What Exactly is gmDAO? Learn with MEXC Blog

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In September 2021, the gmDAO was established using a just token distribution. It is a group of investors, artists, and collectors of NFT. The DAO was established primarily on the principles of civility and respect for one another, which made its community a haven in an often hostile environment. The result of this was a tremendously passionate and engaged member base, of which the staff is incredibly proud.

What is gmDAO Token?
The DAO is structurally composed of 900 people, the majority of whom work in the NFT sector. Their backgrounds span from well-known generative artists to accredited investors with collections that have been highlighted on ArtBlocks curated. The team's primary goal is to encourage and assist the NFT industry's expansion.

The gmDAO currency, which serves as its native governance token, has artwork by renowned new media artist Rich Poole. The key to accessing our exclusive community is the gmDAO token, which also functions as a governance token and grants the holder the ability to vote and make suggestions regarding the direction of the DAO.

The "fair-drop" method was initially used to manufacture and distribute 1000 tokens. In this method, 10 tokens were given away each day through challenges for 100 days, and any tokens that were unclaimed on any given day were destroyed. As a result, there are 900 tokens in use right now, some of which are kept by the Treasury.

The Movement of Tokens
The group is transitioning from the current Rare contract to a brand-new custom contract for its DAO token. For the new token held by the holders, Rich Poole will create generative artwork.

The migration involves two steps. Please be aware that this requires holders to complete two transactions. The crew has tried to reduce gas whenever possible.

• Tokens currently held by owners must first be transferred to the new contract. The transfer will be recorded by the contract, and their address will have the ability to issue new tokens as a result.
• Holders can then produce more tokens whenever they desire during the migration.

Holders must comply with both requirements in order to complete the migration and maintain access to the DAO.

Recent Price & Performance of gmDAO Tokens
The collection gmDAO token's average price over the past 90 days has been 3.546 ETH, and its average transaction volume has been 1,723.3515. The gmDAO coin saw 2,400 ETH worth of transactions in total in September 2022.