Cosmic Champs Added New Utility for COSG
The Cosmic Champs has added new utility governance token, Cosmic Gold to provide amazing new benefits for COSG holders in 2023, including collaborating with the runner-up at Decipher’s Pitch Event, Cometa.
TL;DR
They introduce four reward tiers for holders of COSG. Each tier will receive monthly benefits for holding the required amount of tokens for the entire month. Benefits include tokens for future shuffles, entry to NFT lotteries, in-game boosts to Champs, free battle passes, and tokens for future planet sales.
The Rewards
Rewards are earned each month by holding COSG for a full month. There are common rewards that all tiers receive and also exclusive rewards that only higher tiers receive.
The common rewards are tokens to participate in future NFT shuffles, tickets for monthly NFT lotteries, and in-game boosts to the stats of Champs.
Each tier also receives a special upgrade to the appearance of their battle dashboard. The upgrade indicates which tier you are a member of.
Tier’s 2 to 4 also have exclusive benefits such as free battle passes and tokens to access planet NFT sales, and the right to purchase a single NFT of your choice from the treasury each month (excluding season 1). The listed rewards will be effective from 1st January 2023. The rewards may change from time to time.
If you want to be eligible for the first reward payout (from 1st February 2023) make sure you have the following quantities of COSG either in your wallet, or in the Cometa staking pool, from 1 January to 1 February 2023. Just to reiterate, your tokens will be counted if they are staked on Cometa so you do not need to remove them the Cometa staking pool to be eligible.
COSG TIERS — UTILITY REWARDS FOR HOLDERS
Tier 1 — Bronze
Requirement: 7,000 COSG
Rewards:
Bronze Rock NFT each month
- 1 token for any future NFT public shuffle
- 1 ticket for the monthly NFT lottery
- +1 in-game base stats of all champs
- Bronze dashboard unlock
Tier 2 — Silver
Requirement: 25,000 COSG
Rewards:
Silver Rock NFT each month
- 4 tokens for any future NFT shuffle
- 4 tickets for the monthly NFT lottery (5 total)
- +2 in-game base stats of all champs
- Silver dashboard unlock
- Free battle pass (future)
Tier 3 — Gold
Requirement: 60,000 COSG
Rewards:
Gold Rock NFT each month
- 10 tokens for any future NFT champ public shuffles
- 10 tickets for the monthly NFT lottery
- +3 in-game base stats of all champs
- Gold dashboard unlock
- Free battle pass (future)
- 1 token for planet NFT sales
Tier 4 — Diamond
Requirement: 150,000 COSG
Rewards:
Diamond Rock NFT each month
- 25 tokens for any future NFT champ public shuffles
- 25 tickets for the monthly NFT lottery
- +4 in-game base stats of all champs
- Diamond dashboard unlock
- Free battle pass (future)
- 3 tokens for planet NFT sales
- Each month, your choice to purchase any single NFT from the treasury (excluding season 1)
- Private chat with founders
The Process
A snapshot of COSG holders will be taken on the first of each month. The snapshots will capture tokens held in your wallet and tokens staked in a Cometa distribution pool.
Currently, they have different benefits planned for LP providers so they are excluded for now, but they may revisit this decision in the future.
Eligibility for monthly tier rewards is determined by two snapshots taken one month apart. Anyone who is holding the required amount of COSG to qualify for tier rewards when both snapshots are taken will receive rewards.
Each snapshot is taken on the 1st of each month. For example, if you have 8,000 COSG staked on Cometa when the snapshot is taken on the 1st of January and your tokens are still in the staking pool when the next snapshot is taken on the 1st February then you qualify for the Bronze tier and will receive the associated rewards. You will qualify for the tier that your COSG holding matches at both snapshots. For example, you have 8000 COSG staked on Cometa when the snapshot is taken on 1st January and during the month you add more COSG to the staking pool so when the next snapshot is taken on 1st February you hold 25,000 COSG. In this situation you will qualify for the Bronze tier for the month of January because you had at least 7,000 COSG at both snapshots.
If you maintain your balance of 25,000 COSG when the next snapshot is taken on the 1st of March then you will qualify for the Silver tier for the month of February. If your amount of COSG reduces from 8000 on the 1st of January to 5000 on the 1st of February then you will not qualify for any of the tiers.
In addition, Cosmic Champs might introduce additional snapshots mid-month if we find it necessary. Each wallet may only qualify for one tier during each one-month period. Each wallet will be assigned to the highest tier it qualifies for based on the amount of COSG held.
Rewards will be distributed shortly after the 2nd snapshot is taken to determine holder amounts for each month period. The rewards such as tokens for future NFT shuffles and planet NFT sales do not expire so they can be used for any future NFT shuffle even if you no longer qualify for a tier at the time of the shuffle. Rewards such as battles passes, in-game boost to Champs, and a modified dashboard are valid for a month from when they are distributed.
Each month they will distribute an NFT rock associated with the tier you qualify for. For example, if you qualify for the Gold tier then you will need to opt into the ASA for the Gold Rock NFT before it can be distributed to your wallet. The ASA for the Gold Rock NFT will change each month so each month you qualify you will need to opt your wallet in to receive the benefits associated with your tier. This allows up to provide rewards in-game and also NFT lottery tickets that expire after a month.
The allow list spots for future NFT shuffles and also planet sales will be distributed using tokens. You will need to opt into these ASAs once. The ASA will remain the same each month so you will not need to opt-in again.
There will be a one-week transition period at the end of each month to allow you to prepare for the upcoming reward distribution. During this time, they will announce the new ASAs for the rock NFT associated with each tier. If you fail to opt-in before the distribution of monthly rewards then you will forfeit that month’s rewards. Don’t worry, they’ll remind you so you don’t forget.
What is the monthly NFT lottery?
Each of the tiers is eligible for a different number of tickets in the monthly NFT lottery. The exact prizes of the lottery may change from month to month. Here are the prizes planned for the NFT lottery held at the start of February for holders during January:
10 champ NFTs (season 2)
- 1 epic
- 2 rare
- 7 uncommon
1 ship NFT (season 1)
- 1 rare
How will the NFT lottery work? Since we don’t want to take away too many developer resources from the game development of Cosmic Champs, they probably won’t be writing any smart contracts for this. Instead, they will find the fairest and most fun way of running this lottery and keep you all informed of the final process. It will most likely involve a live stream each month so you can be sure it’s a fair and transparent process.
What is COSG?
Their governance token, Cosmic Gold (COSG), rules the Cosmic Champs metaverse. COSG will be used to earn staking rewards, reward players for using the game (P2E), and buying NFTs. When they transition to a DAO, holders of COSG will steer the ship as they will vote on changes to the game. It will also be used to fuel their creator economy which will reward the community for helping build their metaverse.
The ASA ID for the $COSG token is 571576867. To receive COSG, you’ll need to opt into COSG with your Algorand wallet.
ABOUT COSMIC CHAMPS
Cosmic Champs is a play to earn, tower rush, real time strategy game developed by gaming studio, Mad Shapes. It aims to remove many of the existing barriers of entry for typical P2E games. This means it’s mobile first and no wallet, tokens, or NFTs are required to play. These innovations position Cosmic Champs to become the benchmark for crypto games in GameFi. The game will be available for Android and also iOS devices late in 2022.
SOURCE: MEDIUM
