# GBET Token

<div align="left"><img src="/files/OUMLKVeqChMCoA8xKeQX" alt="The $GBET Token"></div>

GangstaBet Token ($GBET) is the native utility token of GangstaBet that is based on the IRC-2 standard of the ICON Network which is similar to ERC20 in Ethereum. $GBET has utilities that will be burned (used) while changing the name of the owned NFT, upgrading skills, and creating the stories for your Gangstabet NFTs (new update released).&#x20;

Gangstabet owners earn $GBET on a daily basis till 2030 by just holding the NFT.

### Supply

The $GBET is only supplied to the participants in two ways.

1. Through initial distribution during the GangstaBet NFT mint.
2. Through daily distribution to the NFT holders.

No $GBET except those that are pre-minted will be produced through any process, but $GBET can be exchanged with bnUSD through [balancedDEX](https://app.balanced.network/). This ensures that the value of $GBET is determined by the market and not controlled by the creators.


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