The team detailed the GDCC tokenomics to allow users to understand and appreciate its value. The listing will allow the GDCC project to further its mission of providing a digital asset platform for all users.
The GDCC team decided to implement a strongly deflationary tokenomics model in the form of a buyback and burn mechanism. The coin’s maximum supply is equal to 7,000,000 tokens, with a large part of it (5,100,000) already burned by the project.
Latest Fintech News: DailyPay Announces $260 Million in New Funding
Without the burned tokens, the overall amount of coins now stands at 1,900,000, with 1,018,524 locked in the staking system.
Another important aspect of GDCC tokenomics is the fees that the miners are receiving:
- 50% will go to stakeholders who have already staked their coins
- 50% will fund the project’s ecosystem development
- From Ecosystem Development pool, 7% will be distributed to Seven Stake Pool and 10% will be burnt up to 1,200,000 GDCC and the rest will be the total supply.
The idea is to create a self-sustaining, deflationary system managed by the public with no single entity controlling it. GDCC will be a transparent and community-driven cryptocurrency with strong incentives for users who join its network.
As the team explained, this will be the first blockchain to be managed by the public. Specifically, no individual entity, group, or company will hold any coins in this project.
A burning strategy will reduce the number of tokens, hence increasing the theoretical value of each remaining coin. Deflationary tokens have managed to collect increasing attention from a vast group of investors in the crypto sector.
In this context, it is helpful to consider that the project also has its own stablecoin. GUSD, as the team labeled it, relies on a pegging ratio of 1:1 with the U.S. dollar. This stablecoin will enable users to hedge against volatility, make payments and store their digital assets safely.
The GDCC Token Utility
$GDCC serves as the backbone of the Global Digital Cluster Coin ecosystem. The token empowers users to participate in staking, yield farming, and more. It also acts as a mode of payment for minting, listing, trading NFTs, and more on the GDCC platform.
The project’s ecosystem features an NFT marketplace (“Muzella”), a DEX (“Hopium”), and a metaverse platform (“Global Digital City”).
Each component relies on the GDCC blockchain and provides users with a wide range of investment opportunities. At the system’s core, $GDCC ensures that users have access to a secure and stable digital infrastructure.
For instance, the community can use $GDCC in the NFT marketplace to purchase, sell, and trade digital assets. Additionally, $GDCC is used for transactions on the DEX and participating in yield farming and staking activities.
Latest Fintech News: Coppel Introduces the “Coppel Access” Mobile Wallet That Offers Immigrant-Friendly, Accessible Financial Services
[To share your insights with us, please write to sghosh@martechseries.com]
