News > IGLabs Update: Change in ORB Distribution!
The rate of ORB distribution for users in the IGGalaxy will be reduced in three days’ time. This does not affect the current 4 IGG : 1 IG ORB buy-back rate.
Enter the IGGalaxy and join IGLabs now!
For our newest arrivals to IGGalaxy, you may recognise the name IGLabs; it appears in the side bar on desktop, or the furthest icon to the right at the bottom of the page on mobile devices.
So, what is IGLabs?
IGLabs is our application on the IG platform that aims to spearhead the mainstream adoption of crypto for gamers. It is currently in the ORB generation phase, allowing IGG holders to store their tokens for a fixed period of time to generate ORB tokens.
ORB tokens will have use within IGLabs at a later date, but for now, you can either hold your ORB or sell them back to IGLabs at a current fixed rate of 4 IGG to 1 ORB.
Check out our initial transmission video for IGLabs:
Things you must know:
*This is one of many planned deflationary mechanisms that will reduce the total supply of IGG tokens over time which should positively impact the value of all remaining tokens.
Why should I hold my ORB tokens?
As you know, we are still in the public beta phase of development, making strong progress towards building the galaxy’s best competitive gaming platform. Whilst we seek investment, it is imperative we remain on track for meeting our development plan. The key proposition to bring new users to IGGalaxy is the IGPlay area and other parts more directly related to the needs and desires of our target audience. For this reason, we will focus on developing on IGLabs at a point where it strategically makes sense to do so; both in terms of product and user base.
Long term, IGLabs will incorporate mini-games and quests that will require ORB tokens. For now, we don’t want to give too much away, but as always, will encourage you to put your questions forward and we’ll answer them in the best way we can!
The ORB distribution rate will change on Saturday 18 July 2020, which means the amount you will get for storing your IGG tokens in IGLabs will be reduced.
Current ORB distribution rate.
New ORB distribution rate.
IGLabs stats as of 17:00 BST on Wednesday 15 July according to TRONSCAN:
If you have any questions, please feel free to contact us at firstname.lastname@example.org. You can also speak directly to our team, admins, or members of the community on Telegram messenger to receive immediate support.
To keep up to date with developments, please follow us on our various social media channels:
On Wednesday 29 July, our co-founders streamed on Twitch to respond to questions relating to various aspects of IGGalaxy.
August 4, 2020
Let’s take a look at what esports tournaments are live in IGGalaxy this week! Remember all of our tournaments are free with IGG rewards available for all eligible players!
August 3, 2020
It’s a new week in IGGalaxy which means a week’s worth of new online esports tournaments to join! All tournaments are free to enter with loads of opportunities to receive IGG tokens! Win. Lose. Get rewarded!
July 27, 2020
We know you’ve all been waiting a while to hear from our co-founders, Josh and Naeem, so you’ll be ecstatic to hear that our next live stream will take place on Wednesday 29 July!
July 23, 2020
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