# Introduction Welcome to DeGym Network. Where Fitness Meets Finance. Welcome to DeGym Network Documentation, a revolutionary platform at the intersection of fitness, finance, and technology. ## How It Works? 1. **Join the Network**: Sign up on DeGym DApp connecting your web3 wallet (ensure that you are connected to [taraxa mainnet](https://docs.taraxa.io/wallet)). 2. **Acquire your NFT Voucher**: Purchase NFT voucher that suit your fitness needs. 3. **Earn While You Burn**: As you work out, earn DeGym tokens (DGYM) that can be redeemed for various benefits. 4. **Trade and Stake**: Use your tokens to access exclusive services, trade them on our marketplace, or stake them for additional rewards. 5. **Enjoy the Benefits**: Experience the flexibility, transparency, and rewards that come with being part of the DeGym community.
Decentralized Gym Network/pages/prHzb3oJNfcPgEpg2VkB/files/mfPWyjMEdVY9iaehkYei
DAO/pages/Xff4ZlxMsO0SZL5302Md/files/mfPWyjMEdVY9iaehkYei
Purpose/pages/OrIR0PTHeAhQnR8jd2tC/files/mfPWyjMEdVY9iaehkYei
# Decentralized Gym Network The first Decentralized Gym Network - revolutionizing fitness industry with Taraxa In a world where access to fitness facilities can be limited by location and time, DeGym emerges as a revolutionary platform breaking down these barriers. By leveraging the power of decentralization, DeGym provides users with the feasible access gyms and fitness centers worldwide, anytime they choose. Through innovation and community-building, DeGym is redefining the fitness landscape, creating a global network of accessible, high-quality gym facilities. Our mission is to reshape the fitness industry by leveraging the power of decentralized finance (DeFi) and blockchain technology. Whether you’re a fitness enthusiast, a gym owner, or an investor looking for innovative opportunities, DeGym Network offers something extraordinary for you. DeGym Network was born from the realization that the fitness industry is ripe for disruption. Traditional gym memberships and fitness programs often come with limitations and inefficiencies that frustrate both gym-goers and gym owners. Our founders, a group of fitness enthusiasts and blockchain experts, saw the potential to transform this space by integrating DeFi principles with health life styles. ## The Problem In the traditional fitness world, gym memberships are static and rigid. Members pay a fixed fee, regardless of how often they use the facilities. Gym owners struggle to maintain profitability, especially during times of economic uncertainty or health crises. There’s a lack of flexibility and reward for actual participation and commitment. ## The Solution DeGym Network introduces a dynamic and decentralized approach to gym memberships and fitness rewards. Using distributed ledger technology, we have created a platform where: * **Members Earn Rewards**: Members earn tokens for every workout session, which can be used to access premium services, trade, or stake for additional benefits. * **Flexible Memberships**: Memberships are tokenized, allowing users to buy, sell, or rent them on our marketplace. This creates a fluid and adaptable membership model. * **Gym Owners Thrive**: Gym owners can attract more members by offering their spaces, getting more visibility and earn rewards proportionally, enhancing their revenue potential. * **Transparency and Security**: All transactions and memberships are secured on the blockchain, ensuring transparency and trust for all participants. ## Core Values * **Accessibility:** Making fitness facilities accessible to everyone, everywhere. * **Innovation:** Continuously improving and innovating to provide the best user experience. * **Community:** Fostering a global community of fitness enthusiasts. * **Flexibility:** Offering flexible solutions to meet diverse fitness needs. * **Empowerment:** Empowering individuals to take control of their fitness journey. * **Integrity:** Maintaining transparency and honesty in all operations. This project is a decentralized autonomous organization for managing gym access and rewards using DLT enhaced with smart contracts. Consumers can purchase NFTs vouchers for access, Providers (gyms, studios, or well-being services) can provide your services in order to boost their revenue, and various rewards systems are implemented. Our decentralized gym access DApp aims to create a robust, engaging, and transparent ecosystem that benefits both gym providers and consumers. We envision a future where fitness becomes more accessible, rewarding, and secure for everyone. # Purpose Mission and Vision of DeGym DAO ## 🔭 **Vision** At DeGym, we envision a world where fitness is universally accessible and inclusive, empowering both users and gym owners. Our goal is to create a global community where fitness enthusiasts can access any gym, anytime, anywhere, without traditional barriers. We aim to promote small and independent gyms by providing them with the tools and platform to gain traction and thrive. By leveraging blockchain technology, we ensure a transparent, secure, and flexible check-in system, allowing gym owners to receive payments in their preferred tokenized currencies. This vision drives us to eliminate physical and financial constraints, making health and wellness seamlessly integrated into modern web 3.0 lifestyles. ## 🚀 **Mission** Our mission is to revolutionize the fitness industry by building a decentralized, transparent, and user-centric gym access ecosystem. We empower users with seamless, global access to a diverse network of gyms, while offering gym owners the flexibility to accept payments in multiple digital currencies, enhancing their business potential. We are committed to promoting small gyms, ensuring they have equal opportunities to attract and retain members. Additionally, DeGym provides partners and stakers with fair and incentivized economic opportunities, fostering a collaborative community focused on promoting health, well-being, and active lifestyles worldwide. ## Approach With extensive experience in both the technical and managerial facets of crypto, we are now developing a new, self-sustaining decentralized autonomous gym network that **prioritizes the community over private investors and VCs**. Our project is designed with the everyday investor in mind, aiming to be as inclusive as possible. For strategic and legal reasons, we maintain our anonymity. The complexities of blockchain creation, token issuance, and the sales process demand careful navigation of the evolving legal landscape. We anticipate revealing our identities and past achievements as the project solidifies and the regulatory environment becomes clearer. We are already in discussions with potential collaborators who share our vision of building not just a DAO, but a movement that empowers its community. The DeGym team is dedicated to transparency, innovation, and the democratization of gym access. ## **Long-Term Goals** * **Simplify Gym Access:** Enable users to effortlessly access gyms through NFTs and staking. * **Technological Advancements**: Continuously integrate the latest DLT and fitness technology to enhance user experiences and operational efficiency. * **Community Development**: Build a robust community of fitness enthusiasts, gym providers, and investors who are actively involved in governance and promotion of the DAO. Implement gamification and badges to motivate and reward users for their fitness activities. * **Global Network Expansion**: Expand the network of participating gyms to include facilities in every major city around the world, ensuring gym access is as universal and seamless as possible engaging for a wider audience, regardless of their location. * **Sustainable Rewarding Ecosystem:** Create a system where both gym providers and consumers benefit through rewards and incentives. # Value Propositions DeGym DAO presents several compelling value propositions that can redefine gym access and the fitness industry: {% hint style="info" %} Summary: This section describes why you're supposed to use DeGym: * **Decentralized Governance**: Members of DeGym DAO have a say in key decisions, ensuring that the system evolves in ways that benefit all stakeholders — gym consumers, gym providers, and token holders. * **Transparency and Autonomy**: The use of DLT guarantees that all transactions and operations are transparent and secure, reducing fraud and increasing trust among participants. * **Financial Incentives**: Stakers and gym providers benefit financially through a unique model that rewards user activity and stakeholder commitment. * **Innovation in Fitness Accessibility**: By providing seamless access to multiple gyms via a single membership model, DeGym increases convenience and potentially boosts gym attendance and fitness commitment among users. {% endhint %} ## How can DeGym benefit you? DeGym offers significant benefits to various stakeholders in the fitness ecosystem: 1. **Gym Consumer:** DeGym provides a seamless and flexible voucher system through NFTs, allowing users to access multiple gyms under a single, convenient plan. This enhances consumer convenience and encourages more frequent gym visits. 