About GBC Repo Mechanism

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Bitglobal

What is GBC?

Global Coin (GBC) is a digital asset publicly issued by Bitglobal based on the Ethereum platform, in which:

  1. The total supply of GBC is 10 million, which has now been released.
  2. The GBC public offering ratio is 100%, Bitglobal does not hold any GBC.
  3. GBC / USDC trading pair has been add on Bitglobal.

The Issuance and Repo of GBC

The most fundamental purpose of GBC public offering is to ensure that Bitglobal holds sufficient operating funds in the next ten years by issuing equity certificates to all of GBC holders.

In return for the early investors' contributions to the development of the platform, Bitglobal will continue to repo GBC on the market so as to ensure the stable development of the GBC trading market.

How does Bitglobal repo GBC?

  1. After the launch of the Bitglobal platform, all transaction fees generated by each transaction are automatically sent to the GBC buy order book by the system (For any subsequent adjustments to the repo mechanism, please refer to the Bitglobal official announcement).
  2. When users place their GBC sell orders on the Bitglobal platform, the lowest asks will be continuously eaten by the system automatically through the deal-making engine.
  3. Bitglobal will deposit 50% of the buybacked GBC in a fixed account and promise not to move them. Another 50% of GBC will be used to promote the development of the platform.
  4. Through the above repo steps, GBC market circulation will achieve stable deflation so as to protect the interests of early investors in a further way.

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