$DUST Utility Token Model & Distribution

Reference for Galaxis / Ether Cards $DUST Utility Token

$DUST Utility Token Model & Distribution

In this reference post:

  • What is $DUST?
  • How is $DUST utilized?
  • Overall $DUST distribution details.
  • Initial $DUST drops on Ether Cards Founder NFTs.
  • $DUST generation explained.
  • Ether Cards Founder NFT $DUST counter.
  • References and Token Contracts.

What is $DUST?

$DUST is the utility token for the Galaxis ecosystem and platform. It is an ERC 777 token on the Ethereum blockchain. The ERC 777 token standard is very similar to an ERC 20 token - with extra functionality.

How is $DUST utilized?

$DUST tokens are used throughout the Galaxis ecosystem to reserve and pay for upcoming mints, return value to NFT holders, and exchange for NFTs via the Galaxis Vaults.

In the future, $DUST may be used in the Galaxis marketplaces to purchase NFTs and $DUST Proof other non-fungible tokens. Creators may also purchase upgrades and/or features for their community platform. Additional utilities are under development.

Overall $DUST distribution details.

Initially, 5 billion $DUST utility tokens were issued on Ethereum Mainnet. However, from February 2022, issuance and claiming moved to the (Layer 2) MATIC/Polygon network to reduce fees. The $DUST distribution is as follows:

Currently, the maximum total supply is 4,985,687,000 $DUST tokens. 14,313,000 $DUST tokens have been burned from initial $DUST drops during the NFT vault claiming process.

Initial $DUST drops on Ether Cards Founder NFTs.

In September and October 2021, two batches of $DUST were dropped onto Ether Cards Founder NFTs on Ethereum Mainnet: 121,100 $DUST per OG, 12,110 per Alpha, and 1,211 per Founder tier NFT. The grand total was split evenly between all card tiers - with OG receiving 10,899,000, Alpha 10,899,000 and Founder 10,899,000.

The first two drops coincided with the release of Galaxis Vaults, which are essentially Ethereum wallets that contain individual types of stored NFTs. $DUST token holders may choose to exchange tokens for various NFTs locked into the vault.

$DUST generation explained.

Aside from the initial two $DUST drops in 2021, from February 2022 all Ether Cards Founder NFTs began to generate this token at rates according to tier (OG>Alpha>Founder) over approximately 10 years. $DUST is dropped onto the Ether Cards Founder NFTs and must be claimed to a wallet to be utilized.

The chart above shows total $DUST generation per NFT card tier over time.

Ether Cards Founder NFT $DUST counter.

The number of $DUST utility tokens collected onto each Ether Card Founder NFT is visible on the “$DUST Counter” seen on the User Interface of OpenSea and the ether.cards website wallet explorer. This will allow anyone to see how much $DUST is on a card at any given time.

References and Token Contracts:

https://polygonscan.com/address/0xe41b7c9b08ecc127670ea0dd2ed122277880612c#contracts

Polygon network $DUST Utility Token Contract Address: 0x167ef3603c0b1d52BE9a96E3Af01aa33097a6CE9

https://etherscan.io/address/0xe2e109f1b4eaa8915655fe8fdefc112a34acc5f0#code

ETH mainnet $DUST Utility Token Contract Address: 0xe2E109f1b4eaA8915655fE8fDEfC112a34ACc5F0

CoinGecko Link: https://www.coingecko.com/en/coins/dust


Disclaimer‌‌

For legal purposes, we have to include this disclaimer. This of course doesn’t mean that we won’t do our absolute best to make every feature possible, but since this is new technology and new legal territory, we need to make sure that the terms and conditions are in order.‌‌

Galaxis / Ether Cards makes no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information in any posts. Any assumptions, opinions, and details expressed in any Galaxis / Ether Cards blog or community posts constitute Galaxis / Ether Card’s judgement as of the date hereof and are subject to change without notice. Any projections or claims contained in the information are based on a number of assumptions including, but not limited to market conditions and the current status of Galaxis / Ether Cards, and there can be no guarantee that any projected outcomes will be achieved.‌‌

Galaxis / Ether Cards does not accept any liability for any direct, consequential, or other loss arising from reliance on the contents of the information in this post.