GoMeat $GOMT

GoMeat is a revolutionary project designed to bring transparency, traceability, and convenience to the global halal and kosher market, estimated to be worth $1.8 trillion. This blockchain-based online ordering and delivery service has been in operation since 2019 and is currently serving customers across 26 states in the United States. The project has successfully processed over 10,000+ orders, thereby generating a gross volume of $320K+ in 2021. Their utility token, GOMT, offers significant value to all stakeholders including customers, stores, and token holders.

Deflationary Tokenomics of GoMeat

The GoMeat project has a well-thought-out token burning mechanism in place, which ensures an increase in token value with each burn. 4% of the 2022 revenue is being burnt on a monthly basis, with a plan to burn 5% of the 2023 revenue quarterly. Once the project hits $3 million in gross volume, a further 3% of GoMeat revenue will be burnt every quarter. Additionally, 3% is burnt for every order placed using GOMT. The specifics of the burning rate from 2024 onwards will be decided later but will be communicated transparently with the community through quarterly financial reports.

Functions of the GoMeat Blockchain

GoMeat utilizes the Hydra chain platform for its blockchain application. It has a limited supply of 5 million GOMT tokens, with 1.9 million GOMT currently in circulation. The GoMeat blockchain application offers a range of functions including certificate information collection, retail owner information storage, certification validation, certification renewal validation, and more. It also provides a secure connection to certificate data repository providers and creates a blockchain API to connect with the GoMeat marketplace for customer viewing.

Features of GoMeat

GoMeat aims to address the inefficiencies, fraud, and risk prevalent in the conventional specialty certification model. It does this through features such as digital specialty meat certifications, integration with specialty certification authorities, and notifications for stores and certification authorities when a certificate is near expiration. The platform also ensures full transparency about a store's certification status for customers and documents every step of the specialty meat supply chain on the blockchain to provide full transparency and visibility.