Hey there! Recently, our founder, Maxim, hosted a Pre-TGE AMA session, covering key details about the token utility, tokenomics, and launch plans. In this blog post, we’ve prepared a full transcription of the livestream.

If you’d like to watch the original session, here’s the recorded version:

Intro, founder and product background

“Hi, my name is Max, and I’m the founder of GoodCrypto and goodcryptoX, or rather, goodcryptoX, which originally started as GoodCrypto..

I began my career as a management consultant, then spent about 10 years in real estate investment and development. My last role before diving into crypto was as CEO of the largest Ukrainian real estate development company. But in 2017, I became so fascinated with crypto that I left the corporate world for startups, swapping Ukrainian real estate for the global crypto space.

That’s how GoodCrypto began. We initially launched as a multi-exchange trading platform for centralized exchanges. As the space evolved, we shifted more and more attention to decentralized exchanges. From the launch of Uniswap v2 around 2020, we were convinced that’s where the future was heading. Since then, our focus has been on bringing the advanced trading tools we built for centralized exchanges over to DEXs.

About a year ago, we saw a technical opportunity with the rise of smart contract wallets on EVM chains. We implemented them in the way we envisioned, fully non-custodial. On EVMs, that’s already the case, and we’re hopeful Solana will also support a non-custodial setup in the coming months. There are a couple of promising projects that should make it possible.

That brings us to where we are now. Our GOOD token, which launches in just a couple of weeks, is the logical continuation of this journey. It’s something we’ve been planning for quite a while, and it has grown alongside our product. We’re excited to finally bring it to life. We believe it will not only boost exposure for the platform but also let us share back the value we’re creating, and there’s a reason we’re called GoodCrypto.

The GOOD token is one of the ways we want to give back to the community. Every day we work on building the best product we can and delivering it to you, but this token is the next step in that mission.

Now, let’s move on to your questions. I’ll start with the submitted ones, grouped into topics, and give an overview of each. Then I’ll cover any specific ones that didn’t fit into those topics.

First, let’s go over a few of the questions we received, starting with an overview of the GOOD token, its utility, and its role in the ecosystem.”

GOOD token utility overview

“There are four main things that make the GOOD token… well, good.

First and foremost is our Revenue Sharing program. This allows us to share 50% of all decentralized exchange revenue we receive with token holders. I’ll dive deeper into this later, but for now, just know that we see it as the core utility and main driver of the token’s future value.

The second feature is token burns. The GOOD token has a fixed supply of one billion, but we’re committed to reducing that supply over time to make it deflationary. Tokens will be burned regularly, in fact, daily for DEX revenue. We’ll allocate 10% of all revenue we receive, not only from DEXs but also from subscriptions to advanced features on centralized exchanges and other revenue streams.

For example, we have fee-sharing agreements with some centralized exchanges, where we receive part of the trading fees you pay when using goodcryptoX. A portion of this revenue will also be used to buy back and burn tokens.

DEX revenue burns will happen daily, while CEX-related burns will occur monthly. Over time, this will steadily reduce the total token supply. And naturally, as the platform grows and scales, the size of these buybacks will increase as well.

The third feature is our Trading Rewards program. We initially called it “trade mining,” but “trading rewards” describes it better.

It’s a way to incentivize our community to trade more via our app, both on centralized and decentralized exchanges. The way it works is simple: for every set amount of volume traded on CEXs or DEXs, you’ll automatically receive GOOD tokens in your goodcryptoX wallet.

The more you trade, the more tokens you earn. This creates a self-reinforcing flywheel: the more people trade, the higher our revenue becomes, which in turn increases the value of the token, because it means more revenue share per token. Ideally, that should also drive the token price higher over time.

And then, in turn, that makes trading rewards more valuable. You get more out of those rewards, That, in turn, creates an additional incentive to trade even more. And that’s a spiral that goes up and up and up.

Basically: trade more → the token becomes more valuable → incentives to trade grow → people trade even more.

So that’s the third piece. And the fourth, last but not least, is that holding our tokens also gives you additional discounts on trading fees for decentralized exchanges in our app.

