GIIS & Crypto Talkz AMA Answers. Part 2
We continue sharing the answers from the AMA session with Crypto Talkz that took place late September! Q. What other ways to enjoy and earn GIIS? Brilliant question! So, there is actually a path within the token-holder perspective. Those who are willing to get an instant compensation can do so, but also, there is a second approach where we lock the initial tokens and let them prosper for a year. Obviously, if within this timeframe the price hasn't covered and surpasses the value lost - the insurance kicks in. But if the value is greater, then the owner not only gets the full benefit of a safe investment, but also gets to earn on top of that. So, that's just within the insurance system itself. But also, we have a Bounty programme, just like I promised that we'd touch on it. Basically, anyone, who's, perhaps, not a holder of any of the applicable tokens, can still gain via the programme. Here's a doc (from the website itself) to help better understand the possibilities and the criteria: https://www.lh-crypto.com/download/GIIS_Bounty_Explained_EN.pdf If one is impatient - they have a chance to 'cash out' and move on. But if one is a crypto enthusiast and aims to capitalize on the initial investment - we have it covered too! Q. What are your expectations about GiisInitiative both future and present? Are you satisfied at present for your project progress and success? What types of motives should be expected from your investors and users? To be honest, all we are currently looking at is to cover more projects, reach out wider and get more onboard. It is pretty simple, yet takes most of the time and effort, as there is a whole process of onboarding the project, including the technicalities, not to mention negotiations with the token holders and the owners of the projects. In terms of satisfaction - it is going rather steadily, of course one can wish for it to be quicker, but I guess that’s anyone project’s magical dream! =) What we were probably not expecting, but rather hoped for, is for the project owners and the holders to be more upfront in terms of reaching out to us - it would greatly help us save some time!) Q. Could you tell us how to purchase GIIS' token? When will you have pre-sale, private sale and public sale events? And how to have a slot in these events? Right, that’s where some of the confusion comes in, I guess. Let’s clarify! So, under the GIIS, we are not selling some new tokens, we are not running a whole new ICO with the pre-ICO and other related events. It is more of a system, a protocol if you must, that helps the 'less fortunate' projects to continue developing, whilst protecting the token holders from the downfall of token value. That is the partnering projects tokens' value, not 'our own tokens’! Hope it makes sense and clarifies things a little! Q. It is important to anticipate, calculate and hedge risks whenever possible. do we carefully review projects to avoid scamming ICOs? What characteristics must a project have to be accepted by GIIS? Sure, it is very important to hedge the possible risks. Especially, for us, as the insurance underwriter, so we do not have financial losses if the project is merely a scam. That’s why we actually created a separate factoring department (just like banks have) to choose, examine and carefully select the projects to work with. We obviously don’t take some 'no-name' ICOs that no one ever heard of, not because they are not so interesting, but because the amount of work required is the same as with the other project, but would help less holders and smaller stakes are at question. So, to sum it up - sure, we do have specialists that make sure the projects in question are real and not some crypto scams. Q. Your service compensates the market value of various coins that have lost market value. What procedures do I need to take to get a coin reimbursed? Is it simple to have a coin refunded? So, it’s actually quite simple, subject to the project being accepted in the first place. So, as the owner of the project can reach us and discuss this partnership, we also allow the holders to get in touch and pretty much vote for it. This is done since many projects actually get abandoned by the creators, so they don’t respond at all. Nevertheless, if the holders of the same token reach out to us on a large scale - we can try to assist them and see what we can do. If that is the case - our main page actually has al l the info for the token holders to apply! It’s followed by a quick questionnaire, but it helps us understand the project in question as well as filter some of the possible scammers too! https://giis.lh-crypto.com/
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GIIS & Crypto Talkz AMA Answers. Part 1
Late September, GIIS held an AMA with Crypto Talkz, and we are excited to share the answers given during the session! This is your opportunity to learn more about our project — read the Q&A and, if you still have questions — ask them in the comments! Q. Could you describe GIIS and give us an introduction to the project? Well, GIIS stands for Global ICO Insurance System. Basically, as the name suggests, it works as an insurance for ICO projects that were not as successful as the investors (the token holders) hoped for. Initially, we had an insurance system implemented for our ICO even before it took place and the investors seemed to be very happy with it, so we thought why not do the same for other projects? And that’s exactly why we decided to widen the system out to include other projects, so that other token holders can enjoy the benefits of an insurance should the project they invested in turn out to be ‘not-so-successful’. Essentially, the holders of participating projects get compensation in case