Parachain auction announcement

Share

After months of hard work by our engineering team we’re happy to share we’ve achieved feature complete on the Teller, Connectivity, and Yield protocols. The next step in our journey will be to compete in a parachain auction for a slot on Polkadot.

 

GIANT set out to bring liquidity to bandwidth by tokenizing, coordinating, and financializing bandwidth through a community-owned, decentralized set of protocols. Today GIANT is live with its mainnet tokenizing mobile roaming data in 209 countries and regions. Anyone can purchase mobile data online with credit card or USDC, instantly activate that data on their eSIM-compatible phone (or do it later when you’re ready to travel), earn $GIANT tokens, and stake those tokens in provider pools to earn yield.

 

Enabling this experience are implementations of GIANT’s three protocols on a standalone, Substrate-based chain:

  • Teller: Turns prepaid mobile data into novel Data Contract Tokens (DCT) that unlock bandwidth as a store of value on the blockchain. DCTs can be gifted, traded, or activity to go online.
  • Connectivity: Provides a decentralized, trust-minimized mechanism to activate DCTs and go online. At its core are provider pools of GIANT tokens that secure service delivery guarantees for DCTs.
  • Yield: Enables $GIANT holders to earn when they stake into provider pools. In exchange for helping to secure the network, stakers earn a 5% revenue share on all future sales plus 13% APY. You can learn more about the tokenomics model described in our whitepaper.

 

The Polkadot ecosystem is growing incredibly quickly (faster than any other layer 1 ever!) and joining Polkadot will help GIANT benefit from shared security from the Relay Chain, cross-chain messaging with XCM, continued innovations like the bridge hub, and a talented and passionate community of builders and $DOT-hodlers.

 

Joining the Polkadot ecosystem will create new opportunities for connectivity providers, consumers, and $GIANT-hodlers by unlocking bandwidth as a digital asset within the thriving Polkadot ecosystem. Read below for answers to a few frequently asked questions.

 

Where can I track your progress and get information about the auction?

Follow us on Twitter for on-going updates on our progress. GIANT’s project details will also be updated on the parachains.info site as we move into testing and start the crowdloan.

 

Where can I get $GIANT?

Today you can earn 40% back in $GIANT on the mainnet when you purchase international roaming data through the GIANT Shop – https://app.giantprotocol.org. All $GIANT rewards are auto-staked and earn 13% APY plus 5% of future sales. You can also earn 10% of rewards when you refer people to the GIANT Shop. In the future you’ll be able to earn $GIANT as rewards for bonding DOT as part of the parachain auction crowdloan.

 

Where can I use the app?

https://app.giantprotocol.org

 

Will I be able to keep the $GIANT I’ve earned before the parachain launch?

Yes! All $GIANT earned before the parachain launch will be honored once we become a parachain. To see your $GIANT balance at any time you can go My Page on the app and connect your wallet.

 

When will GIANT participate in a Polkadot parachain auction?

We are planning to participate in a Polkadot parachain only. The Polkadot parachain crowdloan will begin in March 2023.

 

Want to learn more? Follow us on Twitter!



Read more news

Parachain auction announcement

Read More

New product release – eSIMs from Airalo!

Read More

GIANT Protocol: DeWi’s Proof-of-Stake

Read More

Discover projects that chose IoTeX to disrupt wireless connectivity forever

Read More

GIANT Protocol and Airalo Partner for Crypto-powered Mobile Data for Travelers

Read More

GIANT Protocol and IoTeX Partner for Global Decentralized IoT Connectivity

Read More