Recently, the project rolled out two pre-sales offering their sGEG crypto tokens. The response to these presale offerings was overwhelming, so much so that their Phase 1 tokens worth $228,000 were sold in a record 3 minutes 7 seconds from the launch.
GeFi is a blockchain platform that decentralizes mining of precious stones by providing their native crypto tokens – GEG and GES that are pegged with the value of gemstones. It is built on Binance Smart Chain (BSC), the native blockchain of the world’s largest cryptocurrency exchange – Binance.
Apart from access to precious stones, GeFi also features a unique NFT marketplace, a platform for users to trade, swap, stake, and participate in lucrative yield farming. For this, GeFi has put together some of the leading decentralized finance (DeFi) protocols from across the globe. Also, 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 the 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 were sold within 3.7 seconds of their launch. Yes, it took only 3 minutes 7 seconds to raise $228,000.
For those who don’t know, ISO refers to financing a development project by creating a stake pool. In this model, developers collect all the rewards of block validation and provide native tokens of the project to delegators in exchange.
After the successful Phase 1 presale, GeFi announced their Phase 2 ISO public sale from 12 July 2021 UTC 1200 to 22 July, 2021, UTC 1200. In phase 2, GeFi released 85,500 sGEG tokens for $5 each.
This time too 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 considerable number of people have bought the sGeG tokens in the previous token presales, some people have missed out on their chances. If you are one of them, don’t worry. While a considerable number of people have bought the sGeG tokens in the previous token presales, some people have missed out on their chances. If you are one of them, don’t worry. Phase 3 pre-sale is ongoing now (at time of writing). Phase 3 has an availability of 142,500 sGEG tokens for $6 USD each.
GeFi is taking yield farming to the next level. Their GeFi Vault optimizes yields for every participant using their auto-compounding smart yield mechanism. To achieve this, GeFi uses their dynamic harvesting optimizer to unlock highest APYs for their vaults.
Moreover, you don’t need to manually adjust your deposits, GeFi does it for you. Their protocol automatically switches your funds between several protocols to get the best returns. GeFi’s auto-compounding smart contracts are battle-tested and they use best-in-class yield optimization strategies.
GeGem token holders will get monetary incentives (for most active users) and privilege access to items on GeHub and GeGame.
GeStone Token (GES) to be launched soon and the token holders can buy, sell, and discover exclusive digital assets and physical products from the largest digital Gems and Jewelry marketplace for NFTs and crypto collectibles and get access to blockchain-powered games and also:
- Collectible NFT card game – Collect precious NFTs
- Farming game – Farm your avatar to get NFTs
- Battle game – Fight and conquer opponents’ NFTs at stake. Here you can buy virtual lands, mine exciting items, and make new friends.
GeFi is indeed a promising project. It has crypto tokens pegged with precious stones, NFT marketplace, yield-farming vaults, and blockchain-powered games.
Nonetheless, this project is very young. The project will only be valuable if it keeps all its promises.
To know more about GeFi, check out their social media channels –
Twitter – https://twitter.com/GeFiOfficial
Discord – https://discord.gg/r3x9ES8hp8
Telegram Channel – https://t.me/GeFiOfficial
Telegram Community- https://t.me/GeFiCommunity
Gitbook – https://info.ge.finance/