The Green Standard Token (GST) follows the Green Standard monetary system calculation for the valuation and issuance of GST.
GST is a similar concept to the gold standard, but instead of currency being backed by gold, GST is backed by the value of DAO-held (nature-owned) land rather than government held (state-owned) gold. Another difference being that land values are dictated by the free-market rather than centralised banks or governments as was often the case with different versions of the previous gold standard systems.
GST is a governance token backed by the value of protected land. Tokens do not represent individual parcels of land and are 100% fungible.
GST DAO Constitution – Minting process:
“The cost per token when minting GST must equate to the total appraised value of DAO Land, prior to minting, divided by the number of GST in circulation. This is the green standard monetary system calculation which must be followed in perpetuity.”
Below is an example calculation of the Green Standard calculation:
Total Land Equity $100m ÷ Total Number of Tokens 100m = Value Per Token $1
*More details under Tokenomics.
Next is the DAO (Decentralised Autonomous Organisation) part, a new type of democratised system of governance made possible by blockchain technology. DAOs have the potential to change our world for the better and form the basis for the ownership economy to take shape where everyone and anyone can have a stake in the economy and how it operates.
DAOs tend to:
- Share a common purpose;
- Be member governed; and
- Are operationally transparent.
This new type of model enables organisations to be created with aligned incentives towards a common goal that is not necessarily to “maximise profit”, but instead can be to “restore the natural world” for example.
*More under Legal Overview and DAO Operations.