The Grindery ecosystem features two core tokens, G1 and GX, each with distinct utilities aimed at enriching the platform's community and facilitating transactions. The G1 token is a Social Finance (SocialFi) token designed to reward users for community engagement, including activities like referrals and participation in network growth. It unlocks exclusive rewards, access to special events, and other community-driven benefits. On the other hand, the GX token serves as the ecosystem's utility token, simplifying the user experience by allowing for gasless transactions across multiple blockchains. This token streamlines operations within the Grindery wallet, making it easier for users to manage their transactions and engage with the decentralized web. Together, these tokens form the backbone of Grindery's tokenomics, driving user engagement and simplifying transactions, thereby fostering a participatory and efficient community.

Whats is the G1 Token?

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The G1 is a social token that can be exchanged for GX

The G1 is Grindery's social token, with its issuance beginning in early September 2023. Its primary purpose is to incentivize user sign-ups and referrals, the G1 has succeeded remarkably. Today, it represents our broad and diverse user base, boasting over half a million token holders. The first utility case for the G1 token is its role in identifying Grindery's Most Valuable Users (MVUs). These MVUs, determined by their G1 holdings and usage patterns, qualify for the private token sale. In other words, the amount of G1 you hold and how you have utilized it will be a crucial criteria to determine eligibility for some of the private token sales.

The G1 token is set to expand its utility, allowing participation in third-party quests and airdrops and rewarding activities within the Grindery network. In the future, it will also enable the redemption of GX tokens. Notably, the GX token has allocated 28% of its total to the community, primarily for distributing it to G1 holders.

For more detailed information about G1 and GX, including their total supply and issuance, please review the tokenomics.

Grindery One Token (G1) on Polygon: 0xe36bd65609c08cd17b53520293523cf4560533d0

Grindery One Token (G1) on opBNB 0xe36bd65609c08cd17b53520293523cf4560533d0 Token Details

320,001,000 G1s

Name: Grindery One

Symbol: G1

Type: Utility, Social token, Unlimited Supply

Monetary Policy: No Inflation or deflation of token supply.

Standard: ERC-20

Primary Blockchain: Polygon

Secondary Blockchain(s): opBNB

Upgradeable: No

Buy Tax: 0%

Sell Tax: 0%

Open Source: Yes

What is the GX Token?

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GX is the currency that powers all Grindery tools and transactions.

The GX token is a utility token, a universal currency that powers all activities in Grindery. It allows users to pay for gas across all blockchains, enabling them to send, play, swap, bridge, and stake. In short, it is needed for every user for every activity on the network. It also enables token holders to vote and guide the project's future. In short, it tokenizes the entire Grindery ecosystem's value and vision. In our tokenomics, you can learn more about the GX and its utility.

Grindery X Token (GX) on Polygon: 0x8730762Cad4a27816A467fAc54e3dd1E2e9617A1

Grindery X Token (GX) on Ethereum: 0x8730762Cad4a27816A467fAc54e3dd1E2e9617A1

Token Details

1Bn - 1,000,000,000

Name: Grindery X

Symbol: GX

Type: Utility, Fixed Supply

Monetary Policy: No Inflation or deflation of token supply.

Standard: ERC-20

Primary Blockchain: Ethereum

Secondary Blockchain(s): Polygon

Optional:

Upgradeable: No

Buy Tax: 0%

Sell Tax: 0%

Open Source: Yes

Audited by: Halborn

Tokenomics

To ensure you have the most current insights at your fingertips, we're providing a comprehensive overview of our evolving tokenomics. Please note that as we refine our product and adapt to the dynamic landscape of Web3, certain aspects of this document may be enhanced to better serve our community and our platform's growth.

Introduction to Grindery's Tokenomics

At Grindery, we believe in the power of tokenomics to empower our users and drive the decentralized protocols that underpin our platform. Our innovative approach to tokenomics revolves around two core tokens: the G1, a social finance (SocialFi) token designed to reward community engagement and growth, and the GX, a gasless token that facilitates seamless transactions within our ecosystem.

