The GIV Bonding Curve Distribution Event started at 13:00 UTC (Sept 29). This article will provide updates and the current status of the distribution event. The distribution event is still ongoing through the GIV auction and most recently through a pool on Uniswap.
The first few batches saw massive buy orders. As a result, the clearing price for the first batch was 0.029 USDC/GIV (above the initial price of 0.0065 USDC/GIV). The following is a snapshot of the orderbook at the time:
Some buyers that submitted small orders (<200 USDC in volume) or limit prices below this figure were not considered in the batch by the Gnosis Protocol solvers.
Ethereum gas prices have been very high. As a result, users who were depositing/withdrawing their tokens into the Gnosis Protocol smart contract experienced high fees. Note that this congestion affected the Ethereum network as a whole. Note that CryptoLocally did not and is not charging any fees for the distribution event.
Bonding Curve Inflection Point
As illustrated in the GIV Distribution Event Details, the price reached an inflection point at around 0.0463 USDC/GIV. This made it difficult for buyers with small volume to get their orders executed by the Gnosis Protocol solvers. Orders did not execute for a few batches until larger volumes of orders were accumulated.
As we expected when we announced the GIV Distribution Event Details, the buyers from the auction created a UniSwap pool with initial liquidity. This facilitated purchases for the smaller buyers. We expect community members to further take advantage of the arbitrage opportunity available across the different exchanges as the price further stabilizes.
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:
CryptoLocally GIV White Paper
CryptoLocally (GIV) GitHub
How to get GIV tokens
Link to GIV Token Distribution Event Details
About the GIV Token
GIV Token Distribution Event: Frequently Asked Questions
GIV BONUS Staking Rewards!
This information is not investment advice. Please read the full disclaimer before investing.