We continue sharing the answers from the AMA session with Crypto Talkz that took place late September!
Q. What other ways to enjoy and earn GIIS?
Brilliant question!
So, there is actually a path within the token-holder perspective. Those who are willing to get an instant compensation can do so, but also, there is a second approach where we lock the initial tokens and let them prosper for a year. Obviously, if within this timeframe the price hasn't covered and surpasses the value lost - the insurance kicks in. But if the value is greater, then the owner not only gets the full benefit of a safe investment, but also gets to earn on top of that.
So, that's just within the insurance system itself. But also, we have a Bounty programme, just like I promised that we'd touch on it. Basically, anyone, who's, perhaps, not a holder of any of the applicable tokens, can still gain via the programme.
Here's a doc (from the website itself) to help better understand the possibilities and the criteria: https://www.lh-crypto.com/download/GIIS_Bounty_Explained_EN.pdf
If one is impatient - they have a chance to 'cash out' and move on. But if one is a crypto enthusiast and aims to capitalize on the initial investment - we have it covered too!
Q. What are your expectations about GiisInitiative both future and present? Are you satisfied at present for your project progress and success? What types of motives should be expected from your investors and users?
To be honest, all we are currently looking at is to cover more projects, reach out wider and get more onboard. It is pretty simple, yet takes most of the time and effort, as there is a whole process of onboarding the project, including the technicalities, not to mention negotiations with the token holders and the owners of the projects.
In terms of satisfaction - it is going rather steadily, of course one can wish for it to be quicker, but I guess that’s anyone project’s magical dream! =)
What we were probably not expecting, but rather hoped for, is for the project owners and the holders to be more upfront in terms of reaching out to us - it would greatly help us save some time!)
Q. Could you tell us how to purchase GIIS' token? When will you have pre-sale, private sale and public sale events? And how to have a slot in these events?
Right, that’s where some of the confusion comes in, I guess. Let’s clarify!
So, under the GIIS, we are not selling some new tokens, we are not running a whole new ICO with the pre-ICO and other related events. It is more of a system, a protocol if you must, that helps the 'less fortunate' projects to continue developing, whilst protecting the token holders from the downfall of token value. That is the partnering projects tokens' value, not 'our own tokens’! Hope it makes sense and clarifies things a little!
Q. It is important to anticipate, calculate and hedge risks whenever possible. do we carefully review projects to avoid scamming ICOs? What characteristics must a project have to be accepted by GIIS?
Sure, it is very important to hedge the possible risks. Especially, for us, as the insurance underwriter, so we do not have financial losses if the project is merely a scam. That’s why we actually created a separate factoring department (just like banks have) to choose, examine and carefully select the projects to work with. We obviously don’t take some 'no-name' ICOs that no one ever heard of, not because they are not so interesting, but because the amount of work required is the same as with the other project, but would help less holders and smaller stakes are at question. So, to sum it up - sure, we do have specialists that make sure the projects in question are real and not some crypto scams.
Q. Your service compensates the market value of various coins that have lost market value. What procedures do I need to take to get a coin reimbursed? Is it simple to have a coin refunded?
So, it’s actually quite simple, subject to the project being accepted in the first place.
So, as the owner of the project can reach us and discuss this partnership, we also allow the holders to get in touch and pretty much vote for it. This is done since many projects actually get abandoned by the creators, so they don’t respond at all. Nevertheless, if the holders of the same token reach out to us on a large scale - we can try to assist them and see what we can do. If that is the case - our main page actually has al l the info for the token holders to apply! It’s followed by a quick questionnaire, but it helps us understand the project in question as well as filter some of the possible scammers too!
https://giis.lh-crypto.com/
