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Goodomy Dollars and the New Goodomy Token

May 03

With the release of version 3 of the Goodomy app, we're changing the way you use Goodomy dollars and tokens.

As an early adopter bonus, your current Goodomy dollar balance will be transformed into tokens on the new Goodomy network. This means that if you have 1,000,000 in Goodomy dollars, you will receive  25,000 in new GOOD tokens.

Everyone's balance will be converted at the same rate. We currently have about 52M Goodomy dollars in the system. This will become approximately 1,300,000 in new GOOD tokens and represent about 5% of the new supply of 22.2 million GOOD.

This also means that every Goodomy dollar will have a home on the new Goodomy blockchain, publicly viewable and auditable.

The new blockchain will allow P2P value transfers in under 1 second, which is one of our must-haves. That is currently not possible on Ethereum and is the primary motivation for switching to the new network and blockchain.

Additionally, you will be able to send Goodomy tokens to your OTOL wallet (once it becomes live) and have your GOOD converted into OTOL from the app in less than a second, on the blockchain. You will also be able to convert your OTOL into GOOD.