Gourmet Galaxy: DeFi Ecosystem Galaxy Combining NFTs, Yield Farming, and Gamification
Judy_Host of EncryptClub: The absence of market hotspots decrease our confidence significantly these days. While the mainstream market begins to hover, secondary mainstream market starts correction, too. Many friends who had experienced the major bull run in 2017 told me that they had commenced on selling short. However, the current market is different from the unilaterally upward market in mid and late-2017, and we should do our best to develop the ability to find out hotspots in different markets. As NFT projects make brilliant performance recently, today we will hold AMA with Gourmet Galaxy to get crypto OGs opinions on NFT projects.
Today, we are honored to have Gourmet Galaxy CEO Thomas Johnson and CMO Kunchok Tsomo with us, to introduce Gourmet Galaxy in details.
Thanks for coming, Thomas and Kunchok, could you introduce yourself to EncryptClub community?
Kunchok: My name is Kunchok Tsomo, I am the CMO of Gourmet Galaxy.I am already 30 years old and Gourmet is a project I devote a lot to to the community.To come to this achievement, Kayra and I spend almost exclusively on the project.
The biggest thanks goes to Thomas. He mostly slept with the project. I was involved in peer-to-peer technology, before entering the blockchain industry I worked for Binance Labs and Microsoft. Then at the beginning of 2020, we became interested in blockchain technology and especially NFTs,and we found combining it with the User-Generated Content made by GUM players would be the perfect match. I think I’m a fan of projects in Defi space.
Hello guys, I am Thomas Johnson, CEO of Gourmet Galaxy. This is Kunchok Tsomo, our CMO. Its really a pleasure for us to be here with you guys today!
So I started in Crypto since 2014, the first time Bitcoin was called a bubble. A friend of mine told me about Bitcoin and how it would be an excellent investment opportunity. So I threw in about $3,000 and got myself 5 BTC at the time. That’s when BTC price is more than 600$. I didn’t sell when it goes to $1000/BTC, because I want to see how much it can climb.
Well after that, the price drop to 200$, and my friend tell me that don’t worry, keep hodling. I then ask myself, what is so special about Bitcoin, that many people so excited about it, and they keep on believing the idea no matter what?
Thats, when I start my research about Blockchain, and get hook up. Just like that, I became a Blockchain Enthusiastic. I believe in this industry’s future and how it will change people’s lives just like the Internet did. I was working for Coindesk as an analyst since then (beside of invest in projects myself).
And in mid 2020, i start Gourmet Galaxy, and here we are!
Thanks for your introduction, Thomas and Kunchok. Here comes the question of our AMA.
Q1: Could you give us an introduction of Gourmet Galaxy?
So about Gourmet Galaxy, me and Kayra (our CTO) both had the same idea about DeFi since 2018. In our opinions, DeFi must be used to help people life become better, that means we aim for adoption. But adoption always a problem with Blockchain industry. The complicated UX/UI, plus traditional media always post news about how risky cryptocurrencies is keeping people away from Blockchain investing.
In 2020, with the new DeFi wave rising up, DeFi projects did a great job of getting new investors into the industry. But they still have 2 major problems:
+ Incentives token of yield farming projects have no intrinsic value. They faced inflation so it will decrease in term of price overtime.
+ Their products still having a complicated user experience. Unless you are a normal investor who bought DeFi token so you can sell later, you will have a hard time figure out how to use Yield Farming to get profit.
And that’s where Gourmet Galaxy come into action. Gourmet Galaxy is a DeFi Ecosystem, with a gamified layout/experience and NFTs based token that have intrinsic value and de-flation system.
Q2：Could you compare Gourmet Galaxy with other projects? For example, what is the comparative advantage of Gourmet Galaxy over NFT and farming projects like AXS and Sushi?
Gourmet Galaxy is unique, and its a combination between a NFT game and a DeFi Ecosystem, so we cant really compare GUM to AXS or SUSHI.
But if I must do the compare, it will be like this:
AXS is a NFT game, with incentives for players. Their users are mostly gamer. But Gourmet Galaxy is not just a game. Its a DeFi Ecosystem, I will explain more later.
