1. What is GGT?
GGT (GARD Governance Token) serves as the decentralized governance token on Hashgard public chain, which is used to build up and promote DeFi ecosystem on the public chain. GGT Holders weTo make it simple, GGT is DeFi governance token of the Hashgard public chain, which is similar to JUST (TRON) and WGNT (WaykiChain).
Hashgard is a new generation decentralized financial public chain invested by 80 well-known investment institutions. The public chain is independently developed based on the underlying technology of Cosmos, equipped with the first high-performance virtual machine in the Cosmos ecosystem, and will realize cross-chain financial interaction through IBC protocol. The goal is to build an open, highly scalable, secure and reliable decentralized financial ecosystem, and become the infrastructure of a trillion-level digital asset market.
At present, Hashgard public chain mainnet has been launched, and more than 45% of mainnet GARD is staked on Hashgard public chain.
Hashgard’s new generation of DeFi public chain is featured by:
Support IBC protocol to realize cross-chain
Developer-friendly, compatible with Ethernet EVM
GGT, realizing community governance
GGT total supply reaches 1 billion without any additional issuance, of which 20% is generated by mainnet GARD staking, 40% distributed for various on-chain DeFi applications, 20% for ecosystem construction, and 20% for the team rewards.
Currently, GGT circulation ratio amounts to 70.7%.
Check the circulation ratio announcement:
2. How to get GGT
Stake the mainnet GARD to mine GGT.
The GGT used for node mining, which is 200 million GGT, will be fully mined within one year. Halving mechanism will be applied. A total of 13.33 million GGT was mined in the first half of the year and 6.67 million GGT was mined in the second half of the year.Before halving, each block produced 24 GGT, and after the halving, each block 12 GGT.
GGT is already listed on Hotbit.We can also buy GGT on Hotbit.
3. About GGT perspectives
GGT value is actually linked to DeFi protocol developped on Hashgard public chain. The more DeFi protocols and the more GGT application scenarios.
We are about to launch some decentralized protocols, including decentralized mining, decentralized governance (DAO), decentralized exchanges (DEX), decentralized lending, decentralized funds, Decentralized stablecoins, decentralized lottery, etc.
In these applications, GGT will serve as governance token.
In addition, there will be many DeFi DAPP games on Hashgard public chain in the future. In these games, GGT will also be used as governance token.
GGT is also required to issue tokens on Hashgard public chain. Hashgard token issuance model is different from Ethereum. In order to protect the authority of the issuer and avoid the emergence of many worthless tokens, the token issuer is required to set up the node on its own (appoint someone else to build up the node).
SGO procedure:
1. Own a self-built node
2. Stake mainnet GARD and GGT to the node
3. Community members can obtain the tokens by staking GARD. Correspondingly, part of the mainnet rewards generated by staking GARD will be distributed to nodes (asset issuers), and the commission ratio will be determined by the issuer.
This model is unique to Hashgard and GGT plays an essential role.
4. GGT is a new token generated from Hashgard public chain. So what is the relation between GARD and GGT?
Hashgard public chain has generated two tokens. The first is called GARD, which is our mainnet token. It serves as the governance token of the public chain, and assumes the basic functions of the public chain. GARD will be used for governance, such as public chain voting,proposals and so on.
But in fact, Hashgard is a DeFi public chain, and more applications will be displayed on our new DeFi protocols in the future, including decentralized lending, decentralized funds, decentralized lotteries, decentralized Deposits and other protocols.
Among these DeFis, GGT will play the role of governance, usage, and proposal. For example, the Farming game Dapp to be launched next week will use GGT as the circulation tokens. The future decentralized lending protocol to be released, the staking assets need to be GGT, and the interests are also GGT. The interest rates and dividends in this protocol are all linked to GGT.
Hashgard to Ethereum, is GARD to ETH, and ETH can be used to govern the Ethereum public chain. GGT is positioned as Uni or Comp, which is specifically used to regulate internal protocols, and also circulate.
Therefore, GARD and GGT are complementary.
5. Do you have long-term partners in terms of code auditing and code security?
Code security is very important to any DeFi public chain. So in fact, back in 2018, we have reached cooperation with SlowMist. SlowMist is also our long-term code audit partner.
Check the related announcement：
6. When will GGT mining end?
The total amount of GGT generated from staking mining reaches 200 million, and the mining period lasts 1 year. It starts on 5th August(public chain goes alive), 2020 and will end on 4th August, 2021.
7. When Hashgard launches its own Dapp?
Next week, we will launch the first original Farming game on Hashgard pulic chain. The previous Farming game is generally featured by staking and mining, but we add a random number mechanism. During the farming, someone wins and someone bears losses.
