May 13, 2021
GCAC is excited to engage Abbey Technology to expand its digital marketing campaign aimed at the decentralized finance user community ‘DeFi’ using Binance’s Pancakeswap. This multi-year DeFi marketing campaign aims to raise awareness in our company’s Citizen Green product ‘QR codes’ by launching a Pancakeswap token on the Binance Smart Chain blockchain with our name, logo and website visible to the Pancakeswap community. Our GCAC token can be found here on Pancakeswap.
A users GCAC tokens on Ethereum can be sent to the Binance Smart Chain by simply transfering the tokens exclusively to this Abbey ‘pancake-flip’ address on Ethereum 0x2ec7d593763eed26defa231b4c566252e2667a6b.
Then, the Abbey-bridge server detects the incoming tokens on their ‘pancake-flip’ address, noting the senders wallet address, and then automatically mints new tokens on the Binance Smart Chain GCAC Smart Contract
The newly minted Binance Smart Chain GCAC tokens are then transferred to the same address that previously sent the tokens on the Ethereum blockchain. A simple ‘flip’, using the same user-wallet address on both blockchains.
GUARANTEED TOKEN BUYING
As per our Uniswap announcement, the company will use our marketing budget to buy GCAC on Uniswap with at least 1% of our quarterly sales revenue every three months. Our actual sales figures are released quarterly as part of our formal public-company filings on SEDAR.
When tokens are purchased on Uniswap, the automated market maker protocol increases the per token price based on the buying-demand. Over on Pancakeswap, GCAC tokens would now have a lower price than on Uniswap, making for a simple arbitrage trade to buy-low on Pancakeswap and sell-high on Uniswap.
Of course, should the price of GCAC tokens on Pancakeswap exceed that on Uniswap, then the reverse trade would occur, buy-low on Uniswap and sell-high on Pancakeswap.
Bridged, or pegged, tokens are the typical way that inter-blockchain arbitrage is realised.
As of today, Abbey Technology has not announced an intent-to-withdraw any of its Uniswap liquidity.
As of today, the company has not announced an intent-to-swap any treasury-tokens on Uniswap.