Receive crypto back from a share of the commission fees collected on any type of payment — crypto, card or mobile wallet
A word from the CEO
Dear GoCrypto community,
Creating sustainable, transparent and legally compliant tokenomics is a privilege in the crypto world. As a company, we have strived to create tokenomics since the beginning. Along the way, however, we also found out that, without continuous income and business models on the company’s side, no tangible tokenomics can really exist.
We are a company in traditional business, which might sound simple, but it is not. We are not a DeFi project or a standard crypto BS project, but are trying to hook our tokenomics to something that is real, i.e. happening on the physical market.
My goal today was to introduce Tokenomics 2.0, which is a revolution when it comes to the GoC token and, we could also say, in the entire crypto tokenomics sphere, BUT in order for this (2.0) tokenomics to see the light of day, I need to be 100% sure that the tokenomics is fully legally compliant. In the last few months, I’ve been working with multiple international legal counselors (from multiple countries) in order to collect as many green lights as possible. I hoped that one of the most important green lights would appear today (as it was already promised weeks ago), but it hasn’t. I will not take risk and harm the project in this way. For this reason, we decided together to only launch a really small portion of our tokenomics today, called version 1.1. The bigger part of the tokenomics will be launched in news no. 7 (expected February).
I’m really sorry, my bad, but I simply don’t want to risk it.
I will use the last two sentences that I wanted to release in our Tokenomics 2.0.
Ask questions, challenge our ideas and suggest improvements.
We don’t have a huge community, but it consists of amazing people helping our project grow.
Talk to you soon and don’t worry — good things always take time and our time is coming.
1. GoC Background and Tokenomics 1.0
GoC was created when Eligma decided to pivot towards crypto payments and quickly realized that the Ethereum blockchain fees are too expensive for daily small purchases. The ICO ERC-20 token ELI was exchanged for the SLP based GoC token on a 1:1 basis. Following the move, GoC’s utility and tokenomics were envisioned as it being the vehicle for all payments within the GoCrypto scheme and crypto-back rewards (same as cash-back, but in crypto) on every purchase within the GoCrypto scheme. The tokenomics idea was good as it incentivized transactions and use, but due to low transaction volumes, the tokenomics of the GoC token never really took off.
2. elly POS
Eligma will be launching its own developed holistic POS, called elly POS. The POS will bring a new dynamic to the market by enabling the processing of any form of payment, be it crypto, card or mobile wallet, together with additional smart features and versatility that will provide the merchant with secondary offerings and revenue streams. Currently, the majority of the market sees the POS payment processing terminals as a necessary evil. What Eligma does is bring the POS processing hardware at the center and integrate into it everything that a merchant and customer would need. Because elly POS is Android-based, it enables easy addition of any functionality that would be desired through various additional applications. To sum up the key features that differentiate elly POS from what is readily available on the market:
- All payments on one device — GoCrypto, various debit/credit cards (MC, Visa, Diners…) and mobile wallets / digital payments (Alipay, WeChat Pay, mBills…).
- Smart POS — no other hardware needed; everything that is currently done on multiple devices can be done on elly POS with the added benefit of including new services in the POS through different apps.
- Lower transaction fees and overall costs due to global partnerships with acquirerers.
- Lower set-up and running cost and decreased complexity on the merchant side.
- All-in-one merchant dashboard that gives a merchant a simplified overall transaction history from various payment options and choice of settlement in either fiat or crypto.
- Multiple level support via merchant dashboard, hotline, 2nd and 3rd level support on the hardware and software sides.
3. Tokenomics 1.1
From the very beginning, GoC was considered as a loyalty token. So far, the loyalty has been generated with crypto purchases on our network of GoCrypto POS solutions. With Eligma now entering the entire payments industry and also being part of more traditional payment methods (card payments, digital payments) through the launch of elly POS, GoC will now be able to reach customers of any payment type, not just customers that pay with crypto. With Tokenomics 1.1, we will introduce a new mechanism where, at locations that use elly POS, every purchase with any type of payment, not only crypto, will be rewarded with a share of the commission fee that was collected with the payment. The reward will be paid out in GoC, which will be bought on the open market. A print slip with a QR code will be generated with every purchase that you can swipe with a wallet that supports swiping and the GoC token, like the Elly wallet or the Bitcoin.com Wallet. As the GoC tokens will actually be put on the paper wallet of the print slip, any GoC that isn’t claimed will be lost in space forever.
This description is an approximation and is not definite. The content is not binding and may change in any type or form. The actual project may change once all project elements are finalized. Eligma and its members accept no responsibility or liability for the content of this post.