2. **Gym Providers:** They benefit financially as they receive payments each time a consumer checks in. This model incentivizes gyms to join the network, potentially increasing their customer base without the need for extensive marketing. 3. **Stakers:** Individuals staking DGYM tokens are rewarded based on the inactivity of gym consumers. If users do not visit the gym, stakers receive a portion of the voucher fees, creating an investment opportunity linked directly to the network's activity levels. These aspects position DeGym DAO to potentially transform how people engage with fitness facilities, making it an innovative leader in the health and fitness sector. This innovative model leverages DLT to create a symbiotic relationship between gym consumers, providers, and investors, making DeGym a potentially transformative force in the fitness industry. # Roadmap Here is a detailed roadmap to guide the project from inception to launch and beyond. This roadmap is divided into quarters, with key milestones and activities for each period. ## PHASE A | Conceptualization & Community Building > *`Shaping the Vision and Token Launch`* * [x] Concept Development * [x] Market Research (competitors and market trends in fitness + defi) * [ ] Whitepaper drafting * [x] Technical documentation * [x] Branding and initial design * [x] Integrate Wallet & Chain (Testnet) * [ ] Online presence * [x] Telegram launch * [x] Discord launch * [x] X launcch * [ ] Medium launch * [ ] Zealy launch * [ ] Galxe launch * [x] Main Website (wireframes and mockups) * [ ] Governance * [x] Improvement Proposals (discord & github) * [ ] Voting (snapshot) * [ ] Token launch * [ ] Pre-seed Sale * [ ] Smart Conctracts Tests (Staking) * [ ] Staking Tests * [ ] Private Sale ## PHASE B | Partnerships & Marketing > *`Global Visibility and Growth`* * [ ] Smart Conctracts Tests (NFT Vouchers, Gym Catalog, Checkins) * [ ] Search Engine for near gyms (indexed off-chain) * [ ] Vouchers marketplace UI (wireframe) * [ ] Ecosystem partnerships * [ ] DEX Listing * [ ] Public sale * [ ] Airdrop Campaign * [ ] Community engagement * [ ] Website Redesign - **Feature Implementation:** - ``` * Complete core feature development (NFT access, staking, pay-per-access). ``` ## PHASE D | Future Enhancements > *`Continuous Developmen`* * [ ] Cross-Chain functionality * [ ] Smart Contracts Audits * [ ] Smart Contracts integration with UI * [ ] Gas optimization techniques * [ ] CEX Listing * [ ] Global compliance adherence * [ ] Economical sustainability initiatives launch * [ ] Implement gamification elements (badges, leaderboards, challenges). **Month 7:** * **Alpha Testing:** * Launch an internal alpha version for testing within the team. * Collect feedback on usability, bugs, and performance. * **Bug Fixes & Improvements:** * Address critical issues and improve functionalities based on feedback. **Month 8:** * **Beta Testing:** * Release a public beta version to a select group of users (gym providers and consumers). * Collect user feedback through surveys and direct communication. * **Performance Optimization:** * Optimize performance and scalability based on beta testing results. **Month 9:** * **Final Adjustments:** * Implement final adjustments and enhancements to the DApp. * Ensure all features are working as intended and the user interface is polished. * **Security Audits:** * Conduct thorough security audits of smart contracts and the DApp. **Q4: Launch & Marketing** **Month 10:** * **Pre-Launch Activities:** * Prepare marketing collateral (website, social media, press releases). * Engage with potential users through webinars, AMAs, and community events. * Finalize documentation for users and developers (user guides, API documentation). **Month 11:** * **Official Launch:** * Launch the DApp publicly. * Monitor the launch for any immediate issues and address them quickly. * **Marketing Campaign:** * Implement a comprehensive marketing campaign to attract users and gyms. * Use social media ads, influencer partnerships, and content marketing to reach target audiences. **Month 12:** * **Post-Launch Monitoring:** * Continuously monitor the platform for bugs and issues. * Collect user feedback and analyze usage data. * **Continuous Improvement:** * Plan and implement updates based on user feedback and market demands. * Introduce new features and enhancements regularly to keep the DApp engaging. **Beyond Q4: Ongoing Operations** * **User Engagement:** * Continuously engage users through events, challenges, and community activities. * Maintain and improve gamification elements. * **Partnerships:** * Form partnerships with gyms, fitness influencers, and blockchain communities. * **Scalability:** * Ensure the platform scales as user base grows. * Explore integration with other blockchain networks and fitness platforms. * **Innovation:** * Stay updated with blockchain and fitness industry trends. * Innovate and introduce new features to stay competitive. *** This roadmap provides a comprehensive plan to guide the development and launch of the decentralized gym access DApp. # PHASE A | Conceptualization & Community Building PHASE A | Conceptualization & Community Building > *`Shaping the Vision and Token Launch`* * [x] Concept Development * [x] Market Research (competitors and market trends in fitness + defi) * [ ] Whitepaper drafting * [x] Technical documentation * [x] Branding and initial design * [ ] Online presence * [x] Telegram launch * [x] Discord launch * [x] X launcch * [ ] Medium launch * [ ] Zealy launch * [ ] Galxe launch * [x] Main Website (wireframes and mockups) * [ ] Governance * [x] Improvement Proposals (discord & github) * [ ] Voting (snapshot) * [ ] Token launch * [ ] Pre-seed Sale * [x] Smart contracts drafting * [ ] Staking Tests # PHASE B | Partnerships & Marketing # PHASE D | Future Enhancements # Brand Assets Brand Book This repository is dedicated to providing all the necessary branding materials to ensure DeGym is represented consistently across all touchpoints. {% embed url="" %} # Organization A collectively-owned organization working towards a shared mission. DAO is self-governing organization that operate on smart contracts, allowing for transparent decision-making and governance. Starting an organization with someone that involves funding and money requires a lot of trust in the people you're working with. But it’s hard to trust someone you’ve only ever interacted with on the internet. With DAOs we don’t need to trust anyone else in the group, just the DAO’s code, which is 100% transparent and verifiable by anyone. The DAO allow us to work with like-minded folks around the globe without trusting a benevolent leader to manage the funds or operations. There is no CEO who can spend funds on a whim or CFO who can manipulate the books. Instead, blockchain-based rules baked into the code define how the organization works and how funds are spent. This opens up so many new opportunities for global collaboration and coordination. **DeGym is managed by the DeGym DAO**. The DAO members govern DeGym to ensure its efficiency and stability. The DeGym DAO should do the following ## Scope & Functions The DeGym DAO have built-in treasury that no one has the authority to access without the approval of the group. The DeGym DAO should do the following: * Build, deploy, update, and decide on key parameters of staking protocols, approve incentives for parties that contribute towards DAO’s goals; * Approve DGC (DeGym Grant Committee) grants to support different research and initiatives that are worked upon for the benefit of the protocol; * Payments to full-time contributors and other operational duties; * Bug bounty program, respond to emergencies; * Accumulation of service fees from DeGym, which can be funneled into the insurance and development funds, distributed by the DAO; Decisions are governed by proposals and voting through the voting power of governance token (`DGYM`) to ensure everyone in the organization has a voice, and everything happens transparently on-chain. It manages the degym protocol and all possible future sub-protocols by deciding on key parameters: * Inflation Decay Constant * Max Supply * Staking epoch lengths * Oracles The DAO is the logical compromise between a team or a community-driven protocol, which allows the deployment of competitive products without full centralization and custody of the exchanges. ## **Council** For the DeGym network to remain healthy and viable in the long-term, it must be adaptable and responsive to the network stakeholders’ demands over time. To that end we propose the following governance model, and welcome feedback from the broader community. For the avoidance of doubt, the right to vote does not