GET Protocol is one of the crypto projects with significant organic market demand; over half a million digital tickets have been sold (for concerts, theater shows, sports events and livestreams) using the protocol since its founding in 2016. You can see some of the artists who use GET here. Over the years thousands of events have been ticketed, without a single ticket being scalped.
Now they are launching their NFT ticketing. Starting with the minting of 120.000 NFTs on BSC, which is taking place at the time of publication.
Manipulation of events’ ticket sales has been an age-long headache for performers, fans, and other entertainment industry stakeholders. Ticket rackets are always on the prowl trying to profit by scalping the ticketing process and hiking the price of tickets without adding any value to the system.
This occurs as unauthorized resellers and middlemen often attempt to create artificial scarcity by buying up a massive stash of tickets. They then raise the prices before selling to desperate fans; some resellers outrightly sell fake/invalid tickets to unsuspecting public members. The result is that there is a lack of transparency and extensive fraud associated with the traditional ticketing system, which shortchanges everyone.
The GET Protocol was developed to make the ticketing process much more transparent and ensure a level playing field for everyone. In turn, GET Protocol applies the transparency of blockchain towards improving the industry.
GET (Guaranteed Entrance Token) Protocol is the brainchild of GUTS Tickets, an Amsterdam-based blockchain company. The protocol built on the Ethereum blockchain is designed to be a smart ticketing solution that will eliminate fraud from the industry and make the process transparent. It ensures that tickets are sold and resold within a fixed price range and that those tickets are originals with no possibility of cloning. It was founded in 2016 and has proven to be a working product with successful implementations already done in Holland by its parent company, GUTS. Since 2020, several international ticketing companies have begun to use the protocol to issue their tickets, specifically in Germany, Italy, and South Korea.
NFT Ticketing
On top of the fully digital ticketing service; GET Protocol has begun to issue their tickets as NFTs. To kick this off, they are minting 120.000 NFTs for all the tickets that are currently sold but not yet used. This minting is taking place at the time of publication, you can follow along here.
Read about GET’s NFTs on BSC in their update blog from last week.
From commercial & partnership lead at Spotify: https://twitter.com/iamjackstephens/status/1363638008059150339?s=20
NFT ticketing is an exciting new use case that adds benefits to organisers and ticket buyers. Visitors of events are able to have collectibles from their favorite artists. Even Mark Cuban is getting into it.
The NFT tickets by GET Protocol poses a lot of possibilities for capturing the value in the primary and secondary market. Read all about the GET NFT approach here.
Over the coming period, the NFT approach on BSC will be evaluated by the GET team for feasibility, technical fit and scaling potential.
GET was created to tackle the ills of traditional ticketing and ensure that anyone who wants to issue admission tickets for an event can do so in an honest way, fair to all. The following features enable it to achieve these objectives
From the moment the first ticket is sold till the last ticket is validated is all facilitated through the blockchain. The protocol doesn’t control the ticketing process including the resale by a ticket holder. This removes middlemen and price manipulators from the process chain.
Every issued ticket has a unique identity locked to it and traceable on the blockchain. This absolutely eliminates the possibility of cloning or faking a ticket.
GET protocol’s program will be open source and available for anyone to execute with a Software Development Kit (SDK) also available to make the implementation easy.
GET attends to every segment of the ticketing value-chain. It makes the ticketing experience stress-free for users, ensuring content-creators that their fans are not subjected to unfair pricing of tickets. On top of this GET provides organizers with an efficient and scalable tool for secure event management. The protocol adopts the following set of principles to achieve this:
The GET Protocol ticketing process is just as easy as what consumers are used to from non-blockchain ticketing experiences. Maybe even easier. It’s a matter of simply creating an account and verifying the phone number of the ticket buyer. The digital ticket is registered to the user’s phone number and device, and is prevented from being duplicated or used for fraud by several innovations, such as a dynamic QR code that changes every 15 seconds.
At the moment the event is about to begin, GET protocol activates the user’s smart ticket and delivers the code needed for the event’s entry to the user’s verified phone.
More explicit information on how GET Protocol works can be found in this documentation.
GET is the native token of the protocol. It is an ERC-20 token utility token that drives the protocol’s transactions and operations of the smart tickets on the Ethereum blockchain. It has a total supply of about 33,368,773, of which about 11,388,257 is in circulation. The GET token is currently trading on Uniswap, Liquid, STEX, Coinone, and IDEX exchanges. Its legal status as a utility token has been reviewed under USA , European, and Singaporean laws.
