order to earn PRIMATE, players must obtain a Benji Bananas Membership Pass NFT, which is necessary to use Benji Bananas’ play-to-earn system.
PRIMATE is the core of the play-to-earn system being added to Benji Bananas. Players will be able to earn PRIMATE Tokens when playing the game, and these tokens will be swappable for other fungible tokens in the Animoca Brands ecosystem (including SAND, REVV, TOWER, GMEE, QUIDD, PROS, and BONDLY). The core utility on launch for PRIMATE is the swap function, pairing this asset with other liquid ERC-20 tokens.
The main PRIMATE pairing will be with ApeCoin [APE], the ERC-20 token issued by ApeCoin DAO and used by the ecosystems created by Yuga Labs and the Bored Ape Yacht Club. The depth of the PRIMATE/APE pool is determined by primary purchases of the Benji Bananas Membership Pass.
Supply and Tokenomics
The total supply of PRIMATE is 2,060,000,000 tokens, all of which are minted at once, and released only through two specific systems: the Play-to-Earn Pool and Liquidity Allocation, and a Reserve Treasury and Marketing Allocation. All of the tokens will be minted directly to the four allocations below. The tokens in the Reserve Treasury are moved to the other allocations as required.
- Play-to-Earn: 235,000,000
- Liquidity: 625,000,000
- Treasury: 1,000,000,000
- Marketing: 200,000,000
Play-to-Earn
When a Benji Bananas Membership Pass sale is effected, an equivalent amount of PRIMATE is moved from the Reserve Treasury to the Liquidity Allocation, and an equivalent amount is sent to the Play-to-Earn Allocation. It is this Play-to-Earn Allocation of PRIMATE that will be earned by players, with this pool increasing with every primary sale of Benji Bananas Membership Passes.
Liquidity Allocation
An allocation of PRIMATE is made available for each Benji Bananas Membership Pass sale and Play-to-Earn event cycle. Event cycles are the time between the current Membership Pass sale and the next Membership Pass sale. During this period there will be Earning Events to allow Membership Pass holders to earn PRIMATE Tokens.
Membership Passes are purchased using APE, and the APE received in this manner serves as the foundation for the APE/PRIMATE pool on SushiSwap. With each sale, an equivalent amount of PRIMATE is moved from the Reserve Treasury to Liquidity Allocation. This Liquidity Allocation is then used to set up a pair, or add liquidity post the initial creation of the pool.
Reserve Treasury
The Reserve Treasury is where all of the supply of PRIMATE is held until it is needed for liquidity pool set-up or adding, or for the distribution of Play-to-Earn rewards. After the initial minting of PRIMATE, funds are never added back to the Reserve Treasury.
Marketing Allocation
An allocation of PRIMATE is made available for marketing and community-building events and activities. This allocation will be used to reach and engage the active community, broaden the exposure of Benji Bananas and PRIMATE token and grow organic engagement and exposure.
