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Gelotto Keys (GKEY) - A Brief Summary

Gelotto Keys (GKEY) - A Brief Summary

Tritador XYZ's photo
Tritador XYZ
·Aug 2, 2022·

2 min read

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What are Gelotto Keys (GKEY)?

  • A rare secondary asset used on the Gelotto platform in the first annual Grand Prize game (Link: Grand Prizes for Gelotto)

Token Address

juno1gz8cf86zr4vw9cjcyyv432vgdaecvr9n254d3uwwkx9rermekddsxzageh

Tokenomics

  • Max Supply: 1000
  • 30% distributed to holders of Gelotto primary token GLTO
  • 30% distributed to liquidity providers in GLTO liquidity pools
  • 30% distributed as additional rewards for staking other IBC assets with Gelotto validators (coming soon)
  • 7% distributed through various events and giveaways (e.g., world treasure hunts, NFTs)
  • 3% distributed to developers, vesting over 12 months

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How to acquire GKEY

  • Monthly airdrop to wallets that hold at least 10,000 GLTO throughout the month (snapshots taken at three times per month)
  • “Staking as the house” and staking with Gelotto DAO will also count as held GLTO for this purpose (coming soon – Link: Gelotto Year 1 Roadmap)
  • Incentives for providing liquidity in GLTO liquidity pools: Osmosis Lab: Pool #778, Junoswap (coming soon)
  • Stake other IBC assets with Gelotto validators (coming soon)
  • Participate in Gelotto events
  • Purchase using GKEY liquidity pools (coming soon)

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Uses for GKEY

  • Burn certain amounts of GKEY during annual Grand Prize game to “unlock” a “locked chest” that contains a large prize (target value: at least 50,000 USD per prize, with the largest grand prize being 10-100 BTC)
  • Burn a small amount of GKEY during the Grand Prize game to learn the contents of a “locked chest” before opening it
  • Provide GKEY as liquidity in GKEY liquidity pools to receive incentives (coming soon)
  • Buy, sell, and trade GKEY using GKEY liquidity pools, and possibly other means
  • GKEY that is not used during the first annual Grand Prize game may be held and will provide a bonus for acquiring the token for the next Grand Prize event
 
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