Golden Treasury: Empowering $GOLDEN Token Holders | Golden Inu Token Official Blog
We're ecstatic to announce the latest addition to our ecosystem - the Golden Treasury. Born out of an overwhelming community decision, our smart contract-based Treasury is designed to uplift the value and liquidity of the Golden Inu Token. This will ensure the long-term sustainability of our entire ecosystem while giving our loyal $GOLDEN holders the value they deserve.
But before we dive into the details, we want to give a special shoutout to our community. We recently conducted a vote on snapshot.org where our dedicated $GOLDEN ERC-20 & BEP-20 token holders were asked to choose between two options:
- Token Buyback and Burn: Under this plan, 50% of our revenues would be allocated to buy back Golden Inu tokens from both Binance Smart Chain (BSC) and Ethereum (ETH) networks. These tokens would then be burned, thus reducing the circulating supply, and potentially increasing the token's value.
- Revenue Redistribution: Alternatively, this option proposed that 50% of the revenues be used to buy Golden Inu tokens from BSC & ETH, and then redistribute them among our token holders. This method aimed to reward the loyalty of our token holders by increasing their token ownership over time.
After the vote, an impressive 82% favored the Token Buyback and Burn option. Your voices have been heard and, as always, we stand ready to meet the challenge head-on!
As a result, we will soon be introducing the burn portal for our BSC & ETH token at burn.goldeninutoken.org
Below is the future V1 of our golden treasury burn portal...
The Golden Treasury Explained
At its core, the Golden Treasury is a smart contract designed to receive funds in the form of WETH or WBNB.
Revenue from our applications, like the popular Play To Earn $Golden Inuverse, or our upcoming decentralized exchange (Dex), will be funneled into the Golden Treasury. These funds will be split, with 50% being used for operational costs to keep our applications up to date and bug-free. The remaining 50% will be sent to the Golden Treasury smart contract.
Here's where the real magic happens. The smart contract will then use these funds to buy $GOLDEN tokens. If the revenue comes from a BNBChain app, the smart contract will buy Golden Inu Tokens on PancakeSwap and then send them to the burn wallet. If the revenue originates from an app on the Ethereum chain, it will buy Golden Inu Tokens on Uniswap and follow the same procedure.
To make the process even more exciting, these buybacks and burns will occur randomly throughout the day.
Final Thoughts
This innovative approach adopted by the Golden Treasury ensures that every action within our ecosystem directly contributes to the value of the Golden Inu token, providing an avenue for growth and sustainability. As we continue to develop and launch new applications, the feedback and support from our community remain vital in our mission.
Through your belief in our vision, we are confident that we can navigate the ever-changing crypto space and come out shining - just like our Golden Inu Token. Together, we will continue to create a golden future for all.
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