Galaxy Goggle DAO is a decentralized protocol for reserve currency that is developed for the GG token. Herein, the GG token is claimed to be backed in the collateral pool by a basket of assets such as BNB and BUSD so that the intrinsic value doesn’t fall below such backed up assets’ value.
GGDAO aims to introduce game-theoretic and economic dynamics systems into the market via minting and staking. The system is optimized for consistency and stability so that GG can function as a medium-of-exchange and unit-of-account globally. Additionally, the system is claimed to be used for wealth and growth creation.
The Galaxy Goggle DAO platform seeks to attain price flatness for a usual goods basket without using traditional currency. The platform doesn’t treat the crypto industry, separate from the traditional finance world. Further, by separating the responsibility of the staking parties from DAO governance, the platform aims to eliminate possible self-serving actions to the detriment of GG, the DAO, and the collateral pool.
Furthermore, the stakers benefit from supply growth. GG tokens are minted by the protocol from the collateral pool, most of which are allocated to the stakers. Therefore, though price exposure remains an important consideration, the stakers gain from their auto-compounding balances too. If the growth in the balance of the token outpaces the possible price drop (due to inflation), stakers make a profit, and the minters also benefit from price consistency. Minters achieve capital upfront and are vowed a fixed return. The return is in GG coins, and hence the developed ape's profit depends on the price of GG when the bond matures. GG tokens are native to the Galaxy Goggle DAO platform. Thus, the DAO platform governs the token GG.
