GOGOcoin: Introducing the $GOGO Token Fair Launch on Polygon
We are excited to announce the start of the countdown to our token fair launch and IDO on the Copper Polygon platform, a product of the Alchemist ecosystem.
Join us on our journey to the future of finance as we build the most user-friendly open source DeFi protocol for asset management and savings. GOGOcoin is the doorway to DeFi for users to break free from the restraints of centralized finance and join the new financial order. GOGOcoin combines interfaces with a user-centric approach while building on the strengths of decentralized infrastructure. We’re offering a frictionless user experience powered by awesome invisible tech that includes on-chain automation, simple one-click interactions for DeFi, and advanced security via NFT Smart Vaults. We believe DeFi should be for everyone regardless of their personal background or technological abilities.
Now you have the unique opportunity to participate!
GOGOcoin will be one of the first Fair Launches on Polygon via Copper. The $GOGO token will fuel GOGOcoin’s #DeFiMadeEasy revolution! $GOGO will be a true utility token at launch, the utility is for performance fees with governance functions to come shortly after the launch of the GOGOcoin protocol version one.
- The $GOGO Token Sale will happen on December 7th, 2021
- There is no KYC for the copper launch.
- We will announce the token sale details and how to participate in the LBP on Copper in a separate medium article in the next few days.
- For more information make sure to sign up to our mailing list on our website: GOGOcoin.io
- The GOGOcoin team will NEVER DM YOU FIRST over Telegram or via any other channels nor ever ask you for money. If anyone messages you claiming to be the GOGOcoin Team, please be very skeptical and stay cautious.
- Only trust GOGOcoin’s official channels at the bottom of this announcement for information surrounding the token sale.
$GOGO Token Distribution
- Total Supply: 100.000.000 $GOGO tokens
- Maximum tokens in circulation after IDO: 20.000.000 $GOGO tokens (20% of the total supply)
❓ What are the vesting and lock-up periods of investors and the team?
GOGOcoin strategic investors and advisors (combined 13% of the total supply) will have a two-year vesting period with a 3-month cliff and quarterly releases.
Unlocked tokens can be locked again for rewards and boosts in governance (more on that in future posts).
The founding team (12% of the total supply) will have a three-year vesting period with a one-year cliff and quarterly releases.
❓ What are the remaining tokens allocated for?
The token allocation for ecosystem development, legal, marketing, and liquidity supply, as well as LP rewards, accounts for the remaining 55% of the token supply.
These token allocations are designed to ensure:
- The development of the GOGOcoin ecosystem over time.
- Facilitation of a highly incentivized community.
- Value creation for long-term token holders.
- Bounties to reward community enthusiasm, support, and contribution.
❓ What’s the economic mechanism for $GOGO?
$GOGO tokenomics are designed to create a positive feedback loop to drive the ecosystem’s early growth. The $GOGO token will eventually be key to the value accrual mechanisms and management of the GOGOcoin protocol.
GOGOcoin Fee Breakdown
15% Performance fees: Any yields generated will incur a performance fee that will be deducted upon harvest. The performance fees will be collected by swapping the actual fees into the $GOGO token. $GOGO will also be used for future staking or farming products. For instance, as a withdrawal fee or early unstaking penalty.
Early Unstaking Penalty fees: In GOGOcoin V1, users can vest $GOGO tokens for 90 days for more rewards. If stakers on GOGOcoin wish to withdraw their deposits (unstake) before the lockup period ends, they will incur an early unstaking penalty. Penalties only apply to the rewards. So if a user claims their $GOGO rewards before the lock period ends there will be a 50% penalty fee applied to the harvested rewards. Part of the total penalty fees accrued by the GOGOcoin protocol will be returned to the treasury and the other part burned.
0% Deposit fees: The protocol does not charge any deposit fee, thus contributing to maximum cost efficiency for our users in the long term, so the number of tokens you deposit is maintained the second after you deposit. That amount will increase over time as the strategy generates rewards.
Buyback and Burn
We also considered long-term mechanisms to reward our token holders. Of the fees gathered from our users, 50% of them will be burned. To achieve that, non-$GOGO token profit will be traded for $GOGO before it’s burned by sending it to the burn address.
We will be implementing more buyback and burn mechanisms to keep the token supply in check. Initially, this will be done manually. More details on the buyback program designed to strengthen the market potential of the $GOGO token will be revealed in the future.
Liquidity Provision Strategy
Once launched GOGOcoin’s LP Rewards scheme will be divided into different phases to use funds efficiently. We will design the LP rewards to strengthen our ecosystem and ensure the growth of our community by providing incentives to our investors and initial users.
We are creating a game-changing, best-in-class product and want to recognize our early adopters by rewarding them for their support in helping us realize our vision.
The incentive structure is designed to reward our early adopters because our product will immediately generate yield organically and sustainably using LP strategies from across the largest and most respected DeFi protocols in the industry.
Previous experience has shown that the most efficient way to provide liquidity is to incentivize the community through fair risk/reward yields on liquidity provider (LP) assets on decentralized exchanges. Considering this, we believe the best way forward is to provide a flexible reward scheme that allows us to reward our liquidity providers without overspending. We will evolve our reward scheme and maintain sufficient liquidity by managing the LP reward allocations.
If you own a CryptoGOGO NFT then be prepared for some surprise announcements soon. 💚
We are currently a global team of 25+ professionals, spread across 3 continents, with deep crypto/DeFi expertise and with roots in banking, finance, tech, arts, entertainment, and gaming, as well as more than 10 years of experience in building multi-billion dollar tech companies.
Join our Telegram Chat for a chance to participate in airdrops and be the first to receive more details on the sale.
We will be publishing more details soon and holding multiple AMAs and podcasts over the next few days. We will also be announcing partnerships with a few selected launchpads in the coming days.
To keep up to date follow our social channels:
For the legal terms applicable to the token please visit: https://www.gogocoin.io/disclaimer
GOGO Protocol Association