What is Gourmet Galaxy (GUM) | What is Gourmet Galaxy token | What is GUM token
Gourmet Galaxy is a fusion between a DeFi Yield Farming and a NFTs Gaming dApp, aim at solving the problems that overshadowed Yield Farming platforms.
A little story about DeFi
Since June 2020, DeFi has been the talk of the town, with the adoption of DeFi projects going crazy, as money flow from traditional financial markets into decentralized world. As DeFi grows and Total Locked Value inside DeFi projects going higher, Yield Farming was introduced. And the rest is history.
With the current Quantitative Easing Policy and average saving interest rate of the United State’s bank dropping to near 0%, the idea of earning more than 10% APY suddenly become attractive to lot of institutional hedge funds. Meanwhile, Yield Farming projects with incentives token even raise the APY to more than 100% APY, creates the Yield Farming mania.
But the rise of DeFi and Yield Farming came too fast, and because of that its collapsed shortly just after few months, mostly due to Yield Farming projects internal problems. Hubble, our CEO who has been in the Blockchain industry since its early days and can spot a bubble when he sees one. In his mind, Yield Farming projects faced with some serious problems that cant really be solved at the time: no intrinsic value for Incentives Token, un-friendly UX and hyper-inflation.
And after few meeting with Matrix — our CTO, an idea was born. And we introduce you our latest project: Gourmet Galaxy.
What is Gourmet Galaxy exactly?
Gourmet Galaxy is the combination of an advanced Yield Farming platform and NFTs.
In case you never heard about NFTs, let us remind you about CryptoKitties? Back in 2017, its one of many things that fuel the so-called Crypto-bubble. If you don’t know, CryptoKitties gameplay is similar to the classic Tamagotchi game, but instead of some handheld digital pet, you actually get a Blockchain-digital pet. During the Crypto Kitties hype, some “kitties” actually sold for more than 600ETH ($200,000) approximately). Using NFTs, CryptoKitties gave real value to their digital pets. And thats also what we do with our Incentive Token.
When Hubble and Matrix get together with a couple of friends, they think about a Yield Farming Platform, which tokens has real use cases and intrinsic value. And thats when Gourmet Galaxy was born.
If you still confused about our project and what it does, read more about our product below!!
Product Overview
Gourmet Galaxy is a platform, with 4 main products:
- GUM Swap
- GUM Farming
- GALAXY Markets
- NFTs Universe
Gourmet Galaxy’s team aims to develop a friendly, easy-to-use and high-value Yield Farming platform through the three main products mentioned above.
GUM Swap is our easy-to-use swap protocol, with design inspired by famous AMM-based swap protocol such as Uniswap and SushiSwap. GUM Farm is Gourmet Galaxy’s Yield Farming Platform, that will be introduced in Q1 2021.
Galaxy Market is where you can use GUM to exchange for the Gourmet Galaxy NFT Tokens, with the relatively friendly name FOOD, use them to create planets (PLANET). PLANET is one of the key products of the project, an indispensable thing in the game Gourmet Galaxy: NFTs Universe.
NFTs Universe will be the product that plays a role in gaming the Yield Farming experience, as well as creating intrinsic value for the entire project.
All three products are aimed at one single purpose, to solve the existing problems of Yield Farming, as well as create a Yield Farming platform with high intrinsic value and easy access and ease of use. used to the majority.
An introduce about GUM Swap — GUM Farm
GUM Swap
GUM Swap is our easy-to-use swap protocol, with a design inspired by famous AMM-based swap protocols such as Uniswap and SushiSwap. Using GUM Swap, users can easily swap between GUM and other digital assets. At the moment, GUM Swap supports USDT, ETH, DOT, and there are plans to expand the list in the future.
Under the easy-to-use surface, GUMSwap has its own formula to avoid the shortcomings of other swap systems and achieve the purpose of our platform.
GUM Swap is currently in development, users can use UNISWAP to swap USDT into GUM tokens later.
GUM Farm
GUM Farm is our Yield Farming platform, where users can provide Liquidity in exchange for GUM. The farming formula for GUM Farm can be found below.
Farming Formula
The Liquidity Farming for GUM tokens will open in Q1 2021 until the Total Supply is fully unlocked.
There is a total of 9,950,000 GUM (49.75% of Total Token Supply) available for Liquidity Farming, with the total daily blocks being 6.500 blocks per day. The reward for each block will be fixed at 1 GUM/block.
There will be several pools available for Liquidity Farming, the farming formula for counting is:
APY = (Bp365)/y
where B — average daily block.
p = GUM Price
y = Total Asset Value in pool
GUM Farm and GUM Swap are currently being developed by us. We hope to launch at the same time with lots of good news to the community.
GUM TOKEN
WHAT IS GUM
GUM Token is our ERC-20 utility token, built on top of the Ethereum Blockchain with support for Polkadot Parachains coming in the near future.
GUM is a vital part of Gourmet Galaxy, with a mechanism that is designed to give it value intrinsically tied to the Gourmet Galaxy Platform.
GUM ECONOMIC MODEL
Token Name: GUM
Blockchain: Ethereum
Token standard: ERC-20
Token TypeUtility, Governance
Total Token Supply: 20,000,000
Hard cap ($): $550,000
Initial Circulating Supply: 13.125% of total Token Supply (2,625,000 GUM)
Initial Cap ($): $262,500
Private Sale Token Allocation: 25% of total Token Supply (5,000,000 GUM)
Private Sale Token Price1 GUM = $0.10
Private Sale VestingInitial unlock 40%, vesting 20% every 3 months, starting from the 3rd month
Public Distribution Allocation: 2.5% of total Token Supply (500,000 GUM)
Public Distribution Price1 GUM = $0.10
Public Distribution Vesting: Initial unlock 100%
TOKEN DISTRIBUTION MODEL
PRIVATE SALE : 25%
PR & MARKETING : 2.5%
STAKING REWARDS : 49.75%
ADVISORS : 5%
COMMUNITY : 0.25%
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