Giza DAO: the (6,6) Pool for Our Diamond Hands

Background The Giza protocol has started on 1st Dec, the price of GIZA token performed well in the first two days, the Market Cap of Giza pumped to $23M. Giza’s treasury balance even hit $7M before. Unfortunately, the whole market fell, the price of Bitcoin dropped to $41k and the price of FTM dropped below $1.2. Such a market was a huge nightmare to a newborn project, the price of GIZA also dropped below $12, far from the back price. To recover in a tough market environment and give more incentives to our diamond hands, we introduce you to the (6,6) pool.

What is the (6,6) Pool? We want to start the (6,6) pool on December 28th. The (6,6) is a new staking system and gives rewards to the wsGIZA token stakers, which means if you participate in the (6,6), you can enjoy double rewards, not only the (3,3) rebase rewards, but also the wsGIZA token rewards from the protocol.

Where are Rewards of the (6,6) Pool from? As the team tokens are locked up for a year, and we can not use them now. So we decide to use the GIZA tokens in our DAO address. The GIZA tokens in our DAO address are the fees when people bond and they are shared by all the GIZA holders. We will wrap the GIZA tokens in the DAO address and use them as the rewards of our (6,6) staking pool. Each day (12:00 UTC to 12:00 UTC) 25% - 40% of new funds added into the Treasury during the preceding 24-hour period will be used to buy back GIZA tokens from the market, converted to wsGIZA tokens, and then add them to the Prize Pool for distribution to the (6,6) pool members.

Rewards Distribution of the (6,6) Pool Each day, a maximum APR of 4% (adjustable) will be earned from the (6,6) pool, and distributed to holders every hour, and this will require manual claim and restake. The amount you can claim each hour will be calculated as follows: Amount of wsGIZA Staked x APR / 24.

The (6,6) Pool Lockup Rules wsGIZA holders need to stake their wsGIZA into the (6,6) pool and the rewards for them are wsGIZA tokens, which means the rewards can also enjoy the (3,3) pool APY. All your staked wsGIZA tokens in the (6,6) pool will be locked up for 6 days and when you claim or claim and stake the rewards, the locked-up time will refresh. If you withdraw the wsGIZA tokens before your locked-up time, you will lose all the rewards and 30% of wsGIZA principal staked.

Adjustment of the (3,3) Pool To make the market cap of GIZA tokens grow properly, we will decrease the APY of the (3,3) pool but you can still enjoy a higher APY than before in the (6,6) pool. This is how we set apart the diamond hands from others and let them enjoy more rewards.

What is Next? We will combine the（6,6）pool with our (4,4) bond after the (6,6) pool works steadily. We will call the new bond type (10,10).

Risks The (6,6) pool codes have not been audited yet, but we referenced the codes of MetaversePro and have tested them many times. We are contacting audit firms for the new codes now. The (6,6) pool means higher inflation of the whole Giza system in the beginning, the price of GIZA tokens may fluctuate wildly.