Gelato coin issuance price, total amount and white paper introduction

With a total supply of 500 million GEL tokens, the protocol aims to incentivize liquidity, reward staking, and foster long-term ecosystem growth.

Dec 29, 2024 at 04:15 am

Key Points:

• Gelato Network Token Issuance and Initial Offering
• Gelato Token Supply and Tokenomics
• Understanding the Gelato Whitepaper

Article Body:

Gelato Network Token Issuance and Initial Offering

• Gelato Network, a decentralized platform for automating blockchain tasks, launched its native GEL token through an initial exchange offering (IEO) in December 2021.
• The IEO was conducted on the Binance Launchpad platform, with 3% of the total token supply being distributed during the sale.
• The GEL token price during the IEO was set at $0.067 per token, raising a total of $4.5 million from the offering.

Gelato Token Supply and Tokenomics

• Gelato Network's total token supply is 500,000,000 GEL.

• The token supply is distributed as follows:

  • 33% to network liquidity (pools and market makers)
  • 24% to liquidity rewards and staking
  • 20% to long-term ecosystem incentives
  • 12% to development and operations
  • 7% to the initial team and advisors
  • 4% reserved for future treasury

Understanding the Gelato Whitepaper

Gelato's comprehensive whitepaper outlines the mission, technology, and economic principles of the network. It covers the following key areas:

• Decentralized Task Automation: Gelato is a decentralized protocol that enables users to automate blockchain tasks called "Ops" using a network of "Node Runners."
• Uses in GameFi, DeFi, and NFTs: Gelato offers a broad range of applications in the GameFi, DeFi, and NFT ecosystems, including in-game quests, automated swaps, and tokenized real estate asset management.
• The GEL Token: The whitepaper describes the role and utility of the GEL token within the network, including incentives for liquidity provision, staking, and governance.
• Node Runner Marketplace: Gelato features a decentralized Node Runner Marketplace, which connects task owners with nodes that execute the required operations in a secure and reliable manner.
• Governance and Tokenomics: The document outlines the governance framework for Gelato Network, detailing token distribution, voting mechanisms, and future plans for community involvement.

FAQs:

Q: What is the current price of GEL?
A: As of May 2023, the live Gelato price is $0.031 with a circulating supply of 390,487,127 GEL.

Q: What is the purpose of staking GEL tokens?
A: Staking GEL allows token holders to earn rewards through liquidity provision and network governance participation.

Q: How can I automate tasks with Gelato?
A: Users can create custom Ops on the Gelato protocol using a visual drag-and-drop interface or through a wide range of integrations with third-party apps.