Guppy Treat Token
Guppy Treat Token (GTT) is what powers Guppy Paradise. GTT is a utility token that gamifies users' experiences. GTT allows holders to make choices regarding how they interact with our ecosystem. Some of these choices will make Guppies ineligible to earn GTT but reward their holders with special items like Guppy Generals, used in our Crypty Crawler and Paradise Wars games. Through other games and partnerships, the possibilities of what can be gained by owning just one Guppy Gang NFT are endless, providing an experience that allows users to have choices on how to use their GTT allows for a large and diverse community to develop over time.
GTT is deployed on Polygon and uses a hybrid decentralized and centralized approach that allows users to maintain their Guppy Gang NFT on Ethereum Mainnet while earning and claiming GTT on Polygon.
Planned Uses
Utility
Limited cosmetics for Paradise Wars
Guppy Doodle
Cyber Guppy Expansion Versions
NFT Auctions
Whitelist Opportunities
Charity Drives
Guppy Bakery
Merchandise
3D Printed Models of Guppies
Physical prints or paintings
Physical Versions of Cards
Clothing
Plushies
Variables
The GTT contract has been designed to allow our economists and team to make changes in the future should the need arise, the variables that may change are…
Days per treat payout
Treats paid per payout
Events that trigger disqualification
Every 7 days each Guppy Gang NFT will generate 8 GTT, assuming that the Guppy has not triggered a disqualification for the weekly claiming period. A specific Guppy will either qualify to earn all the tokens for the specified week or be disqualified from earning any tokens that week.
The list of events that disqualify a Guppy from earning its GTT for a specific week will increase over time. This will force users to strategize how to use their tokens, thereby gamifying where, when, and how many GTT should be spent or retained for future opportunities.
Events that disqualify Guppies from receiving GTT for a specific earning period
Breeding 2 Guppy Gang NFTs to produce a Guppy General
Listing a Guppy Gang NFT for sale on a marketplace eg. Opensea
Moving a Guppy Gang NFT to another wallet
More to be announced in the future (Guppy Doodle, Giveaways, Allowlist Access, etc)
Will the team create a liquidity pool for or seek exchange listings for GTT?
No, the team can not create a liquidity pool for the token or seek to obtain listings on exchanges directly. Exchanges can always list GTT without direct team involvement. Regulatory considerations and marketplace requirements could be violated, which would be detrimental to the project if broken by having the team directly involved in this process.
Falling under regulatory scrutiny or being delisted from prominent marketplaces would harm the project while in its infancy. While our positions on these topics could change in the future as regulations and marketplace terms evolve or provide more guidance, our present focus is on building a fun ecosystem of games and products for the Guppy Gang brand. The road to success is simple, build entertaining utilities for users, then demand and everything else will follow.
Will the team provide liquidity provider incentives?
We have pre-minted 8 million GTT for potential use as liquidity provider (LP) rewards if the team sees a pool created on a decentralized exchange. These tokens will either be used entirely as LP rewards, partially for LP reward (anything unused will be burned), or all of these preminted tokens will be burned. Before we make a decision regarding these tokens we will have to more carefully consider terms on marketplaces, regulatory consequences, and legal consequences.
In an effort not to delay the launch of GTT these tokens were kept aside in a multi-sig Gnosis Safe wallet until we have had adequate time to carefully evaluate if any or all of these tokens should be used to provide LP rewards. These tokens will not be used for any other purpose and any tokens not used for this purpose will be burned.
It should be noted that if all the above considerations allow for the tokens to be used as LP rewards, the economists will also have to sign off on the rewards and the structure. For example, there could be a lockup period for the rewards where some or all of the rewards are locked for a specified amount of time after being earned.
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