ASAP-Eddie from 28.04.2022

Hello!

Today, I’ll talk about staking, tokenomics and several other important topics for the community.

First, there are about four days left until the end of the red staking phase. The phase change will take place on the night between May 1st and May 2nd.

This will happen because the total supply of GLZ tokens will exceed 250M. Since there are already more than 150M GLZ tokens in the staking pool, the monthly staking interest rate will be 7% for users.

Some time after the NFT platform alpha version release, the GLZ referral program will be canceled (as well as a 15% fee for depositing tokens for staking). Also, NFTeam, following the tokenomics (covered in the latest version of the WhitePaper), will send 69M GLZ tokens to staking, which will increase the staking interest rate from 7% to 9%.

Let me clarify a few points.

The referral program is a bonus. It was created for holders of additional GLZ tokens while there was no functioning NFT platform and other earning opportunities except for staking.

The GLZ token referral program isn't a part of the NFT platform tokenomics. It's not covered in any version of the WhitePaper.

For these reasons, after the NFT platform release, the referral program will become irrelevant.

The mentioned 69M of GLZ tokens are the project funds that NFTeam plans to place in the staking pool in the proportions defined in the current version of the WhitePaper:

24M - ecosystem development.

24M - to provide a liquidity pool.

12M - to provide an incentive program.

9M - funds of the NFT platform team and the UMI blockchain team.

NFTeam'll earn from the NFT platform fees: for providing services for the creation of NFTs and operations with them.

I also want to clarify whether the GLZ/UMI pair will remain.

Yes, this pair will stay. NFTeam doesn't think about changing the UMI blockchain (along with its native coin) to any other.

Talking about the blockchain, I want to reassure you: after the NFTs launch, the UMI blockchain won't cease to be fast and “light” –  the UMI developers have made great efforts to make it that way. I'm sure you'll like the new solutions! But I won't share any insights ahead of time. 

I want to say a few words about marketing, although my name is not Philip, but Eddie.

We'll run an ad! But first, let's evaluate the NFT platform alpha version and launch some additional subsystems of the project described in the WhitePaper.

I'd appreciate your support!