Understanding the GATA Protocol

By Mchapeyama | CryptoSocial News | 1 Apr 2022


GATA Protocol is a decentralized autonomous organization (DAO) whose motive is to solve many existing problems which people face such as sickness and lack of knowledge, utilizing the blockchain technology. It solves these problems through the development of decentralized applications and projects which enhance the exchange of value among people.

GATA PROTOCOL

Helping people to attain the best possible welfare is the driving force behind GATA Protocol. This is in line with its name GATA, an acronym for “Good Acts To All.” It achieves this by creating and sustaining a social economy and community of like-minded people whose motive is to promote the wellness of all people, young and old, males and females.

Global reach with a touch of humanity

GATA Protocol aims to create a completely decentralized society where people work at the same level, irrespective of their social, political, educational, geographical and religious backgrounds. We treat one another equally with dignity and respect. By doing this, we help one another, thereby having a shared intent which moves us collectively to a better future. For us to understand the vision of GATA Protocol, let’s focus on a few examples of the decentralized applications and projects which will uplift the lives of people globally.

Our products and projects

Our focus is to develop decentralized applications (dApps) and projects which help in solving existing human problems. The range of our products may increase incrementally as we identify existing and emerging problems that threaten human existence. Some of its products are IT related services and are instrumental for community building and decentralization. Specific examples of our products are GATA Care, GATA College, GATA Commerce, GATA Real estate and GATA grants.

GATA care: This involves a decentralized application which promotes patient-to- medical practitioners seamless interaction and exchange of value. Basically, this product entails secure and reliable communication between healthcare service providers and their patients. For instance, the application enables the patient and the practitioner to share information in the form of doctors’ reports, regular checkups and prescriptions. This information is shared transparently, securely and privately through the blockchain.

GATA College: This is a decentralized learning institution where people, young and old have the choice to learn various concepts which are related to the blockchain system and the internet of things. These courses equip the learners with the right skills and expertise to participate in the blockchain economy and society. Interestingly, after successful completion of the courses, the participants get non-fungible certificates.

GATA Commerce: This is a blockchain based platform for people to interact and share their products and services in a trustless manner. Users will love this because it eliminates intermediaries, streamlines blockchain transactions and reduces the complexities of trading goods and services.

GATA Real Estate: This is a platform for tokenizing physical things or real world assets. Therefore, people can trade the tokens, thus investing in real world assets without owning them. For example, people can tokenize houses or business premises.

GATA Token

Our native token is $GATA which drives our ecosystem and opens up various investment opportunities. For example, the token holders can stake it and earn interest. They can also participate in governance of the protocol through making development proposals as well as voting. In addition, like many other cryptocurrencies, the $GATA is a store of value and a medium of exchange. In the GATA Protocol economy, people make payments using the $GATA token.

The maximum total supply of $GATA, a hyper deflationary token which exists on the AURORA blockchain, is 5,000,000,000. This token will crossover to other EVM chains, creating convenience for our members and the universal blockchain economy. The immediate task before us is the $GATA airdrop programme. We are all free to participate.

GATA protocol Airdrop

GATA Protocol will soon carry out an airdrop of its token to wallet holders. This airdrop is a free distribution of our token, $GATA, to users who meet the simple requirements including having the suitable wallets, which are Metamask and Token Pocket. Therefore, individuals should set up their Aurora Blockchain wallets.

Here is a simple guide on how to connect Aurora wallet to Metamask:

To do so, go to Metamask settings and click on Networks.

Then click on Add Networks and input the following information:

Network Name: Aurora

New RPC URL: https://mainnet.aurora.dev

ChainID: 1313161554

Symbol: ETH

Explorer: https://explorer.mainnet.aurora.dev/

 

 The $GATA Token

Many people are already aware of the GATA Protocol, existing on the Aurora blockchain. Now, the GATA token is the crypto asset which powers this ecosystem.  We can simply define the GATA token as the native utility token of GATA Protocol.

As a utility token, $GATA powers several projects and applications which offer valuable services to the global society. By now, you are aware that GATA Protocol aims to solve existing and emerging human problems in order to improve the welfare of the people. Using the $GATA token, GATA Protocol will launch projects and applications to help human beings to progress.  

$GATATokenomics

This first and most important thing to know is that $GATA token exists on the Aurora blockchain. Here are the specific details:

Token name: GATA token

Token symbol: GATA

Standard: ERC20

Maximum supply: 5, 000, 000, 000

Token Burn: 40%

NB: There will be a 5 year token burn schedule to reduce the circulating supply and increase its value.

Uses of the GATA token

The GATA token has many uses in the ecosystem and the global economy. First, it is the protocol’s utility token, meaning that it will act as the internal means of payment for GATA Protocol services and products.

It is also a store of value, meaning that people will be able to hold it to maintain their net worth. This is why people can use it for various investment purposes.

As already mentioned, $GATA token is an investment asset in the crypto world. This means that people will invest in it.

Lastly, the $GATA is a governance token for the GATA Protocol. As such, holders of the GATA token will participate in decision making. They can create developmental proposals and vote on suggested agendas.

What are the advantages of using the $GATA token?

The major advantages of GATA arise from its existence on the Aurora blockchain. When making transactions using $GATA, they are super fast. Also, the transaction cost is very low.

