Frequently Asked Questions
What is GameX?
GameX is a crypto currency (specifically, a token) that is built on Waves Platform (like SRN and Envion on Ethereum Platform).
What is the purpose of GameX? Why create it?
As you have noticed, we are living a new era that is called “Crypto Currency”. Thanks to some idealist minds, we are changing the flow of river for every aspect of life. Breaking bonds and centralization with people-powered platforms.
To that end, we believe that gaming community may also benefit from such approach and start using it’s own cryptocurrency for financial transactions.
Decentralization, that is the new way!
Where will I use these GAMEX?
GameX has three startup projects that you will be able to use your hard-earned GX to spend. These are GameX Marketplace, In-die Club and GPU Mining Hub.
Also, you can hold your GX for future investments or exchange it with other cryptocurrencies.
Who are you? Who is behind GameX Project?
We are a group of individuals that gathered together to bring GameX Projects to life.
Our team consists of;
- 2 Software Developers
- 1 Art Designer
- 1 Technical Specialist
- 1 Project Lead
- 1 Community Manager
- 1 Finance Expert
- 1 Marketeer in Charge
Here’s our Team page: GameX Team
Our professional experience is based on E-Commerce, Logistics and Media (TV).
We are also in the industry of gaming as a hobby with creating mobile apps, addons and mods for some popular MMO/RPGs.
And in the aspect of Cryptocurrency world;
- We have a mini mining farm that mines for Bitcoin, Ethereum, Litecoin and ZCash
- We are also one of the stakeholders on Sirin Labs (SRN) and Envion (EVN)
How can I trust GameX? (ICO)
Honestly, you can’t trust us or other similar ICOs without question and with a perfect ease of mind. When we invest to such projects, we actually take and accept the risk of losing our investment, like our team did on SRN and ENV.
We never can be sure that they will hold their part of the bargain like you can’t be sure for the same about us.
Suprised that we don’t use words of “We are like that, we are like this!”? Well, we choose to be transparent because we sit on the same chair that you are on right now.
All we can say that, we believe in our project and have a great motivation for it. We will bring it to life whatever the outcome of ICO will be. ICO is a phase to expand our team and improve our equipments with taking community support. We think it as an extra, not as the essence of life.
What is GameX Marketplace?
GameX Marketplace is platform for GX holders to buy/sell and trade in-game items, game cards, key codes or even gaming hardware with eachother without paying any commission (except cryptocurrency network fee – it’s not something we can control) to the system.
Assurance of item and GX deliverance will be controlled on GameX servers and only after mutual verification of both sides that transaction will be completed. So, there won’t be any “I’ve sent 10 GX but my item haven’t been delivered!” thingies.
Also, GameX Marketplace will award traders with extra GX after each successful trade they make.
What is GameX In-die Club?
GameX In-die Club (we like how it sounds) is a platform that brings indie game developers and gaming community together.
Indie developers may present their projects on GameX In-die Club to get funding from the community without losing any percentage of gathered amount. Only thing that GameX asks will be the credit of funding source.
Indie game lovers on the other hand my assist developers and projects they believe in. While helping an individual or a small team to chase their dreams, supporters would also help to incresae GameX branding value.
Each successful gaming project that GameX funded will add to the value of GX market price.
GameX also will add a percentage of extra GX to the projects that community supports. We won’t just sit and watch!
What is GameX GPU Mining Hub?
GameX GPU Mining Hub is the general name of our future mining farms.
It’s not actually connected to gaming or gamers but the cryptocurrency market itself.
We believe that, as gamers and visual art designers, we are the true masters of GPU mechanics since that is the main component of our gaming/designing computers.
We were forcing the limits of our cards since eons, we know what makes them tick! We know how to handle with heat or how to increase our clock / memory frequencies without getting artifacts! Why not use everything we know for mining?
With this over-achieved self esteem, we decided to build mining farms for our community.
While the exact location, equipment and size of the farm is not certain yet (it depends on ICO results and cryptocurrency regulations of countries), we have added it as a side project for GameX.
GPU Mining Hubs will work for only GX holders and will have two different usage scenarios;
- You may rent specific mining rigs for a period of time (depends on your request) and may use this rig on any mining pool you want until it’s renting period ended
- You may rent a hashrate, again for a period of time, and earn passive income at the end of the each day. Your earnings will be calculated after taking the costs of maintenance and electricity and can be paid as BTC or GX.
