The deployer wallet no longer owns the GMR token contract. The contract is now owned and managed through our timelock contract, which, in turn, is "owned" by our multisig wallet. You can find the ownership transfer transaction details below.
The most important aspect of the timelock contract is that any functions called on the token contract are delayed by a minimum of two days. This gives investors ample time to leave the project should the proposers of the multisig wallet (essentially the administrators) try to make a call that will harm investors.
We have chosen to implement a blockchain-based minting schedule with appropriate limits and restrictions. If we imagine for a moment that those restrictions do not exist, then in the unlikely event an admin attempted to "over-mint", this proposal would still require a 50% + 1 vote for approval, and then be subjected to a two-day delay before the call can be executed, which will allow investors the time necessary to leave the project.
As you will know, right from the start, we have promised that gamers will be able to participate in play to earn, staking, and even more innovative ways to game while being rewarded.
We will introduce a secure, restricted, and ultimately community governed minting schedule to make this possible. All minting is restricted until May 4th, 2022, our anniversary. It will be governed by a 5-year blockchain-based minting schedule, limiting and gradually reducing the number of tokens that can be minted in any given year. The hard cap baked into the minting schedule sets the ceiling for total mints in a given year.
Any decision to mint additional tokens will be subjected to our developer/community governance committee and mechanisms, and of course, the restrictions imposed through our multisig and timelock security measures. Meaning any successful execution to mint will have been proposed, voted on, and ultimately delayed for a minimum of two days.
The current minting schedule will allow for the following maximum yearly mints:
- From May 4th, 2022, and throughout the rest of that year: 225m.
- 2023: Up to a maximum of 175m.
- 2024: Up to a maximum of 125m.
- 2025: Up to a maximum of 75m.
- 2026: Up to a maximum of 50m.