Gelato coin issuance time

Understanding the Gelato Coin Issuance Timeline: A Comprehensive Guide

Key Points:

• Background on Gelato Network and its Tokenomics
• Initial Coin Offering (ICO) Details
• Subsequent Funding Rounds and Token Releases
• Gelato Coin Distribution and Token Allocation
• Gelato Coin (GEL) Utility and Value Proposition

Background on Gelato Network and its Tokenomics

Gelato Network is a decentralized network that automates tasks in any blockchain, enabling users to interact with applications and protocols without active participation. Its governance token, Gelato Coin (GEL), plays a crucial role in network operations, including fee payments, staking, and voting on governance proposals.

Initial Coin Offering (ICO) Details

The Gelato Coin ICO was conducted from March 8 to April 20, 2021. It offered 600 million GEL tokens for sale at a price of $0.20 per token, raising a total of $120 million in funds.

The ICO allocation was distributed as follows:

• 40% (240 million GEL) to ICO participants
• 25% (150 million GEL) to the team and advisors
• 20% (120 million GEL) to a treasury fund
• 15% (90 million GEL) to Gelato's community

Subsequent Funding Rounds and Token Releases

Following the ICO, Gelato Network conducted two subsequent funding rounds:

• Series A: In September 2021, Gelato raised $11 million in a Series A funding round led by IOSG Ventures and SNZ.
• Series B: In June 2022, Gelato closed a $24 million Series B funding round led by Dragonfly Capital and Polychain Capital.

These funding rounds did not involve the issuance of additional GEL tokens.

Gelato Coin Distribution and Token Allocation

According to Gelato Network's tokenomics, the total supply of GEL is capped at 1.2 billion tokens. The distribution of the tokens is as follows:

• Circulating Supply: 560 million GEL
• Team and Advisors: 210 million GEL (vested over 48 months)
• Treasury Fund: 160 million GEL
• Community: 120 million GEL
• Liquidity Incentives: 100 million GEL
• Reserve: 60 million GEL

Gelato Coin (GEL) Utility and Value Proposition

GEL serves several key functions within the Gelato Network ecosystem:

• Fee Payments: Users pay fees for executing tasks and using Gelato's infrastructure with GEL.
• Staking: Node operators can stake GEL to participate in the network and earn rewards.
• Governance: GEL holders have the right to vote on governance proposals that shape the future of the network.
• Value Capture: As the network grows and its services become more popular, the demand for GEL is expected to increase, potentially leading to an appreciation in its value.

FAQs Related to Gelato Coin Issuance

Q: When was the Gelato Coin ICO held?A: March 8 to April 20, 2021.

Q: How much money was raised in the Gelato Coin ICO?A: $120 million.

Q: What was the price of GEL during the ICO?A: $0.20 per token.

Q: How many GEL tokens are there in circulation?A: 560 million.

Q: What is the maximum supply of GEL tokens?A: 1.2 billion.

Q: What are the use cases for GEL?A: Fee payments, staking, governance, and value capture.