The Coop Network PriceGMDInactive

What is The Coop Network (GMD)?

The Coop Network (GMD) is a blockchain-based ecosystem built to promote cooperation and collaboration among its members. It leverages decentralized technology to deliver secure transactions and supports the creation of new coins, with a strong emphasis on community and collective growth. Described as a blockchain that fits the form and functionality needs of communities, The Coop Network creates a shared economy for its members and is distinguished by its commitment to fostering that shared economy.

GMD is the native utility coin of the network and is based on a Proof of Stake (PoS) model. The network positions the coin as the heart of its blockchain technology, offering multiple utilities such as voting rights and staking power. The project’s whitepaper outlines a business model known as the GEOMA DAO COOP, which relies on blockchain technology to support its community-driven vision.

In terms of supply, The Coop Network has a maximum supply of 1,000,000,000 GMD. Total supply is reported at approximately 563.89 million GMD, while circulating supply stands at roughly 212.89 million GMD. The project launched its cryptocurrency in 2021, following the founding of the COOP Network in September 2020, and continues to develop its ecosystem around staking, governance, and community-focused investment opportunities.

Key Specifications & Tokenomics

• Name: The Coop Network
• Ticker / Symbol: GMD
• Consensus Mechanism: Proof of Stake (PoS)
• Category: DeFi, DAO
• Max Supply: 1,000,000,000 GMD
• Total Supply: 563.89M GMD
• Circulating Supply: 212.89M GMD
• Self-Reported Supply: 400,000,000 GMD
• Launch Year: 2021
• Official Website: https://thecoopnetwork.io
• Whitepaper: https://thecoopnetwork.io/whitepaper
• Block Explorer: https://explorer.thecoopnetwork.io/
• CertiK Rating: 3.1

GMD functions as a utility coin with staking power and voting rights. The network’s tokenomics reflect a long-term distribution model, with circulating supply representing a portion of the maximum supply. The project also reports a self-reported supply figure of 400 million GMD, which differs from third-party tracker data.

Who created The Coop Network?

The COOP Network was launched in September 2020 by five founding members. Since then, more than twenty new members have joined the platform, according to available information. The project’s LinkedIn company page lists several individuals associated with the network, including Alexandru Stoica, Florin-Eduard Vlad, and Miracle Joseph, along with The Coop Network Co-op account.

Detailed public information about the core development team, advisors, or organizational structure beyond these references is currently limited. The project emphasizes democratic member control and cooperative principles, which suggests a community-driven governance approach rather than a traditional corporate hierarchy. The founding members and later joiners appear to be active in the network’s growth and operations.

How does The Coop Network work?

The Coop Network operates on a Proof of Stake (PoS) consensus mechanism. In this model, validators must hold and stake the network’s cryptocurrency to participate in the consensus process, which validates transactions and secures the network. This method incentivizes honest participation and aligns with the network’s cooperative values.

Users can stake their GMD coins by exchanging them for STK and holding it, as described in a LinkedIn article from February 2022. The network also supports voting rights, allowing members to participate in governance decisions and have a say in the network’s direction. The Coop Network is designed to be a blockchain that fits the needs of communities, enabling secure transactions and the ability to create new coins.

Additionally, the network provides the Coop Wallet, a platform for managing digital assets and accessing exclusive investment opportunities, particularly in local businesses. This structure supports the network’s goal of building a shared economy and encouraging economic participation among members.

What makes The Coop Network unique and valuable?

The Coop Network distinguishes itself through its cooperative philosophy and community-centric design. It follows seven main principles and values: voluntary and open membership, democratic member control, members’ economic participation, autonomy and independence, education, training and information, cooperation among cooperatives, and concern for community. These principles guide the network’s development and governance.

The project’s focus on creating a shared economy for its members sets it apart from many other blockchain initiatives. By offering staking and voting rights, The Coop Network empowers members to actively shape the network’s future. The Coop Wallet further adds value by serving as a gateway to local business investment opportunities, aligning with the goal of supporting community development.

