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HomeCOINSWhat is GalaxyGoggle DAO (GG) ? Complete Guide Review...

What is GalaxyGoggle DAO (GG) ? Complete Guide Review About GalaxyGoggle DAO

What is GalaxyGoggle DAO (GG) ?

GalaxyGoggle DAO (GG) The Ape Galaxy (AG) is Decentralized Autonomous Organization (DAO) leveraging a multifaceted approach to investment in blockchain gaming and entertainment worlds. The galaxy consists of two tokens, $GG and $APE_X, an NFT Project, Lucky Ape, and currently has its own game in development.

GalaxyGoggle DAO (GG) Storage Key Points

Coin BasicInformation
Coin NameGalaxyGoggle DAO
Short Name(GG)
Circulating Supply64,144.52 GG
Max SupplyN/A
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Mission

The Ape Galaxy mission is to create a truly community-run platform striving for longevity and sustainability through multifaceted investment strategies in blockchain gaming and entertainment.

Vision

GAME. STAKE. CHILL. AG aims to:

  • Leverage deflationary mechanics to create a sustainable rebase ecosystem developed through investments, gaming integration, and gaming development.
  • Help DAO members earn by renting out community owned assets and providing leadership, training and potential sponsorships.
  • Launch AG games to continue to drive the treasury balance of the DAO while also increasing the value of the $GG and $APE-X tokens.

Staking

Staking is the primary value accrual strategy of GGDAO. Stakers stake their GG tokens on the GGDAO Website to earn rebase rewards. The rebase rewards come from the proceeds from mint sales, and can vary based on the number of GG staked in the protocol and the reward rate set by monetary policy.

Staking is a passive, long-term strategy. The increase in your stake of GG translates into a constantly falling cost basis converging on zero. This means even if the market price of GG drops below your initial purchase price, given a long enough staking period, the increase in your staked GG balance should eventually outpace the fall in price.

When you stake, you lock GG and receive an equal amount of sGG. Your sGG balance rebases up automatically at the end of every epoch. sGG is transferable and therefore composable with other DeFi protocols.

When you unstake, you burn sGG and receive an equal amount of GG tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked GG (if any) will continue to receive rebase rewards.

Minting

Minting is the secondary value accrual strategy of GGDAO. It allows GGDAO to acquire its own liquidity and other reserve assets such as BUSD by issuing GG at a discount in exchange for these assets. The protocol quotes the minter with terms such as the mint price, the amount of GG tokens entitled to the minter, and the vesting term. The minter can claim some of the rewards (GG tokens) as they vest, and at the end of the vesting term, the full amount will be claimable.

Minting is an active, short-term strategy. The price discovery mechanism of the secondary mint market renders mint discounts more or less unpredictable. Therefore minting is considered a more active investment strategy that has to be monitored constantly in order to be more profitable as compared to staking.

Minting allows GGDAO to accumulate its own liquidity. We call our own liquidity POL. More POL ensures there is always locked exit liquidity in our trading pools to facilitate market operations and protect token holders. Since GGDAO becomes its own market, on top of additional certainty for GG investors, the protocol accrues more and more revenue from LP rewards bolstering collateral pool.

Glossary

APR

Annual Percentage Rate, is the annualized interest rate without taking the effect of compounding into account.

APY

Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year. Note that APYs provided are rather ballpark level indicators and not so much precise future results.

BCV

Bond Control Variable, is the scaling factor at which mint prices change. A higher BCV means a lower discount for minters and higher inflation by the protocol. A lower BCV means a higher discount for minters and lower inflation by the protocol.

TaaS

Treasury as a Service, is the business model of decentralized custody of partnership funds. GGDAO is designed for TaaS by issuing mints and absorbing partners’ liquidity into its treasury as a result.