In addition to other ways, like buying a subscription, reaching higher trading volume tiers, joining our loyalty programs, or buying the Ultimate NFT, simply holding and accumulating tokens also gives you a discount on swap fees. The more you hold, the higher the discount. And it stacks with existing discounts.

So that’s another strong reason for people to buy, accumulate, and hold tokens. Any active trader will quickly realize it makes a lot of sense to keep them in their wallet. That’s the overview of how we see the token’s utility.”

$GOOD Revenue Sharing program

“Let’s dive deeper into the revshare program. I’ll start with an overview that should answer most of the submitted questions, and then I’ll go through a couple of specifics one by one. So, let’s look at revshare. So, the idea is simple: we charge a swap fee for all trading volume executed via goodcryptoX on decentralized exchanges.

Our base rate is 1%. Given discounts, the effective rate currently averages around 0.61%. In practice, it usually fluctuates between 0.5% and 0.75%, depending on the day and the mix of traders. From that, we collect the DEX trading fees and share half of them, every single day, with people who hold GOOD tokens in their wallets.

Eligibility is also simple: you need to hold at least 10,000 GOOD tokens in your goodcryptoX wallet. Answering one of the common questions – no, self-custody wallets work in that regard. Specifically, you have to hold them in your goodcryptoX wallet.

So, how will it work technically? After each 24-hour window, we’ll take all the DEX swap fees and convert them into a single currency. Again, answering one of the questions – yes, at least initially, we’ll be converting them into USDC on Solana. Our token will live on Solana, and that’s where revenue sharing will happen.

We will convert 50% of those USDC to GOOD token holders, and the other 50% will go to our treasury. The calculation works like this: we identify all wallets that hold 10,000 $GOOD or more, or that have held at least 10,000 $GOOD during the last 24 hours. That’s the window that we will be rewarding. And then, we can calculate the total amount of tokens in those wallets, share the DEX fee that we want to share by the number of tokens that are eligible, and basically, transfer automatically those USDC to your wallets. 

By default, auto-compound will be enabled. That means if you don’t turn it off, instead of sending you USDC, we’ll automatically use your revenue share to buy GOOD tokens and send those to your wallet. If you turn auto-compound off, you’ll be getting USDC.

Revenue share will be delivered automatically every 24 hours to your goodcryptoX Solana wallet. At least, that’s what we’ll start with. Maybe this design will turn out to be suboptimal, we’ll adjust it, but only in ways that make the system work better for everyone.

We believe this design is optimal for the start. So, that’s the revshare program. Now, to answer questions that I didn’t answer. 

Auto-compounding and the assets that will be shared, I answered that. No self-custody of wallets. And, yeah, there was a question about staking. 

Maybe in the future we’ll introduce some staking ideas, but for now, and for the foreseeable future, no staking is required. No staking is on the horizon.

You don’t need to stake or lock your GOOD tokens to receive revenue share. The only requirement is holding at least 10,000 tokens for more than 24 hours during the reward period. That’s it.

Maybe, in the future, there will be some staking program, or we will increase the revshare. We’ll see. 

Okay, I think that fully covers the revshare part. Then, there was a separate question on how our centralized trading side provides value for the token.”

How CEX app functionality benefits $GOOD

“I guess I already touched on this when explaining the burn mechanism. We’ll be spending 10% of the revenue we receive from centralized trading, mainly subscription payments and the revenue share we get from centralized exchanges. That 10% will go directly to token burns.

We’re committed to giving back. As we scale and need fewer funds for growth, we may increase that percentage.

I get that 10% might not sound huge, but we guarantee that minimum. At least 10% of our entire revenue will always go to burns. And if we will have an opportunity to raise that percentage, we’ll happily do it.

Because we’re also holders of the token, and we all benefit from token value creation. 

Alright, now let’s move on to tokenomics, or the “economy” of the token. There are a few questions we need to cover here.”

$GOOD tokenomics

“First, if you haven’t seen it yet, our full tokenomics is readily available. You can find a summary on our dedicated token page on the main website. There’s also a direct link in the header from the main page.

Additionally, in our docs, there’s a section covering tokenomics with all the charts and numbers. Both on that page and in the docs, you’ll find a link to a Google Sheet with the detailed tokenomics, basically everything you want to know.

