The GME is over, now what?
In this post we are going to go through what happens after the Genesis Mint Event.
The clock has reached 00:00:00:00
The moment the clock on the website hits 00:00:00:00 it means we have reached the Unix timestamp of 1600646400, which translates to 09/21/2020 12:00am (UTC). The end of one of the fairest launches in Crypto.
How to conclude the GME?
As soon as that milestone is reached anyone can call the function concludeGME and finish the event. Because smart contracts cannot initiate transactions, it is necessary that someone from the outside world call this function. Why would someone call it you ask? Because only after this function is called will GME participants be able to claim their $TRIB.
If you want to be the one to do the honors and don’t know how to, check out our post on how to interact with Smart Contracts from Etherscan.
Claiming your precious $TRIB.
After the previous transaction is mined, the contract is now ready to start giving away $TRIB tokens.
In order to claim your $TRIB you can either do it from the website, or directly from the smart contract using the claim function.
Selling your $TRIB at a profit.
After you receive your tokens you will see the option to sell your $TRIB back to the contract if you feel so inclined. Because everyone got $TRIB at the average price and because the mUSD that has been deposited since the beginning of the GME has been generating interest, you will be able to claim the interest and sell at a profit the moment the GME ends.
The catch? You will need to be faster than everyone else trying to claim that interest.
At time of writing the interest pool has accumulated ~4,444 USD so in order to claim the full amount, you need to sell 4,444 USD worth of $TRIB back to the contract.
Don’t worry if you don’t have that much. If you sell less than there is in the pool, you will still get the same dollar value you sell to the contract. If there is no more interest to be claimed, the transaction will just sell your $TRIB at the current price.
Buying $TRIB if the price drops.
Since the $TRIB token is minted and destroyed according to a bonding curve. If people start selling their $TRIB at a profit, the price will start to go down. This might be a good opportunity for someone that missed the GME to enter into the system.
There will be an option to buy $TRIB directly from the website or if you prefer you can also get it directly from the Smart Contract using the invest function.
Don’t forget that you will have to approve the Contribute Smart Contract to spend your mUSD. If you don’t know how to do that, just check out this blog post to see how its done.
If you prefer the easy route. Just do it directly from the website after you have claimed the tokens.
NEVER SEND mUSD OR TRIB DIRECTLY TO THE SMART CONTRACT! YOU WILL LOSE YOUR MONEY.
Sorry for shouting, but this is important.
That’s it. You are now part of the coll… huh… revolution.
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