GAIA Bank has implemented a governance token known as GGT (Gaia Global Treasury).
One Trillion have been minted as an ERC20 Token, set to become accessible over the next
four years. This means that, between now and 2024, 890 million GGT are set to be allocated to community members. GGT is set to be listed on major exchanges in the near future.
A public schedule has been released that shows how GGT will be vested to the community treasury, in addition to the special early opt-in dividend program.
In the first year, 40% of this supply will be released, 360 million tokens in all. This will decrease to 30% in the second year, 20% in the third, and 10% in the fourth.
To ensure that governance runs smoothly, 0.5% of GGT’s total supply on a delegated basis is required to submit a proposal in order to achieve a quorum, 4% of GGTs supply must back the proposal in question. Votes will take place over a seven-day period, and there will be a two-
day timelock before execution.