🥈Role of gAKA Token

Introduction

The gAKA token is integral to the governance and operation of the Akarun DAO. Serving as the wrapped version of the AKA token, gAKA enables holders to participate in the decision-making processes of the DAO and earn rewards from game activities. This chapter details the characteristics, acquisition, and benefits of holding gAKA tokens.

Token Characteristics

Supply and Wrapping Mechanism: The maximum supply of gAKA is 20 billion, which corresponds to the total supply of AKA tokens. gAKA tokens are obtained by wrapping AKA tokens, meaning that the maximum supply of gAKA can never exceed the total supply of AKA. This wrapping and unwrapping can be done at any time directly through the Akarun DAO interface available at Akarun DAO on Aragon.

Ethereum-Based Token: Both gAKA and AKA tokens, as well as the Akarun DAO, are based on the Ethereum blockchain. This ensures the security and decentralization of the token and DAO operations.

Governance and Rewards

Membership and Governance: The number of gAKA holders varies based on the number of users who choose to wrap their AKA tokens. Holders of gAKA tokens are entitled to participate in the governance of Akarun DAO, influencing key decisions and policies related to the game's development and ecosystem.

Mandatory Participation: To be eligible for rewards in AKA tokens, gAKA holders must actively participate in the DAO by voting at least once every 12 months. Failure to participate results in the blacklisting of the holder's address, which cancels any future rewards they might have earned.

Earning Rewards: gAKA holders receive 3.4% of the total rewards from every race conducted in the Akarun game. These rewards are distributed in AKA tokens and have a linear vesting period of 60 days, with weekly releases. Rewards are only granted to gAKA holders who possess gAKA tokens at the specific moment the race occurs and are not blacklisted due to inactivity.

Vesting and Distribution: The 60-day linear vesting schedule ensures that rewards are gradually released, promoting long-term engagement and stability within the Akarun ecosystem. Weekly releases provide a steady income stream to gAKA holders, incentivizing them to maintain their holdings over time.

Real-Time Monitoring

Transparency and Accountability: gAKA holders can monitor their holdings and the distribution of rewards in real-time. This is facilitated by the transparent nature of the Ethereum blockchain. All gAKA token holders can be viewed on Etherscan at the following link: gAKA Token Holders on Etherscan.

Community Engagement

Active Participation: By holding gAKA tokens, users are encouraged to actively participate in the Akarun DAO community. This participation is not only limited to governance voting but also extends to discussions and proposals that shape the future of the game and its ecosystem.

Incentives for Engagement: The reward mechanism for gAKA holders ensures that those who are actively involved and maintain their token holdings are directly benefited from the game's success. This creates a symbiotic relationship between the game’s performance and the community's engagement.

Conclusion

The gAKA token is more than just a governance tool; it is the lifeblood of the Akarun DAO, driving community engagement, providing tangible rewards, and ensuring the decentralized management of the Akarun ecosystem. By wrapping their AKA tokens into gAKA, players can directly influence the game's future while earning a share of the rewards generated from game activities. However, active participation in the DAO is essential to maintain eligibility for rewards, reinforcing the importance of community involvement in Akarun’s success.