Binance shared last Friday, November 26, through its Twitter account, the details about its recent listing: $PYR, from Vulcan Forged. According to the company, it is a game studio dedicated to NFT games created on Ethereum, Polygon and recently expanded to Binance Smart Chain.
“Vulcan Forged is a game studio dedicated to NFT games built on Ethereum, Polygon and recently expanded to BSC. Among its series of games on the platform, VulcanVerse and Berserk are the 2 main games of the project. PYR is its native utility token, which allows users to buy NFT in the gaming market, participate in bets and pay academic registration fees”, he said through an article published on his website.
PYR is the native utility token of the Vulcan Forged ecosystem and has the following use cases:
• NFT Buying and Selling – Users can buy and sell NFT and game items using PYR on the Vulcan Forged Marketplace.
• Staking – Users can stake PYR to upgrade their Land NFTs in-game, which will increase the performance of staking rewards (paid in LAVA tokens).
• Liquidity Mining – Users can contribute to liquidity pools on VulcanDEX to earn liquidity rewards and a portion of DEX transaction fees.
• Scholarship Enrollment Fee: For users to be able to rent NFT as Scholars, they must use PYR to pay the Scholarship Enrollment Fee.
Vulcan Forged consists of the following main components that work together:
• LAVA tokens: it is the secondary token within the Vulcan Forged ecosystem and has the following use cases:
• Play to Win: Users win LAVA by betting PYR and playing Vulcan Forged games.
• In-game Currency – Users will need LAVA to pay for in-game transactions (ie upgrade NFT, build on land).
• VulcanDEX: users can provide liquidity, participation and exchange LAVA tokens for PYR through the DEX of the platform.
• Vulcan Market – Users can buy and sell NFT on the Vulcan Forged Market.
Furthermore, the company detailed that as of November 26, 2021, the total and maximum supply of PYR is 50,000,000 and the current circulating supply is 18,997,700 (~ 38.00% of the total supply of tokens).