It is important to note that GET incorporated a deflationary mechanism that uses GET as the fuel of the ecosystem. Meaning tickets that are sold and re-sold will require GET tokens to verify the transactions. Once events are completed the GET collected is burned by the protocol, reducing circulating supply and driving value to long term token holders.
Further metrics about the token can be seen on the website and on market aggregators Coinmarketcap and Coingecko.
Since the inception of the project in 2016, several milestones have been realized. The team hosted a very successful Initial Coin Offering, deployment of the ticketing app to Android and iOS platforms, and use of GET’s smart tickets at events in Holland, Korea, and several countries across Europe.
Further diversification of GET Protocol is expected to take place in 2021. Plans are also at an advanced stage to add decentralized events financing to the GET Protocol. More information on what to expect in 2021 and beyond can be found here and here.
The events management industry has been beset with ticket racketeering and other forms of ticket issuance manipulations. These flaws hamper the industry making the system inefficient for all parties. GET protocol was developed as a novel blockchain solution to deal with fraud issues in the system and making ticketing secure, transparent, and user-friendly. As the world moves more towards the application of blockchain technology to solving human needs, the GET Protocol has successfully implemented its ticketing protocol and is positioned to be a strong player in that field.
For more on GET Protocol, have a look at the project’s media links.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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MDEX is the decentralized exchange (DEX) platform built on Heco, the Huobi exchange blockchain. It is strategically positioned as the optimal choice for Eco-token transactions and the largest DeFi ecosystem with DEX, IMO, and DAO integration.
It is a decentralized exchange based on Automated Market Maker (AMM) technology on the HECO and Binance Smart Chain (BSC) with a tune of over $5 billion in total value locked. They aim to create cross-chain compatibility between leading chains to create a composite DEX ecosystem.
MDEX became the first project to integrate a dual mining mechanisms into its ecosystem. It utilizes a Liquidity and Transaction mining mechanism:
Liquidity Mining: Various liquidity pairs are available on its LP mining platform, including LP and single stakes. Currently, the platform holds one of the largest TVLs on the Heco chain. They offer a wide range of LP tokens available in the Heco ecosystem.
Its APYs are the largest on the Heco chain and quite competitive with other Dexes available in other chains. Users can start accessing the LP mining incentives and APYs by connecting to the pool.
Transaction Mining: MDEX is the first platform to integrate transaction mining which rewards users for transacting on the platform. By trading using the DEX, users get rewarded for all trade actions done on the DEX.
High APY revenue of transaction mining up till 26th Feb 2021 (source: mdex.com)
Decentralized Autonomous Organization (DAO): MDEX runs a DAO structure using its token MDX to achieve governance. MDX holders can propose to initiate a token listing by voting or collateralizing.
Initial Miner Offering (IMO): Similar to the Initial Coin Offering (ICO) on the Ethereum chain and the Initial Dex Offering (IDO) on BSC Dex chains, MDEX will standardize fundraising activities. Fundraising will be facilitated through its IMO platform. The token will help achieve a standard fundraising token based on the HT-IMO, the decentralized fundraising protocol on MDEX.
The platform is active with various incentives mechanism for its numerous LP pools, listings, and pairs. By interacting with its official Medium handle, can stay updated with the new pools, revised reward mechanisms, and new additions and information.
Four days ago, the platform passed its Certik audit, according to the team, “with flying colors.”
The project has a 93/100 score which shows a healthy indication of its codes and its platform features as safe for use.
MDX token distribution
The project is dubbed the “DeFi Golden Shovel” in Chinese cryptocurrency circles. The immediate roadmap plan is on achieving cross-chain interoperability with various chains.
The platform is looking prime to go multichain with the integration of top chains such as BSC and ETH to achieve a multi-chain era in DEX. According to its released Medium post:
“MDEX will gradually support ETH (layer 2 network), BSC, OKExChain, DOT, NEAR, and other public chains so that assets are inter-connected. In this way, we seek to build a pan-eco transaction protocol.”
On January 6, the project went online.
On January 19, liquidity mining & trading mining were open; the liquidity of the day reached US$275 million; and the transaction volume amounted to US$521 million.
On January 24 (18 days after its launch), the single-day transaction volume exceeded US$1 billion.
On February 1 (26 days after its launch), the liquidity exceeded US$ 1 billion.
