Hi GIV Guild,
Please check the most recent article on staking rewards for updated numbers
P2P cryptocurrency trading and DeFi platform, CryptoLocally, will be distributing GIV tokens to members of the greater blockchain ecosystem using a Bonding Curve Distribution at 13:00 UTC on Tuesday, September 29th 2020. This article discusses bonus GIV staking rewards for the coming weeks.
- GIV staking rewards increased to 20% APY on CryptoLocally
- Liquidity providers for Balancer GIV/USDC pool will share ~6M GIV reward pool in the first month (starting Thursday, Oct 1)
For GIV Stakers
Currently, GIV token holders who staked GIV on CryptoLocally could receive staking rewards of up to 8% APY. These rewards have now been increased to 20% APY.
We expect that the total GIV volume going through CryptoLocally will increase exponentially in the coming weeks. For example, there will be GIV swapping back and forth Ethereum and Binance Chain through the bridge. More users will be trading GIV P2P through CryptoLocally. Token holders staking GIV on CryptoLocally will help increase liquidity, and facilitate the bridge as well as P2P trading of GIV on CryptoLocally. Thus, the higher APY will reward long term token holders that contribute to a better ecosystem.
For Liquidity Providers
As mentioned in the GIV Distribution Event Details, the CryptoLocally team will be seeding a Balancer GIV/USDC pool with liquidity at approximately 13:00 UTC, Oct 1 (the end of the GIV auction on Mesa).
We expect several members of the GIV Guild to participate in this liquidity pool. Providing liquidity to the pool increases trading volume and liquidity for GIV, which is extremely important for the whole community after the initial Bonding Curve Distribution Event.
Liquidity providers on Balancer will earn trading fees on the trades made through the pool. However, we want to further reward token holders that increase liquidity for GIV by providing additional GIV rewards.
Therefore, the Balancer GIV/USDC pool will receive a dedicated GIV reward pool in the first month for 5,916,453 GIV (approx. 6M GIV).
As you can see in our token allocation/release schedule section in the About the GIV Token article, less than 13.8% of GIV will be circulating at the end of the GIV Bonding Curve Distribution.
Therefore, even if all of the unlocked tokens are staked on CryptoLocally and earning staking rewards at 20% APY, the total GIV rewards distributed at the end of the first month would only be (138,000,000)*(1.0150981694–1) = 2,083,547 GIV.
Given that 8M GIV is to be rewarded for staking in the first month, this leaves approx. 6M GIV for the dedicated reward pool for liquidity providers. Depending on the size of contribution into the pool and amount of liquidity available, this will increase yield significantly for them. Below are a few scenarios.
Example 1: Assume that 25% of the circulating supply after the bonding curve distribution is staked into the Balancer GIV/USDC pool. Then, the APY on GIV for liquidity providers would be ((1 + 6000000 / (138000000*0.25))¹² — 1) * 100 = 584.91% APY on GIV.
Example 2: Assume that 33% of the circulating supply after the bonding curve distribution is staked into the Balancer GIV/USDC pool. Then, the APY on GIV for liquidity providers would be ((1 + 6000000 / (138000000*0.33))¹² — 1) * 100 = 335.46% APY on GIV.
Example 2: Assume that 50% of the circulating supply after the bonding curve distribution is staked into the Balancer GIV/USDC pool. Then, the APY on GIV for liquidity providers would be ((1 + 6000000 / (138000000*0.5))¹² — 1) * 100 = 171.99% APY on GIV.
Each week, members of the CryptoLocally (GIV) team will take snapshots at random times and allocate 1,479,113.25 GIV to the addresses that have contributed liquidity on the Balancer GIV/USDC pool proportionally. We will then upload a file on our GitHub each week with the results.
Looking Forward: GIV — The GIVernance Token
GIV will be a governance token on the CryptoLocally, creating a truly decentralized gateway to blockchain and DeFi. GIV holders will receive voting rights, which will give them the ability to determine staking rewards, level of inflation (if any), and token burns in the future. Therefore, note that the staking reward numbers and rates will likely change after the launch of GIVernance under the management of the community, and it will continue to reflect the voice of GIV token holders.
Watch out for Scams!
As always, be careful and double check everything. We can guarantee that CryptoLocally team members will not PM you first. Do not fall prey to imposters and scammers.
Whenever you are in doubt, you are more than welcome to reach out CryptoLocally admins on the CryptoLocally (GIV) Telegram community.
For your reference, the address of the GIV (ERC-20) token is:
GIV (BEP-2) was issued by the following address:
There are NO Uniswap pools and/or Balancer pools at the time of writing. Third party pools may form after the GIV auction begins. The CryptoLocally (GIV) team will be seeding its own Balancer pool after the Bonding Curve Distribution and sharing the pool address afterwards. When in doubt, always check that the GIV token contract address is correct.
This information is not investment advice. Please read the full disclaimer before investing.
About CryptoLocally (GIV)
CryptoLocally is building the easiest and most accessible fiat gateway to blockchain and DeFi. The platform has been designed with ease-of-use in mind so that anyone can gain access to these technologies.