Gather: A New Era – Ecosystem Update
Posted by Isil Kilkis on January 10, 2022
Dear Gather Community,
We are happy to announce that we’re ready to resume Gather Online on January 25th, 2022, with reduced rewards (10% of the total amount =~ 240,000 GTH / month), the remaining 90% will continuously burn during this period (~2,170,000 GTH / month). Rewards will continue to increase pro rata as the revenue increases until we reach 100%.
As most of you know, we have decided with a governance vote to halt Gather Online as a deflationary measure in August. We have decided to re-calibrate our strategy & make these necessary changes to stand strong against deflation & to sustain a healthy and balanced supply & demand dynamic. 15 M+ GTH which were generated during the pause period will be burned with the go-live.
Following the December 12th Ascendex Hack & recent developments of the last weeks, as an addition to our existing Liquidity Pool on Uniswap, we’re also starting a new $GTH Liquidity Providers Incentive Program on Binance Smart Chain which will be live on PancakeSwap next week. Deep & healthy liquidity on the $GTH token is the key to our ecosystem, firmly supporting our community members and clients. This Incentive Program will reward our liquidity providers on GTH (BEP20) — BNB trading pair on PancakeSwap.
$GTH (BEP20) and BSC bridge is going live on 11th of Jan, 2022 – Tuesday, using Connext’s infrastructure to have our cross-bridge platform, signaling the beginning of a multi-chain Gather Ecosystem.
BSC LP Pool Details: 23,000 $GTH (BEP20) / day proportional to your pool contribution.
With the BSC liquidity program coming live, existing Uniswap LP rewards (28,000 $GTH / day) will be reduced to 20,000 $GTH (ERC20)/ day. We expect deeper liquidity with a new audience and with healthy distribution between these two networks eventually where Gather will be rewarding 43,000 $GTH / day in total to incentivize liquidity providers.
On other news, Gather Enterprise took over a $600,000 contract for the development of POS Software to transact using $GTH tokens, for the cash management purposes via ATM machines. As a part of our tokenomics strategy, a part of the gross profits ($200 per node) will be airdropped to all masternode holders in $USDT on Thursday, January 13th. Meanwhile Red Beard Ventures has taken a large position in our Series A round. We also hired a new Head of Investor Relations (in-house employee) to speed up the closing of Series A round.
On incubations, the seed round for Paidtogo is closed as a first example of Gather’s incubation process, utilizing Gather’s extensive network. For the next step, whitelisting for private sale with exclusive benefits to $GTH holders will take place in the first week of February.
Our other incubee, a new DEX; GatherSwap ($GTHx) whose name & ticker were chosen by community vote, started its development process.
On the cloud side, Gather has been successfully audited for ISO 27001 at the end of December 2021 and we are now waiting for our certification as a last step for being ISMS compliant (Information Security).