Types Of Merchant Tokens
Merchant Tokens may be issued to replace traditional discount coupons, gift vouchers, prepaid
cash cards, and loyalty points.
▪ Cash Tokens: used as pre-paid cash to buy products and services
▪ Discount Tokens: used as discounts to subsidise the regular cash price of products and services
▪ Loyalty Tokens: used to replace loyalty points to redeem rewards
▪ Gift Tokens: used as gift vouchers to send to friends and family
▪ Travel Tokens: used as portable currency to spend globally in network merchant stores
So, you will have different types of tokens? Or we can exchange Gatcoin for this types of tokes?
The difference between GAT Coins and merchant tokens is explained in the whitepaper on pages 7 and 8. Here:
GAT Coins▪ ▪ Available during token sale
▪ ▪ Limited supply of GAT Coin
▪ ▪ Will circulate on the main Ethereum public network
▪ ▪ Freely transferable
▪ ▪ Tradable on major exchanges
▪ ▪ Storable in all major client-wallets
▪ ▪ May not be directly exchanged for merchant products
▪ ▪ May be exchanged for merchant tokens on the GAT exchange
Merchant Tokens▪ ▪ Not available during token sale
▪ ▪ Used to redeem rewards, products and services
▪ ▪ Unlimited supply and variety
▪ ▪ Issued by participating merchants
▪ ▪ Will circulate on private consortia GAT networks
▪ ▪ Not available on the main Ethereum public network
▪ ▪ Storable only in the GAT Wallet
▪ ▪ May be exchanged for GAT Coin and other Merchant Tokens on the GAT Exchange
I read here that the transfer of the GAT (token/coin) will be free? But you will have to pay some GAS to transfer ETH tokens? Or am I missing something.
I think gat team want to say they will free trade fee. network always need gas to send transaction then there is no way (as I belive) to have free transaction on eth network
In this case freely transferable means that you may exchange GAT Coins at will after the ICO is over, there is no period that they must be held for before they can be traded.
What will happen to the unsold tokens?
Will they be burned?
Unsold tokens will revert to the GAT Foundation, an organisation seperate from us Devs whose purpose is to maintain the viability and stability of the GAT Coin as the currency of the GAT Exchange. We will be releasing more information on the GAT Foundation prior to the token sale. But like Levyashin I hope we don't have to worry about unsold tokens!
Does anyone know if they will release a beta of the mobile app before ICO?
I'm not allowed to say anything, but lets just say that our Engineers are working over time at the moment and I don't think you will have to wait till 2018
Also Ben and I try to monitor this forum as much as possible but sometimes we miss questions which I apologise for. If you want to engage with more of the Dev team please sign up to our Telegram
https://t.me/gatcoin our Founder/CEO is very active there and also considerably smarter than me so its a great place to ask questions as well!