IC1101 Explorer Coin - $IEC

IC1101 Explorer Coin - $IEC is the in-game soft currency, functioning as a medium of exchange in IC1101 Metaverse. It is used to purchase in-game merchandise and service. It is also a crucial resource for item upgrades.

$IEC has unlimited supply, and is non-transferrable (so it cannot be traded between holders). However, in order to promote transparency, $IEC will be fully onchain, distribution, emission, supply and burn rate etc will all be visible in respective smart contracts.

Periodic emission of $IEC is bounded by a cap to battle inflation and exploitive coin farming. $IEC faucets in the game also have controlled production rates.

Note: $IEC facilitates a frictionless IC1101 metaverse experience, and maintains the stability of IC1101 economy. Hence $IEC cannot be directly exchanged for resources that are freely tradable in an open secondary market, e.g., NFTs and IC1101 tokens etc.