TOKENS

There are a number of currency tokens used in the Piracy Punks ecosystem, each with a different use case, and way to earn them.

$DOUBLOONS

$DOUBLOONS ($DOUBS) are the utility token for the in game mechanics. $DOUBS are earned by staking your Piracy Punk NFTs. Once your NFTs have been staked you will start to earn $DOUBS in your wallet. $DOUBS are used to buy in-game items required for progression, initially gems, gold & steel which are used for crafting weapons and jewellery.

They are an ERC-20 token and tradeable on decentralised exchanges. Liquidity Pools will be set up at launch and LP providers can accrue incentives and fees for providing liquidity in $WETH / $DOUBS pairs. A 20% tax is levied against all $DOUBS sales, and this tax is passed back to $veDOUBS holders as a reward. Daily APR / yields on $DOUBS are variable based on a number of factors and may be increased or decreased as the game progresses.

$DOUBS can be locked to receive $veDOUBS tokens.

$veDOUBLOONS

$veDOUBLOONS ($veDOUBS) are the governance token for the Piracy Punks Project. They are non-transferable tokens that accrue rewards and are needed to vote on DAO proposals. To receive $veDOUBS, players have to lock some of their liquid $DOUBS for a lock period of between 1 week to 1 year. Users will then receive an allocation of $veDOUBS, dependent on the amount of time their tokens are locked for. The longer the $DOUBS are locked, the higher the number of $veDOUBS received, and the higher rewards and earning power the player has.

$COMPASS TOKENS

$COMPASS tokens are used in-game for the crafting of jewellery and weapons, opening gem pouches and the minting of new NFTs and boosts. They are limited in number, highly valuable and awarded to $veDOUBS holders only.

They are non-transferable ERC-20 tokens, but can be exchanged for $DOUBS on a 1:1 basis in-game if required. If swapped to $DOUBS tokens, the $DOUBS are vested over a 5 day period.