Bitcoin Forum

Ico or minning?

Please make the announcement more detail, because this announcement is far from complete

Already working on it.
Thank you for your interest.

Neither. An asset on Stellar blockchain.

any bounty social media or promote on other forum ?

Yes, visit https://gft.network/resources/bounty

Roger Ver should be interested in this project, he wants Bitcoin to be used to pay for Coffee. I haven't seen want this project brings to the table that makes it different from most Altcoins in the space

this looks interesting project

The key difference is the business model.

GFTs will be fully backed by USD on the corporate bank account (hello, Tether). So we will be able to make automatic instant payouts in USDs to venue owners for the redeemed gift certificates including cross-border transactions. Fixed GFT price (1GFT=1USD) allows b2c business operate freely. High volatility is one of the main obstacles that prevents crypto-payments from spreading.

Another great feature for business (I'm talking about restaurant owners in this case) is our totally free fully-featured SAAS solution.
It's incredibly cool, because when you are paying 100$ by your credit card, the recipient receives exactly 100$-worth gift, and the business owner receives exactly 100$ on his bank account when the certificate is redeemed.

You see, there's is a trick with gift certificates which makes them so interesting for business. About 5 to 12% of all paid gift cards are never redeemed. We are using this difference to cover all USD transfer costs:
- Credit Card charging fees (1.5-4%)
- International transfer fees (0.2-1%)
- ACH/Wired payout fees (1-3%)

Of course, the more transactions platform process, the lower bank fees will be.

The most intricate part of that business lays in the field of finances, not the technical implementation. It was a challenging task to create such complex and flexible SAAS platform. But the real challenge is to make everything work with international transactions. There are a lot of restrictive policies, such as Know You Customer policy, Anti-Money Laundering and Countering Financing of Terrorism Act, European Union Fourth Anti-Money Laundering Directive and many other local laws that make international transfers far more complicated than they should be.

And we don't want to "disrupt the market". It's a large multi-billion industry. We introduce both b2b and b2c solutions. Simple and completely free SAAS services for small business (see 2THE.PUB and EasyGifts solutions), tailored solutions for enterprise customers and our "platform+finance" services with really low fees for e-gift integrators (there are a lot of them, market is highly fragmented). Win-Win for everyone.

That's what makes our platform really unique.

I hope this project will successful,  i will buy some coin and hold least 1 year i see this is good coin .
Sound roadmap amazing ,too application, good luck

How long has this project been in development?

will we received a free coins or like stellar we have to hold a bitcoin in a certain day an we can claim for the coins ?

We've started active development early Q1 2016. Originally this project had nothing to do with cryptos. We used credit card processing and bank API, and it was ok for the local business. We decided to look at blockchain more closely at the end of 2016, when we dig dipper and found the real prices on cross-border payments. Our services and platform originally were designed as cross-border solutions.

Ethereum was the industry standard, Lisk looked promising, but after detailed examination we dumped them in favour of NEM. Relatively fast transactions, custom assets, nano-client, API.
Official JS SDK was not published yet, so developers had to vivisect nano client sources. It took us a long three months to create a working prototype.

But soon NEM price jumped up and we had to throw away all our work because on-chain transactions with assets became too expensive (appx 0.5 USD per transaction), so depending on the case every full transfer between the gift buyer and business owner costed us 0.5 to 2 USD (which is unacceptable for micro-payments).

And then we discovered Stellar. Completely free custom assets, 3-5s transactions 0.000005 USD per each, federation API, beautiful SDK and API, large community.
We completely moved from NEM to Stellar in 4 days. And it's definitely the best solution on the market in our case.

There will be no free coins. We don't plan any give-aways except the bounty program.

As soon as we arrange all details there will be two pre-sale phases.

During the first phase 5 000 000 GFTs will be sold starting from 0.2 USD per GFT.
During the second phase the initial price will be appx 0.55 USD/GFT.

Shortly after the Treasury fund will be filled up (all finances gathered from the pre-sale will be exchanged for USDs and placed to the GFT Foundation bank account) GFT price will be bind to USD. After that everyone will be able to exchange GFT for USD with the 1:1 rate via Treasury or any public other exchange.