entitle DeGym token holders to vote on the operation and management of the Foundation, its affiliates, or their assets, and does not constitute any equity interest in any of these entities. Since voter turnout is a persistent problem in almost all electoral systems – including decentralized ecosystems – a council will be elected to represent the interests of passive stakeholders in the DeGym network. These Council Members may determine features and/or parameters of DeGym as well as protocol improvements and new product development, or even changes to the governance process itself. The size of the council will increase as the network size increases. The size of the council will be determined at network launch, starting with a relatively smaller number and then scaling upward as the network matures. ### **Purview** The council will vote on decisions that impact all aspects of the DeGym network, including anything from code upgrades to adjustments to the reward mechanism. These changes will eventually be encoded into each node’s codebase that will automatically enact approved decisions. ### **Election** The council will be elected via a single transferable vote (STV) system, with the number of votes determined by the number of DeGym tokens held by each voter with a bonding time modifier (see below). This is a widely used voting system to achieve proportional representation through ranked voting for multi-seat organizations. Here’s a simple description of the STV system with a Droop quota. *Premises* * N seats are available * V valid votes are cast * T is the minimum threshold of votes necessary to win any given seat, with T = ceil (valid votes cast / (seats to fill + 1)) *Voting steps* 1. Council candidates nominate themselves 2. Stakeholders cast their votes for their most preferred N candidates ranking from most to least preferred 3. Starting from all stakeholders’ first choice votes 4. Any candidate receiving votes greater than T is elected into the council 5. The elected candidates’ received votes in excess of T are transferred to those voter’s next choice 6. If no candidate receives votes in excess of T, eliminate the candidate with the least number of votes and transfer those votes to the voter’s next preferred candidate 7. Repeat steps 4-6 until we have either elected a candidate for every seat, or the number of remaining seats equal to the number of remaining candidates – in which case those remaining candidates are elected **Council Member Terms** Each council member has a term of approximately 12 weeks. In actual implementation, the term will be determined by counting the number of periods that have elapsed. As the network grows and council expands, we will try to stagger the terms to make sure only a portion of the council members are up for reelection at any given election cycle. *** Preparation for governance votes & communication will be managed via Dedicated [Discord](https://discord.gg/zFSBQtfF) channels. Voting will be conducted via Snapshot. # DGYM Tokenomics First and foremost a governance token with lots of utility Note: this is a ***preliminary outline*** of the overall intent for the DeGym DAO's economics. These designs will be finalized at dapp launch via the governance process by stakeholders from the community, and they are subject to alterations via the same process. DeGym token would also provide the economic incentives which will be distributed to encourage users to contribute and maintain the ecosystem on DeGym, thereby creating a win-win system where every participant is fairly compensated for its efforts. DeGym token is an integral and indispensable part of DeGym, because without DeGym token, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on DeGym. Given that additional DeGym token will be awarded to a user based only on its actu~~a~~l usage, activity and contribution on DeGym, users of DeGym and/or holders of DeGym token which did not actively participate will not receive any DeGym token incentives. There will be inflation (see the section on [Inflation](/dao/dgym-tokenomics/inflation)) which comes in the form of [rewards](/dapp/staking/reward-program) providing staking yield, but will only inflate upon stakes that are in circulation and have been bond in the staking dapp. In other words, any tokens that are locked cannot be staked, therefore generates no inflation. *** ### Token Info **Token Ticker:** $DGYM **Chain:** Taraxa BlockDAG **Initial Supply:** 1 Billion. **Max Supply:** 10 Billion **(It asymptotically approach the Cap accordingly to the** [**inflation**](/dao/dgym-tokenomics/inflation)**)**. **Token Contract Standard:** ERC20 **Token Contract Address:** 0x... (coming soon) *** ### Utility The $DGYM token serves multiple utility functions within the DeGym's ecosystem, enhancing its intrinsic value and usability. Beyond its fundamental role, $DGYM offers a range of essential utilities and governance opportunities: * **Revenue Distribution**: DeGym tokens contribute to the ecosystem's growth and sustainability. A portion of transaction fees generated by DeGym is distributed among $DGYM holders, providing a direct financial incentive for participation. * **Access and Voucher:** Tokens can be used to purchase NFT-based gym voucher, providing access to a network of gyms. * **Staking Rewards:** Users are incentivized to stake DeGym tokens, earning additional $DGYM rewards as part of the staking program. This encourages long-term engagement and support within the community. * **On-chain Governance:** $DGYM holders have voting rights in the DAO, allowing them to participate in decision-making processes regarding the development and rules of the ecosystem. * **Payment and Incentives:** Gyms receive $DGYM tokens as payment for check-ins, and users may receive tokens as rewards for fitness-related activities and promotions. These utilities ensure that $DGYM remains a vital and active component of the DeGym ecosystem, facilitating both operational needs and strategic growth. As the ecosystem grows, DeGym tokens will continue to underpin innovative developments and foster a vibrant community. *** **No Slashing** DeGym will not implement a slashing or punishment mechanisms at this moment. It is incredibly difficult to design economic incentive schemes that properly motivate players in a system to behave in ways that are deemed constructive. As a rule, such mechanisms need to be as simple as possible, as more complexity creates more opportunities to game these mechanisms. # Allocations Initial Allocation Plan - Percentages based on the original 1bn supply (Initial Supply) Explore the comprehensive allocation plan for the DeGym **$DGYM** token, designed to empower our community and drive healthy on Taraxa: {% @mermaid/diagram content="%%{init: {'theme': 'forest'}}%% pie title $DGYM Token Allocation "Pre-Seed Sale" : 3 "Private Sale" : 7 "Public Sale" : 30 "Ecosystem Development Fund" : 20 "Community Engagement Fund" : 12.5 "Marketing and Promotion Fund" : 12.5 "Initial Team": 15" %}
Allocation% of Initial Total SupplyExplanation
Pre-Seed Sale3%This fund is crucial for the initial phase, ensuring liquidity and supporting the public token sale. It aims to make the protocol lauch, as well as the DAO more populated by providing a pre-seed buy opportunity. A special pre-seed contract will hold $DGYM that people can buy after TGE until the end of the pre-seed period. All unsold supply will be burnt at the end of this phase.
Private Sale7%Tokens sold through private offerings before public sale to strategic investors.
Public Sale30%This fund is crucial for the initial phase, ensuring liquidity and supporting the public token sale. It aims to stabilize the market entry and foster early adoption, setting a strong foundation for growth.
Ecosystem Development Fund20%Allocation dedicated to fostering innovation and growth within the ecosystem. It supports projects, initiatives, and partnerships that contribute to the expansion and enhancement of the platform, ensuring a thriving and sustainable environment for users and developers alike.
Team Growth Fund15%Aimed at bolstering the team's capabilities, this fund is allocated for hiring new talents and providing resources for training and development. It ensures the team remains at the forefront of technology and industry standards, enabling continuous improvement and innovation.
Community Engagement Fund12.5%Designed to strengthen the bond with the community by supporting activities, events, and programs that encourage participation, feedback, and collaboration. It's an investment in building a loyal and active community base, crucial for long-term success.
Marketing and Promotion Fund12.5%Focused on amplifying the project's visibility and reach, this fund supports marketing campaigns, promotional activities, and strategic partnerships. It aims to drive awareness, adoption, and engagement across various channels, propelling the project into the spotlight.
