Trying our Token Auction Smart Contract

We have recently deployed our Token Auction on Ethereum and it is located at

0x48F230D47914cBE8F223344b7763f064336e8FA5

Token Auction is a smart contract on Ethereum that enables on-chain exchange of standard tokens. In this iteration, settlement happens once a day with an externally fed but publicly verifiable settlement price. An external price is used instead of the equilibrium price so as to jump-start the liquidity of the auction and prevent price gaming due to initial low liquidity. It is an alternative to centralized and decentralized exchanges and is the primary way to obtain our gold token, GCT.

The natural question is, how can one easily interact with it? Ethereum is still under heavy development including many plans for better user experience but now we will require some tools to interact with the auction. Fortunately, we have created a gui for it which can be accessed at

https://gcteth.codetract.io

Try to visit it in a normal web browser and it should display the message “No Network Found”. This is because the browser is not connected to the Ethereum network and is unable to interact with the smart contract. One program that can connect to the Ethereum network is Mist. You will need to download and run the program. It is a gui to a Golang implementation of an Ethereum node (geth). Do note that it could take some time for it to work as it will need to download the historical transactions so that it can verify that your copy of the chain is valid. Once that is done, you can follow the below gif to access the auction.

Access auction in Mist

You should be able to see values such as time left and last session's price being read from the smart contract. Furthermore clicking on the buttons allow you to participate in the auction to buy or sell GCT.

Similar to Mist, there is also a Rust implementation of a node (Parity). With Parity running, you would be able to access the auction from a normal web browser as seen in the gif below.

Access auction in Parity

Another simpler way is to use MetaMask. It is a chrome plug-in and does not require the download of historical transactions thus can be used right away. With MetaMask installed, you can access the auction as seen in the gif below.

Access auction with MetaMask

After getting your hands on some GCT, you will be able to transfer it like any standard token. You can add GCT in Mist as seen in the gif below to easily check your balance and transfer it to another address.

Add GCT in Mist

You can also check your GCT balance at our gold site or at a block explorer. Do try out our auction with small amounts and let us know what you think! You can sell back the GCT for ether.

For more information on our projects, visit our website and read our whitepaper.

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