GMC is migrating to the BSC with an increased supply of 5 Billion from 50 Million & all GMC holders received 100x GMC - Congrats! 💰
October 30, 2021 - GokuMarket is expanding the ecosystem exponentially from a single & centralized E-commerce & Trading platform to multiple Centralized & Decentralized platforms as part of the ongoing and upcoming geographical & regulatory partnerships. The GMC migration to the Binance Smart Chain (BSC) and the increase of the liquidity are required in order to support the GMC community demand, funding, and acquisitions of various partners with a revised total fixed token supply raised from 50 Million to 5 Billion GMC, i.e. 100x times, without influencing and affecting the price of GMC.
🤔 What will happen to the Current GMC❓
📍 Based on the increase in total fixed supply from 50 Million to 5 Billion GMC, there are 4.95 Billion additional GMC minted.
📍 The current 3.155 Million GMC supply at the time of GMC Migration will be raised 100x times to 315.5 Million.
To protect the price of GMC and prevent any dumping and price fluctuations the below GMC Unlock Schedule will be followed.
📣 GMC Unlock Program 🔥
👉 Day Zero
On day zero, each GMC holder on GokuMarket.com will immediately be distributed with an additional 10% of GMC into their Rewards Wallet based on their existing holdings in all their GokuMarket Wallets (Main, Trading, Staking & Rewards Wallets). The unlocked GMC can be used to pay for trading fees, trade, shop, HODL, and earn staking rewards by simply adding to your GMC Vault. The rest of the GMC balances will be distributed in the following manner shown here below.
1. Trading Fees
On day zero, 40% (approximately 125 million) of the remaining Locked GMC tokens are immediately made available for paying trading fees. These GMC tokens can be accessed by enabling “Pay Exchange Fees in GMC” on GokuMarket in your settings. These GMC tokens will be burned if they are not used for trading fees at a rate of 10% per quarter.
2. Trading Volume
An additional 40% of the Locked GMC tokens will be released based on your daily trading activities.
For every $100 worth trading with non-GMC and non-stable-stable/fiat pairs*, 1 GMC will be unlocked into your Rewards Wallet, following the daily unlocking limit. This will start from Day Zero and run at a maximum quarterly unlocking rate of 10% (2.5 years). GMC tokens that are not released to you quarterly due to insufficient Trading Volume, will be burned.
*Excluded trading pairs: GMC/USDT, GMC/ETH, GMC/BTC, TUSD/USDT, USDC/USDT, USDP/USDT, & USDT/EUR.
3. Periodic Unlock
An additional 20% of the Locked GMC tokens will become available in your Rewards Wallet based on the quarterly burning schedule during the same week of every burning event. Each quarter, there will be a 10% of the total 20% Periodic Unlock amount released which will run for the duration of 2.5 years.
All GMC HODLers on GokuMarket.com before the migration are eligible for the distribution. GMC Unlock Program statistics and the progress can be checked from either on the web or the mobile super app and learn more in the FAQs.
Why didn’t GokuMarket Distribute all GMC on the Day 1?
Distributing all GMCs to our community on Day-1 would have made our development team happy, as it would have saved them from hours of hard work they have put in to come up with the Unlock Program Schedule. However, a successful token is a function of its tokenomics.
Releasing the complete GMC would have not only disrupted the tokenomics of GMC, but would have also disrupted the GMC price.
Why has some portion been reserved exclusively for fees?
The number 1 use case of GMC is trading fee discount. GokuMarket is a crypto exchange where all of the community members trade.
Keeping these conditions in mind, we wanted to ensure that a portion of GMC is used exclusively for trading fees. This also ensures that we are building the right community of traders and crypto enthusiasts, and not just turning this into a game of acquiring GMC. Time and again we’ve informed our users that the primary aim of GMC is to build a community and provide trading fee discounts to those who own it. With this release schedule, we’re staying true to our commitment towards GMC.
Why do I need to trade again to unlock my GMC?
GokuMarket has traveled a long journey in the past 2 years and we want to continue the journey of growth. For this, we will have to work as a community. We cannot do it without our community helping us out. This is one of the biggest reasons why we’ve carved out a portion of GMC to be unlocked through trading. The good thing is that you’ll be able to use your existing GMC that has been reserved for fees to pay the trading fees. Then on a daily basis you will earn additional GMC being unlocked based on your daily trading volume achieved - happy trading!
How much GMC can I unlock with Trading Volume on a daily basis?
The GMC Trading Volume Unlock is pro-rata limited on a daily basis. The daily trading volume unlock limit is calculated as per the quarterly limit / 90 days = Daily GMC Trading Volume Unlock limit.
Example: If you have a quarterly limit of 90 GMC Trading Volume Unlock limit, then you can unlock up to 1 GMC per day.
Does the daily GMC Trading Volume Unlock rollover to the next day?
If you miss the daily Trading Volume Unlock on any one given day, it does not rollover or accumulate to the next day and will simply get burned on a quarterly basis.
Can a third-party or APIs be used to achieve GMC Trading Volume Unlock?
Third-party access to your GokuMarket account or letting anyone else trade on your behalf is strictly prohibited and if uncovered, such account(s) will be immediately disqualified from the GMC Unlock Program altogether.
Use of any APIs to trade for the purpose of generating the GMC Trading Volume Unlock is also prohibited and will result in the account(s) being disqualified from the GMC Unlock Program altogether. Users should perform all trades personally by being logged in to their own GokuMarket account.
The GMC Unlock Program is intended to inspire and motivate more people to learn about and educate themselves about the potential benefits of cryptocurrency trading.
GokuMarket is a European-licensed crypto wallet, exchange, and marketplace provider, known as the one marketplace for the blockchain economy. The platform operates globally, with its primary markets being Poland, Czech Republic, France, Scandinavia, United Kingdom, Nigeria, Thailand, Vietnam, Japan, Ecuador & Colombia.
Stay connected with the cryptocurrency trends and get the latest updates by following GokuMarket on social media with Telegram, Facebook, Twitter, Instagram, LinkedIn, and YouTube. Also, make sure to download & install the GokuMarket Android and iOS app for quick & easy access.
Unlock & Enjoy 100x GMC! ⚡
Follow us on:
LINE (Thai): http://bit.ly/JoinLINEChat
YouTube (EN): https://www.youtube.com/gokumarket
YouTube (ES): https://www.youtube.com/gokumarketEspañol
Risk warning: Cryptocurrency investment is subject to high market risk. Please make your investments cautiously and be aware of the investment risk. GokuMarket will make best efforts to approve high-quality coin and token projects, but will not be responsible for your investment losses.