## Pre-Seed Sale ***Allocation: 3%*** We aim to make the protocol lauch, as well as the DAO more populated by providing a pre-seed buy opportunity. All unsold supply will be burnt ensuring scarcity. ***Vesting Schedule:** 2 months* *cliff**,*** followed by linear vesting over 18 months for a total of 30,000,000 DGYM tokens. No tokens will be distributed during the first 2 months, with a gradual release thereafter to ensure a consistent supply of tokens to the market. ## Private Sale ***Allocation: 7%*** Tokens sold through private offerings before public sale to strategic investors. ***Vesting Schedule:** 3 months* *cliff**,*** followed by linear vesting over 24 months for a total of 70,000,000 DGYM tokens. No tokens will be distributed during the first 3 months, with a gradual release thereafter to ensure a consistent supply of tokens to the market. ## Public Sale and Liquidity ***Allocation: 30%*** The DeGym Public Sale and Liquidity initiative is strategically designed to ensure a seamless market entry and robust liquidity from the outset. This step aims to facilitate widespread access to $DGYM tokens through a transparent and accessible public sale, laying the groundwork for a stable and thriving trading environment. Following the sale, the focus shifts to maintaining liquidity, essential for the token's long-term viability and the ecosystem's growth. This initiative marks the beginning of our journey, setting the stage for future expansion and success. ***Liquidity Lock-up period:*** The liquidity will be locked for 12 months. This means that the liquidity provided on the platform will be locked and inaccessible for withdrawal or trading for a full year, ensuring stability and security in the market by preventing sudden liquidity withdrawals. ## Ecosystem Development Fund ***Allocation: 20%*** The Ecosystem Development Fund serves as a dynamic incentive program, crafted to catalyze the growth of the DeGym ecosystem. It is dedicated to financially supporting the communities and enterprises that are pivotal in broadening the DeGym network. This fund acts as an initial accelerator, with a clear plan to gracefully conclude its operations once the allocated $DGYM resources have been fully distributed. ***Lock-up period:** 1 month* *cliff**,*** followed by linear vesting over 11 months for a total of 200,000,000 DGYM tokens. No tokens will be distributed during the first month, with a gradual release thereafter to ensure a consistent supply of tokens to the market. ## Team Growth Fund ***Allocation: 15%*** The Team Growth Fund is meticulously crafted to support the strategic expansion and enhancement of our team. This fund is dedicated to attracting top-tier talent and investing in the professional development of our team members. By focusing on nurturing skills and fostering a culture of innovation, the Team Growth Fund ensures our project stays at the cutting edge of technology and industry practices. It's an investment in our people, recognizing that a skilled and motivated team is the cornerstone of sustained success and growth. ***Lock-up period:** 1 month* *cliff**,*** followed by linear vesting over 11 months for a total of 150,000,000 $DGYM tokens. No tokens will be distributed during the first month, with a gradual release thereafter to ensure a consistent supply of tokens to the market. ## Community Engagement Fund ***Allocation: 12.5%*** An 8% reserve of the $DGYM token supply is earmarked for future user engagement initiatives, including airdrop campaigns, bounty programs, and more. Given the susceptibility of airdrops to manipulation, DeGym will meticulously devise the criteria to ensure fairness in distribution. The goal is to reward those who contribute positively to the DeGym community. Engaging actively and constructively is the most effective strategy to enhance your chances of benefiting from future airdrops. ***Lock-up period:** 2 weeks* cliff, followed by linear vesting over 11 months, totaling 125,000,000 $DGYM tokens. No tokens will be distributed during the first two weeks, with a gradual release thereafter to ensure a steady supply of tokens to the market. ## Marketing and Promotion Fund ***Allocation: 12.5%*** The Marketing and Promotion Fund is strategically allocated to amplify our project's presence and reach within the market. This fund underpins aggressive marketing campaigns, innovative promotional activities, and strategic partnerships aimed at driving brand awareness and engagement. It's a pivotal resource for navigating the competitive landscape, ensuring our message resonates with our target audience and our project stands out. Investing in marketing and promotion is not just about visibility—it's about building a connection with our community and stakeholders, laying the foundation for long-term growth and success. ***Lock-up period:** 2 weeks* cliff, followed by linear vesting over 11 months, totaling 125,000,000 DGYM tokens. No tokens will be distributed during the first two weeks, with a gradual release thereafter to ensure a steady supply of tokens to the market. # Distribution Phases Pre-Seed, Private Sale, and Public Sale Token Distribution Plan The DeGym project is embarking on a phased approach to raise funds and distribute tokens, ensuring fair market valuation and rewarding early investors. This document outlines the strategy for the pre-seed, private sale, and public sale phases, including token distribution, pricing, vesting periods, and the future adjustment of token prices. ## Token Generation Event At the `$DGYM` contract deployment, `1.000.000.000(1 billion)` will be minted (ERC-20) and allocated according to [Allocation](/dao/dgym-tokenomics/usddgym-tokenomics). *** ## 🌱 Pre-Seed Phase * **Token Allocation:** 3% of the total token initial supply (300,000,000 DGYM) * **Vesting Period:** To ensure commitment and gradual release of tokens * **Unsold Tokens:** Any unsold tokens from the pre-seed phase will be burned forever to maintain scarcity and increase the value of circulating tokens * **Objective:** Validate market interest, raise initial funds, and set a baseline for token value ### Vesting Schedule: * **End Phase Event:** 2 months * **Monthly Vesting:** Remaining tokens vested over 18 months ### Key Points: * **Fair Initial Pricing:** Tokens will be priced to attract early supporters while reflecting their future potential value. * **Burning Unsold Tokens:** Any tokens not sold during the pre-seed phase will be burned, reducing the total initial supply and potentially increasing the value of remaining tokens. *** ## 🐋 Private-Sale Phase * **Token Allocation:** 7% of the total token initial supply (700,000,000 DGYM) * **Price Adjustment:** The price per token will be 30% higher than the final price from the pre-seed phase * **Objective:** Raise significant funds for project development, marketing, and operational expenses ### Price Calculation: * **Final Pre-Seed Price:** Determined based on the total market cap accumulated during the pre-seed phase * **Private Sale Price:** 30% higher than the final pre-seed price to reward early investors and reflect the project's progress and increased value ### Vesting Schedule: * **End Phase Event:** Cliff of 3 months * **Monthly Vesting:** Remaining tokens vested over 24 months *** ## 🌐 Public Sale Phase * **Token Allocation:** 30% of the total token initial supply (3,000,000,000 DGYM) * **Objective:** Raise significant funds for further project development, marketing, community building, and operational expense * **Price Adjustment:** The price per token will be 30% higher than the final price from the private sale phase ### Price Calculation * **Private Sale Unsold Tokens:** All unsold tokens from the Private Sale phase will be permanently burned * **Public Sale Price:** 30% higher than the final private sale price to reflect the project's ongoing progress and market conditions ### Vesting Schedule: * **End Phase Event:** 100% unlocked immediately (No Cliff) * **Monthly Vesting:** No remaining for vesting *** ## Summary 1. **Pre-Seed Phase:** * Allocate 3% of tokens * Vesting period with monthly releases * Burn unsold tokens 2. **Private Sale Phase:** * Allocate 7% of tokens * Price 30% higher than pre-seed final price 3. **Public Sale Phase:** * Allocate 30% of tokens * Price 30% higher than private sale price 4. **Token Burn:** * Burn all unsold tokens from the pre-seed phase ### Token Burn Mechanism * **Pre-Seed Unsold Tokens**: All unsold tokens from the pre-seed phase will be burned * **Purpose:** To create scarcity, potentially increasing the value of the remaining tokens ### Market Cap Adjustment * The price per token will be adjusted based on the market cap accumulated during each sale phase. This ensures a fair valuation and aligns the token price with the project's progress and market demand. This phased approach ensures fair distribution, rewards early investors, and aligns token prices with market demand and project progress. # Inflation This section contains everything about the DGYM inflation Stakeholders can stake their DGYM tokens to earn rewards. The reward distribution is based on the amount staked and the duration for which the tokens are staked. The longer the tokens are staked, the higher the reward. These rewards are generated through the inflation explained in this document. ## DGYM Token Inflation Mechanism The DGYM Token employs an inflation mechanism **designed to regulate the token supply dynamically**. This document explains how the inflation mechanism works and provides details about the smart contract's behavior. ### Parameters * **Inflation Decay Constant**: 0.046% (Approx 17% annual decay) * **Max Supply**: 10,000,000,000 DGYM * **Initial Supply**: 1,000,000,000 DGYM * **Inflation Interval**: Daily {% hint style="info" %} These parameters can be modified through the DAO voting {% endhint %} ### Inflation Rate Calculation The daily inflation rate is dynamically calculated based on the remaining supply ratio and a decay constant. The formula used is: $$ Y\_c = D\_c \times \left( \frac{S\_m - S\_c}{S\_m} \right) $$ Where: * $$D\_c$$ is the inflation decay constant (daily). * $$S\_m$$ is the maximum supply. * $$S\_c$$ is the current supply. ### Inflation Application The inflation is applied daily. When the inflation is applied, new tokens are minted and added to the total supply. **The total supply asymptotically approaches the the max supply**.

