The Native Token (gSQUI)
Overview of the SQUI Utility Token
Last updated
Overview of the SQUI Utility Token
Last updated
Network: Polygon PoS
The gSQUI token is the governance token specific to the SQUIZITO platform, designed to facilitate decentralized decision-making and active participation within the platform’s ecosystem. gSQUI plays a crucial role in empowering the community of creators, event organizers, and participants by enabling them to shape the future direction of the SQUIZITO platform. Unlike the utility token CATH, which is shared across the Cathedral Foundation ecosystem, gSQUI is exclusively for SQUIZITO governance purposes.
The gSQUI token is primarily used for governance within the SQUIZITO platform, as well as for rewarding active users who contribute to the platform’s success. This governance model ensures that SQUIZITO remains community-driven, with creators and event organizers having a direct say in its evolution.
Governance and Voting: The primary purpose of gSQUI is governance within the SQUIZITO platform. Token holders use gSQUI to vote on platform proposals, protocol upgrades, feature releases, and strategic initiatives. The decentralized voting mechanism gives power to the community to decide on changes and improvements. Voting power is proportional to the number of tokens held, and decisions are implemented automatically via smart contracts.
Incentives for Platform Participation: One of the unique aspects of gSQUI is that it is distributed as a reward for active engagement on the SQUIZITO platform. For example, when users create new experiences (e.g., event tickets, special access NFTs), they are rewarded with gSQUI tokens. This incentivizes continuous content creation and participation, aligning user activities with the long-term growth of the platform.
Event Creator Incentives: Every time a creator or event organizer uses the SQUIZITO platform to launch events or experiences, they receive gSQUI tokens. This system encourages the creation of high-quality, exclusive experiences and promotes a healthy, engaged ecosystem of organizers and participants.
DAO Participation: gSQUI holders participate in shaping the SQUIZITO DAO, which governs important decisions on platform evolution. Proposals for feature additions, platform updates, and governance improvements can be submitted by any token holder, fostering a democratic and decentralized governance structure.
To ensure long-term sustainability and fair distribution, the gSQUI token has a carefully planned issuance and distribution model.
Token Issuance: The total supply of gSQUI tokens is capped, ensuring scarcity and long-term value. New tokens are issued only through platform rewards (such as event creation and participation) and governance-based incentives. The issuance process is transparent and controlled through the governance system, ensuring no arbitrary inflation.
Token Distribution: The distribution of gSQUI tokens is designed to promote decentralization and encourage participation from all corners of the SQUIZITO ecosystem. The tokens are distributed across key stakeholders:
Platform Participants: A significant portion of gSQUI tokens is reserved for rewarding event creators, users, and participants who contribute to the platform. This ensures that active users have a vested interest in the governance and future of SQUIZITO.
Development and Operations: A percentage of tokens is reserved to fund the ongoing development, maintenance, and scaling of the SQUIZITO platform. These funds ensure that SQUIZITO can continuously innovate and improve.
Treasury: A portion of gSQUI tokens is allocated to the DAO’s treasury, governed by the community. These tokens will be used to fund future development, partnerships, and expansion initiatives. The treasury is managed in a fully decentralized manner, with token holders voting on how funds are spent.
Advisors and Partnerships: A small allocation is set aside for strategic partners, advisors, and key contributors who help guide the growth and development of the SQUIZITO platform. This ensures that external stakeholders have a long-term interest in SQUIZITO’s success.
The governance and reward model of gSQUI is designed to be both democratic and engaging:
Proposal Submissions: Any holder of gSQUI tokens can submit governance proposals. These proposals can include platform updates, changes to reward models, new partnerships, or technical upgrades.
Voting Process: Token holders can vote on submitted proposals, with each gSQUI token representing one vote. Voting is done through smart contracts, ensuring full transparency and decentralized decision-making.
gSQUI Rewards: To promote engagement, users earn gSQUI tokens as rewards for specific actions on the platform. These rewards encourage users to create, interact, and participate in the ecosystem, making the platform dynamic and growing.
No Transaction Fees: Unlike CATH, which has a fee mechanism built into its transactions, gSQUI is fee-free. This means that users are not charged fees for transferring or interacting with their gSQUI tokens, making it ideal for governance and rewards without incurring additional costs.
The gSQUI tokenomics model is built with long-term sustainability in mind:
Capped Supply: The total supply of gSQUI is capped to ensure token scarcity. This helps maintain the token’s value as demand for governance and participation in SQUIZITO grows over time.
No Inflationary Pressures: gSQUI tokens are only distributed through platform rewards and governance-related incentives. There is no arbitrary minting or inflationary pressure, ensuring that the token’s value is tied to platform growth and user participation.
Growth-Oriented Distribution: The reward system ensures that tokens are distributed to active users and contributors, aligning their interests with the platform’s success. This helps create an engaged community that is focused on long-term growth and innovation.
The SQUIZITO platform is built to be a vibrant, user-driven ecosystem. By leveraging the gSQUI token for governance and rewards, SQUIZITO ensures that its community remains at the core of its development, driving innovation and creating sustainable value for all participants.