SUSHI is a liquid DEX, with SUSHI Swap act as DEX and people who provide liquidity get SUSHI and tokens back. But SUSHI are inflating token with no max cap, and also to provide liquidity and get yield back on their platform, you must have knowledge about Blockchain in general, so it will be hard to scale for the masses.
On the other hand, Gourmet Galaxy is a DeFi Ecosystem under gaming surface. We have 3 main products: GUM Swap, Galaxy Market and NFTs Universe.
GUM Swap will act as a liquidity DEX just like SUSHI Swap, where you can Swap Tokens. Also, underneath that, we have “GUM Farm”, where you can provide liquidity in exchange for GUM tokens.
These GUM tokens are not useless like other incentives tokens. Besides of governance use and such, GUM will be used in Galaxy Market to purchase FOOD, our NFT token. From FOOD, you can create PLANET, and use PLANET to host games on NFTs Universe.
If you confuse about NFTs Universe at this point, remember that its not a single game. Inside NFTs Universe there will be several game that you can play to earn GUM. One of them is Option X, a Bitcoin Option Trading game build will be out in April. What special about Option X, is that Option X is built on DEX that use AMM to match players order. So actually, NFT Universe is consist of many small games, but those games are actually DeFi products. From Trading, Lending, Borrowing and even lottery in the future.
Q3：Could you reveal Gourmet Galaxy’s further development plan? What miracles will be made in the galaxy?
About our development plan, you can always check our roadmap https://gourmetgalaxy.io/. In near future, our priority is to roll out MVP and specially our first game (current in Beta mode) in Apirl. After that, there will be a special feature called “The Vault” coming in June. Its a nice add to our ecosystem, that allow lending/borrowing services within our platform.
Q4：What is your opinion about the current small bull run? Will the market fever continue? Will Gourmet Galaxy become a hot spot in the near future?
One thing that I had to say: Bulls always rallies once in a while. I been here through Major bull run such as 2017 bull run, or small bun rull like in 2019–2020. One thing that I have to say is that, this one is really different from all of those. This bull run made of Institutional money mostly, not by retail traders/investors. So exactly we cant predict if the market fever continue or not. But I know that this bull run is far from over, specially for Altcoins.
But bullrun or not, we are here to stay. Keeping early investors from getting REKT is one of our priority when I design our tokenomics, but its not our main focus. I believe that if we keep our head down and building, improving our product, we can attract more people to come and try our platform. And with more people to join the platform, the more our ecosystem will grown, no matter if the market fever continue or not.
And you asking me about Gourmet Galaxy become a hot spot in the near future? It already is, but we are trying our best to keep it hotter everyday. Watch close to our Announcement channel, new partnership coming soon ;)
Q5：Compared with single function projects, Gourmet Galaxy is comprehensive and therefore a bit more complicated. Could you tell users and players how to make the first step to enter into Gourmet Galaxy?
I think Gourmet Galaxy is only complicated in term of explaination. But if you want to make the first step to enter into Gourmet Galaxy, you should really try to use GUM Swap to buy GUM, and use those GUM to play games in NFTs Universe. Its gonna be easy!
Judy：Here comes free QA session, guests can choose 1 lucky question to give a brief reply.
User1: Your website is gorgeous。 It states Gourmet Galaxy is the first project combining NFTs, Yield Farming and Gamification. I want to know why you name it Gourmet and Galaxy?
Thomas: thank you, i choose Gourmet because our team are made of 100% Foodaholics! Seriously we came from both of West and Eastern part of the world, but we all share the love for food. To us, good food connect people together. So we choose Gourmet for our theme.
As Galaxy, we pick it because we truly aim to become a Galaxy of Defi, a whole ecosystem haha
User2: As you said, mass adoption is always a problem for DeFi projects, so how will you solve this problem?
Kunchok: we will use our Games as a way to deal with this problem. They will give people better UX. And when our users have enough profit, they will start to drag people into it!
Judy_Host of EncryptClub: Thanks Thomas and Kunchok for joining our AMA and sharing so much valuable information with us. Thank you all for watching this AMA. EncryptClub will work hard and bring more wonderful content for you in future.