✨Glitter Finance FAQs & Discussions✨ Glitter Finance常见问题&讨论 [Sook Jin GOH]

in hive-155234 •  2 months ago 

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✨ About Glitter Finance || 關於 Glitter Finance ✨

The vision of Glitter Finance is to increase capital efficiency between cross-chain bridges, by re-deploying synthetic assets created by the Glitter cross-chain bridge, into yield pools integrated into the Glitter Finance Platform.
✨ 🪙🔗🌉🔗🪙 ✨
A cross-chain bridge bridging multiple L1 ecosystems including Algorand, Solana, Terra, Polygon and Cudos.
📈🤖⚙️📈
Incorporating AI and machine learning in the Glitter Finance Platform will create an algorithmic trading platform, which will help novice traders.


🌱 Please follow our social media and channels 請在各大社媒頻道上關注我們:

Telegram: https://t.me/GlitterFinanceCN (中) https://t.me/joinchat/bn0aKLM-OSY0NTMx (EN)
Twitter: http://twitter.com/GlitterFinanceC (中) http://twitter.com/GlitterFinance (EN)
Official Page:http://glitterfinance.org
Facebook: https://facebook.com/GlitterFinance
LinkedIn: https://www.linkedin.com/company/glitter-finance
Instagram: https://t.co/YLOwrZphlu?amp=1


🪙Glitter Finance $XGLI Token 代幣🪙

Total Supply總量: 500,000,000 (375,000,000 @ Solana + 125,000,000 @ Algorand)

Token Standard代幣標準:
Algorand Standard Assets (ASA), ID: 607591690
Solana Program Library (SPL)

Real-time Data 實時數據: CoinMarketCap, CoinGecko,
CEX: Bibox,
DEX: Tinyman,

Token Utilities & Value Proposition
代幣用途与價值主張


FAQs

Contract?

Contract Address

XGLI (Algorand): https://algoexplorer.io/asset/607591690

XGLI (Solana): https://solscan.io/token/FsPncBfeDV3Uv9g6yyx1NnKidvUeCaAiT2NtBAPy17xg

xSOL (Algorand): https://algoexplorer.io/asset/792313023

xALGO (Solana): https://solscan.io/token/xALGoH1zUfRmpCriy94qbfoMXHtK6NDnMKzT4Xdvgms

Tinyman algo
https://app.tinyman.org/#/swap?asset_in=0&asset_out=607591690

https://tinychart.org/asset/607591690

CoinMarketCap: https://coinmarketcap.com/currencies/glitter-finance/


Where to Trade $XGLI

You can trade XGLI at:

CEXs

Bibox (Support Algorand and Solana chains) @BiboxExchangeEnglish: https://www.bibox.com/en/exchange/basic/XGLI_USDT

Bitrue @BitrueOfficial: https://www.bitrue.com/trade/xgli_usdt

Algorand DEXs

Tinyman @tinymanofficial: https://tinychart.org/asset/607591690

Solana DEXs

@CropperFinance: https://cropper.finance/swap


Staking Pools?

  • Live
PlatformStakeEarnNote
Cometa HubxSOLXGLI + ALGO
Humble DeFixSOLXGLI + ALGO
BitrueXGLIXGLI
AlgoStakeXGLIXGLI
YieldlyYLDYXGLI
  • Expired
PlatformStakeEarnNote
Cropper FinanceXGLIXGLIExpired on 8/8/2022
BitrueBTRXGLISold Out
BiboxXGLIXGLI

Farming Pools

  • Live
PlatformStakeEarnNote
Cropper FinanceXGLI/SOL LP (Cropper Finance)XGLI
AlgoStakeXGLI/ALGO LP (Tinyman)XGLI
YieldlyXGLI/YLDY LPXGLI
  • Expired

XGLI Chart

Sites that provide charts for $XGLI :

CoinMarketCap: https://coinmarketcap.com/currencies/glitter-finance/

CoinGecko: https://www.coingecko.com/en/coins/glitter-finance

Bibox: https://www.bibox.com/en/exchange/basic/XGLI_USDT

Tinyman: https://tinychart.org/asset/607591690


More CEX Listing

https://t.me/GlitterFinanceGlobal/92192

Until we put a baseline of stability into this, we will not move forward with any further CEX listings


Why was the name changed from Glitter Finance to Glitter?

The CEO has decided to move away from the Finance label:

  1. everyone calls themselves finance in DeFi, and so it's banal
  2. "finance" is not a convenient term in terms of regulators, bc we do not want to give an impression of competing with banks
  3. we are an ecosystem not just one protocol

so Glitter makes more sense

https://t.me/GlitterFinanceGlobal/107667


How much in the treasury have we got and funding please ??

we haven't touched much of what's in the treasury

as far as runway from investment, I would say (in general terms as this is company information and is internal), that we have enough runway to ride out the bear market and launch mainnet, and bring solana distribution tool also to mainnet and in general launch quite a few products just based on the old raise

I will also underline, that my current calculations do not factor in using the token treasury or even revenue

so assuming there is no revenue and we never touch the token, we will still ride out the bear market

as it is - the team is both lean and highly functional, we do not have the kind of burn rate per month as one would expect from a company our size

https://t.me/GlitterFinanceGlobal/107612


Why create a new blockchain for Glitter?

