Important Update from GameStop.Finance
As you probably have seen, a grave injustice has been committed against ordinary retail traders and degens everywhere. Robinhood and many other popular brokerages suspended buy order functionality of populist stocks such as GME and AMC as well as the meme crypto DOGE. Traders were only allowed to sell, pushing the price of these assets down artificially from their rightful lofty highs. This is an unprecedented action to try to destroy the current uprising against hedge funds and Wall Street and is, frankly, blatant market manipulation. We feel it is our moral obligation to act now.
The GameStop.Finance team have escaped from their wage cages at McDonald’s and used up all their available sick leave and days off to deliver this launch ahead of schedule. It’s time to send a message to the whales and institutions. This isn’t about money. This is about taking back power from the bullies and tyrants that think they can keep us financially imprisoned. We are announcing that farming will start on Jan 31, 2021 at 04:00 GMT and that we will increase the number of staking assets during bootstrapping from 12 to 20. We are also shifting rewards during bootstrapping more towards liquidity providers, especially given that many of us have been unable to place orders for stonks due to a supposed liquidity crisis. We will also reduce the length of rewards after bootstrapping so we can get more tokens in your hands sooner.
$GME distribution event — UPDATED
The $GME token will be distributed via a standard yield farm starting on Jan 31, 2021 at 04:00 GMT. This contract is a battle tested and audited contract used for almost every DeFi yield farm. We forked it from Mith Cash (who forked it from Basis Cash who forked it from…) and you can see the diff file here (link coming soon). During the first two weeks (bootstrapping period) there will be 20 staking pools and a liquidity pool (GME-ETH) on Uniswap. The first 3 staking assets are $LINK (shout out to Zeus Capital), $CREAM (shout out to Wu-Tang Clan), and $YFI (shout to SBF). The remaining 17 staking assets for bootstrapping will be determined via Discord poll.
During bootstrapping, 300,000 $GME will be distributed evenly across each staking pool and 200,000 $GME will be distributed to liquidity providers. After the two week bootstrapping period, the remaining 500,000 $GME will be distributed weekly over the next 8 weeks as follows:
- 37,500 $GME to the staking pool of the winning token, which is 60% of that week’s rewards
- 25,000 of $GME to liquidity providers, which is 40% of that week’s rewards
No more $GME will ever be distributed after this.
Schedule (all times 04:00 GMT) — UPDATED
- Week 0 (now): Discord voting to determine remaining 17 staking assets for bootstrapping
- Weeks 1 & 2 (Jan 31 to Feb 14, 2021): Bootstrapping yield farm and first vote
- Weeks 3 to 10 (Feb 15 to Apr 12, 2021): Normal farming and rewards for previous week’s winners
FAQ
What is an analysis?
- You can think of it like when a stock analyst puts out a BUY, SELL, HOLD rating for a particular stock or when your favorite crypto chartist draws a bunch of lines on a graph and gives a price target for a token. Some cool examples could be that someone notices a great token has a ton of short open interest on an exchange, or another undervalued token has a massive onchain short placed against it, or maybe they’ve identified a microcap token they think is going places.
Do I have to trade based on the winning analysis?
- Nope. Everything is voluntary and we believe in decentralization and freedom. Votes are just a signal of community support and belief. Nothing is enforceable.
I bought the winning token and I lost money
- No one can predict the future. You are responsible for your own trades and behavior.
Isn’t this market manipulation?
- No. Is it market manipulation when a big Twitter account tweets they are bullish on a token for X, Y, and Z reasons? We believe in leveling the playing field.
How is the winner determined?
- Each week $GME holders will vote on the analysis they favor in a YES/NO vote. For a vote to be valid it must reach a quorum of 10,000 $GME. If multiple analyses reach quorum, the one with the most $GME allocated to YES is the winner for that week.
Why are there weekly rounds of voting?
- We think it’s better for community focus and organization. Having continuous voting and proposals would be chaotic and we would rather the community rally around a single analysis every week. It also makes rewarding the winner via staking rewards easier.
What if the same token keeps winning?
- Then the people have spoken. There will be no rule that LINK Marines can’t brigade and keep posting bullish analysis on $LINK. We think some diversity is healthy and will naturally occur, though.
How is this related to GameStop?
- In case it isn’t blatantly obvious, this project is in no way related to the publicly traded company GameStop or their stock. Think of it as a fan site or a parody. This is fun protected free speech. Please address all copyright infringement claims to our lawyers in the Seychelles.
Follow Us
- App: https://GameStop.Finance
- Twitter: https://twitter.com/GameStopFinance
- Discord: https://discord.gg/JKVKhXWpM6
- Telegram: https://t.me/GameStopFinance
