In our previous articles, we have mentioned a few times how the GEMS presale will take place on Koinify in the near future. Everything is preparing for launch, and the tokens will be sold under the ticker XGEM. When will this all take place, you are all wondering?
December 1st 2014 9:00 PST will be the kickoff date and time for the XGEM presale on Koinify. Early birds will be treated to a special, as the initial rate will be 17,250 XGEM per Bitcoin, which will only last for the 48 hours of the public presale. Prior to this public sale, a small number of invites will be sent out to early supporters and subscribers of Koinify and Gems newsletter, who will receive the same early bird rate.
After these first 48 hours,one Bitcoin will grant you 15,000 XGEM. This rate will keep declining by 1,000 XGEM per BTC every 5 days, until we reach the final rate of 10,000 XGEM per BTC. Do keep in mind there are no minimum purchase requirements.
The public GEMS presale will end on January 5th at 23:50:59 PST, unless the cap of 3,000 Bitcoin/50 Million XGEM is reached before that date. Any unsold XGEM tokens will be destroyed after the end of the sale, by sending them to a verified unspendable address.
As a reminder, let’s take a look at the Gems distribution model :
Upto a total of 50M XGEM will be sold on Koinify during the public presale
30M XGEM will be used during the airdrop and incentives stages
12M XGEM will be used for GEMS awareness and promotion
8M XGEM is used for the development team
XGEM – How To Use It
The XGEM crypto token is a core part of the Gems social messaging application and network. On the one hand, it enabled advertisers to purchase ad slots with XGEM, while the Gems users (who opted in to view ads) will receive extra rewards paid out in XGEM for viewing said advertisements.
On the other hand, users can send XGEM to friends and family, regardless of their location. Splitting a bill among friends by using the XGEM crypto token in an instant messaging context is one of the many possibilities,
Extra Benefit For Public Sale Buyers
As an additional benefit for public sale buyers, they have a chance to be randomly chosen to receive extra XGEM token rewards when someone joins the Gems network without an invite. As you will know by now, referring people to become a part of the Gems network will give you a “referral fee” which is paid out in XGEM tokens.