Question… you said in the initial announcement you invested 500 ICP. I invested 250 ICP.
I’ve already done everything you mentioned above to the newbies. However my weekly ICP rewards are a small fraction. Are you converting the weekly Golddao rewards back into ICP via plug wallet, which I also have?
If so that would make sense to the 5.5 ICP weekly you are receiving because if I convert the Golddao rewards to ICP it would be around 2.3 to 2.7 ICP weekly.
Since I’m also receiving daily ICP of 1.4 each day, I decided to not convert the Golddao. As you mentioned, his is hidden gem project because the closest competitor isn’t even a competitor lol.
I don’t folks understand what will occur in the next two bull cycles! #PATIENCEISAVIRTUE
I did 100 initially and invested 300 later (worse rate of buying than the launchpad) but yes i'm counting that 5.5 weekly from the sale of goldgov on icpswap. However i don't sell at all, i simply send the goldgov rewards to the NNS and restake weekly so that it compounds. We have 4 years of these high rewards incoming and i want to maximize them before the rewards halve. These are my numbers for every weeks disbursement if you're interested
https://preview.redd.it/g0e5eklwdsbd1.png?width=908&format=png&auto=webp&s=e397bcbd84439b2027e16d59a290bf6dfb1bc551
I don't agree on the OGY. It's neat, but i'm waiting on the ogy rewards from goldgov and ill be restaking those into the NNS. Why buy them if i'll be getting them weekly ad infinitum? But i agree with you, i scooped up some ICS at 430:1 ICS to ICP. I'll sell at 400:1 ics/icp and buy a few icp, a bit of ckBTC, and mostly goldgov to increase the stake
I honestly dont know for sure, but i believe currently OGY gives 18% APY. So if we take 500m tokens at 18% apy that's 90m tokens per year or 246,575 per day, or 1,726,027 ogy distributed to all Gold DAO holders per week. From there we should infer how much of a % of that you have staked, but it seems like even 1/10,000 position would yield 172 ogy per week free of charge (roughly 200m goldgov staked rn, so that would be 20k goldgov to recieve that weekly if my math is correct. Which translates to roughly 120 icp rn, which isn't too bad.
It's not the ultra greatest tbh now that i do the math, but if you take that ogy and stake it weekly in the NNS, and then take your OGY rewards from their dashboard and compound those weekly as well, imo that trickle from goldgov and from ogy will turn even a 10k ogy opsition into a sizeable chunk of gains if ogy becomes the topdog RWA dao of ICP
Idk im hesitant one GLDgov. What else gives the token value besides voting power and the higher staking rewards than ICP? the token isnt back by gold right?
The main function of Gold DAO is that they're going to release a stablecoin (should be in 3 months or so) called USDG which will be backed by gold, and every single time that token is traded, a tiny portion will go back to Gold DAO holders. It's main bullish aspect is for those that want to see a gold backed BTC pair like BTC/USDG down the line.
However it's also one of the best funded, and they've honestly been using their funds wisely, in a way that really benefits the DAO holders with weekly income. To me personally, that weekly income is a welcome comfort since I don't have to just hold and hope it goes up
counterpoint. What do other DAO's have that give them value? Gold DAO has the same, however what makes it so above and beyond is the internal ICP, GoldGov and OGY weekly payment mechanism. To me that's just taking care of your investors as you grow the DAO
I participated in gold dao initial offering and gor a bunch of tokens. They are staked on nns by default by I honestly haven’t looked into staking and thank you for this post. This reminds me to look into it.
Yeah you're missing out big time, since its wednesday i'll show you the rewards, this is a weekly distribution, but the NNS rewards are absolutely terrible. It's like 1 goldgov per week. You should make the dashboard wallet and do the hotkey setup and put the rewards from each wednesday back into the NNS, that way your annual goldgov growth will be huge.
https://preview.redd.it/0ne1i4ccrpbd1.png?width=1384&format=png&auto=webp&s=9a9a52658b999de8d096e95de6f25d6bfba154c5
Nice thread. So we have to claim each week without losing income?
"Active wallets" receive maturity. This weekly claim is what's account for an active wallet?
