Playnance Launches GCOIN Staking as Community Locks Over 250M Tokens in Hours

In this post:

• Playnance, the Web3 infrastructure company powering the GCOIN ecosystem, has officially launched its GCOIN staking program.
• The initiative has attracted overwhelming participation, with over 250 million GCOIN tokens locked by community members in the first few hours post-launch.
• The rollout comes just days ahead of the GCOIN Token Generation Event scheduled for March 18.

Playnance, the Web3 infrastructure company powering the GCOIN ecosystem, has rolled out its GCOIN staking program. The initiative has attracted overwhelming participation with over 250 million GCOIN tokens locked by community members in the first few hours post-launch.

Playance launched the initiative to boost long-term participation among its community members. The Web3 platform has launched the staking program on PlayW3, the flagship Web3 social gaming platform within the Playnance ecosystem.

Playance rolls out staking program ahead of its token generation event

GCOIN holders can now participate in the ecosystem through staking and receive rewards distributed on the platform as the project gears up for its token Generation Event (TGE) scheduled for March 18. The program allows Playance’s community members to lock their tokens and participate in ecosystem-driven rewards while encouraging long-term token alignment. The program also aims to reduce the token’s circulating supply by incentivizing GCOIN holders to voluntarily lock their holdings.

The program allows holders to stake GCOIN through smart contract staking pools to promote transparency, automation, and non-custodial activity. The staking incentive allows a minimum participation threshold of 1,000 GCOIN in the staking pools. The holders will choose the duration they would like to lock their tokens for, with longer lock periods accruing higher reward weight and shorter lock-up periods drawing smaller rewards. 

The holders can lock their holdings for 6, 9, 12, and 18 months, depending on their level of patience. Rewards begin accumulating 24 hours after activation and can be claimed once the staking period reaches maturity. The platform will also facilitate early withdrawals, but users will have to forfeit their rewards to access their tokens.

Pini Peter, CEO of Playnance, said that “staking allows our community to grow together with the Playnance ecosystem. As adoption expands, GCOIN holders can take a more active role in the network’s long-term evolution, participating in the ecosystem through staking rewards.”

Playnance ties rewards to real ecosystem activity, not inflation

Playnance announced that the staking program will connect users’ rewards directly to the ecosystem’s operations. Staking rewards will be distributed through an ecosystem allocation linked to the platform’s activity and products. The revenue generated will flow back to the community of stakers, aligning incentives between platform success and user rewards as the ecosystem continues to expand.

GCOIN powers a growing Web3 entertainment economy spanning across social gaming, prediction markets, and trading environments. Playnance is pioneering a structural shift toward decentralized entertainment economies that bring the global entertainment industry on-chain. 

GCOIN is the ecosystem’s native digital asset and will power economic transactions and the transfer of value. The program aims to allow community members to participate in the long-term evolution of the ecosystem while contributing to greater stability and sustainability across the Playnance network.