Vote 68 set aside 300,000 MVT by the community for use in a rewards program in September 2020. GLR then got to work assembling a team and designing the ecosystem. Once the contract and foundations were complete, the DAO released the funds and deposited them into the ACRE Contract on April 9, 2021.
With funding and testing complete, we would like to offer proudly to the community the ACRE Smart Contract. This novel smart contract rewards users in multiple ways while ensuring a price floor of the ecosystem continues to rise, benefiting all involved. We encourage the community to participate as we are passionate and have no plans to stop.
What is the ACRE smart contract?
@CryptoDevPines developed ACRE in association with the GLR Team to build the foundation of a sustainable physical ecosystem that benefits surrounding communities, token holders, and the DAO. We call this system the DAO Controlled Land Trust. GLR uses funds generated from the ACRE smart contract to purchase property for this first-of-its-kind land preservation and conservation system.
Purchasing ACRE Tokens
Purchasing ACRE tokens starts a journey in the ACRE contract. Holding ACRE allows users to either earn from dividends paid into the contract by GLR or convert their ACRE tokens into an NFT called TOTEM that earns from the contracts “honeypot” indefinitely.
What is the TOTEM NFT?
TOTEM reflects the ACRE token’s weight at the time of creation. This weight earns you a percentage of the daily payout of the ACRE contract. To create a TOTEM, the user locks 1 MDT and their ACRE tokens into the NFT.
What is the relationship between MDT and TOTEM?
Currently, there are 677,433.38 MDT which means there is a limit of TOTEM that are possible. This approach adds to the scarcity of both assets.
What is the price floor of the ACRE contract?
At launch, the price floor that the contract will purchase MVT is 0.00005 ETH. After 90 days, that price floor will 5x, meaning the contract will start buying MVT at 0.00025 ETH. This price floor will rise in the ACRE contract every 300 days.
0.00075 ETH: February 4, 2022
0.00225 ETH: December 6, 2022
0.0067 ETH: September 27, 2023