GMI is the native token of the GonnaMakeIt NFT Marketplace, set to launch in Q2 of 2023. GMI will have an initial airdrop for the purpose of jump-starting the marketplace’s user base to thousands of users from day one. The airdrop will be rewarded to:
- All OpenSea users based on their volume on OpenSea since its inception
- All users who hold NRG coins
- All users who hold ETH coins
- All users who staked LOOKS tokens on LooksRare and/or holds LOOKS
- All users who staked X2Y2 tokens on X2Y2 and/or holds X2Y2
- All users who hold UNI tokens
- All users who holds xSUSHI for staking on Sushiswap and/or holds SUSHI tokens
After the airdrop, we will provide powerful incentives for users to lock-up their tokens in GonnaMakeIt farming pools. This creates deep liquidity for GMI and significantly reduces market supply.
Our goal with tokenomics is to maximize user capture and maximize token price as well. While other NFT marketplace airdrops have been successful, there were several extremely valuable components they missed, which we have implemented in our model. Besides that, we pride ourselves on the quality of our products which we’ve proven over the years, including having a platform with exceptional design, user experience, and top-notch support and the best anti-cybercrime security protocols in the space.
1.1. Major Advantages of the GMI token vs. Competitors
Powerful lock-up incentives to maximize token price. The majority of the GMI tokens (69%) is released through farming rewards, with rewards skewed strongly towards those locking for long periods of time (i.e. 6.9 years). This significantly reduces the available token supply. Our major competitors did not implement such a lock-up model and thus have faced significant selling pressure, reducing the valuation of their tokens.
No incentivized wash trading. All of our incentives are geared towards real value adds (such as increasing liquidity for the GMI-ETH trading pair and liquidity incentives NFTs listed on GonnaMakeIt).
Security. GonnaMakeIt and the GMI token will exist on both the Ethereum and Energi blockchains. On the Energi blockchain, GMI will benefit from Energi’s industry-leading security, in which we have virtually eliminated blockchain crime. Given crime is the worst problem facing NFTs, the GonnaMakeIt Marketplace is a disruptor in the NFT space and hugely valuable to the many brands who want to get involved in NFTs.
2. Emission Schedule
A total of 100 Billion GMI tokens will be minted over 33 years. The GMI tokens will be minted on the Ethereum chain as a utility token. Part of the minting will be on a scheduled basis to fund the Treasury. The remainder will be minted when users claim their rewards. A smart contract will govern the release schedule and cap the total emission to 100 Billion GMI tokens over 33 years.
In the first year, 10 Billion GMI tokens will be minted, with the emission reduced by 10% each year (thus 9 Billion GMI in year 2, 8.1 Billion GMI in year 3, etc.). All unclaimed or unminted tokens will be minted in the 33rd year.
The graph below shows the projected emission of GMI tokens over the 33 years.
3. GMI Token Allocation
|Category||Description||% Supply||Total GMI|
|Seed Round||Funds allocated to Seed Round investors.||0.5%||500,000,000|
|Airdrop||Funds allocated to the Airdrop program.||0.5%||500,000,000|
|Initial Treasury||Funds available for use by the Treasury 3 months after the token generation event.||1%||1,000,000,000|
|Treasury||Funds allocated for investors, product development, marketing, ecosystem adaptation, team growth, NFT liquidity rewards, and liquidity for GMI liquidity pools.||29%||29,000,000,000|
|Farming Rewards||Funds the GMI Farming Rewards program which incentivizes investors locking up liquidity in the GMI-ETH liquidity pool for periods of 6 months up to 5 years. Tokens will be paid out at the end of lock-up periods.||69%||69,000,000,000|
4. Platform Fee Distribution
GonnaMakeIt will initially launch on the Ethereum blockchain, then on the Energi blockchain soon after. Platform fees will be 1.9% at launch (minus referral rewards), but will gradually reduce over time as needed to remain competitive. On the Ethereum blockchain, most NFT trade fees will be paid in ETH. On the Energi blockchain, most fees will be paid in NRG.
4.1. GonnaMakeIt on the Ethereum Blockchain
4.2. GonnaMakeIt on the Energi Blockchain
5. GMI Token Distribution
5.1. Seed Round
Only 0.5% of the total token supply (500 Million GMI) is available to seed investors. The seed round token allocation will be fully unlocked from the time the token launches, though seed round investors have the opportunity to participate in locking up tokens in the farming pools if they choose.
5.2. Initial Treasury
1 Billion GMI tokens will be initially minted and allocated to the Treasury. These tokens will be used as needed to kick-start GonnaMakeIt’s growth.
