To usher in the #cryptospring on January 1, 2024, we will launch a series of Private Token Sale. This event marks a significant milestone and presents an opportunity for you to shape our future. Before reading any further we suggest you familiarize yourself with the basics of token sales.
What is Grindery?
Grindery is a BinancaLabs S4 company with a proven team and product traction.
We, Grindery, are a company backed by Binance (Labs S4) and other strategic crypto players like Near, Algorand, Optimism, DFG/JSquare Capital, Perridon Ventures, Gate.io, ANKR, MH Ventures, and others. On of the co-founders Tim Delhaes has developed several blockchain projects and products since 2018, winning multiple hackathons. When Grindery joined BinanceLabs 2022, Marc Dengard, Christian Geissendoerfer, and Thinh Porrman became part of the project as co-founders. Today, we are a lean, globally distributed team of engineers and entrepreneurs led by two active co-founders.
What is our product?
Today Grindery provides a self-custodial EVM Smart Wallet for Telegram.
With over 600.000 sign-ups in less than three months, Grindery is building the world’s most popularself-custodial EVM Smart Wallet for Telegram. Smart Contract Wallets are a new technology that allows users to buy, pay, play, swap, stake, and transfer across major blockchains without worrying about managing passphrases, private keys, or acquiring different gas tokens for each blockchain.
Following PayPal's footsteps from over two decades ago, Grindery will leverage its vantage point as the most widely used smart wallet to become an expansive payment network inside Telegram. The Smart Wallet is the foundational infrastructure to create a vibrant ecosystem for merchants, DApps, and protocols. We will create a seamless and integrated commerce experience, allowing for smoother transactions, enhanced security, and industry-leading convenience.
Some of the products the team has developed in the past - such asgPay andFlow - as well as research into decentralized automation andoptimistic cross-chain protocols, might become part of future offerings.
What is Grindery's GX Token?
GX is the currency that powers all Grindery tools and transactions.
The GX token is a utility token, a universal currency that powers all activities in the Grindery network. It allows users to pay for gas across all blockchains, enabling them to send, play, swap, bridge, and stake. In short, it is needed for every user for every activity on the network. It also enables token holders to vote and guide the project's future. In short, it tokenizes the entire Grindery ecosystem's value and vision. In thetokenomics, you can learn more about the GX and its utility.
What is Grindery's G1 Token?
The G1 is a social token to grow the network that users can exchange to GX in the future.
The G1 is Grindery's social token, with its issuance beginning in early September 2023. Initially intended for technical testing and incentivizing user sign-ups and referrals, the G1 has succeeded remarkably. Today, it represents our broad and diverse user base, boasting over half a million token holders. The first utility case for the G1 token is its role in identifying Grindery's Most Valuable Users (MVUs). These MVUs, determined by their G1 holdings and usage patterns, qualify for the private token sale. In other words, the amount of G1 you hold and how you have utilized it will be a crucial criteria to determine eligibility for some of the private token sales.
The G1 token is set to expand its utility, allowing participation in third-party quests and airdrops and rewarding activities within the Grindery network. In the future, it will also enable the redemption of GX tokens, although the specific date and exchange mechanism between G1 and GX are yet to be defined. This exchange process is anticipated to be determined by the community, possibly through a DAO or another governing body. Notably, the GX token has allocated nearly 30% of its total to the community, primarily for this purpose. However, it's important to clarify that G1 cannot yet be used to purchase or redeem GX tokens during the upcoming private token sale.
For more detailed information about G1 and GX, including their total supply and issuance, please review thetokenomics in ourdocumentation.
What is Grindery's roadmap?
Acquire user, acquire user, acquire users.
We have delivered an easy-to-use product to the market. Our next steps are to sign up as many new users as possible and make them use it. For companies like Grindery, with a first-mover advantage, user acquisition is the top priority and key to success.
More specifically, this means
- In 2023, we will add basic DeFi features like bridging, swapping, and on/off-ramp. We will also experiment with increasing the utility of the wallet and G1 token directly and with partners.
