Topic: [ANN][GFT] 🎁 GFT - platform for e-gift cards built on the Stellar network 🎁 (Read 2802 times)

https://community.gft.network/uploads/default/original/1X/a23d879ad19b467904c6a9adb56f6dd09dc365be.jpg

Service Termination Announcement

Dear GFT supporters and presale participants,

Over the last few months, we had numerous conversations with representatives of banks and financial organizations located in 4 jurisdictions. However, we haven't reached an agreement that would satisfy our requirements by means of low-cost worldwide payment settlement. Without payment provider, GFT Network will be unable to keep the declared service fee rates on global gift certificate transfers.

In this light, we have decided that the best approach is to terminate the project and refund all our GFT token holders as we feel that it's the right thing to do in order to protect our early supporters.

Starting January 3 at 6:00 PM (UTC+0) the trade in GFT/XLM will be open on Stellar Decentralized Exchange (accessible from any Stellar wallet with DEX support or stellarterm). We will place a buy order to buy back all tokens for 2.0317 XLM per GFT. Owners of GFT tokens will thus be given the opportunity to sell all their tokens for a fixed price per token (~ 1.77 USD per token at the moment of publication).

This refund process will be carried out automatically before January 12, 2018.

Upon refund completion, all GFT-related public services and websites (including gft.network, community.gft.network, 2the.pub) will be terminated.

Please contact our support team ([email protected]) in case of any additional questions. We will work with our community on a case by case basis.

Our team is deeply sorry to make such announcements, but we have no choice at this point. We are really grateful to our supporters who believed in us and shared our vision.

This looks very worth watching.

The issue is lack of updates. So its hard to decide if we should continue supporting the venture or not.

Because of the price rise of XLM and BTC, refunding in USD values seems like such a poor return for the people who believed in you. Why not give them further reason to believe in you?

Or else, keep your promise and let all GFT tokens be redeemable for $1 as was claimed on your website.

During the community pre-sale GFT tokens were traded at 0.25 USD/GFT on multiple markets, including XLM, BTC, ETH, LTC, USDT, XMR, WAVES, ZEC, ETC, DASH, and others. Private investors purchased a significant amount of GFT tokens for USD and EUR.

We offer the same refund rate, 0.25 USD/GFT. XLM/GFT refund orders are updated daily, following the indicative XLM/USD exchange rate from CoinMarketCap (https://coinmarketcap.com/currencies/stellar/).

If you have any questions regarding the refund process, please send a PM with your case description. Our support engineers will do their best to assist you.

Can you please clarify the exchange rate for the refund? GFT tokens can be exchanged for the same amount of XLMs sent? Because I don't see those rates on the decentralized exchange.

Black Friday. US traditional sale that has already become an international trend. It's everywhere: on TV, radio, billboards, in your email box. And now it comes to the blockchain.

We are excited to announce the launch of the GFT Pay, checkout service by GFT Network. Our development team designed robust and flexible platform with simple integration into any website. It's a one-stop solution that features both product checkout and remittance services, uncovers unique blockchain payment possibilities for online retailers who want to accept GFT tokens.

This new option opens GFT settling instruments to a wide range of internet businesses: internet commerce, on-demand marketplaces, crowdfunding platforms, small business, and digital distributions.

GFT Pay is already working and you can use it to save on gifts for upcoming holidays! Don't miss the chance to order an amazing electric skateboard brought to you by the Char(G)iot for 999 GFT.

It's a limited Black Friday/Cyber Monday deal, only 25 skateboards are available at this price. Free worldwide shipping included! Purchase it here: https://chargiot.com/


The GFT Pay widget is designed to fit into any website. It can be configured to run in a popup or standalone mode. Price, shipping details, texts, images and other checkout settings can be configured in the admin interface. The service is built on top of the blockchain, so payment confirmations are immediate; the order can be paid in two or more transactions.


So far the service is available only for our enterprise customers, but we are planning to open it for public use soon.

Want to use our payment platform in your e-gift/e-commerce/loyalty projects? Build your own service on top of the GFT platform API. Contact us and we will offer a tailored solution focused on your business requirements.

(* charg(G)iot boards are manufactured and shipped by the Chargiot Co)

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It’s been a while since the last progress updates were published, and we have a lot of news to share.

Current status

During the last two months, GFT Network team has been working on the marketing material preparation for public service launch and platform improvements. The only thing still missing is the official financial institution behind the project.

Negotiations with potential partners take much longer time than expected. Although multiple banks and companies expressed intense interest in GFT Network, the existing legal system and regulatory requirements do not cover blockchain operational routines and taxation procedures. Such conditions result in continuous discussions with lawyers, management, and official regulators. Despite the confidence in the planned result feasibility, we have to admit that we are behind the schedule described in project roadmap. The GFT Treasury funding phase and service launch are delayed.

