Qwan gaming token to launch on Ethereum via Horizen Labs Ventures on May 31
The Qwan is a cryptocurrency token for Web3 that aims to revolutionize the gaming industry by involving users. It has announced plans to launch on the Ethereum ecosystem on May 31. The Qwan token is backed by key Web3 investors, including Horizen Labs Ventures, which has backed successful GamiFi projects like Yuga Labs, The Sandbox, and Animoca Brands. The Qwan token intends to enable a decentralized economy for all gamers globally by incentivizing their activities.
Closer Look at the Qwan Ecosystem
Several centralized exchanges, including MEXC, AscendEX, and BTSE, among others, will list the Qwan token on Wednesday at a listing price of about $0.15.
“We are excited about QWAN and its potential to positively impact and shape game economies, powering new utilities and a community-led governance that can appeal to existing Web2 gamers,” said Rohan Handa, Founding Member and SVP of Business Development at HLV.
Gaming platform and marketplace, Banger, has announced plans to integrate with the Qwan token and work closely with the Qwan Foundation. As a result, the Qwan Foundation hopes the Banger integration will work as a magnet to gaming projects without economic incentives to their players.
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“We are thrilled for Banger to integrate The QWAN as its key gaming token and offer our gamers the opportunity to enhance their gaming experience. With The QWAN, our offering becomes very unique in the market and allows us to provide gamers with an experience that can’t be found elsewhere”, said Borja Villalobos, Banger CEO.
As a decentralized network, the Qwan Foundation uses the QWAN DAO to ensure the community has a voice in the governance on matters affecting the protocol.
Market Outlook
The tokenomics of a crypto token plays a crucial role in its general market outlook. Crypto market leaders have called out projects that have allocated huge amounts of tokens to initial developers at the expense of secondary investors. As for the Qwan token, the team has set a fixed supply of 1 billion units. Out of which 455 million, which represents about 45.5 percent, is allocated to the ecosystem’s treasury that is governed by the Qwan DAO.
According to Qwan Foundation, the 45.5 percent allocated to the treasury will be used for gaming incentives, enabling partnerships, and grants, among others.
Approximately 25.3 percent of the Qwan supply, amounting to 253 million units, has been allocated to the Qwan partners. The remaining percent has been divided among investors and launch contributors amounting to 168.3 million and 123.6 million, respectively. In order to ensure the stability of the Qwan network, the tokenomics are designed in such a way that every category has its own unlock period, starting from 12-72 months.
