Gourmet Galaxy (GUM) Review
Gourmet Galaxy aims to provide a solution to yield farming’s current issues through the use of NFTs. The GUM Swap protocol is simple to use and was designed with references to the renowned AMM-based swap protocols such as Uniswap and SushiSwap in mind.
GUM for Gourmet Galaxy NFT Tokens are offered via the Galaxy Market, where you can use them to buy GUM Tokens and build worlds (PLANET). The Gourmet Galactico game requires the use of the Planet token feature, which is critical to the whole project.
Gourmet Galaxy’s goal is to design a blockchain game that is simple to play but addicting to increase participation. The GUM Token will gain an inherent value via a combination of yield farming incentive tokens and NFTs, which will keep its value constant under bad market circumstances.
How Does It Work?
3 different tokens currently exist on the Gourmet Galaxy platform: GUM, FOOD, and PLANET. All of them are built on top of the Ethereum blockchain and are powered by Polkadot. Each has its own use cases, and all will contribute to the success of Gourmet Galaxy.
Although there are a limited number of blockchains that can handle smart contracts, it would be irrational for Gourmet Galaxy to rely exclusively on one. The platform will be able to accommodate Binance Smart Chain and Huobi Eco Chain bridge connectivity.
In addition, they are focusing on integrating Layer 2 technologies such as Matic Network and Nulsio to provide a much more scalable architecture. Having more chains linked to the Galaxy means there are more potential outcomes, as well as additional options for users.
What Exactly Is The GUM Crypto Token?
Those who contribute liquidity to the farming platform will be rewarded with Gourmet Galaxy’s GUM Token. In-game activities such as Duel Mode and Building Mode use GUM as the basic currency. Users must utilise GUM to purchase food on FOODMARKET to create their PLANET.
As with a stake model, Gourmet Galaxy employs a stake model, which secures your GUM on your own planet, allowing you to earn passive revenue in the same way. It works like this: GUM is inextricably linked to your planet, which in turn has a higher value in the marketplace. A small percentage of consumers who made FOOD token purchases via FOODMarket will get GUM as a reward.
Any Galaxy Market charges are set by the GUM committee, which is made up of GUM holders. The committee also decides on future game features along with other decisions such as fees.
What Exactly Are FOOD Crypto Tokens?
Forging your PLANET requires the use of FOOD, an ERC-1155 token that is non-fungible. The supply of FOOD in the Galaxy Market is restricted, which will cause the price of FOOD to rise with the demand in the market. Food tokens may arrive in the shape of items such as water, flour, bacon, or pineapple. These can be used to power up your planet, making it more valuable.
What Are PLANET’s Crypto Tokens?
Planets in the Galaxy Market (ERC-721 tokens) are distinct worlds that have their own specific features. Some participants believe the value of PLANET rests on the GUM revenue it produces each month, while others believe it is dependent on the price of the PLANET token on the Galaxy Market. Some legendary PLANETS reward their owners with FOOD tokens every week, which is more than 15% APY. There is a limited quantity of plants (up to 1,000).
What Is the Process of GUM Yield Farming?
The Gum yield farming platform is where users will have the option of either providing liquidity in return for GUM tokens or receiving GUM tokens for their liquidity. All of the GUM on the market is now valued at 49.75% of the entire supply. Therefore, on average, there are 6.5 million blocks in the market every day. Each block reward will be set at 1 GUM.
What Is GUM Swap and How Does It Work?
GUM Swap is a decentralised exchange built on top of Ethereum and operated using Polkadot as its backend. The GUM Swap improves the trading pairs’ speeds, costs, and slippage rates to provide a quick and easy trading experience for customers. GUM now offers trading pairs with ETH and USDT, and more pairs will be offered in the future.
What is GUM PAD?
Matic Network is rolling out GUMPad to lower transaction costs and speed up settlements, as well as allow more projects to communicate with each other. Using assets that go much beyond the existing ERC20 standard, users will be able to access a safe and compliant environment where they may create and manage digital assets. GUMPad offers inexpensive and fast money raising and trading for decentralised initiatives.
The Gourmet Galaxy NFT Universe
The NFT Universe is a Decentralized Finance (DeFi) Ecosystem within a gamified user interface. In the NFT Universe, there are only a limited number of planets available, each with their own unique value. In the game, you may make money by hunting for various types of materials, earning prizes, and even winning tokens. Some games will function like trading options or leverage, while others will use NFTs for basic game play.
The Gourmet Galaxy Marketplace
The open marketplace on Galaxy allows anyone to freely exchange tokens amongst each other on the network. The Foundation has been established to help ensure a FOOD token supply for PLANET and GUM. In addition, Galaxy Marketplace users may utilise the system to trade game assets (FOOD, PLANET) for GUM, as well.
How to Play Gourmet Galaxy
To lead a fleet of starships, you must be a commander. Spacecraft equipment modules, such as modules that enhance or improve the number of guns, shields, or virtually any other attribute of a ship, are available for use on every starship in Gourmet. Participate in various PvP encounters where your abilities are put to the test while at risk of losing important assets.
After installing the MetaMask plugin, just pick a nickname and input your email address. You can then access the game by clicking the SIGN button.
Open the FOODMARKET window, choose the SALE tab, select a planet, and click BUY. The MetaMask window will then appear, and you’ll need to click “SUBMIT” to buy a planet with ether. Soon you’ll be the owner of the planet.
The materials you need to construct your first spacecraft begin to collect as soon as you’ve invented your first spaceship. Your resources increase according to the number of planets you have. Decide what kind of spacecraft you want to build and specify where you will launch it from. Afterwards, the spacecraft will be constructed and go out on a quest in search of new planets.
You should try to sell some of the planets you discover after you enhance their worth by staking GUM tokens. Some planets are very valuable due to their limited supply of only 1,000.
Gourmet Galaxy is a professional, well-presented website that combines gamification. The comic elements are there, but this is all about business. The design of the website fits the project well, blending aesthetic style and project features. The platform is ideally positioned to benefit from the recent growth in blockchain gaming and is well worth putting on your list of potential projects to invest in.
Further Gourmet Galaxy Information
- Gourmet Galaxy
- Price $0.022
- Market Cap