GROSH Coin deflation protocol and principles
GetOn StartUp Ecosystem is founded on blockchain principles, and to ensure each user a unique network address (Gx…), visible on a public ledger, where all transactions between addresses are shown public and with a timestamp, the ecosystem is developing a private – Ethereum based network – ready to fast and safe processing of microtransactions. The cryptocurrency which enabling and supporting flow and operations inside this private blockchain is GROSH Coin.
We are following the idea of Bitcoin where 21 M will be mined in total, when? According to Bitcoin mining confirmations, for each set of 210,000 block confirmations blockchain protocol releases a particular number of new Bitcoins and distributes them between miners of Bitcoin. From the initial 50 BTC per one block, every further set of 210,000 blocks releases half less of Bitcoins – that is called “halving” – it means splitting to half (50 – 25, 12.5,…).
GROSH Coin total emission is 210 M and is pre-mined, with an initial value 1.00 EUR. The supply of GROSHCoins is not increasing (like at Bitcoin) but GROS Coin is a deflationary cryptocurrency, hence the amount will decrease and the GROSH Coin capitalization will always be 210M EUR, just price of the particular unit will accordingly increasing.
GROSH Coin distribution protocol was “GROSH Mining STAKE” and release of GROSH Coin between holders was processed from March 2020 till March 2021, according to the following principles:
- user set chosen amount of listed token (cryptocurrency) to the “GROSH Mining STAKE” for 100 days.
- a system set double amount of same token (cryptocurrency) to the same “GROSH Mining STAKE” for 100 days.
- to both staking participants system was released for a period of 100 days pre-mined GROSH Coins – from 0.75% to 1.25% per day – depending on the value of the stake.
- according to a price change, regulated through DPMC, the system was deducting tokens from both stakes and manage the same EUR value like it was at the moment of opening that “GROSH Mining STAKE”.
- all deducted tokens were sent into the token (cryptocurrency) project liquidity pool from where buyers were buying them according to the following rules:
- 45% of purchase value went to buyer’s sponsor (mentor) structure members as selling commissions
- 55% of purchase value was used to exchange pending GROSH token exchange to EUR or BTC for withdraw or later GROSH swap into EuroGROSH. Orders were processed according to their timestamp – moment of initiation.
According to exactly one year of processing “GROSH Mining STAKE”, GetOn StartUp Ecosystem has released a total – 210,000,000 GROSH Coins and collect (buy-back) 173.733.663 PiplCoin, 1.931.226 PronCoin, 3.717.321 Geton Coin, and 153.128 LOS tokens. The estimated value of these tokens (cryptocurrency) is over 500 M EUR.
Users been never forced and have no obligation to set their tokens (cryptocurrency) to “GROSH Mining STAKE”, nor now they are not obligated to use staking version TSPE (Token Sale Practise Exercise) stake, which is comparing with “GROSH Mining STAKE”, not limited by time but only with selling activities of users and their structures.
From 31.03.2021 GetOn StartUp Ecosystem is processing with GROSH Coin deflation process (burning of GROSH Coins) and we will systematically destroy the appropriate amount of GROSH Coin according to the following principles:
- GROSH Coin exchange into one of the listed token (cryptocurrency)
- GROSH Coin exchange into WeWe Point – according to GetOn cooperation with WeWe Global
- GROSH Coin swap to EuroGROSH which will be used to exchange GROSH Coin SWAP orders:
- EuroGROSH received token sales from GROSH Coin system liquidity pool to users which are opening Geton wallets through a system referral link.
- EuroGROSH received from listing fee from future GetOn StartUp Ecosystem partners.
GROSH Coin burning (destruction) events will be processed each last day of the actual month. The first such event will happen on 29.05.2021, the date when Geton company celebrates the third anniversary of its incorporation.