The Geco.one platform continues to push forward at full speed. After a successfully sold out private sale, Geco.one is delighted to announce the launch of two initial exchange offerings (IEOs), giving investors another chance to get their hands on highly sought-after GEC tokens.
The fintech sector is continuing to embrace blockchain technology, resulting in an unlimited flow of new arrivals from all industries. This has dramatically accelerated global adoption of blockchain technology by attracting capital, attention, and an ever-growing user base to the sector. The potential user base for new releases is growing; as a result, the technology is improving significantly – with the most intuitive & user-friendly platforms coming to the forefront. However, it is not the only the technology itself that is improving rapidly – IEOs have also revolutionised the way token sales are conducted in the space.
Many investors have been burned in the past by scam ICOs running off with funds, leaving them with no way of obtaining value for their tokens. Now though, exchange-based token sales (IEOs) tend to come with an immediate listing on the host exchange at the end of the IEO period. Also, there is an expectation that reputable exchanges have done due diligence on the projects they conduct IEOs with. IEOs have also proven to increase traffic and volume on cryptocurrency exchanges as well as streamlining the token sale experience for projects. A real win-win scenario. Coming right off the back of a sold-out private sale, Geco.one’s IEOs are expected to attract plenty of worldwide interest.
The Geco.one team took its time to analyse the market and competitors, in order to provide a unique offering to its customers. Their result of that research is a platform that combines the two best business solutions currently available in the crypto market, and one brand new solution migrated from FOREX – PAMM accounts.
The first element is inspired by Bitmex’s excellently delivered & executed offering of derivatives to the crypto market. The potential of the cryptocurrency derivatives market is huge, and as an industry we have yet to even scratch the surface of what is possible. Bitmex alone turns over a hefty 5 Billion Dollars’ worth of derivatives every 24 hours. Let’s take a look at the placement of the Geco.one platform in the market.
A second hugely important aspect of Geco.one’s fusion of tested solutions is our token burning economy that sets a new trend in cryptocurrency (like Binance token burning economy). Every time the GEC token is used inside the platform, it will be permanently destroyed, lowering the number of Gecoins daily. This approach is intended to stimulate a steady growth in value for the GEC token. (BNB gained 37,000% in value in just over two years).
It’s worth mentioning that Geco.one did not set a limit to the number of tokens that it plans to destroy, meaning that at some point 1 GEC could be worth a small fortune surpassing top cryptocurrencies over the coming years if demand increases at the same rate as supply reduces. A third is the PAMM accounts system. Already tried and tested in the FOREX market, Geco.one’s introduction of PAMM into the cryptocurrency ecosystem is sure to attract a whole new stream of investors and traders to the platform.
Geco.one’s next-generation options menu has been refined to offer futures trading, leverage, and both long/short positions from a single platform; offering control, simplicity, and variety to the user. Users will also be able to manage standard Limit orders.
In years to come, 2019 may well be remembered as ‘the year of the IEO’. After several successful IEOs run by other projects on a wide array of platforms, Geco.one is delighted to present its IEO in LATOKEN and COINEAL simultaneously.
Merchant users (Trader): ‘Traders’ are account holders who operate transparently on the platform. Their trades are monitored and statistics are collected that reveal their trading success, as well as other important performance details.
Investor user: Investor users represent the other pillar of our user base. They are users who wish to invest in cryptocurrencies or tokens but lack the experience or time to study the markets and decide on trades. Users with an investor account will be able to access Trader statistics and trade together. This feature of the platform has been called PAMM.
The GEC (ERC-20) token, as a utility token, will be used within the platform and the internal ecosystem. It can also be used as a method of payment between individuals.
A total supply of 200,000,000 tokens will be created, including the amount allocated to the Token Sales. Maximum amount of GEC token in circultion is set to 50,000,000 GEC at any given time. The tokens are naturally deflationary as they will be burned when used on the platform – constantly reducing the available supply.
The GEC token will be available to purchase during the above mentioned IEOs. Participants in the sales will be able to buy GEC using Bitcoin (BTC) or Ethereum (ETH).
The leading utility of GEC token is inside the platform ecosystem. One of its features is a credit function that allows PAMM Managers to utilise additional functions inside the platform, data integration, leverage and pay transaction fees.
GEC will be purchasable on COINEAL during the IEO with Bitcoin only. A full list of the terms and conditions will be published on Coineal.com.
The first phase of the COINEAL IEO begins on July 1 and will last just 24 hours. Three million GEC tokens have been allocated to this phase, and the configured spot price will be 5000 Satoshi (0.00005 BTC).
The second phase of IEO on COINEAL consists of the same quantity of tokens. However, the purchase price and the time frame will be different. The acquisition time frame in Phase 2 will be 48 hours uninterrupted, and the spot price will increase by 500 Satoshi (reaching 0.000055 BTC per GEC). The participation period for Phase 2 is from July 5th to July 7th.
Phase 3 of the IEO will begin on day seven overlapping with Phase 2, ending on July 14. For the third phase, the value per token will increase again by 500 Satoshi, reaching a value of 0.00006 BTC/token. As an incentive for participants, all three steps will be subject to a +3% commission promotion. This means that for referring other participants, you will receive 3% of their purchases.
Those wishing to buy GEC with Ethereum (ETH) can acquire them through LATOKEN. In this case, the unit of account for the spot price is not Bitcoin, but the dollar. However, the corresponding calculation will be made for purchasers with Ethereum. The LATOKEN IEO will run slightly differently to that of COINEAL in order to add more agility to the project at the time of going to market. LATOKEN provides a wide variety of trading pairs with ETH, and GEC will be one of them. The key factors are detailed below.
The LATOKEN IEO will run from 1 to 14 July, simultaneously with the COINEAL IEO. The price is set at 0.55 USD at the time of writing; and a maximum fundraising cap of $3,000,000 will apply. This maximum fundraising cap comes with a high percentage already acquired- around 1.25 million dollars.
For a closer look at all the details of the project, we recommend reviewing the Whitepaper. You can find the official Geco.one website and project activity on social networks through the following official links.
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