🪙Tokenomics
MoveGPT uses a dual token system including:
MGPT - The protocol utility token
MGPT is used for multiple purposes as following:
Staking
Providing liquidity
Access to launchpad and exclusive features by locking MGPT
veMGPT - Governance token in the form of NFTs
veMGPT can be acquired by locking MGPT for a certain duration. veMGPT comes with a voting power depending on the MGPT amount and lock-up time.
veMGPT has several use cases as following:
DAO Governance: Voting on improvement proposal, revenue sharing
veMGPT holders will earn yields/rewards
Premium access to analytic tools and project research
The duration of the lock will differ. The maximum period of lock-up is two years, as outlined below:
1000 MGPT locked for two years will receive one veNFT with 1000 veMGPT voting power
1000 MGPT locked for one year will receive one veNFT with 500 veMGPT voting power
veNFTs have the capability to be traded within the secondary markets. As time passes, users' voting power diminishes gradually until it reaches zero upon the completion of the lock-up period. To maintain the voting power, users are required to regularly re-lock their tokens, contributing to the enhancement of the MoveGPT Ecosystem as a whole.
Users can merge veNFTs to receive a new NFTs with higher veMGPT voting power.
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