frequently asked questions

What is GATCOIN?

The GAT Coin is a new ERC-20 crypto-currency token that will be launched on the Ethereum main network.

 

GAT Coin is part of a broader enterprise system (GAT System) for global merchants to issue their own branded digital tokens (Merchant Tokens). The GAT System will enable enterprises to issue digital tokens to a mass consumer audience with minimal set-up, allowing them to quickly adopt token usage as part of their overall marketing strategy.

 

The GAT Coin will be the exclusive currency of exchange for the trade of Merchant Tokens on the GAT Exchange.

 

How does the GAT System work?

In the GAT System, merchants create and issue their own branded digital tokens called “Merchant Tokens”. Merchant Tokens are displayed in a beautifully-designed mobile token wallet.

 

Merchant Tokens then circulate on private consortia networks that are accessible only by participating enterprises and consumers. Merchant Tokens are then used to buy or redeem real products and services from participating merchants.

 

At its core, the GAT System is an enterprise solution for global merchants to issue their own digital tokens to a mass consumer audience. The project seeks to create a controlled environment for enterprises to deploy digital tokens, thereby reducing traditional barriers to blockchain adoption faced by mainstream companies seeking to leverage blockchain innovation.

What does 'GAT' Stand for?

“GAT” stands for the “Global Awards Token”.

What problem does GATCOIN try to solve?

The primary objectives of the GAT System are:

 

Drive Consumer Engagement: The average consumer is a member of 29 incentive programs. However, 76% of consumers do not use their shopping incentives. This is a significant waste of corporate resources in efforts to activate consumer engagement. By transforming shopping incentives into liquid and tradable digital tokens, merchants can reduce waste and provide consumers greater flexibility with their spending options. For merchants, issuing tokenized shopping incentives significantly enhances engagement, consumer satisfaction, and ultimately drives better business.

 

Consumer Data: Merchants will obtain invaluable data on token circulation, token usage, consumer spending preferences, and customer demographics. Efficient use of this data brings benefits to both merchants and consumers. Merchants can engage directly with a more relevant target audience. Consumers can receive offers that align with their preferences and interests.

 

Eliminating Spam: By tokenizing shopping incentives that are tradable for GAT Coins, merchant tokens will have monetizable value. Whether a consumer “spends” merchant tokens to activate incentives or not, merchant tokens will always be worth something in the hands of the consumer. This eliminates the “spam” effect of traditional consumer mass marketing, as each merchant token can ultimately be traded for GAT Coins. GAT Coins, in turn, can be traded anywhere in the world for other crypto-currencies such as Bitcoin or Ethereum.

 

Sofa-to-Store Marketing: The GAT System puts power back in the hands of brick-and-mortar retail stores. GATCOIN’s A-DropTM technology, allows merchants to send digital tokens to mobile phones by geo-location, demographics, and spending preferences. This is intended to drive real-time foot traffic into stores, at which point, in-store shopper marketing strategies can be used to bring consumers to the “zero-moment-of-truth” (ZMOT) of their purchasing decisions.

 

Crypto-Currency Exchange for the Masses: The GAT Exchange will be a full-feature crypto-currency exchange that is purpose-built for a mass consumer audience. Each holder of merchant tokens is a GAT Exchange crypto currency exchange account holder. GATCOIN seeks to drive mass consumer awareness of and engagement with not just merchant tokens and GAT Coins, but with all other crypto-currencies that may be traded on the GAT Exchange in the future.

When does the GAT Coin sale take place?

The GAT Coin Public Pre-Sale will commence on October 28, 2017 at 12:00 UTC.

Sale Date EN

 

The public Pre-Sale ends on November 28, 2017 at 12:00 UTC or until all GAT Coins are sold out.

What is the distribution schedule?

A fixed supply of 1 billion GAT Coins will be created for operation with the GAT System. Thereafter, no further coins will be created. Of the total supply of GAT Coins, 10% will be allocated to the GAT Foundation. 10% will be allocated to the developers and their technical partners. 80% will be allocated to the general public.

 

From 28 September 2017 to 15 January 2018, 200,000,000 GAT Coins will be distributed to early adopters as follows:

 

Private Sale Commencing 28 Sep 2017

 

70,000,0000 GAT @ 1 ETH = 1480 GAT, +35% bonus

 

6-Months Post-Sale Lock-up

 

Public Pre-sale 28 Oct 2017 – 28 Nov 2017

 

15,000,000 GAT @ 1 ETH = 1480 GAT, +20% bonus

 

Public Token Sale 15 Dec 2017 – 15 Jan 2018

 

115,000,000 GAT @ 1 ETH = 1480 GAT

What crypto-currencies are accepted in the sale?

ETH only. However, if you would like to contribute in BTC, you may do so through Coss.io

What is the price of GAT Coins?

Public Pre-sale 28 Oct 2017 – 28 Nov 2017

 

15,000,000 GAT @ 1 ETH = 1480 GAT, +20% bonus

 

Public Token Sale 15 Dec 2017 – 15 Jan 2018

 

115,000,000 GAT @ 1 ETH = 1480 GAT

 

GAT Coins will be allocated to buyers on a first-come, first-served basis.

 

Each buyer will automatically receive an amount of GAT Coins (+ applicable bonus) corresponding to the amount of ETH transferred to our Ethereum contract address divided by the ETH sale price.

 

The ETH:USD exchange rate will be determined approximately 24 hours prior to sale.

