Apr 11, 2022
Game X Change — LP Token Ecosystem & Vault Upgrades Education
Vault Upgrade, Vault Upgrade, Vault Upgrade 🔥!
Before we tackle Vault upgrades let us understand the basics.
what is a “LP” or a liquidity token?🤔
Simply, liquidity tokens are special tokens created by DEX platforms when users combine two different token types together and provide those tokens as “liquidity” to that token market. ELI10: When you support a token by providing liquidity you combine two tokens of the same value to receive a new token called LP tokens.
In the case of the Game X Change ecosystem when you pair two tokens together and provide the liquidity you will receive that pair's LP token.
In the example above, if you pair GXP + BNB you will receive 50.72 GXP/BNB LP tokens (they will show up as APE-LP tokens since Game X Change has partnered with Apeswap DEX to use their router).
Now what do I do with these LP tokens?
If you hold GXP/BNB LP tokens you can use those to purchase NFTs and NFP (Non fungible passes) from the Game X Change Marketplace .
If you hold GXG/BNB LP tokens you can use those to upgrade your specific Game Vault.
What are Vault upgrades?🤔
Vault Upgrades allow users who progress to upgrade their game vaults to unlock higher rewards and earn more tokens per day.
What do I need to do to upgrade?🧐
There are 3 requirements in order to successfully upgrade your vault:
✅Users must make at least 8 (24hr daily) game to platform exports in order to unlock the ability to upgrade their game vault.
✅Empty Your Vault Prior to upgrading by making a full on-chain transaction to GXG.
✅Hold the required GXG/BNB LP tokens.
Once you have done so you will be able to upgrade.
How Do I Upgrade?
Please watch this quick guide on upgrading your Vault.
Do I have to upgrade?🧐
Each vault will only be able to export a maximum of 12 (24hr) daily exports before it will no longer be able to provide rewards. If you do not upgrade your vault on each level you will not be able to continue earning.
Where can I see expected Rewards?🤔
View expected rewards in our Whitepaper:
https://gamexchange.gitbook.io/game-x-change/game-x-change-season-1/season-1-game-details
About Game X Change
Game X Change is a gaming platform where users can move assets (virtual cash and NFTs) from one platform, game, or blockchain to another, in a safe and controlled way. Play & earn and convert in-game currencies and NFTs from game to game! Game X Change offers rewards for playing, earning, and farming across the platform through its native utility token, $GXP. Through the use of Game X Change’s technology solutions stack, developers are provided with a full suite of tools to innovate and integrate both legacy and blockchain games. Game X Change is the future of game asset exchange.
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