Tokens
GLX - Galaxy Token
GLX address: 0xBd174C9d2A564b2eB187BD6556ae1d12256D5adD
The GLX token is designed to reach and maintain a 1:1 peg with Glimmer (GLMR), the native coin of Moonbeam.
Note that GLX is not collateralized and should not be mistaken for a stablecoin backed by other crypto or fiat coins. It pegs via an algorithm and will not always be valued at 1 GLMR.
GSHARE - Galaxy Shares
GShare address: 0x87894a4Dd3228aBcb1891795Fd4d7C3719636220
Galaxy Shares (GSHARE) are one of the ways to measure the value of the GLX Protocol and shareholder trust in its ability to maintain GLX close to peg. During epoch expansions the protocol mints GLX and distributes it proportionally to all GSHARE holders who have staked their tokens in the Flight Deck.
GSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Galaxy finance ecosystem.
GSHARE has a maximum total supply of 70001 tokens distributed as follows:
Initial liquidity: 1 GSHARE
DAO Allocation: 5500 GSHARE vested linearly over 12 months
Team Allocation: 5000 GSHARE vested linearly over 12 months
Remaining 59500 GSHARE are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
GBOND - Galaxy Bonds
GBond address: 0x7D1f3b64258033ff9c829c35dc7173e15A4E6F3A
Galaxy Bonds (GBOND) main job is to help incentivize changes in GLX supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of GLX falls below 1 GLMR, GBONDs are issued and can be bought with GLX at the current price. Exchanging GLX for GBOND burns GLX tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 GLMR. These GBOND can be redeemed for GLX when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for GLX when it is above peg, helping to push it back toward 1 GLMR.
Contrary to early algorithmic protocols, GBONDs do not have expiration dates.
All holders are able to redeem their GBOND for GLX tokens as long as the Treasury has a positive GLX balance, which typically happens when the protocol is in epoch expansion periods.
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