Total Supply and Inflation Rate Over Time

## **Impact of Inflation on the Economy** The DeGym's inflation model is meticulously designed to balance new token creation with economic incentives for stakeholders. By adjusting block rewards and modeling inflation rates, DeGym aims to encourage network security and participation while gradually transitioning to a more stable token economy. This approach not only secures the network but also aims at a fair distribution of rewards, thereby ensuring the long-term viability and value of the DGYM token. DeGym's innovative approach to managing inflation through its tokenomics and reward systems demonstrates a sophisticated understanding of DAO economy dynamics. The daily reduction in rewards and carefully calibrated inflation rate are central to DeGym's strategy for creating a stable and sustainable economic model that benefits stakeholders and the broader ecosystem. The DGYM Token's inflation mechanism ensures that the token supply is dynamically regulated while rewarding stakeholders based on their contribution and commitment. The smart contract implementation **ensures fairness and transparency** in the distribution of rewards. # Governance DeGym's governance is an evolving process that aims to eventually achieve what's described in the [Organization](/dao/organization). For now, governance for major decisions in the ecosystem will go through an on-chain, direct-election governance vote where DGYM holders directly decide the direction the ecosystem takes. ## Where are the governance vote proposals? All governance vote proposals are stored on Github: . Before a governance vote passes, they're called DeGym Improvement Proposals, or DGIP. It is a public repository and anyone can create a pull request to submit a proposal. Please make sure that proposals are well-articulated and well-researched, so that the DeGym community is able to make an informed decision during the governance vote. Once these proposals make it to the governance vote, they'll also appear on snapshot.org (see below). ## Where to vote? DeGym's governance vote UI: ## What's the voting system? The development team is bound by the outcome of the vote, and will implement whatever the outcome of the governance vote is. The development team will adhere to a First Past the Post (FPTP) voting system, which means plurality wins. In most cases there will be just a yes / no response, so plurality would mean majority in these cases. FPTP is the oldest and most common form of voting system, typically used during direct elections, which is what DeGym's current governance system uses. In direct elections, the concept of quorum also does not apply. Quorum is a concept applicable to deliberative assemblies, or a body filled with representatives that were directly elected to their seats. Therefore there are no quorum considerations. ## Which wallets can vote? All wallets on the DeGym network is able to vote on ongoing proposals. DGYM stored on exchanges cannot be counted in voting. If your DGYM are on an exchange but wish to vote, you could pull the tokens out of an exchange into a wallet and participate in voting. You just need to make sure that the transfer occurs before the vote's snapshot cutoff (see below). ## How are votes counted? A wallet's vote counts 2 components: * Wallet's DGYM balance; * Wallet's staked DGYM balance. If you have 1 DGYM in your wallet, and you have 99 DGYM staked, then your total voting weight is 1 + 99 = 100. ## How to vote? Please follow our step by step tutorial on how to use snapshot.org to vote. ## **How to propose?** Please follow our step by step tutorial on how to use snapshot.org to create proposal. # Proposal Everything you need to know to submit proposals ## DGIP - DeGym Improvement Proposals Before any proposal goes for voting we create improvement proposals which will be stored on the following repository: {% embed url="" %} You can also submit your proposal on our [community discord](https://discord.gg/FtTcGh4q) through the \`#💡\_improvement-proposals \`.
## **Who can create proposals?** Anyone having at least `500,000 $DGYM` tokens may make proposals, but for a proposal to be heard by the council, it needs to reach at least a minimum percentage (to be determined at network launch) of the entire DeGym token supply. All proposals must adhere to the guidelines outlined in this section of the official DeGym Documentation, the latest published template, and must contain direct & objective descriptions. All other proposals will be deleted for housekeeping purposes. ## Template ```markdown # Proposal: [Title of Your Proposal] ## Summary Provide a brief overview of what your proposal aims to achieve. Clearly state the problem you are addressing or the feature you propose implementing. ## Motivation Explain the reason behind this proposal. Describe why this change or feature is essential for the DeGym ecosystem. Highlight any potential benefits or improvements it would bring. ## Proposal Details Go into the details of your proposal: ### Goals Outline the specific goals of your proposal. What do you intend to achieve by implementing this change or feature? ### Implementation Describe the technical details of how you plan to implement this proposal. Include any relevant code changes, architecture considerations, and dependencies. Provide a step-by-step explanation if applicable. ### User Experience Explain how DeGym DAO members and DeGym Protocol users will interact with this proposal. How will it impact their experience? If it's a user-facing feature, consider providing visual mock implementation. ``` # Voting Step by step guide to DeGym governance voting on snapshot.org ### 1. Go to snapshot.org Go to DeGym's space at [snapshot.org](https://snapshot.org/#/degym-dao.eth). ### 2. Connect your wallet Connect your web3 wallet (e.g., Metamask), make sure it's connected to Taraxa's mainnet. Here's a guide on how to [configure Metamask to connect to Taraxa's mainnet](https://docs.taraxa.io/wallet/metamask). Other web3 extensions / wallets should work in very similarly. You'll see a pop-up, select your preferred wallet. Once the wallet has been connected, it will show up on the upper-right corner. ### 3. Select an active proposal to vote on Once you have your wallet connected, you can select from the list of proposals to vote on. Note that only proposals marked "Active" can be voted on. ### 4. Read the proposal carefully and cast your vote Please read each proposal carefully before you cast your vote. Typically each proposal will contain a brief description of the vote, links to more details, and a discussion page in Discord where community members are talking about the issues. Please take the time to visit the requisite reference links and the discussions to make sure you are making an informed decision. ### 5. IMPORTANT: note the snapshot block cutoff To prevent vote manipulations, e.g., moving DGYM from one wallet to another and voting multiple times, snapshot.org takes a snapshot of the Taraxa network at the time the proposal is created, at a specific PBFT block height. This means that votes are counted according to the wallet $DGYM balances & staking balances at that specific snapshot. This is important because if you plan to, say, move your DGYM from an exchange into your wallet so you can participate in the vote, you need to do it before the vote proposal has been posted on snapshot.org. ### 6. Make your decision and vote! Once you've made your decision, you can vote For, Against, or Abstain (same as not voting) for this proposal. ### 7. Make sure your vote went through correctly After you've cast your vote, you should be able to see your vote at the bottom of the page. Please take some time to make sure that all your votes (your wallet balance + your staking balance) are correctly counted. # Terms & Conditions Terms of Service for DeGym DAO Effective Date: 01.09.2024 Welcome to DeGym DAO (“DAO”). By accessing or using our platform, you agree to be bound by these Terms of Service (“Terms”). If you do not agree to these Terms, do not use our services. ### 1. Acceptance of Terms By accessing or using the services provided by the DAO, including participating in the DAO, voting, and any other activities, you agree to be bound by these Terms. These Terms apply to all members, contributors, and any other participants in the DAO. ### 2. Definitions * **DAO**: Decentralized Autonomous Organization operating through smart contracts on the blockchain. * **Member**: Any individual or entity that holds tokens issued by the DAO and participates in its governance and activities. * **Token**: Cryptographic tokens issued by the DAO that grant the holder certain rights within the DAO. * **Smart Contract**: Self-executing contracts with the terms of the agreement directly written into code on the blockchain. ### 3. Eligibility You must be at least 18 years old and capable of forming a legally binding agreement to participate in the DAO. By using our services, you represent and warrant that you meet these requirements. ### 4. Membership and Participation Membership in the DAO is acquired through the holding of DAO tokens. Members can participate in governance, voting, and other activities