GeroWallet (GERO) is an all-in-one DeFi app designed to be a powerful instrument for experienced and new users, alike. GeroWallet delivers a redefined UX by focusing on a user-centric design. Our product features a built-in multi-functional toolkit that boasts inter-chain and cross-chain swapping, with liquidity lock features. Wallet capabilities will expand with staking, swapping, and fiat on/off-ramp functions. Complementing this kit, the $GERO token will be implemented as a medium for all in-wallet transaction fees. In this article, we'll discuss What is GeroWallet (GERO) | What is GeroWallet token | What is GERO token
In this article, we'll discuss information about the GeroWallet project and GERO token
GeroWallet is an all-in-one DeFi app designed to be a powerful instrument for experienced and new users, alike. GeroWallet delivers a redefined UX by focusing on a user-centric design. Our product features a built-in multi-functional toolkit that boasts inter-chain and cross-chain swapping, with liquidity lock features. Wallet capabilities will expand with staking, swapping, and fiat on/off-ramp functions. Complementing this kit, the $GERO token will be implemented as a medium for all in-wallet transaction fees.
Your key to the DeFi world
Access decentralized finance (DeFi) applications with complete blockchain compatibility
No more switching between multiple apps
User experience focused
Easily buy, store, swap, send, and receive any cryptocurrency on a sleek and simple interface
We maintain the highest standards of financial security compliance
Interchain & multi-chain compatibility
Effortlessly swap digital assets between chains
Built on Cardano
Keep more of your assets in your wallet by avoiding the high fees of the Ethereum Network
DeFi users today often switch between several blockchains such as Ethereum, Binance Smart Chain, Polkadot, Cardano, and Solana — which is a hassle. Furthermore, users are forced to navigate between chain-specific apps or price tracking tools, leading to an inefficient and poor user experience.
GeroWallet was engineered to solve these problems. Users will interact with tokens, smart contracts, and price trackers seamlessly without worrying about the compatibility of underlying blockchains. For our MVP, we have built a browser extension that gives users direct access to the decentralized world. Additional to our browser extension, GeroWallet will expand to both a mobile application and hardware wallet.
GeroWallet will be governed by the community as a decentralized autonomous platform. While staking $GERO, users can vote on proposals such as selecting new blockchain integrations and fee/reward structures. Staking rewards users by providing discounts on wallet services while also offering access to premium features and integrations.
Ethereum’s high gas fees vs Cardano’s low gas infrastructure
At the peak of the Decentralized Finance (De-Fi) boom 6 months ago, Ethereum gas fees reached all-time highs.Transaction fees were as high as $700 and continue to be as high as $500 per transaction.These exorbitant transaction costs have become discouraging to many users.
Ethereum gas fees are paid to miners for processing transactions on the blockchain. The complexity of data moved and the user’s desired speed of transaction dictates the price. Ethereum’s transaction system resembles a port, where miners are the middlemen who ferry transaction data onto the blockchain. However, as the number of transactions escalate the number of ferries do not increase proportionally.
In order to ensure their transactions are given precedence, some users will pay higher Ethereum gas (gwei) for their transaction. The system incentivizes the ferry owners to transport the highest bidders first, effectively creating a “gas war.” Herein lies the scalability problem of many early blockchains such as Bitcoin and Ethereum. Ethereum has thus become a victim of its own success.
Though Ethereum has since implemented its layer-2 solution to address scalability problems, Cardano is designed with scalability as a core feature. Firstly, Cardano’s transaction fee structure is fundamentally different from Ethereum. Each transaction fee is comprised of two parts: a cost corresponding to the size of the data per byte, and a fixed minimum cost. Secondly, fees are not immediately paid to the node operators but instead are collected in a virtual pool then distributed to all pools that created blocks during an epoch. All blocks are centrally created by nodes from Input/Output Hong Kong (IOHK) and its partners. Collected fees are distributed at the end of the epoch, therefore node operators can process transactions in a fair and egalitarian manner.
This makes Cardano the perfect platform upon which to build GeroWallet. More than just a wallet, GeroWallet features a simple, all-in-one solution for all levels of crypto users. Synergized by Cardano’s strengths, GeroWallet users will be able to perform tasks such as store, send and receive any cryptocurrency regardless of the underlying blockchain.
GeroWallet can directly buy or sell any cryptocurrency using fiat on/off ramps. Cardano’s cross-chain connectivity will enable developers to seamlessly adapt decentralized applications (dApps) and services from any blockchain onto GeroWallet. Examples of these decentralized services include: token staking, yield farming, and digital asset lending. With so many complex services built into GeroWallet, a low transaction fee system such as Cardano is imperative.
Token $GERO supply: 500 Million
Private Token Sale: 36%
Ecosystem & Community Rewards: 30%
Team & Developers: 20%
IDO Token Sale: 7%
Initial Liquidity: 4%
GERO token is now live on the Ethereum mainnet. The token address for GERO is 0x3431f91b3a388115f00c5ba9fdb899851d005fb5. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough ETH in your wallet to cover the transaction fees.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
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), Binance (BNB)...
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet
If you don't have a Metamask wallet, read this article and follow the steps
Transfer $ETH to your new Metamask wallet from your existing wallet
Connect Metamask wallet to Uniswap Decentralized Exchange and Buy, Swap GERO token
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 GERO 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
Find more information GERO
🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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