A truly decentralized platform must have a community governance mechanism. In fact, we already know some of the crypto projects have their own governance token and voting rules, while most of the projects don't care about true governance. But, DeFiGEM cares about decentralization, we also care about community building.
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We believe true decentralization is a key to underlying success for any projects, companies, and startups. Therefore, our primary goal is to build a decentralized layout for a DeFi ecosystem where the community decides everything changes within complying with certain rules. Think about Bitcoin, it's truly decentralized, but is it? It has the widest distributed ledger around the globe running over 10k full nodes (Data source). That's quite big if we count each of it as a single individual. Now, imagine if each of them could vote easily for future development? Wouldn't that be a much more beautiful thing as we need a sustainable technology that changes and adjusts with time?
DeFiGEM wants to make the voting process easier yet powerful for everyone while keeping it in different from the daily financial transaction. Therefore, we decided to build a dual economy with two different tokens of our own. DGEM & GGEM, let's learn about each of them and what you can do with it.
GGEM
Governance GEM (GGEM) an erc-20 token standard for the use of DeFiGEM protocol voting. Holders are able to cust vote in a 1:1 ratio. We did not set any voting rules yet, we promise, it will be most user-friendly and effective for the governance community. We swear GGEM will be the heart of our upcoming DeFi incubator program. We will announce details about it very soon.
You hold GGEM, you get the key of the DeFiGEM finance, the key only works if many other keys want the same thing at the same time. Function to vote and voting features will be rolling out in the coming few days.
GGEM spec:
Tickr: GGEM
Type: erc-20
Max supply: 2,100
How to obtain GGEM?
The only way to acquire GGEM is by holding DGEM. All DGEM holders will get rewards for GGEM automatically.
We have made some changes in GGEM distribution, as we think these changes will be more effective for our investors and community.
GGEM will be distributed in 2 phases. We will take a snapshot before each distribution.
Snapshot 1: October 30
Distribution 1: On 2nd November, 1,000 GGEM will be shared with DGEM holders proportionally
Snapshot 2: November 6 (we give some time to people who won't purchase in presale). By then DGEM will be listed in the exchange. So anyone can purchase and hold.
Distribution 2: On 10th November, 1,000 GGEM will be shared to DGEM holders proportionally
Exception: 100 GGEM is reserved for the founding team. As you know the team has no allocation in DGEM.
DGEM
DeFiGEM (DGEM) an erc-20 token standard for the use of building liquidity pool, transaction fees, platform listing, reward distribution, and possibly daily transaction with a fiat gateway.
DGEM specification
Tickr: DGEM
Type: erc-20 standard
Max supply: 210,000 DGEM Changed to 181,298 DGEM after token burn
DGEM pre-sale is open now, round 1 going to be ended soon. A total of 150,000 DGEM was allocated for all rounds. We believe DeFiGEM could become one of the leading DeFi services with all your supports. Especially, when we roll out the incubator program. What do you think?
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Get some DGEM earlier, we look forward to your co-operation.
** This article originally published in our medium blog.