This game is about the discovery of a mine in the west, and everyone rushed to the mine for gold. In addition to contracting the mining pool, the users can also invest in various mining pools.
Users stake GGT to generate a random number. The random number refers to the changes in the mineral wealth. It may increase the minerals, or it may decrease the minerals caused by security accidents,etc.
All the steps included in the farming game should be carried out through GGT, such as contracting mining pools, investing in mine pool, as well as the rewards obtained, and the relief funds received in case of bankruptcy.
Therefore, this farming game is actually the first GGT application scenario.
Although the game is not online yet, we can show you some screenshots.
8. Here comes a question from the community. They want to know whether GGT only participates in the decentralized exchanges governance or meanwhile participates in Hashgard public chain governance?
GGT is used as a DeFi protocol governance token, not only for decentralized exchange governance. This is a very important part of GGT application scenario, as explained in the previous question, GGT will also serve as governance tokens for various on-chain DeFi protocols, such as decentralized lending and decentralized deposits.
GARD serves as Hashgard public chain governance token, which are different from DeFi protocols.
In this regard, it is similar to Ethereum. ETH is dedicated to the governance of the entire Ethereum public chain. However, various DeFi protocols on Ethereum, such as Compound,Uniswap and AAVE, have their own governance Tokens, rather than Ethereum. GGT actually brings together the application scenarios of Comp, Uni, and AAVE.
9. When will the decentralized exchange be implemented? It seems that the community is very concerned about the decentralized exchange.
We all witness the Uniswap boom this year, thus the value of decentralized exchanges. We are also working hard on this issue.
We have released GGT roadmap before. The actual working schedule will be slightly different from the roadmap due to various factors, the overall direction will not change.
Here is the GGT Roadmap:
10. The transaction fee of Hashgard public chain is not a problem at present. How to attract more people to participate in the decentralized protocols on Hashgard public chain? This is a big issue. For example, how does Hashgard decentralized exchange maintain its transaction depth and how to attract more people to trade?
The first advantage lies on the cross-chain technology in the Cosmos ecosystem.
With the renewal and upgrading of Cosmos starport at the end of this year, cross-chain technology will be truly applied in the Cosmos ecosystem. In fact, many popular chains now belong to the Cosmos ecosystem, such as Binance smart chain and OK smart chain and of course Hashgard.
In the future, our DEX will be able to support multiple tokens in multiple ecosystems including Ethereum and Cosmos and enable a larger ecosystem.
For a decentralized exchange, these factors are essential: gas fees, transaction depth, and the speed of transaction matching.
What are the advantages of Hashgard decentralized exchange?
Firstly, Hashgard transaction fee only charges 1 GARD, which is like 10% of Uniswap and 1% of Ethereum. Network congestion will not appear on Hashgard public chain at present. Hashgard public chain enables almos instant token transfer experience at present.
As for the transaction depth issue, we will learn from Uniswap to support liquidity mining. Liquidity providers will get GGT incentives.
It goes the same way with decentralized deposits and decentralized lending. We focus on the Cosmos cross-chain technology, which allows us to support various tokens. In addition, transaction goes faster with lower gas fees.
11. Some GGT holders have already started GGT transactions on Hotbit. So does GGT shares the same wallet with GARD?
This question is actually very easy to explain. GGT and GARD are both mainnet tokens and not ERC20 tokens, so we need to use the web wallet of Hashgard public chain. As for your GGT and GARD, should you put them in the same wallet account? It’s all up to you.
Now, we are also working on connecting more wallets to upload Hashgard mainnet token. At present, the web wallet of Math Wallet already supports Hashgard mainnet GARD and GGT, as long as you download the web wallet on Chrome browser.
12. GGT currently has been expanded to which countries and regions? Any plans to expand to other regions, such as North America?
Currently, Hashgard&GGT main community is the English and Chinese community. About 10000 members are active In the English community. We also have about 30 WeChat group of GARD/GGT supporters. In addition, GARD/GGT are largely supported in Russia, South Korea, and Vietnam. Below shows the photos from the Russian supporters:
And in the past year, our Indonesian community has also been very popular as we listed GARD on Indodax, the largest exchange in Southeast Asia. About 2 million Indonesians, Malaysians and Filipinos participated in trading on this exchange, which can be seen as the Huobi of Southeast Asia. On Indodax, only 8 tokens support USDT trading pairs, such as Bitcoin and Ethereum. GARD IS ONE OF THEM, Which proves that Hashgard has lots of supporters in Indonesia.