At first, it fully decentralises the bridge, solves fully centralization issue

Second, bc it allows us to develop an ecosystem that follows our vision

Thirdly, it allows us to build a cross chain liquidity hub, with the aim of automation of defi trading and streamlining it to normal (not crypto based) end users

The blockchain holds the liquidity and pumps it into an easy to use app, Therefore creating a product which non crypto users can easily use

This was always the goal of Glitter

Actually one of the big reasons why xgli is gonna be very valuable is the blockchain

Bc having the blockchain allows us to create deeper utility

https://t.me/GlitterFinanceGlobal/107637


What is Glitter's Layer 1 blockchain based on?

COSMOS.

COSMOS allows for high level interoperability with a finished framework for layer 1 creation

https://t.me/GlitterFinanceGlobal/107650

Polkadot has both parachains and parathreads but would put us in a position where we have to expend and raise a lot of capital just to guarantee a slot for 2 years and have to do that all over again 2 years later. It's a great ecosystem but not fit for purpose. Capital is better deployed building and incentivizing!

https://t.me/GlitterFinanceGlobal/107654


Add Liquidity

We added liquidity - and then people dumped

If people dump, and don't care about the token and the community, that is not the fault of the team

We can add liquidity from now to kingdom come

If people just want to sell, and don't actually care about the project, then nothing will help the token

Right now the token is very vulnerable because our technology is not out yet

https://t.me/GlitterFinanceGlobal/91542


Raydium

Current plan is to add liquidity to Raydium after the Algorand ↔ Solana Bridge is out on Mainnet. Nevertheless, please wait for official announcement to confirm :)


Regarding listing on KuCoin and Huobi

https://t.me/GlitterTradersUnofficial/2052

I sent this information out before any deal was finalized and due diligence was finished. I will not go into details here what happened, but I will say that, that is my fault, and I should have made it very clear we would not be listing on these exchanges.


Has $XGLI been verified?

Yes it has been verified by AlgoExplorer and Solscan.


Are Clawback and Freeze functions enabled for $XGLI?

No, Clawback and Freeze functions have been disabled for $XGLI.


Why has the supply of XGLI tokens increased to 500M?

The tokenomics were updated in line with our advisor's suggestions, to reflect the increased value of the project, and allow us to fully build the product. Tokenomics were changed to reflect the changed scope of the project.


Claim $XGLI

Claim portal has been disabled and future XGLI vesting tokens will be airdropped to IDO investors on 22nd every month unless we notify otherwise.

To claim 1st and/or 2nd vesting, please DM any of the moderators with the following information:

  1. your wallet address
  2. VC/Institution you invested with
  3. which vesting (1st and/or 2nd) do you wish to claim

Disclaimer, Terms and Conditions, Privacy Policy

https://t.me/GlitterFinanceGlobal/107335




Community Discussions 社区讨論

Reddit:
When the Glitter Finance "Algo - Solana" bridge goes live, expect alot of Sol holders to move to Algorand
The community persuaded Glitter Finance to remove freeze and clawback from their XGLI token! Sometimes it does pay to get involved and voice concerns in a constructive way

Facebook Post: https://www.facebook.com/groups/Algorand/permalink/1037908550151136/

On Utilities of XGLI

The point of the XGLI is that it's an easy and convenient way to bridge from solana to algorand

it casts aside the fears users may have about using a wrapped token bridge

it's a good way to bridge between two ecosystems and then eventually, a streamlined way to take the money out in cash

anyone can benefit from using this because:

  1. It's cheap
  2. It's easy
  3. It involves 0 risk that a wrapped token bridge gives
  4. you can get rewards from the bridge tokens and from Rainbow

all in all - it's a very nice bridge in its own right

https://t.me/GlitterFinanceGlobal/109313

Sure and trying to balance that is a struggle for us as well. It's something we consider and discuss daily!

You have to take into account that the largest holder of XGLI is Glitter. It's price movement dictates our available liquidity, budgets, rewards, etc. Even for the team on an individual level, our prosperity depends on the long term success of the XGLI token.

Some of the measures we implement may not be quick enough, but we also have to take into account the limited resources we have to achieve our goals and our order of priorities.

The XGLI token features are definitely at the forefront of our thinking but we are rolling them out one by one in conjunction with other limiting factors such as development/budget/etc.

You are correct that if we achieve our long term goals it will skyrocket and I appreciate that the short term is also important. As a company if we do not have the confidence that we will achieve what we set out to do we may as well pack it in now! Lol. In the midst of shooting for the stars, we will implement short term features to help bolster our position, but there are sooooo many factors to take into account and keep balanced (plate spinner analogy comes to mind).

