This article presents Gigzi Crypto-Assets, which are the core elements of the Gigzi Ecosystem. Main focus of the article will be on the distribution, supply, reward mechanism and the features of each.
Introduction
Gigzi is a financial platform which utilizes an innovative approach to blockchain based investment tools and cryptocurrencies to create a decentralized global currency which is regulated by Smart Contract. The crypto-assets provided offers distinct investment features. While some of them was providing stability one of them provides exposure to volatility. While holding some of them offering stability the other will provide rewards. Overall, they create an ecosystem full of high quality investment options.
Gigzi Crypto-Assets
There are four crypto-assets in the Gigzi Ecosystem which are all unique to the ecosystem. These four assets are created in a way to be complementary to the ecosystem. All four of these assets would be exchangeable to each other in the ecosystem.
One of these assets is Gigzi Black (GZB) which is the only crypto-asset of the platform that its’ value is not anchored to a precious metal. On the other hand, it is backed by market confidence and rewards. Other three crypto-assets are; Gigzi Platinum (GZP), Gigzi Gold (GZG) and Gigzi Silver (GZS) of which values are pegged to the corresponding precious metals as a result which are stable and secure against fluctuations in market sentiment.
Gigzi Black
Gigzi Black is similar to other crypto-assets that exist in the general cryptocurrency market in terms of price. Price of the Gigzi Black is determined by the demand on the open market. In order to incentivise users to hold Gigzi Black, a reward scheme has been established. 60% of all the transaction fees generated on the Gigzi Ecosystem will be distributed to the Gigzi Black holders. Rewards will be paid in Gigzi Gold and the size of the reward will be determined according to both the period GZB held and the amount of GZB held in that period.
Gigzi Black holders will help the token price to increase which will attract more users to trade them. As they trade generated fees will be paid to Gigzi Black holders. This relation will create a win-win situation in the ecosystem.
Supply and Distribution
There will be one billion Gigzi Black created. A hundred million of Gigzi Black will be distributed through crowd-sale. The rest of the GZB will be distributed proportional to the growth in the number of users in the platform.
Gold Rewards
As explained before, Gold Rewards are paid in Gigzi Gold (GZG). 60% of the transaction fees will be accumulated in the reward fund. Transaction fees collected in GZB, GZP and GZS will be converted to GZG at the current exchange rate. These rewards are distributed to GZB holders at the end of a 90-day reward cycle. The amount of the rewards each holder gets will be determined by a formula.
Gigzi Metal
GZG, GZP and GZS are backed by pure, unfabricated corresponding metal; where one crypto-asset is equal to one gram of metal. Because of the corresponding metals stability and investment security, during instable and uncertain times, mankind invested in these metals to protect their wealth for ages. Creating crypto-assets in a crypto ecosystem offers stability and safety of wealth to the users.
The precious metal that backs the crypto-asset will be redeemable. Upon request, the metal is fabricated into cast bars by the mint and delivered to the user.
Supply and Distribution
Prior to creating any Gigzi Metal crypto-asset, the equivalent precious metal would have been sourced by the Gigzi Treasury. The number of Gigzi Metal crypto-assets will be public on the blockchain. The amount of precious metals held in reserves on the other hand, will be audited by the Mint and the audit reports will be made public by the Treasury.
Conclusion
Providing a stable investment alternative in an ecosystem is a great idea. Imagine a case where a day trader makes final trades for a day. He has the option to exchange his/her earnings into precious metals until he/she returns back to trading. This way he/she will be able to protect his/her wealth. There is no such option offered in the cryptocurrency ecosystem at the moment. I have left Tether and similar coins out of consideration here since they are not stable as they should be. Therefore, Gigzi would attract many investors/traders to the platform.
Reward mechanism for Gigzi Black holders on the other hand, is a great incentive to hold GZB. Holding the market backed crypto-asset actually generates GZG which is a stable asset. This incentivise will attract users to the platform and the more holders/GZB held, price/market cap will move up which in turn, attract traders. The more traders exchange GZB the more transaction fees accumulated therefore, GZB holders earn. Perfect business model which creates a win-win situation for both holders and traders of GZB. Rewards mechanism along with stable coin offering makes Gigzi an advantageous platform among others.
Important Links
Website: https://www.gigzi.com/
Whitepaper: https://www.gigzi.com/whitepaper
ANN: https://bitcointalk.org/index.php?topic=5047392.0
Bounty: https://bitcointalk.org/index.php?topic=5055492.0
Telgram: https://t.me/gigzicommunity
BTT @meejay: https://bitcointalk.org/index.php?action=profile;u=1027151