So by now I think you all know what $gifu is, if not I will leave some info at the end of the post.
So from now on I figured I'll be making a weekly recap since I am a volunteer team member and a big holder.
What a week this has been! Let's see some numbers:
- 818k gifu permanently burnt this week! Yes, that's thousands. Remember, there's no inflation so circulation only goes down. You can see all the burns live here. As of today over 50 million have been burnt or 5% of the supply.
- Team bought back 400k coins from market thanks to the various assets it holds that generate $$
- 880$ added as liquidity on the Pancakeswap pool
- One more utility added. If you hold gifu on hive, you get votes from @gifufaithful. The more you hold the higher the vote. Minimum to have is 50k, max is 5 millions.
Thanks to the buybacks on hive engine and the burns on bsc the supply is only tightening, imo it won't be long before a new ath is achieved. Nfa :)
Tldr, not bad, dunno if you know many other tokens with burns, buybacks, real utility etc Oh, and cool gifs.
Next Plans
The team is now focusing on the Bsc side of things, where the money supply is wayyyy bigger than hive engine. Our first goal is to get listed on coingecko and coinmarketcap.
What is $Gifu? You said utility?
We started as an utility token disguised as a meme on bsc exclusively. Our initial utility was to have our artist(s) create gifs for other projects (some clients include splinterlands and @thebbhproject) but since then we continually evolve. So burns from gif sales is our first utility.
$gifu was then listed on hive-engine (as swap.gifu) and in the last 6 months the team has acquired lots of hive power and significant bags in various hive engine projects like power ventures (by @empoderat), RUG by @silverstackeruk, bbh by @bradleyarrow and others. All these bring a constant stream of revenue for buy backs on hive engine. I'd say this is the second utility.
The team also recently launched @gifufaithful,a delegation/curation bot for holders. If you delegate you earn gifu with a 10% Apr. And if you hold gifu you earn votes on your posts. Votes start at 0.75 % if you hold 50k gifu and linearly go up to 75% if you hold 5 million gifu or more. The bot needs to be constantly fed with gifu. This gifu comes exclusively from the market, remember this is a deflationary coin! It also incentivizes buying and holding. This is our third utility and I have a feeling it will change the economics a lot in the next couple months. And that's our third usecase
Needless to say, the team is always brainstorming with ideas to expand our usecases.
I'll tag @lordbutterfly since he loves crypto with real utility. Or so he says 🙃
Where to Buy
There are three places to buy/sell gifu. 5 best ones are the bsc and hive engine pools. Plenty of liquidity on both:
And you can try your luck on the open he market not much liquidity though there.
Ok, this is it for this week's recap 😀
Posted Using INLEO
