News > How do I store my IGG in IGLabs 'Power Capsules' to generate ORB tokens?
IGLabs, a core component of IGGalaxy, aims to spearhead the mainstream adoption of crypto for gamers.
First launched in May 2019, IGLabs currently allows IGG holders to store IGG tokens in capsules for a fixed period of time; by doing so, you burn 0.2% of IGG locked in the capsule, but earn ORB tokens as a reward.
For now, ORB tokens can be sold to IGLabs (at a current rate of 5 IGG per ORB), or you can hold on to your ORB tokens for later utility in IGGalaxy! 50% of all ORB tokens sold to IGLabs is burned from existence, effectively reducing the total supply, making it a highly deflationary token.
As for the future utility of ORB tokens, for now we can reveal that ORB will play the role of a governance token for IGGalaxy and operational token for IGLabs.
Want to take part and start generating ORB? Here’s how!
Freeze your IGG tokens for fixed period of time to earn ORB tokens!
If you would like to purchase your own MATIC for future use, you can use the following third-party exchanges:
At the moment, Binance doesn’t support Matic network, so for now, we recommend buying MATIC tokens from Transak. The MATIC you purchase on Transak is already on the Matic network and can be sent directly to your IGWallet (instead of purchasing MATIC on Ethereum via Binance and having to do a ChainSwap deposit).
In the near future, we will release a feature that allows users to pay for network fees in IGGalaxy with IGG tokens.
Once you’ve entered IGGalaxy, and have a wallet set up with required tokens, click the ‘Capsules’ icon as shown below.
Select the ‘Capsules’ feature in IGLabs to generate ORB!
This is where you can access all ‘Frozen’, ‘Ready’ and ‘Claimed’ capsules.
Each capsule must hold a minimum of 100,000 IGG, and a maximum of 10,000,000 IGG; there is no limit to the amount of capsules you can create, however.
You can view all ‘Frozen’, ‘Ready’ and ‘Claimed’ tokens!
All power capsules can be deployed for any period between three to 30 days. We advise you to store your IGG tokens for 30 days, though, to maximise the amount of ORB rewards for any given capsule.
Choose the amount and duration you wish to store your IGG tokens for!
Please double-check the details before you deploy your IGLabs power capsule. Once the smart contract is in progress, you will not be able to unlock your power capsule until the date set has passed.
The amount of ORB you receive is solely based on the amount of IGG and length of time set.
IGLabs will buy your ORB for 5 IGG per ORB token!
You will be required to hold MATIC to cover the fee set by the Matic Network. This is estimated to be around 0.0005 Matic (~$0.00000885) per IGLabs power capsule.
We would like to inform our community that we intend to reduce the ORB distribution rate early in November! As always, we will provide a minimum of three days notice prior to the rate change.
We are also exploring the possibility of changing the minimum and maximum amount and period for each Capsule.
To keep up to date with developments, please follow us on our various social media channels:
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