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Migration
GokuMarket Credit (GMC) migrated to the Binance Smart Chain (BEP20) for many advantageous reasons.
  1. 1.
    Faster GMC transactions at a lower cost
  2. 2.
    Fork off of PancakeSwap to launch the GokuMarket DEX platform
  3. 3.
    Exponentially growing the ecosystem with both CEX & DEX, created a need for increased GMC liquidity
The Binance Smart Chain (BSC) is both faster and costs less to transact on for the GokuMarket Credit, which is a win-win!
As part of launching the new GokuMarket DEX with Decentralized Finance (DeFi) and Commerce, the GMC migration was conducted as a fork off of PancakeSwap to access the additional features and functionalities.
Expanding the ecosystem exponentially from a single & centralized E-commerce & Trading platform to multiple Centralized & Decentralized platforms as part of geographical & regulatory partnerships, required a greater liquidity of GMC to support the community demand, funding, and acquisitions of various partners with a revised total fixed token supply from 50 Million to 5 Billion GMC, i.e. 100x times, without influencing the price of GMC.
Based on the increase in total fixed supply from 50 Million to 5 Billion GMC, there are 4.95 Billion additional GMC minted and allocated in accordance to the Tokenomics Distribution, the additionally supply doesn't imply any effect on the price of GMC.
Based on the circulating supply of 3.15 Million (3,150,000) GMC at the time of the GMC Migration, raising it 100x times, there are 311.85 Million (311,850,000) additional GMC minted for circulation, which are provided for in the below GMC Unlocking Program, specifically designed to protect the price of GMC and prevent any dumping.
Since GMC is pre-mined, there is also a deflation mechanism added, with the burning commitment of 20% from the total fees collected in GMC. The burn will continue until a total of 2.5 Billion (50%) of the total GMC supply has been burned.
Old contract: 0xa6272359bc37f61af398071b65c8934aca744d53

GMC Unlock Program

In order to honor existing GMC HODLers on GokuMarket.com, the distribution of the additional 311.85 Million newly minted GMC tokens in circulation will be released in the below manner, which has been designed to protect the GMC price & existing GMC holders' interest.
Day ZERO: each GMC holder on GokuMarket.com has been immediately distributed with an additional 10% based on their existing GMC holdings.
For example, Satoshi had 100 GMC in the Main Wallet, 100 GMC in the Trading Wallet, 100 GMC in the Rewards Wallet, and 100 GMC in the GMC Vault. On Day ZERO, Satoshi receives 10% of 100+100+100+100 = 400 GMC i.e. 40 GMC into his Reward Wallet.
Trading Fees: approximately 125 Million (40%) of the total distributed GMC can be used in the form of trading fees only and they do not qualify for Affiliate Rewards. These GMC are immediately made available, so traders can enable paying their trading fees using these GMC. These GMC tokens will be burned if they are not used for trading fees at a rate of 10% per quarter.
Volume Unlock: approximately 187 Million (60%) of the total distributed GMC will be released based on your daily trading activities. Starting from Day Zero, for every $10,000 worth of non-GMC and non-stable-stable/fiat pairs* trading, 1 GMC will be unlocked into your Rewards Wallet, following the daily variable unlocking limit. The daily variable Volume Unlock limit is around 100 GMC per user, 20 GMC per trading pair, and 10 GMC per transaction, but there is no time limit forcing the users to trade or lose it daily as it keeps rolling forward. Read more.
*Excluded trading pairs: GMC/USDT, GMC/ETH, GMC/BTC, TUSD/USDT, USDC/USDT, USDP/USDT, & USDT/EUR.
All GMC HODLers on GokuMarket.com before the migration are eligible for the distribution. Everyone can check their GMC Unlock Program statistics on the wallet section called GMC Unlock Wallet from either the web or the mobile super app and learn more in the FAQs.
Last modified 18d ago
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