Furthermore, the network’s commitment to education and information reflects its aim to enrich members’ understanding of blockchain technology and its potential for societal impact. The GEOMA DAO COOP business model, launched per the whitepaper, reinforces this unique approach by combining decentralized technology with cooperative economic principles.

What is The Coop Network used for?

GMD serves multiple purposes within The Coop Network ecosystem. As a utility coin, it grants holders voting rights and staking power, enabling participation in governance and network security. Users can stake GMD by exchanging it for STK, contributing to the Proof of Stake consensus process while potentially earning rewards.

The coin is also used within the Coop Wallet, a platform for managing digital assets and accessing exclusive investment opportunities, particularly in local businesses. This use case supports the network’s broader goal of fostering community development and economic participation. Additionally, The Coop Network allows for the creation of new coins, expanding the utility of the ecosystem beyond GMD itself.

GMD can be converted into various fiat currencies, with conversion pairs available for AUD, BRL, CAD, EUR, GBP, HKD, RUB, SGD, TWD, and KRW. Trading pairs such as GMD/USD and GMD/EUR are also referenced across data sources. The coin’s utility is thus tied to governance, staking, investment, and transactional use within the network.

How Is the The Coop Network ecosystem developing?

The Coop Network ecosystem is developing around several core components. The Coop Wallet provides a platform for managing digital assets and accessing investment opportunities in local businesses, aligning with the network’s community-focused mission. The GEOMA DAO COOP business model, launched according to the whitepaper, relies on blockchain technology to support cooperative economic activities.

Staking is a key part of the ecosystem, with users able to exchange GMD for STK and hold it to participate in the Proof of Stake protocol. The network also emphasizes education, training, and information as part of its seven principles, suggesting ongoing efforts to grow its ecosystem and enrich members’ understanding of blockchain technology.

The project has been referenced across multiple data sources, including CoinMarketCap, Crypto.com, Coinbase, Yahoo Finance, and others. It trades on a limited number of active markets, and its market capitalization has been reported at approximately $54,000. The ecosystem continues to evolve with a focus on community development, governance, and cooperative values.

How to mine The Coop Network?

The Coop Network does not use traditional mining. Instead, it relies on a Proof of Stake (PoS) consensus mechanism, where validators hold and stake the network’s cryptocurrency to participate in transaction validation and network security. This approach incentivizes honest participation and is more energy-efficient than Proof of Work mining.

To participate in staking, users can exchange their GMD coins for STK and hold it, as described in a LinkedIn article titled “Staking GMD on The Coop Network” published on February 1, 2022. By staking GMD, members contribute to the network’s security and consensus process. The network’s structure also allows for voting rights, giving stakers a say in governance decisions.

There is no public information indicating that GMD can be mined through computational hardware. The project’s focus is on staking and community participation rather than mining. Those interested in supporting the network should explore the staking mechanics available through the official platform.

How to keep your The Coop Network Coin safe?

Keeping GMD safe begins with using secure connections when accessing The Coop Network and its associated platforms. The network emphasizes secure transactions and reliability, and members should follow best practices for protecting their digital assets. This includes using strong, unique passwords and enabling any available two-factor authentication on accounts tied to the ecosystem.

The Coop Wallet is the primary platform for managing GMD and other digital assets within the network. Users should ensure they are accessing official websites and avoiding phishing attempts. Storing coins in the Coop Wallet allows for participation in staking and investment opportunities, but users should remain vigilant about the security of their credentials and devices.

As with any cryptocurrency, it is advisable to keep private keys and seed phrases confidential and backed up securely. Given that The Coop Network operates on a Proof of Stake model, staking GMD involves exchanging it for STK, and users should understand the mechanics before committing their coins. Staying informed through official channels and the network’s educational resources can help members protect their assets and participate safely.