Gixely Coin ICO (GXL Token): Blockchain Lottery Crypto System?
As cryptocurrencies and blockchain technology continues to be developed and popularized, new companies continues to crop up, offering new and exciting ways to employ the same old technologies. Though the initial uses of Bitcoin involved almost exclusively commerce and trade, strides made by brilliant minds, entrepreneurs, and engineers have made a multitude of things possible.
The ease-of-use for content and program creators on the Ethereum blockchain has allowed the creation of hundreds of different types of cryptocurrencies and crypto-based companies and organizations.
GixelyCoin, in many ways, epitomizes a pioneering attempt to create a self-sustaining and reactive economic community based around a central, decentralized currency. This guide will evaluate the project, from start to right now, in order to provide potential investors with all the information needed to make a sound decision regarding when and if to get financially involved with this startup.
What Is An GixelyCoin?
GixelyCoin is the cryptocurrency created for use withinthe “Gixely Coin community,” an exclusive group of members who trade and use the coin for various things within the community. Though it is unclear how one may be considered a member of this “exclusive” conglomeration, there is ample information available on the kinds of activities that one might participate in while in possession of these coins.
It is important to note that, as far as the website explains, the platform does not facilitate the trade of alternative currencies between members, but instead relies entirely on their own Gixely Coin for the facilitation of financial interactions.
There exists a limited supply of the coins in circulation. Though this is the industry standard for altcoins, it is important to note that this does ensure some sort of insurance for investors that the currency cannot be purposely deflated by the creation of more coins than the hard cap would initially allow for.
Gixely Coin Community
There are several things to do once one has managed to get their hands on some Gixely Coins.
Perhaps the most interesting thing to come from the community are the three lotteries offered by the community. The first lottery functions more as a simple gamble than a sophisticated lottery; players roll a die and can win, depending on how much they gamble, up to 2% of the money spent on the ticket each day. This is called the “Gixely Knight” lottery.
Next, the “Gixely Rook” lottery provides a more traditional pool-based lottery. After a week of ticket sales, ten people are randomly selected and given varying percentages of the ticket sale profit for that week. First place receives 30% of the ticket sale, while second place receives 20%, third gets 10%. Fourth through tenth place receive 5% of the total ticket sale. Only 5% of the profit is reserved for the development of the community and the business.
The final gambling option, “Gixely Queen,” is not expanded on within the site.
Gixely ICO Details
- Token Symbol: GXL
- Token Sale Starts: May 2018
- Total Supply: 30 Million
Invest In Gixely Coin
Naturally, this cryptocurrency company provides potential investors the option to contribute to the project, to get in on the ground floor of a growing and unique business.
Currently, the site is in the Pre-sale stage of the ICO, or Initial Coin Offering. Though 2 million coins available during the pre-sale period and the price is fifty cents per coin, this will increase to 8 million coins capped in the main ICO, though the price ill stay the same.
At this point, it is unclear how and when investors are paid dividends for their investment.
Interested speculators should consult the company’s white paper for the latest information concerning investment.