In the context of the continued improvement of the encryption market, the Web3 game ecosystem Portal started the first shot of the Binance Launchpool sector in this bull market with an increase of more than 80 times at the opening. , creating the highest increase in Binance’s new coin mining in this round of bull market, exceeding the previous highest opening price of 2-3U expected by analysts, breaking through the expectations of most miners with a price of 4.3U, creating a new round of mining Rich myth.
Portal Gaming=Steam in the Web3 world?
Portal Gaming is a platform focusing on Web3 games, providing one-click login, easy payment and centralized management of in-game assets (such as NFT and accounts) abstract) and other functions. The platform emphasizes social and multiplayer game functions and supports cross-chain operations to achieve seamless integration of different blockchain online games through interoperability protocols such as LayerZero.
Portal Gaming website shows that it has listed more than 200 games and plans to integrate more networks, such as Polygon, Avalanche, Solana and Klaytn. Its goal is to become the Steam game platform in the Web3 world, providing players with a smooth and free gaming experience.
Portal Gaming background
According to the white paper, Portal Gaming Developed by the Portal Foundation in the Cayman Islands, it is committed to building a unified Web3 game ecosystem by connecting games and players on different blockchain networks. The team members behind it come from top game studios and have worked on multiple disruptive projects. Made some achievements.
Portal Gaming said that it currently has established cooperative relationships with many well-known game companies and organizations such as Space Nation, Oxya Origin, and Nine Chronicles, further expanding its ecosystem. System influence, and Newman Group, as a strategic investor, will provide valuable advice to Portal Gaming in the Asian market.
In addition, Magic Eden stated that all NFTs in the Portal ecosystem in the future can be purchased on Magic Eden using Portal tokens. At the same time, Portal’s cooperation with LayerZero will promote cross-chain interoperability and provide players with more game access and distribution opportunities. The addition of partners such as LayerZero, Magic Eden, M80 and MWE has brought more resources and cooperation opportunities to Portal.
Portal Coin
Portal Coin as the Portal Gaming platform Universal game currency and native tokens not only have traditional in-game payment and transaction functions, but also have governance functions. According to token economics, the maximum supply of Portal coins is 1 billion, which will be minted at the beginning of creation and then released to the community treasury over time to ensure the stable supply and long-term value of Portal coins. .
Transaction fee payment and treasury mechanism
Portal coin was Used to pay transaction fees, which consist of cross-chain transactions verified by Portal nodes and native fees on the Portal network. When players pay transaction fees, part of the tokens are burned while another part is deposited into the vault. The tokens in the vault will be redistributed as rewards to nodes, game developers, and ultimately returned to players to ensure the liquidity and value stability of Portal coin.
In-game payment and cross-chain transaction pricing
In Within the Portal network, all transactions support Portal coin as one of the payment options within the game or game-related markets. Additionally, all fees associated with any cross-chain transactions via the Portal network are denominated in Portal coins. This makes Portal coin an important payment tool in the platform game ecosystem, promoting game interoperability and convenience.
Staking and voting mechanism
Portal coin also introduced Staking and voting mechanisms provide players and game developers with opportunities to earn rewards and participate in governance. Players can stake Portal coins to earn rewards, while game developers can stake to increase the visibility and attention of their games on the Portal Gaming platform. This incentive system, called a stake-to-scale system, promotes decentralized game distribution while also enhancing interaction and cooperation between players and game developers.
Provide liquidity
Portal coin can also provide liquidity for the chain The game tokens and game assets on it provide central liquidity, thereby obtaining some economic benefits from the Portal ecosystem as a whole, and this function also makes Portal coin a bridge connecting different games and assets.
Coin price faces selling pressure
Previously relied on official recommendation Due to frequent interactions between accounts and users, Portal has successfully introduced a wide range of user groups including crypto KOLs and crypto community users through viral marketing. Its IDO once also caused heated discussions on Twitter. Because of this, this private placement Airdrops are getting a lot of attention.
According to the Binance Research report, 50 million new coins will be released for mining at the opening, 28 million will be released for private placement, and 8 million will be released by the team, plus From the treasury, public offering shares, airdrops, etc., a total of 160 million Portal coins were released to the market, accounting for 16.82% of the total circulation.
Previously, due to the high popularity of airdrops, according to users in the crypto community, claims on the Portal chain were crowded before the opening, and the gas fee continued to soar by more than 50 US dollars. However, for For the private placement price of 0.15, early investors have currently made more than 20 times profit. Exchanging 50 US dollars for 1,000 US dollars is undoubtedly a good thing. This generous return not only proves the potential and value of the Portal project, but also brings benefits to the market. There is huge selling pressure. According to Scopescan monitoring, a certain address received about 1.27 million PORTAL airdrops. At the previous price of about $3, it received about $4.8 million in PORTAL airdrops. The address has exchanged PORTA, deposited it into multiple CEXs and sent it to Other addresses.
In addition to private placements, the released tokens of Lauchpool are currently in a profitable state, and the Portal market will bear the dual selling pressure from private placements and miners.
According to previous monitoring by ai_9684xtpa, the gas fee source address of the Portal market making address has had transactions with DWF Labs and Amber Group, but the former is more likely. , the PORTAL market maker is likely to be DWF Labs, so how should DWF Labs, which is famous for its "explosion and destruction", respond to the heavy selling pressure from above?
According to the market, the price of Portal has dropped to around 2.4U after opening as high as 4.3U. The selling by private equity and miners may continue.
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