LBank AMA Recap with GVR
On 13 July we held an AMA with the GVR team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Yes. I’m the COO of Grovetoken and Grove Business. I’ve traded crypto since 2013, traded since 1998. My background is in business, business management, and sales.
I am a Director of GroveToken and Grove Business. I am in business from Australia with over 30 year experience in retail and business ownership, product management, and marketing
GroveToken is a decentralized and secure green token launched in March 2022. Grove aims to combat the common cryptocurrency issues of increasing energy consumption and electronic waste production through a mission of creating a healthier, wealthier future for all.
Underpinned by foundational values of transparency, security and environmental sustainability, this new player is revolutionizing the crypto game by offering holders an opportunity to generate wealth while compensating the environment for years of abuse through green initiatives.
In March 2022 GroveToken had a historical launch, reaching a $43 million market cap within the first 30 minutes, and over 10,000 holders in less than four months. With phase one of the Grove Roadmap already underway, the team at Grove turn their attention toward the Grove Green Plan.
Tell us about your ecosystem. What besides the token is included in your ecosystem and what are you working on now? Will there be any platform releases soon?
We also recently achieved a partnership with a member of the royal family of Dubai! In this partnership, at this stage, we will be building our headquarters in Dubai and building a research and development center for students, farmers, and the public to learn about hydroponics so they can learn how to provide self-sustainability. It is a huge partnership with many parts to it. We are very excited about this partnership. A first for all of Defi too!
Launching on the BSC ecosystem March 1st, 2022, Grove recently launched our ERC contract 20 days ago understanding the need to cater for multiple markets. The team has built a bridge between these 2 ecosystems allowing holders to cross-chain in a single simple transaction
What are your major goals to archive in the next 3–4 years? Where can we see your ecosystem in this period? What are your plans to expand and gain more adoption?
The team at Grove understands that to create a lasting impact on the planet you have to be ready and willing to co-operate and share opportunities in order to achieve greater goals. At Grove that has resulted in the up-and-coming development of the GreenOasis© and assisting Grove Green Platform© utility and coin.
On GreenOasis©, their Green Crypto Exchange, users will have the ability to stake their holdings, entitling them to reflections generated by Grove Token trades based on volume. The GreenOasis© will also allow holders to trade cryptocurrencies and best take advantage of fluctuating market prices through low-cost green transactions. These processes will be supported by the implementation of leading digital technologies including instant P2P, secure lock, UL Certification, and the ability to tokenize holdings.
Lastly, Grove Green Platform© (GGP) provides a utility similar to that of CoinMarketCap, naturally with the expected green twist. Grove has identified that, currently, there is no central resource for Green Crypto Projects to shine.
GroveGreen Platform© Coin (GGP Coin) will become the Grove (GVR) support utility for assisting new projects in the startup phase. The primary purpose for GGP is to ‘hyper-burn’ GVR, reducing supply and providing setup assistance to new green projects through an offering of turnkey solutions.
Our green initiatives are Renewable energy and hydroponic/Aeroponic farming. Within both of will be built to scale in commercial, agriculture, and residential. Throughout our years, we will always come back to these host utilities, while adding other green initiatives.
Nobody can guarantee the security of Smart contract. But Audit plays an important role to find out the known bugs of smart contract. Can you tell us describe how strong is your security? Have you done an audit by any third party?
Our security is quite strong, with several perimeters in place. We have completed audits from Brewlabs, and Dessert. Currently waiting on Certik to finalize
In addition, It is important that we have a safe and secure environment for our investors. Our contract has built in Bot Protection and whale protection. Maximum wallet size is 500T with no more than 50T that can be sold every 6 hours ensuring stability in the chart
Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
We launched with 100 Quad on March 31st. we have burnt 39% to date and in addition with our ERC-20 bridge, the ETH contract will share in that remaining supply. Part of our Tokenomics we have built in a 2% auto burn with hyper burn to occur in the future to further reduce supply
Further, we have 4 staking pools and 1 farming pool in our BSC contract, and 1 farming pool in our ERC Contract
with Staking to become available soon on our ETH contract. the ability to earn passive income is important. This also promotes longer-term holding
Not To to leave out that our bridge will be activated soon! Splitting the supply between the two
Currently, most projects and platforms are in English. How will GroveToken reach non-English local communities? Do you have any plan for them to better understand your project? What are the Requirements if a user wants to borrow from the platform?
we have written our white paper in 5 languages, English, Arabic, French, Spanish, Russian, and Turkish.
With international groups covered in TG and our Discord
It is important that we cater for all members of humanity and will expand our international groups when required
EVERYONE is welcome at Grove
Inclusion is very important to us at Grovetoken. We have made extra steps to ensure this. Our team is also bilingual in many languages.
I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate?
Great! We are currently building our Ambassadorship program. Please dm me after this and we can discuss it
Staking programme is very important for any project,? Can I stake your token,? Do you have any plan of starting staking programme?
We have staking available now. We will have to work through how LBank investors can achieve passive income, so more to come
What are plans for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?
Our product will be available for purchase globally, with commercial being more personal with our team. With investors, we have grown organically, without the use of gorilla marketing, we currently have just over 10,000 investors and growing quickly
I thank you both for the detailed explanation given👏👏
After going through your white paper, I discovered that you have Four Co-founders, are these Four the Main founders or you have Chief Founder?
Yes. John G, myself, Richard, and John Sr. are founders. John G, is the original founder
What is the biggest challenge for you in the future? how do you plan to solve this problem?
As we are a green token, Grove business aims to bring sustainable farming to all parts of the world. We have just announced our Grove HeadQuarters in Dubai that will be a state-of-the-art sustainable farming research center.
IT IS THE RIGHT OF EVERY HUMAN ON OUR PLANET TO HAVE ACCESS TO FRESH WATER AND PRODUCE
It is our biggest challenge.