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$GMI Token
The $GMI token is the main token that everything in the ecosystem revolves around.
The team is fully committed to a fair-launch. There is no seed funding, private funding, or VCs.

Tokenomics

96% of $GMI tokens will be obtained through Bonding, Staking and providing LP tokens to the dedicated pools.
Of the remaining 4%:
  • 2% goes towards the initial Liquidity Provision
  • 1% goes towards funding market operations
  • 1% goes towards the Team
Initial supply: 20,000,000 $GMI
Initial Liquidity: 10,000,000 $GMI + 300,000 USDC
Marketing: 5,000,000 $GMI
Research and development: 5,000,000 $GMI
Max supply: 500,000,000 $GMI.
_*Governance can later decide whether to change the emissions. _

Emission rate

The initial emission rate will be 34.25 $GMI per Harmony Network block, of which:
  • 40% goes towards $GMI staking rewards and all dedicated pools.
  • 30% goes to the Reserves for future expansion into different networks.
  • 30% goes towards Bonding which helps the protocol to acquire even more assets.
20% of the total emissions will be distributed for R&D, marketing and the Team. (The team is committed to WagmiDAO success by vesting their tokens for 3 years)

What is the utility of $GMI token?

Governance

$GMI holders will have the opportunity to control the direction of the protocol and future developments. They would be able to vote on emission rates, pool allocations, and additional new pools.
Once per month, $GMI holders would vote on whether to increase, or decrease the $GMI token floor price.
However, there are a few restrictions about it, in order to prevent manipulations:
  • Floor price increase/decrease proposals can be made once per month.
  • This specific proposal would consider changes in the $GMI token’ floor price for up to 10% in any direction.

Treasury

$GMI holders would have the right to control the Treasury. They decide for applicable strategies creating more Yield opportunities.

Earn

$GMI token will be used as a reward token for the dedicated Liquidity Pools. Most of the rewards will be directed towards $GMI holders, further boosting token utility.
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Tokenomics
What is the utility of $GMI token?