Visit our bounty campaign thread (https://bitcointalk.org/index.php?topic=2088884).

We're happy to announce that GFT promotional tokensale (https://gft.network/distribution/sale?utm_source=bt&utm_medium=ann) is live!

Distribution amount: 3,000,000 GFT
Exchange rate: 0.25 GFT/USD (75% off promo!)
Presale ends Aug 25 2017 00:00 GMT

You can purchase GFT tokens directly on our website (https://gft.network/distribution/sale?utm_source=bt&utm_medium=ann) (BTC, LTC, ETH, ETC, DASH, XMR, XRP and other purchasing options available) or on the Stellar distributed exchange (https://community.gft.network/t/how-to-buy-gft-tokens-on-the-stellar-distributed-exchange/37?utm_source=bt&utm_medium=ann) (you'll need a Stellar account for this option).

Join the project, I have high hopes for it!

I saw 2% is already sold out of the presale tokens at $ 0.25. What I must say at start is website is looking nice but I didn't succeed to find about the people behind this project. Would you attach some basic information of team running this project or company registration if there is any ?

Thanks  :D
Personally I admire our designer, he is a new Salvador Dali, in my opinion.
Have you visited our 2THE.PUB (https://2the.pub/?utm_source=bt&utm_medium=ann) service? To my mind, it's a masterpiece.


Totally agree with you, team info is a must for any project description. We will definitely publish detailed information on all executive team members.

Our CEO insists that first we have to close all open C-positions and finish parent holding company registration before publishing. It can take some time because, as far as I know, we have some difficulties finding local CFO for our Swiss headquarter. As we stated earlier, GFT Network is more a financial organisation than tech startup; that's why our lawyers enforce strict data disclosure rules.

Happy to hear it  :D
Welcome on board!

Join our community (https://community.gft.network/?utm_source=bt&utm_medium=ann) or follow us on Twitter (https://twitter.com/@GftFoundation) to receive regular updates.

GFT is listed on the StellarTerm exchange!

GFT-XLM trading pair (https://stellarterm.com/#exchange/XLM-native/GFT-gft.network).

If you already have Stellar account, you can purchase GFT tokens with XLM (https://community.gft.network/t/how-to-buy-gft-tokens-on-the-stellarterm-exchange/38?utm_source=bt&utm_medium=c).

Or you can buy GFT directly on gft.network website (https://gft.network/distribution/sale?utm_source=bt&utm_medium=c) with other crypto currencies.
We accept BTC, LTC, BLK, BRK, CLOAK, CRW, DASH, DCR, DOGE, ETC, ETH, EXP, GAME, GLD, GRC, MUE, NAV, NMC, NXS, PINK, PIVX, POT, PPC, STEEM, STRAT, SYS, USDT, VOX, VTC, WAVES, XMR, XRP, ZEC.

Interesting project, would be interesting how big of an industry we are talking money wise, plus hiw many off these poeple would ever use blockchain. I think idea is super, timing is too early for such projects yet

Gift cards are a multi billion dollar industry and it's only growing!
Persistence Market Research predicts that the international market for gift cards is likely to grow to $698 billion by 2024, more than double its current value ($307 billion).

Popularity of e-gift cards is increasing, in 2016 it grew by 33 % in the USA. Expected global annual growth is more than 120%.

Industries by popularity (US stats):
- Restaurants (34.8%)
- Department Stores (34.4%)
- Coffee Shops (20.1%)
- Entertainment (17.2%)

You can find detailed stats and market research references in our article The Bright Future of Consuming – Digital Gift Certificates (https://community.gft.network/t/the-bright-future-of-consuming-digital-gift-certificates/26?utm_source=bt&utm_medium=c).

Nice project! Will surely join it! Can we get the whitepaper link?

Glad you like it  :D


All publicly available information is published on GFT Network website.

Partner website with detailed docs, API description and SDKs is accessible only to our strategic partners so far.  We'll open it for the public in a few months.

hi,dev,the Chinese Ann thread translation had finished,good luck your project.
any question PM me

Hindi ANN + Bounty: https://bitcointalk.org/index.php?topic=2096388.new#new

Very interesting, ICO with reward system referral, has been long enough never to monitor this kind of program.
Good luck

🔥 Breaking news! 🔥

GFT Network (https://gft.network) just received the Stellar Build Challenge (https://www.stellar.org/blog/fourth-stellar-build-challenge-results/) award in the "ICO / Token issuing" category.