the price of the token decreases after the ICO, thus the insurance compensates the difference in the prices. Q. What are your main features that distinguish you from other projects and what competitive advantages do you have? To be fair, it is hard to talk about competitive advantages, when there are no similar projects. I mean, insurance is a common thing nowadays, but not for crypto projects. Moreover, most insurances for crypto projects are typically implemented by the owners of this particular project, they do not extend to other projects. So, this I guess can be seen as an advantage. But all-in-all, the GIIS initiative does what many crypto enthusiasts dreamt of, but could never get from the ICO developers. Q. So, How has the experience and background of your team been effective in the success of your project so far? Speaking of experience, it is important to understand that we are not a new company, in fact this is not our first project either. LH-Crypto originated as a new-generation broker, one of the first ones globally to include the classical instruments as well as crypto currencies in one place, from one account etc. And all of that came through with our own insurance system, like I mentioned, the investors were happy about it. So, we have not only taken the successful experience that we personally had, but also any issues or shortcoming that we faced – we improved upon those, so now, its even better under the GIIS. We not only are looking to get the compensation issued to the participants of those ICOs, but also to integrate, promote and further help develop the projects, therefore making the corresponding tokens more usable, available and accepted wider. In fact, there is a whole approach about making an eco-system for the projects so they get a breath of fresh air. Q. Are you working on any partnerships or marketing initiatives to help build awareness for your platform? Yes, of course, we are. In fact, it is not possible otherwise to spread awareness of a project like this, I mean the crypto community is generally built on partnerships and strategic cooperation. We have a number of crypto agencies that help us promote the GIIS initiative directly, but also, we strongly rely on the word in the communities – people share, invite others etc. Of course, we also reach out to some of the projects that we find interesting and promising and many of the owners are happy about it too. Well, it’s a win-win for everyone involved anyway. Also, as part of the awareness aim, we have a Bounty programme< but I guess we'd mention it a little later anyway! Q. And lastly, What are the future development plans for GIIS? Well, we are obviously looking to expand more and more, to include more projects, either by communicating with the owners, or by talking directly to the token holders of such projects. But, in short, we are going to include more ICOs under ‘our shield’, to make some more holders satisfied. In fact, most of our plans are listed on the website and anyone can follow them to see how each of the tasks proceeds within the general roadmap https://giis.lh-crypto.com
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Important information for Sharpay tokenholders Dear Sharpay ICO participants! We are glad to announce that the Global ICO Insurance System added Sharpay to its compensation programme. Sharpay has successfully passed Phase 1 of our programme, and now we start reimbursing tokenholders’ losses. This programme works as follows: take the token price that tokenholders bought it for and its current exchange rate. And we pay the difference to all the happy tokenholders who register for the programme. You can find all the instructions how to accomplish it here: https://www.lh-crypto.com/download/GIIS_Sharpay_Token_Holders_(En).pdf |
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Update for tokenholders
Dear ladies and gentlemen! Our project was launched about a year ago. It has grown noticeably, and the number of ICO projects that have joined the program is rapidly increasing exponentially. As of today, thousands of users of various ICOs have already been compensated for the value of their tokens within GIIS. The trust and interest in our project cannot fail to please, but, accordingly, the volume of work is also growing. As a result, our team does not have time to process your requests as quickly as before. We are working to solve this problem and assure you that all incoming applications will be processed as soon as possible, and all token holders who have applied to us will certainly be included in the insurance program. Thank you for your understanding. https://giis.lh-crypto.com/
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PHASE 1: CryptoBank The CryptoBank token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of CryptoBank ICO will have an opportunity to pass through KYC procedure within two months from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per one token is 0.05 €/tk.  |
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PHASE 1: DateCoin The DateCoin token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of DateCoin ICO will have an opportunity to pass through KYC procedure within two weeks from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per token is 0.066 €/tk.  |
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PHASE 1: Superbloom
GIIS Insurance Compliance Department reluctantly rejected the Superbloom ICO project application for compensation programme. The project was not found trustworthy and it seemed to GIIS team that it never tried to work on the problems it claimed to solve. To our great regret, we found this project lacking social impact and commercial potential and had to refuse from including it into our programme. 
