Generational Wealth Society (GWS) Protocol formal review submission
What is the Generational Wealth Society or GWS?
GWS is first and foremost a DAO. By nature DAO’s have certain cares and concerns for their DAO members and involve them in nearly every aspect of the DAO’s growth and expansion deeming everything a team or group effort to achieve proper goals and alignment with the current state of the DeFi space.
GWS is also multi-phased. While acknowledging that the staking and bonding protocols originally designed by OHM are extremely useful for certain purposes we also understand and accept that this type of protocol is not a permanently sustainable one. We feel that it is a protocol that can be used temporarily, intermittently or in a phased structure as we have chosen.
Our primary purpose of utilizing OHM’s staking and bonding protocols are for the following reasons:
GWS aims to build a circulating supply of tokens to transfer over to our chain, bringing members and value with it.
GWS aims to build a treasury by utilizing the bonding portion of the protocol. In turn we then allocate treasury funds to revenue streams which bring back additional revenue into the treasury which is then utilized in a multitude of ways, for example GWS aims to have revenue streams that can come from both real world assets businesses as well as DeFi assets and businesses.
We have designed land mark targets based on our treasuries growing funding so that the community can better understand our structure for making revenue stream allocations as well.
These revenue streams will be used to fund our project, its liquidity and its blockchain throughout the entirety of our lifespan.
The primary features of GWS in comparison to OHM and its other forks are that we aim for a lower, more sustained token dilution process. This meant keeping staking APY at a much smaller percentage than most every other fork has done. This also means intermittently hosting bonds to enable both dilution and positive price action over time. Effectively limiting the availability of bonding to make it more scarce which in turn will drive more users to utilize them when they are open.
Of course, combating inflation with sustainability only goes so far.
We have also implemented taxes.
Zero buy taxes to reduce any barrier of entry for new DAO members, however there is a 20% sell tax which dedicates 18% to supply reduction / removal (burning) and 2% to the treasury to fund giveaways, events and things of that nature. This is also an important aspect of combating inflation and, up to this point (about 15 days) we have managed to keep total inflation rates below 20% with a weekly burn of the GWS taxed tokens. In our eyes this is a very good rate as of right now, considering that some other forks utilize six and seven figure APY rates on staking to bring users in, only to have them end up in a loss due to the majority of large fund holders selling their stakes. This is also why we wanted to keep staking APY to a minimal more sustained rate.
All of this is in effect for phase one. Meanwhile, phase two aims to have GWS realize its true goal of its own layer one blockchain. While supporting the EVM we also intend to do things a little unique. Our primary development team will be building an application suite that will be readily available when our chain is live.
What is this application suite?
Well it is a dashboard or suite style program that will have all of the best DeFi protocols cloned and developed onto our chain all utilizing the GWS coin. Providing DAO members with a multi faceted application suite to realistically choose which applications they prefer to utilize and for their own purposes.