GOAT to Mainnet: #5 $GOAT Token: Empowering the Goat.Tech Ecosys…

GOAT to Mainnet: #5 $GOAT Token: Empowering the Goat.Tech Ecosystem

May 9th, 2024

Goat.Tech’s ecosystem operates on its proprietary token, $GOAT. This token plays a crucial role in the ecosystem by offering unique functionalities and promoting sustainability.

The $GOAT token has various uses within the Goat.Tech ecosystem and possesses all the qualities for Up-only trend.

$GOAT Utilities

Lock: $GOAT has to be locked to utilize
Boost: Increase your Trust Score by staking $GOAT tokens, unlocking higher earning potential within Goat.Tech.

Higher Trust Score yields more $GOAT tokens for larger rewards and paves the way for more opportunities in Web3 space. It's a win-win cycle for all!

3. Vote: Utilize the voting power of $GOAT to participate in Challenges, join Goat.Tech in combating scams by challenging the trustworthiness of wrongdoers.

Whether you're protecting honest contributors or penalizing bad actors, your vote helps ensure a fair and balanced ecosystem for on-chain reputation.

4. Earn:

Lock-Stake $GOAT to earn Protocol fees, Airdrop Rewards, Challenge Rewards, Defense Rewards, and Voting Rewards in $ETH and $GOAT.

$GOAT Scarcity

Burning: All fees collected in $GOAT are burned, decreasing the total supply and increasing the value of the remaining tokens.
Halving: The GOAT token is mined to all Trust Pools at an emission rate of 7 GOAT per second. However, this emission rate gets halved every 24 months. This helps in controlling inflation and stabilizing the currency.
Endless Demand:

Users need to stake the most $GOAT to maximize their Trust Score Booster and win Challenges.

- Trust Score Booster:

Trust Score fomula:

Your Trust Score = Financial_stability x Booster x Sum of Staking Power of all of your Stakers

Booster fomula:

Booster = 1 + (Max_booster - 1) x (your Boost-Vote Power / highest Boost-Vote Power among all users)

Booster is like a bonus that increases when you stake GOAT tokens in your own pool. The more GOAT tokens you stake and the higher your Boost-Vote Power, the more your Booster increases. This creates competition among users to stake more GOAT tokens and achieve the highest possible Booster.

The maximum booster is 2 and will increase over time to boost the demand for the GOAT token.

- Win Challenges:

When users challenge others' reputations for profit, or others challenge your Reputation, the demand for the GOAT token becomes endless for both Challengers and Defenders.
Anti-dumping Mechanism

The $GOAT token includes an anti-dumping mechanism to discourage early unstaking. This feature imposes a penalty on users who un-stake their $GOAT tokens prematurely. The penalty is then distributed among the remaining $GOAT stakers, effectively slowing down the unstaking process and maintaining a stable token supply.

In conclusion, the $GOAT token is a vital part of the Goat.Tech ecosystem. Its unique features, anti-dumping mechanism, and strategically designed scarcity model ensure a balanced, active, and sustainable ecosystem that benefits all participants.

GOAT.Tech Updates:

Testnet Milestones:

We successfully launched the protocol on the Arb Testnet, gaining 46K users, along with a substantial amount of 212K ETH staked and 4,1K ETH & 7,9M GOAT harvested in just one month.

GOAT dApp Mainnet Updates:

The GOAT Mainnet Launch on Arbitrum will go live on May 13th.

Benefits of participating in Mainnet Event and stake ETH early:

Self-Stake with no fee, no risk, only profit;
Farm the most Mainnet Points the earliest (convertible to $Goat after TGE);
Attract all early stakers and earn up to 5% of staking volume in your pool;
⁠Get early Invite Code to start referring others, earn 20% Mainnet Points from direct referrals and 5% from indirect referrals;
Stake first in KOLs/whales you refer (ask them to create account and send you their Profile link first) to become their "Trustor" and start earning 30% of their earnings.