1,000,000 GangstaBet Governance Token ($CROWN) November 2021 reward pool
The GangstaBet Governance Token ($CROWN) is an IRC-2 governance token in the GangstaBet ICON Universe. The holders are true believers of the project with which they can participate in key governance through staking and voting. $CROWN will be currency used to create value in the GangstaBet ecosystem in the form of stories, collection, areas capture, and much more.
The GangstaBet team recently registered themselves as a P-Rep in the ICON Governance. Our goal is to use the earned ICX rewards to provide liquidity in various ICON DEXs to our two native tokens: $GBET, the utility token to change the name & stats, and $CROWN, the governance token. We believe that more liquidity will provide a more stable price to the tokens, which will indirectly help bring more people to the GangstaBet ecosystem.
We will be providing $CROWN tokens to everyone who stakes & votes for the GangstaBet P-Rep. 1,000,000 (1 million) $CROWN tokens will be distributed for the month of November to people who delegate vote for us. The monthly pool rewards will continue and be distributed to the voters of the GangstaBet P-Rep.
How do I earn $CROWN Tokens?
At the moment, there is only one way to earn the GangstaBet Governance Token ($CROWN), it is by staking your ICX and voting for the GangstaBet P-Rep. After we go live with the token in December, we will airdrop them to holders of the GangstaBet NFTs. All NFT holders are early adopters and believers in the project and they will receive an airdrop. The amount of tokens airdropped will be proportional to the level of your GangstaBet NFT.
Are the $CROWN Tokens distributed equally?
No. There will be snapshots of the votes at regular intervals throughout the day and will be averaged out (weighted-average) for the entire month. The total reward pool (November — 1,000,000 $CROWN) will be distributed based on the number of votes & when the votes were delegated during the entire month. Therefore, an early vote results in a larger reward. People who try to gamify the voting will be disqualified.
Will there be a utility of the $CROWN token?
Yes, there will be various utilities of the token in the GangstaBet ICON universe. $CROWN will be used in Stories, Mobs & Police Units & Phase 2 (not announced yet). It will also be used as a reward for staking & participation. In the future, holders can signal support by voting on proposals using $CROWN.
What about the $GBET token?
$GBET token is a critical part of the GangstaBet NFT, which can be used to change the name and upgrade the skills of GangstaBet NFTs. Due to its highly deflationary nature, the tokens are set to be very scarce. The governance token ($CROWN) will have no impact on the $GBET token, it will rather be complimentary.
For example: to create a story, you will need to burn 12 $GBET and pay 25 $CROWN whereas to hide a story you will need to burn 360 $GBET and pay 450 $CROWN. The tokenomics are designed to create value in both the NFT and the ecosystem, which means both $GBET & CROWN will be used extensively in the GangstaBet universe.
How will the node rewards be used?
We thought long and hard about how we can help build the community with the ICX rewards that ICON provides us. One possible way was to share the ICX rewards directly. It definitely is something that we could do to push ourselves to the top, but it doesn’t help the ecosystem in the long run. We want to create value, esp. exponential value for the holders of the $CROWN token. Hence, we decided to put the node rewards back in the liquidity pools of $GBET & $CROWN tokens for a stable & liquid price of the tokens.
This will greatly benefit the holders of GangstaBet NFTs, $GBET tokens & $CROWN tokens. If you are a true believer in the GangstaBet project, we highly encourage you to stake and vote for us. If you want to be rewarded with $CROWN tokens, you should vote for us.
Will there be more monthly token reward pools?
Yes, we will provide monthly $CROWN tokens rewards from our Staking/LP Pool (27%). For the first month, the reward pool will have 1,000,000 $CROWN tokens. We will publish the amount of $CROWN tokens that will be in the monthly reward pool at the starting of each month. You can expect to receive monthly rewards for up to 2 years or until the community decides.
When will we receive the tokens?
You can expect to receive the rewards in your wallet by the end of December.
When will the tokens be available in DEX?
The tokens will be available in DEX by the end of December.
Website: https://gangstabet.io/
Twitter: https://twitter.com/_GangstaBet
Telegram: https://t.me/joinchat/cBvFbCG2HvY1NWUx
Discord: https://discord.gg/9jkyefW9kU
Medium: https://gangstabet.medium.com/
Email: hodl@gangstabet.io