 

Please note that GATCOIN reserves the right to amend, at any time, the sales price, number of GAT Coins for sale, and the timing of the sale. Any changes will be announced on our website and official Telegram and Twitter channels.

How do I buy GAT Coins?

To buy GAT Coin you will need to send a desired amount of ETH to the Ethereum smart contract address published on the token sale page of this website. To acquire ETH in preparation for the GATCOIN sale, please read our buyers guide HERE

 

The token sale process will immediately stop at 12:00 UTC on 28 November 2017 (in the case of the Public Presale) and on 15 January 2018 (in the case of the Public Token Sale), or once all GAT Coins have been sold out. Any ETH sent to the contract address after the sale has been stopped will be returned automatically to the buyer. Do not send ETH to our address after the sale has stopped, as you will incur gas costs during the return of ETH to you.

 

Never send ETH to any address other than what we publish on the token sale page of this website. We will never publish an Ethereum smart contract address on social media outlets such as Telegram, Slack, Twitter, Redddit etc., or send you an email with an alternative Ethereum address.

When can I get my GAT Coins?

You will receive GAT Coins immediately after the network has confirmed your transfer of ETH to our Ethereum contract address.

 

You can view your GAT Coins immediately after you have purchased your GAT Coins. To view your GAT Coins, you need to “watch” our GAT Coin token in your Ethereum wallet. This is a standard function of all Ethereum wallets. We will post step-by-step instructions on how to “watch” your tokens on this website.

When can I trade my GAT Coins?

Once the Public Token Sale is completed (Dec 15, 2017 – Jan 15, 2018) you may freely transfer your GAT Coins.

What is the difference between GAT Coins and Merchant Tokens?

The difference between GAT Coins and Merchant Tokens is summarized below:

 

GAT Coins:

 

  • Available during token sale
  • Limited supply of GAT Coins
  • Will circulate on the main Ethereum public network
  • Freely transferable
  • Tradeable on major exchanges
  • Storeable in all major client-wallets
  • May not be directly exchanged for merchant products
  • May be exchanged for merchant tokens on the GAT exchange

 

Merchant Tokens:

 

  • Not available during token sale
  • Used to redeem rewards, products and services
  • Unlimited supply and variety
  • Issued by participating merchants
  • Will circulate on private consortia GAT networks
  • Not available on the main Ethereum public network
  • Storeable only in the GAT Wallet
  • May be exchanged for GAT Coin and other Merchant Tokens on the GAT Exchange
Was there any GAT Coin pre-sale?

The GATCOIN Public Presale commences on 28 October 2017.

Is there a minimum purchase for GAT Coins?

The minimum contribution accepted during any period of the GAT Coin distribution is 0.1 ETH. Smaller contribution amounts will be rejected.

How can I see how much ETH has been contributed during a token sale in 2017?

The amount of ETH received during the sale will be displayed on the home page of this website.

Why can’t PRC and NY persons purchase GAT Coins?

We have decided not to issue GAT Coins in the PRC and in the State of NY out of regulatory caution. While in our view, GAT Coins are neither securities, shares or investments, attitudes of securities regulators are evolving rapidly and could possibly result in GATCOIN becoming subject to regulation if GAT Coins were sold in these jurisdictions. We wish to emphasize that GAT Coins are not designed for investment or speculative purposes, and should never be considered as a type of investment. GAT Coins are designed specifically as a digital tool for holders to participate in the trading of Merchant Tokens.

 

Nevertheless, PRC persons and residents of the State of New York should not purchase or attempt to purchase GAT Coins.

Are there network fees when transferring GAT Coins?

Yes, the GAT Coin is an ERC-20 compatible token; therefore, transfers will be subject to ETH gas fees like all other transactions on the Ethereum network.

Where do the proceeds from the GAT Coin distribution go?

All the proceeds from the token sale go to the development of the GAT System and the global roll-out of the GATCOIN business.

How are the funds secured?

All funds collected during this sale will be deposited in secured multi-sig wallets. Keys to these wallets will be held by several officers and executives of GATCOIN, so that all outgoing transactions will require verification by multiple trusted officers.

What is the GAT Exchange?

The GAT Exchange is a full-service crypto-currency exchange that will be launched in 2018. The purpose of the GAT Exchange is to provide a public market where Merchant Tokens can be exchanged for GAT Coins, and GAT Coins can be exchanged for other Merchant Tokens, crypto-currencies and fiat currencies.

What is the GAT Foundation and what is it's role?

The GAT Foundation is an independent non-profit organization that will be established in Singapore. 10% of all GAT Coins will be allocated to the GAT Foundation. The foundation plays two important roles within the GAT System.

 

The first is to act as market-maker on the GAT Exchange. This means there will always be a buyer and a seller of GAT Coins whenever anyone comes to the GAT Exchange to sell or buy GAT Coins. This provides liquidity for the GAT Exchange.

 

The second role of the GAT Foundation is to publish data and news about GAT Coin and its circulation. The goal is to ensure the global market for GAT Coins is transparent and that accurate pricing information is available in the public markets.

Who designed the GAT System?

The GAT System is a true collaborative effort by a group of engineers, business people, and marketing professionals around the world. The Founder and CEO of GAT Systems is Simon Cheong, a blockchain entrepreneur and former World Bank lawyer. Simon is also the inventor of GATCOIN’s patent-pending Targeted A-DropTM technology

 

The GAT System’s high-speed super large ledger technology has been developed by Professor Wei-Tek Tsai, one of the leading blockchain scientists in China.

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