Other currencies may be added if required by community.
I am confused! What is the difference between GameX and GX?
GameX is the name of our platform.
GX is the symbol of our token like BTC, ETH or LTC. When we mention something about our token, we prefer to use GX.
What is Waves Blockchain?
Waves is a platform that provides solutions for storing, trading, managing and issuing digital assests with supporting simplicity and enhanced security.
It’s similar to Ethereum Blockchain and has features similar to Smart Contracts.
Current market cap of WAVES is more than 1 Billion USD, which also makes them listed in TOP 100 Cryptocurrencies.
Official Website: https://wavesplatform.com/
CoinMarketCap Link: https://coinmarketcap.com/currencies/waves/
What is your Short-term Plan? (Outdated)
After we make our announcement, Presale period will be held for 3 days.
Presale is a privileged period to purchase GX with it’s cheapest rate. It’s intended for our working partners and friends. GX still can be bought by public in this period but minimum amount to purchase is 10.000 GX.
When Presale period ended, ICO period will take place.
We have divided this period to 3 different cycles. Each cycle has it’s own interval, GX price and minimum amount to purchase;
- ICO 1st Stage
- Duration: 3 Days
- Min. Amount: 150 GX
- Price per GX: $0.15
- ICO 2nd Stage
- Duration: 5 Days
- Min. Amount: 200 GX
- Price per GX: $0.20
- ICO 3rd Stage
- Duration: 10 Days
- Min. Amount: 250 GX
- Price per GX: $0.25
With the ending of token sale period, distribution of bought tokens will be made to the investors. We plan to complete distribution of these tokens before or at the beginning of February.
After competing this Presale, ICO and distribution peroids, GameX will start developing it’s projects immediately. Please see our graphical roadmaps for more clear view.
What about your Long-term Plan? (Outdated)
Our main focus will be on GameX Marketplace and it’s development already started at some point. We plan to release it’s first Alpha version to some of our GX holders in a few months.
ICO period is important to set our goals and priorities. If we can get enough support from the community, our core and outsourcing team will be expanded with hiring new team members. With more manpower, we may start each project simultenously.
Currently we plan to open our first GPU Mining Hub before GameX Marketplace’s Alpha release. Until we create something that can be seen and used by our community, we don’t want too much distractions.
With this plan, GameX In-die Club’s development probably will start around June or July 2018.
What do you expect of GameX's future?
Our first priority is to create what we have promised to the community over these ICO periods. We don’t want to act like politicans with giving false promises over election times 🙂
But thanks to our wide range industrial options, GameX may become a brand by itself. Limit is the sky as long as we have the motivation and community support.
We don’t want to speculate while we have much to do but our goals for years to come is something like this;
- Increase the value of GameX as a brand with extensive marketing
- Implementing GX as a payment system to some major gaming platforms like Steam, Origin, uPLAY, GMG, GOG, GameStop, G2A and Kinguin
- Creating GameX Store to sell PC, XBOX and Play Station games
- Being a publisher for community supported indie games
- Building our own game studio and start developing games for various platforms
And yes, these are really long-term plans and most of them require a great market and branding value for GameX, extensive funding and recognizability in the industry.
But like Martin Luther King, Jr. said; “You don’t have to see the whole staircase, just take the first step.”
Where is your White Paper? (ICO)
White paper is originated from 1920s to held goverment policies within for some countries around the world like United Kingdom and Canada. With time it’s shaped and took a role on business marketing with havin presentation and details about the product that companies own or manufactured.
It’s an unofficial document and we believe it’s not read by many with it’s extensive technical and business-based details.
We decided to present our project with questions and answers with believing it would be more efficient.
What if you can't fund GameX as you expected? (ICO)
We haven’t set a min. or max. goal for our project funding amount since it won’t affect our presence or project plans as a whole.
A good financial support of communty would help us to hire new team members, improve our equipments and compensation of other one-time or outsourcing expenses.
So, yes a good funding will speed things up and maybe improve general quality of our products at early stages, but nevertheless, each investor will get their tokens as soon as ICO finishes and our journey will begin!
