Cargo Gems act as a utility and governance token on the Cargo platform and allow for a unique NFT staking model.
Cargo’s platform will ultimately be driven by two distinct fungible ERC-20 tokens:
✨Cargo Credits — the token that is required to create collectibles on Cargo. Cargo Credits can be purchased in packs, offering a range of options that cater to everyone from NFT novices to full-blown enterprises. Currently 1 Cargo Credit is equal to 1 NFT mint on the platform. This will not always be the case. This will change in the future as the price of minting will become dynamic - so the market can dictate the price of credits, but the cost of minting will remain constant. Currently Cargo credits are purchasable on the site and will remain so, but once they are on decentralized exchanges they will be sold on the site for the going market rate with an added convenience fee.
Cargo Credits Contract: https://etherscan.io/address/0x714a91578624d76a209e9aa4af9a1f55d78f9190
💎Cargo Gems — the platform utility token that functions as a governance token and future payment option on the Cargo platform. Gems can be staked inside of NFTs for token rewards.
Cargo Gems Contract: https://etherscan.io/token/0x30b1efb052205e6ca3c4888c3c50c5b339cc0602
Here is a breakdown of the initial tokenonmics for both Cargo Gems and Cargo Credits.
Total Supply: 30,000,000 GEM
Initial Distribution: 1,500,000 GEM
Total Staking Rewards: 10,800,000 GEM
Staking Rewards: 1 GEM + 1 Cargo Credit / Ethereum Block, split proportionately between staking wallets
Staking: 10,800,000 (36%)
Cargo DAO Development: 4,500,000 (15%)
Partners: 5,700,000 (19%)
Cargo Team: 7,500,000 (25%)
PGFK Holders: 1,500,000 (5%)
Total 30,000,000 GEMs
Total Supply: Uncapped