GNOT vs GNOSH tokens in GnoLand

It's all about proof of contribution

Aug 3, 2022·

2 min read

GNOT vs GNOSH tokens in GnoLand

While people are waiting for the official white paper and tokenomics of GnoLand and
before wrong rumours start to spread from people who don't take or have the time to dig through social media posts, here's a short summary.

Since it's the vision of the founders to make governance independent from what you own, proof-of-contribution has been implemented. It's only fair to say that people who actually care, engage and contribute in a project or blockchain, should have more voting power then people who have a lot of money but never even contributed in any other way then staking their money to gain incentives and voting power. You have to think that blockchain and web3 is global and 200$ in your country might be nothing while 200$ in another country might be more then a months salary.

In my personal opinion, salaries should be based more on your contribution to society instead of how it is now. This would already be a great start to create a fairer social-economic society. I know it's not a popular opinion but it's mine. This does not mean that larger incomes should automatically earn less, this just means that the low incomes should be higher so the gap becomes smaller. In Belgium the whole country survived without a government for over 300 days but when the garbage collectors went on strike for a week, the whole country was a disaster.

Anyway, back to GnoLand $GNOT will be used for gas and fees and whatever it can be used for in the future and potentially even become inflationary.

$GNOSH on the other hand will be distributed to people who engage and contribute to the blockchain and project in any way they can, whether it's coding, translations, writing articles, testing new features, art or sharing any form of ideas, knowledge and talent. $GNOSH can be seen as GNO SHares and will be used for voting on proposals that have an impact on the blockchain and the future of GnoLand, like changing some code for example. $GNOSH holders might potentially also receive a portion of the gross income of the chain. Not all of the earnings of GnoLand will go to the $GNOSH holders. A portion, a larger one eventually, will go toward funding DAOs on GnoLand, each with their own mission, objectives, treasury and members.

I hope this cleared up some confusion until the official white paper gets published.

Feel free to share this article with people who are confused or spreading FUD.

Thank you