Profile: 24119e2c...
ERG_Armeanio - RT @Bitpanda_global: Are you ready for our chat with the team behind @Ergo_Platform? 🚀
Set a reminder so you don't miss it and leave questions you want our host @schoisistar to ask down below 👇
ERG_Glasgow - RT @Bitpanda_global: Are you ready for our chat with the team behind @Ergo_Platform? 🚀
Set a reminder so you don't miss it and leave questions you want our host @schoisistar to ask down below 👇
ERG_Glasgow - RT @ErgoMinnow: After hours of dedication from @LiliumErgo +@BananaWarrior__ , I am THRILLED to say that the Sigmanaut's Space Stars mint is now LIVE!
Mint price = 3 ERG
Go to https://t.co/wJ5wxK7hSI
Singleton ID: 68f502321c368ccc85143d1a9ee61991e09b9f344d3e539ed9723ae4a5588f6b
1 NFT per tx https://t.co/8HK8VEprxw
ERG_Glasgow - RT @zkastn: ⁉️WTF IS GORT⁉️
A draft of the GORT tokenomics paper just dropped.
Lets take a look 👇️🧵️
ERG_Glasgow - RT @CruxFinance: Our landing page got a facelift thanks to the hard work of an #Ergo community member who graciously donated their time to redesign those graphics.
Hats off to our dedicated community members for their hard work!❤️ https://t.co/ay1mrEtalV
ERG_Glasgow - RT @zkastn: If you’re new to #Ergo @maritsaart does some really beautiful art.
A good person to follow imo 🌸 https://t.co/D87HJEZ5Jx
ERG_Glasgow - RT @SpectrumLabs_: gm Cardano! Awesome Monday, awesome week!☕️
Airdrop update
1. Testnet airdrop
Participants: 17,437
Reward per addr: 126.136844 SPF
2. Early users airdrop
Participants: 1,000
Reward per addr: 200 SPF
Interface for eligibility check - this week https://t.co/pHHWcpxtnT https://t.co/zGnakihrQz
zkastn - RT @var_epsilon: extraordinary people build extraordinary things https://t.co/7XXexmXCGx
zkastn - 🧵️
$ERG
#Gluon
@Dexy_Ergo
#OraclePoolsV2
#KnowYourAssumptions
WHAT THE F*CK IS GORT !? https://t.co/sHzS2ZiakV
zkastn - RT @Justin_Bons: Most new cryptocurrency projects launch with a "pre-mine" of over 50% now!
It is one of the few areas in our ecosystem where we have moved backwards
Especially for L1s that try to be "money", a skewed distribution can prevent further adoption!
Please stop being so damn greedy
zkastn - RT @PhilippeVleLong: Very informative, as always. https://t.co/NK0Mso8StV
zkastn - That's GORT.
A sophisticated balance of supply, demand, and incentives that promises to keep the gold-pegged defi ecosystem on Ergo healthy and robust.
zkastn - 9/ Additional References:
- Oracle pool 2.0 specification: [Link](https://t.co/f00m0FRqJL)
- Buying back tokens from liquidity pool: [Link](https://t.co/Wl7y8RkoUX)
zkastn - 8/ Total Supply:
50,000,000 GORT tokens will be issued. Yet, the actual supply will always be less than the emitted amount because of the buyback mechanism.
zkastn - 7/ Numbers Breakdown:
1,301,200 GORTs will be released to the Gold Cooperative with 1,051,200 through emission and 250,000 immediately. The latter covers initial expenses and work done pre-launch. The distribution includes allocations to a few individuals(see paper for details)
zkastn - 6/ Tokenomics Summary:
a) 60 GORTs/hr to oracle operators (averaging 2 GORTs/hr per operator).
b) For the initial 2 years, an identical amount goes to Gold Cooperative.
c) 0.2% of fees from products like Dexy and SigGold get sent to the buyback contract which buys back GORTs.
zkastn - 5/ Paying bills:
Gold Cooperative needs to cover expenses. Instead of separate fees, they'll be rewarded with GORTs, aligning their interests with oracle operators. An emission contract will release around 60 GORTs/hr for a 2-year bootstrap period. These GORTs go to the GC DAO.
zkastn - 4/ Feedback loops:
If op operators dump GORTs in the LP, the buyback contract buys them. GORT price then is defined by supply & demand. Additionally, if the GORT price dips, some oracle operators might stop, reducing GORT emission, and potentially stabilizing the price.
zkastn - 3/ Gold Cooperative (GC):
It’s a collaboration of development & marketing teams behind Dexy and Gluon stablecoins. Both these coins will be tethered to gold and will rely on the gold oracle pool. Thus, a 0.2% fee on every Dexy bank mint which goes to a buyback contract.
zkastn - d) Rate of Release:
Embedding constants for ease, with epochs approximated at 1 hour and 31 oracles in play, the system releases up to 60 tokens hourly.
The tokenomics are built on this emission rate.