10 questions about Gourmet Galaxy you should know
Gourmet Galaxy is an innovative Yield Farming platform, a combination of DeFi and NFTs in a gaming experience. Presentation!
01. What is Gourmet Galaxy?
The first thing to do when you want to discover Gourmet Galaxy is to go to their website. You land in a very particular graphic universe which perfectly represents the project: a very pleasant site which mixes gamification and seriousness, a cartoon side but professional. This clever mix was a real discovery for me ; This permits to really discover the project while enjoying a refreshing experience (furthermore, the documentation is very well done and easy to access).
So, now let’s go to the presentation of the project.
Gourmet Galaxy is a DeFi Ecosystem presented as “the first project combining NFTs, Yield Farming and Gamification”. By combining this three concepts, Gourmet Galaxy aims to give a new life to the Yield Farming.
Gourmet Galaxy is an ecosystem compound by 5 main products:
GUM Swap is a decentralized exchange inspired by Uniswap, PancakeSwap or Sushiwap and using the same AMM technology as Uniswap. Gum Swap aims to gamify and simplify the trading experience of users by optimizing the speed, gas fees and slippage of trading pairs.
The fee is only 0.3% per trade and at the moment there are only GUM and ETH available.
Gum Swap is currently running on Ethereum but will migrate in the near future to the Polkadot ecosystem to enjoy faster transactions, higher levels of security, and fees cheaper.
Go to GUM Swap
GUM Farm is the Yield Farming/Liquidity Staking platform of the Gourmet Galaxy ecosystem. User can provide Liquidity in exchange for GUM or ETH.
At the moment, there are two pools : ETH-GUM to earn GUM and USDT-GUM to earn ETH.
Liquidity Farming represents a total of 9,950,000 GUM (49.75% of Total Token Supply) with the total daily blocks being 6.500 blocks per day.
GUM Farm is the only plateform where you can earn GUM token.
Go to GUM Farm
GUMPad is the IDO platform of Gourmet Galaxy. As Polkastarter, Poolz, Ignition (by PAID Network), or the other IDO platforms, the goal of this platform is to permit to crypto startups to raise funds by a decentralized system of crowndfunding.
The key features of GUMPad are :
Multichain supports & Cross-chain pools: the goal of GUMPad is to become a cross-chain IDO in order to fully terminate the gas war on the current IDO platforms. At the moment, GUMPad supports 3 chains : Huobi Eco Chain (HECO), Binance Smart Chain (BSC), and Ethereum (ETH). In the near future, GUMPad will support Polkadot and Matic as a Layer-2.
Strong-Holder Offering: GUM Holder Offerings (or GHO) is inspired by DAO Maker SHO model with few differences. There are 3 rounds:
- Round 1 — Strategic round: this round is open to angel investors who commit to bringing priceless value to the project.
- Round 2 — GUM Holders Offering: this round is open for GUM holder. GUM Holder Wallets will be scanned to calculate the holding score. This score will determine the amount of the allocation.
- Round 3 — Public round: this round is open for anyone who wish to participate in the IDO
Support for Whitelisting and Antibot: whitelist and anti-cheat filter will be 2 key feature os the platform.
Investor Insurance: Projects selected for GUMPad will be Researched, Audited, and Insured by reputable third-parties.
Galaxy Market is an open marketplace where users can exchange the different tokens of the platform (GUM, FOOD and PLANET).
There are two types of “actors” in the Galaxy Market:
- The Foundation: its goal is to provide basic PLANET, FOOD, and Recipe in exchange for GUM. The Foundation is manage by smart contracts.
- The users: they can use the market to exchange in-game assets (FOOD, PLANET) into GUM and vice versa.
NFT Universe is the final component of the ecosystem. It consist of many min-game where users can play to earn money by collecting ressources, rewards and tokens.
Each game is a separated DeFi application gamified like trading game or a simple game make used of NFTs with simple game play.
The core assets of the whole ecosystem will be PLANET, an ERC721 token, with a limited number and a own value for each.
02. What is GUM and what is the role of GUM in Gourmet galaxy?
GUM is the utility token of the Galaxy. It’s an ERC-20 token, built on Ethereum.
GUM have 5 use cases:
- Incentives: users who providde liquidity in GUM Farm will be rewarded with GUM.
- Trade: users must use GUM to buy FOOD on FOODMarket to forge a PLANET of their own. GUM is also used as a base currency for in-game activities.
- Create: users can use GUM to build their own PLANET. Furthermore, users can lock GUM on their PLANET and get passive income like a staking model.
- Revenue: in using FOODMarket, users paid fees which be converted to GUM, and distributed to the Vault.
- Governance: The DAO structure will permit to GUM holders to participate in Governance decisions of the platform
03. What are PLANET and FOOD and what are the role of these tokens in Gourmet galaxy?
FOOD is the NFT of the platform. It’s an ERC-1155 which main goal is to be used to forge your PLANET. FOOD may come in many forms: Water, Flour, Bacon, Pineapple, …FOOD will be exchanged with GUM on the Galaxy Market and FOOD price should evolute according to the market’s demand.
PLANET is the central asset of Gourmet Galaxy. PLANET is an ERC-721 token. Own a PLANET permits to get passive income according to its own tax rate (common PLANET may have an APY of 8% but legendary PLANET have more than 15% APY per year plus some FOOD weekly rewards). There are only 1000 PLANET and each PLANET has its own price depending of its rarity and can be sold on the Galaxy Market.
04. What is the tokenomic of Gourmet Galaxy?
- The total supply: 20.000.000 GUM
- Initial circulating supply: 13.125% (~1.300.000 GUM)
- Private and public sale price: 1 GUM = $0.1.
