The Plan
Looking to stay involved in TurtleCoin? Want to be part of the process for v2? Stake wTRTL pairs and other cool assets on FTM and earn gTRTL, the governance token for all things TRTL.
You may have read in the blog or heard in the podcasts that v2 will be based on delegated proof of stake from the get go. To be able to bootstrap the network immediately upon launch (when it's ready) this requires a set of hard-coded semi-permanent validator and producer nodes.
Over the last year, we've been trying to figure out the best and fairest way to select who operates those hard-coded bootstrap nodes given that they'll carry the weight of the network for its initial launch and be rewarded handsomely for doing so. After we opened the swap to wTRTL on FTM we took a look at what FTM would allow us to do and thought, "Hey! What about governance tokens?! Let the community help decide.". Taking this concept in stride, we have deployed contract(s) for gTRTL the Governance Token for TurtleCoin®.
So how do you get yourself some of that sweet gTRTL voting power?
Through staking various forms of wTRTL and/or other projects that the community deems as worthy! All stakes are locked for a minimum of 7-days and the longer you stake (up to a year), the more BONUS gTRTL you earn for doing so.
We are kind of crazy around here so gTRTL is minted and given to you as soon as you lock with the contract, no "vesting" or claiming required. Once the required lock time has passed, you can get your originally staked assets back by unstaking. gTRTL is given only upon staking your token assets, there are no residual gTRTL drippings.
gTRTL is an ERC20 token with snapshot properties built in to allow for the capturing of balances at a point in time. Using those snapshot(s) we will be able to conduct votes on the validator/producer selection in the future as well as a few other cool concepts we are working on.
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