GARD Protocol Tokens
A comprehensive list with descriptions of all tokens currently associated with the GARD Protocol.
The Algo is the native token of the Algorand blockchain, and is one of the most versatile tokens in crypto and derives its value from its role in securing the Algorand blockchain. Given the immense value of Algorand's network and technology ALGOs are intrinsically valuable and the obvious choice for a valuable asset that may be used to back GARD.
gALGO (Governance ALGO) is a wrapped version of ALGO, minted by Folks Finance and that allows users to participate in Algorand Foundation Governance while maintaining a substantial degree of liquidity. In other words, it is the Folks Finance Algorand Governance token and it is minted, at a one-to-one rate with the committed original ALGO in the Folks Finance platform. Therefore, users who minted gALGO during any relevant Governance commitment period are eligible to participate in the Algorand Foundation Governance and any Folks Finance proposals related to it. Users can use their gALGO freely in the ecosystem: for example as collateral on Folks Finance, to interact with DEXs, to purchase NFTs, and so on. While gALGO is not the same as a regular ALGO and is not used in securing the Algorand network, it is valuable in that it is redeemable for ALGO and a very strong Algorand derivative.
GARD is decentralized money that is backed by intrinsically valuable i.e. useful assets. Its initial purpose was to allow a sort of liquid governance solution for Algorand governors and as a store of value for those who received it. In other words those who sought to gain leverage with it would be able to go out and redeem GARD as they chose while those who accepted it knew the promise that GARD would always be backed by at least USD $1 of collateral in ALGOs. Now GARD is meant to be all that and more and may not always be pegged to $1 but rather another asset that is a better store of value/more stable in the future.
GARDIAN is a loyalty token designed to reward active participants in the GARD Protocol with ownership from day one. GARDIAN token is a loyalty/voucher ASA that will be later redeemable for the GAIN token on April 15, 2025. There will be a total of 1,000,000,000 GARDIAN tokens minted that will be equivalent and later convertible to 5% of the total GAIN token supply (100,000,000 tokens). These tokens will be distributed by our protocol and other ecosystem partners to promote the growth of the GARD Protocol and broader Algorand community while making a commitment to decentralizing our protocol from day one. If more GARDIAN are minted in the future to fulfill the same purpose, they will be redeemable for GAIN at the same ratio. Also, if our protocol decides to discontinue the incentive program all tokens will be burned.
GAIN is the token that governs the GARD Protocol. Those who hold GAIN will be able to vote on changes to the GARD protocol, vote on the fees that GARD users are charged, vote on and enact the protocol’s monetary policy in regard to staking, vote on where to source pricing data from, vote on assets to add as collateral, and vote on the organization that will protect/further develop the protocol. GAIN will be decentralized so the DAO can make the best decisions for its future without founder interference. See the DAO section for more details, including technical functionality and initial votes. GAIN will allow users which have participated in the governance process to receive rewards from participation in protocol governance, which would entitle them to a portion of the TVL of GARD claimed as protocol fees locked in the Treasury. Users which have fulfilled certain participation thresholds (e.g. voting turn-out, proposal submission) are able to extract the rewards they are entitled to by exchanging their tokens with the Treasury and the Treasury will send the token holder the GARD earned. GAIN tokens in the Treasury are out of circulation; there is no way for GAIN tokens to leave the Treasury smart contract account (unless governance votes otherwise).