29 Billion GMI (29% of the 100 Billion GMI tokens maximum supply) are allocated for the Treasury. These tokens will be released gradually in proportion to the rest of the coin emissions. To extrapolate: In year one, 2.9 Billion tokens will be released to the Treasury (of the total 10 Billion tokens emitted). The funds from the Treasury will pay for product development, marketing, ecosystem adaptation, team growth, NFT liquidity rewards, and liquidity to GMI token liquidity pools.
500 Million tokens will be distributed via the GMI Airdrop. The number of tokens a user receives will be in proportion to the percentage of the following:
|Eligibility Criteria||GMI Airdrop Base Amount|
|OpenSea||Total ETH Volume in OpenSea||100M|
|NRG Diamond Hands||Total NRG coins held||40M|
|ETH Stacker||Total ETH coins held||40M|
|LooksRare||Total LOOKS tokens staked in LooksRare||5M|
|X2Y2||Total X2Y2 tokens staked in X2Y2||5M|
|Uniswap||Total UNI tokens held in Uniswap||5M|
|Sushiswap||Total SUSHI tokens held in Sushiswap||5M|
The base amount of GMI will increase by bonus multipliers. Look at the GMI Airdrop guide to determine your bonus multiplier.
To be eligible for the airdrop, the user must also meet the following criteria:
- List two or more NFTs on the GonnaMakeIt Marketplace
- Listings are active and executable on the GonnaMakeIt Marketplace
- Listing price is within 1.2 times the global collection floor price
Example: if a user’s wallet is responsible for 0.01% of all OpenSea volume, that wallet would be eligible to claim 0.01% of the GMI Airdrop base amount (17,000 GMI tokens).
All unclaimed tokens will be sent to the Treasury.
5.5. Airdrop Referral Program
The purpose of the Airdrop Referral Program is to maximize awareness of the airdrop and ultimately to maximize the community size. A user can invite friends and family to the GMI Marketplace Airdrop and in return, receive GMI tokens for the referral if the referee qualifies for the airdrop. Users will get a 20% bonus on the airdrop of those they successfully refer, and the referee will also receive a 20% bonus. Thus both parties benefit. Additionally, referral bonuses go three levels deep, so friends-of-friends can also benefit from high-value referrals in their extended network.
|Level 1 Referee||20%|
|Level 2 Referee||10%|
|Level 3 Referee||5%|
5.6. Farming Rewards
Farming rewards are the bulk of coin emission and have been thoughtfully designed in that those who are locking up for 6.9 years will receive triple-digit APYs for what we expect to be at least several years.
Farming rewards are earned by users locking up Liquidity Provider (LP) tokens which they receive from providing liquidity to the GMI-ETH pool on Sushiswap. The rewards are strongly skewed to longer lock-up periods to maximize token valuation. Rewards multiply when they are locked up for a longer period. For example, a user will earn a higher Annual Percentage Yield (APY) by locking their tokens for two years vs. a user who locks up their tokens for one year, claims their reward at the end of the one year, and then locks up for another one year. Thus, it is more advantageous to lock up for a more extended period than lock up for shorter periods and compound.
To farm LP tokens, a user must first provide liquidity to the GMI-ETH pool on Sushiswap. Then users can lock-up the LP tokens in one of the farming pools listed below. Users have to lock-up the LP tokens for the entire duration. Users cannot withdraw their funds before the farming pool period ends. Users will also continue to accrue rewards from fees from the GMI-ETH liquidity pools while farming LP tokens.
LP tokens will be in an unlocked state once the farming pool ends, allowing users to claim the rewards. Users will need to lock-up the unlocked LP tokens in a farming pool again to start a new farming period.
5.7. Listing Reward
GonnaMakeIt has a reward program for listing NFTs on the marketplace, funded by the Treasury. The following are the eligibility criteria:
- List two or more NFTs on the GonnaMakeIt Marketplace
- Listings are active with executable orders
- Listing price is within 1.2 times of the global collection floor price
Every 20 minutes, we will determine the top 30 collections by volume and will award GMI tokens to the collection holder accounts. The rewards will accumulate and can be claimed at any time. There is no limit as to how much an account can receive.
In the first year of the program, a total of 30 Million GMI tokens are planned to be distributed from the Treasury for this purpose. This is subject to change based on the level at which GMI finds the best balance between liquidity rewards and liquidity of NFTs listed on the marketplace.
5.8. Buy-side Liquidity (Planned Feature)
After launch, GonnaMakeIt will add a buy-side liquidity feature to the marketplace. While current NFT marketplaces offer sell-side liquidity incentives, no one is offering buy-side liquidity incentives, which we see as crucial to create a liquid market for NFTs. These rewards will have many similarities to sell-side liquidity in terms of how rewards are paid out. This is a top priority feature addition for GonnaMakeIt, which our team will implement on post-launch.