Game Theory Concepts

Overview:

"The Battlefield" acts as a simple NFT escrow solution which will pay out $LGNDX immediately from the Battlefield when a user chooses to swap their NFT for the $LGNDX token.

When the user wishes to purchase an NFT the Battlefield, they can do so at any time by paying the "Ransom" amount back to the Battlefield in the $LGNDX token. ANY USER IS ABLE TO PAY THE RANSOM AND PURCHASE ANY NFT THEY WOULD LIKE TO OUT OF THE BATTLEFIELD AT ANY TIME. This means if there is a super rare NFT in the Battlefield that another user had already claimed the tokens for, that a different user can come and purchase that same NFT for the "liquid floor price" from the Battlefield, further enhancing the game theory of the protocol. 🔥 3% of $LGNDX from both Bounty Claims and Ransom Payments is burned forever. 🔥

IMPORTANT: $LGNDX BOUNTY AMOUNT = $LGNDX RANSOM AMOUNT (+3% Premium)

The premium amount while paying back the ransom ensures that there will always be enough liquid $LGNDX available in the Battlefield to account for each NFT in circulation after the 3% burn takes place. For example: A user wants to pay the ransom for (purchase) a Fire Breather NFT from the Battlefield and pay the ransom to become the proud new owner: The user would pay the ransom of 599,541.12 plus the premium of 17,986.23 (3%) $LGNDX for a total of 617,527.35 $LGNDX tokens to be transferred to the contract. The contract will then burn 17,986.23 $LGNDX (3%) of the original bounty amount, ensuring that exactly 599,541.12 tokens are returned to the Battlefield.

Game Theory Ideas for Consideration:

As more Titan Legends NFTs are sent to "The Battlefield," they become scarcer on the market, potentially influencing the floor price of the NFT. For instance, if a user sells their $LGNDX tokens and opts not to retrieve back the NFT, it remains in battle until another user opts to pay the Ransom (purchase) the NFT, effectively removing it from circulation until that time and making the collection hyper-deflationary in nature.
Each Titan Legend sold on the secondary market comes with an attached bounty and essentially gives each NFT a liquid value. Therefore, as the price of the $LGNDX token increases, the "liquid floor price" of the Titan Legend NFT will rise in tandem. Given that the $LGNDX token is paired with $TITANX for its main Liquidity Pool, $LGNDX price performance could correlate with the price performance of TitanX.
Because not every Titan Legend NFT holder will claim the bounty, a significant portion of the $LGNDX supply could remain locked, maintaining a low circulating supply of the $LGNDX token. This reduction in circulating supply may lead to a supply shock, potentially influencing token price.
The two-way escrow mechanism presents a perpetual arbitrage opportunity because the $LGNDX token price is linked with the value of NFT(s). For example, if an NFT's floor price falls beneath the bounty value set in $LGNDX tokens, a user could buy the NFT from a secondary marketplace at a given price, claim the bounty, and then sell the acquired $LGNDX tokens on Uniswap for a quick gain. Even when users claim the bounty for the NFT and sell their tokens on the market, it still contributes to a positive feedback loop for the Titan Legends ecosystem because it not only removes the NFT from circulation and increases the collections rarity, but also burns the $LGNDX token, making it rarer over time.

These are just a few possibilities of what might unfold once the token and escrow swap contract go live. We'll leave the rest to speculation and open for further discussion.

Disclaimer: Coding and cryptocurrency are complex endeavors, and we are fortunate that any of this code functions as intended. This NFT project operates in the volatile crypto space, where values can fluctuate, and investments may incur losses. Titan Legends NFTs are created for artistic and community engagement purposes on Ethereum within the TITAN X ecosystem. We emphasize that there's no guaranteed profit, and participants should not expect financial gains based on the efforts of others. Please be aware of the inherent risks, and only engage if you understand and accept the potential for value fluctuations based on market demand.

Please note that this whitepaper is subject to change at any time. We reserve the right to update or modify the content, information, or strategies outlined within this document as deemed necessary to reflect evolving circumstances, technological advancements, or regulatory requirements. Any revisions or amendments will be communicated transparently to our community.

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Last updated 3 months ago

Overview:

"The Battlefield" acts as a simple NFT escrow solution which will pay out $LGNDX immediately from the Battlefield when a user chooses to swap their NFT for the $LGNDX token.

IMPORTANT: $LGNDX BOUNTY AMOUNT = $LGNDX RANSOM AMOUNT (+3% Premium)

Game Theory Ideas for Consideration:

As more Titan Legends NFTs are sent to "The Battlefield," they become scarcer on the market, potentially influencing the floor price of the NFT. For instance, if a user sells their $LGNDX tokens and opts not to retrieve back the NFT, it remains in battle until another user opts to pay the Ransom (purchase) the NFT, effectively removing it from circulation until that time and making the collection hyper-deflationary in nature.

Each Titan Legend sold on the secondary market comes with an attached bounty and essentially gives each NFT a liquid value. Therefore, as the price of the $LGNDX token increases, the "liquid floor price" of the Titan Legend NFT will rise in tandem. Given that the $LGNDX token is paired with $TITANX for its main Liquidity Pool, $LGNDX price performance could correlate with the price performance of TitanX.

Because not every Titan Legend NFT holder will claim the bounty, a significant portion of the $LGNDX supply could remain locked, maintaining a low circulating supply of the $LGNDX token. This reduction in circulating supply may lead to a supply shock, potentially influencing token price.

The two-way escrow mechanism presents a perpetual arbitrage opportunity because the $LGNDX token price is linked with the value of NFT(s). For example, if an NFT's floor price falls beneath the bounty value set in $LGNDX tokens, a user could buy the NFT from a secondary marketplace at a given price, claim the bounty, and then sell the acquired $LGNDX tokens on Uniswap for a quick gain. Even when users claim the bounty for the NFT and sell their tokens on the market, it still contributes to a positive feedback loop for the Titan Legends ecosystem because it not only removes the NFT from circulation and increases the collections rarity, but also burns the $LGNDX token, making it rarer over time.

These are just a few possibilities of what might unfold once the token and escrow swap contract go live. We'll leave the rest to speculation and open for further discussion.