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BANANAS ($GLMB) is at the center the GLMR APES DAO economy. It’s our game currency, and we plan to provide much more utility in the future as the project grows.
Keep in mind that BANANAS ($GLMB) is a micro-cap token with tiny liquidity, so it it subject to massive price oscillations. Until it grows and matures, there is little to no indication of the success of token. The current total supply can be found on-chain here.
Every staked GLMR Ape minted 1 GLMB per day from mid-February 2022 until November 15th,2022*.
Staking GLMR APES NFT is the only way to create new $GLMB tokens. There is no other way to mint additional tokens.
*As voted by the DAO on this proposal of November 2nd-4th, 2022 the staking ratio decreases of 20% per month on each 15th of the month from November 15th to March 15th until it reaches 0.33 GLMB/day/Ape staked.
GLMR APES have the option to vote periodically on the staking ratio of the GLMR APES NFT. The next vote on the matter is scheduled for the end of March 2023.
• From November 15th 2022, the GLMA staking ratio is set at 0,8 GLMB/day/Ape
• From December 15th 2022, GLMA staking ratio is set at 0,64 GLMB/day/Ape
• From January 15th 2023, GLMA staking ratio is set at 0,51 GLMB/day/Ape
• From February 15th 2023, GLMA staking ratio is set at 0,41 GLMB/day/Ape
• From March 15th 2023, GLMA staking ratio is set at 0,33 GLMB/day/Ape
As of January 14th, 2023 the total circulating supply was standing at 191,400 GLMB.
The main utility of the $GLMB token is to allow the players to access the Great Escape game. Each game session costs 1 $GLMB.
Each week, more than 140 prizes made of both GLMR and GLMB tokens are distributed to the best and/or most active players of the game.
$GLMB have also been periodically used to pre-mint some NFTs from our ecosystem such as GLMR Jungle and Badges ahead of everyone else and usually with a big price discount (compared to the public mint).
The token was also used between April and July 2022 to purchase hand made paintings of the GLMR APES NFTs that were shipped worldwide to their owners.
The token might have additional utilities in the future (if the DAO wants it) that could include : purchasing merch and sponsorship fees.
As stated above, the main utility of the $GLMB token is to access the game. Each session costs 1 $GLMB out of which: