[LIMITED TIME ONLY] GDAO STAKING

Special edition NFTs, GDAO rewards, and immutable documentation of your early support in Governor DAO. What more is there to say?

Once the GDAO token is circulating and revenue generation is underway, we are envisioning a “governance vault” where holders can stake their GDAO and earn automated returns as frequent GDAO buybacks funded out of the treasury.

But until then, it’s important to reward our current GDAO holders and supporters, as well as give our community members a place to park their GDAO earned from the mines, claimed from the airdrop, or otherwise: Introducing Loyalty Points (LOYAL)

Stake GDAO, earn LOYAL

Starting next week, GDAO holders will be able to stake their tokens in a separate mine, the “Loyal Mine”, that pays out in Loyalty Points (LOYAL).

The Loyal Mine will run for approximately ten weeks, through the end of March, and represent a unique offering to earn limited time rewards that will otherwise not be possible.

How it Works

Similarly to our other mines, users will be able to approve GDAO, deposit, and start earning LOYAL every block. LOYAL can be claimed as frequently as one likes, with no fees (save for gas costs).

LOYAL tokens are a uniquely designed non-transferrable ERC20 token that was built specifically for this functionality. LOYAL tokens can only be sent to and from whitelisted contracts (ie the Loyal Mine is whitelisted to send LOYAL rewards to the user). This means that participants can accumulate LOYAL passively, but they cannot transfer to another account or sell on the open market.

Instead, participants will be able to redeem their LOYAL for exciting prizes.

What can I redeem my LOYAL for?

Starting in February, an exclusive Governor NFT storefront will open up, allowing users to cash in their LOYAL for limited edition NFTs. There will be four NFTs (Staffer, Representative, Council, and Governor) each representing a different tier and cost.

These NFTs are designed with various privileges in mind for the owners, such as access keys to private chats and GDAO multipliers for completion of surveys and courses (through our Data Aggregation and Academy initiatives). As the Governor ecosystem matures into more robust governance and more nuanced endeavors, these NFTs may similarly expand as access to elevated roles and statuses.

In addition to the NFTs, 50% of all unclaimed GDAO airdrops will be made available to LOYAL holders. This pool will be split 50/50 between a GDAO airdrop (where all qualifying accounts get equal claim) and a swap period where all unspent LOYAL can be redeemed for GDAO.

Anti-Whale Measures

In other projects, these types of campaigns sometimes devolve into a whale game, where the few largest accounts are able to hoard all the rewards for themselves. In order to mitigate this possibility, several specifications are in place so that smaller supporters are not priced out:

• Accounts can only claim one of each NFT (4 total).
• The lowest tier NFT will maintain most of the same privileges as higher tiers.
• Half of the GDAO prize pool is split evenly among all qualifying accounts (based on average stake over the entire duration of the campaign).

Additionally, the redemption contracts (NFT and GDAO) will feature a blacklist. Any individual looking to abuse the campaign by splitting their GDAO across many accounts will be invalidated from earning any rewards.

Where Can I Learn More?

In the meantime… stay tuned! Expect a more in depth writeup on our forums explaining more of the nuts and bolts as well as a follow-up announcement closer to launch which will include additional resources on how exactly to participate.

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