6th GRAM Token Issue Update
December 6th, 2023
Today, I am here to share the reward plan for our initial holders, and we genuinely appreciate your patience. The GALAXIA Metaverse’s issue led to dumping, contrary to our expectations for this partnership to strengthen the GRAM ecosystem in the long term, posing a significant challenge for us. However, we couldn’t allow it to undermine the fundamental strength of our ecosystem. Thus, we have decided to redistribute a partial buyback amount to our GRAM DAO, who stood strong with us, and burn a partial amount.
We have retrieved about 1/3 of the dumped amount, which will be allocated as follows:
- Return to initial holders: 2M GRAM
- Giveback Community Event in 2024 1Q: 200K GRAM
- Burn: 50% of the remaining amount
- Reserve until the end of 2026: 50% of the remaining amount
The initial holder rewards plan is as follows:
- Reward qualifiers: sGRAM holders on November 17th at 01:43 (UTC+9)
- Distribution: Equal monthly airdrop from April to August 2024
This is how the rewards will be calculated. If holder A had 200K sGRAM on Nov 17th at 01:43 (UTC+9), representing 20% of the total sGRAM pool, holder A will receive 2M * 20% GRAM in total, which will be distributed evenly over 5 months through the airdrop. For the details, please check the Google Sheet (https://bit.ly/442Oeco)
The good news is that NIM’s user base is growing, and our Twitter followers have exceeded 10K. We will focus on expanding the GRAM ecosystem through ‘Juicy Adventure’ and CEX listing by next year. Additionally, we’ll concentrate on promoting GRAM and our community, with the 200K GRAMs being used effectively.
Our buyback plan is ongoing and taking longer than initially anticipated. Further buyback amounts are subject to be reserved and burned only. Also, negotiations with our partners are not finalized yet, and we are actively advocating for our holders. Thank you for your support as we navigate through this challenging period.
