Cursive texts on connections are model parameters controlled by governance. A summary is provided below.
|Emission rate||How much GIISH is minted per block||60 GIISH|
|Emission split||How much of the emission is going to the stakers vs the treasury||80% Stakers / 20% Treasury|
|Mint fee||Fee required to mint||10 GIISH|
|Lock and unlock fee||Fee required to lock or unlock a NFT||Free|
|Cross chain tx premium||Premium paid ontop of Emera ld gas to execute cross chain tx||1 GIISH|
|LP base fee||LP profits fee for treasury||0.05%|
|Fee burning rate||How much of incomming fee is burned||20%|
|Fee stake rate||How much of incomming fee is distributed to stakers||0%|
Actors and actions
|Treasury||Ensure protocol stability, adoption and inflation levels||Can Sell or buy back GIISH|
|Staker||Make profit investing in the protocol and vote on proposals||1. Can buy and sell GIISH 2. Can stake GIISH and earn rewards each block 3. Can vote on protocol proposals|
|Liquidity Provider||Provide liquidity on different chains to earn LP rewards||1. Can buy and sell GIISH 2. Can provide liquidity on different chains to earn rewards|
|Developers||Use the protocol for their marketplaces or develop further features.||1. Can buy GIISH 2. Can pay for their users transaction fees in GIISH|
|Collectors||Collect NFTs with exclusive content.||1. Can buy GIISH 2. Can unlock and lock their collected private NFTs|
Governance and voting
Geniish protocol will be controlled by the community and its users. Everybody holding GIISH can vote on proposals created by the protocol team and partake in the governing of the network. Generally, all parameters used within the protocol can be changed by proposals.
During the development and adoption of the protocol, the team holds the right to proposals and a final decision. This is by controlling the voting rights of the reserve. Which holds 51% of the initial supply. After around one year this will be transferred to the treasury and proposals are open for everyone for a fee.
The treasury is only controlled by governance. Parts of fees and other profits generated by the protocol are transferred to the treasury. GNIISH holders can vote on what happens to these assets.
Scenarios for withdrawing are further development, giveaways and buyback GIISH for burning.
Initial mint usage
Geniish will initially mint 250'000'000 GIISH, which is around 25% of the planned total supply after five years. This will be used to fund and kickstart the development and adoption of the protocol.
|Purpose||Inital mint %||Vesting period|
*During development, the reserve is owned by the protocol team to ensure controller over governance. After the vesting period, all tokens will be transferred to the treasury.