Sat. Sep 25th, 2021

DAPUcases

Direct Apollo Partnership And Use Cases

GSX

Viewing 6 posts - 1 through 6 (of 6 total)
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  • #8550
    gregpeck
    Keymaster

    I noticed in the AMA today and in the Apollo Community chat room that some people claim they don’t understand the reasons for GSX and needed more information. If you are one of those who don’t get it let us know what you thinks about it and if the company is moving in the right direction (your opinion and point of view only).

    Steve answered a question on this below.

    Question:
    Hi @steviemac09 hope you are doing well. There is only one thing that bothers me about GSX coin. Once IEO is over, and GSX starts trading on exchanges, and we get x2 on certain fixed price (like u said for example .0008$), and in an example i have 100$ worth APL and receive 100$ worth GSX on price (for example again) 1GSX = 1$. Can this price (again example) 1$ per GSX coin, lose its USD/BTC/ETH value if people starts selling in big amount ? Why? Because there are many of us here who actually wants to buy APL with that money even over Bitcoin, so that answer is very important for us who really want to buy x2 APL in practice and not only theoretically on paper. Thanks in advance.

    Answer:
    This was an example, but that’s 100% of the asset value if the price APL is around .0008, and if you participate in the distribution, which will take effort, and it’s over the course of all distributions which will be 3-4 over 3-5 months. This means that only those holders that are holding and paying close attention will get this and it’s over a longer period.

    This means that it will come slowly and not all Apollo Holders will receive GSX, only those that participate which will be a very small amount of the circulating supply.

    You could look at it this way, how much is USDT worth, even when someone gets a tremendous number of them? USDT does not even claim that it has the USD to back the coin and it’s still sold for $1 on all exchanges, This is because when a stable coin has an absolute asset value buyers coming in will buy more if it dips right below that absolute value. I have not personally seen a situation where a stable coin crashes.

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