- Through the update, integration of dual-token structure and revised token gas fee policy has been integrated
- Transition to Deflationary Tokenomics with Gas Fee Burning Mechanism
SINGAPORE, June 12, 2024 -- METABORA SINGAPORE (CEO Gyehan Song) announced that it has updated BORA mainnet to version 3.0 and completed the implementation of deflationary tokenomics on June 12th.
This update includes several key changes that were approved at the 5th BORA Governance Council (GC) General Meeting on April 25.
These changes include:
- Integration of the dual-token structure of tBORA and bGAS into a single BORA mainnet token,
- Introduction of a token gas fee policy to stimulate the BORA chain,
- Migration of onboarding games and blockchain services deployed on BORA 2.0 to the updated mainnet.
Additionally, the previous inflation model has been abandoned in favor of a new 'Dynamic Token Burning Model,' which burns a certain proportion of BORA paid as gas fees. The initial burning rate under this model is set at 50%.
With these changes, BORA is set to transition to a deflationary tokenomics model. The plan is to further activate token burning through the enhancement of blockchain services linked to new games and other content scheduled for release in the second half of the year.
In line with its business expansion, BORA will also introduce new onboarding content sequentially. This includes the launch of multiple titles in the global market, such as a baseball simulation game based on a major global IP and 'Birdie Squad 2024,' which features live coverage of KLPGA. These initiatives aim to expand the BORA ecosystem into the sports and entertainment content sectors.
Through this mainnet update, Metabora Singapore plans to show an evolved BORA service and ecosystem.
Meanwhile, METABORA SINGAPORE is expanding cross-chains with various global platforms such as Polygon, Near Protocol, Ethereum, and Binance Chain to expand the global ecosystem of BORA and is preparing for a variety of content services beyond games.
Detailed information about BORA 3.0 Mainnet update is available on the BORA Portal website.
APPENDIX
BORA PORTAL URL: https://boraportal.com/
Contact Points at METABORA for Press Release
Kelly Lee, Deputy Manager / kelly.meta@metabora.io
Allen Ha, Manager / allen.meta@metabora.io
About METABORA SINGAPORE
As a subsidiary of METABORA, a casual and blockchain game developer, and a developer of blockchain platform BORA, METABORA SINGAPORE is servicing user-friendly blockchain-based games and entertainment contents based on a myriad of experiences in development and service.
BORA Platform is associated with various partners across the industries capable of bringing a shift and advance in tokenomics, content and blockchain technology, and covers a range of contents from game to entertainment to guild DAO through an aggressive eco fund investment and partnership. Also, it is developing services optimized to GameFi such as NFT trading, token exchange and DeFi by running BORA Portal.
BORA is a national game/entertainment token with a high liquidity in the market and reinforcing the accessibility of users and services abroad by increasing the listing on global cryptocurrency exchanges and expanding partnership.
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