We are pleased and excited to announce the launch of two additional weekly Burn Events. The Monday 50 and The Wednesday 50 ! 🔥
These two new weekly burn events are the same core concept as The Friday 50. For those unfamiliar with the concept behind the original weekly burn event; The Friday 50, please see below article/video.
The difference between The Friday 50 and the two new weekly burn events is what is being burnt. The Friday 50 burns and rewards TBILL Tokens. Whereas The Monday 50 and The Wednesday 50 burn 🔥 and reward Liquidity Pool Tokens.
The Monday 50 burns (TFUEL/TBILL) LP Tokens.
The Wednesday 50 burns (gNOTE/TBILL) LP Tokens.
Why we are now introducing the option of burning LP Tokens?
From our purview it was important to create some optional mechanisms that can contribute or assist in bringing balance to the overall system design. As well as benefiting or helping all participants from the community involved in LP staking. It is also important to highlight that the burning of LP Tokens or TBILL is a purely optional mechanism or spoke in the wheel as it relates to the function of the overall design as a whole. Not forgetting of course that those who partake in any of The 50 weekly burn events stand to earn a proof of burn reward if they have an awarded time slot claim and it also introduces an element of fun to proceedings!
Another significant piece or spoke to the overall wheel of balance we envisage will be revealed in the next rebase iteration (Rebase 1.1). This will then again be further enhanced in the subsequent rebase iteration (Rebase 2.0). All of these continuing rebase iterations and optional burn mechanisms combined all contribute to the evolving enhancement in stability and balance to the overall system design as a whole. Elements of the coming rebase iterations also take into account some behavioral patterns we observed from some participants who entered and exited LP staking and how those learning's can now be applied to improve LP staking as a whole for the community.
Just like the The Friday 50, The Wednesday 50 NFT’s are all denominated in varying amounts of TBILL. The slight difference between the two being that for the Wednesday 50, 01 Burn is worth 10 TBILL of gNOTE/TBILL LP Tokens. As opposed to 01 Burn being worth 10 TBILL Tokens in the Friday 50.
The available NFT denominations that can be earned via burning gNOTE/TBILL LP Tokens follows the below table. This is the same as the burn table for the Friday 50.
Each week, as The Wedneday 50 NFTs are minted 50% of the gNOTE/TBILL LP tokens are immediately burnt 🔥 forever. The remaining 50% of the gNOTE/TBILL LP tokens from the aforementioned NFTs is sent to The Proof of Burn Reward Distribution Smart Contract and is distributed evenly across 10 separate claim lists.
The more burns one has, the more time slots are received on each of the 10 separate claim lists.
As we are planning Wednesday, Dec 21st as being the launch date for the next burn event. It will be The Wednesday 50 burning (gNOTE/TBILL LP) Tokens that goes first launching on 12/21/22.
We will be following the same time format for The Wednesday 50 as has been the case with The Friday 50 weekly burn event.
As such, on Wednesday 12/21/22 from 06:00am — 17:30pm ET (New York) and every Wednesday thereafter. Anyone wishing to take part in The Wednesday 50 can earn/create their desired denomination(s) of Wednesday 50 NFT(s) @ The50.io
Between 17:31pm–17:59pm ET (New York) the 10 claim lists are compiled. The 10 claim lists go live at 18:00pm ET (New York).
The rewarded time increment on each of the 10 claim lists is always the very first time that is populated on each list. If all goes to plan the first time increment will be 18:00pm ET (New York).
If your allocated time is the first on any of the 10 separate claim lists, you have 10mins to claim the proof of burn reward. If the reward is not claimed within the specified 10min time period. The reward opportunity moves to the next time increment. And so it goes until each proof of burn reward has been claimed on each of the 10 separate claim lists.
The following Monday, December 26th sees the launch of The Monday 50 (burns and rewards TFUEL/TBILL LP Tokens). 🔥
All the same details/timings as outlined above for The Wednesday 50 will also apply to The Monday 50.
Burn Address being utilized linked below.
Gas token required for the burn 🔥 transaction is TFUEL.
Added Twist of NFT Gifting, The Giving Tree🎄.
The Giving Tree Donation Address: 0x76D5c50EF42eB09E86AECd44aBCF6F8f70815dDb
In the spirit of the Christmas season we are enabling the community an opportunity to donate Gworld NFT’s to something we are calling the Giving Tree. For those wishing to partake. Any Gworld NFT can be donated to the Giving Tree donation address.
Giving Tree donations commence, Wednesday, Dec 21st, 2022.
Giving Tree donations conclude, 6pm (ET), Wednesday, Jan 11th 2023.
Giving Tree NFT’s distributed, Jan 12th, 2022 to the VRF selected winners.
Behind the scenes we will be tracking every address to claim a burn reward, across the next ten weekly 50 burn events (Wed 50, Fri 50 &Mon 50) Dec 21st, ‘22 — Jan 11th ‘23.
The first one being The Wed 50, 12/21/22.
The last one (tenth) being The Wed 50, 01/11/23.
Those addresses that have had a successful proof of burn claim, in any of the ten aforementioned weekly 50 burn events (Wed 50, Fri 50 or Mon 50), will be in line to receive one of the donated Gworld NFT’s from the Gifting Tree. What address receives which Gworld NFT will be randomly generated by verified random function (VRF).
With 10 weekly burn events (12/21/22–01/11/23) and 10 claim lists for each event. That leaves 100 addresses in the running for community donated Gworld NFT’s.
If more than 100 Gworld NFT’s are donated the distribution will randomly continue to the Claim addresses.
Please note, send only Gworld NFT’s to the Giving Tree donation address.*
The Giving Tree Donation Address: 0x76D5c50EF42eB09E86AECd44aBCF6F8f70815dDb
Link for The Giving Tree page view below (see all NFT’s that are gifted to the Giving Tree initiative, live updates on this page commence today 12/21).*
See if you have received an NFT from the Giving Tree, connect wallet to the above page link on Jan 12th or beyond.*
Upcoming NFT Burn Event, Dec 30th 2022
DeBurn 🔥
As requested by some members of the community we are facilitating a New Years NFT burn event. For those who were directed by their accountants to burn NFT’s at a loss in the 2022 fiscal year. We are technically facilitating the option to do so.
This is in no way financial advice. With the added caveat that everyone should consult with their accredited financial advisor before undertaking any such actions. The burning of NFT’s is final and cannot be undone.*
Those wishing to avail of the NFT burn,
Please SEND NFT’s to the Sent to be Burnt Address below.
0xaE328B048f73858b72385636C0136bEd9F610149
Cut-off to send NFT’s (New Years Burn): 8pm (ET), Dec 30th, 2022.
Burning of NFT’s: 9pm (ET), Dec 30th, 2022.
DeBurn 🔥
Commemorative Burn NFT’s
To celebrate the New Years ’23 NFT burn event we will be minting 3 new commemorative NFT’s for the Gworld community, Common, Rare and Ultra Rare. 🎆
You are eligible to receive one of these 3 commemorative NFT’s if holding at least one TBILL Multipler in a wallet.
9pm (ET), Dec 30th, 2022: Commemorative NFT Snapshot
9pm (ET), Jan 02nd, 2023: Commemorative NFT’s Issued.
For those unfamiliar with our previous issue of commemorative Burn NFT’s see article link below.
Cheers All,
Gworld Team 🍾
