Pegaxy Themis governance and Satellite metaverse

Pegaxy introduces Themis governance platform

Pegaxy moves toward decentralizing certain decisions, and posits a metaverse play.

Pegaxy founder and CEO Corey Wilton has revealed two projects that are launching very soon for the play-to-earn title, including a governance platform named Themis.

Centered around governance and metaverse development, these new projects are set to launch within the next few months, and will provide more utility for Pegaxy’s game tokens.

In the 5th episode of Pegaxy Insider Wilton introduced Themis, a voting platform will will allow users and community members to submit and vote on various proposals that will affect Pegaxy.

Themis is dubbed the “beginning  of Pegaxy governance” and will focus on the utilization of Pegaxy Stone (PGX). Proposals can be submitted by the developers and community members and Wilton states that they will follow a “quadratic formula” approach to how the proposals’ success or failure is decided.

As the company is at an early stage in implementing and utilizing Pegaxy’s governance systems, Wilton adds that one of the goals for Themis is to “train people to get used to get used to making proposals, suggesting ideas, voting up, voting down and using this platform to make even bigger decisions in the future.

Governance is a major aspect of any decentralized project (including play-to-earn games) as it allows for community participation in key updates and major changes. Some decisions are therefore not limited or fully controlled only by the developers, investors and the bigger stakeholders. Themis is set to launch on February 28, 2022, although full functionality might not be available immediately.

Another project in development is Satellite, which will serve as Pegaxy’s metaverse development push and will allow creators to generate and contribute their own Pegaxy-related projects.

Satellite will take advantage of the open source nature of web3 technology and the Polygon blockchain to allow Pegaxy NFTs to also exist in other games and metaverse experiences. Wilton states that the idea behind Satellite came from a Pegaxy community member who approached the team and revealed that they are building a game for the Pegaxy ecosystem.

Contributor-based games can have their own economy but may utilize the Pegaxy IP and as well as tokens native to Pegaxy itself.

While it is not explicitly stated, this approach appears similar to Axie Infinity’s Builder’s Program which opened up opportunities for user-contributed Axie experiences and games.

The majority of details on Satellite, such as how the process of submitting game proposals may work, or how the IP sharing rules will apply, are still being worked out but we are hoping to hear updates from Pegaxy in the near future.