What is the exchange rate of GX? (Outdated)
Initial rate will be 1 GX = $0.10 at Presale period. Then with each ICO cycle, price will rise with extra $0.05 until it reaches to $0.25.
After our GX will take it’s place on several exchanges though, we can’t know how it will fare since exchange users set their currencies’ value themselves. You know the market mechanics if you are already here and you know how Bitcoin fared if you catch our drift 🙂
Which exchanges GX will be listed in?
After ICO and token distribution period ended, we will be listed on Waves Decentralized Exchange (Waves-DEX) immediatelly. Probably it will happen at the first days of February. That will be our first exchange.
After that, we will start applying for other exchanges around the world. Some of the popular ones like HitBTC and Cryptopedia requires some initial payment which is changing between 1 – 100 BTC.
With new crypto currency emerges each day, exchanges started to be picky about what to list, that’s why they charge these big bucks.
If our funding can compensate such expensive listing and our community votes for it, we may use our reserve to be listed on such popular exchanges.
What is the maximum supply limit of GX?
It’s, 10.000.000.000 (10 Billion)
How much GX will be generated? (Outdated / Changed)
Here is the calculation for inital GAMEX generation which will happen after ICO period completed;
Initial Generation: (Presale + ICO Sales) + 10% of Total Sale
E.g.: (100 + 120) + 10% of 220 = 242 GX
- “10% of Total Sale” contains bounty program reward, founding team share and GameX project reserve.
After initial token generation, incremental generation periods will take over.
How will you distribute initially generated GX? (ICO)
Token Holders: 90%
GameX Project Reserve: 5%
Founding Team: 3%
Bounty Program Reward: 2%
What is Incremental GX Generation? (Outdated)
Since GX is a token, it can’t be mined and since we intend to use it as a currency not as a stake, we will need to supply the market with newly generated GX.
Currently most of the token foundations on the market, generates this new tokens as and when they see fit. For example, they may have 10 million tokens on the market and tomorrow they may generate and sale another 10 million. It is seemless from the aspect of their token holders, while they earn from this 10 million, it would just shake this token’s market value a little if they don’t be so greedy and sell it instantly with low value.
We want to make this new token generation more transparent and with rewarding our token holders, because we value trust more than hot cash. Cash, we can earn it with our projects, trust is not that easy.
So we made a plan for this incremental generations. It’s graphical explanation is just above section, probably you saw it while you were sliding here. Please examine it.
Here is the highlights of this plan;
- We will only generate new tokens if GX is keeping it’s market value above a limit. Generating new tokens and releasing them on markets would lower it’s value so we will only do it if GX increases it’s value or at least hold it.
- Each week 1 Million token will be generated as long as we keep our market value above limit. This newly generated token will be added to the GameX Project Reserve.
- When GX doubles it’s market value, a one-time generation will take place. It will be 4 Million GX and will be distributed as 75% GX Project Reserve and 25% Major GX Holders.
- Weekly generation will continue with newly set minimum limit. Which in this scenario it is $0.50.
- When GX triples it’s market value, another one-time generation will take place and it will be 8 million this time. This time it will be also distributed to every member of the GameX community as long as they hold some GX. Ratio is, 50% GameX Project Reserve, %25 Major GX Holders and 25% GameX Community
- This cycle will repeat itself with each time a new min. market value is set.
With this calculation, it will take around 200 years to reach maximum GX supply limit. This is called as “Controlled Supply” like you can see on Bitcoin. Reaching it’s limit of 21 Million of Bitcoin will take around 160 years.
What is GameX Project Reserve?
You may think it as GameX Vault.
Initial token generation, that will take place after ICO completed will put first GX to this vault with a 5% ratio of total token sale. (E.g. 100 GX sold in ICO period, while holders get their 100 GX, newly generated 5 GX will be added to the GameX Project Reserve)
GameX Project Reserve will compensate every cost we endure like development, marketing, logistics, equipments, outsourcing, mining farm setup/maintenance and other external costs while conducting our projects.
Reserve won’t be used for costs only. Some contests, give-aways and promotional programs will be supported from this pool.
This reserve will have only GX though and it will be converted to cash when a project needs funding. This exchange will be monitored by our financial advisors so that using these GX on the market won’t affect our unit based market value.
