Token issuance constitutes the ecosystem foundation of public chain. The continuous emergence of tokens enable Ethereum ecosystem to grow quickly.
In the near future, we will focus on Hashgard ecosystem construction. According to the Roadmap, Hashgard will officially support decentralized token issuance protocol in the third quarter. Currently, the protocol has been officially launched and already put into use.
Different from the token issuance of other public chains, the issuance mode on Hashgard chain is called SGO, thus Staking Gard Offering, issuance of digital assets through Hashgard public chain.
In order to ensure that token issuance is not abused, some requirements shall be met:
1. You need to set up or appoint to set up a node to become eligible to token issuance
2. You are required to stake a certain amount of mainnet GARD and lock up some GGT
Tokens can be issued in the form of staking, that is, the community members stake GARD to the node and obtain part of the issued token. Correspondingly, part of the staking rewards(GARD and GGT) will be distributed to the node creator. The node creator has the right to set the commission ratio.
For example, a node has issued a token A with a total supply of 100 million, 80% of which is pre-mined and held by the node, and the remaining 20% will be generated from staking mining. Thus, the community will mine 20million Token A by staking GARD to the node.
The node has set the commission ratio (Token: GARD) at 50%. A staker who should have mined 100,000 GARD and GGT (without the commission) will only mine 50,000 GARD and GGT(50%), and the remaining ( 50%) will be Token A. If we set the commission ratio at 100%, then only Token A will be mined, and no more GARD and GGT. All the GARD and GGT rewards will belong to this node creator.
The number of tokens obtained by the staker is still related to the number of GARD staking. The more GARD staked, the more Tokens obtained.
To a certain extent, it is to take out part of the staking rewards to exchange for the issued token. The node has the opportunity to increase the commission ratio and get more GARD and GGT, and for the community, it means more opportunities to participate in early investment.
In order to protect the interests of community members, the token issuer shall stake 10 million mainnet GARD and 200,000 GGT.
200000 GGT will be returned to the node account and 10million GARD will be transferred to the community funding pool, if no problems have occurred within one year, such as disconnection, server deletion, unbinding of self-staked GARD, etc. GARD can be returned to the node account only if the community proposal is succeeded. Once the above problems occurred within one year, GGT and GARD will be transferred to the community funding pool to be locked up, and can only be withdrawn by community proposal.
The proposal can be initiated by any community member, but 66% of the entire network shall vote for approval before it can be passed.
1. About SGO Token trading?
Hashgard only supports token issuance. Token listing needs to be negotiated with the exchanges by the token issuer himself.
2. The number of self-staked GARD and GGT to be locked up will stay the same?
Currently, the number of self-staked GARD is 10 million, and the number of GGT to be locked up is 200,000. In the future, as the market value changes, we will make further announcement.
3. All nodes are eligible to issue the token?
Only the node creator can issue token through SGO. Only the first 21nodes with the most staked GARD can participate in staking and obtain issued tokens. Hashgard official nodes and community nodes are excluded.
4. What are the advantages of SGO?
It can reduce the cost of marketing and community building. In addition, SGO also supports the token issuer to do airdrop to other nodes on the chain according to the staked GARD ratio.
6. The token can be trasferred to the wallet?
The smart contracts of issued token on Hashgard start with GARD. Currently, Math Wallet already supports Hashgard public chain token.
We have made a tutorial video to explain the process to create a node and issue a token.
Please use the video together with the Github documentation.
Currently, Hashgard source code is open on Github:
Mainnet node synchronizing:
Create a validator node
Issue a token