🪙 The Token
Last updated
Last updated
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.
V1 tokens were minted using the ERC-1155 standard on the Rarible contract (Token ID : 706480) 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 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.
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 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.
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).
They have additional perks : they guarantee an allowlist slot for smaller collection size, and give you an additional slot (2 total) for larger collections until December 31st of 2023.
