mK's Economic Development

Stage One: Distribution.

Distribution will be achieved through two main initiatives, the staking for our OG Chefs and various airdrops and incentives programs initiated by the team and the Syndicate. As of this moment $CHEF will not be liquid so participants will be encouraged to use it to interact with our ecosystem.

The airdrops and incentives will have a prominent role during the launch of our Utensil and Ingredient NFT launch.

In this phase airdrops & staking will serve a two pronged purpose, the first of which will be to encourage our existing community to stake and lock their NFTs, this in turn will have a positive impact on our floor price and trading volume which in turn should generate increased revenue for the mK Syndicate and our ecosystem development.

These incentives will coincide with the launch of our first ingredients and utensil NFT's (IUNFTS) drop which at the time will be the only way to access our first PVP minigame Ready, Set, Whip (RSW).

Through this initiative we will encourage new participants to enter our ecosystem at a discounted price and have access to our first game. Mint proceeds which will be both in $SOL and $CHEF and will serve as in-game leaderboard rewards and to start building liquidity for our token.

RSW as described here will offer participants a chance to engage in culinary battles as well as providing an additional revenue stream to keep growing the ecosystem. Due to the fact that IUNFTS will be released in batches it can dynamically be adjusted in terms of quantity, time, price to control the supply of $CHEF, to shift demand to the RSW basic cards when the supply is unavailable and create demand on the secondary market for them.

Stage Two: Growth

The growth of our ecosystem will be measured by the amount of NFT holders, $CHEF holders, RSW players, and the size of our LP. As this stage our IRL partnerships with chefs, restaurants and producers around the world will have grown to a stage where mK will require the businesses that want our support to hold a nominal number of $CHEF or one of our OG Chefs. Furthermore the economy within our community will have evolved in such a way that holders would be able to use their $CHEF to request for: masterclasses, products sourcing and brokering deals with their restaurants of choice.

The metaKitchen team will launch its liquidity mining incentives which will be distributed linearly over 365 days in conjunction with the launch of our metaChef collection, these will be mintable in $CHEF to prioritize our holders and in $SOL by anyone else. The metaChefs will offer an additional use-case for the IUNFT's and the metadata on these IUNFT's will be updated to offer advantages while participating in our metaChef culinary missions.

In our staking game, participants will have to combine their IUNFT's to create custom recipes to follow their metaChef on their staking missions. During levels 1 - 3 the metaChef will be able to only bring one recipe with it to support them on their missions, between levels 4 - 6 he will have two slots. Once the metaChef has reached level 7 the rare recipes will become usable and further customizable. Throughout this journey the metaChef will be able to mint special IUNFTs and/or be granted bonus $CHEF on successful completion of their mission. In terms of our economy the staking game will serve a sink for $CHEF emissions as well as a control on the supply of IUNFT's.

Once the metaChef has reached its maturity at level 10, revenue sharing will be unlocked, access to our P2E game beta, and 10% allocation for the IDO of our in-game token.

Stage Three : Maturity, Scarcity and Deflation

In summary, at this stage our economy will be in full swing, giving mK multiple revenue streams from both on and off chain.

OG Chef Staking - keeps emitting $CHEF
RSW - the PVP NFT minigame, will retain its function as fun way to spend some time with your friends and make some bread. It will also serve as a deflationary mechanism and revenue generator for our token as the house keeps a percentage from all entrance fees.
Our $CHEF Liquidity Pool rewards will slowly approach their end, the rented liquidity will have been replaced by Protocol Owned Liquidity and hardened by ecosystem revenues and strategic buybacks.
Real world demand for our marketing and outreach services has intensified while bolstering the utility of our OG Chefs.
The supply of our metaChef will have been capped, generating further cashflow to our treasury.
Participants are still minting IUNFTs in order to create custom recipes which then need to be utilized by a ranked metaChef and then transposed to our P2E Game to get an edge. Therefore the staking game, UINFT mints and mission fees are also providing a deflationary mechanism for our token.
Our P2E game will be in full-swing and be paying out $COOK to our participants in the campaign and as rewards in the PVP FOOD WAR battles.
Protocol revenues throughout the ecosystem will be reinvested into marketing and further development of the P2E game. This includes a creation of additional campaigns, battles features and aesthetic items to augment your chef as well to expand our off-chain outreach.