Faraland officially announced: The 12th of every month, starting from September 12, 2021, will be the monthly fixed date of burning Fara.
What is Token Burn?
Token burn is an operation to destroy a number of Tokens in order to reduce the total supply of Tokens existing in the Faraland system. The amount of Burned Tokens will not belong to any account but will be lost forever.
- Fara token burn is not a form of tax or fee. Faraland team does not gain benefit Tokens from this activity.
- Burn Fara Token to serve the interests of the community, limit or prevent actions that harm the system, and ensure the Fara ecosystem is healthy.
- Token burn is to keep the value of the Token because the Token is born and accumulates over time.
Therefore, Faraland officially announced: Starting from September 12, 2021, the 12th of each month will be the fixed monthly date for burning Fara.
Our goal is to balance the game, reduce total supply, and create scarcity to increase the value of the Fara token.
Fara’s token burn rate
As previously announced, some transactions in the Fara ecosystem such as gacha, marketplace, equipment upgrades, .. will incur a fee. The Fara fee is distributed as follows:
Part 1: 75% of this FARA token amount will be used for game-incentive
Part 2: 10% of this FARA token amount will be used for game development
Part 3: 5% of this FARA token amount will be used for burning
Part 4: 10% of this FARA token amount will be used for staking reward
5% of FARA from Gacha and Market fee will be used for burning.
Stay tuned for the latest news from us!
What is Faraland
Faraland is a role-playing strategy wargame for Android and iOS, developed on blockchain by MoonKnight Labs, a company based in Vietnam. The players control the characters of 7 races: Humans, Orcs, Elves, Fairies, Dragonborns, Angels, and Demons — each with different abilities, strengths, intelligence, and agility, to fight with other players in a universe called Faraland. The game will be released in Q4 2021, and the NFT heroes sale will be launched on May 29, 2021.
Faraland is an innovation project combining NFT technology and gaming experience. Not only are all exquisitely digital collectibles created using blockchain technology, but all NFT in Faraland can also be integrated into Faraland games later, which will help them increase the value. NFT is the soul of this project. Each Hero, NFT of Faraland, is unique. Each collectible is matchless, genuine, and varies in rarity. Faraland Universe has many different races like human, orc, angel, demon, Dragonborn, elf, and fairy, awaiting the users to discover.
Faraland is different compared to other NFT projects where NFT is solely used for collection. With many exciting gaming activities, Faraland’s users can use their NFT heroes in many unique ways, from equipping them with powerful weapons or shining armors to engaging them in various thrilling battles. It’s a solid and exciting game with a fundamental and engaging storyline. We also focus on the “play to earn” mechanism, making Faraland far beyond a regular game. A variety of options are also available for users, including reinvesting in the game, making your heroes stronger, or cashing out. Our vision is to make Faraland a “dream job” by providing players worldwide opportunities to generate regular income from the project.