What is MATE – Hidden Gold or Just Glitter?

MATE coin, the native asset of Mate, is utilized on a decentralized exchange platform that aims to provide a seamless user experience and minimize trading losses. To avoid unpredictable slippage, Mate employs an Automated Market Maker (AMM) that employs limited orders.

MATE & its Tokenomics

MATE crypto token is a BEP-20 token that operates on the Binance Smart Chain, and it may be significant when analyzing the MATE price.

The tokenomics of MATE is simple, yet diversified., 5% of the token quota is assigned to early investors in the form of token sales, and the tokens will be exchanged for necessary funds and market support in the early stages. The first month will see 12% unlocked, with a linear average release in the following 11 months.

1% is reserved for IDO and public offerings, and 10% for the development team. 8% is for advisors and incubation teams, while 25% is available to those who participate in the game’s ecosystem. Tokens will be unlocked gradually over time.

Official game output tokens consist of 40% pre-social functions, 10% are for leaving, and the remaining tokens will trigger a halving mechanism every 50% reduction. 12% is used for community and publicity support, IP cooperation and Airdrop rewards. Moreover, 5% of the tokens will be unlocked in the first month, with an average release in the next 24 months.

Another 12% is used to improve liquidity and participation of MATE tokens in DEX by cooperating with third-party platforms to produce MATE tokens through staking/LP mining. The first month will see 10% unlocked, with a linear average release in the next 18 months.

A small 2% is reserved for close cooperated projects for partnership and to exchange outside tokens, and it is locked with a 3-month cliff and a 24-month unlock.

The last remaining 25% is reserved for future game output for 12 months, starting to unlock after 12 months with the updates of new game functions.

Token Acquisition and Application Scenarios

In the initial stages, players can participate in official events or obtain a certain number of MATE tokens from the secondary market to meet their game needs. MATE tokens can be used to purchase limited virtual pets, virtual pet development items, and participate in the PLAZA. 

After players have mastered the basics of the Vmates game, they can earn MATE tokens by raising their virtual pets and participating in social games. 

Vmates does not limit the total amount of MATE tokens players can earn from the game. Instead, Vmates encourages all players to find effective ways to generate profits, participate in the construction of the PLAZA, and collaborate to realize the NFT social meta-universe.

Among all the 10 Million MATE tokens officially reserved by Vmates, the reward distribution of tokens follows the permanent halving mechanism. 

When the token distribution in the reward phase reaches 50%, the subsequent reward tokens will be halved and start the next reward stage. Vmates officially sells limited pets, rare virtual pet blind boxes, and all MATE tokens raised by pets, with 5% permanently destroyed to achieve deflation, and disclosed and implemented every month.

Summary

MATE coin is used on a decentralized exchange platform with an Automated Market Maker (AMM) to minimize trading losses. It’s a BEP-20 token on the Binance Smart Chain. MATE tokens can be used to buy virtual pets, pet development items, and participate in PLAZA.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.