$DGOLD (Governance Token)
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Degen Gold token ($DGOLD) is the governance token used throughout the Degen Islands ecosystem. There is a max supply of 3 billion $DGOLD tokens being introduced into circulation in stages mentioned below at the Token Distribution section. The first token stage unlock is expected to be in May 2022.
The demand for $DGOLD will continue to increase as the number of $DGOLD tokens being used within the gaming ecosystem by developers and gamers grows.
3 billion
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$DGOLD can be: Exchanged for $NUGGETS via the Degen Islands Exchange Exchanged for USDC via the Degen Islands Exchange (via a DEX)
$DGOLD is an SPL token built on the Solana blockchain that serves as the governance token of the Degen Island ecosystem, and has the following uses:
- Trading islands in the Degen Islands Marketplace
- Yield / liquidity farming
- Staking DGOLD for passive income
- Buying props using DGOLD
- Renting advertising space in Degen Islands Central
$DGOLD is a governance token that allows holders to participate in Governance decisions of the platform, using a DAO structure. They can exercise voting rights on key elements such as Treasury grant attributions to content and game creators and feature prioritisation on the platform Roadmap. $DGOLD owners can vote themselves or delegate voting rights to other players of their choice.
$DGOLD allows for staking, which allows for passive revenues on ISLANDS: you get more $DGOLD by staking it.
5% of all transaction volume carried out in $DGOLD tokens (Transaction Fees) shall be allocated with 50% to the Staking Pool as rewards for token holders that Stake $DGOLD tokens and 50% to the ''Treasury''
The role of the Treasury is to support the ecosystem of The Degen Islands
$DGOLD holders may not be interested in governance of the game and may just want the value of their token to appreciate. and play the game. In this case, stakers can allocate their vote to other holders who wish to participate in governance. To avoid a concentration of power within the ecosystem, the number of votes each holder can cast will be limited.
Revenues generated through the Degen Islands will be distributed across 4 stakeholders to provide support to the ecosystems of creators and players as well as to provide the resources needed to grow the market and develop high quality gaming experience.
These 4 stakeholders are:
Designed to ensure that revenue generated through the game accrues value to the token. The token allocation of this Treasury pool will be progressively decentralised as we implement a DAO/Community driven solution towards a decentralised model for the benefit of the token ecosystem.
Designed to provide a yield and value to token holders. Its governance will migrate from a centralised decision in year 1 towards a DAO mechanism in the coming years. ISLAND NFT holders that are also active players will generate an extra yield rewarding their activity.
This represents the $DGOLD that is owned by the company that comes from the proceeds of sales of company owned assets with a 12 months lock-up. The $DGOLD generated through treasury will be sold back to the market to pay operational expenses.
This is the initial company reserve and will be fed with the proceeds of sales of company owned assets with a 6 month lock-up.
Last modified 10mo ago