Pegaxy to Introduce New Burn Mechanism to the Game
Pegaxy is experiencing reduced gaming activities and a fall in token price, but the burn mechanism is an approach to stabilize the economy.
The New Burn Mechanism
Pegaxy is taking concrete steps to solve the problem of the oversupply of VIS tokens and the creation of low-value Pega NFTs. The blockchain-based game announced this development on Twitter, saying it will be introducing a new burn mechanism to revive its economy.
Pegaxy made recent moves to revive interest in the game by allowing for the creation of new Crowned Pega, color changes, and consumables capable of burning all the VIS supply. Also, players can fuse Pega, reducing the number of NFTs available. The upcoming burn mechanism will also support the drive to economic stability since VIS will be moved off-chain as a locked asset. The game team is also working on rejigging the deposit and withdrawal processes.
Pegaxy Economy is Experiencing Downslide
However, gaming activities in Pegaxy continue to reduce as it keeps recording under 1000 players daily, down from a few thousand players per day. The game was a top-ranking game but is almost getting out of the top 30 apps on the Polygon network. There are many reasons for the meltdown, one of which is the new form of Pledge Racing which is quite difficult for players. The game must work on an optimum VIS deposit and a better level of energy to be spent on the races.
Another reason is the new tweak which was meant to control the amount of VIS issued. But unfortunately, it is making players give up, and some have destroyed their NFT by sending it to a burn address. Pega breeding has stopped because there are too many, capping at 1.12M Pega with no floor price. However, rare Pega exists, and players with them can win pledge races. Race rewards are currently low as PGX is at $0.008 and VIS is at 0.0001.