New GIV Listing on Balancer: Oct 1, 13:00 UTC

2 min readSep 30, 2020

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.

Key Facts

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.

What’s next?

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.

Staking Rewards

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