- Team: 15% (3,000,000) of GUMs. Vesting: unlocked after 1 year, for 0.75% of the Total Supply (150,000 GUMs) every month.
- Advisors: 5% (1,000,000) of GUMs. Vesting: unlocked after 3 months, for 0.25% of Total Supply (50,000 GUMs) every month.
- Private sale: 25% (5,000,000) of GUMs. Vesting: 40% unlocked at TGE, the rest will be vested and unlocked every 3 months, for 5% of the Total Supply (1,000,000) each time.
- Public sale: 2.5% (500,000) of GUMs. Vesting: 100% unlocked at TGE.
05. Is Goumet Galaxy a Multi Chain project?
Although the project is currently developed on the Ethereum blockchain, the goal is to develope the ecosystem of Gourmet Galaxy on many different Chains. The objective of being Multi Chain is to to benefit from the advantages of each Blockchains.
GUM Farm and GUM Swap are been developed on Ethereum but with Polkadot in mind. By the end of Q1 2021, Binance Smart Chain (BSC) and Huobi Eco Chain (HECO) will be integrated. In parallel, Gourmet Galaxy integrate Layer2 solutions by Matic Network and Nulsio which will hugely improve the scalability of the platform. And in the future, there will be an integration with Polkadot!
06. Who is the team behind Gourmet Galaxy ?
The team of Gourmet Galaxy consists of 9 people and 2 advisors. The team is driven by three leaders who are experienced in computer engineering and blockchain technology: Thomas Johnson(CEO), Kayra St Fort (CTO) and Kunchok Tsomo (CMO).
Thomas Johnson is the CEO of Gourmet Galaxy. He has 6 years of experience in game development and management and he has a professional background in computer engineering. He started in crypto in 2014 by buying BTC and quickly became a Blockchain enthusiast. After that he worked for crypto companies like Bitrix24, Celsius and CoinDesk.
Kayra St Fort is the CTO of Gourmet. She has a Bachelor’s degree of Computer Science from Central Ohio Technical College and she worked in many differents groups of developers. She was CTO at MARA and has a lot of experience in how to run a Blockchain project and make it applicable in this complex financial world.
Kunchok Tsomo is the CMO of Gourmet Galaxy. She has been active in crypto for over 4 years now ; First as miner then as investor. She was involved in peer-to-peer technology, before entering the blockchain industry. She worked for Binance labs and Microsoft.
The rest of the team is compound by :
- Blockchain Programmer: Blue OP
- Senior Engineer: Pulkit Bhutani
- Finance & Operations: Jonathan Hamilton
- Head of Community: Simon Gel
- R&D Engineer: Mario Totto
- Product Designer: Gimmon Asin
The team is supported by 2 great advisors: Matt Armstrong the co-founder of ROYALE and Aaron Choi the Vice President of Global Business Development at Kava.
07. What is the Roadmap of Gourmet Galaxy ?
The roadmap of the project is really impressive.
In the first quarter of 2021, big millestones were/will be done :
- Private sale, IDO on FalconPool and TGE
- Platform audit by Certik
- Launch of GUM Farm with 2 pools of liquidity : GUM-ETH to earn GUM and GUM-USDT to earn ETH.
- Launch of GUM Swap with only on pair at the moment: ETH-GUM
- Launch of GUMPad with the first IDO on the 15th march.
- Soon, integration of BSC and HECO
In the second quarter, the main millestones are the integration of Polkadot Blockchain, the add of more liquidity pools and the building of the PLANET.
08. Who are the investors and partners of Gourmet Galaxy ?
Main partners are Polygon, Nuls and Fire Protocol
Main investors are Magnus capital, OPW.io, x21, Blocksync ventures and Moonwhales ventures.
09. Is contract has been audited ?
The code of Gourmet Galaxy was succesfull audited by Certik (famous crypto auditor).
We learn 2 interesting things in this report:
- There were 8 issues ; all resolved by the team.
- The code is a fork of sushi with some minor changes.
You can read all the information about the report in the post bellow.
10. What is the first IDO of GUMPad ?
The first IDO on GUMPad will be Fatfi at 15th march 2021.
Fatfi is a DeFi Ecosystem, with it own Algorithmic Stablecoin that will foster a collaborative ecosystem, with the goal of dramatically accelerating the development and adoption of the world’s most advanced technologies & strategies into the most attractive segment in DEFIverse: Liquidity Rewards.
Fatfi is built on Binance Smart Chain, and aiming to become a Polkadot Parachain.
Conclusion
Gourmet Galaxy is a great product which has succeeded in blending 3 hyped concepts (DeFi, Yiel Farming and NFT) and a very successful graphic universe and gamification.
This mixture, based on the 5 main products previously presented, offers a complete ecosystem with different investment opportunities for users:
- Speculate on the GUM price (huge pump the last days)
- Earn GUM or ETH with farming in GUM Farm (APY of ~200% in the 2 current liquidity pools)
- Invest in new project by participating in IDO with GUMPad (Fafti, …)
- Trade NFT in Galaxy Market
- …
The Multi Chain strategy is also a really great choice for the adoption of the product and its usability.
And last important point, the Gourmet Family community. It currently has over 17,000 members, growth each day and is very active. It’s a really important factor in the succes of a project.
More information about Gourmet Galaxy
- Website: https://gourmetgalaxy.io/
- Telegram: https://t.me/gourmetgalaxy_chat
- Twitter: https://twitter.com/gourmetfinance
- Medium: https://gourmetgalaxy.medium.com/
- Whitepaper: https://gourmetgalaxy.gitbook.io/gourmet-galaxy/
- Github: https://github.com/gourmetgalaxy
/!\ images and information are from the Whitepaper or gourmetgalaxy.io
