7. $GNG Utility Token
"what's so special about your token?"
The Gnogen Metaverse will run on $EGLD and $GNG.
$GNG is the native token of the Gnogen Metaverse. What is interesting about this token is that the only way you can obtain this token, is to win them in battle. We've built an ecosystem where 80% of the 777 million $GNG tokens that were created are set to be released via smart contract, on a 10-year distribution schedule. The highest distribution rate will be in the first year (50% of the supply), to promote greater adoption of our native token.
Here are some essential takeaways regarding the $GNG token: *There will be zero team tokens allocation. *Gnogen will not sell the $GNG token. *The entire supply will be committed to the Gnogen ecosystem. *80% of the $GNG supply will be fairly mined by the community. Holders of Gnogen Authentic NFTs that contain a "Power" score found in the NFT metadata will be able to enter their NFTs to Gnogen's unique distribution mechanism known as "The Great War".
*10% of the $GNG supply will be devoted to security audits and updates for the entire Gnogenverse. *10% of the $GNG supply will be devoted to fund grants for artists and builders creating 3D assets in the Gnogenverse.
*There are currently 12 use cases prepared to be rolled out over the next 1.5 years. *$GNG mining is set to go live on the Elrond Blockchain Mainnet around Q3 2022!
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