How to get GIV tokens
The following is a short guide that walks you through the simple process to get GIV tokens.
Step-By-Step Guide — Balancer
- Where: Balancer
- Listing time: 13:00 UTC, Oct 1st
- Circulating Supply: Less than 13.8% as allocated here
- Seeding Price: Ending price of Bonding Curve Distribution (whichever is lower from Mesa/Uniswap)
- Massive staking rewards for liquidity providers
- Pool: USDC/GIV (60/40)
- 1M of the unsold GIV from the auction will be burned
- ~20M GIV will be rewarded to liquidity providers as staking rewards
Using Balancer to buy GIV is extremely easy.
- Go to Balancer. Connect your wallet by clicking “Connect Wallet” at the top right. We recommend Metamask.
2. Then, click on the “Token to Buy” column and find “GIV”. If GIV can’t be found, copy and paste the token contract address: 0xf6537fe0df7f0cc0985cf00792cc98249e73efa0
3. Select the token you want to sell for GIV. We recommend USDC or ETH, but any token listed on Balancer should work.
4. Set the amount that you want to buy and then click “Swap”:
Once you confirm the transaction, your GIV should arrive in your wallet!
GUIDE — using Uniswap
Public sale buyers have created a GIV-USDC Uniswap pool already. The link is available on our channels. The following illustrates the step-by-step process that you can take to get GIV on Uniswap.
1.Set up your wallet!
You will need to use a wallet compatible with Ethereum smart contracts. We recommend using MetaMask.
Make sure you load sufficient USDC or ETH into your wallet. If you want to buy GIV using USDC please note that you will also need ETH in order to pay GAS fees on the Ethereum network.
2.Place your order
After connecting your wallet, select USDC or ETH and enter the number of USDC/ETH that you wish to spend to purchase GIV tokens. The minimum amount of GIV that you will receive will be then displayed underneath. Approve the transaction by clicking on the blue “Approve” button.
You will need to pay gas fees (ETH network fees) in order to confirm the transaction. A popup from your 3rd party wallet (Metamask or other) should appear for you to confirm it.
To move to the next step, click on the blue “Swap” button to trade USDC for GIV.
You will now be taken to the confirmation step to process the swap. Once reviewed and ready to complete the trade, click on the blue “Confirm Swap” button.
Congratulations! You just bought your GIV tokens on Uniswap!
Guide — using Mesa
Please remember that the order interface will only be available starting from 13:00 UTC on Tuesday, September 29th 2020. The link will be shared on our channels. The following illustrates the step-by-step process that you can take to get GIV when the interface is ready.
1. Set up your wallet (do this ASAP)!
Make sure you load sufficient USDC into the wallet of your choice. When the interface becomes available, open it and connect your wallet.
2. Deposit your funds into the interface.
Go to the “Balances” tab. You will be able to “Enable Deposit” on your USDC balance. Confirm the transaction.
Click on the purple “+” button under “Actions” on the USDC row. Enter the amount you wish to deposit for trading.
Once this transaction has been completed, go to the “Trade” tab to start placing your order(s).
3. Place your order(s)
Enter the amount of USDC that you wish to exchange for GIV tokens into the “Sell” field.
You should then enter the maximum average price you want to pay per GIV token in the “Limit Price” field.
Note: The Limit Price inputted in the screenshot above is just an example. You should choose your own Limit Price after doing your own research and exchange how much you are personally comfortable with. For reference, the initial price of the Bonding Curve Distribution is 0.0065 USDC/GIV.
Once you type in your Limit Price, the minimum amount of GIV that you will receive will be displayed. Click “Submit Limit Order” and the order will appear on the right. It will execute if the price is high enough for the current batch.
1. Alice wants to spend 100 USDC to buy GIV. She does not want to buy GIV at anything higher than an average price of 5 USDC/GIV.
2. To prepare her order, she enters 100 in the “Sell” input field for USDC.
3. Then, she enters “5” into the “Limit Price” input field. This is the maximum average price in USDC that she is willing to pay per GIV token.
4. The “Receive at least” field will automatically fill up with the minimum amount of GIV tokens that Alice will receive if the order gets allocated.
5. If she believes that she will be satisfied with this outcome, she can click “Submit Limit Order”. The order will then appear on the right side under the “Open” tab.
6. When the next 5 minute interval is over, the solution for the batch of transactions is calculated. An algorithm decides which orders will be processed in order to optimize the maximum efficiency in token distribution.
7. If the order is accepted in the batch, it gets processed by the bonding curve smart contract. The successful order will appear under the “Trades” tab. Alice will receive her GIV tokens in the interface and she can withdraw the GIV tokens from the “Balances” tab.
Once again, note that the limit price is the maximum average price that Alice is willing to pay. Though it is difficult to predict, she may end up paying a significantly lower price than the Limit Price that she set for the order.
Furthermore, please note that some orders may only be partially filled. If an order is partially filled, the interface will indicate this, and the remaining portion of the order will be automatically transferred to the next batch unless it is canceled by the user.
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.
Can I place multiple orders?
You can place as many orders as you wish. Keep in mind that each order will incur gas costs.
How can I cancel an order?
If a submitted order is unfulfilled, you will be able to click it under “Your Orders”. Once clicked on, you will be prompted with an option to cancel the order. If you confirm the cancellation, the order will be deleted as soon as the transaction has been completed on the Ethereum network. The speed in which the transaction takes depends on the gas fees/prices that you set.
How long does each transaction take?
The time it takes for each transaction to confirm depends on multiple factors.
- The gas price that you set has an impact on the speed at which your order is placed. This may determine if your order gets placed in the current or next batch of orders.
- Once the order is submitted in the batch, the gas price that you initially set becomes irrelevant. All participants in the batch are equal in terms of gas at that point.
- Batches are filled and closed in 5 minute intervals.
- The solution is calculated at the end of each batch interval, and this defines the allocations for that batch of orders.
What happens after the transaction?
You will receive your GIV in the interface if your order’s limit price is sufficient to get lifted during the batch. Once you have the GIV tokens in the interface, you can withdraw them into your wallet. You do not need to withdraw the GIV tokens right away. By reconnecting the same wallet you used to make the order(s), you will be able to withdraw the GIV tokens from the interface at a later time.
When do orders close? How will I know whether they are open?
On the right side of the interface, there will be three tabs: “Open”, “Trades”, and “Closed”, respectively. Open transactions will show up in the “Open” tab, completed orders will show up in the “Trades” tab, and the canceled ones will show up in the “Closed” tab.
More information on the GIV token, allocations, and the bonding curve distribution itself will be released shortly.
This information is not investment advice. Please read the full disclaimer before investing.
About CryptoLocally (GIV)
CryptoLocally is providing non-custodial smart contract escrows for peer-to-peer digital assets trading. The platform has been designed with ease-of-use in mind so that anyone can gain access to these technologies.