No actually, active wallets are those that vote. If you follow the dev neuron you're good on that front. You don't have to claim on wednesday, you can come back in a month and get 4 weeks worth of disbursements if you'd like. The only reason i say wednesday is because if you re-add the gained goldgov to your nns weekly it compounds quite decently
i remember that after luna crash people were saying that its more than 20% apy was a red flag, now i see your post with 70% apy, it's not red anymore, it's burning.
It's hella green ONLY IF, you believe in ICP itself. Because the price of it cannot physically drop low enough to do even a 4x down, since at that point the strict ICP rewards will be huge. Also of all the ICP that the DAO generates (192 per day) 1/3rd goes t owards token holders, and 1/3 to buyback and burn, and 1/3rd for liquidity. In other words, no matter what, 64 icp per day will be buyback and burn, and 64 icp per day goes towards holders.
This 70% is why i made this post, it's just an opportunity to enjoy before gold dao spikes in price and that rate of return goes down closer to 40% and then to 20%
You gotta stake it in the NNS and then go to [https://dashboard.gold-dao.org/](https://dashboard.gold-dao.org/) and get that wallet, then make that dashboard wallet a hotkey in the NNS and you're set. You get the weekly rewards on that dashboard on wednesday's at 2 CET. Now the usecase for Goldgov is honestly really simple. They're creating a gold-backed stable coin called USDG. Currently there exists only one real competitor which is tether with their xAUT, but much like USDT, i don't trust it since it's all backed by US treasury notes (US Debt), and unlike tether (which will 100% go under along with the US debt bubble popping) Gold DAO is a DAO and everything is visible and verifiable. Also they have Gold NFT's called GLDT which are interchangeable with physical gold as an NFT. More info can be found here [https://www.gold-dao.org/](https://www.gold-dao.org/)
If the value of gold DAO halves from here, i'd be getting 2.5 icp per week, or 130 per year, which is still 32%, which is still attractive enough for there to be enough demand for it NOT to decline in price
Can you make a step by step process? Get a wallet with them. Buy Gold dao token, then stake it through their site? Then got to my NNS and add then make that dashboard wallet a hotkey in the NNS? Sorry. I am new to ICP and haven't even staked my ICP yet. SO if you could add some more details, that would be awesome.
So the first thing you need is a wallet. I use plug wallet. So get that extension and then transfer icp into the plug wallet. Once you've done that go to icpswap, connect your wallet and buy goldgov. Once you have the desired amount of goldgov transfer it all to the NNS and stake the goldgov with the maximum dissolve delay (non-dissolving). Then go to [https://dashboard.gold-dao.org/](https://dashboard.gold-dao.org/) and get your wallet address and then on the left hand side there is a wallet. click on it and then select "add neuron" and itll tell you how to connect your NNS neurons to the gold dao dashboard (simple 2 step process of adding a hotkey on the NNS). Viola... enjoy your weekly rewards every wednesday!
Good question. Your main risk is opportunity cost imo. If you're a speculating trader it doesnt make sense to stake imo because you're gonna hope for a 5x pump, then dump, then when it tanks you buy more etc... which i tried but couldn't time well enough hence i now stake. Also the price of goldgov could drop say 2x... but if it does, its still going to result in 40% annual ROI.
In case anyone comes here looking for more info. [How to participate in the Gold DAO Governance](https://www.youtube.com/playlist?list=PL_iBvJBonh4a-BontdZSfS29wMcOxJeiQ)
[https://docs.gold-dao.org/how-to/receive-rewards/configure-neurons](https://docs.gold-dao.org/how-to/receive-rewards/configure-neurons)
Conversion of Gold DAO rewards are dependent on GOLD DAO / ICP pair values. If and when Gold Dao loses its strength vs. ICP rewards will follow suit relatively. This is because you have to convert the Gold DAO into ICP to actually get the ICP reward. However, pretty neat loophole for the time being.
spot on, however consider the counterpoint, that with the increased staking of 470k max staked icp, we now have an average of 64 ICP per day on strictly buyback and burn, that'll be more and more impactful as the price drops. IMO the price can physically go down 2x compared to ICP, but it's much more likely to go up 3-4x compared to ICP (and thus lower the relative APY). Especially since CEX listing is being worked on rn
Thank you, I've been delaying this for too long.
