Globe, a cryptocurrency derivatives exchange, has announced that on May 4, 2021, it will conduct GDT token sale facilitated by three different decentralized exchanges. Notably, the initial DEX offering will be conducted on Ignition, Superfarm, and DODO platforms.
According to the company, it anticipates selling up to 3 million GDT tokens at $1 per unit. Thereby raising $3 million from the sale if conducted successfully. Should the firm successfully sell all the set GDT tokens, then it will have a total market capitalization of $21 million.
Globe’s GD token is an ERC20 utility token that has various use cases on the Globe ecosystem. First, GDT token holders have access to reduced trading fees depending on the bag size. Secondly, the firm anticipates integrating GDT tokens to enable users to pay trading fees in the future on the platform. Thirdly, the asset is set to be used as a governance token on the Globe ecosystem.
Notably, Globe opted to distribute GDT tokens via different platforms to ensure equitable distribution.
“Through this Initial DEX Offering, Globe aims to provide equal access to the GDT token globally. An IDO is the best way to do so, as Ignition, Superfarm, and DODO have built up a strong reputation for such token sales. Investors note a high return on their investment for all tokens sold through this launchpad,” Globe noted in a press release.
Globe aims at revolutionizing the future of the digital assets market by developing a cryptocurrency exchange with the latest technology. The firm aims to use the funds at developing the next level of financial exchange that meets customers’ demands. The company noted that anyone interested in the token sale will need to go through a whitelisting process.
For those who will miss out on today’s initial DEX offering, the company has noted that it will conduct an initial exchange offering on Gate.io on May, 6, 2021. Additionally, the firm anticipates to undertake a liquidity Bootstrapping Pool facilitated by Balancer Exchange. “Through the Liquidity Bootstrapping Pool, potential investors will engage in fair price discovery to acquire GDT at their preferred price,” Globe noted in a press release.
Globe is backed by various venture capitalists and investors including Y Combinator, Tim Draper, and Pantera Capital. The firm aims to provide a fast ultra low latency crypto derivatives exchange that is faster than NASDAQ stock exchange.