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1. Conversion - Redeeming GND

GND and xGND are mutually convertible into each other, but the process is different depending on the direction.

a. GND > xGND conversion

GND can be freely converted into xGND any time. The process is instant, and the ratio is 1:1.

b. xGND > GND redeem

  • The redeem process to convert xGND to GND implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:
  • The minimum vesting duration of 20 days will provide a 1:0.5 ratio
  • The maximum vesting duration of 200 days will provide a 1:1 ratio
  • If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess GND is burned.

2. Share of protocol revenue:

  • xGND stakers will receive a 20% share of protocol’s revenue in $ETH.
  • 2% of fees will be applied to xGND stakers to remove xGND out of circulation
  • GND Protocol will utilize an RP point system to incentivize long-term stakers

How GND Protocol RP system works:

  • 7,000 RP points will be emitted per 365 days
  • 1 RP point has the yielding power equals to 1 xGND, depending on the staking pool
  • Unstaking xGND means losing all of your RP points.

3. Emission- Directing voting mechanism:

  • Another utility of xGND is to direct emissions to LP token pairs. This is achieved through voting for the pair.
  • Each wallet/user can choose ONLY 1 LP pair to boost emissions by voting with their staked xGND
For example, If the base allocation point of GND - ETH pool is 2000 out of 10000 total allocation points, a staker with 1000 xGND staked can vote for GND-ETH pool, increasing the allocations to 3000 points out of 11000 total. As a result, the emissions go from 20% of total to 27% total. There are many strategies that one can employ with this mechanism, if they are a GND holder, they can vote for GND pairs to receive more emissions => higher APR => more demands. At the same time, other protocols who want to incentivize concentrated liquidity on uniswap v3 can also accumulate xGND to vote for their pairs to receive higher emissions.

4. Access to GMD launchpad:

xGND stakers will also have access to GMD launchpad and projects on GMD launchpad will be incentivized via GND farm.