Deflationary tokenomics
Embracing the concept of deflationary tokenomics, the GEC token embodies a strategic tokenomic model designed to ensure sustained value appreciation. Unlike traditional currencies, where the supply can be adjusted at will, GEC operates on a fixed supply basis, fostering intrinsic value growth as demand escalates.
As a utility token, GEC serves as a versatile tool within the Geco.one ecosystem. Users leverage GEC to acquire Elite Memberships, gaining access to a range of benefits in the Elite program, including reduced transaction costs. It's worth noting that GEC undergoes controlled supply reduction every quarter through a process known as burning, strategically designed to enhance the token's long-term value.
During these burning events, GEC tokens used on the Geco.one exchange are systematically transferred to a secure wallet inaccessible to any party, effectively removing them from circulation. This meticulous approach ensures a gradual reduction in the token's total supply, thereby increasing its scarcity and strengthening its value proposition.
Since its inception, a total of 173,105,106 GEC tokens have been minted, marking the beginning of this groundbreaking economic paradigm. Starting from the inaugural burning event on December 28, 2021, the primary goal has been to gradually reduce the total supply to the target threshold of 21 million GEC, representing approximately 12.13% of the initial issuance.
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