Play to Earn Model
Ignite Tournaments’ play-to-earn model is powered by our platform’s utility and governance token, TENKA. Users earn in the following ways by competing in Ignite Tournaments:
- Native Ignite Tournaments NFT prizes generated on-chain for each tournament
- TENKA prize pools, generated from entry fees
- Participation rewards for staked TENKA entry fees
- Sponsored NFTs
- Sponsored TENKA
- 1.When users enter tournaments, they will need to pay an entry fee. This entry fee must be paid in TENKA and will be staked on-chain in a yield-farming prize pool generated for the tournament. The platform will award additional TENKA rewards for all users who have staked the entry fee to participate in the tournament.
- 2.Even if a user is eliminated from the tournament in an earlier round, their staked TENKA will be entitled to participation rewards. While users who are eliminated will lose the value of their initial TENKA stake at the end of the tournament, all users will receive pro rata the amount of new TENKA rewards awarded to the tournament, as a form of a participation reward/rebate.
- 3.Gamers also compete for an NFT which will be generated on-chain for every tournament.
- 4.Gamers optionally may also compete for sponsored TENKA and sponsored NFTs.
- 5.Once the compliance review has occurred, payouts will then be issued in TENKA to winner wallets. The NFT prize will also be distributed.