Dungeon Labs unveils Creditcoin-based DUNG token for game rewards

Game developer Dungeon Labs on Sept. 23 unveiled Dungeon Coin, or DUNG, a utility token built on the Creditcoin (CTC) mainnet, along with its “Dungeon Series” game lineup. The company said DUNG will be used for game entry fees, item purchases and settlements tied to in-game performance, with total supply fixed at 100 million DUNG. Reward funding will come from entry fees paid by users and blockchain transaction fees, and will not involve issuing additional new tokens for payouts. Initial distribution will be conducted through a public sale without any pre-allocation to institutional investors or venture capital firms. Dungeon Labs added it plans to open-source code for smart contracts that manage and distribute entry fees, as well as code related to on-chain leaderboards, so external developers can build games using DUNG.