FAQ

What is the $GG Token?

$GG or Galaxy Goggle DAO is a decentralized elastic token protocol built on Binance Smart Chain. Each GG token is backed by a basket of assets (e.g. BUSD, BNB, etc) in the treasury, giving it an intrinsic value. The $GG token also acts a co-governance token (with $APE-X) for the APE GALAXY.

In addition to providing intrinsic value to the $GG token, assets in the treasury will be deployed into various yield generating and investment opportunities with the goal of providing perpetual growth.

Finally, GGDAO also introduces economic and game-theoretic dynamics into the market through staking and minting. $GG is an audited fork of the $TIME codebase.

What is the $Ape-X Token?

Ape-X is a multi-chain RFI token (AVAX and BSC) that originated during the Avalanche Rush boon on AVAX. Born as a based meme, Ape-X has evolved to become the co-governance token of the APE GALAXY and will soon serve as in game currency.

Wtf is the point of Ape Galaxy?

Our goal is to create a DAO governed treasury and suite of applications focused on gaming and media. In the short-term, we believe that our collective will drive value to the holders of $GG and $APE-X tokens, as well as to Death Apes NFTs, via treasury growth (i.e. yield and investments) and incentivized gaming applications. In the long-term, we believe that we can create a thriving, community-driven ecosystem wherein crypto-natives and noobs alike can interact/participate in developing novel primitives/applications to crypto as a whole.

Based, but how tf do I participate in the Ape Galaxy?

Apes can participate in a number of ways, through PvP gaming with the $GG and $APE-X tokens, trading $GG and $APE-X, staking or minting $GG or hodling $Ape-X for reflections and governance, amongst other upcoming ways.

There are two main strategies for market participants of GG: minting and staking. Stakers stake their GG tokens in return for more GG tokens, while minters provide BUSD or GG/BUSD LP tokens in exchange for discounted GG tokens after a fixed vesting period (5 days).

For $APE-X, market participants can simply HODL it to receive reflector rewards and participate in governance.

Governance participants ($APE-X and $GG Holders) can get involved through discussions on our community discord while also proposing and voting on the official DAO Site. We are always looking for new community members to contribute!

Let's take a closer look at $GG dynamics because it is a little more complex than $APE-X.

The main benefit for stakers comes from supply growth. The protocol mints new GG tokens from the collateral pool, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

The main benefit for minters comes from price consistency. Minters commit capital upfront and are promised a fixed return at a set point in time; that return is in GG and thus the evolved ape’s profit would depend on GG price when the bond matures. Minters benefit from a rising or static GG price.

Finally, the intrinsic value of $GG can be increased via minting (as it brings more collateral into the treasury), or through external treasury growth initiatives. Long-term we are planning to shift the incentive away from minting/staking (as it is dilutive in nature) and focus on more on growing the intrinsic value of $GG by deploying treasury funds into various growth opportunities (i.e. yield farming and game development).

Who are the based creators of the APE GALAXY?

Our initial team is an anonymous group of based DeFi veterans and memelords, who truly believe in censorship resistant monies and applications. In this vein, the team has shifted away from central control to a true community-driven DAO model.

Who Runs the APE GALAXY?

Apes! The APE GALAXY is completely DAO-governed. All decisions are formed by the holders of our governance tokens, $APE-X and $GG, on the BSC and Avalanche network.