GeFi
Searchโ€ฆ
๐Ÿ”Ž
General FAQ

What is GeFi?

GeFi was established by gathering some of the leading DeFi protocols across the globe to advance the collaboration of DeFi protocols across blockchains and borders. GeFi (in short for Gemstone Finance) is derived from todayโ€™s technologically advanced society, creates this crossover between traditional mining equipped with virtual mining (staking) for blockchain & crypto community to engage/access into the world of modern gems mining ecosystem. GeFi is a decentralized blockchain ecosystem built on the Binance blockchain protocol (Binance Smart Chain, BSC). GeFiโ€™s protocol features a simple user interface built on top of a sophisticated engine that supports pooling with reduced impermanent loss. GeFi introduces 2 tokens circulating in the entire ecosystem, GEG (GeGem) and GES (GeStone).

Why Binance Smart Chain ( BSC )?

Binance Smart Chain (BSC) offers a rich and growing digital asset ecosystem powered by Binance DEX, the leading decentralized exchange, which means, cheap transaction fees that reach as low as 1 cent, high performance with a network capable of producing a block every 3 seconds, cross-chain DeFi mechanisms that increase DeFi interoperability, built with dual chain architecture (super suitable for GeFi Protocol), flexible and supportive Binance ecosystem that funds and bootstraps many DeFi projects apart from BSC constantly serving the role of enhancing the existing user experience for DeFi users.
To top that off, BSC was specifically designed to enhance scalability in blockchains with high throughput for easy implementation of smart contracts to build scalable decentralized applications. As GeFi is equipped with an extensive scalability potential, BSC proves to be the most suitable ecosystem for GeFi to be deployed.

How does GeFI work?

Currently, the majority of our farms are deployed on Pancake Swap. Essentially the farms on our platform get permission from individuals via smart contracts to stake on behalf of individuals. Some of the vaults that will be introduced are: 1. GEG-BNB 2. GEG-BUSD 3. CAKE-BNB 4. BNB-BUSD As starters, GeFi adopters / GeFions were needed to purchase sGEG through public sales which were segregated into 3 phases over the period of 1 month. Once all adopters received their respective sGEG, they can then stake at the ISO pool which is estimated to launch on 12th August 2021. They can stake their respective sGEG to earn GEG at the rate of 1 sGEG : 0.1 GEG; sGEG cannot be traded or swapped, as it is only able to be staked in the ISO pool to earn GEG. 10 sGEG can stake for a maximum of up to 1 GEG in 365 days according to ISO pool contracts. All sGEG, inclusive of those that are not staked, will be fully destructed upon the end of ISO pool period in 365 days.

What is GeGem (GEG) token?

GEGEM (GEG) is the native governance token within the GeFi protocol. Holding GEG is not only beneficial for individual profits, but also to ensures that the GeFi Ecosystem runs smoothly. GEG can ONLY be obtained from staking sGEG. GEG can be termed as the monetary incentives for GeFions in the decentralized finance vaults while also having another function as a medium to purchase privilege items on the upcoming NFT marketplace & NFT Games. With a total supply of 95,000 units of GEG, the targeted listing price for every GEG is set at $80.00.

Where do the rewards come from?

The staked LP are all used to stake in Pancakeswap and we automatically compound yields via Pancakeswap and pay the rewards back to the vault/farm.

What is the Fee Structure?

There is a 0.3% Withdrawal Fee from the farms. This fees exists to maintain the smooth flow of the ecosystem and to prevent possible exploitation from individuals acting under bad faith. When you choose to claim/harvest profits from a pool, a 30% performance fees is collected and will distribute accordingly to the performance fees distribution. Performance fees distribution : - 10% Affiliate Program - 40% Community - 10% Treasury - 10% Development - 30% Safety Net

How to determine daily percentage gains?

Because the APY is constantly changing on PancakeSwap, the APY on GeFi platform is constantly changing. Furthermore, because this APY is calculated via compounded (exponential growth), it cannot be calculated in a linear manner (i.e APY/365). So as long as you hold your tokens in our farms for an extended period of time, your assets will continue growing exponentially.

Why does my deposited balance decrease?

Your deposited balance is the instantaneous sum of your deposited principal and your unclaimed reward at the moment that you claim and immediately redeposit the reward into the pool. At some points, the balance may decrease because the price tokens relevant to the pool may have fluctuated.

How is the reward calculated?

At the moment of withdrawal, the performance fee is exactly calculated (30% of the rewards) and GEG is rewarded.

Why is my TVL or deposit showing 0?

If you see 0 TVL or deposit just try refreshing your browser or reconnecting your wallet. Blockchain may lag sometimes.

Why are the transaction fees so high?

The gas limit is the maximum amount of gas that can be spent on a transaction. Some pool's gas limit is set higher than others even on claim actions. The gas spent will be usually half of the gas limit set. You can always check the transaction on bscscan.com to see more details. This is due to the complexity of our contracts and to ensure the transactions do no fail in case of BSC instability or high transactions load.

Who is behind GeFi?

The GeFi project was created by a team of developers and blockchain specialists. Like all other Yield aggregator projects, we believe our code is who we are! Thus, we ensure to provide full transparency and let our code speak for itself.

What are the risks of farming on GeFi?

Systematic RISK

The Systematic RISK would be a decrease of the monetary value of assets deposited, be in BNB, BUSD, CAKE, etc. For example, BNB could be $500 when you deposit and $300 when you withdraw.

What is NFT marketplace used for?

As we all know, NFT marketplaces are platforms where NFTs can be stored, displayed, traded, and in some cases minted (created). These marketplaces are to NFTs what Amazon or eBay are to goods. In order to access and use these types of marketplaces, a crypto wallet is needed (Metamask, Token Pocket, Wallet Connect) and users are prompt to connect their wallet by extension or DAPPs.
Our NFT Marketplace is a platform where Stone, or known as GeStone (GES) are deemed as the main mode of the transaction within the ecosystem. GeStone (GES) can be used in the marketplace as a mode of currency, as NFTs, as auction bids, as Creators, as well as games! GES is also widely accepted within other stores using the Binance Smart Chain.
We combine DeFi & NFT in a single platform, a hybrid platform where both the DeFi protocol and Non-Fungible Tokens can be integrated which creates another level of user experience. This combination of protocols enables us to provide a marketplace consisting of Market Explorer, Cross-Chain & Cross-NFT Stores, NFT Creators, and Gamification.
GeStone (GES), with a total supply of 950,000,000; acts as the main circulating currency in the entire NFT marketplace ecosystem, consisting of the marketplace, trading, swap pool, auction, DAO voting, and NFTs Digital Assets which are tied to physical products.

Can I create my own NFT and trade in the marketplace?

Our NFT Marketplace emphasizes digital artworks, artistsโ€™ collections, gaming items, physical products especially those that are jewelry-related, precious stones, and many more. Users are able to buy, sell, auction pre-owned NFTs in the entire marketplace. Apart from that, the NFT Creation function enables users to create their very own NFT easily with the interconnected BEP-721 & BEP-1155, which means that new users who do not own NFTs previously, will be able to have their very own unique, illustrative, creative, exclusive work of art to turn into a digital asset.

How GeFi gamification works?

The gamification segment under the GeFi ecosystem is blockchain-powered games focusing on multiplayer collectibles NFT cards, farm building simulations, and battle game simulations. More to come soon.
Last modified 1mo ago