Introduction to Tokenization
There are more than 300 million crypto users around the world, with over a tenth of the internet users, globally, owning some form of crypto currency. As for the number of crypto currencies, there are more than 19,000 of them and several dozen blockchains are in existence at the moment.
It is obvious that with thousands of crypto currencies in the market and several dozens of blockchains in existence, there would be multiple connotations of blockchain and crypto in the minds of people.
Some see it as a creator of wealth and stability within their community, while others see it as incomprehensible. Besides, there are people who see it as a sector they are never likely to participate in due to concerns of accessibility and transparency.
Meanwhile, tokenization, in the context of blockchain, is the process of converting something of value into a digital token that’s usable on a blockchain application. Crypto tokens provide several user benefits such as providing more liquidity, faster and cheaper transactions as well as more transparency.
Crypto tokenization can come in different forms – security tokens, tokenized securities, utility tokens and currency tokens. In addition to the above classifications, tokens can also be designed to be either fungible or non-fungible, depending on their intended use.
Companies and brands, with limited marketing budgets, struggle to meaningfully engage with their most loyal customers. In such a scenario, brands should actively choose to stand out by embracing fresh techniques.
In this modern age of technology, the attention spans of people are rapidly shrinking. So, having a tangible asset as a way to engage consumers and that which an audience wants to ‘buy into’, will help brands stand out in the crowd. Crypto tokens in the form of utility tokens can be acquired by or gifted to users.
What is Gauss?
Gauss is building a curated Layer 1 blockchain that will help brands and creators tokenize their digital presence and interact with their audiences and fans in a whole new way. The Layer 1 blockchain is based on a permissioned blockchain. This essentially means that projects coming on Gauss need to be vetted in order to launch on Gauss.
Unlike Gauss, most blockchains are permission-less, which means anyone can launch their smart contracts and assets on those blockchains. The public consensus model used in permissionless blockchains are Proof of Work or Proof of Stake while a permissioned blockchain such as Gauss uses Proof of Authority as its public consensus model.
The Gauss ecosystem will be a frontrunner regarding token design for brands. End users of these tokens will be able to connect with the brand on a much deeper level. The core service of Gauss is token design for brands of a variety of sizes, as these brands do not have the in-house expertise or processes to be able to efficiently and effectively develop tokens.
Gauss enables brands to create tokens by collaborating with their team and then launching them into a powerful ecosystem complete with broad and deep functionality. Gauss is a tokenized ecosystem to serve the evolving needs of any brand.
The purpose of the Gauss ecosystem is to support and work with brands to launch utility tokens on the blockchain and empower them to engage with their audiences in a new manner.
How does Gauss empower brands, creators, streamers, artists and influencers?
The Gauss ecosystem is set to change the global perspective of blockchain technology by addressing three major issues within the crypto space – fraud, authentic engagement and a lack of widespread token adoption. Besides, it also provides new and innovative features.
Token customization – The creation of individualized tokenomics will be done through a collaborative effort. Gauss will work with their partners to design branded tokens that are tailored to fit their needs, while also encouraging them to think creatively about how best to utilize their tokens.
While certain fundamentals will be upheld across all partners’ tokens to ensure the health of the overall ecosystem, the ultimate ownership will be in the hands of the partners, thereby allowing for a greater degree of freedom. Partners will be able to use their own branded tokens for contests, reward programs, e-commerce, fund-raising and many other use cases.
Once a token has been minted, Gauss will continuously work alongside its partners, building upon, promoting and growing their status after their token has been launched. The partnerships will not just consist of short-term interactions that take place only at their inception.
Instead, the expertise of Gauss will be routinely paired alongside the partners’ latest goals and strategies. Moreover, Gauss will regularly improve the use cases of new and existing tokens, both in terms of compatibility and general acceptance by global consumers and specifically researched audiences.
Safe and reliable – As cryptocurrency becomes an intrinsic part of the global economy, people are beginning to realise that the system can be better. Even if laws are passed by respective governments of several countries, widespread regulations on blockchains will be almost impossible to enforce on a global level.
Almost all blockchain ecosystems, at the moment, are fraught with scams and volatility, causing people to cast doubts on all cryptocurrencies. In order to mitigate these risks, Gauss is creating a permissioned Layer 1 blockchain ecosystem in the hopes of providing a secure service that delivers a sense of surety for both token creators and their users.
An overview of Gauss contests and Ferro Cards
Ferro Cards are NFT being introduced to start building the Gauss ecosystem, the community and to reward holders of these NFT for years to come. It will launch 3 tiers over the development and post-launch time frame.
It is designed to build working capital and liquidity for the Gauss ecosystem. Each Ferro Card allocates an amount of GANG tokens to be released to the NFT holder when the Gauss ecosystem launches in the last quarter of 2022.
What are the goals of Gauss?
In this crowded marketplace, it is easy for people to lose sight of their favourite brands. The goal of Gauss Gang is to bring partners back into the spotlight. Gauss will empower brands by expanding consumer engagement with the use of their own exclusive tokens. Gauss will help brands take charge of their voice by drafting customised tokenomics, writing smart contracts and developing exclusively branded tokens that fit the needs of the brands.
Is Gauss a promising platform?
The Gauss ecosystem is being created to address a common rift in traditional community outreach methods, which is authenticity. It is creating a unified experience for users to engage with brands, and for brands to engage with their audience.
Gauss also plans to build its own blockchain, along with the necessary supporting tools. Following that, it will migrate from the Binance Smart Chain (BSC), launching tokens for their first partners immediately after the migration.
As for the tokenomics of the Gauss project, the team is resolute in protecting its ecosystem, as well as its current and future partners, besides being committed to transparency and open communication.
Every single token in its total supply, company wallets and every other aspect of its finances will be accounted for online, with full disclosure. Every token under Gauss administration will be transparently managed, along with publicly published reporting.
The total supply of GANG tokens (the native coin of the Gauss ecosystem) will be fully minted upon inception and then distributed to multiple wallets for different purposes. Each wallet and smart contract will be disclosed to show what each will be used for.
These tokens will have time-locked schedules via smart contract, unlocking only based on the published release schedule. The transaction fee of Gauss has been broken down to four parts to secure the future of Gauss.
The Gauss system will reward holders and mitigate volatility. GANG will place more weightage in the wallets of small holders with its redistribution methods – incentivizing more to participate, even at small amounts.
The larger liquidity pools make for stable ecosystems and allow for more expansions into new pairings and exchanges. As such, it is allocating a quarter of its transaction fees towards building liquidity pools as well as paying staking rewards in the future.
Meanwhile, in order to support the growth of communities, entrepreneurs and creators, 6 percent of GANG tokens, representing 15 million tokens, will be allocated to the creation and sustainability of a charity fund. This charitable fund will give grants, scholarships and other forms of financial assistance to aspiring entrepreneurs, artists, researchers and the wider community in the hopes of building a better future for generations to come.
All GANG token allocations will be released over the four-year period and the Gauss team anticipates that most tokens will be in circulation after the end of the period within the liquidity pools and the wallets of the community members.
As for ensuring stability of the company’s operations, a portion of the transaction fees will fund Gauss Gang’s operations, development and marketing. Individual pools will be allocated for each area and will be replenished via transaction fees.
As evident from the plans and strategies elucidated above, Gauss is creating a safe haven for cryptocurrencies to flourish and evolve by launching a permissioned Layer 1 ecosystem. Its curated Layer 1 blockchain aims to deliver a sense of surety for both token creators and their users, while also evolving the way brands and their audience interact.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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