$GM is now on Hive Engine! | GM:FRENS Update

A little over a year ago...

I set out to create a token on the WAX blockchain and somehow find a way to reward users on Hive with that token. I had nothing but an idea. Luckily for me, there were already some great tools available for non-developers like myself to get started with this. Shout out to @mikedcrypto for building WAXDAO. You literally made this project possible.

I published the initial GM:Paper on September 11, 2022. Reading it now makes me smile. My baby has grown up. I launched this project as a way to encourage people to use Threads, which used to be on a feature on LeoFinance. Threads is not the primary feed of InLeo. Boy, how things change so quickly.

Over the past year, the project has evolved a lot. There have been a lot of ups, and some down. GM:FRENS turned into much more than just a token that you could mine for free to sell. There have been nearly 2,000 NFTs minted on the WAX blockchain across 133 wallets. There have been over 8,000 #gmfrens tag uses on InLeo. 197 Hive users have mined at least 6.9 GM tokens.

A shift in direction...

At one point, I felt like GM:FRENS was going to take us to the moon. Well, at least that's what I though for the app that we were working on. You can read the post I linked above for the lore. Unfortunately, I no longer have a dev to work on WAX stuff for the project. So now, we pivot.

I was driving myself insane trying to figure out what to do to keep pushing forward. @anomadsoul listened to me cry about this shit lol. Then the idea hit me. I knew it was time to bring GM to Hive Engine. The problem was... I had no idea how to make it happen. Luckily we have some amazing Hiveians out there, and someone stepped up to the plate.

So - we burned 35M $GM on WAX and minted 35M $GM on Hive Engine. I've already been asked if there will be a way to migrate the token between WAX and Hive Engine. The short answer is "hopefully". At current time, no. You will be able to earn $GM on Hive Engine by using the tag in your Threads. Of course, you can trade that token freely.

For the WAX side of things - users that want to go deeper can still use $GM on WAX to blend NFTs and such. So there will be new NFTs coming out very soon. We have a lot of work ahead of us. The ultimate plan is to enable staking of GM on HE. This requires 1000 BEE tokens, I think. Once there is token staking, I have some ideas for boosting GM earnings using the tag.

We launched our token distribution bot yesterday, and it seems to be funtioning correctly. Once per day, you can use the #gmfrens tag mentioned above in a Thread to earn 6.9 GM. This is short for "good morning, frens" but can realistically be used at any point. It's always a GM somewhere.

To remove some risk, we set up @gm-bank as the account to distribute tokens. In case the account is compromised, it will only have the tokens we issue to it weekly. Instead of the @gmfrens account issuing tokens directly to users, it will issue enough GM to cover weekly distribution to @gm-bank. It will take some time to have enough data to calculate this amount.

Onward!

So this is phase 1. Get it running. Need you guys to break the bot. I'll be working on NFT stuff over the weekend. More to come.

Stay weird.

❎❎❎

Posted Using InLeo Alpha