- In January 2024, we will conduct a series of token sales with the object of funding the project and empower our users to leverage this funding into further user acquisition.
- For the product, our primary focus of Q1 2024 is to make it entirelyself-custodial, enabling the gas tank and withdrawal. We will experiment further with the utility of the wallet and tokens.
- We will single-mindedly focus on user acquisition to reach several million sign-ups, build a federation of EVM projects for Telegram, and get Telegram to unlock the attachment menu feature.
- On the way, as the market turns bullish, we will list the GX token on major exchanges and allow G1 token holders to exchange for GX under the seld-governance of the community.
⠀Again, many things can seem important in an ambitious venture like this. However, the priority is user acquisition and laying the ground for a powerfulnetwork effect. Almost everything else can be achieved after that.
Why is Grindery selling the GX Token?
Raise funds needed to execute our roadmap.
To achieve our goal, we will need the right people and sufficient capitall. We believe that bringing our token to the market will serve both goals. On one side, it gives us access to diverse funding sources and creates economically incentivized partnerships with strategic players. On the other hand, it will allow us to work with the community and source the people and talent we need to accomplish our mission.
How will the GX Token be sold?
Multiple private token sales will have different validation and conditions starting on the 1st of January 2023. While we intend to make public token sales and list our tokens, no dates have been defined yet.
These are the upcoming token sales:
Private Sale 1 | Private Sale 2 | Private Sale 3 | |
Start Date | 01.01.2024 | January 2024 | Q1 2024 |
End Date | 03.01.2024 | January 2024 | Q1 2024 |
Token price | U$ 0.036 | Not defined | Not defined |
Min. Purchase | U$10.00 | U$100.00 | Not defined |
Max. Purchase* | U$1000.00 | open | Not defined |
Capped total | Yes | Yes | Yes |
Priority | First comes first serve | First comes first serve | Not defined |
Restricted to | Any Grindery user | Any Grindery user | |
White listing | Closed |
- per Grindery user account.
Why purchase GX tokens?
The G1 combines a hughe, inmediate market oportunity, with a traction tested product.
Our short terms focus is to rapidly acquire millions of users, as it is the fastest way to multiply the value for users and investors. By purchasing the GX your are supporting in this short term objective as well as long term vision of a global, easy to use crypto payment network.
Why purchase during the upcomming token sale?
Get the GX at the same price as top-tier investors.
Grindery has raised money from private investors, including Binance (Labs S4) and other strategic crypto players like Near, Algorand, Optimism, DFG/JSquare Capital, Perridon Ventures, Gate.io, ANKR, MH Ventures. At the upcoming private token sale, qualified users will be able to pruchase the token at the last obtained valuation by these investors.
How can I purchase GX tokens?
Buy GX with any supported token directlyGrindery Telegram Bot.
The GX token will be available forwhitelisted users, only via theGrinderyAIBot and only inside Telegram. You can purchase the GX with any of thesupported tokens and blockchains directly from yourGrindery Wallet. This means you need to deposit tokens for payment ahead of time since the allocation is on a first comes first serve basis.
How will I receive the GX token?
The GX tokens will be delivered via a vesting contract.
All GX tokens acquired during either phase of the token sale will be locked into a vesting contract for two years, as outlined in the tokenomics. Vesting contracts are a common and standard practice in token sales, ensuring a controlled and secure distribution of tokens to buyers. Upon purchase, you will receive an NFT in your Grindery wallet, enabling you to redeem your GX tokens once the vesting period concludes. The vesting contract, provided by Hedgey, is transparently available for review on-chain. Additionally, Hedgey has been audited several times.
How much will the GX token cost?
In “Private Sale 1” the price of GX will be $0.036.
During the first private sale, the token will be priced at U$0.036 each, based on a valuation of U$36 million and a total supply of 1 billion tokens. In the subsequent token sales, the token price will be higher, leading to an increased overall valuation. The price for the future sale has not yet been determined and will likely be set following the conclusion of the first private sale. For more details, review ourtokenomics.
