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TABLE OF CONTENTS

How to Play Pegaxy and What Are Vigorus and Pegaxy Stones

Tanyo Gochev -

 


Key Takeaways

  • Pegaxy is a play-to-earn PvP horse racing game where gamers compete to finish in the top three to earn rewards.

  • Pegaxy uses the dual token economic model, with Pegaxy Stone (PGX) as the governance token and Vigorus (VIS) as the utility token.

  • You can buy or rent Pegas on Pegaxy's native marketplace.


I don’t know about you, but I’m obsessed with horses. I'm not Tony Soprano type of obsessed (this was for you, Sopranos fans), but I do like the four-legged animals. So when I heard about Pegaxy, a play-to-earn horse racing game made by a Chinese team, I had to check it out.

I've made some money from similar blockchain games like DeRace in the past, so I was eager to find out more about its Chinese counterpart. Turns out, Pegaxy is a fun and potentially profitable game. 

Let's go under the hood of Pegaxy and see how much we could earn.

What is Pegaxy (PGX)

Pegaxy is a play-to-earn PvP horse racing game built on Polygon. Gamers compete to finish in the top three of each race against 11 other players, so they can get rewards.

To play Pegaxy, we would need to get a mighty creature called Pega as an NFT, which would literally be our racehorse. We can rent or buy one in Pegaxy's native marketplace. And we will do both in this article! The Pegaxy development team created 5000 Founding Pega. Every Pega minted after that was created via breeding.

In each race, there are different elements that have an impact on determining the winner - speed, wind, fire, water. You can upgrade, breed or feed your Pega to boost its stats. These include speed, strength, lightning, wind, water and fire. Every Pega has 25 energy capped while each race requires 1 energy. 1 energy restores every hour, so you can enjoy daily racing.

Pegaxy uses the dual token economic model. Pegaxy's governance token is Pegaxy Stone (PGX), and the utility token is Vigorus (VIS).

What is Vigorus (VIS)

The top three winners of every race will earn Vigorus (VIS) tokens, and that’s the only way to mint VIS tokens, which is the utility token of Pegaxy. As the main “earning” and “spending” token, VIS is needed for breeding and fusing Pega, where the amount required depends on the breed count and type of Pega. 

Breeding and fusing Pega lets players create higher rarity Pega, which entitles them to participate in races with higher rewards.

To create what the team terms “a reasonably balanced mint and burn ratio while avoiding micromanagement and over dictation of the ecosystem”, 100% of VIS spent is burnt when re-rolling Crowned Pega, which costs the equivalent of US$50 in VIS, and also when breeding.

Vigorus tokenomics

Find out more about VIS’s tokenomics here.

How Much VIS Does it Cost to Breed and Fuse Pega

The VIS cost for breeding Pega can go up to 42,000, while a Genetic Fusion with 2 Epic Pega will cost 64,000 VIS.

What is Pegaxy Stone (PGX)

Pegaxy's governance token is Pegaxy Stone (PGX). PGX started with a token sale on KrystalGO, with 20m PGX tokens sold in 5 hours. Current and proposed use cases for PGX within the Pegaxy Metaverse includes:

  • Breeding fee

  • Purchasing Pega on the marketplace

  • Staking

  • Large tournament rewards

For now, there are limited ways to earn PGX from playing. Pegaxy’s team has been transparent that this play-to-earn blockchain game won’t be decentralized in the initial stages. We can all appreciate the honesty here. 

The team will take a 3% fee from all marketplace transactions as well as a breeding fee. We would discuss the breeding model in a different article. There won’t be any other platform fees on Pegaxy. The money will go towards game development, ecosystem development, and community growth. 

Getting Started with Pegaxy

To play Pegaxy, we would need to get a mighty creature called Pega as an NFT, which would literally be our racehorse. We can rent or buy one in Pegaxy's native marketplace. And we will do both in this article! The Pegaxy development team created 5000 Founding Pega. Every Pega minted after that was created via breeding.

In each race, there are different elements that have an impact on determining the winner - speed, wind, fire, water. You can upgrade, breed or feed your Pega to boost its stats. These include speed, strength, lightning, wind, water and fire. Every Pega has 25 energy capped while each race requires 1 energy. 1 energy restores every hour, so you can enjoy daily racing.

Let me show you how you can get Pega.

How to Rent Pegas

The most affordable Pegas used to cost at least 300 USDT which is a high barrier to entry. Even though the price has dropped, some players may prefer to rent Pegas instead of buying them. That’s why Pegaxy has implemented a unique rental system. In most play-to-earn games, the owner of the NFT rents it to the scholar in exchange for money. 

This system has one huge disadvantage - it’s very easy for the owners to “scam” the Scholars. The owner could lend their NFT to a scholar, earn passive income from the scholar’s work without paying them. The users could grind for weeks or even months without getting any rewards. No Bueno!

Pegaxy addresses this problem by having an automated payout and rental process. For every rental agreement, Pegaxy will provide an escrow account. This account will hold the rewards the scholar earns and distribute them according to the profit-sharing agreement.

The escrow wallet will also keep the Pega, so the owner doesn’t have to send it to another wallet every time someone rents it. Within the Pegaxy Metaverse, there are three types of renting:

Profit Share

The profit-sharing model is for the Pegaxy whales. They can have tens or even hundreds of Pegas. That’s too many horses even for Tony Soprano. So Pegaxy wants to provide these owners with an opportunity to earn some passive income. They can rent out their horses to other players in exchange for percentage earnings in VIS.

The NFT owners could “take back” their Pegas any time they want. That’s because a user could be underperforming or even worse, not playing the game. How dare they? So the owner could get their NFT back and rent it to someone who’s excited to play. After all, the goal of the profit share model is to reward hard-working scholars.

