With
the explosion of the DeFi trend on today's crypto exchanges, it is difficult to
gauge the sustainability of a new token to invest in efficiency. Simply put,
for every DeFi token listed, the price of the token has skyrocketed, even up to
a hundred times. So how could we determine the potential of a DeFi?
Currently, DeFi is being
applied to key areas such as: Stablecoins (DAI, DAO), Borrowing and lending
(Compound), Decentralized exchanges ( Uniswap), Derivatives (Synthetix), Fund management
(SET), Lottery (PoolTogether), Insurance (Nexus Mutual), billing (Sablier) ...
In particular, the DeFi
belongs to the field of exchange and loans that are booming. The fact that
these DeFi coins are rapidly increasing in price will benefit the market and
professional traders, but the problem that arises now is that due to the trend
of making easy money - There are too many SCAM projects labeled DeFi to list. Too
many of them do not comply with the committed roadmap. In future, it will
affect the market and investors.
So
among the "DeFi labels", what is GES? And should we invest in GES
Token?
All projects that are listed
are rated for their potential based on the products they are expected to
develop as well as its development roadmap and potential shown on the
whitepaper. Before 2020, there are many successful blockchain projects by
anchoring their coins with reward gaming products, card games, casino games...
Through games, the demand of tokens is huge, so it burns quickly and proves the
value and the effectiveness of the project.
The trend of anchoring
projects to games is gradually receding and DeFi is currently on the throne.
DeFi has huge potential because with 1.7 billion citizens in the world
currently unable to have a bank account, DeFi is a way for them to easily
access financial services. Accessing DeFi Dapps only requires a person to have
a mobile phone & internet access, as opposed to going through lengthy
verification processes in bank. DeFi helps those in need of financial services
such as loans, those who need fast, low-cost payments, who need to quickly swap
their crypto resources for other currencies. , those who wish to benefit from
derivative services ...
GES Token issuance also
follows the advantages of the DeFi trend. Analyzing the whitepaper, we see that
GESGROUP is focusing on the following areas: P2P Lending, Paygate (Payment
System), E-commerce and DEX (Decentralized Exchange).
It can be seen that the
quite interesting point that GES commits to deploy is the P2P Lending service,
Kevin Tiep - Founder of GESGROUP CORP. said that there is a Fintech company in
Vietnam signed to apply GES's DeFi blockchain technology for peer-to-peer
lending services. With this technology, the company providing the loan service
will not hold the investor's or customers' money, the loan investments and borrowers,
and the interest rate will be determined by the AI. They will be auto matched
by the conditions in system. The service company will only receive a small fee
for maintaining the system and authenticating the User.
But what is the different
from other lending models in the world. The advantage relatively
"unbelievable" of this system is that the peer-to-peer lending
applies DeFi but will not have collateralized digital assets, small consumer
loans are entirely based on KYC of Customers are committed to confidentiality
by the Fintech company.
Currently, according to
Coingecko, the current DeFi models are not completely decentralized. Most of
them has one or more of these characteristics but not all: Non-custodial,
decentralized price feeds, permissionless initiation of margin calls, permissionless
margin liquidity, decentralized interest rate determination, decentralized platform
development. The current DeFi protocols are not completely decentralized, but
rather a hybrid model (Semi or Hybrid DeFi). The GES Paygate system is also a hybrid
system that is an intermediary and a swapped (interchangeable) payment module
between Tokens and Fiat.
Fintech companies using GES
Paygate can flexibly swap between asset types like tokens and Fiat... P2P
Lending borrowers and lenders can also choose loans by token. In October,
GESGROUP will also launch an e-commerce platform called Intime that uses its
paygate system. This is the E-commerce that uses both token and Fiat. User can
use tokens to buy consumer products.
Using tokens to buy goods is
complicated, but with the numerous intermediary payment system and conversion
models, this is entirely possible. And in GES Ecosystem, the adoption of P2P
Lending in e-commerce is feasible.
GESGROUP's CTO Tony Yu said,
at first they wanted to use the Permissioned Blockchain to be able to have
certain customizations and highly customizable. But then because to ensure the transparency,
GESGROUP had to change and completely use the Permissionless Blockchain. This
process took them more than 6 months to complete the paygate and introduce it
to their partners...
According to CEO Kevin, GESGROUP is also aiming to adopt blockchain
technology and DeFi trends in the field of energy management and is currently
focusing on the Southeast Asian market (now, there are a number of energy
companies using blockchain technology for management in Europe but with higher
cost). Next, GESGROUP will transform Gexchange into a decentralized exchange
(DEX) to take full advantage of what GES has deployed to its ecosystem. In
particular, the GES Token acts as an intermediary between the GES ecosystem and
other ecosystems, thereby bringing added value to all products.
With the IEO plan at the end
of August 2020, and the listing on Uniswap, Bestswap and P2PB2B in September,
the roadmap and products that GESGROUP set out in its whitepaper can quickly be
verified. Because if according to the timeline they set, the company P2P
Lending using DeFi technology will officially launch in the third quarter of
2020. Paygate and e-commerce platform will also be tested and released to the
market later this year. It is not yet clear whether GES will be successful, but
follow their ambitions, we will maybe see a cryptocurrency bank (Crypto Bank)
born.
Currently, according to the development trend of the digital economy, many
types of cryptocurrencies have emerged. In past, it was the cryptocurrency that
was anchored by game-redemption, now it is the DeFi trend, and in the near
future it will probably belong to e-commerce. If the crypto market and the
consumer trend of cryptocurrencies are irreversible then quickly we will be
paid for our daily cup of coffee with a token.
Token details
Name: GES
Official Website: https://gesglobal.io/
Token Protocol: ERC20
Total Supply: 500,000,000 GES
Token Sale IEO:
5,000,000 GES (1%)
The circulating supply for
the first 2 years will be: 30,000,000
GES (6%)
The remaining tokens will be locked for 2 years and unlocked over the next
5 years
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