A DAO Token Economic Model

The operation of the protocol has been designed to optimise for:

  • On-chain transparency, value flows, and activity.
  • Computation and accounting handled via relayer smart contracts.
  • A clear & simple pricing model.

By structuring a set of System Variables we enable a future DAO to govern over the values of these variables to manage the operation and value flows of the protocol.

Supply

A total of 33,368,773 was minted during the initial ICO crowdsale allocated to a number of partitions (public, user growth fund, stability fund, team, and bounty). The supply is fixed and no more GET can ever be minted.

To align the interests of the foundation and the community, the stability fund was transitioned to a DAO Treasury Fund in March 2021, wherein 10M GET was burned from the previous stability fund. Along with previous token burns, this caps the maximum supply at 23,368,311 GET. As of March 2021 the distribution was as follows:

Glossary

Before getting started, there are a number of concepts worth orienting on as these will continue to be referenced throughout the documentation. These will be covered in more depth in upcoming sections.

Term

Meaning

Interactions

Any event or change of on an NFT ticket, modifying its history or properties.

Integrator

A user of the protocol. Other than their config the protocol makes no distinction between users, Whether an existing ticketing company, or a user of our white-label product, both are integrators.

Relayer

The contract owned by an integrator, giving each ticket issuer on the protocol their own unique address. Each relayer belongs to a single integrator.

Relayer Silo

The pre-funded GET balance used by an integrator to fund operations. GET is deposited onto the relayer address and then 'refined' into the silo for easier on-chain usage.

NFT Fuel Tank

The GET balance of the individual ticket, used to fund interactions. Funded from the relayerSilo

Depot

The holding balance for the GET to be sent to the fee collector. This is the pending GET balance to be sent to the DAO upon swipeDepotBalance()

Fee Collector (DAO)

This represents the DAO account and will be where the GET is transferred to after being moved from the depot.