Use of GCWine tokens
This feature will become effective when we obtain the crypto license. Once you have purchased GCWine tokens, you can use them to purchase Georgian wine at a discounted rate through the GCWine website. Simply select the wine you wish to purchase and use your GCWine tokens to complete the transaction.
Currently we do not have partners that accept the GCW token as a payment method. However, we hope that when the GCWine (GCW) token is listed on the market and we ourselves accept it as a payment method at our online shop, this increases trust towards GCWine and business entities in the food and beverages industry will also accept the GCW token as payment. When businesspeople see that our project funcions in real life and notice the benefits of blockchain and Web 3, they will have the desire to accept the GCW token. For this reason we decided to start business involving our own cryptocurrency.
The increased speed, lower transfer fees, security, lack of intermediaries and transparency. DeFi (decentralized finance) which is one of the cornerstones of the token economy provides the opportunity to conduct transactions without third parties’ undue control. We contribute to facilitating DeFi by retaining only 1% of the GCW tokens in the company’s ownership. The rest of the tokens will not be under any third party’s centralized control. This is also the feature which makes GCWine different from other projects.
No, not until the GCWine token is listed on various crypto exchanges.
The money will be used to achieve the goals of the project, make charity and pay the salaries of the team members. For detailed information please see the Tokenomics section in the Whitepaper.
What is the 10% share of the GCW tokens that the company keeps for itself and freezes for five years, used for?
The 10% share of the GCW tokens that the company keeps for itself will be used as reserve funds to implement future projects. 90% of these tokens will be gradually sold after the expiry of 5 years, while the remaining 10% will remain in the firm’s ownership for indefinite term.
Unfortunately, the prices of cryptoassets are volatile in general. There is no way of ensuring the price stability. Consequently, the GCWine token is no different. However, we still did our best to ensure the GCW token price stability by limiting the maximum purchase amount to 10 BNBs’ worth of GCW tokens.