Geton Whitepaper

Geton Whitepaper

Posted on : 04 May, 2022    |    Last Update - 6 months ago   

A white paper is a research-based report which offers a focused description of a complex topic and presents the point of view of the author or body represented by the author. The purpose of a white paper is to give readers understanding of an issue, which in turn helps them solve a problem or make a decision.


 

Geton Whitepaper (EN)

Geton Whitepaper (SLV)


 

The mission and vision, presented in Geton Startup Ecosystem Whitepaper's COMPLETED and as it is - CANCELED!

I am Milan Kozlevcar, founder and creator of Geton Startup Ecosystem. My first noticeable engagement with tokenization and blockchain was in 2017 when I started project PiplShare with the ERC-20 token, PiplCoin. Designing a platform on which freelance translators and other similar professions could promote their services, connect, and perform transactions in dedicated cryptocurrency has evolved for a decade. I decided to implement it in the PiplShare platform, supported by the cryptocurrency PiplCoin. We started with work and development. People talked about what we were doing, and several entrepreneurs who had similar wishes or wanted to tokenize their idea visited our office. We made agreements to become a development partner to help with token deployment and directions about Whitepaper and possible token listings. The primary purpose was not a token but a platform. This fundamental business could expand and grow by rewarding users according to their activities, increasing the project market share.

We created dedicated cryptocurrencies PronCoin and CarbCoin, for them. Later, I similarly got involved in a few more projects. Still, the time has shown maybe we did something exciting and hard to understand, or the original teams did not continue their initial vision for several reasons.

However, I realized that the world might need an environment where innovative cryptocurrency-based business models would receive adequate support for growth and expansion. Models in which day-to-day activities such as employment, education, shopping, travel, entertainment, etc., will be able to take full advantage of new technologies and bring a better quality of life to all in general. Above all, my motivation was a belief that the modern world can understand, use, and treat cryptocurrencies differently, more securely, and more effectively than a mere "speculative" instrument.

A kind of ecosystem has begun to emerge based on several logically and effectively interconnected platforms:

- GetonPlus - register of InstantBeta projects, platforms to release tokens from undistributed (Business Development supply) to users through their activities. According to the J-curve graph, those activities trigger the DPMC mechanism. Cryptocurrencies earned in this way were received by users directly into their ERC-20 wallets and traded on the open market;

- GetonDirect together with GetonFund - a mechanism for the direct purchase of cryptocurrencies on the open market, thereby increasing demand, and consequently prices or at least liquidity and their injection back into the ecosystem.

- GetonExchange is an exchange platform where ecosystem users can trade with cryptocurrencies - at a price dictated by the DPMC.

- GetonNews - the official channel for ecosystem news and information.

We had the idea and challenge to create a platform, where 100 to 300 new users might enroll in the ecosystem each month. Hence design the registration through a system of recommendations - referral link - no one can register if the existing user does not invite them (and explain where, how, and why to register). The fact is that this was unimaginably fast, and we gained over 15,000 new users in one month. According to the DPMC model, the way of rewarding created a rapid growth of the ecosystem price of cryptocurrencies PiplCoin and PronCoin. The technical design of the platforms, notably PiplShare and GetonPlus, and GetonExchange have failed to support "microtransactions" in the Ethereum blockchain network effectively. Regardless, we have increased our capacities more than ten times.

Later we present to the community the "Grossus Blockchain," a kind of internal network set up on the structure of official cryptocurrency wallets. All cryptocurrencies used are ERC-20, and everyone can check and track all primary data on etherscan.io. The System wallets (Business development Supply, Ecosystem Community Supply, Liquidity Pool, and Assets deflationary pool) technically represent the "cold wallet." Transfers between them occurred at intervals when a certain number of packet processing transactions had accumulated. On the other hand, users carried out transactions technically supported by SQL databases within the ecosystem.

Due to the unexpected volume of new registrations, we placed the procedure in a multi-level invitation mechanism, with different percentages depending on the individual level.

Essential platforms were no longer able to support market demands effectively, so we divided this "user" part into:

- Project platforms - structures of InstantBeta projects - PiplShare, PronWorld, and later GetonHealth and LifeOnScreen, and;

- Marketing platforms - GetonTrading, PremiumGetonTrading, and GetonGlobal. These were structures for promoting and trading in these cryptocurrencies.

The marketing platforms were based on the "Grossus blockchain" using GossusCoin (GROSH) as a fuel. The trading mechanism that used the token DPMC model to form the price of cryptocurrencies was built into the buy and sell trading orders, GROSH Stake.

Traders (users) who acquired the appropriate cryptocurrencies on InstantBeta platforms were able to:

- open a GROSH Stake for 100 days. After 100 days, such a stake has the same value in the cryptocurrency used, plus a reward in GROSH coin. That "rewarding" process was a distribution from undistributed supply and represented a proportionate amount of GroshCoin flowed into circulation.

- Traders (users) were able to exchange the income (sell GroshCoin) in the "withdraw" mechanism inside the Grosh exchange pool - later upgraded to "GROSH Swap."

