Currency System
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The economic ecosystem of Phigolf G2E is composed of two primary currencies: Gold Point (GP) and Phigolf Coin (PHG).
Gold Points are earned by users through their engagement with Phigolf G2E and can be exchanged for Phigolf Coin (PHG) at a pre-announced swap rate. This swap rate may change based on the assessed values of Gold Point (GP) and Phigolf Coin (PHG) within the ecosystem and will be communicated on Phigolf G2E. To address concerns regarding the centralization and reliability of Gold Point, we are developing a dashboard that will periodically disclose the daily acquisition amounts of GP as well as the conversion rates to PHG.
Phigolf Coin is used within the Phigolf App for purchasing items and NFTs that facilitate the earning of Gold Point, as well as for acquiring utilities necessary for Web3 interactions. PHG can be obtained by swapping Gold Point, and it can also be earned through airdrop rewards when purchasing Phigolf products (limited until the airdrop supply is exhausted).
In the future, we plan to establish the PhiSports Mainnet, an environment that integrates various sports platforms. Accordingly, all current internal points, such as Gold Point in Phigolf G2E, will be tokenized to interact with the Mainnet Coin. This transition is expected to enhance the reliability of the Phigolf G2E project and provide users with a more transparent and stable economic ecosystem.
