As suggested by Jae Kwon, a dual token model that uses a fee token with a fixed-constant-inflation (not exponential as in staking tokens) will have the following advantages over a single token model:

1. Majority of end-users are tech-ignorant, meaning that most of them are clueless to which validators they should be supporting and how to evaluate governance proposals. Simply put, the dual token model mitigates the operational risks by offloading the governance responsibilities from the end-users to nodes, validators, and network stakeholders who have an actual understanding of the blockchain.

2. The point of the governance token is to be staked on the Network for the security of the blockchain. What’s ironic about a single token model is that the more traction a blockchain gets, the more tokens are likely to get unstaked to be used as gas fees, which leads to a decrease of the security of the Network. Having a dual token model addresses this issue.

3. A fixed-constant-inflationary fee token that’s solely dedicated to fueling the contracts of the blockchain will allow users to hold the token in a wallet for future usages without worrying about the value of tokens getting inflated away.

We’re researching more on the dual token model suggested by Jae Kwon, and ways to implement it on Gnoland to maximize sustainability and usability of the tokenomics.

Slow, expensive, unintuitive — these are the stereotypical traits that come to mind when using or coding applications on existing blockchains. Despite the heavy inflow of capital into the blockchain scene during the recent years, developers that are focusing on decentralized apps that run on smart contracts are quite scarce. The likely reason behind this is the lack of an efficient smart contracts platform for developers to commit to. We believe that Jae Kwon is building Gnoland to introduce a performant blockchain that’s capable of running smart contracts that fully leverages the advantages of Golang and the advanced hardware of modern computers.

We, as Gnomes, look forward to exploring ways to contribute to the development and adoption of Gnoland, a scalable blockchain that we believe will onboard millions of developers that will deploy innovative applications, accelerating the transition of the internet to Web3.

As suggested by Jae Kwon, a dual token model that uses a fee token with a fixed-constant-inflation (not exponential as in staking tokens) will have the following advantages over a single token model:

1. Majority of end-users are tech-ignorant, meaning that most of them are clueless to which validators they should be supporting and how to evaluate governance proposals. Simply put, the dual token model mitigates the operational risks by offloading the governance responsibilities from the end-users to nodes, validators, and network stakeholders who have an actual understanding of the blockchain.

2. The point of the governance token is to be staked on the Network for the security of the blockchain. What’s ironic about a single token model is that the more traction a blockchain gets, the more tokens are likely to get unstaked to be used as gas fees, which leads to a decrease of the security of the Network. Having a dual token model addresses this issue.

3. A fixed-constant-inflationary fee token that’s solely dedicated to fueling the contracts of the blockchain will allow users to hold the token in a wallet for future usages without worrying about the value of tokens getting inflated away.

We’re researching more on the dual token model suggested by Jae Kwon, and ways to implement it on Gnoland to maximize sustainability and usability of the tokenomics.

Slow, expensive, unintuitive — these are the stereotypical traits that come to mind when using or coding applications on existing blockchains. Despite the heavy inflow of capital into the blockchain scene during the recent years, developers that are focusing on decentralized apps that run on smart contracts are quite scarce. The likely reason behind this is the lack of an efficient smart contracts platform for developers to commit to. We believe that Jae Kwon is building Gnoland to introduce a performant blockchain that’s capable of running smart contracts that fully leverages the advantages of Golang and the advanced hardware of modern computers.

We, as Gnomes, look forward to exploring ways to contribute to the development and adoption of Gnoland, a scalable blockchain that we believe will onboard millions of developers that will deploy innovative applications, accelerating the transition of the internet to Web3.