Thanks to the Stellar Foundation!

And many thanks to all Community members, we are grateful for your feedback and support!

The GFT promotional presale will be over in less than 48 hours and we are excited about the fact that we have already reached our primary goal – gaining community support.
This announcement thread was translated into 6 languages. We received a lot of advices and our management alongside with development team is working on service improvements.

Thanks for your support!

Presale

• 1,664,857.39 of 3,000,000 GFT distributed so far (55%).
• Trading platforms by popularity: StellarTerm exchange (https://stellarterm.com/#exchange/GFT-gft.network/XLM-native) (XLM), Stellar Desktop Client (http://wallet.stellar.chat/) (XLM), direct sale on our website (https://gft.network/distribution/sale#purchase-tokens) (all other cryptos).
• Promo presale ends Aug 25 2017 00:00 GMT.

Seems like no information on the people behind GFT has definitely hurt the pre-sale. Otherwise, the tech and the idea seem sound.

What are your plans for aggressive marketing and promotions? How many restaurants will be on board during launch? How many can you add per day after that?

Our marketing team is preparing both online and offline advertising campaigns + direct sales. We have tested AdWords, banners, and referral traffic acquisition channels. CPA/CPS affiliate networks are on the way.
And, of course, we put high hopes on press and bloggers.

We are already working closely with restaurants to start accepting certificates immediately after launch. So far we received more than 40 requests from the restaurant owners.
To run service globally we need at least 400-500 venues worldwide.

Franchise and restaurant networks are the most perspective clients. For example, The Subway has 44,583 restaurants in 113 countries. Truly vast opportunity.

There are no limitations on our side. Any venue can join the GFT Network in a few clicks. The only possible bottleneck is our support team responsible for venue ownership validation and general customer support.
However, we don't expect any serious problems.

You should not aim for a global launch. A GFT voucher user doesn't care if there are 500 restaurants on board in the whole world. He only cares if the best 20 restaurants in his area are on board.

If you're smart, you'll take the facebook approach. Launch in a smaller region, make it really popular there - so much so that everyone in that region has heard about it - then scale to other regions.

You need to find a hook to get restaurants to promote GFT themselves to all their patrons. (Which may mean a referral program for restaurants which helps them get diners to come back.)

You need to go with direct sales to corporates (everyone eats lunch). But this can only work if the walking distance area has more than 1-2 participating restaurants.

You need to list on various coupon websites, at least initially. groupon and retailmenot etc.

Really, there have been a lot of startups that have failed in the gift certificate business who have had awesome tech - because their marketing didn't match their tech strengths.

Out of all ICO Launches this week , this is the only one that make sense with their product,  all others are just to good to be true and just promises for show off.. good luck to the dev team and hope you succeed in bringing this up.

Definitely! That's why we are trying to offer 0% fees on Wire/ACH/SEPA transfers to the owners. They will promote us if our solution will be cheaper than credit cards acquiring. Also, the venue receives the whole gift card nominal regardless of the actual order amount (you may want order only a coffee and croissant for 13$, but the owner will get 15$ from 15$-worth gift card).
Besides that, we have designed and sent to printing the first portion of promo table-tents with our advertisement.

The global platform is one of our key benefits.
You see, e-gift card business is a large multi-billion industry. Only in the US, there are 4-5 services with business model resembling our 2THE.PUB service(our solution for restaurant business), the market itself is highly fragmented.

We introduce both B2B and B2C (2THE.PUB and EasyGifts) solutions to cover all business needs. Simple and completely free SAAS services for small business (see our 2THE.PUB and EasyGifts services), tailored solutions for enterprise customers and our "platform+finance" services with low fees for e-gift integrators. We don't want to compete with local companies, we want to cooperate with them.

The idea is really good, but, as you mentioned, it may work only for urban areas with high concentration of our partner venues.

So true! Almost any tech startup is dead in a year without great marketing.

