GATA DAO Latest news
Hello to all: Owners, delegators, friends, and all GATA family
We have a lot to share with you today.
First of all, we would like to thank you for all the joy you give us every day by participating in the DAO, buying NFTs, or delegating your tokens to DAO validators.
We are proud of what we do, proud to participate in the evolution and greatness of the Cosmos ecosystem. But most of all we are proud to have you among us.
As time goes by, more and more of you join the ranks and believe in our ecosystem. (Yes, GATA DAO is a growing ecosystem ).
Today we are proud of our community and the progress we have made in the last few months.
We currently have 5 validators and 1 partner validator.
- Evmos validator : Rank 39 305k $Evmos
- Juno validator : Rank 92 86k $Juno
- Sifchain validator : Rank 47 2249k $Rowan
- Nomic validator : Rank 24 101K$Nom
- Cosmos validator : Inactive ( created Aug 10, 2022)
- Stargaze validator : Obase.vc Partner validator
Our second collection, the Voyager cat is 79% minted, things are progressing well and everyone who bought a Voyager cat will also have rewards like the colonial cats, after first distribution.
The first distribution is coming soon, our development team is finalizing the distribution module as I write to you!
What you need to understand:
As soon as the reward system is activated, there will be no more waiting between the first rewards and the next ones.
Every week we will take the profits made by the validators, transform them into $ATOM and distribute them to relevant wallets (Revenue model)
Every month, total accumulated rewards (Atom) will be distributed to each GATA, proportionally.
We have decided to implement a specific system of self-bond after DAO Governance proposal #8 to continue to grow your rewards but also to continue to provide protection against slashing.
For this we are cutting the reward gathering like this:
- 25 days of reward gathering for distribution to GATA each month.
- 5 days of reward gathering for staking in the validator.
To be fully transparent our slashing protection funds are staked directly in the validator wallet. You can see it anytime.
All the funds of the DAO are also consultable using Ape Board where we have created a specific dashboard that allows to follow the evolution of each wallet we have :
- Evmos validator
- Juno validator
- Sifchain Validator
- GATAc royalties
- Evmos Validator income
- Atom holding wallet for distribution
- DAO treasury
Now it’s time to talk about something new that we will implement soon.
In addition to the $ATOM reward system for NFT Hodlers, we have decided to implement an XP system for NFT Hodlers as well as Delegators.
What will this XP be used for and how does it work?
We are setting benchmark earning for each GATA NFT per GATA validator per month, in $ATOM.
Benchmark reward — Actual distributed reward = XP
Units : per GATA per Month
For Hodlers:
Each week after the Rewards distribution period we will be tallying XP points corresponding to the volume of rewards you have earned.
This XP can be used in the future in many ways :
- Get GATA NFTs as rewards (NFTs that will earn rewards)
- Get partner NFTs or NFTs that we will have purchased at the secondary market (allowing you to expose yourself to the projects you want without having to buy!)
- Get partner tokens A token airdrop from any upcoming partner project
- Get $GATA tokens, who knows? (When eventually our token will be created then you will be susceptible to having a number of tokens thanks to your XP).
- All the future products that we will release will allow people who have XP to enjoy a part of the product.
All the XP mechanics are still to be set up, but we are on the subject, and believe me, you will wish to have your tokens staked with us!
To sum up all the news:
- Implementation of the rewards distribution system
- Creation of a fund tracking tool.
- Reinforcement of the slashing protection
- Implementation of the XP system
- Launch of Atom Validator
Next upcoming article:
More details about ongoing snapshot activity for Juno and Evmos GATA Delegators!
