GTO hath passed. Long live GFT!
Today marks a momentous occasion for Gifto as we leap towards a bold new future! A token swap, launch of new products and a broader gifting scope, we are ready to make it a giant leap forward. Let’s get started!
New Token: GFT
Gifto is excited to announce the upcoming token swap from GTO to GFT, a new token on the BNB Chain, with a 1:1 ratio swap from GTO to GFT. The total circulating supply, which is equal to the total supply as of today, will remain the same at the time of the swap at 1 billion tokens.
The GFT contract address is: 0x72fF5742319eF07061836F5C924aC6D72c919080
The launch of GFT will be accompanied by an annual inflation rate of 2% over the next 4 years, giving GFT holders access to two exciting features:
- Holder-oriented: Staking. 1.5% of the annual inflation will be allocated to staking rewards. The annual percentage yield (APY) of these rewards will vary based on the size of the Gifto staking pool. This has been a long-awaited feature by the Gifto community, and we had already unveiled it on Twitter.
- Social-oriented: Charity. Gifto is excited to extend the gifting concept to giving away and therefore contribute to charitable causes with 0.5% of the annual inflation to those who need it the most for, at least, four years. These funds will be directly allocated to Binance Charity, the first-ever blockchain-enabled transparent donation platform, which covers some of the missions we believe they’re most important to our society nowadays: reducing poverty and supporting education.
In addition to these features, the GFT token helps to streamline the dual-token structure (ERC20 and BEP2), simplifying the current blockchain model, by migrating to the BNB Chain, which offers pretty low fees and optimised efficiency for gifting.
The GFT token swap of GTO to GFT will take place in Q1 2023. Discussions are ongoing with exchanges where GTO is listed to support it. If you hold GTO outside of exchanges, a comprehensive guide with instructions on how to manually swap through the GTO to GFT Token Swap Portal will be released. Please stay updated for further information.
The GFT token launch will enable to expand the Gifto ecosystem through the introduction of the centrepiece of the product line-up: the first-ever Web3 wallet on the BNB Chain, allowing Gifto holders to store their GFT, fav tokens and NFTs.
This new wallet is planned to become a more-than-a-wallet in the long term.
Some of the planned offerings for this wallet include:
- GFT Staking
- Other Autofarm’s vaults for additional yield farming opportunities
- Red packet system for gifting
- Support for Holidays and Special Occasion Gift Card events
- Gifto Store: A marketplace-like for content creators and fans to sell Web3 gifting content
- …And more!
At its core, Gifto’s mission is to provide a way for holders to gift blockchain presents such as tokens, community prizes and NFTs in the form of e-cards, PFPs, generative art, red envelopes, among others.
The Gifto Store will be the decentralised venue for content creators and fans to monetise their NFT art and other gifts, allowing users to give them away to their loved ones.
Additionally, Gifto has many novelties to roll out such as metaverse gifting, red packets for Twitter, a multi-task earning Telegram bot that rewards users for completing tasks oriented to crypto communities and KOLs and a batch distribution system for NFT gifting.
While we will be working hard to bring these innovations to life and had originally planned for some to be developed within 2023, we understand that certain factors may hinge upon unforeseen circumstances that may require the Gifto dev team to adjust our product release schedule. Despite any possible readjustments, the Gifto Web3 wallet and Gifto Store will remain our main priorities for 2023.
- Token Swap: GTO becomes GFT, a new token in the BNB Chain (BEP20) with a 1:1 ratio swap and an unaltered total circulating supply of 1 billion tokens with a 2% annual inflation rate for at least 4 years.
- Release of Gifto’s Staking platform
- Donation to Binance Charity: Support important projects and initiatives that improve the lives of individuals and communities in need.
- Development of a brand new GIFTO Wallet: an easy-to-use Web3 wallet with NFT support.
- Gifto Store: a marketplace-like platform within the Gifto Web3 wallet for content creators and fans to sell their gifting content, including NFTs, with a redistribution system for creators and burn mechanisms.
- Integration of a Red packet system within the Wallet for gifting.
- Seasonal holiday and special occasion gift card events, such as red envelopes for Chinese New Year
- NFT gifting Distribution system: one-click solution for giving away part of the whole minted collection to a set of blockchain addresses.
- Gifto Rewarding Bot for Telegram: users can earn virtual points by completing tasks and redeem them for eligible coins and tokens, including $GFT, $BUSD, $BNB, and $BTC on BSC, with a focus on crypto communities and influencers.
- Gifto dApp browser extension for Twitter: users can send red packets as P2P gifts.
- Integration of the Gifto Wallet on social media.
- Metaverse gifting: integration of the Gifto system within BNB Chain metaverse projects.
- B2C implementation of Gifto: tailored platform to allow businesses to release virtual gifting campaigns (NFTs or $GFT, $BUSD, $BNB,…) for their customers.
- Recurring yearly donation to Binance Charity.