I will discuss your proposals with our CEO.

Thanks a lot for your advice, @wisard!
A pleasure for me.

Thanks!

🎉 GFT promo tokensale is finished. 🎉

66% (1,985,122.39 of 3,000,000) GFT tokens distributed.

Thanks to the community and all participants!

Stay tuned (https://twitter.com/@GftFoundation) and do not miss the second presale phase.

In order to create a trustline, you need to have at least 30.001 XLM on your Stellar account (20XLM is an amount reserved by Stellar Network, and 10XLM for each trustline you establish). Please verify that you have enough funds on your account.

Send me a PM with your Stellar address. I'll check for other possible errors.

When the service is ready i Will buy A giftcard and send it to my altcoin hater Friend.

I am selling 6400 GFT tokens. Pm me if you want to buy, make an offer.

Dev，I had PM you my email.
and besides,I would manger you thread activity .
thanks for you create a wallet for me,thanks.

Please check your email, I've sent your wallet details.

yeah.I got it ,thanks

any update about this project?
it had been failed?

hello,dev,I want know the link of STR online wallet.
if we can add this asset in this online wallet like ETH?

GFT Network progress update

The promo presale went smoothly, we received great response from the community. Thanks again to all participants.

Our primary goal for the next few months is to connect at least 500 venues to the GFT Network. Our marketing department is focused entirely on restaurants. We have been extremely busy preparing the online advertising campaign for venues. And it already brought some promising results – so far we received 22 restaurant listing requests from all over the world.

GFT token is listed on the Stellar decentralized exchange (https://stellarterm.com/#exchange/GFT-gft.network/XLM-native), but we need it to be listed on at least 3 major exchanges to make GFT really decentralized and trusted asset. Our management and dev team are working closely with exchanges, so we hope to see GFT/BTC pairs on major markets by the end of 2017.

Before the second tokensale phase we need to prepare everything for the global start. It will be launched as soon as we reach our current goals.

CURRENT GOALS
Restaurant requests: 22/500
Exchanges: 1/4

We will keep publishing regular updates here to inform the community about our progress.

There are plenty of various Stellar wallet implementations. See the full list here: https://www.stellar.org/about/directory#wallets
If you prefer web-wallets, try https://saza.io/ or https://stellarterm.com/

All major Stellar wallets support custom assets, therefore you will be able to hold and trade GFT tokens using your preferred wallet without any limitations.

would it trade in platform?
I want sell my bounty...

Not quite sure what you mean. You can sell your bounty reward on the Stellar exchange at current market price.
https://stellarterm.com/#exchange/XLM-native/GFT-gft.network

We are working on listing GFT tokens on major crypto exchanges. So if you want exchange your GFT for fiat currencies directly, you have to wait till we finish integration.

https://i.imgur.com/r4UiD93.png
why I can't see this coin?
I had about 6400 GFT
but I can't sell GFT to trade XLM

Dev abandoned the project? Please give us some insights.

I like the E-Gifts From 2016, I'll try to support this project, have liked the idea & the developpement !
But let's wait until the devs appear and the team become officialy responsable of the project .
Good job, Keep going !

The Stellar network requires all accounts to hold a minimum balance of 20 + 10 * (count of orders or trustlines) XLM.
Therefore, you need at least 40 XLM (20 XLM reserved balance, 10 XLM for GFT trustline, and 10 XLM for order itself) + 0.00001 XLM for transaction itself to place an order on Stellar network.
You have only 30 XLM on your account, so the wallet shows an error.

When you set an order, you pay only transaction fee (0.00001 XLM), 40 XLM will be frozen on your account balance and you will be able to reclaim the whole amount later, after you sell your assets.

I asked devs to send you 10 XLM. Now you are able to place an order. You can see transaction details here: https://stellarchain.io/address/GDL5AYKUBWIETGGQYI23SXCD2C2NTIPVPEGUKTPYSQJN7ROOMKAHPR2A

In case of any further question regarding your account, please send us a direct message or e-mail (support@gft.network).
This thread is for general questions regarding GFT Network only.

As you could see from our previous post, we are preparing everything for the global start. It requires wide venue support and listing on top exchanges.

