Golix, the Pan African cryptocurrencies exchange has launched a US$32 million token sale and introduced the world to the Golix Token (GLX Token). This is the cryptocurrency startup’s effort to extend its services to a host of African countries which are faced with several challenges in payments and cross-border value transfer.
The announcement made regarding the sale summed up the company’s ambitions which it has already shared in the past. Golix wants to provide financial autonomy to Africa and it is betting heavily on the decentralised, low-cost nature of cryptocurrency to do this.
So far Golix has been primarily doing this through operations in Zimbabwe and its work there has created another avenue for remittances and international payments and acted as a solution to some of the pressing currency challenges faced by Zimbabwe.
These headaches aren’t unique to Zimbabwe and the best way for Golix to address them is to have its feet planted firmly in those other countries where it can use its skills, knowledge and experience in cryptocurrencies for emerging Africa. To do this requires an injection of resources, something that the token sale is supposed to answer.
What is a token sale and what’s this GLX token?
A token sale is an avenue for raising capital that is used in projects linked to cryptocurrency. Individuals and entities contribute towards these projects by buying newly created tokens, most commonly using existing cryptocurrencies like Bitcoin and Ether but also through traditional currencies like the US dollar.
The Golix token sale which will run for 54 days (from 1 June to 25 July 2018) will involve the sale of the GLX token. A token is a digital asset created on the internet that represents a unit of value. It can be used for functions like completing a transaction online or transferring value between people or entities in any place. It also stands as its own type of cryptocurrency which is tradeable using other digital currencies and fiat (traditional) currencies.
The GLX token which has been generated for the Golix token sale is a utility token which can be used to access a specific service. In this case, it will be used for trading on any of Golix’s exchanges across Africa. In terms of technical specifications, it is a standard ERC20 token based on the Ethereum blockchain.
How to buy the GLX token, take part in the Golix token sale
People can take part in the sale by visiting the Golix token sale page tokensale.golix.com registering an account and going through the verification process. The GLX token, priced at US$0.0561can be bought using any one of 3 specific cryptocurrencies – Bitcoin (BTC), Ethereum (ETH) and Stellar (XLM).
The sale is open to anyone aged 18 years old and over who can meet the simple registration requirements. Holders will benefit from complete discounts on trades conducted on any Golix exchange, the ability to use the GLX token to buy cryptocurrencies on any of the Golix exchanges and the option to co-invest in any African cryptocurrency projects that Golix will be involved in.
For more information on the Golix token sale and the GLX token visit the links below:
Token Sale Whitepaper: https://res.cloudinary.com/golix/image/upload/v1526140639/GLX_Tokensale_Whitepaper.pdf
Website: https://tokensale.golix.com
Telegram: https://t.me/GolixCommunity
Twitter: https://twitter.com/GolixDotCom
Facebook: https://www.facebook.com/GolixDotCom/
What are your thoughts about the Golix token sale and its plans to extend cryptocurrencies to the entire African continent? Are you going to get your hands on the GLX token? Please share your thoughts in the comments below.
(This article first appeared on blog.golix.com )