April 20, 2021
GCAC is excited to engage Abbey Technology to launch a digital marketing campaign aimed at the one million decentralized finance user community ‘DeFi’. This multi-year DeFi marketing campaign aims to raise awareness in our company’s Citizen Green product ‘QR codes’ by launching a Uniswap token on the Ethereum blockchain with our name, logo and website visible to the Uniswap community. Our GCAC token can be found at https://v2.info.uniswap.org/pair/0xf22645743415d8c06d78c8a4f0ea214041b4544f
Going forward, using our marketing budget, we will spend 1% of our quarterly sales revenue purchasing GCAC tokens exclusively on Uniswap every three months. Our actual sales figures are released quarterly as part of our formal public-company filings on SEDAR.
The Abbey Technology GCAC marketing token implementation has the following bespoke attributes:
- GCAC is a standard Ethereum ERC-20 token that was created with 200,000 tokens, and no more can ever be created.
- 5 Ether, the Ethereum cryptocurrency, and 100,000 GCAC tokens were added to a new Uniswap liquidity pool. Swapping Ether on Uniswap returns GCAC marketing tokens to Uniswap community participants. Similarly, swapping GCAC marketing tokens on Uniswap returns Ether to token holders.
- Every three months the company will swap currency on Uniswap to buy GCAC tokens with precisely 1% of the value of the previous quarters sales revenue, as publicly disclosed on SEDAR.
- The initial Abbey Technology Uniswap liquidity pool tokens are time-locked inside the Uniswap ERC-20 smart contract. Abbey Technology is required to publish its ‘intent to withdraw’ liquidity from Uniswap at a given date in the future.
- Any tokens purchased by the company as treasury-tokens are time-locked inside the ERC-20 smart contract. The contract requires the company’s treasury-wallet to publish its ‘intent to swap’ any of its GCAC marketing tokens on Uniswap for Ether at a given date in the future.
The source code and an independent smart contract code-audit for the Abbey Technology GCAC marketing token implementation can be found here.
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.