Tokenomics

OVERVIEW

Gora at its core aims to create a marketplace where participants can interact to buy and sell data-related products and services in a decentralized manner. Gora's economics is designed using a framework that aggregates the Tokenomics into three categories;
Market design, Mechanism design, and Token design.

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ECONOMICS DESIGN FRAMEWORK

REWARDING FOR SECURING THE SYSTEM

Read the full Gora Economic Design document to learn how the market, token and mechanisms of the ecosystem is engineered with long-term value creation for customer in mind.

TOKEN UTILITY

GORA token is designed such that it allows the holder to take part in important decisions, stake in Gora, take part as a node runner, pay for data/computation as a consumer and obtain value from the network effects of increasing usage of Gora.

Purchase of data and computational power
Customers use the Gora token to purchase services such as:      
  • Arbitrary data ( e.g. VRF number, or an API Call )
  • Computational Power
  • Subscription Services
Participating in Consensus
Validators fetch data from the Gora system to ensure data is accurate. Each time a node runner participated in consensus, they are rewarded in GORA token.
Delegating Votes
For community members who do not want to run nodes they may still delegate their tokens to staking providers, such as one of our many partners validatrium. The Gora system has built-in support for delegating votes without handling over tokens to the staking providers.
Governance
Each quarter there is a governance period where the community will be able to vote on changes to the protocol. To participate in governance, community members must take a certain amount of tokens for the entire governance period. Each token allows for one vote on each proposal.

TOKEN DISTRIBUTION

33% for Ecosystem Rewards (for performing platform activities).
A large chunk is reserved for rewarding platform activities. Given our understanding of how crucial Gora's services will be for the wider blockchain ecosystem, it will be necessary to have the ability to access a portion of tokens that can be utilized for rewarding platform activities. We also believe that reserving such a large chunk of the token supply for this breeds confidence in Goracle from our community members.

10% of the 43% is reserved for ecosystem development. This is for incentivizing the development and usage of Goracle with grants and hackathons.
10% reserved for Ecosystem Development
This is for incentivising development and usage of Gora with grants and hackathons.
12% held by Treasury for long-term operational expenses
Expansion of Gora will require a larger team to handle large number of tasks and software improvements to keep Gora competitive. 12% provides ample space to cover Goracle while keeping true to its' future objective of becoming fully decentralized.
15% held by Team, Recruitment and Advisors
Vesting will begin after a 24 months cliff with daily vesting across 12 months.  It is vital to have long-term commitments from the highly skilled team members while making sure the portion doesn't exceed 20% which may bring distrust from our important community members. Advisors provide valuable insights/expertise which Gora may not have access to internally. Given the commitments on a part-time basis, we feel 3% is justified to reward them. Vesting for advisors involves 6 months of lock up and then daily unlock over 12 months.
2% Adoption Incentives
Adoption incentives has been created to aid the search for network effects for Gora. This will be done by rewarding early adopters with varying APY depending on when a node runner has begun staking and remains staked for a period of 3 months.
6% for Marketing and Partnerships
In order to achieve network effects, it is essential that the wider blockchain/web3 community are aware of Gora's existence and its' capabilities. 6% grants Gora the ability to market towards a variety of segments within the larger community.
3.77%  for Early participant Purchase

This is an amount allocated to Node runners pre-public launch to provide them with the tokens ahead of launch for preparation.
4% for Liquidity
It is necessary that tokens are continuously available to Gora participants when they require it. GSR will provide market making facilities and 4% is sufficient for them to complete this task across two years.
12% for Investors
Investors brought much needed funding to Gora in its' early stages which was used for developing a strong team and marketing. Finding the sweet spot between getting enough funding and not handing out too many tokens to investors which will lead to centralization is difficult but we believe 12% is close to achieving a middle ground between the two. A cliff period has been applied in order to reduce percentage owned in terms of circulating supply.
2.23% Public Sale
An amount of 2.23 million GORA will be sold and this amount has been judged to be an appropriate amount when taking into account known demand for the token. It is a balance of satisfying consumer demand whilst also raising vital funds for the continual progression of Goracle.
TOKENOMICS
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