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Project Overview
Rift provides Experience (XP) infrastructure for Loot, highlighting the paradox Loot users face when using their bags to interact throughout the Lootverse: extracting value from the bags rather than adding value to them. As bags interact across projects, they earn soulbound XP (bound to the bag) and level up. A bag's level can be used throughout the Lootverse in a variety of ways, such as level requirements for allowlists, requirements for Dungeons, special looks or visuals, etc.
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South Korea Virtual Asset Tax Reignites Ruling-Opposition Rift; Deputy Prime Minister to Decide After "Maximum Careful Consideration"
According to Yonhap News Agency, the South Korean National Assembly's Committee on Finance and Economic Planning held its comprehensive audit of state affairs for 2026, where the ruling and opposition parties clashed over the virtual asset taxation issue, which has been postponed three times. Originating from the 2020 revision of the Income Tax Act, the policy is scheduled to take effect starting in January 2027 under current regulations. Democratic Party lawmaker Yoon Deok-ho stated that the United States, Japan, Germany, and the United Kingdom have already implemented virtual asset taxes, noting that approximately 48 countries worldwide are currently taxing them. He argued that repeated delays undermine policy consistency, claiming that postponing or repealing enacted laws "shakes the foundations of the nation." Meanwhile, People Power Party lawmaker Lim Yi-ja pointed out that overseas exchanges have no obligation to submit transaction details to South Korea, compromising tax fairness. She also noted that industry players require at least six to nine months to build necessary infrastructure in accordance with National Tax Service announcements, indicating that current preparations remain insufficient.
Celebrating the S16 League of Legends World Championship, Gate Launches the Rift Peak Prediction Contest with a 150,000 USDT Prize Pool
Odaily News: As the 2026 League of Legends World Championship officially kicks off, Gate has launched its blockbuster Rift Peak Prediction Contest. The event runs from October 14, 2026, 16:00 (UTC+8) to November 15, 2026, 16:00 (UTC+8). Users can participate through the Gate App in designated World Championship event markets, predicting individual match outcomes, series scores, advancing teams, and the ultimate champion.The total prize pool for this event reaches up to 150,000 USDT, featuring four core gameplay modes: First Prediction Gift: Users who participate in event markets for the first time with a cumulative trading volume of no less than 200 USDT can receive a 10 USDT trial voucher, limited to the first 4,000 participants; Stage Rewards: Covering the four major stages of the Play-In Stage, Swiss Stage, Knockout Stage, and Finals, users can unlock trial vouchers at different tiers based on their trading volume, with a cumulative prize pool of 50,000 USDT; Rift Power Ranking: Users can accumulate power points through trading volume, and the top 100 high-power players will share a dedicated prize pool of 30,000 USDT, with the champion receiving an exclusive 5,000 USDT; Rift Bonus Benefits: The event includes a 10,000 USDT champion prediction shared prize pool, a 10,000 USDT finals prediction loss compensation prize pool (with a maximum compensation ratio of 20%, distributed in the form of trial vouchers), and a Witness Award that grants lottery eligibility for participating in all four stages, with a total of 100 slots for rewards equivalent to 100 USDT each. Users can now head to the Gate App to participate in the event, enjoying generous prize pool rewards while predicting match performances and team fates.