July 14th, 2019
It is our absolute pleasure to announce that TREOS has achieved a monumental milestone. Our GCR to TRO Token Conversion Event (TCE) will commence August 1st, 2019.
The TREOS Origin (TRO) TCE is available to the public and forms an instrumental part of our strategy to distribute our tokens to as many people as possible to fuel our platform.
When the TREOS project was first conceived, the intention was to use the publicly known cryptocurrency, GCR (Global Currency Reserve) as the fuel token for the project. As the TREOS ecosystem evolved, it became clear that the network behind the GCR coin lacked both the development capability and the necessary support needed for growth. This combined with the release of blockchain networks such as Ethereum, Cardano, NEM, and EOSIO meant the GCR coin could not provide an adequate foundation for TREOS on which to build its platform.
The choice made after much consideration was to begin developing on the EOS blockchain, which has led to greater developments and the deployment of our first TREOS utility token, TREOS Origin (TRO). These tokens hold a stable price to facilitate e-commerce use cases, encourage transparency, and can be easily updated upon community consensus as the technological landscape progresses.
We have been working diligently to remain within the regulatory guidelines of the MFSA (Malta Financial Services Authority), communicating closely with our VFAA authorities and legal teams. Through this collaboration, we are able to present to everyone what we feel is a fully transparent and appealing opportunity to benefit all who participate. The idea of TRO and its deployment in a not-for-profit TCE was formulated to provide GCR token holders with the opportunity to participate in the Conversion Event which would, in turn, allow them the ability to access the TREOS ecosystem. After the 60-day Token Conversion Event concludes, any TRO tokens remaining will be designated to be distributed via Giveaway or the Bounty Program to the TREOS community through remunerations and rewards.
All GCR coins used to acquire TRO will be distributed into numerous public cold storage wallets with access (private keys) destroyed, technically removing the GCR from circulation.
Event Details: (TL:DR)
When? Aug 1, 2019
What? Token Conversion Event, GCR:TRO 1:1 “conversion”
Where do I buy GCR? You can buy GCR now on Yobit or Cryptobridge
As stated above, the GCR coin is a coin that lacked the necessary infrastructure for expansion. After being delisted by Bittrex, CCEX, and Coinpayments, the only available exchanges are the two above. There are no plans for further listings after the completion of the Token Conversion Event. This is possibly the final option and use case for the GCR coin before all support is discontinued.
How long do I have? The TCE will last 60 days, ending Sep 29 2019
How do I convert my GCR? Sign up to be a merchant or consumer at treos.io where you can deposit your GCR and convert to TRO in the wallet section. You must convert your GCR to TRO manually as you will need to agree to the terms and conditions of the TCE. Step-by-step instructions will be made available to all community members, both crypto beginners, and experts.
What is the value of TRO? All TREOS tokens are anchored to values of gold. The TRO token is anchored to the stable value of 1g of gold (currently $45 USD).
How do I sell my TRO? You will be able to sell your TRO in our new economy through the TREOS Fuel Store. TRO acquired by the GCR conversion event can only be sold through the fuel store via the “TRO UBI wallet”. Customers who are interested in buying items on the marketplace platform will purchase your TRO using other cryptocurrencies in the store (BTC, ETH, LTC, etc).
This seems too good to be true! This TCE is a vital part of fueling our economy and we are depending on our Community to help. As a GCR holder, you are the catalyst to many components of functionality within the ecosystem. Without the opportunity to convert GCR to TRO, we would not have the ability for users to buy and sell items, making your participation in this event essential. We believe in freedom of success and TREOS wants everyone to be able to benefit from our efforts.
What are the risks? Having the opportunity for our users to purchase GCR as an open market coin on an exchange minimises risk due to the fact they are able to buy and sell as they see fit. One item to note would be that if TCE (Token Conversion Event) participants do not convert their GCR coins before the 60-day period concludes, they then lose the opportunity of gains in an improved utility token with updated infrastructure and network capabilities. TREOS is not affiliated with GCR coin in any way and does not manage its blockchain.
*Full Terms & Conditions will be available upon commencement of the TCE. This opportunity should not be considered financial advice. You do not need to partake in the TREOS TCE to use the TREOS Marketplace and Ecosystem.
Join us on our social channels!