as defined by the DAO’s smart contracts and governance model. ### 5. Governance The DAO operates through a decentralized governance model. Decisions are made by member votes, which are weighted based on the number of tokens held. The specific processes for proposing, voting on, and implementing decisions are detailed in the DAO’s governance documentation. ### 6. Contributions Members may contribute to the DAO in various ways, including but not limited to, providing services, developing software, or creating content. Contributions are rewarded as per the DAO’s reward mechanisms, which are governed by smart contracts. ### 7. Token Usage and Distribution Tokens are used to represent voting power and can be earned, bought, or distributed as per the DAO’s guidelines. The initial distribution, ongoing issuance, and transfer of tokens are governed by the DAO’s smart contracts. ### 8. Intellectual Property All intellectual property created within the DAO, unless explicitly stated otherwise, is owned by the DAO. Contributors grant the DAO a perpetual, irrevocable, royalty-free license to use, modify, and distribute their contributions. ### 9. Disclaimers The DAO is provided on an “as-is” and “as-available” basis. We make no warranties, expressed or implied, regarding the DAO’s functionality, security, or performance. Participation in the DAO is at your own risk. ### 10. Limitation of Liability To the maximum extent permitted by law, the DAO shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from your participation in the DAO. ### 11. Changes to Terms The DAO reserves the right to modify these Terms at any time. Changes will be effective immediately upon posting. Your continued participation in the DAO after any such changes constitutes your acceptance of the new Terms. # Disclaimer ## No Advice The information on this Site is provided for information only and does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell, or otherwise transact in any investment including any products or services or an invitation, offer or solicitation to engage in any investment activity. The information on this Site is provided solely on the basis that you will make your own investment decisions and DeGym Network does not take account of any investor’s investment objectives, particular needs, or financial situation. In addition, nothing on this Site shall, or is intended to, constitute financial, legal, accounting or tax advice. It is strongly recommended that you seek professional investment advice before making any investment decision. Any investment decision that you make should be based on an assessment of your risks in consultation with your investment adviser. ## Risk Warnings There are significant risks associated with an investment in any products or services provided by DeGym Network. Investment in the products and services is intended only for those investors who can accept the risks associated with such an investment (including the risk of a complete loss of investment) and you should ensure you have fully understood such risks before taking any decision to invest. Past performance does not guarantee future performance and the value of investments can fall as well as rise. No investment strategy is without risk and markets influence investment performance. Investment markets and conditions can change rapidly. Strategies or products can lose money as well as gain. All investors should consider investing only if they can accept the risks associated with investing including a loss of invested capital. No investor should invest without a thorough reading of the risk factors associated with each investment strategy in official documentation provided for each fund or strategy. Investors with questions should additionally seek independent investment advice tailored to their needs, circumstances, and risk tolerances. # NFT Voucher ## Nature and Functionality In DeGym DAO, Vouchers serve as digital certificates that represent membership in various gyms within the network. These Vouchers are unique, secure, and blockchain-based, ensuring that each membership can be easily verified and cannot be duplicated. ## Types and Tiers DeGym Vouchers come in multiple tiers, ranging from Basic to Black, offering different levels of access and benefits. This tier system allows users to choose a membership that best suits their lifestyle and fitness goals. ## Flexibility and Benefits * **Portability:** Vouchers can be used across a wide network of gyms without the need for multiple memberships. * **Upgradeability:** Members can upgrade or downgrade their Vouchers to adjust their access level as their needs change. * **Tradability:** These Vouchers can potentially be traded on various NFT marketplaces, providing liquidity and flexibility to gym memberships. ## Integration with DeGym Platform The Vouchers are integrated into the DeGym platform, allowing for seamless check-ins at gyms, tracking of gym visits, and participation in reward programs. Through these Vouchers, DeGym DAO revolutionizes how individuals access and utilize gym facilities, making fitness more accessible and adapted to digital and mobile lifestyles. # Pricing This document provides a detailed explanation of how the voucher's price calculation work The DeGym NFT-based voucher pricing function is designed to calculate the price of a voucher based on two primary factors: **tier** and **durability**. The pricing model also includes a decay factor, which adjusts the price over time to ensure fairness and incentivize early purchases. The pricing model rewards users who opt for longer durations, offering better value as the duration increases. ## System Parameters The following parameters are internal voucher parameters in the respective of a given ERC20 token determined by the DAO (commercial tokens), which can be changed anytime by voting mechanism: * $$B\_P$$: BASE\_MONTHLY\_PRICE — the base price for a 1-month. * $$M\_P$$: MIN\_PRICE\_FACTOR — The minimum percentage of the base price allowed. * $$D\_R$$: PRICE\_DECAY\_RATE — The rate at which the price decreases as the duration increases. ## **Function** The pricing of a voucher is determined by the following formula: $$ Price=max(B\_P​×(1−D\_R​×(\frac{30}{D}​−1)),M\_P​×B\_P​)×T×\frac{30}{D​} $$ Where: * $$T$$: tier — the tier level of the voucher, which acts as a multiplier. * $$D$$: duration — the duration of the voucher in days. This formula calculates the voucher price by: 1. Adjusting the base price based on the duration. The longer the duration, the more favorable the pricing. 2. Ensuring that the price does not fall below a certain threshold, which is determined by the minimum base price factor. 3. Multiplying by the tier and the normalized duration to arrive at the final price. # Daily Checkin Points Daily Checkin Points (DCP) is a feature of the NFT-voucher system that rewards users for gym attendance and manages access based on NFT tiers. ## Overview * DCP are granted when a customer buys or renews an NFT * Points reset daily * Both NFTs and gyms have tiers (1-99) * DCP are consumed when checking in at a gym ## DCP Calculation The amount of DCP granted daily is calculated as: ``` DCP = 2^(NFT_tier) ``` Where `NFT_tier` ranges from 1 to 99. ## Checkin Rules 1. **Gym Access Limit**: The number of times a user can access the same gym per day is equal to their NFT tier. * Example: Tier 1 NFT allows 1 visit, Tier 2 allows 2 visits, etc. 2. **DCP Consumption**: When checking in, the user consumes DCP based on the gym's tier: ``` DCP_consumed = 2^(gym_tier) ``` 3. **Checkin Requirement**: The user must have enough DCP to cover the gym's requirement. ## Examples 1. User with Tier 3 NFT: * Daily DCP: 2³ = 8 points * Can visit the same gym up to 3 times per day 2. Checking in at a Tier 2 gym: * DCP required: 2² = 4 points * User's remaining DCP after checkin: 8 - 4 = 4 points 3. Attempting to check in at a Tier 7 gym: * DCP required: 2⁷ = 128 points * Checkin fails (insufficient DCP) ## Implementation Considerations * Reset DCP daily at a specific time (e.g., midnight) * Track daily gym visits per user * Implement DCP calculation and consumption logic * Handle edge cases (e.g., insufficient DCP, exceeding daily gym limit) # Search Gyms Finding the right gym has never been easier. The DeGym Search Product offers a powerful and user-friendly way to find gyms that match your preferences. With advanced filtering options, detailed gym listings, and a dynamic map view, locating the perfect gym has never been easier. #### 1. Search Input The search input allows users to quickly find gyms by typing in the name of the gym or location. This feature helps users easily narrow down their options and find gyms that match their specific search criteria. #### 2. Filters The filter section enables users to refine their search results based on various criteria such as membership tiers, activities, amenities, and distance. Here’s a brief explanation of each filter: * **Tier**: Users can filter gyms based on their membership tiers, such as Basic, Silver, Gold, Platinum, Diamond, Black, and Personalized. * **Activities**: Users can choose from a variety of activities offered by the gyms, including Weightlifting, Yoga, Fighting, Dances, Pilates, Cross Training, and Swimming. * **Amenities**: Users can filter gyms based on available amenities like Parking, Showers, Lockers, Snack Bar, and Wi-Fi. * **Distance**: Users can set a radius to find gyms within a specific distance from their current location, ensuring they find gyms that are conveniently located. #### 3. Gym Listings The gym listings display the filtered search results, providing detailed information about each gym. Each listing includes the gym's name, address, distance from the user’s location, and the available membership tiers. This section helps users quickly review and compare different gyms. #### 4. Map View The map view provides a visual representation of the gyms’ locations. This dynamic feature helps users easily locate gyms on the map and see their proximity to their current location. The map view enhances the search experience by providing a clear geographical context. #### 5. Mobile Optimization The search page is optimized for mobile use, ensuring a smooth experience for users on the go. It includes mobile-specific modals for filters and gym listings, making all functionalities accessible on mobile devices. This ensures that users can search for gyms anytime, anywhere. #### How to Get Started 1. **Connect Your Wallet**: Ensure your wallet is connected to the DeGym Network. 