Introducing — GoMeat Token

The Concept

GoMeat is a marketplace leveraging blockchain technology, connecting consumers with specialty retail meat stores that primarily offer fresh Halal and Kosher meat products such as red meat, poultry, and seafood. Specialty meat is not available in traditional grocery stores in the US and other Western countries. It is only available in certified specialty retail stores. There are more than 10,000 halal meat stores in North America alone. Currently, only the halal food market in the US is estimated at over $32 Billion and is showing an aggressive annual growth.

GoMeat extends the online presence of the existing Kosher and Halal meat stores by including options for electronic payments in usual fiat currencies.

The Need

GoMeat Marketplace

With over 2 billion specialty meat consumers worldwide, the increasing demand of specialty meat has created a need for specialty stores all around the world especially in the Western world including North America, Europe, and Australia, where a huge population of Muslims and Jews exists but a limited availability of the Halal and Kosher meat that they desire.

The specialty products market is a highly lucrative market with meat, processed food, and beverage segments being the most attractive market. Some major specialty food production companies have captured a significant portion of the market. This has created a gap in the market for a dedicated specialty foods delivery service. It is estimated that due to the rapid growth of ethnically diverse populations globally, the demand for specialty foods is only going to grow in the coming years.

From 2019 to 2024, the global halal market size shows an incremental growth of $624.52 billion as the market size is projected to increase from $1.5 trillion in 2019 to $2.1 trillion in 2024.

The Way Forward

Token Launch:

The GOMT Pre-sale launched on the 24th of June and is currently ongoing, set to end in two months.

50% tokens from 5 Million total supply will be offered for funding USD 5.5 Million in the following phases:

Incentives

1. GoMeat will be providing early bird bonuses. The ICO is divided into two stages and the second stage is further divided into three tiers. Bonuses will be provided throughout the span of the ICO but the bonus amount will decrease over time to allow early buyers to profit most.

2. Buyers can generate their own referral link to share with friends and family. For every GOMT purchase made using the link, the referrer will receive 3% bonus tokens while the referee will receive 2% bonus tokens.

Ways to get GOMT

• Buy GoMeat Tokens during the pre ICO and ICO event.
• Earn GoMeat Tokens by working as a GoMeat Driver.
• Refer GoMeat App to your friends and get rewarded with GoMeat tokens.
• Become a GoMeat Store and earn tokens on execution of a certain order volume and number of orders executed without error.

Token Utility

Customers can use GOMT to pay for their meat, grocery, and food orders. They will receive free delivery and get exclusive discounts.

1. Paying with GOMT will provide 1% cashback. These tokens will be provided from our circulating supply

2. App referrer and referee will receive GOMT as part of our referral program

3. Drivers opting for GOMT as their mode of payment will be assigned orders on a priority basis.

4. Drivers will be provided with a bonus GOMT for delivering a certain number of orders per week.

5. Stores will be paid using GOMT. Stores that opt for GOMT payment will be charged a lower commission rate. Stores will be rewarded with GOMT for the execution of errorless orders and for completing a certain number of orders every month.

6. Employee bonuses and a predefined percentage of their income will be paid through GOMT.

7. In phase 3 of expansion, Halal/Kosher boards and slaughterhouses will be paid using GOMT.

8. Specialty Certifications will be approved once a certain amount of GOMT is staked. To ensure accountability, the staked amount will be burnt in case of breach of certification.

Token Burning Mechanism

The GoMeat Token is a deflationary token with a detailed burning mechanism.

1. If any tokens are left unsold during the ICO, all of them will be burnt.

2. In the first quarter after ICO completion, 3% of the GoMeat generated revenue will be burnt.

3. 4% of the 2022 revenue and 5% of the 2023 revenue will be burnt on a quarterly basis

4. Burning rate from 2024 onwards will be decided based on revenue amount, quarterly financial reports will be released to keep the community updated.

5. Once GoMeat hits $3 million in gross volume, then an additional 3% GoMeat revenue will be burnt every quarter.

6. Additional tokens for burning will be bought from exchanges if needed.

2. GoMeat Blockchain

Specialty meat safety and traceability is a highly complex and hotly debated topic, the developments in the domain of blockchain are proving to be a promising solution. For the meat industry, Hydra chain offers a fundamental use case through certificates and supply chain tracking. Thus improving the efficiency and efficacy of food safety programs.

GoMeat Blockchain application will be based on the Hydrachain platform and will perform the following functions:

1. Collect all certificate information from the Certificate data repository.

2. Establish a secure connection Certificate data repository provider and update Certificate info frequently.

3. Store all the retail owner’s information and certification info in our blockchain application. d. Create a blockchain API to connect with GoMeat marketplace and display smart certification documents in the app for customer view.

4. Share public key with 3rd party and Retail owners for each independent certificate

5. Retail owner certification validation.

6. Onboarded validation.

7. Certification cancellation or suspension validation: Monitor and control.

8. Certification renewal validation.