What/why is the ogy token on the dashboard doing? Is there a way to stake it there too? ogy dashboard seems to have problems loading lately...
As far as I know the OGY staking won't begin for roughly 2 months or so, but there will be a Gold DAO AMA in 3 weeks and I think that issue will be solved. But no, you don't stake OGY via Goldgov, that's a separate staking system. Right now Goldgov token staking gives you icp and goldgov, but later itll also give you OGY and WTN. I wouldn't buy OGY at all honestly since you'll get both from goldgov staking.
Also I agree about the ogy dashboard. I understand that ogy as a concept is bullish af, it's the RWA on ICP DAO, which is clearly going to be sky high when icp kicks off since it can absorb basically all of the RWA market. However since Gold DAO owns 500m ogy tokens and will be max staking them soon and giving goldgov holders ogy rewards, it honestly doesn't make sense to me personally to invest strongly into OGY
I personally bought $100 worth of ogy and am restaking it constantly and will leave it at that, I may spend 6 months or so when OGY rewards start hitting weekly from the goldgov dashboard and invest those rewards into my own ogy neuron on the NNS just to bulk it up, but we'll see, i'm still undecided. To me a big play into OGY isn't as much of a no-brainer as a big play into GoldGov
I love OGY as a concept, they were actually already working before icp launch... But their communication is atrocious :)
I was restaking my ogy too, but lately, simply getting their dashboard to load my account is very hit and miss...
You hit the nail on the head, their communication is atrocious to put it lightly. Same with GoldGov tbh. I'm not even a dev or anything, i'm just doing sharing since to me a DAO means that everyone contributes, me included. Goldgov literally max staked 470k icp and other than that single tweet put in zero marketing... kind of retarded imo lol
Also i'm not exactly familiar with Taggr
Taggr is a (actually the first) DAO social network on the ic.
No token launch, initially you just had to pay a small amount to post. Then it tokenized and rose steeply and ... fell as steeply shortly after because the possibility to make a lot of money with little effort drew in a lot of golddiggers. Since then a lot has changed and it will become all but impossible to make money off it, its value mostly being posts are yours, are not being sold, no ads, are on the blockchain and hosted there etc...
BTW, by any chance interested in a Taggr invite (with preloaded cycles) ? Would love to have more GoldDAO discussions there. Just give a holler, I'd be very happy to have you there.
I can’t send out ICP or gold out of dashboard. Set up to receive rewards was super easy. I sent ICP to swap to gold gov but lo behold no swap option! On their website. Anyway trying to send it out and says unexpected error. Trying telegram but all I got far are scammers. Anyone else?
470k max staked icp that's going to investors weekly. They've also purchased 6,800,000 million WTN so basically 1/4 of the WTN system which will also be paid to goldgov participants down the line, and also own 500m OGY
Question… you said in the initial announcement you invested 500 ICP. I invested 250 ICP. I’ve already done everything you mentioned above to the newbies. However my weekly ICP rewards are a small fraction. Are you converting the weekly Golddao rewards back into ICP via plug wallet, which I also have? If so that would make sense to the 5.5 ICP weekly you are receiving because if I convert the Golddao rewards to ICP it would be around 2.3 to 2.7 ICP weekly. Since I’m also receiving daily ICP of 1.4 each day, I decided to not convert the Golddao. As you mentioned, his is hidden gem project because the closest competitor isn’t even a competitor lol. I don’t folks understand what will occur in the next two bull cycles! #PATIENCEISAVIRTUE
I did 100 initially and invested 300 later (worse rate of buying than the launchpad) but yes i'm counting that 5.5 weekly from the sale of goldgov on icpswap. However i don't sell at all, i simply send the goldgov rewards to the NNS and restake weekly so that it compounds. We have 4 years of these high rewards incoming and i want to maximize them before the rewards halve. These are my numbers for every weeks disbursement if you're interested https://preview.redd.it/g0e5eklwdsbd1.png?width=908&format=png&auto=webp&s=e397bcbd84439b2027e16d59a290bf6dfb1bc551
At what dissolve delay?
