There will only ever be 1 Billion GRPH tokens minted, but because we have various BURN events, the total circulating supply will be less than this.
Let's break it down...
Deployment of the GRPH smart contract has already taken place. You can see that here:
Step 1: Minting of Team Allocation
100,000 GRPH tokens were minted when the GRPH contract was deployed and those tokens have been moved into a new wallet. You can see that wallet here:
Step 2: Zil deposit into Team Wallet
In preparation of starting the pool for GRPH on Zilswap, we need to have enough ZIL to be able to start the pool with 50,000 GRPH at a target price of $1. We will use zUSDT to determine the price just prior to starting the pool.
At time of writing, 1 zUSDT = 13.9341 ZIL, so we would need ~700,000 ZIL
Step 3: Start pool on ZilSwap
The ZilSwap pool will be started once the Team Wallet has received enough Zil to be able to launch the pool with 50,000 GRPH at a target price of $1.
The reason for launching on ZilSwap is so that GRPH can be sold to the market as an alternative method of fundraising instead of running a pre-sale or ZILO.
Step 4: Remove half the liquidity from ZilSwap
When the price of GRPH has reached a minimum of $2.40 in value, then we will remove half the liquidity so that the gained ZIL can be used to purchase 10,000 zUSDT.
THAT MEANS YOU REALLY SHOULD NOT BUY $GRPH FOR ANYMORE THAN $2.50 UNTIL WE LAUNCH $GRPH ON CARBSWAP.
Step 5: Launch CarbSwap Genesis Pools
We are getting close now, through ZilSwap the team has been able to raise enough ZIL to be able to fund the initial liquidity of our 3 genesis pools.
The 3 Genesis Pools are:
- ZIL / CARB
Will be started with 250,000 ZIL
- GRPH / CARB
Will be started with 50,000 GRPH @ target price of $2.50
- zUSDT / CARB
Will be started with 10,000 zUSDT
Step 6: Launch CarbSwap
The moment we have all been waiting for. Opening up CarbSwap to the world and introducing another DEX to the Zilliqa blockchain.
Let the fun begin...
Questions? We will be publishing a new blog post soon that hopefully should answer any questions you may have. In the meantime please reach out to us to ask.