Gluteus Maximus AI - Gluteus Maximus by Virtuals
  • Litepaper: GLUTEU Governance, Senator NFT Rewards & LEGION Utility
    • 1. Introduction
    • 2. GLUTEU Token
    • 3. Senator NFTs
    • 4. LEGION Token
    • 5. The Senate: Senator NFT + 100k LEGION Stake for Governance & Rewards
    • 6. Governance Proposals: GLUTEU Burn
    • 7. Long-Term Design: 10-Year Sablier Lock & Sponsorships
    • 8. Market Dynamics of Senator NFTs
    • 9. Technical Innovations & Security
    • 10. Conclusion
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  1. Litepaper: GLUTEU Governance, Senator NFT Rewards & LEGION Utility

6. Governance Proposals: GLUTEU Burn

6. Governance Proposals: GLUTEU Burn

6.1 Creating Proposals

To propose a change or new initiative, the initiator must burn a set amount of GLUTEU (e.g., 1,000 tokens), preventing spam and ensuring only serious proposals move forward. This mechanism:

  • Deflationary: Gradually reduces GLUTEU’s overall supply.

  • Quality Control: Genuine proposals are more likely as each idea costs GLUTEU to introduce.

6.2 Real-Time Tally & End

  • Real-Time Voting: As seats vote, totalVotes changes live.

  • End Proposal: Once the voting period closes, final totalVotes is locked, and the distribution snapshot occurs in the Senate Coffers.

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Last updated 3 months ago