Land Grab
Last updated
Last updated
The Land Grab is a user's chance to secure Real Estate on Primate Island. Users will compete to own Deeds and plots across the 7 Districts, putting their hard-earned $COCO and $NANA to use. The event will last until the end of Season 2.
In total, there are 1400 total Plots across Primate Island.
1316 Small Plots
70 Medium Plots
14 Large Plots
Each Plot is then divisible by 10 Deeds.
Users can acquire Land through two mechanics: - Token pools - Auctions
Token Pools are the main mechanic used to distribute Land Deeds. On an ongoing basis, there will be Token Pools available for users to enter their $COCO & $NANA into. The Token Pool mechanic creates a risk-free method for acquiring land plots while maximising Token Burn through user-driven, free market pricing.
The mechanic works as follows:
For each pool, there will be x amount of Land Deeds up for grabs. Users deposit tokens into an uncapped token pool.
The price per Deed = Total pooled token amount / Amount of deeds
Example: There are 100 Deeds up for grabs. 100 Million $COCO is deposited into the pool. The price per deed would equal 1 Million $COCO. Any user that meets that threshold will be granted a Land Deed, those who don't meet the threshold will be refunded.
The highest bidder at the end of the allotted time wins the Land Plot. Simple as that. Occasionally, Medium and large plots will be auctioned off in $COCO & $NANA. Users will bid on the Plots and the highest bidder at the end of the allotted time wins the plot.