On February 3, the Boardroom (Board of Directors) mechanism was launched, and the MDEX ecological fund, worth $15 million USD in MDEX was established.
On February 19, the single-day transaction volume exceeded US$2 billion.
On February 25th, MDEX ranked first in the CoinMarketCap global DEX rankings. It accounted for 53.48% of global DEX trading volume. The daily transaction volume reached a whopping $5 billion USD.
March 10 marked 51 days of MDEX being live. The cumulative transaction volume exceeded $100 billion USD.
On March 12, the total amount of repurchased and burnt MDX exceeded 10 million.
On March 16, MDEX Version 2.0 was released.
On March 18, the 24-hour transaction volume exceeded US$2.2 billion.TVL exceeded US$2.3 billion which builds a new record.
On March 19, in total 143 million MDX are distributed in the form of transaction mining subsidies + liquidity mining rewards, worth US$577 million.
The transaction fees over the first two months were over US$340 million. The platform's 7-day transaction fees rank 3rd, only after Bitcoin and Ethereum.
On Apr 8, Mdex launched on BSC, supporting single currency mining, liquidity mining, trading mining and asset cross-chain.
Within two hours of launch on Binance Smart Chain, the TVL of MDEX exceeded $1.5 billion. The total transaction volume exceeded $268 Million and the TVL on HECO and BSC is now over 5 billion.
The high transaction fees on the Ethereum saw a slice in ETH dominance. Many users in the DeFi sector have gravitated to other blockchain infrastructures like Huobi and Binance Smart Chain.
MDEX integration of other chains like ETH and BSC in the future will make it a multichain DEX service. It will offer unique features like transaction mining and an increase in TVL. Due to the user incentive mechanism of transaction mining and repurchase rewards, MDEX currently has relatively low transaction costs, and users benefit from transactions. Overall, MDEX presents low fees, incentives for transactions, low slippage, and ever-increasing LP pairs will make the platform attractive to users and maintain its dominance as the leading DEX in the ecosystem.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
For those who wish to learn more about MDEX, check out the following resources and media pages:
Lola (AMA HOST): Can the team member of HOLDEFI say hi?
Cengiz: Hi everybody, Glad to be here. I'm from Holdefi project and ready to answer your questions.
Feel free to ask anything about Holdefi ☺️
Lola (AMA HOST): You're welcome Cengiz. Glad to have you with us today.
Hope you're good.
Cengiz:Thanks
Me too😉😊
Lola (AMA HOST): Good👍
Let's move on to the questions.
At the 2nd half, the Community would be dropping their questions and you can pick any 3 questions of your choice.
Shall we start now
Cengiz: OK lets start.
Q1. Can we get to know more about you and your team? What are your roles and past experiences?
Cengiz:We are a +30 person company based in Turkey and have more than four years of experience in the cryptocurrency and blockchain world. We had a lot of success in the local sector, and today we are looking to implement our first global project.
Lola (AMA HOST): Great. What a team! More than team. And How have been your experience with them?
What's your role?
Cengiz: I am content leader of this lovely team.
We have Blockchain Development team, Web development, Marketing, R&D, Content, Graphic Design and management.
Lola (AMA HOST): Ohh. Great.
Q2. A lot of Projects are either on BSC or ETH. Rare to see Multichain Projects. Why did you choose to be on both? Is there anything behind this great move?
Cengiz: We have developed Holdefi on ethereum blockchain from the start. But today it is not hidden to anyone that BSC growth was really amazing and has its own community and fans. So we have decided to launch Holdefi protocol and token also on BSC besides ethereum.
Lola (AMA HOST): That's really good
Q3. Holdefi is an Opensource non-custodial money market protocol that allows users to be depositors or borrower. How can users participate?
Cengiz: Depositors provide liquidity to the market to earn a passive income, and everyone can borrow from this liquidity and repay it after a while. The Borrower must add collateral before borrowing any tokens. The value of the collateral should be greater than the value of the assets they want to borrow. This collateral is, in fact, a guarantee that they will repay the borrowed assets.
Lola(AMA HOST): Okay. Aside from the Collateral, will there be any interest?
Cengiz: No.
Collatoral is only a guarantee for repaying the borrowed assets.
Lola (AMA HOST): Okay. Thanks 😊
Q4. What offer do you have for HLD token holders?
Cengiz: HLD has many use cases include but are not limited to: Protocol governance, Burning, Liquidity mining, staking, Revenue sharing.
