New GIV Listing on Balancer: Oct 1, 13:00 UTC
The GIV Bonding Curve Distribution Event (through Mesa) started at 13:00 UTC (Sept 29) and will end at 13:00 UTC (Oct 1). We are now around halfway through the GIV batch auction via Gnosis Protocol. In around 24 hours, we will be listing GIV on Balancer with a USDC/GIV liquidity pool.
- Circulating Supply: Less than 13.8% as allocated here
- Listing time: 13:00 UTC, Oct 1st
- Where: Balancer
- 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)
- As mentioned here, the team will seed a maximum of 4M GIV in liquidity
- 1M of the unsold GIV from the auction will be burned, the rest will be used for additional staking rewards
Distribution Event Updates
As mentioned in our earlier update, the distribution event has been going very well for the community. Due to significant buy demand at the beginning of the auction, the price increased significantly. Since then, more price discovery has occurred on Uniswap and the token price has started to stabilize. A healthy token price will be beneficial for token holders going forward.
The team will be officially seeding a Balancer GIV/USDC pool with liquidity, along with several other token holders in the GIV community. This will increase overall liquidity for GIV for the whole ecosystem, which will allow for ease of trading and further volume growth going forward.
As summarized in details of the staking rewards article, approximately 6 million GIV was to be rewarded to the liquidity providers in the USDC/GIV Balancer pools in the first month. Now, 1M of the unsold tokens will be burned, while the other half will be distributed as additional staking rewards for liquidity providers in October. Therefore, it can be estimated that the staking rewards will be in the range of around 200–800% APY on capital contribution. This helps incentivize liquidity provision for the whole community, and rewards token holders risking impermanent loss.
Token holders that can’t provide liquidity can still stake GIV into CryptoLocally’s Finance Wallet and earn 20% APY.
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: 0xf6537fe0df7f0cc0985cf00792cc98249e73efa0
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.