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)

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

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

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