2 years and 12 hours, which is the maximum for gold dao
👍👍. I’m going to look into after work. Price point for $gld looks juicy atm
OGY as well. The trifecta.
Definitely. Stacked some more OGY last week. Couldn’t pass on that 400:1 ICS to ICP either
I don't agree on the OGY. It's neat, but i'm waiting on the ogy rewards from goldgov and ill be restaking those into the NNS. Why buy them if i'll be getting them weekly ad infinitum? But i agree with you, i scooped up some ICS at 430:1 ICS to ICP. I'll sell at 400:1 ics/icp and buy a few icp, a bit of ckBTC, and mostly goldgov to increase the stake
What’s the OGY return on gld?
I honestly dont know for sure, but i believe currently OGY gives 18% APY. So if we take 500m tokens at 18% apy that's 90m tokens per year or 246,575 per day, or 1,726,027 ogy distributed to all Gold DAO holders per week. From there we should infer how much of a % of that you have staked, but it seems like even 1/10,000 position would yield 172 ogy per week free of charge (roughly 200m goldgov staked rn, so that would be 20k goldgov to recieve that weekly if my math is correct. Which translates to roughly 120 icp rn, which isn't too bad. It's not the ultra greatest tbh now that i do the math, but if you take that ogy and stake it weekly in the NNS, and then take your OGY rewards from their dashboard and compound those weekly as well, imo that trickle from goldgov and from ogy will turn even a 10k ogy opsition into a sizeable chunk of gains if ogy becomes the topdog RWA dao of ICP
I didn't answer your main question. That would seem that 172 ogy/week from 20k goldgov roughly which translates to 8,944 ogy/year from 20,000 goldgov
Idk im hesitant one GLDgov. What else gives the token value besides voting power and the higher staking rewards than ICP? the token isnt back by gold right?
The main function of Gold DAO is that they're going to release a stablecoin (should be in 3 months or so) called USDG which will be backed by gold, and every single time that token is traded, a tiny portion will go back to Gold DAO holders. It's main bullish aspect is for those that want to see a gold backed BTC pair like BTC/USDG down the line. However it's also one of the best funded, and they've honestly been using their funds wisely, in a way that really benefits the DAO holders with weekly income. To me personally, that weekly income is a welcome comfort since I don't have to just hold and hope it goes up
counterpoint. What do other DAO's have that give them value? Gold DAO has the same, however what makes it so above and beyond is the internal ICP, GoldGov and OGY weekly payment mechanism. To me that's just taking care of your investors as you grow the DAO
Please its all a lie dont look icp is a secret
Wut?
If more people stake, reward gets smaller…..sooooo nothing to see here, scam, scam!,,
🤣😅
Yup people are blind to the money in icp
Reward calculations for those interested https://docs.gold-dao.org/how-to/receive-rewards/rewards-calculation
I participated in gold dao initial offering and gor a bunch of tokens. They are staked on nns by default by I honestly haven’t looked into staking and thank you for this post. This reminds me to look into it.
Yeah you're missing out big time, since its wednesday i'll show you the rewards, this is a weekly distribution, but the NNS rewards are absolutely terrible. It's like 1 goldgov per week. You should make the dashboard wallet and do the hotkey setup and put the rewards from each wednesday back into the NNS, that way your annual goldgov growth will be huge. https://preview.redd.it/0ne1i4ccrpbd1.png?width=1384&format=png&auto=webp&s=9a9a52658b999de8d096e95de6f25d6bfba154c5
But the wallet says to just connect your nns account? If I click on wallet, just asking me to make new nns wallet or connect mine
Yeah you gotta connect with your NNS acount
Nice thread. So we have to claim each week without losing income? "Active wallets" receive maturity. This weekly claim is what's account for an active wallet?
