Los Angeles, Calif., July 24. 10, 2021 (GLOBE NEWSWIRE) — GeFi is a blockchain platform that decentralizes gem mining by providing their native crypto tokens – GEG and GES which are tied to the value of the gems. It is built on Binance Smart Chain (BSC), the native blockchain of the world’s largest cryptocurrency exchange – Binance.
Along with access to gems, GeFi also offers a unique NFT Marketplace, a platform for users to trade, trade, stake and participate in lucrative yield farming. For this, GeFi has implemented some of the leading decentralized finance (DeFi) protocols from around the world. Additionally, GeFi’s protocol supports pooling with reduced impermanent loss.
GeFi tokens are trending in the crypto space and the project has two native crypto tokens GeGem (GEG) and GeStone (GES)
In Phase 1 of their initial stake pool offering (ISO or ISPO), GeFi released a total of 57,000 sGEG tokens for $4 per sGEG token. And guess what, all 57,000 sGEG tokens sold out within 3.7 seconds of launch. Yes, it only took 3 minutes and 7 seconds to raise $228,000.
For those who don’t know, ISO refers to the financing of a development project by creating a pool of participations. In this model, developers collect all rewards from block validation and in exchange provide project-native tokens to delegators.
After the successful Phase 1 presale, GeFi announced its Phase 2 ISO public sale from July 12, 2021 UTC 1200 to July 22, 2021 UTC 1200. In Phase 2, GeFi released 85,500 sGEG tokens for 5 $ each.
This time, early GeFi adopters rushed to buy the Phase 2 presale and bought all the tokens in 7 days. In this Phase 2 presale, GeFi raised $427,500 in a record 7 days.
While a huge number of people bought sGeG tokens in previous token presales, some people missed their chance. If you are one of them, don’t worry. While a huge number of people bought sGeG tokens in previous token presales, some people missed their chance. If you are one of them, don’t worry. Phase 3 presale is ongoing (at time of writing). Phase 3 has an availability of 142,500 sGEG tokens for US$6 each.
GeFi takes yield farming to the next level. Their GeFi Vault optimizes returns for each participant using their auto-compounding smart return mechanism. To achieve this, GeFi uses its dynamic harvest optimizer to unlock the highest APYs for its chests.
Also, you don’t need to manually adjust your repositories, GeFi does it for you. Their protocol automatically switches your funds between multiple protocols for the best returns. GeFi’s auto-composition smart contracts are battle tested and employ the best yield optimization strategies.
GeGem token holders will receive monetary incentives (for most active users) and privileged access to items on GeHub and GeGame.
GeStone Token (GES) will soon be launched and token holders will be able to buy, sell and discover exclusive digital assets and physical products from the largest digital gem and jewelry marketplace for NFTs and crypto collectibles and access blockchain powered games and also:
- NFT Trading Card Game – Collect valuable NFTs
- Farm Game – Farm your avatar to get NFTs
- Battle Game – Fight and conquer your opponents’ NFTs in-game. Here you can buy virtual lands, mine exciting items and make new friends.
GeFi is indeed a promising project. It has gem-linked crypto tokens, an NFT market, yield-farming vaults, and blockchain-powered games. Nevertheless, this project is very young. The project will only have value if it keeps all its promises.
To learn more about GeFi, check out their social media –
Discord – https://discord.gg/r3x9ES8hp8
Telegram Channel – https://t.me/GeFiOfficial
Telegram Community – https://t.me/GeFiCommunity
Gitbook – https://info.ge.finance/