Gummys Tokenomics
GUMMYS token powering the Gummys Tv decentralised video sharing and streaming platform will be launching in 2022.
GUMMYS will be launched on the Binance Smart Chain Network (BEP-20) with a total supply fixed at 1 billion (1,000,000,000).
When users stream or watch videos on Gummys Tv, they earn cryptocurrency including the utility token; GUMMYS.
Gummys Token Distribution
The token distribution promotes a healthy ecosystem by allowing for progressive growth in the circulating amount of GUMMYS. In addition, this mechanism aids in the alignment of the community, investors, core contributors, and advisor’s interests. The total supply is capped at 1.000.000.000 GUMMYS Tokens.
The Gummys project’s token distribution is represented in the picture graphic below. All of these allocations will not be made immediately available; instead, they will be vested and unlocked over time, as shown in the second picture graphic. Vesting is the process of locking and releasing tokens after a given time. Gummys have introduced vesting to prevent having very few entities control a large portion of the total supply and selling it all at once. This will improve the stability of prices in the future.
Community Allocations
Community allocations are funds that will be distributed to Gummys Platform users in the future. 15% of the total token supply will be allocated to the Community in order to maintain long-term sustainability. 5% of the total supply will be available at the time of the release. The same applies to the following years. We consider two types of community allocations: Ecosystem and Treasury.
Ecosystem
The main aim of the ecosystem is to reward users for activities and interactions, such as watching and streaming content on Gummys TV. Fees from transactions and interactions on the Gummys TV platform will be used to replenish the sustainability pool.
Treasury
The Treasury’s primary function is to house bounty programs, partnerships, and other assets. To encourage new users to join the Gummys TV Platform, on boarding incentives have been provided. Existing users are rewarded for referring new users, allowing the community to grow. At a later time, more features will be implemented to foster the growth of the project. The details of other bounty programs are still being worked out.
To help the community grow and expand, collaborations partnerships with renowned streamers are needed. The partnerships’ main goal is to incentivize influential people to create content for the Gummys TV platform.
Liquidity Allocations
A liquidity pool is a collection of funds locked in a smart contract. Liquidity pools are used to facilitate trading for users on the Gummys platform. A total of 20% of the total supply will be allocated to liquidity pools. At release, 10% of the total supply will be dedicated to liquidity. In the coming years, 3% and 2% of the total supply will be unlocked, respectively, to provide additional liquidity.
Market & Investor Sale
To encourage widespread market adoption of the Gummys TV Platform and to fund capital for future Gummys development, 25% of the total token supply will be reserved for the pre-sale. A further 5% will be set aside for possible Initial Exchange Offerings (IEO), Initial DEX Offerings (IDO), or Initial Liquidity Offerings (ILO) (ILO). Follow us on social media for information on how to be an early bird and get a piece of the pie.
The private sale will be limited to a small number of persons and will have a lower price than the public sale. The seed sale distribution is divided into ten rounds, lasting for 10 months. This will give investors to purchase GUMMYS tokens prior to their listing on major exchanges or other public sales. Tokens purchased in these seed rounds will be locked for a period of two months.
Tokens allocated for IEO/IDO/ILO will also have a lock period of 1 month.
Company Allocations
Tokens will, of course, be allocated to the company. This will be held in the company’s treasury. This treasury could be used to burn tokens, cover technological issues/hacks, or handle any other type of emergency. . Other allocations (e.g., liquidity pools or the ecosystem) can also be funded in the future if necessary. This allocation will be locked at the time of release and 20% of the total supply will be dedicated to the company.
Core contributors, advisors, and partnerships
The Gummys project’s primary contributors and advisors receive 15% of the total supply. These tokens, however, are gradually distributed over time. These funds will be used to fund the development and management of the Gummys Platform and related services in order to secure future growth. At the time of release, 7% will be unlocked, with the remaining 3% distributed over the next two years. A portion of the funds can also be set aside for strategic partnerships with others in the cryptocurrency field in order to improve the project.
Summary
The tokenomics showcases the economics of the Gummys token, its distribution, quality and development. The token distribution promotes a healthy ecosystem by allowing for progressive growth in the circulating amount of GUMMYS.
Gummys TV is a Decentralized Web3.0 Application (DApp) on the Binance Smart Chain. When interacting with the platform, the application uses its own native token (GUMMYS). A small fee is charged for each transaction made on the platform, and this fee is used to put the transaction on the Binance Smart Chain. In addition, a minor fee is charged for every interaction assigned to the Community Sustainability Pool. The dev team manages the Community Sustainability Pool to keep the platform and ecosystem running smoothly.
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