I will also share some links at last for reading more about the details.
Lola (AMA HOST): Okay. That would be nice.
Q5. Is there any requirements to join in the HLD IDO? And what should participants expect?
Cengiz: Our IDO has been finished. Now HLD is being traded on PancakeSwap and UniSwap. HLD also being added to centralized exchanges in the near future.
Lola (AMA HOST): All right. Thanks for the Update.
Q6. Can you also tell the Community about the revenue sharing and Liquidity mining?
Cengiz: Liquidity mining in summary means when people provide liquidity to Holdefi protocol they can earn/mine HLD token.
Revenue sharing also means Holdefi protocol revenue from the fees will be shared with the token holders.
Q7. What's the Future plans of this HOLDEFI?
Cengiz: Staking, competitions, Holdefi-V2, and many many plans are coming. We have a whole long-term plan that I do not want to spoil now😉, but our path is very long and certainly, those who joined us from the beginning could be very lucky.
Lola (AMA HOST): Wow! That's quite impressive. Then we are ready to journey with you to the Future. ☺️
Q8. Can you explain to the community about HLD pools?
Cengiz: If you mean HLD pools on UniSwap and PancakeSwap, Liquidity provided tokens by the team are going to be locked for years.
Lola (AMA HOST): Can you give exact period? Like for how many years?
Cengiz: We did not make final decision yet but I think at least 4 years. Maybe we will do that with the third party like TrustSwap. We will announce to the community when we made it.
Q9. Can you tell the Community what makes your Project different from others?
Cengiz: I can mention some of them here.
At Holdefi we have a feature called Promotion that we can do it on different markets which is Increase interest rates.
This feature helps us to increase the liquidity of our pools quickly and grow fast.
or on the otherside, we can decrease the borrow rate for borrowers to attract them to the platform
We seperate the market and collateral pools so that users can withdraw their money at any time. it is what other platforms do not have right now!
This pic also can describe promotion feature better.
Again community can find more details in our documents. I will share the links in the end of our conversation.
Lola (AMA HOST): All right.
Q10. Do share with us all the links that the readers can find out more and also follow the development of the project.
Cengiz: Holdefi website:
Lola (AMA HOST): Thanks Cengiz.
Can we also have the roadmap or is there a lite paper link we can check through too?
Cengiz:Yes you can find our whitepaper and other details at https://docs.holdefi.com/
Lola (AMA HOST): Okay. That's great.
Q11. Lastly, our favourite question in BSC News, do you have any alpha or juicy news that you can share with us today?
Cengiz:
We are in the last phases of Holdefi codes audit and tests, So Holdefi mainnet will be launched at the end of April early May.😊
Lola (AMA HOST): Great. Can't wait for it!
Cengiz: 🙈
Lola (AMA HOST): Thanks for this wonderful AMA, short and Precised. 😊
Cengiz: Thank you for inviting me here for this AMA.
Blockchain ticketing project GET Protocol is minting 120.000 NFT tickets on Binance Smart Chain as they begin their NFT ticketing approach. An exciting new use case for both the NFT world and BSC.
GET Protocol is one of the crypto projects with significant organic market demand; over half a million digital tickets have been sold (for concerts, theater shows, sports events and livestreams) using the protocol since its founding in 2016. You can see some of the artists who use GET here. Over the years thousands of events have been ticketed, without a single ticket being scalped.
Now they are launching their NFT ticketing. Starting with the minting of 120.000 NFTs on BSC, which is taking place at the time of publication.
Manipulation of events’ ticket sales has been an age-long headache for performers, fans, and other entertainment industry stakeholders. Ticket rackets are always on the prowl trying to profit by scalping the ticketing process and hiking the price of tickets without adding any value to the system.
This occurs as unauthorized resellers and middlemen often attempt to create artificial scarcity by buying up a massive stash of tickets. They then raise the prices before selling to desperate fans; some resellers outrightly sell fake/invalid tickets to unsuspecting public members. The result is that there is a lack of transparency and extensive fraud associated with the traditional ticketing system, which shortchanges everyone.
The GET Protocol was developed to make the ticketing process much more transparent and ensure a level playing field for everyone. In turn, GET Protocol applies the transparency of blockchain towards improving the industry.
