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Proposal for a Blockchain with Subnets: Ganymede (Fort Knox) and Leda (Bank) Chains

This proposal outlines the creation of a blockchain featuring two subnets: a Proof of Work (PoW) chain known as the Fort Knox chain, and a Proof of Stake (PoS) chain referred to as the Bank chain. Each chain operates with separate consensus mechanisms and unique token allocations.

The Ganymede (Fort Knox chain), designed as a store of value, will consist of 30 million tokens. Of this supply, 20 million tokens will be reserved for miners, who will obtain them through mining operations. The consensus for this chain will be derived from node operators. The remaining 10 million tokens will be premined specifically for “eclipse” events.

The Leda (Bank) chain will operate using a delegated PoS consensus mechanism, with validators and delegators playing integral roles. This chain will have a total token supply of 200 million. Out of this supply, 80 million tokens will be allocated for staking, incentivizing participants to contribute to the network’s security. Additionally, 10 million tokens will be set aside for rewarding validators who exhibit exemplary behavior over a one-year period. Furthermore, a diversity bonus of 10 million tokens will be available for delegators who stake with more than one validator, encouraging a distributed staking ecosystem.

To foster the growth and development of the ecosystem, 50 million tokens will be allocated for an airdrop, while 40 million tokens will be dedicated to a Decentralized Autonomous Organization (DAO). The DAO will be responsible for ecosystem development, marketing initiatives, hack insurance, acquisitions, and the monetization of services and products. By diversifying revenue streams, the DAO will reduce reliance on token distribution as the sole funding mechanism.

In addition, 5 million tokens will be allocated for bonds, offering investors the opportunity to purchase tokens at discounted prices. These tokens will be distributed upon the maturity of the bonds, which will have durations of 1, 2, and 5 years. Investors can select their desired maturity date and invest accordingly.

The founding team members will receive 5 million tokens, acknowledging their contributions to the project’s inception and ensuring their continued commitment.

The Ganymede (Fort Knox) chain will undergo halving events every 4 years. The Ganymede (Fort Knox) chain will mimic the halving mechanism employed by Bitcoin, reducing miner rewards by 50%.

A notable feature of this proposal is the implementation of the Eclipse event. This event will occur twice a year, metaphorically representing solar and lunar eclipses. It involves a 10-to-1 conversion of PoS tokens to PoW tokens facilitated by the Eclipse bridge. To utilize the bridge, participants must be annual holders, meaning they have held the tokens for a year or longer. Eligible participants will receive a certificate of deposit (NFT) as proof of eligibility. During the conversion, 9 out of 10 tokens will be burned, and the bridge will only support conversion from PoS to PoW tokens. The Eclipse events will continue until all 10 million premined PoW tokens have been released over a span of ten years, with 1 million tokens distributed annually (500,000 per eclipse). This approach will create scarcity, necessitating timely action from participants to leverage the bridge. The primary objective of this event is to reward small token holders by providing them with a BTC-like token. It enables accumulation of the smaller PoS token and the potential for significant value appreciation, akin to accumulating Satoshis to obtain a whole Bitcoin within a short period.

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