$GOP is set on a path to bring humongous returns to the users with its hyper-deflationary working model.
Imagine a coin that can proffer windfall gains that will elevate every user’s financial status over the moon? The GOP coin plans to ensure that every user participating in the process enjoys substantial gains on the whole.
What is the idea behind voting?
The GOP includes five heads of states: the USA, Germany, China, Russia, and the UK. But does this mean that only the participants of these five nations can vote? Most probably not. Seeing the fact that crypto is a global concept, there must be no limitations.
Which countries will be chosen next is unknown, but the plan is to add one president to the list every week. Initially, only the top 50 users in terms of $GOP can vote. The most probable cause of using this strategy is to restrict a huge influx of votes, which makes everything unmanageable and fussy.
One voting cycle continues for three days, after which the tabular results are shared with voters, and the results are shared. The candidates winning the voting rounds will receive the segmented rewards. The highest candidate will get 20% of the rewards, the middle candidates will get 30% rewards, and the candidate on the lower scale will get 50% of the rewards.
A Smart and Gradual way to enhance the price
Cryptocurrencies are burned to reduce the supply, squeeze the market size, and ultimately increase the price. The dual system of coin burning takes two names, regular deflation, and iterative deflation.
Under Regular Deflation, with every single transaction, 3% of the GOP is siphoned off, out of which 50% is burned, and the rest is sent to the reward pool. And the second way is Iterative Deflation. In this method, 8% of the GOP coins held in the Uniswap pool are further taken out. Here again, 50% of the coins are burned, and the rest 50% is sent to the reward pool.
Compared to the fiat currencies, the crypto coins run on deflation. Deflation occurs when the coins are burnt, and the users hodl the currency. Longer the hodling, higher the potential of the price increase. However, hodling does not necessarily mean that the price will increase per se.
For one, hodling asks the users to put trust in the asset and rest assured that it will continue working for a long time. Because if the currency fails, there is no point in hodling. Rather it will be a waste of money.
So, what does $GOP offer to nurture the user’s trust and ensure participation for the long term? The rewards, voting, and contests ensure community participation, which further keeps the virtuous circle of transactions and exchanges, leading to an increase in price.
Pre-Sale and Whitelisting of GOP
Out of the total pool of the GOP and ETH present on the platform, half of the entire pool will be locked. With the rest of the liquidity, the rewards and distributions operations are facilitated.
The presale is the first, and the initial approach for the users to obtain the $GOP and earn the power to vote. Hence, the makers of this currency will have to make sure that the preset hard cap is reached in the presale, if not, the gap amount will also be burned.
With all the contests (meme, Shilling, and Invite), the purpose of $GOP is to raise the user base and spike the price as quickly as possible. Plus, the likes of Doki Doki which locked the TVL of $40 million in just two days of the DStake function.
Talking about new ways to farm the user’s interest in cryptocurrencies, the Degen.VC is giving a cutthroat competition to ordinary venture capital funding mechanisms.
All in all, these cryptocurrencies are decentralized, transparent, and work for the community’s benefit without imposing autocratic controls. $GOP is also working in a similar manner. Getting rewards for voting for the best president in the world can seem a bit out of context at present, but if the future is addressed, such platforms can be scaled and used as official voting mechanisms.
Think about the value and popularity of $GOP if such a thing is brought into action. At present, everything is at a raw stage, and this is one of the reasons the GOP holds contests, coin burns, presale, and reward pools.
To Sum it Up
Game of Presidents is a voting based system that works to enhance user engagement on a large scale. Since it is based on the Ethereum blockchain, GOP is secure, faster, and better accustomed to exercises like live voting.
With smart tokenomics and distribution, the price of the $GOP is expected to increase to build a more lucrative platform gradually. This also implies that the early birds will get higher benefits and easy rewards.
Whether the GOP will be the next best thing in the world of cryptocurrencies or will $GOP face the dust due to loss of user confidence will be seen in the next few weeks.