Decentralised autonomous organisation (DAO) protocols are increasingly becoming popular in the DeFi space. The successes of Uniswap, BitDAO, and Polkadot, among others, have encouraged subsequent startups to embrace DAO governance to scale their services.
This ultimate guide talks about GryffinDAO, a DAO-led DeFi disruptor with head-turning features and integrations. We will also learn how this protocol plans to regulate the price of its native token to keep users in profit.
Introducing GryffinDAO and GryffinDAO Token
GryffinDAO is a protocol running on the Binance Smart Chain (BSC) network that aims to disrupt the traditional financial market using its native token, $GDAO.
In its words, “Creating lasting utility is our main objective, ensuring that together with our community we can bring our $GDAO tokens to the common market of daily transactions for goods and services.”
The GryffinDAO Token, $GDAO, is a Bep-20 token compatible with the Ethereum Virtual Machine, just like many other Binance Smart Chain (BSC) tokens. The token will be used for transactional and incentivised purposes on GryffinDAO.
$GDAO will feature a host of transaction systems within the GryffinDAO ecosystem and DEX. For instance, $GDAO will be used for future and present financial systems like rebate token systems, yield farms, liquidity pools, DEX trading, and bonding, among other features.
Basic features of GryffinDAO
Aside from $GDAO, here are other features of GryffinDAO that may catch your interest.
1/ Decentralised Exchange (DEX)
GryffinDAO’s DEX will be a huge part of its ecosystem. It will handle the inflow and outflow of liquidity, plus the token price regulatory system.
GryffinDAO’s DEX will include vital sections like liquidity bootstrapping, farm pools, instant DEX portal, staking protocol, DAO governance, bonding, and so forth.
2/ P2E Gaming
DeFi gaming is another area GryffinDAO has a keen interest in. And as a protocol to maximise the profit of its users, its game will be a play-to-earn (p2e). Play-to-earn games provide resources that allow players to earn rewards in the game.
GryffinDAO’s DeFi gaming system will include NFTs as in-game assets tradable in its NFT marketplace. This implies that users can trade NFTs usable in the game while earning token rewards.
3/ NFT and NFT Marketplace
[NFTs] As a feature of GryfffinDAO’s DeFi gaming system will need a marketplace to thrive. For this reason, GryffinDAO includes a marketplace that will be multi-chain interoperable.
GryffinDAO’s NFT marketplace will support mainly limited edition NFTs from its DeFi game through smart contracts. Players may also use rewards earned while playing the game to buy NFTs to modify their characters or territories.
4/ Top-Notch Security
GryffinDAO is not looking down on security. It will apply different security approaches, including audits, cyber sec integrations, and multi-sig authentication, to secure users and its protocol from third-party access.
How to Easily Buy $GDAO
According to information on GryffinDAO’s roadmap, it will likely perform an ICO and list in a centralised exchange instead of IDO or DEX. So the following steps may apply in buying $GDAO.
- Open Binance—Web application or mobile app. Sign up if you haven’t. It doesn’t take to do so. You can also start trading after doing basic KYC.
- Check the $GDAO market for available alternative token options before funding your Binance Wallet.
- For a start, $BSC/BNB will be made available. Fund your Binance Wallet with $BSC (BNB), and head to the market to exchange it (them) for as many $GDAO tokens you wish to buy.
- You may transfer the tokens to your Trust Wallet or to the GryffinDAO portal based on what you intend to do with the token.
Another way you may buy the $GDAO token is directly on GryffinDAO DEX.
- Visit GryffinDAO and connect an adequately funded crypto wallet. The wallet must be funded with BSC tokens supported on GryffinDAO. Better still fund your wallet with $BSC (BNB).
- Navigate to the DEX portal on the platform and search $GDAO pairs to swap them instantly.
- You can transfer the token to your standalone wallet connected to the platform.