🌟GGMC Overview
Goofy Gophers Mining Club
Abstract
The Goofy Gophers Mining Club (GGMC) is an NFT-based community focused on cryptocurrency mining and passive income generation. It aims to address accessibility issues in mining, leveraging a collective approach to make mining fun and inclusive for everyone.
Initial Mint
The GGMC released 8,907 gopher NFTs in two phases in 2022/3, each with distinct characteristics offering bonuses tied to utility. 90% of mint income was invested in to ASIC cryptocurrency miners, emphasizing diversification and long-term stability.
The First Six Months
On May 1st 2023, GGMC officially began its compounding period. During this time, GGMC allocated mining income to purchase additional miners while prices were low.
The GGMC focuses on diversification as it currently mines six tokens:
Post Six Months
After the initial compounding period, operations focus on a sustainable flow to reward holders, add new miners, grow the Kingdom Treasury, and continue development of the project. Only burrowed (staked) gophers will be eligible for potential rewards.
The treasury functions as a community wallet to explore and back promising opportunities, as well as hold a portion of mined coins to potentially appreciate before conversion. Other GGMC ventures such as Kingdom Trust will also flow into the Kingdom Treasury. Potential net mining rewards will follow this allocation:
On Chain Voting
The community will influence mining and treasury allocation decisions through the Juniper Room. The project emphasizes fair community engagement to help shape its future. Voting power is different depending on profession!
Professions
Gophers have varied professions all intertwined with GGMC's utility in different ways. This has brought a new wave of fun to cryptocurrency mining. Profession specifics are beyond the scope of this paper.
This has been a brief summary of the core GGMC project. For full details, please visit our website and read the Minepaper!
Disclaimer
The paper highlights the potential of the GGMC but does not assure market performance or indicate ownership. GGMC NFTs are digital collectibles, and all rewards are theoretical and applicable only to staked NFTs.
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