Riot Racers Whitepaper
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DRIVERS
Ownable Game Assets
Version November 3 2021
RIOT Game Token
$RIOT is the native game currency that powers the Riot Metaverse, Riot Racers, and upcoming games Riot Rampage and Riot Rush. It allows players to buy game assets, pay for actions in the game, claim rewards, get rewards for staking, and participate in the Council of Racers. For ease of understanding, prices in the game will be quoted in USD, but paid in $RIOT. This will allow players to focus on the game and not worry about potential fluctuations in the price of $RIOT.
The RIOT Economy
Only 250,000,000 $RIOT tokens will be minted.
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Allocation Type
%
Amount
Play to Earn / Game Rewards
45%
112,500,000
Reserve
25%
62,500,000
Team
20%
50,000,000
Operations
5%
12,500,000
Player Incentives
5%
12,500,000
​
Token Economics
The RIOT token is designed and intended to be a utility governance token. It is soley intended to be the currency inside the Riot Metaverse and games. The token is not an investment and no amount of the token supply will be sold to investors or for investment purposes, as seen above in the allocation table. RIOT is a fungible ERC-20 token and was created by deploying a widely used standard smart contract on the Ethereum blockchain. To be used, RIOT must be bridged to the Polygon network (a 2nd layer chain to Ethereum). Polygon is in common and increasingly high use by blockchain games and DeFi projects. Payments may also be made using RIOT on the ETH mainnet.
Token Flow
The RIOT token is designed to flow in and out of the Riot Metaverse and games and the community. Players buy the token in order to make purchases in the Metaverse and play in the games. Purchases can include game assets (like cars and land), and upgrades. Players also win the token as rewards when they win races in Riot Racers, or prizes in the other games. Eventually the intention is for all game asset drops to be purchased in RIOT Tokens. However, to prevent barriers to start playing, this will happen after the token is relatively easy to acquire and sell on a decentralized exchange.
The RIOT token and its use is designed to promote the play of the game, which results in increased use of the token and the game assets. The more the game is played, the more tokens are used. This results in a larger number of tokens won. The more the players win, the more they will want to play the game and acquire game assets. This brings the token flow full circle.
Special attention was made to ensure the token had as much balance as possible between the in-flow and out-flow. The desired outcome here is that there is not more demand to buy the token than to sell it, or vice versa.
The ecosystem was designed to have demand to purchase the token in order for players to play the game by entering races, buying Metaverse and game assets, and game upgrades. Rewards in the games can be increased or decreased to change the supply of the token that is being sold. Players are incentivized to hold the token in order to use it to buy Metaverse and game assets, or upgrades.
Other incentives were designed to encourage players to hold the token and not sell. The first is a staking program that rewards players with more tokens for holding tokens for at least week long periods. The second is the Council of Racers, a DAO like system that allows holders of the token to influence decisions made about the game. This allows players to have a say in the future of the game and how it operates. The larger the amount of tokens held, the larger amount of influence the player has, as one token equals one vote.
The goal is to build a system that leads to a steady increase in new players coming in to the game and incentivize current players to continue playing the game and interacting in the ecosystem. The longer a player continues in the game, the more they earn, incentivizing them to continue playing.
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