The G1 token is central to our SocialFi model, acting as a catalyst for community-driven growth. By rewarding users for their contributions to network expansion, we're fostering a vibrant, self-sustaining community where every participant is both a contributor and a beneficiary. This social token not only incentivizes user activity but also strengthens the communal fabric of our platform.

The GX token, on the other hand, is engineered to streamline the user experience by offering gasless transactions and simplifying the web3 experience around the grindery wallet. This token is a testament to our commitment to true decentralization, allowing users to interact with the blockchain without friction. The GX token is key to our vision of a wallet that is not only user-friendly but also economically efficient.

Together, these tokens form the backbone of Grindery's tokenomics, enabling a decentralized protocol that is community-centric and user-empowering.

Both tokens are vital to the grindery economy, and both have their unique utilities and benefits.

Let’s dive deep into each of their tokenomics, and explain their benefits.

The G1 and GX Tokens

G1 Token: The Growth Catalyst

The G1 token is our commitment to our community & SocialFi vision.

As the lifeblood of our SocialFi ecosystem, the G1 token incentivizes users to engage in network-building activities, such as referring new members, participating in community quests, and benefiting from campaigns or events with partners. These actions are not only rewarded but are also integral to the communal and collaborative spirit that drives Grindery's expansion.

The utility of the G1 token extends beyond mere incentives. It unlocks access to an exclusive realm of benefits of the ever-expanding Grindery Wallet ecosystem. Token holders can partake in special competitions, enjoy priority in campaigns or events with partners, and embark on unique quests crafted by Grindery and our partners. These experiences are designed to enrich the Web3 journey of our users and cement the G1 token as a cornerstone of a sustainable and dynamic SocialFi environment.

GX Token: The Ecosystem Utility

The future GX token is set to deliver not only common features like staking and governance but also a singular, critical utility: facilitating gas and transaction payments within the Grindery wallet and beyond across all supported blockchains. This utility is designed to simplify the user experience by providing a consistent means of managing transaction costs, regardless of the blockchain network being used. We believe users should not need to care what is the ecosystem token, what their current prices and where can obtain it. With the GX token, you will gain simplified access to all corners of Web3.

Transition from G1 to GX

The transition from G1 to GX represents a pivotal moment for Grindery. G1 holders will have the opportunity to interchange their tokens with GX, integrating them further into the ecosystem's economy. This conversion process is not only a testament to our users' early support but also a key step in enhancing the utility and stability of the Grindery platform.

Notice: The G1 and GX tokens are integral to distinct economies within the Grindery ecosystem, each with its unique utility and advantages. Consequently, the conversion rate between G1 and GX will be dynamic, reflecting the vibrancy and engagement levels of our user community.

The G1 token is designed to propel adoption and reward our most dedicated users, not only with potential GX conversions but also through ongoing community rewards and exclusive campaigns or events with partners. Our commitment is to cultivate a premier Web3 community, actively nurturing positive contributions while vigilantly mitigating fraudulent activities to maintain the integrity and value of our ecosystem.

Token Utility and Use Cases

The utility of a token is a critical factor in its long-term success and adoption. Grindery's tokens, G1 and GX, are designed with specific use cases that not only support the platform's operations but also provide tangible benefits to users.

G1 Token: Incentivizing Engagement

The G1 token's primary utility is to incentivize user engagement and network expansion. It is used to reward users for various activities within the Grindery ecosystem, such as:

Signing up for the Grindery wallet.

Referring new users to the platform.

Holding & Locking G1 brings continuous rewards around the Grindery Ecosystem and its partners.

Access to exclusive rewards and benefits via the Grindery Wallet

Exclusive access to campaigns or events with partners only for locked G1 holders, and exclusive competitions.

Whitelist Access to the best new Web3 protocols and games.

Locking for early access to GX tokens.