So far we can't say exactly when GFT token will appear on primary exchanges because news from China really shook all crypto-related businesses. The panic on the markets makes everything more complicated. Exchanges are changing their routines and procedures to match latest US and Chinese regulatory acts.

Nevertheless, the GFT Network team is determined to bring the product to market. We truly believe in the idea and invested a lot of time and efforts in GFT. The team will never abandon the project.

Follow us on Twitter to receive latest updates.

Thanks for answering. Glad to see, I will be following  twitterm

it's pretty good ,I would follow your project,it's pretty cool

So, a fiat-backed cryptocurrency? Pardon my naivety, but isn't the point of crypto is moving away from fiat?

I want know any update about the project?
I think you needn't worried what the China government would do.just do yourself

We aren't worried about the China. Our lawyers are working with the most recent regulatory acts in order to add some corrections in our terms of use before the public service launch.

Of course, the Chinese market is huge and it's one of our primary strategic goals. However, we can safely do without it.

In any case, we keep working on the project regardless of the situation on the market. We have some exciting news. Official update is to be published in a week or two.

There were a lot of attempts to adopt Bitcoin-backed platforms for micropayments in general, and gifting services in particular.

A few common problems of cryptocurrency usage in daily purchases:

• Extra-high volatility.
• Transaction confirmation period is much longer compared to credit cards.
• High transaction fees even on micropayments.
• To reclaim the fiat value, cryptocurrency needs to be exchanged on exchanges.

Who would purchase a gift card if nobody can tell how much it will cost tomorrow? For example, you want to say thank you to your partner for a help with some business, so you are sending him a gift certificate for a dinner in a cool restaurant. Just imagine how angry he would be (and how it would be uncomfortable for you) if he visits the restaurant in a week and the waiter says that he needs to pay 30$ more by himself (because Bitcoin and all other cryptos lost 20% of value during last two days).

With such volatility the Bitcoin (Litecoin, Ether, Dash, <add yours>) is not an option for e-gifts.


P.S. Sorry for the late response. Sometimes we just don't receive email notifications regarding thread replies from the Bitcointalk.  :(
Our support team will be manually checking for the forum replies in the future.

any update about the exchange?

is it a died thread?

https://community.gft.network/uploads/default/optimized/1X/b638f19946d302bdb5cd79a138a41de66344c122_1_686x263.png

It’s been a while since the last progress updates were published, and we have a lot of news to share.

Current status

During the last two months, GFT Network team has been working on the marketing material preparation for public service launch and platform improvements. The only thing still missing is the official financial institution behind the project.

Negotiations with potential partners take much longer time than expected. Although multiple banks and companies expressed intense interest in GFT Network, the existing legal system and regulatory requirements do not cover blockchain operational routines and taxation procedures. Such conditions result in continuous discussions with lawyers, management, and official regulators. Despite the confidence in the planned result feasibility, we have to admit that we are behind the schedule described in project roadmap. The GFT Treasury funding phase and service launch are delayed.

Due to this situation, our team decided to reach required tokens liquidity by establishing a partnership with consumer-oriented services and bring GFT tokens to online retailers in the first place, while our CFO and lawyers keep working on the original plans.

Currently, our developers are preparing the platform for API integration with 3d-party services, and we are planning to launch first online sale widget powered by GFT tokens in the following month. The roadmap and information on our website will be updated to reflect corrected plans.

GFT buy-back program

Our goal is to build a financial instrument fully trusted by people and companies. We appreciate credit of trust our community supporters gave us by purchasing GFT tokens during the presale phase, and we want to reassure you that we follow our liabilities. Lately, one of our early adopters sent us an email with the presale refund request. Following the principles of free exchangeability and circulation, we are establishing GFT buy-back program. Since today we will be regularly setting orders on the Stellar decentralized exchange (https://stellarterm.com/#exchange/GFT-gft.network/XLM-native), so anyone will be able to exchange GFT tokens back for XLM at the presale price.

Thanks for your support. Keep following us to receive the latest GFT Network news.

Black Friday. US traditional sale that has already become an international trend. It's everywhere: on TV, radio, billboards, in your email box. And now it comes to the blockchain.

