GemHUB Auction Swap Event
Participate in GemHUB Auction Swap Event!
Hello, this is GemHUB Team.
Easy, Convenient and Entertaining Blockchain Game Platform GemHUB will be preparing launch of our platform and game in Q2 of 2022. Through the Auction Swap event for 2 weeks before the service launch, we’d like to supply initial liquidity of GHUB, the token of GemHUB project. In addition, an airdrop event will be performed where GHUB token is airdropped to participants of the Auction Swap event.
Auction Swap Event Announcement
Auction Swap is the swap event where a swap ratio with new token is generated by using a token that has already its market price. Through a bid result of a token listed to centralized-decentralized exchange, the swap ratio with a token newly issued is determined. The swap ratio is exactly determined, depending on how much KLAYs do people pay for 12,000,000 GHUB.
KLAY secured from the Auction Swap will be used to create GHUB-KLAY pair pool in KLAYswap. Also, when tokens for each game are issued, KLAY pair pool will be generated if necessary. It will be able to be used as the amount of reward when creating GHUB single pool in the long term.
Purpose of the Auction Swap
1. To let many people know about GemHUB and GHUB token, and distribute GHUB token to the market.
2. To form a price of GHUB not by an issuer on its will, but by an expected value in the market consisting of unspecified individuals.
3. To prevent excessive “pump & dump” in the initial stages of the official launch
Event Period of the Auction Swap
Bidding: March 22nd, 2022 19:00(GMT+9) ~ April 4th, 2022 19:00(GMT+9)
Token Distribution: April 6th, 2022 09:00(GMT+9).
How to Participate in the Auction Swap
1) Prepare the amount of a token for bid in Kaikas wallet. Tokens for the GHUB Auction Swap are as follows.
- KLAY / BORA / WEMIX
- You must have a small amount of KLAY(1 or less) to pay network fees.
- If BORA or WEMIX is deposited to bid, a token is automatically swapped according to the price of KLAY at the time for bid, and accumulated to the amount of bids.
2) Access the GemHUB Auction Swap Webpage, and Connect Kaikas wallet.
https://www.gemhub.net/auction
3) Select a token for bid, and Set up the amount of token.
4) Check Expected Value GHUB, and Click Deposit. Click Confirm on the window of transaction confirm. Then bid is completed.
5) There is no minimum-maximum KLAY quantity or limits on the number of bids per wallet. However, if the total number of KLAY bids exceeds the hard cap, only the amount of KLAY bids for the hard cap achieved will be applied and the remaining amount will be returned.
6) Refer to the below image for details and follow the steps.
Auction Swap Details
The total amount of GHUB allocated to the Auction Swap is 12,000,000.
The soft cap and the hard cap are set in the GemHUB Auction Swap.
- Soft Cap(1,440,000 KLAY): means minimum standard to measure the success of Auction Swap. If the total number of KLAY bids does not exceed the soft cap, the auction will be canceled and all KLAY will be returned to the bidder. It is refunded in swapped KLAY to people who deposit BORA or WEMIX to bid.
- Hard Cap(4,320,000 KLAY): means sold out of Auction Swap. If the total number of KLAY bids reaches the hard cap, the auction will end immediately, regardless of the remaining period of Auction Swap.
Based on the soft cap(1,440,000 KLAY) and the hard cap(4,320,000 KLAY), the swap ratio will be determined. If the total number of KLAY bids is the soft cap(1,440,000 KLAY) when the Auction Swap ends, 1 GHUB will be exchanged with 0.12 KLAY. On the other hand, if the total number of KLAY bids is the hard cap(4,320,000 KLAY), 1 GHUB will be exchanged with 0.36 KLAY. The swap ratio is not divided into the soft cap and the hard cap, but set in the way of increasing to the hard cap in proportion to the amount of KLAY received in the bid after the soft cap is achieved.
There is no minimum-maximum KLAY quantity or limits on the number of bids per wallet. But the Auction Swap will end when the hard cap is achieved. Also, the amount of KLAY in the bid can be received to the amount of the hard cap if the total number of KLAY bids exceeds the number of the hard cap.
GHUB Distribution Details
How to receive GHUB: Connect your wallet used to bid on the webpage/KMINT app and Click ‘Claim’.
In order to relieve sudden distribution of GHUB to the market after the auction swap event, GHUB of the Auction Swap will be distributed linearly over one month.
Auction Swap Boosting Airdrop Event
To encourage people to participate in the Auction Swap Event, GHUB team will distribute 2 million GHUB every second for 2 weeks to participants of the Auction Swap. As GHUB is distributed in proportion to the number of KLAY bids every second, it is beneficial to participate in the Auction Swap as quickly as possible. GHUB to be airdropped is provided at once at the first Claim during the distribution period of the Auction Swap.
We are very much looking forward to your interest and active participation in the GemHUB Auction Swap event.
[Event Notices]
● Participating in the event using inappropriate methods and/or bringing harm to operation of the event may result in a cancellation/retrieval of your reward.
● Collecting data, start and end time of the event are based on the server time. Please note that there may be a difference from the smartphone time.
● The event can be changed or ended without prior notice depending on the company’s circumstances.
GemHUB
Homepage : https://www.GemHUB.net
Twitter : https://twitter.com/GemHUB_Protocol
Medium : https://medium.com/GemHUB
Telegram Announcement: https://t.me/GemHUB_Protocol_official
Telegram Chat: https://t.me/GemHUB_Protocol