GET (Guaranteed Entrance Token) Protocol is the brainchild of GUTS Tickets, an Amsterdam-based blockchain company. The protocol built on the Ethereum blockchain is designed to be a smart ticketing solution that will eliminate fraud from the industry and make the process transparent. It ensures that tickets are sold and resold within a fixed price range and that those tickets are originals with no possibility of cloning. It was founded in 2016 and has proven to be a working product with successful implementations already done in Holland by its parent company, GUTS. Since 2020, several international ticketing companies have begun to use the protocol to issue their tickets, specifically in Germany, Italy, and South Korea.
NFT Ticketing
On top of the fully digital ticketing service; GET Protocol has begun to issue their tickets as NFTs. To kick this off, they are minting 120.000 NFTs for all the tickets that are currently sold but not yet used. This minting is taking place at the time of publication, you can follow along here.
Read about GET’s NFTs on BSC in their update blog from last week.
From commercial & partnership lead at Spotify: https://twitter.com/iamjackstephens/status/1363638008059150339?s=20
NFT ticketing is an exciting new use case that adds benefits to organisers and ticket buyers. Visitors of events are able to have collectibles from their favorite artists. Even Mark Cuban is getting into it.
The NFT tickets by GET Protocol poses a lot of possibilities for capturing the value in the primary and secondary market. Read all about the GET NFT approach here.
Over the coming period, the NFT approach on BSC will be evaluated by the GET team for feasibility, technical fit and scaling potential.
GET was created to tackle the ills of traditional ticketing and ensure that anyone who wants to issue admission tickets for an event can do so in an honest way, fair to all. The following features enable it to achieve these objectives
From the moment the first ticket is sold till the last ticket is validated is all facilitated through the blockchain. The protocol doesn’t control the ticketing process including the resale by a ticket holder. This removes middlemen and price manipulators from the process chain.
Every issued ticket has a unique identity locked to it and traceable on the blockchain. This absolutely eliminates the possibility of cloning or faking a ticket.
GET protocol’s program will be open source and available for anyone to execute with a Software Development Kit (SDK) also available to make the implementation easy.
GET attends to every segment of the ticketing value-chain. It makes the ticketing experience stress-free for users, ensuring content-creators that their fans are not subjected to unfair pricing of tickets. On top of this GET provides organizers with an efficient and scalable tool for secure event management. The protocol adopts the following set of principles to achieve this:
The GET Protocol ticketing process is just as easy as what consumers are used to from non-blockchain ticketing experiences. Maybe even easier. It’s a matter of simply creating an account and verifying the phone number of the ticket buyer. The digital ticket is registered to the user’s phone number and device, and is prevented from being duplicated or used for fraud by several innovations, such as a dynamic QR code that changes every 15 seconds.
At the moment the event is about to begin, GET protocol activates the user’s smart ticket and delivers the code needed for the event’s entry to the user’s verified phone.
More explicit information on how GET Protocol works can be found in this documentation.
GET is the native token of the protocol. It is an ERC-20 token utility token that drives the protocol’s transactions and operations of the smart tickets on the Ethereum blockchain. It has a total supply of about 33,368,773, of which about 11,388,257 is in circulation. The GET token is currently trading on Uniswap, Liquid, STEX, Coinone, and IDEX exchanges. Its legal status as a utility token has been reviewed under USA , European, and Singaporean laws.
It is important to note that GET incorporated a deflationary mechanism that uses GET as the fuel of the ecosystem. Meaning tickets that are sold and re-sold will require GET tokens to verify the transactions. Once events are completed the GET collected is burned by the protocol, reducing circulating supply and driving value to long term token holders.
Further metrics about the token can be seen on the website and on market aggregators Coinmarketcap and Coingecko.
Since the inception of the project in 2016, several milestones have been realized. The team hosted a very successful Initial Coin Offering, deployment of the ticketing app to Android and iOS platforms, and use of GET’s smart tickets at events in Holland, Korea, and several countries across Europe.
Further diversification of GET Protocol is expected to take place in 2021. Plans are also at an advanced stage to add decentralized events financing to the GET Protocol. More information on what to expect in 2021 and beyond can be found here and here.
The events management industry has been beset with ticket racketeering and other forms of ticket issuance manipulations. These flaws hamper the industry making the system inefficient for all parties. GET protocol was developed as a novel blockchain solution to deal with fraud issues in the system and making ticketing secure, transparent, and user-friendly. As the world moves more towards the application of blockchain technology to solving human needs, the GET Protocol has successfully implemented its ticketing protocol and is positioned to be a strong player in that field.
For more on GET Protocol, have a look at the project’s media links.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