In short, long term success of the token is our overarching goal. We don't ignore the short term outlook, but try to do what we can within reason, as many other factors come into play


  • But say you have value in Algorand, it will initially be in Algo or another token. If you wanted to to cash out that value then why take it across to another chain?

https://t.me/GlitterFinanceGlobal/109225

because you want to make money

a lot will depend on the type of incentives we set up

but the things you can now do on algo are pretty different on sol

I expect there would be much more demand to bridge from sol then from algo

but the simple answer is:
the Algo ecosystem has a liquidity problem,the solana ecosystem does not

so if you bridge from sol, you get that liquidity into the algo ecosystem and you solve the problem

On the other hand, algo has more investment options than sol

so when you combine these two chains, you get to leverage the strengths of both

but what the xgli gives is an easy, very safe, and very cheap way (compared to the price of sol) to get funds accross, not to mention the fact that the swap fee is less expensive, and we give a exposure to a part of it


Why no discount for bridging using XGLI?

David | Glitter Finance - Will not dm for funds:

The other thing is - if you use xgli as a basis for paying bridge fees, or you give a discount, or you give holders of xgli a kickback from the bridge fee, you weaken the bridge service

so it doesn't make any sense to do it

I'd rather have two strong products that are connected rather than have two weakened products of dubious utility

for example - it's not logical to expect people to buy xgli en masse, just to bridge

it's not really logical to give discounts to hodlers - bc you then cheapen the bridge

discounts in business are always a terrible idea no matter how attractive they may seem

bc only failing businesses discount themselves

on the other hand, bribing the community who hold xgli to use the bridge makes no sense

why would we pay people twice?

we are already giving people access to xsol - and sol is one of the strongest crypto tokens historically

so why would we pay people twice for something that's already super useful to them?

on the other hand - there is a clear usecase for xgli

many startups now are creating 'bridges' that basically use their own tokens

this is what we did...and by doing so we give and alternative, and strengthen our position, as having a suite of cross-chain products


Stake YLDY Earn XGLI

As promised, I looked through the yieldly telegram group for any discussion of Glitter, and people are indeed generally very positive about it there, and pleased to be able to stake their YLDY to get it. Overall they seem to view it as a quality project (rightfully of course!), perhaps even the best yieldly has had.

This suggests to me that good awareness and positivity has come from the Yieldly deal. But it doesn't mean I think the deal should be renewed when the pools end in 30 days. Cos ultimately I think the good has come already, and renewal would just be giving more free tokens to yieldly holders for little additional benefit to Glitter.

My opinion (for what it's worth!) might change if yieldly pulled in a lot of new holders (meaning greater additional exposure) or proposed a deal that would directly require more XGLI buying rather than the current deal of yieldly holders receiving it for free (which naturally they are pleased about and would love to see extended).

All in all the feeling about Glitter in the Algorand community seems to be way more positive than it once was (when there was all the FUD going around after the launch months ago). I'm talking in general now, not just about in yieldly circles, though the yieldly deal may have helped this a lot. When the bridge launches I'm confident it will be received with great enthusiasm 😊

https://t.me/GlitterFinanceGlobal/107854

Told you the Yieldly community loved Glitter. 😎😁

I swapped a bunch of Yieldly so that I was 50/50 for the LP, and now that I'm swapping by Yieldly rewards back to Glitter, XGLI is now a bigger bag than Yieldly!

Super excited for the bridge. Solana is a great ecosystem to connect with. However, I'm way more excited about the bridge to Cosmos. Algorand and Cosmos are the two ecosystems I research and am most heavily invested in, so that connection is going to be epic!

https://t.me/GlitterFinanceGlobal/107881

I disagree. I’m a large Yieldly holder who has staked for Glitter since day 1 and haven’t sold. In fact, I actually bought more Glitter after close examination of team and use. I am plugged into the Yieldly community and many people who are staking Yieldly for Glitter haven’t sold and have every intention of holding.

https://t.me/GlitterFinanceGlobal/108061

That is good to hear. The Yieldly stakers who hold their XGLI rewards are better for XGLI investors than those who dump them, but it's the ones who actually take the extra step of buying more XGLI who are the real success story, and the primary point of the whole arrangement I believe. I suspect that they are the minority but it is awesome that you are one of them 😊

It would be great to see an analysis that worked out real numbers. The chart of token price since the Yieldly pool started shows a pattern - and it's not positive - but there are other factors that affect that of course - I can't say with confidence that yieldly stakers have, en masse, caused that. Also I appreciate that there are benefits to increasing the number of XGLI holders and raising awareness of the project in general - it's not all about directly stimulating buying. However, when the pool ends in 26 days, I can't see how doing it all again for the benefit of the same yieldly holders really helps XGLI further.

It's not my decision though, obviously, I am just volunteering my unasked-for opinion. Since I've made the same point a few times now I think I'd better stop talking about it 😄 But thank you for responding - I appreciate the discussion and hearing from another YLDY staker who has not just held their XGLI rewards but also bought more.

https://t.me/GlitterFinanceGlobal/108093


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glitterfinance,xgli,bibox,gohsookjin,bitrue,tinyman,algorand,solana,cropperfinance,algostake,yieldly,cometahub,


発佈人

Sook Jin GOH,
Community Manager 社群經理 @ Glitter.Finance ,
Regional Ambassador for Malaysia 馬來西亞區域大使 @ Nutbox.io ,
CEO @ Nanyang Global Scientific Research Centre 南洋國際科研中心
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