Gains Network releases GNS tokenomics plan: Development fund will align with GNS, governance fund transitions to multi-signature

ChainCatcher message, Gains Network contributors and community representatives are collaborating to formulate a plan around GNS tokenomics, which includes 100% of development fund revenue being redistributed to GNS stakers (the development fund currently collects about 16% of platform fees), with GNS tokens as compensation; replacing the current governance fund with a new 6/11 multi-signature, and discarding GNS NFTs, etc. The plan is expected to go live on September 1 or later.

To compensate for the adjustment in development fund fees, Gains Network will mint 1 million GNS tokens as compensation, which, at the current GNS price, is equivalent to 1 to 1.5 years of Dev fund revenue. The minted GNS tokens cannot be sold for at least one year and are eligible for staking to earn protocol rewards.

Additionally, the plan will integrate GNS NFTs into GNS. Previously, 1,500 GNS NFTs were distributed to early community members two years ago, who provided a significant portion of the initial liquidity for the token (>1%). This will mint 3.36 million GNS, increasing the current supply by about 11%. Furthermore, 80/20 of the NFT bot fees will be redirected to GNS staking and oracles, discarding its other functionalities. (Source link)