Last updated on October 15th, 2017 at 10:07 am
Coin Fire has learned that the crowd-sale for Gems will begin on November 30.
The Gems and Koinify teams are hosting an AMA session on reddit where users can ask any questions.
The respective teams of both companies have made it clear the sale will begin on November 30 with 100,000,000 GEMS created of which 50% or 50,000,000 GEMS to be sold during the pre-sale. GEMS that remain unsold after the pre-sale will be sent to a verified unspendable address.
The GEMS that are sold on November 30th will not be usable for purchasing advertisements on the platform as that feature will not yet be implemented. Those owning more GEMS though at the launch of the application will generate GEMS at a faster rate than those who do not own them. The more GEMS you own the faster you will generate GEMS.
GEMS will exchange at a rate of 1BTC to 15,000 GEMS at the start of the sale on November 30 and on the last day taking place 31 days later 1BTC will net 10,000 GEMS. Those wishing to buy GEMS will be able to do so with no minimum BTC investment requirement.
GEMS will be immediately open for exchange on Melotic and Bter according to statements made by GEMS.
The Gems iOS application should also become available for download on November 30th.
Those interested in the GEMS crowd-sale can sign up for more information on the Koinify website at:
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