Transactions Protocol

} 16. Nov 2020 milankozlevcar

The Geton Ecosystem has achieved significant success with the Geton Stake feature and we are moving towards another important milestone called Shareholders’ Stake.

We are filled with gratitude and would like to thank all our users and promoters for achieving such an impact in such a short period of half a year.

The next development stage of the Geton Ecosystem is the Direct Buy/Sell feature that will allow users to trade independently from the system. Later on, we will be listing the tokens on the Global Exchanges. But in the meantime, you will have an opportunity to experience Geton’s unique approach and to understand cryptocurrencies in a safe, secure way.

For this reason, we are announcing the Geton Transactions Protocol, a batch of information that will help you to clearly understand how transactions are processed and managed inside our system, with the support of the Grossus Blockchain network.

All our transactions are based on the GROSH cryptocurrency, which is an ERC-20 stable coin with a permanent value of 1,00 EUR. The GROSH token is used as a transfer medium within the Geton Ecosystem but at the same time works as a voucher with value in EUR which allows users to buy other cryptocurrencies (tokens) inside the Geton Ecosystem. When a user sells such cryptocurrency, they receive the responding amount in GROSH tokens.

Withdrawals of GROSH token are exposed to daily trading – token sales of the amount deducted from the stake.

The second exciting stable coin is EUROGROSH, a token with the same properties as GROSH but with very high liquidity. A user’s EUROGROSH tokens can be withdrawn through EUR or BTC transfer within 48 hours from initiating the withdrawal request. Transfers are made every working day of the Geton Company.

The EUROGROSH cryptocurrency has been implemented into the Geton Ecosystem on November 25, 2020, at 12:00 CEST. Until then, all transactions were supported only with GROSH tokens.

 

EUROGROSH token principles

How to get EUROGROSH token?

One way is to register as a Geton user with a referral link, start a deposit through the back-office order (Buy EUROGROSH) and buy EUROGROSH with bank transfer or BTC.

The second way is to receive EUROGROSH from another user through the Transfer Balance option.

The third way is for someone from your structure to spend EUROGROSH token for purchases of listed tokens.

 

How to withdraw EUROGROSH token?

Initiate withdrawal through the back-office order (Sell EUROGROSH) and withdraw via bank transfer or BTC.

Initiate a transfer through the back-office balance order and send EUROGROSH to another user (Grossus blockchain wallet).

 

What about a commission on buying with EUROGROSH token?

If a user has purchased the listed tokens or has a subscription plan, the structure (matrix) commissions are also distributed in EUROGROSH token.

 

What is the withdrawal processing period for EUROGROSH token?

Each withdrawal request of the EUROGROSH token is processed within 48 hours from initiating day.

 

GROSH token principles

How to get GROSH token?

One way is to receive a commission from a user within your structure who spent GROSH token for purchase of listed tokens.

The second way is to receive GROSH token as a staking reward.

The third way is to receive GROSH token from another user through the Transfer Balance option.

 

How to exchange (swap) GROSH token?

Initiate GROSH SWAP through the back-office order and system will exchange your GROSH into EUROGROSH via swapping process, where specific amount of EUROGROSH, accumulated from network daily activities will be used for this operation. Details are explained inside Geton Staking Protocol

 

How to transfer GROSH token?

Initiate a transfer balance order through the back-office and send GROSH to another user (Grossus blockchain wallet).

What about a commission from buying with GROSH token?

If a user has purchased the listed tokens or has a subscription plan, the structure (matrix) commissions are also distributed in GROSH token.

What is the exchange (swap) processing period for GROSH token?

Each swap request of the GROSH token is processed through the Staking Protocol, when a proportional amount of tokens, deducted (purchased), has been sold inside the Geton Ecosystem.

 

Conclusion

Deposits from EUR or BTC transactions are resulting in EUROGROSH tokens.

Geton users are motivated to sell or resell listed tokens to interested buyers. But if users sell tokens to a buyer who pays with EUROGROSH, they (and the structure) will receive payment in EUROGROSH, which is liquid and payable within 48 hours.

The basic idea to understand the principle of staking inside the Geton Ecosystem is:

  1. When you set a desired number of tokens to stake, the system checks whether there is a double amount of set tokens available to create a double stake.
  2. According to the price change, the system is selling your tokens and the double staked tokens to buyers and on a daily basis transfers appropriate GROSH balance to your account (wallet). If you are receiving this balance on a daily basis, that does not mean that all tokens are already sold, hence your fixed daily income is accumulated and your withdrawal requests from this address can be in pending status for some time, and released when tokens from your stake are sold.

 

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