The G1 token acts as a catalyst for growth, encouraging users to contribute to the platform's vibrancy and reach.

GX Token: Facilitating Transactions & Simplicity

The GX token, set to be introduced, will serve as the primary medium for transactional activities within the Grindery wallet. Its utilities include:

Paying for gas and transaction fees across all supported blockchains, simplifying the user experience by providing a single token for all transaction-related costs over all chains.

Users who actively contribute to the security and stability of the platform through governance participation and staking will be eligible to receive a share of the revenues.

Providing governance rights, allowing token holders to participate in decision-making processes and influence the future direction of the Grindery ecosystem.

The Network Effect and Token Demand

As Grindery continues to grow and attract more users, the demand for both G1 and GX tokens is expected to increase. The network effect, where the value of the service increases with the number of users, plays a significant role in this anticipated demand. With each new user and transaction, the utility of the tokens becomes more pronounced, potentially leading to a greater utility value.

Cross-Blockchain Functionality

The ability of the GX token to facilitate transactions across multiple blockchains is particularly noteworthy. This feature is designed to address a common pain point for users who manage assets on different networks, as it eliminates the need to hold and manage multiple native tokens for gas fees.

In summary, the G1 and GX tokens are engineered to serve as the backbone of the Grindery ecosystem, driving user engagement, simplifying transactions, and fostering a participatory community. These utilities ensure that the tokens are not merely speculative assets but integral components of a thriving platform.

Economic Model and Token Supply

A well-structured economic model is essential for the stability and sustainability of any token ecosystem. Grindery's economic strategy is designed with a long-term vision, focusing on creating a balanced and robust token supply that aligns with the platform's growth and user adoption.

GX Token Supply

Total Supply: 1.000.000.000 (1 Billion) fixed supply

Name: $GX

Monetary Policy: No Inflation or deflation of token supply.

Core Chain: Ethereum (ERC-20)

Bridge: Multichain token with own contracts

Governance: Via Locking to receive $GXG

G1 Token Supply

Total Supply: variable, controlled by the DAO

Name: $G1

Monetary Policy: variable depending on rewards, backed by $GX

Core Chain: Polygon (ERC-20)

Bridge: Multichain token with own contracts

Governance: Via direct voting

GX Token Distribution

GX Emission Rate and Release Schedule

Token Sale

The pre-sale of the GX token took place successfully from January 15, 2024, to February 1, 2024. This pre-sale, exclusive to the Grindery community, received over 25,000 orders from users. IDO Event date is to be defined yet.

Governance and Staking

Governance

The GX token is not just a means of transaction within the Grindery ecosystem; it also serves as a tool for decentralized governance. Token stakers will have the ability to propose and vote on key decisions that affect the platform, including:

Development priorities and feature implementations.

Changes to the economic model or token utility.

Allocation of community resources and growth partnerships.

Staking Rewards Distribution

The specifics of the rewards distribution will be transparent and aligned with the platform's commitment to fairness and sustainability. A third of the platform's revenues will be directly distributed to stakers which are actively involved in the network's growth and security.

Revenue Model

A sustainable revenue model is crucial for the long-term viability of any platform. Grindery's revenue model is designed to support the ongoing development of the platform while also creating a sustainable tokenomics structure.

Primary Revenue Streams

Grindery generates revenue through a combination of transaction fees and strategic partnerships:

Transaction Fees: Users pay a nominal fee for transactions processed through the Grindery wallet. These fees are competitive and designed to be lower for those who use GX tokens, thus incentivizing the use of the platform's native token.

Strategic Partnerships: Revenue-sharing agreements with on-ramp and DeFi partners contribute to the platform's income. These partnerships are selected to enhance the user experience and expand the range of services offered within the Grindery ecosystem.

Merchants & dApps: As an economic platform to facilitate payments via telegram, several services will be offered for easy onboarding and management of chat-based shops and services, with a per-payment fee that makes it easy for merchants to start.