That’s the same file that we’re using internally. You’ll see the distribution pie chart. You’ll see the release schedule by category and by every month. 

You’ll see exactly how many tokens go where, when, how the total supply is split, and the vesting schedules, cliffs, and conditions for each category. If you haven’t checked it out yet, I highly recommend doing so. To recap a few key points and answer some of the specific questions that came in, let me highlight a couple of things.

Vesting will be done on-chain and will be fully verifiable. We’ll be using Streamflow Finance, which is a leading provider of vesting solutions on Solana. All the vesting contracts will be available there.

I believe they even have a dedicated page for each project. All our vesting contracts will be visible in one place, so you can check whether the conditions match our tokenomics file. You’ll also be able to see all the distributions there.

The second thing to highlight in our tokenomics is that we’ll be launching with a very small market cap. This is a conscious choice and relates to our approach to FDV, or fully diluted value. The FDV at launch will be $25M, quite modest given our history, user base, real product, and underlying economics.

The initial market cap will be around $531K. And again, the tokenomics file shows this in detail, including the starting token price and the initial unlocked supply. That’s the market cap.

So if you missed the pre-sales, you’re still not late to the party. However, we’ll start at a slightly higher price than in the pre-sales to recognize the risk early participants took in believing in us. Other than that, it’s still quite early. 

If you believe in us, the project, and the product, you’ll still have plenty of opportunity to get in on the ground floor.

Next, let’s talk about our team and investor unlocks: the structure, schedules, caps, and safeguards. It’s all detailed in the tokenomics, but I want to emphasize one point: there are zero unlocks for insiders in the first six months.

Neither the team nor our advisors will receive any tokens in the first six months. Our investors, both institutional and users who participated in pre-sales, will have their unlocks. There’s a small unlock at the TGE, followed by a cliff: three months for the initial pre-sale, and one month for the latest pre-sale.

Again, you can see all of this in the tokenomics. Other than that, the team won’t be receiving anything in the first six months. This underscores that we are long-term aligned.

We don’t need to persuade anyone that we’re here to stay. We’ve been around since 2019. If our goal was just to create a token and disappear, we could have done that many times over. Our main focus is to build a product that people like, love, and use every day.

The token is just a part of that. Overall, the tokenomics and vesting schedule further reinforce our aligned interests. That covers everything I wanted to discuss about tokenomics and vesting.

$GOOD Airdrop One

Let’s move on to the next topic: the Airdrop, or Retrodrop, and the trading rewards program. As we announced on day one, when we launched DEX trading, we want to make sure we reward early adopters of our DEX trading product.

We’ll take a snapshot at the TGE of the entire DEX trading volume, starting from day one when we launched DEX trading and our closed beta program, which was around late March to early April 2024.

Up until the TGE, the entire DEX trading volume will count. Going forward, trading rewards for that volume will be one GOOD token for every $100 traded on DEXs. 

For this airdrop, we’re increasing that 5x, so you’ll receive 5 GOOD tokens for every $100 of DEX trading volume from day one until the TGE. As for why it’s called Airdrop One, I don’t want to pre-announce anything yet, but obviously, you can guess that after one, maybe comes two… or three.

We obviously want to keep rewarding the community. You still have some time to build up decent DEX trading volume before the TGE to qualify for Airdrop One. But that doesn’t mean you have to stop trading on the day after the token launches.

No, we’ll make sure to find ways to reward the community. That’s why 20% of our tokens are allocated to ecosystem development. With that in mind, just keep trading! That goes for both centralized and decentralized exchanges.”

Token launch and listing

Okay, let’s move on to the next topic: what I’d call launch and listing. There were quite a few technical questions about this, so let’s go through them. One of the latest questions we received was about the technical details of the launch.

Will the contract address (CA) be announced before or after launch? We plan to announce it before the launch. We don’t want to create confusion or encourage scammers.

I’m not sure exactly how many days before, but it will be announced well ahead of the TGE, not just one or two days. There will be time to note it, and the contract address will be clearly visible.

You’ll be able to easily find it across all our public channels. First, on the dedicated GOOD token page, and then in our Telegram channel, where there will be a pinned post with the address.

Our X account will have it, and our documentation will have it too. Just to make sure, in the unlikely event one of those channels is compromised, you can simply double- or triple-check by referencing two or three of the sources I mentioned.

