Geeq Token Update

By: Geeq  on Jul 7, 2020

Greetings and salutations Geeqs, we have had a lot of questions regarding our launch strategy of late, so we would like to update the community on a few changes that we need to make, to ensure that the Geeq project is as successful as possible.

Having commenced our pre-round just before the Coronavirus worldwide pandemic occurred and became the talk of every corner of the planet, we had a set structure in place and viewed this process a whole lot differently than we do now.

However, moving from a fast-moving world, to a standstill almost overnight proved a challenge. We would be lying if we didn’t acknowledge that it changed our structure, approach, and focuses at the time and still has an effect on us now.

During these long work windows, many conversations occurred and we were brought to a very interesting crossroads, that we now feel we are in a position to share with the community as to what they were, and, to pass on the outcomes from the decision we made and what the contents entail.

Firstly, with our early supporters being there for us we felt the need to be as transparent as possible. With the way the industry has adapted and changed over the last 3 months, we feel we are in a position to be able to offer something different and improve upon blockchain projects “norms” that are offered already.

At Geeq we like to not just think outside of the box, and so we are happy to announce the following:

  1. We now have a set in stone closing date for both round allocations of tokens. The 31st July 2020.
  2. We have decided after much deliberation that we are not going to proceed with a public round.
  3. We will be offering all of our pre-round supporters that have, or will have contributed (on or before the 31st July) to the Geeq project, the option to further their support and increase their liquidity by acquiring some of the unlocked-round at the set public allocation price but with no lockup period. In short, Instantly liquid token generation event distribution for those that wish for it.
  4. Any tokens that are leftover from the pre-round and unlocked-round will be placed into the $GEEQ liquidity pool with a 6 months lockup. This will mean fewer tokens in our circulating supply at launch if this occurs.
  5. We plan to initially have liquidity available via decentralized exchanges upon the completion of the initial token generation event (TGE) which will take place shortly after July 31st.
  6. We have stepped up our awareness campaign and will be working on campaigns with those that we feel are trusted pillars of the cryptocurrency and blockchain industry to bring more awareness to Geeq. We are actively seeking other BaaS projects looking for solutions to problems that they already hold, alongside being open to collaborative and mutually beneficial blockchain partnerships too.

This broken down will mean that all of our supporters that are happy to be here and support us long term will also have the opportunity to have some $GEEQ earlier and help support themselves and the project sooner. These tokens from the unlocked-round will still have the same terms in regards to instant liquidity and the tokens will be available to the contributors at the earliest dates available.

Example: Customer A has acquired 1000 tokens in our pre-round, which have a vesting period that has 6 releases over 3 months. He can now acquire more tokens from the unlocked-round which will have no vesting period and offering instant liquidity upon the completion of the initial token generation event (TGE).

These changes will not affect the overall tokenomics, but may result in fewer tokens in initial circulation.

We hope you can see from the above decisions that we want what is best for both Geeq and our great community of supporters, we will keep pushing forward at full speed to bring Geeq to the world and allow businesses to have access to the most secure blockchain as soon as possible.

Thank you for your continued support.

The Geeq Team.

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