The First 24 Hours of GEAR — RECAP
The first 24 hours.
It is a special feeling, unveiling your work to the world. The past few years have involved quite a bit of work in the background, in total anonymity. By definition, it is not something you do every day, and not everyone gets to experience it. It is common knowledge that the industry we are all a part of tends to take you on an emotional rollercoaster ride. The launch of Bitgear.io & the GEAR Token felt akin to a 100x leveraged version of exactly that, all within a pressure cooker!
In preparation for the TGE event of Bitgear.io, our team tried to cover all possible scenarios. To be prepared, no matter what happened. Bitgear has been our baby for quite a while now, and this fueled our commitment to make the launch of the $GEAR token be as great as it could possibly be. Great, it was, albeit not quite perfect. Still, there is a lot to celebrate… let’s take a moment to reminisce.
First, we crashed the Ethereum network! This is an achievement that was on our bucket list! JK… Even though that is an accomplishment to be proud of (ha!) it did have a negative impact on our launch. We were unable to list at the time we indicated and it left you, the members of the community, in the twilight zone longer than you deserved. For that we are sorry!
Next, we distributed the $GEAR tokens as evenly as we could to all the token owners. We put a lot of effort into selecting pre-sale investors that were aligned with our long-term vision. We set a high goal, aiming to revolutionize cryptocurrency trading as you know it, empowering both beginner and advanced traders alike. Part of the equation of making this into the success we envisioned meant that we needed a healthy distribution of $GEAR. We are proud to announce that we have been able to make that happen. At the moment of writing our tokens have reached over 1045 different addresses!
Some Key Metrics:
- 47.7% of the total supply is distributed over 1033 wallets, each has less than 0.5% of the supply
- 43.5% are project tokens that have been locked
- 8.8% of the supply is in the hands of investors, individually holding between 0.6 and 2% of the supply
Our launch was a wild one, the demand for $GEAR skyrocketed right out of the gate. What’s even more impressive are the volume numbers. Currently, we have hit over 4 million dollars in volume and it has not even been a full day of trading. It’s safe to say that by these metrics $GEAR has been one of the most successful launches on Uniswap (we have you to thank for that)! In the coming days, we look forward to many more exciting updates and announcements. Thank you so much for being with us on this journey!
-Bitgear.io Team
About Bitgear.io
Based out of Frankfurt, Germany, the Bitgear.io team aims to provide an unmatched exchange experience through the development of several tools that will allow traders of any skill level access to algorithmic trading strategies, arbitrage, and decentralized finance (DeFi). Bitgear.io has four exciting products as part of its larger platform ecosystem, GEAR Engine, GEAR Market, GEAR Portal, and GEAR DeFi. To learn more please please follow us on Twitter, Discord, and Medium!