Investment opportunities

As already alluded above, there are many investment opportunities where you can use the $GATA token. Here we will make a summary of these.

Hodling: This is an investment strategy where people buy and hold a cryptocurrency whether or not the price is increasing or decreasing. Their goal is to benefit from the appreciation of the asset over a long period of time such as one year. In this respect, people will be able to hodl their $GATA tokens.

Staking: Staking is similar to hodling although they are different. Staking is the investment strategy of holding a certain token in order to get a reward. Many long term holders of cryptocurrencies stake them so they get something in return. Mostly, staking platforms have established rates of return, say 5% per year. Hodling is different from staking in that the hodlers do not aim to get a return on investment but will benefit from the appreciation of the token. Therefore, $GATA holders have the opportunity to stake them and get a reward in return.

Yield Farming: In simple terms, yield farming is a process of lending some tokens in order to get a return from that. Basically, the invested tokens  are locked in smart contracts for a period of time and the liquidity provider gets a share of the trading fees of the involved pair. Therefore, it is our wish that soon investors will be able to provide liquidity for pairs involving the $GATA token.

Trading: Definitely, people will be able to trade $GATA against other cryptocurrencies and stand a chance to profit from that.

GATA Airdrop

Currently, everyone has the chance to benefit from our airdrop. The airdrop is already in progress and people can earn the precious $GATA token just for completing simple tasks which include joining our social media platforms and sharing a given post. So simple! You are required to join GATA Protocol Medium, Twitter, Telegram and Discord communities.

Please, get the full details here: https://t.me/gataprotocolbot?start=r08801802340

The nature of the GATA Token

The GATA Protocol has its token, the $GATA which powers the entire ecosystem. GATA token is unique in that it drives a special project which will solve key problems  human beings face. For instance, it will be important in the healthcare sector, powering the dissemination of vital information.

As we may anticipate, a cryptocurrency which functions in such a way should be valuable and secure as well. Therefore, there is strong technical infrastructure that supports the GATA token. Now, we want to evaluate it in terms of the standards used to assess cryptocurrencies. In practical terms, a strong cryptocurrency should meet certain criteria.

Security: We agree that one of the key characteristics of a cryptocurrency is high security. First, currently GATA is on MetaMask, which is a very secure web wallet by all standards. Over the years in which we have used Metamask, we can ascertain that there have been very few security breaches, if any. Therefore, the fact that GATA is on Metamask is a sure sign of how the team values the security of the token and the protocol in general.

Like other coins, GATA has no intervention from central authorities such as the government which can manipulate its value. Thus the token is free from any forms of corruption and shod dealings.

Scalability: One of the essential attributes of a scalable network or project is the speed of its transaction. In this regard, the GATA Protocol is super fast resulting in many transactions per second. The protocol is ready to scale up the number of transactions as many people use it.

Solving problems: According to analysts, one of the greatest attributes of a token is its ability to solve human problems. And this is what exactly the GATA token stands for. It is useful in driving projects and applications developed to solve real life problems which people are facing.   For example, GATA College is there to equip people with modern day skills such as the use of the blockchain.

Usability: It is true that a good cryptocurrency should be easy to use. If it is not easy to use, only a few people will use it. Similarly, the GATA Protocol will be a user-friendly system, which the educated and the less-educated people are able to use.

Demand: We anticipate that the demand for the GATA token will influence its price in line with the behaviours of all other cryptocurrencies. Being a utility token that supports various projects, we expect that its price will increase significantly over a period.

Limited supply: Like other tokens, GATA has a limited supply of 5,000,000,000. This is different from central banks which print more money. More importantly, the GATA Protocol will burn 40% of the token over the next five years, something which will boost its value.

Stable transaction fee: Good tokens will not require users to pay higher fees in order to jump the transaction queue. In a similar manner, GATA has a stable fee despite the increase in the trading volume.

 

More information: You can get more information about the GATA protocol and token in the following articles:

https://gataprotocol.medium.com/gata-protocol-a-decentralized-autonomous-social-economy-8d4b22e43567

https://gataprotocol.medium.com/the-gata-protocol-ecosystem-f2e34f653ff4

 

Conclusion

Summing it up, the GATA token conforms to most of the best requirements of a good cryptocurrency. By nature of its existence on the Aurora blockchain, GATA has a stable and low fee as well as high throughput.  Currently, people are participating in the GATA token airdrop. To participate one has to visit the airdrop bot, https://t.me/gataprotocolbot?start=r08801802340.

 

                                    References

https://dataoverhaulers.com/good-cryptocurrency-characteristics/

 

https://www.investopedia.com/terms/c/crypto-token.asp

https://www.gemini.com/cryptopedia/cryptocurrencies-vs-tokens-difference

Communities

Gata Protocol has the following communities:

Twitter    https://www.twitter.com/gataprotocol

 

Instagram   https://www.instagram.com/gataprotocol

 

Clubhouse   https://www.clubhouse.com/club/gata-protocol

 

Reddit   https://www.reddit.com/r/GATA_PROTOCOL

 

Telegram https://www.t.me/gataprotocol

 

 

 

 

 

 

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Mchapeyama
Mchapeyama

I am a blogger and writer


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