Innovative Revenue Features

Grindery's revenue model also includes innovative features that set it apart from other platforms:

Gas Token Utility: The GX token acts as a universal gas token within the Grindery wallet, streamlining the user experience across multiple blockchains and potentially driving demand for the token.

Reduced Fees for GX Token Use: Users benefit from reduced transaction fees when using GX tokens, encouraging the adoption and circulation of the native token within the ecosystem.

Marketing Partnerships: The vast community and direct access give a great opportunity for marketing partnerships, i.e. the possibility for dApps to reach their telegram userbase directly, as we are one of the first wallets that always have direct access to their users via telegram.

Revenue Allocation

The revenue generated by Grindery is allocated in a manner that ensures the platform's growth and sustainability:

A portion of the revenue is re-allocated into the platform's development, funding new features, and improvements.

Another portion is distributed to GX token stakers as rewards for their active participation, aligning their interests with the platform's success and encouraging long-term holding.

The remaining revenue supports ongoing operational costs, marketing efforts, and community initiatives.

Future Revenue Opportunities

As Grindery continues to grow and evolve, there are opportunities to expand the revenue model:

New Services and Features: The introduction of new wallet features and financial services can create additional revenue streams.

Increased User Base: As more users join the platform and engage in transactions, the revenue from fees is expected to increase.

Ecosystem Expansion: The development of new partnerships and integrations with other platforms can lead to further revenue-sharing opportunities. Our direct user-access and simplified engagement model build a great platform for other dApps and chains to engage with our community.

Conclusion

Grindery's revenue model is crafted to support a thriving ecosystem that benefits all participants. By balancing the need for platform income with incentives for users and token holders for their active participation and engagement, Grindery ensures a sustainable and equitable economic environment that fosters growth and innovation.

Security and Compliance

In the rapidly evolving landscape of blockchain technology, security and compliance are of paramount importance. Grindery is dedicated to upholding the highest standards in both areas to ensure the trust and safety of its users and the integrity of the platform.

Security Measures

Grindery takes a proactive approach to security, implementing industry-best practices and measures:

Smart Contract Audits: Before deployment, smart contracts undergo thorough audits by reputable third-party security firms to identify and rectify potential vulnerabilities.

Encryption and Data Protection: User data and transactions are protected using state-of-the-art encryption techniques to prevent unauthorized access and ensure privacy.

Continuous Monitoring: The platform is monitored continuously for unusual activity that could indicate a security breach, with protocols in place for immediate response.

Only work with audited partners: All partners of Grindery are required to have the same high-security measurements and conduct audits on a regular basis.

Bounty Program: Grindery has an open bounty program - if you identify any security concerns, please message us at…

Compliance with Regulations

Grindery is committed to full compliance with all applicable laws and regulations in the jurisdictions where it operates:

Know Your Customer (KYC) and Anti-Money Laundering (AML): Grindery adheres to KYC and AML guidelines to prevent illicit activities and ensure the platform is not used for fraudulent purposes.

Regulatory Engagement: Grindery actively engages with regulators and legal experts to stay ahead of the evolving regulatory landscape and adapt its practices accordingly.

User Responsibility

While Grindery takes extensive measures to secure the platform, users also play a critical role in ensuring their own security:

Wallet Security: Users are encouraged to practice safe telegram account management, including activating their 2-factor authentication. Grindery will periodically remind its userbase.

Vigilance: Users should remain vigilant against phishing attempts and other forms of social engineering that could compromise their accounts. Especially sharing screenshots of chats, or sharing passwords is highly risky!

Transparency

Transparency is a cornerstone of Grindery's approach to security and compliance:

Public Reporting: The results of security audits and compliance checks are made public to provide users with confidence in the platform's security posture.

Open Communication: Grindery maintains open lines of communication with its user base regarding security and compliance issues, including any updates or changes to its practices.

Appendix 1: Tokenomics Diagram