TurtleCoin gTRTL: Governance Token
And you thought we were done…
You may have read in the blog or heard in the podcasts that v2 will be based on delegated proof of stake from the get go. To be able to bootstrap the network immediately upon launch (when it’s ready) this requires a set of hard-coded semi-permanent validator and producer nodes.
Over the last year, we’ve been trying to figure out the best and fairest way to select who operates those hard-coded bootstrap nodes given that they’ll carry the weight of the network for its initial launch and be rewarded handsomely for doing so. After we opened the swap to wTRTL on FTM we took a look at what FTM would allow us to do and thought, “Hey! What about governance tokens?! Let the community help decide.”. Taking this concept in stride, we have deployed contract(s) for gTRTL the Governance Token for TurtleCoin®.
Contract Address: 0xA064e15e284D5D288281cc24d94DD8ed39d42AA4
So how do you get yourself some of that sweet gTRTL voting power?
Through staking various forms of wTRTL and/or other projects that the community deems as worthy! All stakes are locked for a minimum of 7-days and the longer you stake (up to a year), the more BONUS gTRTL you earn for doing so.
Head on over to gTRTL Staking to get started staking today. Right now, we’re only accepting SpookySwap wFTM-wTRTL LP but the bonuses for staking are MASSIVE (up to 9,800%).
No vesting, no bonding, just votes
Everyone knows that we’re a bit crazy so gTRTL is minted and given to you as soon as you lock with the contract, no “vesting” or claiming required. Once the required lock time has passed, you can get your originally staked assets back by unstaking. gTRTL is given only upon staking your token assets, there are no residual gTRTL drippings.
Built-in voting functionality
gTRTL is an ERC20 token with snapshot properties built in to allow for the capturing of balances at a point in time. Using those snapshot(s) we will be able to conduct votes on the validator/producer selection in the future as well as a few other cool concepts we are working on.
If you have ideas you’d like to contribute, please leave them as a response below, or join us in the Discord Chat
You can review the contract that handles the staking, locking, and minting of gTRTL for stakers and see that there’s no magic withdraw button(s). Only the wallet that staked funds can receive the funds back when they unstake. The contract is also managed by the existing TurtleCoin Developers Multi-Sig Gnosis Safe. Very SAFU.
If you want to know more about what TurtleCoin is, http://turtlecoin.lol
If you want to start mining TurtleCoin, http://mining.turtlecoin.lol