mazieres Thank you for your interest in our project.
I'll try to answer on all questions in details.
It sounds like you are basically providing an anchor for USD along with a nice interface for establishments and users to connect.
Yes, it's an anchor. However, we use name GFT instead of the USD because GFT token was designed specifically for gift-certificates, and it's not a fiat representation or security. Securities are a subject to strict regulations in the US (see The Howey Test) and other countries.
I don't understand what the fees are going to be
Fees depend on the way you are using GFTs. In case of the 2THE.PUB service, the fees will be 0% for Wire and ACH/SEPA transfers, and 3% for Credit Card and PayPal withdrawals. For EasyGifts service we are planning to charge flat 1% fee in addition to bank fees on all operations (gift card purchasing, funds withdrawals). The pricing for enterprise integration depends on the specific requirements. Moreover, any person will be able to buy GFTs instantly from the Treasury with 15% fee.
How we can offer payment settlement completely free of charge for some services? You see, there's is a trick with gift cards which makes them so interesting for business. About 5 to 12% of all paid gift cards are never redeemed. We are using this clearance to cover all USD transfer costs:
- Credit card charging fees (1.5-4%)
- International transfer fees (0.2-1%)
- ACH/Wired payout fees (1-4%)
The more transactions our platform process, the lower bank fees will be.
In particular, you are offering to pre-sell the tokens for $0.25 on the dollar. What is your plan to recoup the extra $0.75 so that your GFT token can eventually trade at parity with the dollar?
First of all, there will be two discount sale phases: a promotional presale (0.25USD/GFT, up to 5 000 000 GFTs) and funding phase (0.7USD/GFT, 33 000 000 GFTs). See the roadmap for more details.
The GFT Treasury will reach approximately 60% liquidity upon the successful funding milestone completion.
Of course, there will be a lot of withdrawals immediately upon official GFT Treasury launch. We expect that about 20-30% of all issued tokens will be exchanged for USDs in the first few days after launch. Our investors are ready to cover payout spikes.
The promotional campaign strategy contains several offers intended to encourage early adopters to spend their GFTs in 2THE.PUB partner venues. We will pay additional 20% for tokens spent in partner restaurants during the first few months after launch. In that way we are planning to push first sales and spread the word about our platform and services. In combination with the temporary enlarged minimum withdrawal amount these offers will help us to deal with first mass-sale spikes.
According to our calculations, the negative dynamic will last no more than two months after the GFT Treasury launch. We expect GFTs will reach 100% own funds capitalization by the end of 2019. You can read more on it here.
Why should people initially value GFT at $1
It's one of the most important things in the whole concept. That's why we are working with major crypto-exchanges to make GFT tokens freely convertible, and ensure trust. That way will be able to compete with Tether on the exchanges.
