Place/Date: - October 1st, 2020 at 7:04 am UTC · 3 min read
Contact: CryptoLocally, Source: CryptoLocally
CryptoLocally, a P2P exchange providing a fiat gateway to DeFi assets, announced that it will be listing its native token GIV on Balancer, one of the top decentralized exchanges, with a USDC/GIV liquidity pool at 13:00 UTC, October 1st
In its earlier announcement, CryptoLocally stated that it commenced its GIV Bonding Curve Distribution Event on September 29 at 13:00 UTC, which is due to finish at 13:00 UTC on October 1. Following the completion of the GIV batch auction, the GIV token will be listed on Balancer.
GIV token listing will take place at 13:00 UTC, October 1st, on the Balancer platform with USDC/GIV liquidity pool (60/40). It is expected that CryptoLocally will seed a maximum of 4M GIV in liquidity, with a circulating supply of less than 13.8% (138M GIV). The anticipated seeding price is stated as the ending price of the Bonding Curve Distribution.
Additionally, the CryptoLocally team stated that 1M of the unsold GIV from the batch auction will be burned, and the remainder will be used for additional staking rewards.
Lastly, liquidity providers can expect massive staking rewards, according to the official announcement from CryptoLocally.
For the listing, the CryptoLocally team will be seeding the Balancer GIV/USDC pool with liquidity, joined by a number of other GIV token holders. This will boost the GIV token liquidity for the entire ecosystem, which, in turn, will facilitate the trading processes and increase the trading volume further.
CryptoLocally has recently closed a private funding round for its platform’s governance token GIV. The private round got robust support, which was reportedly oversubscribed by approximately 30x.
CryptoLocally is a P2P platform that is aiming to build the “easiest and the most accessible” fiat gateway to blockchain and DeFi, which is the GIV token. The platform itself has been created with the end-user in mind, providing crypto enthusiasts all over the world with easy access to these technological advancements. Additionally, CryptoLocally is focusing its efforts on DeFi mass adoption with the help of its platform.
In addition, CryptoLocally’s team goal is to provide people with the necessary tools to manage their financial future. By getting rid of the need to use the middleman, CryptoLocally allows people to avoid paying fees, interest rates, and bypass multiple restrictions imposed by the traditional financial system.