- Traders (users) who entered the ecosystem or wanted to buy additional cryptocurrencies with GroshCoin were buying them from the exchange pool - according to the timestamp of the sales order sequence. The buyers of these vouchers were users who bought GroshCoin through the "deposit" mechanism - thus buying a GROSH voucher that they could use to buy cryptocurrency or pass it on to others. The seller received the revenue in EUR to the specified bank account and/or in the form of BTC to the provided BTC address.

- Traders (users) were always buying cryptocurrencies through the Grosh Mining stake mechanism from those selling them with a 32% and 45% discount, respectively, with GroshCoin. Mechanism assigned that income into the structure above the buyer (their invitees). Cryptocurrency sellers received from 68% to 55%. The system charged a 1% commission on transfers.

- GroshCoin was pegged to 1 EUR, currently 1.20 USDT.

- For each GROSH Mining Stake, a liquidity pool system that accumulated those cryptocurrencies purchased by the ecosystem due to the operation of the DPMC mechanism with GroshCoin created twice the value of the same trading order for each GROSH Mining Stake order. By 10 March 2021, 210 M GroshCoin had been distributed among traders (users) of marketing platforms. The Grosh Stake mechanism results that approximately 1/3 of available cryptocurrencies had been collected in the liquidity pool. The exact balances are presented in the "Official wallets."

At the end of 2020, it became clear for the first time that the community may not want this kind of innovative environment for the development of tokenized projects. Still, all prefer to trade cryptocurrencies in a "speculative" way. Hence, the appearance of a mass of "fake news," various malicious acts, and a general misunderstanding of the Geton concept. Indeed, all users have their cryptocurrencies constantly available. They can use them according to the possibilities offered, but by no means has Geton ever been a platform for investing, investing money for interest, or managing users' assets. Everyone has always just traded the cryptocurrency they have - either through organized mechanisms or in the global market, but it can also be directly among users through the OTC.

I spent the whole of 2021 searching for and creating and providing additional options that would bring cryptocurrency holders closer to the idea of ​​Geton at an understandable level. Even TSPE Trading Order, POS Stake, GetionEstate, and several versions of PiplShare and GetonHealth did not generate any interest.

I did not abandon the idea of ​​an innovative environment for developing everyday projects supported by cryptocurrencies. However, it is absolutely crystal clear to me that:

1. The presentation, implementation, and management of such an environment should allow access only to users with a basic knowledge of cryptocurrency management. At the same time, the concept presented in the Whitepaper should be understandable and agree with them. Everything else can only lead to unrealistic expectations, disappointment, and the search for inappropriate ways to resolve the situation.

2. Therefore, for all these reasons, I interrupt the implementation of the mission and vision of Geton presented in the Whitepaper. We will combine most of the platforms into a primary two or four. We will freeze InstantBeta projects. As a matter of priority, the authors of these projects have the opportunity to use Geton's public announcement and explain to the community (over 300,000 unique users) how they see the continuation of their project. Another option for interested in projects is to use the available options according to a specific protocol and communicate transparently and responsibly with the community.

3. I realized that Geton users (holders of assets) want just one - to sell their assets and forget to Geton forever.

4. The ecosystem pricing model (DPMC) has been completed manually. With the transfer of undistributed (Business development supply) to the liquidity pool. All ecosystem cryptocurrencies now have a final price that will not change. Cryptocurrency balances are publicly available at Ecosystem supply.

5. We have developed GetonLedger - an open, public blockchain based on the Ethereum protocol. Every registered user will be able to transfer all their cryptocurrencies from it based on the e-mail address with which they are registered in each platform and manage them via the MetaMask tool.

The balances that the user will have in the wallet on getonledger.com will be able to:

1. Transfer to Binance SmartChain via "bridge" and use them for trading (swap) on GetonSwap.com

2. Use the Trading Order option on GetonTrading and sell its cryptocurrencies at the ecosystem price. Trading incomes are and will be possible to transfer to the desired address.

3. Through the "bridge," it is possible to transfer to GetonLedger those cryptocurrencies currently available globally, especially on the crex24.com exchange, and trade them within the stated possibilities.

The Trading Order option is limited until the end of August 2022. If the community wishes to continue it, we will hold a public vote in terms of DAO. There is also the added option to further upgrade functionality if the community accepts it using MetaCoin, the GetonLedger blockchain fuel.

All details regarding the steps and the implementation of the process of merging platforms and implementing the "bridge" for ecosystem cryptocurrencies and the use of Trading Order functionality will be sent to registered users by e-mail and published in the official Telegram group or explained at the official ZOOM conferences.

In September, we plan to organize a public and press conference in Ljubljana, Slovenia.

We will officially carry out Geton's activities through the GetonInvestments MyGetonWallet, GetonLedger, GetonSwap, and GetonSupport platforms - the official source of information - subordinated to the Terms of Use.

Milan Kozlevčar, CEO & Founder

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