Economic Plan Revisions
Transparency and Adaptability are at the core of GoMeat Vision. We staunchly believe in serving our community and making decisions to the best of their interest. Foreseeing the demand for our services and the huge market potential in the US, we have decided to make some changes to our tokenomics and expansion plans. Keeping in mind the pandemic restrictions and after carefully evaluating the current crypto market trends, we believe it is best to make these changes to our ICO. To better adapt to the global situation and to ensure that we deliver what we promise, the GoMeat team has proposed the following modifications to the GOMT Economic Plan:
🔸GOMT price reduction
GoMeat recently conducted a poll to collect feedback about our current pre-ICO pricing. Based on our responses and foreseeing the demand for our services in the US, we have decided to revise token price and economics. We already have an existing loyal user base in the US and our knowledge of the business here will aid us in expanding at a much faster rate than in new countries. With changes in our expansion plan, our funding needs are expected to reduce; therefore, the hard cap will be lowered to $1.5 Million with a reduced Pre-ICO GOMT Token value of $1.0. Existing investors would be given additional tokens under this price revision. This reduction in pre-ICO value will give better upside potential to our investors on their investments once we are listed on DEC/CEX.
🔸Changes in soft-cap and hard-cap
Keeping in view the changes in cap per person and token pricing:
▫️Soft cap to be reduced from $500K to $250K
▫️Hard cap to be reduced from $5.5 Mil to $1.5 Mil
▫️Cap per person to be increased from 10k to 25k GOMT owing to the price change
The proposed price reduction means that ICO participants will enjoy a higher upside potential at the same cost since the total supply will remain unchanged at 5 million GOMT (of which 50% will be vested for a minimum of three years). This on its own is 4x less than the Bitcoin supply — even without accounting for the deflationary economy that will continuously burn GOMT tokens.
At the current state, our GoMeat Bot reports more than 114 GOMT scheduled for burning upon listing on exchanges.
With the adjustment to a price of $1, the projected burn would grow to 285 GOMT at the current state.
🔸Defer expansion into Europe & Asia to 2023 instead of 2021
Keeping in mind the profitable US market and possible COVID-19 related restrictions and guidelines, this change is being proposed. As a revenue-generating business that has been operating in the US for the past 3 years, we are confident that focusing on onboarding more stores will lead to higher revenue. The following changes have been proposed:
▫️Increase number of Stores to be on-boarded on GoMeat in 2021 from 500 to 600 in the USA.
▫️Increase number of Stores to be on-boarded on GoMeat in 2022 from 1,500 to 2,500 in the USA.
🔸Introduction of Hydra Staking Incentives
To further strengthen the Hydra ecosystem and to allow our community to benefit from the High APR, we have decided to introduce Hydra Staking Incentives.
All collected HYDRA coins will be staked and the rewards will be shared with Hydra investors in the form of GOMT tokens
- To reap the benefit of high APR:
▫️100% of Hydra tokens collected during Pre-ICO and ICO will be vested for 1 year
▫️In case Hydra constitutes over 70% of our total investments, any Hydra that received over 70% of the total investment will not be part of this staking.
2. The conversion of the HYDRA reward into GOMT Token will be based on the average rate at the date of expiry of the 1-year term.
3. Hydra Staking will start with the launch of this incentive plan to the community –Target date: Aug 6, 2021.
4. A Dashboard on Google sheets will be developed where investors can track the staking rewards and corresponding GOMTs.
5. A Reserve of GOMT token is already created (10% of total GOMT) from ICO to fund this incentive for Hydra conversions.
6. Any additional GOMT Tokens needed to fund these incentives will be acquired from the market/exchanges.
7. People who have already made investments as of Aug 6 in the non-Hydra token will also be able to participate based on avg Hydra value on the date of their investment. This will not be applicable for non-Hydra investments following Aug 6, 2021.
As a result of these changes, the GoMeat Token economy will be altered in the following way:
We believe that these changes will further optimize our goals and are necessary under the current travel and social restrictions. By adapting our token economics to the need of the time we are securing our investor’s best interests and our Hydra Incentives will help further strengthen the Hydra ecosystem.
🔸We would love to hear your thoughts and feedback on these proposed changes, kindly fill out the following form and let us know how you feel:
🔸You can find a summary of all these changes at: