Geminis Network

The Geminis Network is the first Polkadot parachain supported by the advanced technical stack of ParaState, a multi-chain smart contract platform bridging the application and developer ecosystem between Substrate-based blockchains like Polkadot, and Ethereum.

Parachains are Layer-1 blockchains that run in parallel on Polkadot, connected to the Polkadot Relay Chain to share in the security, scalability, interoperability and governance of Polkadot. Geminis takes Ethereum compatible Dapps support to the next level on Substrate chains through WasmEdge. Developers can develop and execute high-speed smart contracts with built-in Ethereum compatibility (EVM & EWASM) and interoperability in Solidity, Vyper, and next-level programming languages like Rust, C++, and Golang.

Geminis Network is the first parachain in fair launch without private sale. Check out the token economics.

The Geminis Network plans to become a parachain on Polkadot, supported by ParaState technical stacks. To carry out this function, Geminis will award the Polkadot parachain crownloan supporters with its native token, and also collect a portion of gas fees as a license fee payable to the ParaState DAO treasury. ParaState is a decentralized autonomous organization (DAO) funded by license fees (as a percentage of gas fees) generated by transactions on other networks using ParaState technology.

The Geminis Network parachain will launch its native token GEM, with a total supply of 210 million tokens.

Token Symbol: GEM

Maximum Supply: 210,000,000

Inflation Rate: 2%

Small unit, Wei (10^18 Wei = 1 GEM)

• The GEM token will be used for the following purposes:
• Reward to Polkadot parachain auction crowd loan supporters
• Payment of technology license fees to the ParaState DAO treasury
• Reward to collator node operators
• Reward to Dapp deployment hosting (for top by TVL and transaction fees)
• Boostrapping Geminis network ecosystem

GEM has been designed with an annual inflation rate of 2 percent, with 50 percent of transaction fees burned to control the token supply. Following is the allocation for the network gas fees:

• Basic gas fee 0.00001 GEM
• 50% burned
• 45% to ParaState DAO treasury
• 5% to Long-term Development Reserve

The ParaState DAO is governanced by all STATE token holders.