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gnoland_tokenomics.md

Gno.land Tokenomics

  • Gno.land is the best smart contract platform, a paradigm shift in multi-user programming that no other solution offers.
  • $GNOT is the gas fee and storage lock-up utility token for Gno.land.
  • Every byte stored on Gno.land locks GNOT, turning network adoption into a direct driver of long-term token scarcity. (See more: https://docs.gno.land/resources/storage-deposit/)

Genesis Allocation

  • 1B GNOT issued at genesis, allocated as follows:
  • Airdrop: 70%
  • NT,LLC: 25%
  • ContribDAO: 2.5%
  • GrowthDAO: 2.5%

GNOT Token Sale Round

  • Raising up to $20M at a $480M valuation.
  • Selling up to 41.7M GNOT (~4.17% of the 1B genesis supply) at $0.48 per token.
  • Sale GNOT will be sourced from NT,LLC’s 25% allocation.
  • 1-year lock-up, followed by 2-year vesting.

Economic Model

  • Budget = 5PConstInflation + AllTxFees
  • 5PConstInflation: 5% of GNOT at genesis, forever every year continuously, from genesis.
  • AllTxFees: sum of all tx fees collected.
  • T1T2PayCapacity and ValidatorCapacity must be determined and published by GovDAO.
  • T1T2PayCapacity must be used to pay T1/T2 members only.
  • ValidatorCapacity must be used to pay validators only.

5% Const Inflation

  • GovDAO.PayTreasury must be funded at least 25% of 5PConstInflation if T1T2PayCapacity < 70.
  • GovDAO.PayTreasury must be funded at most 25% of 5PConstInflation if T1T2PayCapacity >= 70.
  • GovDAO.ValTreasury must be funded at least 25% of 5PConstInflation if ValidatorCapacity < 70.
  • GovDAO.ValTreasury must be funded at most 25% of 5PConstInflation if ValidatorCapacity >= 70.
  • GovDAO is responsible for determining what to do with excess budget for above two cases, (such as fund ContribDAO or GrowthDAO).

All Tx Fees

  • GovDAO.ValidatorTreasury must be funded all 100% of AllTxFees if ValidatorCapacity < 10.
  • GovDAO.ValidatorTreasury must be funded at least 75% of AllTxFees if ValidatorCapacity < 70.
  • GovDAO is responsible for determining what to do with excess budget for above case, (such as fund T1T2PayCapacity, ContribDAO, or GrowthDAO).

Reserve Treasury

  • Everything not assigned above goes into the GovDAO.ReserveTreasury.
  • Every transfer from GovDAO.ReserveTreasury must be approved by a GovDAO proposal.
  • Every transfer from GovDAO.ReserveTreasury must go to a specialized common DAO.
  • Every transfer from GovDAO.ReserveTreasury must have accountability measures.

GovDAO.PayTreasury and GovDAO.ValTreasury diversification

  • Diversification away from GNOT from GovDAO.PayTreasury and GovDAO.ValTreasury must not exceed 50% of 5PConstInflation per year.

GovDAO

GNOTDAO

  • All proposals that involve GNOT inflation must first pass GNOTDAO, then GovDAO (bicameral).
  • GNOT Inflation limited to 10% of total GNOT supply per year.
  • GovDAO T1 membership election, in certain cases where T1 membership is inadequate.

References

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