2. **Access the Search Page**: Navigate to the search section on the DeGym Network platform. 3. **Search for Gyms**: Use the search input to find gyms based on their name or location. 4. **Apply Filters**: Refine your search results using the filter options to find gyms that meet your specific criteria. 5. **View Gym Details**: Explore the gym listings to get detailed information about each gym, and use the map view to see their locations. # Consumer Journey of the Consumer (Gym-Goers) As a Consumer in the DeGym Network, your journey begins with a simple and seamless onboarding process. You sign up on the DeGym platform and connect your digital wallet. Once connected, you can explore a wide variety of gyms and fitness centers available on the platform. Using the intuitive search and filter options, you can find gyms that meet your specific needs based on location, activities, amenities, and membership tiers. After selecting a gym, you can purchase vouchers for membership or specific activities directly from the platform. These [vouchers](/dapp/nft-voucher) are tokenized, providing flexibility and transparency. When you arrive at the gym, you initiate a check-in process through the DeGym app. This check-in triggers the payment to the gym using your voucher, and the gym then enables you to use their facilities. Throughout your fitness journey, you earn rewards in the form of DGYM tokens for each workout session, which can be used for various benefits within the DeGym ecosystem. **Voucher Purchase** 1. **Selecting a Plan**: Consumers choose a voucher plan based on duration (weekly, monthly, yearly) and tier (Basic to Black), aligning with their fitness goals and budget. 2. **Acquisition**: Vouchers are purchased as NFTs through a crypto wallet like MetaMask, ensuring secure and verifiable transactions. **Using the Voucher** 1. **Accessing Gyms**: With their NFT, consumers can access any participating gym in the network, using their digital wallet for entry. 2. **Flexibility and Upgrades**: Members can upgrade or downgrade their vouchers tier based on their changing needs, directly through the DeGym platform. **Engagement and Rewards** 1. **Activity Tracking**: The platform tracks gym usage and rewards consumers with points or crypto rewards for regular visits, promoting health and fitness. 2. **Feedback and Community**: Members are encouraged to provide feedback on gym facilities and participate in community events and challenges. **Benefits of Becoming a Consumer** 1. **Flexibility and Transparency**: Tokenized vouchers provide flexibility in purchasing and redeeming gym memberships and services. 2. **Earn Rewards**: Earn DGYM tokens for each workout session, turning your fitness efforts into tangible rewards. 3. **Wide Selection**: Access a diverse range of gyms and fitness centers, allowing you to choose the best fit for your needs. 4. **Exclusive Offers**: Gain access to exclusive offers and discounts available only to DeGym Network members. 5. **Seamless Experience**: Enjoy a user-friendly platform that simplifies the process of finding, purchasing, and redeeming gym memberships and services. # Provider Reach a broader audience and increase your gym’s visibility and membership base. As a Provider on the DeGym Network, your journey starts with registering your gym or fitness center on the platform. You create a detailed profile highlighting your facilities, services, and which voucher do your gym accept for check-in. This profile is then accessible to all users on the DeGym platform. {% hint style="info" %} As guarantee you must lock a minimum stake amount of 500,000 DGYM as proof of commitment (subjective to alteration through voting) {% endhint %} Once registered, you can start accepting the configured tokenized vouchers from Consumers. The platform provides tools to manage memberships, track redemptions, and monitor customer engagement. When a Consumer arrives at your gym and initiates a check-in, the payment is automatically processed through their voucher. This triggers the access for the gym-goer to use your facilities. You can also offer exclusive rewards and incentives to attract more members. **Setting Up Check-in Payments** Each gym has the autonomy to set a minimum compensation they wish to receive for each check-in, correlating with the voucher tier they choose to accept. For example: * **Gym A** may choose to only accept Gold tier members or higher, aiming for a premium clientele, thereby setting a higher minimum payment per check-in. * **Gym B** might opt to accept Basic members, thus setting a lower payment threshold, which might attract more frequent check-ins but at lower rates per visit. **Benefits of Becoming a Provider** 1. **Increased Visibility**: Reach a larger audience and attract more members by being part of the DeGym Network. 2. **Efficient Management**: Use the platform’s tools to efficiently manage memberships, track redemptions, and monitor customer engagement. 3. **Secure Transactions**: Benefit from the security and transparency provided by blockchain technology in all transactions. 4. **Additional Revenue Streams**: Offer exclusive rewards and incentives to attract more members and increase your revenue. 5. **Community Engagement**: Engage with a vibrant community of fitness enthusiasts and provide them with unique experiences and offers. This model not only incentivizes gyms to maintain high standards to attract and retain members but also fosters a competitive environment where facilities are rewarded based on the value they provide to the community. # Check-in Detailed Check-in Process Using Smart Contracts The check-in process in DeGym leverages a robust smart contract system designed to handle interactions securely and efficiently: 1. **Consumer Check-in Initiation**: * **Action**: The consumer arrives at the gym and opens the DeGym DApp. * **Process**: The consumer selects the check-in option which triggers the app to interact with the smart contract on the blockchain. 2. **Smart Contract Activation**: * **Validation**: The smart contract first verifies the authenticity and validity of the consumer's NFT voucher for the current day. * **Simultaneous Validation**: The gym’s commitment is verified by checking the staked amount in the blockchain to ensure the gym's eligibility to receive payments. 3. **Conditions Verification**: * **Membership Tier**: Checks if the consumer's voucher tier corresponds to the gym's accepted tiers. * **Gym Compatibility**: Ensures that the gym is part of the network and ready to accept check-ins from the consumer’s voucher tier. 4. **Transaction and Check-in Execution**: * **Payment Transaction**: If all conditions are met, the smart contract facilitates the transfer of funds from the consumer's wallet to the gym's account. * **Usage Log**: The smart contract records the use of the voucher for that day, decrementing the available days or sessions from the NFT. 5. **Confirmation and Receipt**: * **To Consumer**: The consumer receives a digital receipt and confirmation on their app that the check-in was successful and payment has been made. * **To Gym**: The gym receives confirmation that the funds have been transferred to their account and the consumer’s entry is authorized. 6. **Error Handling**: * **Insufficient Funds**: If the consumer’s wallet has insufficient funds, the transaction is aborted, and an error is reported. * **Invalid Membership**: If the NFT is not valid for the day or tier, the check-in is denied. 