Again, the main sources are: our dedicated token page on the landing page, the token section in the documentation, our X account, our Telegram group, and our Telegram announcement channel.

If you check three out of those six sources, you’ll be able to verify the contract. The token is launching on Solana, so it will be a standard SPL token, and the contract address will be on Solana.

We expect the contract address to be easily recognizable. Which venue will we create the first pool in? It’s going to be either Meteora or Raydium. 

I’m not sure which one we’ll choose for the first pool yet; we’ll decide later. Once we launch, the token will be instantly available on Jupiter, the aggregator.

Since we use Jupiter to route orders inside the app, it will also be immediately tradable through the app. You’ll be able to buy it via the exchange interface, Jupiter’s interface, or our app interface. I strongly recommend using our app, as that’s how you’ll earn trading rewards. 

If you’ve been following our announcements, in the trading rewards program you’ll get double rewards when trading or buying GOOD tokens. Normally, $100 of spot trading on DEXs earns you one GOOD token. If you trade the GOOD token itself, you’ll receive two GOOD tokens for every $100 traded.

How much is being added to LP? I don’t want to commit to an exact number several weeks in advance, but the liquidity will be adequate. We don’t want to create an oversized pool at the start just to favor institutional investors. At the same time, we’ll ensure the token is liquid, so you’ll be able to buy, sell, and trade without significant slippage or price impact.

Which pairs will be available first, and on which DEXs and blockchains? The blockchain is Solana. The DEX will be either Raydium or Meteora, but it doesn’t matter much since you’ll be using either the Jupiter interface or the goodcryptoX interface with Jupiter aggregation. The first pair will most likely be $GOOD/USDC or $GOOD/SOL.

Most likely it’s going to be $GOOD/USDC, but maybe both. Again, it doesn’t matter much because Jupiter’s router makes trading seamless. No matter which token you hold, you’ll be able to trade it for $GOOD.

Okay, let’s talk about CEX listings. Our vision for CEX listings has evolved over time.

CEX listings

“As you probably know, we have strong relationships with many CEXs. We support around 30 of them and have broker agreements with 17 or 18. Overall, we maintain very good relations with these exchanges.

Starting only with DEXs and not listing on CEXs might seem weird. But frankly, we strongly believe that DEXs are where the puck is going, and we want to put our money where our mouth is.

We value our relationships and partnerships with centralized exchanges, we’ve traded over five or six billion USD of volume on them via the app. But frankly, they’ve evolved into something that goes against the spirit of crypto, if I may be so bold to say it.

Crypto has always been about trying to fix the system and avoid gatekeepers and rent-seekers in traditional finance. But today, centralized exchanges have become those gatekeepers and rent-seekers in crypto. Listing our token on a centralized exchange would mean spending a lot of money that ultimately comes from token sales, money that would essentially go into the pockets of the exchange.

A couple of years ago, listing on a CEX made sense, as it was the main way to ensure your token was liquid and tradable. But now, DEXs have evolved to the point where trading our token on a Solana DEX is no more difficult than on Binance, Bybit, or similar exchanges. Even for futures and leverage, there are plenty of opportunities on the decentralized side. So, we don’t have any definite plans for listing on centralized exchanges. 

I want to be upfront and frank with you. That doesn’t mean we won’t list on centralized exchanges, but it does mean we won’t be paying hefty fees or giving away 5% of our supply just to secure a listing.

We don’t want that 5% to be dumped on you, that’s the main reason we’re avoiding it. If a centralized exchange decides our token is interesting enough to list, there’s nothing we can do to stop them. It’s crypto: our token is open source, and anyone can create a connector and list it on any exchange they want.

If that happens, we obviously won’t be against it, and even if we were, there’s nothing we could do. But we won’t be actively pursuing CEX listings at the very beginning.

Again, this is mostly because we don’t want the 5% or 10% of tokens that exchanges often require to be dumped on you. Unfortunately, centralized exchanges have become a form of exit liquidity for teams and founders, and a graveyard for many tokens. We don’t want that for our token. We prefer to be slow and steady, ensuring that our ecosystem, product, and product usage grow. We want to ensure that our ecosystem, product, and product usage all grow, and that the token’s value grows along with them.

