Gelotto Keys (GKEY) - A Brief Summary

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
• 7% distributed through various events and giveaways (e.g., world treasure hunts, NFTs)
• 3% distributed to developers, vesting over 12 months

How to acquire GKEY

• Monthly airdrop to wallets that hold at least 10,000 GLTO throughout the month (snapshots may be taken at different times during any given 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
• Stake other IBC assets with Gelotto validators
• Participate in Gelotto events
• Purchase using GKEY liquidity pools

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
• 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