Good Entry TGE: The Way
Good Entry Token Generation Event
Good Entry will be starting its token generation event on 27th November 2023.
We’ve been active with Good Entry since February 2023. After many rapid iterations with our community, we believe that product market fit has been reached and we can begin scaling with a token generation event.
We have written this article to share our WHY with you as you come along this journey with us.
Date: 27 November 2023 to 3 December 2023
Where: Good Entry Token Launch Pool
Network: Arbitrum
Total Supply: 1 Billion Tokens
GOOD Tokens Offered: 150,000,000
Price: $0.01
Hard Cap: $1.5 Million USD
Vesting Schedule: Full Unlock
Model: First Come First Serve
Why Token Now?
There are usually two reasons why projects launch tokens.
The first reason is to raise funds to build a concept.
This was a common situation in DeFi summer where VCs validated the quality of projects before community members got to enter. Product market fit at this time was not a priority. Liquidity rewards would create a liquidity surge. Good ponzinomics was all that mattered. People still made money.
The second reason is that projects are prompted to do so by VCs
Timelines are imposed by VCs to launch a token. People may not make any money at all.
We do not share these usual reasons.
What is different about Good Entry is that we had no VCs in a pre-sale. This means our motivation to launch the token is neither of the usual ones. We are unique in that we got to explore our own ideas and our community rewarded us by validating them.
The proof is in the pudding. Numbers have begun surging across all metrics on Dune.
When you realize something works, the logical responsible thing to do is to scale it.
If we were able to thrive in this market, we would thrive in any market.
The bull will accelerate us further.
Now is a GOOD time.
Scaling Good Entry
When it comes to scaling, history informs us that there are two key components to success: a GOOD product and GOOD Vibes.
A key realization of our team: a good product alone is insufficient. History has taught us this valuable lesson. For example, Bitmex might have created perpetuals but once it started working, every exchange started launching it on CeFi and DeFi.
Now, it is available everywhere.
If everyone sells the same things, then EV will converge to a market consensus. The possibility of the pioneer team retaining a premium on their EV is low.
What history has taught us, and it’s best explained by GOOD guy Steve, is that GOOD vibes paired with a GOOD product are the magic formula.
Since the iPhone introduced the touch display, every major phone brand has replicated it. Yet, Apple has managed to retain its differentiation by consolidating on its vibes. When someone owns an iPhone, it is not just a particular product, it represents a certain identity. It represents people who stand for something.
As a result, iPhone users advocate for the product more than their ads. When this happens, it allows Apple to detach from its fundamentals. Enterprise value goes significantly beyond the hardware such that it has become one of the most valuable companies in the world.
Good Entry’s mission is to be one of the most valuable DeFi projects.
We are the best and most degen day-trading platform designed to significantly reduce permanent loss in a retail trader’s portfolio.
Our community needs to get behind this and embrace it as its mission.
We are blessed to have good team members who have shaped our identity with us. GOOD Shoutout to Medocons, Jammer2k, Chartingwealth, FansofBera, Lumiscat, Godmode and many more!
What are GOOD Vibes
Good Vibes is having a real community that will go through moments of success and periods of struggle together. The community builds the project from the ground up with the core product team. Everyone acts as a team member in their own way to contribute from big things like making marketing videos to small things such as dropping a “like” on our Twitter.
Every single effort is expanding GOOD vibes.
To create the glue that binds everyone for the long term requires a token. The token represents the entry price. It’s our stake in the project. In typical startups, the EV is locked until IPO. Team members might not get access to their equity if they leave prematurely. We believe this should not be the case in a better world.
If every effort is seen as GOOD And if everyone is needed to act as a team member, then the only logical move is to allow all the Good Entry DAO members to enter the project at the same price on the same terms at the same time.
The project wins when we surround ourselves with good people.
One Team One Dream
We build together. Win together.
When early holders see prices rising due to their efforts, the legendary fulfillment will sustain the project. It will create more advocates, more value, and a repetition of this cycle.
Scaling will happen. Growth will be inevitable.
So, we are happy to announce that our Token Generation will begin on 27 November 2023 (Monday). The token will be priced at $10M FDV. The pricing was decided by referencing prevailing market rates for comparable projects. It will be a fair launch without any whitelist and will have the same terms for anyone who wants to participate: whether you set up your wallet yesterday or you’re a VC.
Unlike regular VC rounds, $GOOD will have no vesting for TGE participants. The token will be fully liquid. Just like we’ve protected our users from permanent loss, we’re eliminating as much potential downside for our investors too! Community are free to choose how they wish to stay and contribute.
The project has been self-funded until TGE.
Funds raised will be used for team development expenses and audits.
Operational details with detailed HOW-TO FAQs will be released subsequently.
$GOOD Model
Good Entry employs a dual token model. $GOOD is our liquid trading token. esGOOD represents a governance token that is non-transferable and can receive a stake of protocol profits based on governance.
Learning from the Arbitrum STIP experience, we learned the value of governance. We credit much of our improvement in growth to our advisors Ouroboros Capital and 3Poch Labs.
It also showed us in very clear terms what scalability needs — GOOD People.
As a relatively new project, we definitely punched above our weight, coming in at #17 out of the 30 approved grant projects in terms of “FOR” votes.
GOOD people are important to scalability. We need to rely on governance to transition from a community-driven project to a community-owned project.
Our tokenomics have been designed keeping that in mind:
Retro liquidity mining and all points accumulated from various quests will come from the community allocation pool.
We also intend to create an advisory council of 8 members.
They will be consulted by Masterbean on the strategy for the utilization of key token pools such as partnerships, liquidity mining, and reserves. The appointment will be on a rolling annual basis.
There are four members that the team will back with 11% of Team Governance tokens: QCP Capital, Ouroboros Capital, DefiMadeHere, and 3pochLabs.
The remaining four vacancies will be open for contest to be voted in.
Candidates who wish to be elected will need to promote the community to lock $GOOD for $esGOOD before the snapshot to vote them in. This will be a test of who can build the most $GOOD vibes.
The strongest will emerge.
Good Entry benefits from more talented members.
Not having fixed unlocks and schedules for key token pools might deviate from the norm.
However, we believe if we are to beat the norm, we cannot act like the norm.
We must act from logical principles informed by history then the possibility of success increases
Good Entry Wins When We Let GOOD People Win.
This is the way
