Emission reduction

While we are still very confident we have created an excellent product, current conditions have not led to the success we have anticipated. The Harmony network currently does not contain enough TVL, nor enough capital inflow to provide a positive impact under current conditions.

In order to protect our community, this proposal is designed to reduce inflation and help maintain $GMI token value, until the time comes when conditions improve. We propose reducing of the current $GMI emission rate and offer several options to choose from:

1 - Maintain current emissions 2 - 50% reduction of the emissions 3 - 65% reduction of the emissions 4 - 75% reduction of the emissions

During this period of reduced emissions, our Team will continue the effort to improve the project and expand opportunities. Farming and staking will remain operational, just at a reduced rate of rewards.

If it is decided by the DAO to expand to another chain, or general conditions improve, emissions can once again be restored to their previous rate .

Voting: This proposal will be live on Snapshot : https://snapshot.org/#/wagmigovernance.eth

Voting power: Your voting power is based on your staked amount of $GMI.

For example: If you’ve staked 1000$GMI, but now you have 1500$GMI due to compounding, only the initial 1000 $GMI is counted towards voting power.

If you wish to vote with your entire amount, you must first unstake, and then restake once again. This way all of your 1500 $GMI will be taken into account.

Snapshot time: Approximately 12/12/2021 — 1PM UTC (Block 20397380) Vote Start: 12/12/2021 — 3PM UTC Vote End: 13/12/2021 — 3PM UTC