Golom Docs

Genesis Period

Learn about the Genesis phase of Golom
Golom conducted Genesis period where traders were invited to use the platform and trade while sharing their valuable feedback to improve the platform. During this period 62,500,000 GOLOM tokens i.e. 6.25% of the supply was allocated to early community members. Phase I
From 1st June 2022 UTC 20:00 until 1st July 2022 UTC 20:00. Early users who join the community and trade on https://golom.io during this period will be eligible for the genesis rewards of 5% of the total supply, however these tokens will not be tradable in the markets during the genesis period.
Each day 1,666,666.66 GOLOM tokens will be allocated to traders on https://golom.io on a pro rata basis. Phase II
From 1st July 2022 20:00 UTC until 31st July 2022 20:00 UTC.
1.25% of total GOLOM tokens will be distributed to traders who successfully list and sell during this period, meaning 12,500,000 total and each day 416,666.66 token.
As soon as the Genesis phase II is over, Airdrop will be done and Genesis users can claim their GOLOM and start to stake/trade.


What will happen to unclaimed Genesis tokens?
Once the claim period is over, unclaimed tokens will be burnt
What is the process to claim Genesis Rewards?
Genesis reward claiming will go live along with Airdrop claiming. The process to claim can be accessed at GOLOM Airdrop, there will be two options to claim: a) Immediate 20% redemption in the form of GOLOM, with the rest of the GOLOM being burnt. b) Full redemption in the form of veGOLOM with a 4 year vesting.
What is veGOLOM?
These are tokenized locked positions and can be sold at any time during the vesting, just like any other NFT. They also allows users to earn rewards. 100% of the platform fee is shared with veGOLOM holders along with emissions.

What is the treasury allocation and how will it be used?

Treasury allocation is kept to ensure that new proposals to improve the protocol can be proposed by the community and using the voting ,GOLOM tokens can be used in the development.
Last modified 5mo ago