Ganymede new tier system
When pivoting is essential.
A positive three-week assessment
Ganymede has launched for three weeks now. Our trading bot did not disappoint and the feedback from our users is excellent.
The monitoring of our accounts is in accordance with what we announced :
- Spot mode: expected PnL to be ~13% this month
- Low risk: expected PnL to be ~25% this month
- Medium risk: expected PnL to be ~35% this month
Considering the market condition, these results are phenomenal to us: our product delivers!
We have just released two new features:
- A bearish mode that takes short on low and medium risks
- Subaccount trading: allows you to use your subaccounts to trade (only on Spot mode though)
More features are on schedule such as “One Coin Selection” which will allow you to select the pair you want Jupiter to trade for you.
We are aware of some bugs and do our best to fix them as soon as they pop up.
Great service but token issues
With the launch and seeing how our token behaves we came to observe some issues :
1. Security, not utility
In the current system, the token is considered as a security token, not a utility token. This problem is mainly due to the fact that you have to hold the token to access our service. Security tokens are highly regulated and this will become an issue if we don’t take action while we are still in an early stage. We need to make sure $GANY is a utility token.
2. Hard to access
One can understand that with the current market situation and the price action on $GANY it's hard to give the system a chance with an entry price of around $800. Moreover, the low liquidity in the pool makes the tier becoming more and more expensive and the service less and less attractive especially for people willing to try.
How to solve the problem?
After some thoughts, we came up with a solution that will solve these issues and that we think will greatly benefit past and future Ganymedians.
We wish we could keep the “just hold $GANY” because it's an excellent selling point, but this makes it a security token so it must be changed.
Also to be attractive at all times and any circumstance, the price to access our service must be fixed in dollars and paid in $GANY.
Jupiter will be accessible via a monthly or annual subscription payable in $GANY. Moreover, the price of this subscription will be indexed on the dollar so no matter what the $GANY price is when you subscribe you will always pay the same price.
This system offers many advantages
- Trying Ganymede will be much more affordable and independent from Gany’s price volatility. You can now try Ganymede from $15/month! (4 $GANY as we publish this article)
- As a user of our service, you are not impacted by our token price volatility. You focus on the product and not on the token. If $Gany’s price dumps, it doesn’t matter, your money is safe on FTX and is making profit.
- You can choose only to use the trading service, or you can also trade/hold $GANY. You can also do both. Keep in mind that the $GANY you own can be used to pay for a subscription (if you bought cheap $GANY, and when you want to subscribe the price has doubled, it’s like you have a 50% discount).
- Every user/holder benefits from the bonus reward program, which ends up being more interesting. It provides you with either cash (if you decided to sell the $GANY), or free subscription (depending on how many you receive of course).
- Create volume and liquidity. In order to keep using the service, there will be constant demand on the token from the user, and our BANK wallet will be there to provide liquidity for $GANY as a market maker.
Will $GANY become a stable coin then?
Not at all! The plans for $GANY are unchanged : long term holder will be rewarded. Moreover, with this new system, we should see a constant growth of the token. The price won't be a problem anymore to use our service, so we should see the number of users increasing as well as the token price. In addition, our tokenomics system is still practically unchanged, so buyback and burn and Bonus Rewards are still a thing and will naturally increase the token price.
How will the new system work?
When you want to subscribe, the telegram bot will create a new BSC wallet (unique for every user). This wallet will be used for you to send payment in $GANY and allow our system to confirm the payment. Once confirmed, the $GANY on the wallet gets transferred to our “BANK” wallet, which we use to provide liquidity in the pool.
Our system will calculate the amount of $GANY you need to pay when you subscribe and ask for payment within 3 hours. If not paid on time, the system will recalculate and ask for a new payment.
Every month, the bot will warn you in advance, and you will be able to proceed with payment 2 days in advance. If you don’t, Jupiter will be deactivated, and you will have 30 days to renew your subscription otherwise, your account and payment wallet will be deleted.
You can upgrade or downgrade your tier every month. The bot will ask you each time which tier you want to pay for. There should also be a possibility to upgrade your tier at any time just by paying the difference (see how devs go on that).
What is the new Tier program, and how is it calculated?
The new tier program has been improved. It covers a better range of users and has been calculated to be fair to everyone. An important thing we have changed is that the bot will not stop trading if your account exceeds your tier limit! The bot will use and limit itself to the maximum your tier allows it to trade with.
Basically, we ask you to pay 2% of your tier’s maximum trading allowance. This has been calculated as 20% of the 10% profit you would make using only the spot mode (which generates 10% monthly on average). So if you use risk mode, use multiple accounts… You keep all the extra profit!
When you subscribe annually, you get a 20% discount.
How will the transition work?
You already hold enough $GANY to use the bot.
Until the new system is launched (end of June/early July), you will still have access to the bot, and nothing changes. After the system launch, you gain access to a lifetime license of you current tier as long as you hold all your token. As soon as you sell one $GANY, your account will stop, and you will have to subscribe monthly or annually to keep using the service (you can use the $GANY you hold to pay for a subscription of course).
You don't have $GANY, or you hold some but not enough to get a tier
You can wait for the new system to take place or buy more $GANY to get in a tier and keep it as a lifetime once the new system is launched.
After the new system is live, you can upgrade your tier by paying only the difference. For example, if you have a lifetime BRONZE and want to upgrade to the SILVER, you only need to pay 69–15 = $54 monthly or $540 annually.
What change for the tokenomics system?
Callisto will keep working as before, but the profit it makes will be allocated more efficiently:
20% used for marketing and expenses
40% used for the Buyback and Burn program
40% used for Liquidity provider. In order to improve our token liquidity, we will use Callisto's profit to create LP tokens for $GANY
Bonus reward program
Any $GANY holder is eligible for the Bonus Reward program. However, users of the service have more chances to get rewarded. Once you receive your Bonus, you can either sell it or use it for a free subscription.
It is a bit hard for us to admit that we didn’t anticipate the problem we face with our token, but the sooner, the better. We have considered different aspects of the problem and have adjusted the system so all issues should be fixed. We hope you understand our move and realize that this is for the better.
We believe this new system is far more powerful than the previous one, better for the users, and make Ganymede a lot more attractive for newcomers.
- Our bot works, and we are working hard to improve it
- We must change the way you get access to the bot through our token for the benefit of all
- Our service will now be available via subscription paid in $GANY
- If you already have a tier you can keep it as a lifetime subscription as long as you hold your token
- Anyone can get a tier before the switch and keep it as a lifetime sub afterward
- The current system will stay in place until the switch (late June early Jully)
Thanks for reading we hope you understand our move!
The Ganymede team.
🌐Telegram Community (http://t.me/ganymedetoken)
🌐Follow Twitter (http://twitter.com/ganymedetoken)
🌐Telegram Annoucements Channel (http://t.me/ganymedetrading)