7. **Post-Check-in Actions**: * **Feedback Request**: The consumer is prompted to rate their experience, providing valuable feedback to the gym. * **Usage Analytics**: The gym receives data about the frequency of visits, which helps in planning and resource allocation. {% @mermaid/diagram content="%%{init: {'theme': ''}}%% sequenceDiagram participant U as Consumer participant App as DeGym App participant SC as Smart Contract participant B as BlockDAG/Blockchain participant G as Gym ``` U->>App: Initiate Check-in App->>SC: Trigger Smart Contract SC->>B: Validate Consumer NFT voucher & Gym Stake B-->>SC: Confirmation of Validity SC->>SC: Check Membership Tier & Gym Compatibility SC->>G: Transfer Payment (if valid) G-->>SC: Confirm Receipt SC-->>App: Log Usage & Confirm Check-in App-->>U: Display Confirmation & Request Feedback G->>B: Update Visit Data ``` " %} # Staking Here, you can easily stake new tokens, monitor your current stakes, and claim rewards The DeGym Staking Product is designed to provide a seamless experience for users looking to stake their DGYM tokens, earn rewards, and manage their staking pools. #### Key Features 1. **Dashboard Panel** 2. **Staking Actions** 3. **Stake Pools** 4. **Latest Swap Events Modal** #### 1. Dashboard Panel The Dashboard Panel offers a comprehensive overview of your staking activities and key metrics, including: * **Total Staked DGYM**: The total amount of DGYM tokens you have staked. * **Total Rewards Earned**: The total rewards you have earned from staking. * **Available Balance**: Your available DGYM balance that can be staked. #### 2. Staking Actions The Staking Actions section allows you to perform various staking-related operations, including staking new tokens, unstaking, and claiming rewards. Here's how each action works: **a. Staking DGYM Tokens** To stake your DGYM tokens: 1. **Enter Amount**: Specify the amount of DGYM you want to stake. 2. **Select Duration**: Choose the lock duration for your stake. 3. **Choose Interest Type**: Select whether you want simple or compound interest on your staked tokens. 4. **Stake**: Click the "Stake" button to initiate the staking process. **b. Unstaking DGYM Tokens** To unstake your DGYM tokens: 1. **Select Stake Pool**: Choose the stake pool you want to unstake from. 2. **Unstake**: Click the "Unstake" button to withdraw your staked tokens after the lock period ends. **c. Claiming Rewards** To claim your earned rewards: 1. **Select Stake Pool**: Choose the stake pool you want to claim rewards from. 2. **Claim**: Click the "Claim" button to receive your rewards. #### 3. Stake Pools The Stake Pools section displays all your current and past staking pools, providing detailed information about each pool, including: * **Amount Staked**: The amount of DGYM tokens staked in the pool. * **Rewards Earned**: The rewards earned from the stake pool. * **Interest Type**: The type of interest (Simple or Compound). * **Created Date**: The date when the stake pool was created. * **End Date**: The date when the stake pool will end. * **Status**: The current status of the stake pool (e.g., live, finished). #### 4. Latest Swap Events Modal The Latest Swap Events Modal provides a detailed view of the latest swap events within the network. This feature allows you to stay updated on the latest activities and transactions. Here's how to access and use this feature: **a. Opening the Modal** 1. **Click Button**: Click the "Latest Swap Events" button on the Staking Page to open the modal. **b. Using the Modal** 1. **Toggle Events**: Use the toggle switch to filter events by your address or view all events. 2. **Scroll Through Events**: Browse through the list of recent events, each showing the address, amount, and a link to view the transaction on the explorer. 3. **Close Modal**: Click the "Close" button to exit the modal. #### How to Get Started 1. **Connect Your Wallet**: Ensure your wallet is connected to the Taraxa Network. 2. **Acquire DGYM Tokens**: Obtain DGYM tokens through participating exchanges or platforms. 3. **Access the Staking Page**: Navigate to the staking page on the DeGym DApp platform. 4. **Start Staking**: Use the Staking Actions section to stake your DGYM tokens and begin earning rewards. The DeGym Staking Page provides a user-friendly and efficient way to manage your staking activities. Whether you're staking new tokens, monitoring your current stakes, or claiming rewards, our interface is designed to make the process as smooth as possible. Join us in revolutionizing the fitness and finance industries through decentralized staking! # Staker Stakers in DeGym DAO contribute by locking their DGYM tokens into the system. This staking not only supports the stability and security of the platform but also entitles stakers to various benefits. **Staking Benefits** 1. **Revenue Sharing**: Stakers receive a portion of the fees collected from gym check-ins, particularly from days when users do not visit the gym. This creates a passive income stream based on the activity within the ecosystem. 2. **Governance Participation**: Stakers gain voting rights, allowing them to influence major decisions within DeGym DAO, including protocol updates and usage of community funds. 3. **Staking Rewards**: Additional rewards might be distributed to stakers based on the duration and amount of their stake, encouraging long-term holding and stability in the network. **Staking Process** 1. **Token Purchase**: Buy DGYM tokens through supported exchanges. 2. **Lock Tokens**: Commit your tokens to the DeGym DAO staking contract. 3. **Manage Stake**: Monitor and manage your stake through the DeGym platform, with options to add or withdraw after certain periods as per the terms of the smart contract. **Risk Management** While staking provides an opportunity for rewards, it also comes with risks such as price volatility and locking periods. Stakers should consider their risk tolerance and investment horizon before committing funds. This structured approach provides a comprehensive journey for stakers, ensuring they are rewarded for their investment and participation in the DeGym DAO ecosystem. * **Reward System**: How rewards are calculated based on user activity and inactivity. # Reward This document provides an overview of how rewarding mechanism work The reward programs for DGYM in DeGym are designed to incentivize and reward stakeholders based on their participation and commitment to the platform. The DGYM rewards are influenced by the amount staked and the duration of the stake. ## Rewarding DGYM ### Inflow Inflows of DGYM are generated through [inflation](/dao/dgym-tokenomics/inflation). ### Distribution Distributions are triggered at every period where DGYM is inflated. The distribution weight is calculated based on the amount staked and the locked time. To address the concern of extremely long lock times distorting the reward distribution, we can modify the time weight calculation using a logarithmic function. This approach ensures that the weight increases with time but at a diminishing rate, preventing excessively long lock durations from overwhelming the distribution. #### Bond Weight Calculation We will use the following formula to calculate the weight for **each bond**: $$ w\_i​=a\_i​×log(\Delta T\_i ​+ 1) $$ Where: * $$a\_i$$ is the DGYM amount locked by **bond** $$i$$. * $$\Delta T\_i$$ is the remaining time locked by **bond** $$i$$ (in days). * $$w\_i$$ is the amount locked by **bond** $$i$$. #### Total Weight Calculation The total weight for all staking bonds remains the same: $$ W= \sum\_{j=1}^{n}​w\_j $$ #### Distributed Reward The reward for **each bond** can be calculated as follows: $$ r\_i​=\frac{w\_i}{W}​​×R $$ Where: * $$R$$ is the total reward (generated from inflation). ### Outflow After distribution, stakeholders can claim their DGYM rewards from all bonds not set as auto compound. {% @mermaid/diagram content="%%{init: {'theme': 'forest'}}%% graph TB A\[Inflation Generates DGYM] --> B\[Distribution Triggered] B --> C\[Calculate Distribution Weight] C --> D\[Amount Staked] C --> E\[Locked Time] D & E --> F\[Distribute DGYM] F --> G\[Claim DGYM Not Set to Auto Compound]" %} ## Detailed Steps 1. **Stake DGYM**: Users stake their DGYM tokens. 2. **Set Lock Duration**: Users set the duration for which their DGYM will be locked. 3. **Calculate DGYM Reward**: The reward in DGYM is calculated based on the stake amount and lock duration. 4. **Distribute DGYM Reward**: The calculated DGYM reward is distributed to the stakeholders. # Smart Contracts Under development GitHub is a vital platform for software development, serving as a central hub where developers and teams collaborate on code. It's the foundation of open-source projects worldwide, including the DeGym project. On GitHub, you'll find the actual codebase of DeGym's smart contracts, witnessing the ongoing development and evolution of our DApp. {% embed url="" %} # Whitepaper # Community Join Us At the heart of DeGym Network is our vibrant community. We are more than just a platform; we are a movement. Our community is composed of fitness enthusiasts, gym owners, and investors who believe in the power of decentralization and the potential of public distributed ledger technology to create positive change. {% embed url="" %} {% embed url="" %} {% embed url="" %} {% embed url="" %} Blog: coming soon Medium: coming soon Snapshot: coming soon # FAQ Frequently Asked Questions ## **Is DeGym Available globally?** Yes, DeGym is available to users worldwide. As long as you have access to the internet and a compatible device, you can join and participate in DeGym.