Direct Rental

This approach allows gaming guilds to support players. The rise of games like Axie Infinity shows that big guilds like YGG and Real Deal Guild can make them more accessible. With a direct rental, the guilds lend out their Pegas to the scholars without a middle man. 

All the guilds need to do is to create a rental contract that includes the rental period and the price in VIS.

Fixed Rental

We have seen this model in the real world. The Pega owner lists his NFT for a fixed price in PGX. He also determines the rental period. Once someone pays the rental fee and the owner accepts it, he won’t be able to return his Pega until the rental period is over. That way, the user will have guaranteed playtime that he can enjoy.

Now that we have the three different rental options out of the way, let me walk you through the renting process. I’d assume you already have a Metamask wallet. If you don’t, you’ll find this guide quite helpful.

Here’s how you can rent out a Pega:

Step 1: Buy Polygon on a crypto exchange

The best options here are Coinbase, Kraken and Binance.

Step 2: Add the Polygon network to your Metamask

© Binance Academy

Click on the “Add network” button and put in the following information: 

  • Network name - Polygon

  • New RPC URL - https://polygon-rpc.com

  • Chain ID - 137

  • Currency Symbol - MATIC

  • Block Explorer URL - https://polygonscan.com/

Step 3: Send Polygon to your Metamask wallet

Step 4: Navigate to Pegaxy’s website and click on the “Play Now” button to access the marketplace

© Tanyo Gochev

Step 5: Press the “Renting” button

© Tanyo Gochev

Now we see all the renting options - pay rent fee or share profit. To rent out a Pega from a guild, we would have to reach out to them directly. Shadow Legacy Guild and Real Deal Guild are frequently looking for Pegaxy scholars. For the purposes of this article, we would be renting a Pega by paying a rental fee.

Step 6: Click on the “Pay Rent Fee” button to find a Pega we like

© Tanyo Gochev

This female horse is badass, having 24 out of 25 energy. 

Step 7: Rent the Pega by clicking on the “Rent” button

We would need some PGX to rent the NFT.  

Step 8: Let’s go to CoinGecko and add the PGX token to our MetaMask

© Tanyo Gochev

Step 9: Swap the Polygon we got earlier in our Metamask with PGX

© Tanyo Gochev

Polygon could be a little slow, so let’s give it time.

Step 10: Rent out the Pega we liked by clicking on “Approve PGX” 

© Tanyo Gochev

We have to be patient here. The last step literally took me 30 mins. Sometimes, the spending approval could fail and I’d have to restart the transaction. I even had to buy a different Pega but we did it!

How to Buy Pegas

There are two types of listings within the Pegaxy marketplace - buy now and auction.  I decided to go with the “buy now” option because I wanted to avoid starting a bidding war for a Pega.

Here’s how to buy Pega:

Step 1: Navigate to Pegaxy’s website and click on the “Play Now” button to access the marketplace

Step 2: Go to Marketplace and click on Pegas

© Tanyo Gochev

We can buy Pega with either USDT or PGX on Polygon. Now let’s find a Pega with some energy left, so we can play the game. 

Step 3: Let’s buy this one by clicking on the “Buy” button

© Tanyo Gochev

Step 4: Success

Now is time to go over the game mechanics.

How to Play Pegaxy

You can play Pegaxy on your computer or phone. The mobile version of the game is available for Android and iOS. To play it on a mobile device, you'll need obviously a phone, an installed Metamask Wallet that's connected to Polygon, and one Pega, of course.

For this part, I decided to stick to the desktop version of the game. Now that we’ve rented and bought Pegas, here’s how we can play the game: 

Step 1: Go to the site and click the “Play Now” button.

Step 2: Click on the “Racing” button.

© Tanyo Gochev

Step 3: Let’s pick a Pega

© Tanyo Gochev

Step 4: Press “Start” to find a match

© Tanyo Gochev

You’d have to wait for a few seconds before you get a placement. The game will match you with 11 other random players. 

Step 5: Confirm that we will participate by signing with our wallet

This step is completely free.

Step 6: Play

© Tanyo Gochev

Each race takes between 1-2 minutes. For now, the race is completely automated but Pegaxy has plans to make it more skill-based.

At the bottom of the screen, you can see the stadium that hosts the competition with its different stats. 

Right now, the results of each race are random with a slight dependence on how well the Pega and the Track statistics match. For example, if your Pega has a high Wind stat and races on a track with a lot of wind, your Pega has a better chance to finish in the top 3.

Step 7: Start earning

© Tanyo Gochev

Let’s do the math. 

I rented one Pega for 45 PGX which at the time of writing this article is worth around $11-$12. I won one race, earning 105 VIS, which is worth $2, so I have to win 7 races to be profitable. Not bad given that I got a Pega with 24 energy.

If you want to cash out the first tokens you earn, you’d have to wait 15 days before you claim them. This is quite a lengthy period of time, but the team wants to support an economic balance.

Let’s Take Our Pegas for a Ride

Pegaxy is a play-to-earn game that wants to onboard more users into blockchain games. The team has plans to make the game available for low-end Android devices. It's a fascinating take on the classic style horse racing game. While it’s not fully decentralized, it has a transparent team behind it. How is that for a change?

The game is still quite new, but it has a mythological styling and 3D racing, attracting more than 15k active users. And boy, did I have tons of fun playing it? I hope you did too. 

Enjoy earning your crypto rewards!

If you enjoy playing games, be sure to check out the 10 best NFT games to play in 2022!

 

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Tanyo Gochev
Tanyo Gochev
Tanyo is a freelance crypto and blockchain writer. He loves writing, crypto, and Big Macs. Follow the author on Twitter @TanyoGochev

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