What is The Gemstone (GST) | What is The Gemstone token | What is GST token
Gemstone NFT platform is providing critical infrastructure to the NFT space in the form of secure, transparent, customizable, and censorship resistant exchange contracts. These contracts will serve as a decentralized baseline for the exchange of NFTs, and ensure that future projects have a well architected set of contracts to build upon.
Also, we will build ecosystem which supports different social cause and charities by contributing to the shelters, catastrophes and other social requirements.
In addition to providing a baseline, we will build features which promote custom use cases and open access to the NFT space. To help contribute to this development and our direction as a whole, we have created our governance token: GST.
GST is used to propose platform changes and dictate overall direction, and to vote on these proposals.
Starting as a key piece of decentralized NFT infrastructure, and building upon that with contributions from our community of creators, collectors, and investors, GST is an unstoppable force moving the NFT space towards a better future.
Next Generation of Digital Collectables
Distinct Blockchain TimeStamps
GST introduces a combination of Digital gemstones & Collectables with a value hierarchy reflecting the scarcity and true value of the physical world
Unlike other collectables our gemstones will enable personalization making every gemstone unique backed with a distinct blockchain timestamp.
These Gemstones can be used as jewelry which can kept as assets, gifted to your loved ones or just flaunt to your peers. These assets would reflect true value of the gem class, will be tradable and come with variety of benefits.
Immortalize Yourself On-Chain
Digital Identity
You are not simply buying a piece of Gem. You are a part of it. The Smart Contracts allow you to assign a name giving you the ability to personalize.
Thus, You become a part of the GEM.
Your NFT can serve as your digital identity as we shift towards a completely digitized economy.
Gemstone Token
GST is an BEP-20 token designed to burn & facilitate decentralized governance over the Gemstone ecosystem. An initial supply of 15,000,000 GST will be minted, and our contract does not permit for minting after deployment.
GST will be used to put forward proposals on the future of Gemstone NFT Platform and vote on those proposals. Token holders will be able to delegate their tokens to other token holders who’s proposals they support. This will allow token holders with less than the 1% total tokens required to submit a proposal, to still participate in the drafting and submitting of proposals for review. In addition to the 1% total GST supply required to submit a proposal, a minimum of 4% total GST supply is required to vote yes on a proposal for quorum.
As the community takes control of the Gemstone NFT Platform governance, there are many other possible utilities for GST. At the moment, we are considering redistributed transaction fees as a possible avenue for increased utility. This would give token holders the ability to share in the revenue of Project-Gemstone NFT Platform, and benefit directly from the outcomes of governance proposals.
Another use case is staking LP tokens from the GST - BNB Exchange pair. Upon completion of a successful token pre-sale, we will be providing liquidity to create a GST - BNB token pair on Exchange.
To reward token holders for locking their tokens, we are considering giving token rewards for staking GST - BNB liquidity provider tokens in our contract. This will allow token holders to maintain and grow their share of the Gemstone NFT Platform community allocation, while simultaneously reducing the supply of GST in the market.
Gemstone Tokenomics
Our team token will be minted with 15 million GEM (GST). Thats the total number that can be minted with no further possibility of adding tokens. Contract can be checked from our Github
Shortly after launch, to encourage scarcity of the token, we will be burn 2.5 million tokens.
1 Million Tokens have been burnt already and we are reaching our schedule for monthly burn.
The burning mechanics would be 150k tokens every month till end of 2021 and 5% burn on every transaction. A total of 2.5 million tokens would be burnt from total supply.
Remaining tokens totaling 12.5 million GEM (GST) are split between our development
team, airdrops, marketing and primarily exchanges.
These percentages may fluctuate slightly upon distribution, but not for the
development team.
Any updates to this distribution will be made via Twitter and Telegram.
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Roadmap
Roadmap V1
Updated Roadmap V2
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How and Where to Buy GST ?
GST has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy GST
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since GST is an altcoin we need to transfer our coins to an exchange that GST can be traded. Below is a list of exchanges that offers to trade GST in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase GST from the exchange: PancakeSwap
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once GST gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information GST
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🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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