Due to this situation, our team decided to reach required tokens liquidity by establishing a partnership with consumer-oriented services and bring GFT tokens to online retailers in the first place, while our CFO and lawyers keep working on the original plans.

Currently, our developers are preparing the platform for API integration with 3d-party services, and we are planning to launch first online sale widget powered by GFT tokens in the following month. The roadmap and information on our website will be updated to reflect corrected plans.

GFT buy-back program

Our goal is to build a financial instrument fully trusted by people and companies. We appreciate credit of trust our community supporters gave us by purchasing GFT tokens during the presale phase, and we want to reassure you that we follow our liabilities. Lately, one of our early adopters sent us an email with the presale refund request. Following the principles of free exchangeability and circulation, we are establishing GFT buy-back program. Since today we will be regularly setting orders on the Stellar decentralized exchange, so anyone will be able to exchange GFT tokens back for XLM at the presale price.

Thanks for your support. Keep following us to receive the latest GFT Network news.

is it a died thread?

any update about the exchange?

There were a lot of attempts to adopt Bitcoin-backed platforms for micropayments in general, and gifting services in particular.

A few common problems of cryptocurrency usage in daily purchases:

• Extra-high volatility.
• Transaction confirmation period is much longer compared to credit cards.
• High transaction fees even on micropayments.
• To reclaim the fiat value, cryptocurrency needs to be exchanged on exchanges.

Who would purchase a gift card if nobody can tell how much it will cost tomorrow? For example, you want to say thank you to your partner for a help with some business, so you are sending him a gift certificate for a dinner in a cool restaurant. Just imagine how angry he would be (and how it would be uncomfortable for you) if he visits the restaurant in a week and the waiter says that he needs to pay 30$ more by himself (because Bitcoin and all other cryptos lost 20% of value during last two days).

With such volatility the Bitcoin (Litecoin, Ether, Dash, ) is not an option for e-gifts.


P.S. Sorry for the late response. Sometimes we just don't receive email notifications regarding thread replies from the Bitcointalk. 
Our support team will be manually checking for the forum replies in the future.

We aren't worried about the China. Our lawyers are working with the most recent regulatory acts in order to add some corrections in our terms of use before the public service launch.

Of course, the Chinese market is huge and it's one of our primary strategic goals. However, we can safely do without it.

In any case, we keep working on the project regardless of the situation on the market. We have some exciting news. Official update is to be published in a week or two.

I want know any update about the project?
I think you needn't worried what the China government would do.just do yourself

So, a fiat-backed cryptocurrency? Pardon my naivety, but isn't the point of crypto is moving away from fiat?

it's pretty good ,I would follow your project,it's pretty cool

Thanks for answering. Glad to see, I will be following  twitterm

As you could see from our previous post, we are preparing everything for the global start. It requires wide venue support and listing on top exchanges.

So far we can't say exactly when GFT token will appear on primary exchanges because news from China really shook all crypto-related businesses. The panic on the markets makes everything more complicated. Exchanges are changing their routines and procedures to match latest US and Chinese regulatory acts.

Nevertheless, the GFT Network team is determined to bring the product to market. We truly believe in the idea and invested a lot of time and efforts in GFT. The team will never abandon the project.

Follow us on Twitter to receive latest updates.

The Stellar network requires all accounts to hold a minimum balance of 20 + 10 * (count of orders or trustlines) XLM.
Therefore, you need at least 40 XLM (20 XLM reserved balance, 10 XLM for GFT trustline, and 10 XLM for order itself) + 0.00001 XLM for transaction itself to place an order on Stellar network.
You have only 30 XLM on your account, so the wallet shows an error.

When you set an order, you pay only transaction fee (0.00001 XLM), 40 XLM will be frozen on your account balance and you will be able to reclaim the whole amount later, after you sell your assets.

I asked devs to send you 10 XLM. Now you are able to place an order. You can see transaction details here: https://stellarchain.io/address/GDL5AYKUBWIETGGQYI23SXCD2C2NTIPVPEGUKTPYSQJN7ROOMKAHPR2A

In case of any further question regarding your account, please send us a direct message or e-mail ([email protected]).
This thread is for general questions regarding GFT Network only.

I like the E-Gifts From 2016, I'll try to support this project, have liked the idea & the developpement !
But let's wait until the devs appear and the team become officialy responsable of the project .
Good job, Keep going !

Dev abandoned the project? Please give us some insights.

why I can't see this coin?
I had about 6400 GFT
but I can't sell GFT to trade XLM