Basically, there won’t be any “10 million GX dropped on the market!” suddenly to fund something.
What about that Bounty Program? (Outdated)
Bounty Programs are a collective of community to support newly emerged coins and tokens with their marketing to increase their recognizability.
It’s generally takes place over Bitcointalk.org and some ICO listing websites if there is any ICO period for this coin/token.
We have a bounty program which participants will be rewarded with the 2% of total GX that sold in ICO period.
Details of our program, rewarding system and other conditions can be found on Bitcointalk.org
How can I get GX? (Outdated)
GX can be purchased with sending us it’s equal worth in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Waves (WAVES), Litecoin (LTC), Bitcoin Gold (BTG), Monero (XMR) and Verge (XVG) when we are in Presale and ICO stages.
After ICO is completed, you can only get it from other holders with using exchanges like Waves-DEX.
What is the min. amount to purchase GX? (ICO)
- Min. Amount: 10.000 GX
- Price per GX: $0.10
1st ICO Stage
- Min. Amount: 150 GX
- Price per GX: $0.15
2nd ICO Stage
- Min. Amount: 200 GX
- Price per GX: $0.20
3rd ICO Stage
- Min. Amount: 250 GX
- Price per GX: $0.25
Does GameX have a Wallet?
Since GX is a token of Waves Blockchain, we use Waves Wallet.
To receive and send GX, you need to have a Waves Wallet which you can create one easily here (It’s free like any other wallet): https://waveswallet.io/
How and When Will I get my GAMEX? (ICO)
After you invest in GameX Project with paying from one of the cryptocurrencies that we listed and when transaction completed to that specific address we gave, you will be a verified GameX Investor.
Your sender identity will be your wallet address that you made your transaction, and your investor identity will be your Waves wallet address. Here is an example;
- Let’s think you have caught our 2nd ICO period, which price per GX is $0.20 and you decided to purchase 1000 GX .
- You wanted to pay it with your Ethereum (ETH).
- 1000 GX would make $200 which is around 0.19596316 ETH.
- You’ve used your ETH Wallet Address: XXXXXXXXX to send 0.19596316 ETH (network fee excluded, you should pay it yourself) to our ETH Wallet Address: ZZZZZZZZZZZ.
- While you are investing on our system, form that you will be using will want you to type a Waves Wallet Address (WWWWWWWW), so that we will be able to send your GX there.
- Your ETH Wallet XXXXXXXX will be your Sender Identity.
- Your WAVES Wallet WWWWWWW will be your Investor Identity.
After ICO period ends and around the beginning of February, your bought GX tokens will be sent to your WAVES Wallet.
What if BTC/ETH/XRP/WAVES and other I've sent lose it's value until I get my GX? (ICO)
Cryptocurrency amount you send to purchase GAMEX will be converted to USD with rate of the moment that you started your transaction process.
Our conversion rates based on CoinMarketCap.com data since it takes the average of all active markets of corresponding currency.
So, If the amount you’ve sent lose it’s USD value while it’s waiting for transaction confirmation on a blockchain, GameX will round it up and will credit your wallet without cutting any GAMEX.
E.g. “You’ve sent 1 BTC while it’s value was $10, but until it reaches GameX, it becomes $8. In this case, we will fill this gap and round it to $10 again.”
If that amout you’ve sent was already lower than it should be, then until you have reached that min. value limit, your GAMEX will be held on our wallets.
E.g. “You’ve sent 0.9 BTC while min. GAMEX limit was equal to 1 BTC, your tokens will be on hold until you send that 0.1 BTC to our wallets.”
Is there any referral program? (ICO)
Yes! If an investor types your e-mail address to the referrer area on our “Invest in ICO!” page, your account will be credited with extra 10% GX of new investor’s purchase amount.
An Example Scenario
- You’ve purchased some GX while our ICO period is active.
- You mention Jack about GameX Project and he decided to invest too!
- While filling his purchase form over our Invest in ICO page, Jack types your e-mail address to the “Referrer Email” field.
- Jack’s purchase of 100 GX, rewards your account with an extra 10 GX! Congratulations!
Your referral program GX rewards will be sent with other GX tokens you purchased, after ICO period ends.