We’ve made sure that the token’s value is directly aligned with ecosystem growth. I won’t go in circles on that. So, that covers our approach to CEX listings”.

Bridging to other chains from Solana

“Regarding other chains, we do plan to expand to EVMs at some point. Similar to how we decide which blockchains to support inside the app, we focus on where the volume and activity are highest. So, at some point, we’ll likely appear on Ethereum and probably on Base as well.

We may also appear on BNB Chain. If we do, we’ll announce it through proper channels, like Wormhole, so there will be a canonical address.

We’ll be straightforward, leaving no room for confusion. The canonical address via Wormhole will be recognized by all token trackers, and our official channels will reflect it as well. For now, we’ll start with Solana, which is the best place to begin for many reasons, and we’ll see how it goes.

Next, let’s talk about the vision, product features, and the flywheel. There were quite a few questions about where we’re heading and what’s coming after the launch. We try to explain our vision as directly as possible”.

Token growth flywheel

“If you look at our token page or our documentation, you’ll see what we call the token flywheel. We view our ecosystem growth as a spiral, not a flat circle, but a 3D circle moving upward, with each loop higher than the last.

What drives that flywheel, first and foremost, are new features. As we add functionalities to the app, whether DEX futures, new bots, additional blockchains, manual trading tools, or simply an improved trading interface, the flywheel keeps accelerating.

That means more interest and trading volume, which generates more DEX revenue. More revenue means a higher revenue share per token and more token burns, which in turn increases the token price. A higher token price makes trading rewards more valuable, which encourages even more trading.

Basically, that’s the cycle. With each new bot or feature, the cycle moves up a level in the spiral. I’m not sure I’m explaining it perfectly, but that’s the idea”.

Product roadmap

“In terms of the product, we’re just getting started. Our initial roadmap focuses on taking the trading tools we’ve already built for centralized exchanges and adapting them for decentralized exchanges. We’re in the middle of this process, and most of our manual orders and manual trading capabilities are already available on DEXs.

We’ve got the DCA bot, but there’s obviously more to add from our existing functionality on the centralized exchanges side. There will also be several unique trading features that will be made possible only in a decentralized environment. 

I won’t go into every detail, but I’ll highlight the key features we expect to implement over the next six months – the ones I believe will have the biggest impact. For me, the biggest impact means more usage, more trading volume, more interest in the app, and that feeds directly into the flywheel. More DEX revenue, more revenue share per token, and so on.

The first major feature we’re working on is bringing DEX futures to the app – development has already started.

Most likely, our first integration will be with Hyperliquid. A couple of years ago, we supported dYdX version 3, and some of our older users may still remember that. Unfortunately, that was sunsetted, and we’re not supporting version 4 at the moment, I won’t go into all the reasons why. We will support it at some point.

For now, we’re focusing on DEX futures with Hyperliquid. Most likely, we’ll also integrate Jupiter Perps once they release their API. After that, we plan to add support for other popular decentralized exchanges and features.

I won’t name names because I can’t guarantee integration within the next six months, but off the top of my mind, I know ApexOmni and GMX. Basically, anything popular with an API that we can connect to will be in the app.

Two things to understand about the DEX futures we’ll be integrating: first, from day one, they will benefit from all our centralized exchange functionalities. These DEX futures platforms, in terms of user experience, somewhat resemble centralized exchanges. Second, for us as integrators, most of them provide an API, at least the ones we plan to integrate.

For example, if we integrate Hyperliquid from day one, it will support not only the DCA bot but also the Grid bot and the Infinity Trailing bot. In other words, it will operate within our centralized interface, and the Grid bot will work from day one. Secondly, we’ll apply the same fee model to DEX futures as we currently do for DEX spot trading on AMM exchanges. 

There will be a base fee, but it won’t be 1% for futures, the rate will be different. All discounts and other mechanisms will also apply. For us, this represents a new revenue stream, which we expect could exceed spot trading on DEXs by several times. On centralized exchanges, our futures volume is already several times higher than spot volume, so we anticipate a similar trend on DEXs.

Second, we’re finally bringing the Gem Sniper bot, or trading mode for the Gem Sniper bot. It’s been in testing for over a year, as other priorities took precedence, but we’re now actively working on it.

