> For the complete documentation index, see [llms.txt](https://open-galaxy.gitbook.io/white-paper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://open-galaxy.gitbook.io/white-paper/glxy-tokenomics.md).
# GLXY Tokenomics
The interaction of users of the Open Galaxy DAO with its ecosystem is carried out using transactions of the GLXY token.
The main parameters of the GLXY token:
* Token Name: **Galaxy**
* Symbol (ticker): **GLXY**
* Fraction: **18**
* Total issue of tokens: **1,000,000,000**.
Its life cycle consists of such stages as *emission and distribution*, *release* *into free circulation*, *transfer*, *exchange* and *sterilization*, at each of which a certain set of actions with the token is allowed.
So, the **emission** (minting) of the token is limited and amounts to only 100 million. No additional emission is planned. The **distribution** of tokens will be carried out immediately after the issue in shares and between the groups of stakeholders defined below, some will be sold on the open market later during investment rounds, and some will be used in DAO funds — the staking fund, the reserve fund and the M\&A Fund.
### GLXY token initial distribution
| Category | Share, % |
|---|
| Team | 14 |
| Early Investors | 14 |
| Marketing | 12 |
| M&A | 15 |
| Listings liquidity | 5 |
| Staking | 12 |
| Grants | 1 |
| Private sale | 5 |
| Launch pad | 2 |
| Reserve | 15 |
| Advisors | 5 |
### The public sale of GLXY tokens will be carried out in several stages:
| Round | Share, % | Amount | Price, USD |
|---|
| Private sale | 5 | 50000000 | 0.03 |
| Launch pad | 2 | 20000000 | 0.03 |
| Listings | 5 | 50000000 | 0.1 |
In order to prevent an excessive supply of GLXY tokens on the market before the actual launch of the main DAO product (i.e. the launch of the collective venture capital investment service) and thus avoid a drop in the project capitalization, after the initial distribution of tokens, they will be completely blocked for transfers to any addresses other than the voting smart contract DAO. Depending on the category of the holder, the full blocking will last for the following periods, after the expiration of which, partial unblocking will be performed in equal shares on a quarterly basis until the end of the full period of hold.
### Terms of GLXY tokens blocking
| Category | Blocking period, months | Release period into circulation, months | Full period of hold, months |
|---|
| Team | 24 | 24 | 48 |
| Early Incestors | 36 | 24 | 60 |
| Marketing | 0 | 36 | 36 |
| M&A | 24 | 60 | 84 |
| Listings Liquidity | 0 | 0 | 0 |
| Staking | 0 | 36 | 36 |
| Grants | 0 | 24 | 24 |
| Private sale | 12 | 12 | 24 |
| Launch pad | 6 | 12 | 18 |
| Reserve* | 0 | 0 | 0 |
| Advisers | 12 | 12 | 24 |
{% hint style="info" %}
\*Reserve is frozen until special voting
{% endhint %}
### Circulating supply, mln tokens
After the initial distribution and unlocking, the use of tokens practically ceases to be limited — the exchange of tokens for other assets outside the platform becomes available, as well as their free transfer. Due to the removal of restrictions on transfers of tokens between users and smart contracts, the following applications become available for holders:
* voting on key decisions on the platform, platform management
* admission to participate in various rounds of investing in startups presented on the platform
* receiving income from staking by placing them in DEX liquidity pools or transferring them to the platform's staking smart contract
* evaluation of startups for their publication in the platform catalog
* transfer of a share of platform management rights
* transfer of value, etc
After the launch of the main product of the DAO — a collective investment service — the Open Galaxy community members will be asked to vote on the volume and frequency of the buyback of GLXY tokens from the free market due to the DAO's operating profit, thereby reducing the supply and increasing the value of the token through **temporary sterilization**. The tokens bought out from the market will be placed in the staking fund and the reserve and development fund, but will be frozen for a period determined by the same vote. Thus, the DAO community will be able to quickly maintain the value of the GLXY management token, including by reducing the free supply.
---
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