We are excited to announce the launch of the GFT Pay, checkout service by GFT Network (https://gft.network/). Our development team designed robust and flexible platform with simple integration into any website. It's a one-stop solution that features both product checkout and remittance services, uncovers unique blockchain payment possibilities for online retailers who want to accept GFT tokens.

This new option opens GFT settling instruments to a wide range of internet businesses: internet commerce, on-demand marketplaces, crowdfunding platforms, small business, and digital distributions.

GFT Pay is already working and you can use it to save on gifts for upcoming holidays! Don't miss the chance to order an amazing electric skateboard brought to you by the Char(G)iot for 999 GFT.

It's a limited Black Friday/Cyber Monday deal, only 25 skateboards are available at this price. Free worldwide shipping included! Purchase it here: https://chargiot.com/


The GFT Pay widget is designed to fit into any website. It can be configured to run in a popup or standalone mode. Price, shipping details, texts, images and other checkout settings can be configured in the admin interface. The service is built on top of the blockchain, so payment confirmations are immediate; the order can be paid in two or more transactions.


So far the service is available only for our enterprise customers, but we are planning to open it for public use soon.

Want to use our payment platform in your e-gift/e-commerce/loyalty projects? Build your own service on top of the GFT platform API. Contact us and we will offer a tailored solution focused on your business requirements.

(* charg(G)iot boards are manufactured and shipped by the Chargiot Co)

Can you please clarify the exchange rate for the refund? GFT tokens can be exchanged for the same amount of XLMs sent? Because I don't see those rates on the decentralized exchange.

During the community pre-sale GFT tokens were traded at 0.25 USD/GFT on multiple markets, including XLM, BTC, ETH, LTC, USDT, XMR, WAVES, ZEC, ETC, DASH, and others. Private investors purchased a significant amount of GFT tokens for USD and EUR.

We offer the same refund rate, 0.25 USD/GFT. XLM/GFT refund orders are updated daily, following the indicative XLM/USD exchange rate from CoinMarketCap (https://coinmarketcap.com/currencies/stellar/).

If you have any questions regarding the refund process, please send a PM with your case description. Our support engineers will do their best to assist you.

The issue is lack of updates. So its hard to decide if we should continue supporting the venture or not.

Because of the price rise of XLM and BTC, refunding in USD values seems like such a poor return for the people who believed in you. Why not give them further reason to believe in you?

Or else, keep your promise and let all GFT tokens be redeemable for $1 as was claimed on your website.

This looks very worth watching.

https://community.gft.network/uploads/default/original/1X/a23d879ad19b467904c6a9adb56f6dd09dc365be.jpg

Service Termination Announcement

Dear GFT supporters and presale participants,

Over the last few months, we had numerous conversations with representatives of banks and financial organizations located in 4 jurisdictions. However, we haven't reached an agreement that would satisfy our requirements by means of low-cost worldwide payment settlement. Without payment provider, GFT Network will be unable to keep the declared service fee rates on global gift certificate transfers.

In this light, we have decided that the best approach is to terminate the project and refund all our GFT token holders as we feel that it's the right thing to do in order to protect our early supporters.

Starting January 3 at 6:00 PM (UTC+0) the trade in GFT/XLM will be open on Stellar Decentralized Exchange (accessible from any Stellar wallet (https://www.stellar.org/lumens/wallets/) with DEX support or stellarterm (https://stellarterm.com/#exchange/GFT-gft.network/XLM-native)). We will place a buy order to buy back all tokens for 2.0317 XLM per GFT. Owners of GFT tokens will thus be given the opportunity to sell all their tokens for a fixed price per token (~ 1.77 USD per token at the moment of publication).

This refund process will be carried out automatically before January 12, 2018.

Upon refund completion, all GFT-related public services and websites (including gft.network (https://gft.network), community.gft.network (https://community.gft.network), 2the.pub (https://2the.pub)) will be terminated.

Please contact our support team (support@gft.network) in case of any additional questions. We will work with our community on a case by case basis.

Our team is deeply sorry to make such announcements, but we have no choice at this point. We are really grateful to our supporters who believed in us and shared our vision.