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Whitepaper
  • Abstract
  • Use cases
    • Tracking protocol
    • Certified reviews
    • Decentralized marketplace
  • Mission
    • Problems and needs
    • Solution
  • Technology
    • Tracking Protocol
    • Traceability and supply chain management
    • API access and whitelabel solution
    • On-chain reviews
    • E-commerce platform
  • Tokenomics
    • GYQ Token
      • Multi-Asset (MA) support
      • GYQ utilities
    • Token distribution
      • Release timeline
    • ISPO
      • How dPoS works
      • How ISPOs work
      • Rewards
  • Roadmap
  • Team
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  1. Tokenomics

GYQ Token

PreviousTokenomicsNextMulti-Asset (MA) support

Last updated 2 years ago

$GYQ is a native fungible token running on Cardano blockchain. The Max Supply of $GYQ is 4 billion units (4.000.000.000).

Native tokens¹ is a new feature that enables the transacting of multi-assets on Cardano. Users can transact with ADA, and an unlimited number of user-defined (custom) tokens natively; transaction fees can be paid in ADA or in any native token (Babel fees²).

Native support offers distinct advantages for developers: there is no need to create smart contracts to handle custom tokens, which removes a layer of added complexity and potential for human error since the ledger handles all token-related functionality.

The native tokens feature extends the existing accounting infrastructure defined in the ledger model (originally designed for processing ADA-only transactions) to accommodate transactions using a range of assets. These assets include ADA and a variety of user-defined custom token types.

¹:

²:

https://docs.cardano.org/native-tokens/learn
https://iohk.io/en/blog/posts/2021/02/25/babel-fees/