GIV Token Distribution Event: Frequently Asked Questions

P2P cryptocurrency trading and DeFi platform, CryptoLocally, will be distributing the GIV tokens to members of the greater blockchain ecosystem using a Bonding Curve Distribution at 13:00 UTC on Tuesday, September 29th 2020.

For additional information and discussion, please join our telegram community at: t.me/cryptolocally

GIV Auction Summary

  • Start date and time: 13:00 UTC on Tuesday, September 29th
  • End date and time: 13:00 UTC on Thursday, October 1st
  • Where: To be shared through CryptoLocally Website
    Alternatively, use Mesa
  • Duration: 48 hours or until the total GIV allocated has been claimed
  • Initial Price: 0.0065 USDC/GIV
  • Currencies: USDC
  • Everyone should read the GIV legal disclaimer before participating

How can I buy tokens?

What are token bonding curves?

Token Bonding Curves are designed to circulate governance and create shared interests between the project’s team and the general community that supports the project. Bonding Curves allow for an effective supply and demand distribution process, and are thus the most ideal system for token distribution. They also allow for completely decentralized governance. For more information, read this article.

Why did CryptoLocally decide to use a bonding curve instead of offering tokens through an ICO or direct listing?

What is the Gnosis Protocol and is it open-source? Why are you using Gnosis Protocol?

We decided to base our bonding curve on the Gnosis Protocol because it prevents the following issues:

  1. Front running via bots (making it impossible for real investors to participate early)
  2. Participants competing on factors other than the price they are willing to pay

Essentially, the Gnosis Protocol significantly reduces the risk of front-running and allows a more accurate price discovery to occur.

How does the allocation mechanism work?

For more specific information on how orders get allocated, we recommend that you read the Gnosis Protocol overview.

Can you sell back tokens?

When will each batch end?

Will everyone within a batch pay the same average price per token?

When/where will the distribution happen?

Accepted currencies

How will the price behave? Is there a maximum price that GIV will reach?

Will anybody actually pay the initial price of 0.0065 USDC per token?

Be prepared

Watch out for Scams!

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:
0xf6537fe0df7f0cc0985cf00792cc98249e73efa0

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.

Further Reading

CryptoLocally (GIV) GitHub

How to get GIV tokens

Link to GIV Token Distribution Event Details

About the GIV Token

This information is not investment advice. Please read the full disclaimer before investing.

About CryptoLocally (GIV)

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The first fully decentralised P2P crypto trading platform!