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MEETLabs Launches DeFishing Game on BNB Chain with Dual-Token Model

MEETLabs debuts DeFishing on its GamingFi platform, combining Proof of Play and staking rewards with a dual-token system of IDOL and GFT on the BNB Chain.

BNB

Summary

MEETLabs announced the launch of DeFishing, the first chain game on its GamingFi platform, now live on BNB Chain. The game integrates Proof of Play and Proof of Staking mechanisms, offering both POP and POS rewards to players. GamingFi features a dual-token system: IDOL serves as the governance token, while GFT functions as the capped game token, designed to maintain a stable in-game economy.

Terms & Concepts
  • Proof of Play: A blockchain mechanism where in-game achievements or activities are recorded and verified on-chain.
  • Proof of Staking: A consensus method where users lock up cryptocurrency to support network operations and earn rewards.
  • Dual-token economy: A tokenomics model where two separate tokens are used within an ecosystem for different purposes, such as governance and utility.