GoMeat Staking Program

GoMeatToken
4 min readMay 17, 2023

In line with our 2023 objectives and to reward our loyal GOMT token Hodlers, we are beyond thrilled to announce the launch of the GOMT Staking Program

For 2023, our core objectives are to continue growing our business fundamentals and to put in our best efforts to ensure GOMT is in the right place at the right time, ready for the next crypto bull run.

In line with our 2023 objectives and to reward our loyal GOMT token Hodlers, we are beyond thrilled to announce the launch of the GOMT Staking Program. This is a one-of-a-kind staking program you all have been asking for!

While the GoMeat team stays razor-focused on the expansion of our fundamental business and execution of our expansion plan by adding more stores and launching GoMeat Services in new geographies in the USA, we want to make sure our esteemed GOMT Hodlers get rewarded for their patience with more and more valuable GOMT Tokens to use when they will need them.

GoMeat Staking program has been designed keeping in view what is important for our GOMT Hodlers as well as for GoMeat as an organization. With approximately 2 million GOMT in circulation, only 500,000 GOMT tokens are being offered for staking, and as soon as this limit is reached, the program will be concluded and no more GOMT will be accepted for staking. The returns are in line with current standards for other staking rewards, considering the limited GOMT token supply. It is easy to understand and follow. There are two staking durations being offered with respective returns. The GOMT tokens staked will be locked for the duration of the term.

A total of 500,000 GOMT tokens will be allocated on a first-come-first-served basis:

Staking reward for 360 days has now been raised to 10%!

Salient Features & Terms & Conditions of the Staking Program:

  • A maximum of 500,000 GOMT tokens can be staked out of the approximately 2 million GOMT in circulation.
  • No further staking will be accepted as soon as the 500,000 GOMT token limit is achieved. Any additional tokens (more than 500K GOMT) will be returned to the respective GOMT wallet address as mentioned in their Staking Portal and the portal will be closed.
  • Tokens will be staked either for a duration of 180 days OR 360 days only.
  • Staked GOMT tokens will be locked and cannot be withdrawn before the expiration of the staking term, i.e., locked for 180 days or locked for 360 days, as the case may be.
  • GoMeat may reimburse transaction fees up to 0.5 Hydra in the GOMT staker’s wallet as registered on the Staking Portal.
  • Staking duration will start from the date of approval of staking.
  • GOMT staked for 180 days will be rewarded at 4% return; e.g., for 25,000 GOMT, the staking reward will be 1,000 GOMT tokens at 4% of 25,000 GOMT.
  • GOMT staked for 360 days will be rewarded at 10% return; e.g., for 25,000 GOMT tokens, the staking reward will be 2,500 GOMT tokens at 10% of 25,000 GOMT.
  • GOMT Staking reward will be distributed at the end of the term along with staked GOMT tokens in the GOMT wallet address as registered on the staking portal.
  • GoMeat will be the custodian and be responsible for the management of the GOMT staking wallet.
  • GoMeat reserves the right to make adjustments/changes in the GOMT Staking program as deemed necessary for the success of the GOMT Staking program.

GOMT Staking FAQs:

Q: Are there any active GOMT exchange listing plans for GOMT on a crypto exchange soon?

A: Despite many active conversations with several exchanges, we do not have any exchange listing plans as of now.

Q: Will I be able to withdraw my GOMT tokens before the expiration of my staking terms?

A: No, you will not be able to withdraw your GOMT tokens before the expiration of the respective staking term.

Q: How many GOMT staking terms are being offered?

A: Only two terms are being offered, 180 days and 360 days

Q: Are there any specific timelines to participate in the GOMT Staking Program?

A: There are no timelines to participate in staking. However, as soon as the staking limit of 500,000 tokens is achieved, no more tokens will be accepted for staking.

Q: Who will be the custodian of the GOMT Staking Wallet?

A: GoMeat will be the custodian, and will manage the GOMT staking wallet.

Q: Why are only 500,000 GOMT tokens being offered for staking?

A: The staking limit is determined considering various factors such as total tokens in circulation (2 mil GOMT only), maximum reward distribution — 10% annual.

Q: How are the return percentages of 4% for 180 days and 8% for 360 days determined?

A: With a strong value proposition built on business fundamentals, offering enormous utility to the GOMT token holders with such a limited supply, each and every GOMT token is very valuable. Reward Return percentage is determined considering various factors such as total tokens in circulation and the availability of reward tokens.

Q: From which wallet will the GOMT reward tokens be distributed?

A: GOMT reward tokens will be distributed from the Hydra Incentive Plan Wallet

The GoMeat Staking Program will commence on 21 May, 2023 9AM CET

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GoMeatToken

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