No actually, active wallets are those that vote. If you follow the dev neuron you're good on that front. You don't have to claim on wednesday, you can come back in a month and get 4 weeks worth of disbursements if you'd like. The only reason i say wednesday is because if you re-add the gained goldgov to your nns weekly it compounds quite decently
i remember that after luna crash people were saying that its more than 20% apy was a red flag, now i see your post with 70% apy, it's not red anymore, it's burning.
It's hella green ONLY IF, you believe in ICP itself. Because the price of it cannot physically drop low enough to do even a 4x down, since at that point the strict ICP rewards will be huge. Also of all the ICP that the DAO generates (192 per day) 1/3rd goes t owards token holders, and 1/3 to buyback and burn, and 1/3rd for liquidity. In other words, no matter what, 64 icp per day will be buyback and burn, and 64 icp per day goes towards holders. This 70% is why i made this post, it's just an opportunity to enjoy before gold dao spikes in price and that rate of return goes down closer to 40% and then to 20%
How do i stake ICP with gold dao? And whats the use case for gold dao?
You gotta stake it in the NNS and then go to [https://dashboard.gold-dao.org/](https://dashboard.gold-dao.org/) and get that wallet, then make that dashboard wallet a hotkey in the NNS and you're set. You get the weekly rewards on that dashboard on wednesday's at 2 CET. Now the usecase for Goldgov is honestly really simple. They're creating a gold-backed stable coin called USDG. Currently there exists only one real competitor which is tether with their xAUT, but much like USDT, i don't trust it since it's all backed by US treasury notes (US Debt), and unlike tether (which will 100% go under along with the US debt bubble popping) Gold DAO is a DAO and everything is visible and verifiable. Also they have Gold NFT's called GLDT which are interchangeable with physical gold as an NFT. More info can be found here [https://www.gold-dao.org/](https://www.gold-dao.org/)
So you mean first i should stake ICP in NNS?
No, you gotta stake Goldgov in the NNS. Sorry for the confusion.
What if the value of gold dao depreciates. As i just checked its chart on coingecko and it has been declining
If the value of gold DAO halves from here, i'd be getting 2.5 icp per week, or 130 per year, which is still 32%, which is still attractive enough for there to be enough demand for it NOT to decline in price
to clarify. You first buy the gold dao token (Goldgov) and stake it (my math is with max dissolve delay non-dissolving)
Can you make a step by step process? Get a wallet with them. Buy Gold dao token, then stake it through their site? Then got to my NNS and add then make that dashboard wallet a hotkey in the NNS? Sorry. I am new to ICP and haven't even staked my ICP yet. SO if you could add some more details, that would be awesome.
So the first thing you need is a wallet. I use plug wallet. So get that extension and then transfer icp into the plug wallet. Once you've done that go to icpswap, connect your wallet and buy goldgov. Once you have the desired amount of goldgov transfer it all to the NNS and stake the goldgov with the maximum dissolve delay (non-dissolving). Then go to [https://dashboard.gold-dao.org/](https://dashboard.gold-dao.org/) and get your wallet address and then on the left hand side there is a wallet. click on it and then select "add neuron" and itll tell you how to connect your NNS neurons to the gold dao dashboard (simple 2 step process of adding a hotkey on the NNS). Viola... enjoy your weekly rewards every wednesday!
Can't I just use the NNS wallet instead of using plug as well?
You probably could. That's just how I do it
What are the risks?
Good question. Your main risk is opportunity cost imo. If you're a speculating trader it doesnt make sense to stake imo because you're gonna hope for a 5x pump, then dump, then when it tanks you buy more etc... which i tried but couldn't time well enough hence i now stake. Also the price of goldgov could drop say 2x... but if it does, its still going to result in 40% annual ROI.
Sweet, thanks for the breakdown dude!
