Tokenomics

Embracing the concept of deflationary tokenomics, the GEC token embodies a strategic 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. Notably, 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, Each quarter, we add up all the GEC tokens used on the platform and the tokens bought from external exchanges by Geco.one, and permanently burn them. This reduces the number of available GEC tokens on the market.

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.

GITHUB https://github.com/Geco-one/gecoin-contract
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