PRESS RELEASE: GRIDNET OS Tokenomics Update and Strategy for Sustainable Growth
Global, [12/9/23] - In the ever-evolving landscape of decentralized technologies, the GRIDNET team remains committed to ensuring the long-term health and sustainability of the GRIDNET OS ecosystem. Today, we present crucial updates on our Tokenomics model and our roadmap towards integration with exchanges.
1. Prioritizing the GRIDNET OS Ecosystem’s Health:
Understanding the imperative nature of the economic structure of our ecosystem, we are prioritizing its long-standing stability. We embarked on our journey envisioning an Initial Exchange Offering (IEO) aiming to generate over 200M USDT. However, candid discussions with numerous exchanges projected a more modest, yet realistic expectation of 70-300K USDT. Given this scenario and our commitment to maintain autonomy, we chose to independently manage this fundraising stage, achieving an overwhelming response with the demand outstripping the supply cap of 300K USDT.
2. Revisiting Token Issuance Rules:
To fortify the economic foundation from the outset, we’ve collaborated closely with our valued community members, investors, and Operators to reassess token issuance norms. The original 360GNC block reward, leading to a potential 71.42% inflation in the first month, has been thoughtfully reduced to 90 GNC per block. This recalibration is imperative to bolster a resilient and thriving ecosystem around the GRIDNET Coin (GNC), modeled with inspirations from Ethereum but offering an expanded suite of capabilities.
3. Addressing Network Dynamics & Ensuring Security:
Given GRIDNET OS’s current early-stage nature, fluctuating node participation is expected. Variabilities in Proof of Work, marked by periods of dominant laptop-class GPUs replaced intermittently by powerhouses like the 4090 RTX mining rig, could pose network vulnerabilities. To counter potential network abuse and temper disproportionate selling pressure post-exchange integration, a two-month vesting period for minted GNC is being introduced. This measure, temporary in its design, is expected to stabilize the computational prowess of the network and uphold its integrity.
In sum, these changes reflect our relentless pursuit of excellence and our commitment to securing a prosperous future for GRIDNET OS. GRIDNET Coin (GNC), underpinning a decentralized operating system’s vision, is set to redefine the way we perceive decentralized technologies.
Thank you for your unwavering trust and support. Together, we build the decentralized future.
For more information, clarifications, or feedback, the GRIDNET Team remains at your service.
In following 48 hours you may expect detailed simulations to be published especially in regards to the forecasted inflation metrics and vesting rules.