GGM Markup Protocol

The markup protocol procedure is aimed at defining the rarity of the NFTs by their additional appraisal by the community of GGMT stakers. The procedure takes place on Epoch basis. The whole markup fund (20% of GG Liquidity pool inflows) is to be distributed each Epoch.

Markup pricing procedure takes place in the following phases:

• Epoch N-1: Collecting submissions by the NFT owners to apply the particular NFT for the procedure. There is an additional requirement of minimal GGMT stake (which will be defined by the community closer to the procedure launch) to get access for the submission

• Epoch N: voting by token holders (who staked their GGMT) to allocate funds of the markup fund (as of the end of Epoch N-1 state) between the submitted NFTs. Each GGMT tokenholder has the equivalent number of votes to his stake which can be allocated to several NFTs

• Epoch N+1: the protocol makes the bid offers on the internal marketplace which consolidate the base level pricing and the markup one. The markup value is calculated as a relative number of votings numbered the markup fund (as of the end of Epoch N-1 state). The bids are valid only for one Epoch and to be canceled the next one if not accepted

• Epoch N+2: not accepted bids are canceled, the allocated markup funds are returned back to the markup fund and the next Epoch bids are calculated and placed

GGMT token stakers incentive to participate in the procedure is to get voting rewards from the dedicated fund.

Markup pricing procedure is applicable to all NFTs which have not been in the vault after accepting the protocol bids.

​​GGM markup protocol votings

GGMT voting rewards pool is filled with 2% of GGM Liquidity pool inflows and is set to incentivise token stakers to participate in GGM markup protocol votings.

GGM markup protocol voting rewards are distributed based on Epoch basis. A personal voting reward represents the share of the fund which is calculated as GGMT personal stake divided by the sum of stakes of all voting participants during some particular Epoch.

On more mature stages of the protocol developments to increase the network activity, voting can be delegated to AI via special web3 interfaces.