> For the complete documentation index, see [llms.txt](https://docs.gmdao.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gmdao.org/the-gm.dao/the-token.md).
# 🪙 The Token
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gm.tokens act as governance tokens of the gmDAO. You'll need to prove ownership to enter our community and participate in our community governance.
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V1 tokens were minted using the ERC-1155 standard on the [Rarible contract](https://etherscan.io/address/0xd07dc4262bcdbf85190c01c996b4c06a461d2430) (Token ID : [706480](https://opensea.mypinata.cloud/ipfs/QmXG7K5cvwozWYmhggCtPio2PgPpVQMR2g1DTtrBeDqto2)) and can no longer be used to access the community nor participate in governance. The same is true of our V2 tokens, which were minted using the ERC-721 standard. However, they can be migrated here[^1] indefinitely onto our V3 contract.
Out of the 75 tokens retained in the treasury under the V1 contract, 45 were set aside as 'community tokens' which are tokens that can be given freely to external individuals who can add value to the DAO. These tokens can only be distributed following a DAO vote.
The last 30 tokens (special tokens) were each given a unique design from friends & artists within the DAO. The first 20 tokens were sold at auction in order to bootstrap our treasury.
#### **V2 token**
The primary reason for our desire to move to a new contract was ownership & control. By deploying our own contract we have the ability to do things such as adjusting secondary sale royalties across all platforms, but we are also immune to changes in market participants such as Opensea or Rarible, who may not be around forever.
Each V2 token has been given a unique design created by [Rich Poole](https://twitter.com/rich__poole) using a generative algorithm that was originally intended for a stand-alone launch! We can’t thank Rich enough for painstakingly putting together over 900 tokens & verifying the quality of each one.
Actual perk of owning a gm.token V2 is being able to participate to DAO decisions, and automatically benefit from being allowlisted for any gm.studio drops as long as the collection size allows it.
#### Special tokens
30 special tokens were used to bootstrap our treasury. They feature unique 1/1 artwork from DAO artists. So far 20 have been auctioned (tokens >#870).
#### V3 token
The V3 tokens have been designed by renowned generative artist Ferdi (), who created the artwork using a visual effect known as pixel sorting. Pixel sorting is the process of isolating a horizontal or vertical line of pixels in an image and sorting their positions based on a number of criteria. In our particular case it incorporated the theme of sun rises / sun sets as a nod to our history.
V3 contracts were needed to implement whitelisting/blacklisting of marketplace contracts, allowing full flexibility in regards to royalties, those being one of the few revenue sources for treasury income.
[^1]:
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