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PHASE 2: Spacoin
Compensations for Spacoin tokens were transferred to all registered holders in full amount, the compensation for every token was fixed at 0.075 €/tk. We thank all the participants for the feedback! 
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PHASE 0: Superbloom
Superbloom aims to work with crypto investing. They help their users to start with crypto investing and give them a hand with diversifying their portfolio. Every year, they give out around 10-20% of the users’ Seed holdings as a gift. GIIS received an application for considering Superbloom token for the compensation programme. The Superbloom project also connects its users with the platform where they can easily buy Bitcoins online. GIIS accepted an application, it will take from five to seven days to make a decision. 
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PHASE 1: SKYFchain The SKYFchain token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of SKYFchain ICO will have an opportunity to pass through KYC procedure within two months from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per token is 0.045 €/tk.  |
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PHASE 1: Sharpay The Sharpay token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of Sharpay ICO will have an opportunity to pass through KYC procedure within two months from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per one token is 0.18 €/tk.  |
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PHASE 1: Spacoin
The Spacoin token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of Spacoin ICO will have an opportunity to pass through KYC procedure within two months from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per token is 0.058 €/tk. 
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PHASE 0: SKYFchain
SKYFchain claims to be the first B2R (Business-to-Robots) blockchain that involves payment channels for exchange transaction and airborne cargo drones. The team strives to introduce robots to logistics and exclude humans as intermediaries, they already have some success with airborne devices, and may one day include ground-borne and seaborne ones. One of the main purposes of SKYFchain is to integrate crucial information for all market players and implement execution of smart-contracts for transactions. GIIS received an application for considering SKYFchain token for the compensation programme. The SKYFchain project also connects its users with the platform where they can easily buy Bitcoins online. GIIS accepted an application, it will take from five to seven days to make a decision. 
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PHASE 0: DateCoin DateCoin is another dating service in our programme. Unlike others, it uses neural network and artificial intelligence algorithms to help people meet each other and ensure the best experience and great matches for everyone. The application was based on a working business model and has strong ties with blockchain. The DTC tokens are used for in-built purchases on the dating app, some services can also be bought with USD or Euro, but some are exclusively bought with DTC tokens, which can help support the DTC rate. DateCoin app is striving to eliminate fake accounts and accounts with unreliable personal information. It ensures cybersecurity for all of its users. GIIS received an application for considering DateCoin token for the compensation programme. GIIS accepted an application, it will take from five to seven days to make a decision.  |
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TaTaTu tokens holders have been compensated The TaTaTu token passed the selection stage and the decision was made to include this coin to the GIIS programme participants list. Participants of TaTaTu ICO will have an opportunity to pass through KYC procedure within two months from the launch of Phase 1. GIIS Insurance reserves the right to email participants information on the launch and content of the compensation programme. The exact volume of compensation of your tokens can be found in the Client’s Area. The expected compensation volume per one token is 0.16 €/tk.  |
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📣Telcoin tokens holders have been compensated 💭In late June we received an application for the GIIS Programme from the Telcoin project, which we then approved. Today we have even better news for Telcoin holders: compensations for Telcoin tokens were transferred to all registered holders in full amount, the compensation for every token was fixed at €0.0026/tk. 📚We thank all participants for their feedback!  |
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FixyApp was rejected from the GIIS Programme
GIIS Insurance Compliance Department reluctantly rejected the FixyApp ICO project application for the compensation programme. To our great regret, we found this project lacking social impact and commercial potential. 
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