First came ICOs, followed by STOs, and now IEOs are all the rage. Tokensale has gone through several evolutions in a short span of time, with each iteration having its own advantages and drawbacks. Galaxy Wallet is introducing a new model, the initial offering (IWO), that aims to enhance the tokensale process even further for investors and projects alike. Here’s what’s been going on at Galaxy last week:
Wallet Updates
App version 2.1 is now available for download on iOS App Store and Google Play
Developers have been working hard to finish App version 2.1.1, with 90% of the work completed.
Galaxy Wallet’s Initial Wallet Offering
Galaxy Wallet is the first project to launch an initial offering (IWO) to reward loyal users. Here’s how it works: users have to contribute at least 1 to a limited-supply IWO investment bundle that offers 10% interest. Then, they will get an allocation to invest in GC at a favourable rate by sending to the designated address.
GC has a total supply of 2.1 billion with the following breakdown: 100 million GCs are premined with the remaining 2 billion reserved for by the market. Of the 100 million GCs, 20 million will be used to rewards users to build up the community. There are three main activities — community airdrops, airdrops, and ecosystem rewards. 80 million GCs are reserved for tokensale.
Community Building Incentives:
• Community Airdrops: In order to grow the user base and strictly control the distribution of GCs, 20 million GCs are reserved for the community
• Wallet Airdrops: In order to activate and incentivize users, first-time users who download the are rewarded GCs.
• Ecosystem building rewards: 10 million GCs are reserved to reward users that contribute to the Galaxy ecosystem, such as writing articles, making videos and other creative contributions.
80 million GCs: Tokensale
80 million GCs are reserved for tokensale. Of that, 20 million GCs will be sold in the first round. In order to effectively motivate early participants of the community, Galaxy Wallet is launching the first-ever Initial Wallet Offering (IWO) model.
Initial Wallet Offering (IWO)
The Initial Wallet Offering is created by Galaxy Wallet that complements its ecosystem model that rewards users for using services such as lending, wealth management, DApp, and . By using the services in the , users can get allocations for the IWO. Through IWO, Galaxy Wallet will reduce the significant cost of intermediaries and pass on the savings to users and buyers. In this way, Galaxy’s lending and investment products can achieve income double the industry’s average. By eliminating the middlemen and its associated costs, Galaxy can achieve a sustainable business model and create a sound foundation for the .
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Published at Wed, 24 Apr 2019 04:34:46 +0000