Hopefully, the Gem Sniper bot will launch either alongside DEX futures or shortly before or after, we’re already working on it. The full trading mode for Gem Sniper will come soon. This feature is specific to DEXs for now, though our next step might be to bring it to centralized exchanges as well.

We’ll definitely bring our Grid bot to DEXs, not just as a centralized Grid bot on Hyperliquid, but directly into our existing DEX trading interface. Alongside the DEX DCA, there will also be a DEX Grid bot.

For that, we’ll implement true limit orders. Currently, what we call limit orders are essentially stop-market orders, swaps that trigger at a certain price. With true limit orders, execution happens exactly at the specified price. This will be supported on Solana via Jupiter, and on EVMs through 1inch, which also has a limit order protocol. The Grid bot will utilize these \limit orders to ensure it works effectively on DEXs.

We’ll be launching a TradingView Strategy bot. Currently, we have TradingView webhooks, but they’re mostly one-off alerts. If you have a full trading strategy — for example, buy a coin for a certain amount, go long or short, then close, that’s not something we currently support on either CEXs or DEXs. This will first launch on DEXs and later expand to CEXs as well.

There will definitely be copy trading. We’ll also launch the SOS bot, which allows you to convert your entire holdings into stablecoins with a single click, and then buy back later if you want. Essentially, if the market is dumping, you just click one button to protect your portfolio, and then click again to restore your positions. Again, this will first launch on DEXs, with expansion to centralized exchanges later.

There are many more features planned, but these are the ones we can confirm will be implemented in the near future.

GOOD Protocol: our north star

Each of these features should, hopefully, increase our DEX volume significantly.

Long term, I should mention that we aim to evolve into what we call the GOOD Protocol, a fully decentralized system. Currently, ingest centralized market data, they execute all the orders according to rules that are basically coded into our servers. Instead with GOOD Protocol, it will live as a separate smart contract on the blockchain.

It’s the same idea, all trading logic will be built into the contracts. For that, we need non-custodial trading, which we already have on EVMs. On Solana, we hope to have it within the next 6 to 12 months. Market data will come from on-chain oracles. I don’t want to put any timeframe on this, but that’s our ultimate goal.

We want to become a fully decentralized system and turn into the GOOD Protocol. The GOOD token will be a central part of that protocol, and hopefully, most of the value that accrues to the protocol will accrue to the token. 

If I were to compare the value generated by our current product versus the GOOD Protocol, the protocol, as a blockchain-native system, has the potential to create significantly more value. We have our work cut out for us, but we have a clear vision and just need to execute. Hopefully, the GOOD token will be beneficial for all of us.

Why we waited so long + outro

Just to address some points our existing users and early backers have been asking for, like why we didn’t launch sooner, as I mentioned a couple of times, we were focused on two main things.

We wanted to make sure our product was in the right place. We didn’t want to launch a half-baked product and bring in new community members who would see that the product wasn’t at the expected level, that would have wasted the effort.

Now, our product is still early, and there’s a lot more to develop, but I think it’s good enough for new users to see value and stick with us. It already has some unique features that encourage people to use it. That’s one reason for the timing. So the product is in the right place

Then, the market should also be in the right place. And, obviously, a lot can change overnight in crypto, but at least the general direction, I think, is right, and we hope that we are launching at the right moment. 

Again, it’s not about the exact launch day or whether Bitcoin goes up or down 10–20% this week. We have long-term vesting contracts, all our early backers have two-year contracts, and as a team, we have three-year vesting. GOOD Protocol won’t be happening this year, maybe not even next year. So, we’re long-term oriented, and we believe the market is moving in the right direction for that horizon.

So, yeah, thanks for tuning in. I hope it was useful. We’ll probably hold another AMA on X Spaces a couple of days before the TGE. By then, the token contract will already be live, and the vesting contracts will probably be live as well.

There may be some more technical questions to address at that time. In the meantime, we’re always here for you. We might not respond immediately on Telegram or X, but we make sure every question gets answered, and every person who needs help receives it.

We’re very excited for this next chapter in our journey, and we’re super happy to have you with us on it. Thank you all, and goodbye!