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Tokenomics ​

AlgoGems Token ​

AlgoGems, also know as $GEMS or GEMS 💎, were created to reward the platform’s Creators and Supporters while developing a positive dynamic for the Algorand NFT and DAO ecosystem!

$GEMS is a multi-purpose utility token Designated fees from sales made on Algogems are directly redistributed to Committed $GEMS Governors through snapshot staking, quarterly.

  • 10,000,000 : Max Supply
  • 27,349 : Burned 🔥
  • 9,972,651 : Total Supply

Distribution ​

In the early days of Gems, Distribution was via a weekly buyback and burn of $GEMS. (GEMS Burn Contract), Now complete, we have moved to a new and improved system, GEMS-based Governance. A powerful DAO shaped by our community!

GEMS Governance rewards $GEMS holders, through snapshot staking paired with vote consensus ratios to determine earnings. In other words, $GEMS are staked by tracking your wallet balance, and ensuring you never fall below the amount staked.

Important

Staked $GEMS never leave your wallet and custody.

Governors recieve a share of the platform’s profits directly to their wallet at the end of each participated period! Incentivizing delayed gratification.

Governance is organized into 3 month periods, 13 weeks long. Synced with Algorand Governance periods, there is a 3 week window at the end of each period to commit and stake.

TIP

Stake your $GEMS.

Important

APY is based on the quality of individual participation in Governance.

Governance ​

A GEMS-based system gives holders the ability to participate in the GEMS decentralized governance. Governors will be able to allocate community GEMS funds to new initiatives and can currently verify artists, and moderate content to prevent stolen art (and other abuses). Big Votes allow Governors to shape policy and the development of the platform!

Unique Spotlight Boosting ​

Help any Creators to stand out and get exposure on the marketplace by voting with your $GEMS. Their Algorand Account (and their NFTs) will get a visibility boost! The most popular Creators will be featured on the homepage governor's spotlight, boosting their NFTs and profile's visibility!

Furthermore, users who hold $GEMS in their wallets will have higher visibility on the marketplace. The boost will depend upon the amount of GEMS being held (thresholds and amounts will be modified over time to create the best experience).

Exclusive Benefits ​

GEMS holders will experience exclusive benefits!

  • Special events
  • Lotteries
  • Featured drops
  • Fee reductions

TIP

Holders will get early access, and a higher chance of getting rare content during future events.

The $GEMS model is designed to make Algogems' community and content more vibrant and valuable while preserving the platform’s user-friendliness. $GEMS are a way to participate meaningfully within the Algorand ecosystem, either as a Governor, Supporter or a Creator!

Details ​

$GEMS is an Algorand ASA, ID 230946361

Freeze and Clawback addresses are disabled to give holders the guarantee that their $GEMS are fully in their control and custody.

Trade $GEMS ​

Watch $GEMS ​

Earn $GEMS ​