Any limitation or "fine print"?
All tokens have a 2-year vesting period.
All GX tokens purchased during the private token sales will be subject to a two-year vesting period. This vesting duration is consistent with that of the founders and previous investors, as detailed in the GrinderyTokenomics. As already defined in the token purchase process outlined in this same document, Grindery will utilize a vesting contract to manage this vesting procedure for all token holders including future buyers, investors, the community, and the team.
How much will the GX token be worth?
We can not predict nor guarantee any future token values.
The future value of any token, including the GX token, is influenced by numerous factors such as its utility and prevailing market conditions. Grindery does not predict or guarantee the future value of GX tokens. While we cannot predict future token prices, we can point out that the GX token is priced and sold during a low point of the crypto market and before any major utility features have been released. Grindery has also not conducted any major PR and as a result, has not been featured in crypto, tech, or mainstream media. We strongly encourage every participant in the token sale to conduct their own research and reach their own conclusions and decisions regarding their purchase. Token sales, whether private or public, are intended for informed and knowledgeable buyers within the crypto space only.
When will the GX token be listed?
We intend to list the GX token but no date has been defined yet.
We believe the timing is everything. As a result, we want to make sure we generate the best mix of sufficient user traction with the best market conditions. While we believe that the timing is good - or perfect - for a token sale, we believe that listing can and should wait. A listing date between potential ETF approval and secured Bitcoin halving can be considered attractive. We commit to keeping our token holders and the general public informed about any new developments related to the token listing.
When can I purchase the GX token?
15.1.2024.
The GX token will become available for purchase starting January 1st.
During what token sale should I purchase the GX token?
- Private Sale 1: This is for you if you are a reallyactive user and you want to secure a small amount of GX at the lowest valuation. Whitelisting is open → Start here!
- Private Sale 2: This is for you if you want to buy larger amounts and/or do not want to participate in quests and airdrop activities. Whitelisting is open → Start here!
⠀The two private token sales are not mutually exclusive and you can participate in both.
Private Sale 1 | Private Sale 2 | Private Sale 3 | |
Start Date | 01.01.2024 | January 2024 | Not defined |
End Date | 03.01.2024 | January 2024 | Not defined |
Token price | U$ 0.036 | Not defined | Not defined |
Min. Purchase | U$10.00 | U$100.00 | Not defined |
Max. Purchase* | U$1000.00 | open | Not defined |
Capped total | Yes | Yes | Yes |
Priority | First comes first serve | First comes first serve | Not defined |
Restricted to | Any Grindery user | Any Grindery user | |
White listing | Closed |
- per Grindery user account
How do I get ready for the token purchase?
Simply activate the Wallet, deposit tokens, and startwhitelisting.
To participate in either of the private token sales, you need to follow these basic steps:
1 Become a User by activating theBot: First, sign up as a user and activate yourGrindery wallet. We recommend familiarizing yourself with our product by sending and receiving some G1 tokens and engaging in basic DeFi actions.
2 Deposit the Purchase Amount: Deposit your intended purchase amount in any of thesupported tokens into your Grindery wallet. The number of tokens you can purchase will be determined by the amount deposited in your wallet. Priority will be given to users based on the date of their deposit.
3 Apply for Whitelisting: Depending on your preference choose the private sale you prefer and start the whitelisting processhere.
⠀How else can I participate and potentially obtain GX?
We have many ways to work together to grow Grindery. Here are the simplest ways of getting started;
1 Promote Grindery to your Telegram contacts: To find a way to do that simply go into the GrinderyBot and type /actions to see a list of things you can do.
2 Participate in groups: many small and large groups have mereged where our users are supporting each other and spinning out new ideas and strategies. Join and see where it leads!
3 Exclusive influencer program: For the period leading up to the token sale selected influencers get privileged access to information, material, and rewards.
