What is the issuance and circulation of Gelato coins?

Key Points:

• Gelato Network's purpose and services
• GEL token economics: issuance, distribution, and allocation
• GEL token circulation: current supply, lockups, and release schedules
• GEL token use cases: governance, payment, staking, and bonding

Gelato Network Overview:

Gelato Network is a decentralized automation platform that simplifies the execution of on-chain tasks. It enables users to create and schedule tasks without the need for constant monitoring or infrastructure. Gelato provides a middleware solution that bridges the gap between smart contract logic and blockchain execution.

GEL Token Issuance:

The GEL token is Gelato Network's native utility token. It is issued as an ERC-20 token on the Ethereum blockchain. The token's initial issuance occurred in December 2021 during the project's Initial DEX Offering (IDO).

GEL Token Distribution:

The total supply of GEL tokens is 100 million tokens, with an initial circulating supply of approximately 10%. The token distribution is as follows:

• Team and advisors: 21%
• Community allocation (IDO): 20%
• Treasury: 20%
• Liquidity providers: 18%
• Early investors and strategic partners: 13%
• Employee buyback: 8%

GEL Token Lockups:

A significant portion of GEL tokens are subject to lockup periods. These lockups are intended to ensure the project's long-term stability and prevent excessive token dumping. The lockups have varying durations, with most tokens being released over a period of several years.

GEL Token Circulation:

The circulating supply of GEL tokens is currently approximately 10 million. The majority of tokens in circulation are held by the community, liquidity providers, and early investors. The remaining tokens are held by the Gelato team and treasury for future development and ecosystem growth initiatives.

GEL Token Use Cases:

The GEL token has several vital use cases within the Gelato Network ecosystem:

• Governance: GEL token holders can participate in the Gelato Network's governance process by submitting proposals, voting on proposals, and participating in discussions.
• Payment: GEL tokens are used to pay for Gelato services, including task execution and oracle data provision.
• Staking: GEL token holders can stake their tokens to earn rewards and support the security of the network.
• Bonding: GEL tokens can be used to bond to tasks, ensuring their reliability and execution.

FAQs:What is the purpose of the Gelato Network?

Gelato Network is a decentralized automation platform that enables users to create and schedule on-chain tasks without the need for constant monitoring or infrastructure.

What is the total supply of GEL tokens?

The total supply of GEL tokens is 100 million tokens.

When was the GEL token IDO?

The GEL token IDO took place in December 2021.

What was the initial circulating supply of GEL tokens?

The initial circulating supply of GEL tokens was approximately 10 million tokens.

What are the lockup periods for GEL tokens?

GEL token lockups have varying durations, with most tokens being released over a period of several years.

What are the use cases of the GEL token?

The GEL token has several use cases within the Gelato Network ecosystem, including governance, payment, staking, and bonding.