What is the total supply of Gelato coins?

Gelato Network's GEL token empowers users to automate tasks on blockchains, facilitate payments, secure the network, and participate in governance.

Dec 30, 2024 at 05:55 pm

Key Points

• Gelato Network Token (GEL) is the native token of the Gelato Network, a decentralized platform for automating tasks on blockchains.
• The token serves several purposes, including enabling task creators to pay task executors, securing the network through staking, and granting voting rights in the network's governance.
• The total supply of GEL is capped at 100 million tokens, with a circulating supply of approximately 51.7 million tokens as of August 2023.
• The token is available for trading on various cryptocurrency exchanges, including Binance, Coinbase, and Uniswap.

Understanding Gelato Network and GEL Token

Gelato Network is a multi-chain platform that allows users to automate tasks on blockchains without the need for complex coding knowledge. Developers can use the platform to create bots that execute specific functions on a predetermined schedule or based on specified triggers.

GEL, the platform's native token, serves as a medium of exchange for paying fees associated with task execution. Task creators pay executors in GEL for completing tasks, and executors earn GEL for providing these services.

Token Distribution and Allocations

The distribution of the total supply of 100 million GEL tokens is as follows:

• Team and Advisors: 25% (25 million tokens)
• Seed Round: 18% (18 million tokens)
• Private Round: 17% (17 million tokens)
• Strategic Round: 10% (10 million tokens)
• Public Sale: 15% (15 million tokens)
• Ecosystem Fund: 8% (8 million tokens)
• Liquidity Fund: 5% (5 million tokens)
• Reserve: 2% (2 million tokens)

Token Utility and Value

GEL has several use cases within the Gelato Network ecosystem:

• Task Execution: Enables task creators to pay executors for completing tasks.
• Staking: GEL holders can stake their tokens to secure the network and earn rewards.
• Governance: Stakers have voting rights in the network's governance process, allowing them to participate in decision-making.
• Incentivization: GEL is used to incentivize participation in the network by rewarding task creators, executors, and stakers.

Token Supply and Circulation

The total supply of GEL is capped at 100 million tokens. As of August 2023, the circulating supply is approximately 51.7 million tokens. The remaining tokens are allocated to the ecosystem fund, liquidity fund, and reserve.

Trading and Market Dynamics

GEL is traded on various cryptocurrency exchanges, including Binance, Coinbase, and Uniswap. The token's price can fluctuate based on factors such as market conditions, network usage, and overall demand and supply.

FAQs

Q: What is the role of GEL in the Gelato Network?
A: GEL is the native token of the Gelato Network, used for task execution, staking, governance, and incentivization.

Q: What is the maximum supply of GEL?
A: The total supply of GEL is capped at 100 million tokens.

Q: How do I acquire GEL?
A: GEL can be purchased on cryptocurrency exchanges such as Binance, Coinbase, or Uniswap.

Q: What are the factors that affect the price of GEL?
A: The price of GEL can be influenced by market conditions, network usage, demand and supply, and industry news and developments.

Q: Can I stake GEL?
A: Yes, you can stake GEL to secure the network and earn rewards. Staking also grants voting rights in the network's governance.