Everything you need to know about the GELT Token

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Everything you need to know about the GELT Token

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Image source: Galileo Exchange

Highlights

  • The GELT token contains the technology unique to Galileo Exchange – a hybrid of a crypto exchange, a blockchain project and the innovation of accelerated price dynamics.
  • One of the prominent features of GELT is the introduction of the world’s first Dynamically Connected Indexes (DTI).
  • GELT is built on the Binance Smart Chain (BSC) and pegged to Binance Coin (BNB), which means GELT will mimic the same price action as that of BNB. 

Every week, new crypto tokens are being added to the crypto market. There are already over 17,000 cryptos listed on CoinMarketCap, all offering different use cases and features.

One token, which is the native token of gamified crypto exchange, Galileo, is the GELT token.

The GELT token contains technology unique to Galileo Exchange – a hybrid of a crypto exchange, a blockchain project and the innovation of accelerated price dynamics.

What is the GELT token?

GELT is built on the Binance Smart Chain (BSC) and pegged to Binance Coin (BNB), meaning GELT price moves in sync with BNB’s price.

Image Source: Galileo Exchange

GELT tokenomics are defined according to an algorithmically implemented deterministic and transparent binding curve function. What this means is when GELTs are traded on the exchange, the price of the token rises or falls at pre-set prices on the bond curve.

Moreover, all BNBs that are used to purchase GELT are stored in a liquidity pool, which is guaranteed to support the exchange, as claimed by Galileo Exchange.

Additionally, Galileo Exchange believes that the supervision and transparency of the liquidity pool ensure the latter’s security. This is an important aspect of the exchange given that in the past, other exchanges have built up a liquidity pool only to abscond with the built-up capital.

Dynamically Connected Indexes (DTI)

One of the prominent features of GELT is the introduction of the world’s first Dynamically Connected Indexes (DTI).

DTIs are tokenised indices created by combining a base token, like Bitcoin, with atmospheric noise (ATN) forming a new class of “hybrid” digital instruments. Atmospheric noise is a naturally occurring commodity and is the very definition of randomness. Galileo Exchange claims that the combination of the base token, atmospheric noise and its application to a trade increase trading opportunities with more trading set-ups and 100 times more Pip action than traditional indices.

More on GELT

The GELT token is available on the Galileo platform which can be purchased using Binance Coins (BNB) with guaranteed liquidity according to the bond curve, claims Galileo Exchange.

The GELT token can be used for investment (HODL) purposes or for trading on the exchange, resulting in a completely frictionless ‘zero-edge’, zero-spreads & zero-fees trading experience for users.

Furthermore, the GELT token offers a ‘zero-edge’ advantage, it relates to the ‘fees’ side of the Galileo platform. Galileo Exchange believes that this provides an opportunity for users to make the best of every trade set-up.

Bottom line

Galileo offers some great features on its exchange and the technology that lies therein, while ambitious, can potentially offer users an intriguing blend of trading and entertainment.

The GELT token’s deterministic and transparent approach to crypto is a good representation of the innovation seen on Galileo Exchange.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

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