GEMNODE_v3
  • Announcement
    • 👋Community
    • 📆Updates
  • Whitepaper
    • Whitepaper (EN)
      • 🔍Overview
        • Introduction
        • Advantages
        • Network Info
        • Backers & Partners
        • Audit & KYC Reports
        • About Avalanche Subnet
      • ⚙️Network Infrastructure
        • Wallet Setup
        • Mainnet RPC Info
        • Testnet
          • Testnet RPC
          • Testnet Faucet
          • Testnet Explorer
        • Validator
          • Node
          • Staking
        • Smart Contract
        • Mainnet Explorer
        • NFT
        • Specs
      • 📦GEMNODE SDK
        • GEMNODE SDK
        • GEMNODE APIs
      • 🔋GEM
        • About GEM
        • Tokenomics
        • Vesting Schedule
        • Transparency
      • ✅Native Apps
        • GEMNODE Client Interface
        • GEMNODE Bridge
        • GEMNODE DEX
        • GEMNODE NFT Market
        • GEMNODE DAO
        • GEMNODE Scholar
        • Roadmap
      • 💡Bug Bounty
Powered by GitBook
On this page
  • What is GEM
  • GEM Utility
  • Wrapped GEM (WG)
  1. Whitepaper
  2. Whitepaper (EN)
  3. GEM

About GEM

The Soul Of Original Blockchain

PreviousGEMNextTokenomics

Last updated 2 years ago

What is GEM

GEM is the native token of GEMNODE, which plays the major role in empowering the whole GEMNODE ecosystem and distributing network resources properly. For instance, every transaction on the chain will require gas payment with GEM from contract deployment, NFT minting, DEX approval, to asset transferring, etc.

GEM was generated in the ERC-20 standard with a capped supply that applied to burn gas fees steadily. This means the more activities happen on the chain, the more GEM will be burnt through time in an inflationary model. This balance out network resources mostly between network rewards and burnt token to reach an equilibrated state.

GEM Utility

Position
G Token Utility

GEMNODE System

The main and the only payment for gas fees on GEMNODE.

GEMNODE Client Interface

Payment for technical services

GEMNODE DEX

The main reward for adding liquidity and staking

GEMNODE NFT Market

The main payment for NFT

GEMNODE DAO

Enable voting rights and the main reward for voting

Wrapped GEM (WG)

GEM will also exist on other popular chains such as Ethereum, BSC, Arbitrum, Optimism, Polygon, etc. to create a good source of liquidity for users and to enhance its reachability in the format of Wrapped GEM (WG). The plan to deploy WG will be announced in future updates of GEMNODE.

🔋
EIP-1559