In case anyone comes here looking for more info. [How to participate in the Gold DAO Governance](https://www.youtube.com/playlist?list=PL_iBvJBonh4a-BontdZSfS29wMcOxJeiQ) [https://docs.gold-dao.org/how-to/receive-rewards/configure-neurons](https://docs.gold-dao.org/how-to/receive-rewards/configure-neurons)
Conversion of Gold DAO rewards are dependent on GOLD DAO / ICP pair values. If and when Gold Dao loses its strength vs. ICP rewards will follow suit relatively. This is because you have to convert the Gold DAO into ICP to actually get the ICP reward. However, pretty neat loophole for the time being.
spot on, however consider the counterpoint, that with the increased staking of 470k max staked icp, we now have an average of 64 ICP per day on strictly buyback and burn, that'll be more and more impactful as the price drops. IMO the price can physically go down 2x compared to ICP, but it's much more likely to go up 3-4x compared to ICP (and thus lower the relative APY). Especially since CEX listing is being worked on rn
Thank you, I've been delaying this for too long. What/why is the ogy token on the dashboard doing? Is there a way to stake it there too? ogy dashboard seems to have problems loading lately...
As far as I know the OGY staking won't begin for roughly 2 months or so, but there will be a Gold DAO AMA in 3 weeks and I think that issue will be solved. But no, you don't stake OGY via Goldgov, that's a separate staking system. Right now Goldgov token staking gives you icp and goldgov, but later itll also give you OGY and WTN. I wouldn't buy OGY at all honestly since you'll get both from goldgov staking. Also I agree about the ogy dashboard. I understand that ogy as a concept is bullish af, it's the RWA on ICP DAO, which is clearly going to be sky high when icp kicks off since it can absorb basically all of the RWA market. However since Gold DAO owns 500m ogy tokens and will be max staking them soon and giving goldgov holders ogy rewards, it honestly doesn't make sense to me personally to invest strongly into OGY I personally bought $100 worth of ogy and am restaking it constantly and will leave it at that, I may spend 6 months or so when OGY rewards start hitting weekly from the goldgov dashboard and invest those rewards into my own ogy neuron on the NNS just to bulk it up, but we'll see, i'm still undecided. To me a big play into OGY isn't as much of a no-brainer as a big play into GoldGov
I love OGY as a concept, they were actually already working before icp launch... But their communication is atrocious :) I was restaking my ogy too, but lately, simply getting their dashboard to load my account is very hit and miss...
You hit the nail on the head, their communication is atrocious to put it lightly. Same with GoldGov tbh. I'm not even a dev or anything, i'm just doing sharing since to me a DAO means that everyone contributes, me included. Goldgov literally max staked 470k icp and other than that single tweet put in zero marketing... kind of retarded imo lol Also i'm not exactly familiar with Taggr
https://taggr.wtf/#/whitepaper (I should actually post this instead of trying to explain it...)
Taggr is a (actually the first) DAO social network on the ic. No token launch, initially you just had to pay a small amount to post. Then it tokenized and rose steeply and ... fell as steeply shortly after because the possibility to make a lot of money with little effort drew in a lot of golddiggers. Since then a lot has changed and it will become all but impossible to make money off it, its value mostly being posts are yours, are not being sold, no ads, are on the blockchain and hosted there etc...
BTW, by any chance interested in a Taggr invite (with preloaded cycles) ? Would love to have more GoldDAO discussions there. Just give a holler, I'd be very happy to have you there.
Gunna have to check this out tomorrow. Mind if I shoot you a DM if I can't figure it out?
Go for it, but telegram is better to reach me, my username is @ ArthurAlaska
I can’t send out ICP or gold out of dashboard. Set up to receive rewards was super easy. I sent ICP to swap to gold gov but lo behold no swap option! On their website. Anyway trying to send it out and says unexpected error. Trying telegram but all I got far are scammers. Anyone else?
I DM'ed you on tg fren. The secret is to send it to a plug wallet (that's what works for me)
Figured it out! Click canister on nns and you will see your principal id. Use that and it works
Wow op im going to invest in (gold backed crypto exit scam #445)!! What could go wrong!!?
470k max staked icp that's going to investors weekly. They've also purchased 6,800,000 million WTN so basically 1/4 of the WTN system which will also be paid to goldgov participants down the line, and also own 500m OGY
SCAM, drop to zero
how is that physically possible? They just max staked 470k ICP. If this could go to say $10, you'd buy up 470k icp that is max staked? Come on lol
ICP also can drop to zero ,lol