Token Allocation Update
First step of the GRAM Ecosystem Expansion
Today marks an important update in our journey. We’re here to share a minor yet significant alteration in the $GRAM allocation and the reasoning behind this decision. Dive in for the details!
The total supply and the primary allocation categories of the $GRAM token remain as initially introduced below:
However, in response to the GALAXIA Metaverse hacking incident in November 2023, we’ve implemented a recovery plan, which includes buybacks, burning, and rewarding events for our initial holders and the community. As a result, we’ve adjusted the details within the Private Sales allocation.
Additionally, we’re gearing up for a major Airdrop event in April and May to boost our ecosystem in preparation for a CEX listing, and it requires slight adjustments in the Ecosystem Fund’s allocation. Let’s have a closer look at these changes.
Private Sales Allocation Update
- Initial Private Sales Allocation
The total allocated amount for GALAXIA Metaverse was 38,880,249 $GRAM which is 59.8% of the Private Sales Allocation, and it was released to the market due to the hacking incident in November of 2023. - Mid Overview of Buyback Plan:
As of today, we have retrieved 18,225,607 $GRAM (46.88% of the hacked amount). From this amount, 2,000,000 $GRAM will be distributed to our initial holders starting in April to show our gratitude for their unwavering support and patience (See ‘Initial Holder Rewards’ tab). Additionally, 200,000 $GRAM is set aside for the community event, and 50% of the remaining amount is to burn(8,012,803 $GRAM, 0.8% of the total $GRAM supply, it will be announced once it is burned). The rest will be reserved with no liquidation until December 2026.
Ecosystem Fund Allocation Update
- Why the airdrop event in April and May?
One of our key goals for 2024, as outlined in our Roadmap 2024, is to secure a listing on a major CEX. For us to even start discussing the listing there are certain requirements, and setting up a strong community base is one of them. Thus, we must make our ecosystem more appealing to the general web3 user base, and we could all agree that airdrop event is the best option in the current market. Thus, we are planning on two main airdrop events — Pre Quest Booster NFT Airdrop and Grand Quest $GRAM Airdrop. - Do I need to participate in both events?
It’s entirely your choice, but participating in both is highly recommended! By minting a Booster NFT during the Pre Quest Booster NFT Airdrop, running from April 15th to May 9th, you’ll gain a head start in the Grand Quest $GRAM Airdrop that kicks off on May 10th. For more information on both events, check out the details HERE. - What is the total $GRAM airdrop pool and where is it from?
30,000,000 $GRAM(3% of the total $GRAM supply) from the Ecosystem Fund is allocated for this event along with some $ISK. For the details please keep an eye on the upcoming announcement.
We fully recognize the community’s need for a transparent liquidity report on the $GRAM supply, which is also a crucial criterion for CEX listing. We are actively working on this and aim to share it with you in the first half of this year. Transparency and trust remain our top priorities as we navigate this journey together.
Seeing the GRAM ecosystem grow with each step has been incredibly rewarding. None of this would have been possible without the unwavering support of our initial holders and the community, and we will not cease our efforts to enhance and enrich the GRAM ecosystem. Together, let’s build a brighter future!
