Jungle Bank | Notion

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Concept

All thriving civilisations in history have had proper monetary policy at the service of its people. Apes are relaxed and just care about bananas. But in case they have aspire to world domination, they set up the jungle bank to help them.

The Jungle Bank is governed by quarterly votes by GLMA, as explained on our DAO article. It manages the tokenomics to ensure the stability $bananas. Its our public bank: by the apes for the apes. It also manages the economy’s treasury: how much is dedicated to development, marketing, and other areas to grow the project.

Banana Policy

Think of $banana policy as monetary policy. These are the set of levers and ratios the GLMA DAO can adjust and decide on to operate the Jungle Bank and affect $banana tokenomics. This is not a closed list as more may come up as the project develops:

Distributing the $banana airdrops to Bunch of Bananas (BoB. holders). See our BoB article to see the executed and planned drops.
Distributing $banana LP Rewards to Liquidity providers in BananaSwap.
Periodically purchase or sell $banana on BananaSwap to protect $banana price.
Providing liquidity for BananaSwap in order to keep a satisfying level of liquidity and allow for a smooth swapping process with a reasonable price impact. The reasonable level will be subject to a community vote in order to set a range of acceptability, for example: 5 to 10%.
Burning a part of its $banana treasury and/or distributing a portion of it to GLMR APES holders.
Allocating a percentage of the weekly game fees to offer in-game rewards.
Collecting $banana from Merchandise sales or additional game sales.
Rewarding active/useful community members.
Other functions as the project develops approved by GLMA.

Community Funds

As of May 2022, a total of 31,639 GLMR have been collected for the community. These funds come from minting proceedings and secondary market royalties. They are allocated in the following way:****

Initial game rewards: 15.819,5 GLMR (50%). These funds will be entirely staked until the game launch. The Game rewards wallet will also receive half of the royalties on GLMR Jungle second-hand sales. We call it “initial game rewards” because we plan on going after several grants and partnerships and plan on re-allocating most (75%-90%) of the funds collected to this wallet.
Game Development + DAO Marketing: 11.706,43 (37%). To create the catchiest game possible and make sure a lot of people hear about it!
GLMR Apes community wallet: 3.163,9 GLMR (10%). Because we take care of our OGs, these funds will be added to the 1692.42 GLMR staked on the GLMR Apes community fund and to the 174 GLMR sitting in the immediately available community funds.