The past few months has seen the cryptocurrency market perform better than most traditional assets out in the world. This positive sentiment has been a key factor contributing to new developments and innovations in the space.
2gether, the popular collaborative cryptic trading platform, was the latest player to shake things up in the industry with the listing of its 2GT token on Bounce, a decentralized platform that specializes in auction style ICO’s and NFTs. The ETH generated from the Bounce trades will be utilized for the 2GT/ETH liquidity pools on Uniswap.
According to reports from within the company, 2gether will be issuing 10 million 2GT tokens for a week before issuing the token on Uniswap sometime between March 5-12. 2gether further informed us that over the past few years the company has distributed over 20 million tokens to users. Since 2gether’s launch three years back, over 50 percent of its users are counted as designated founders.
The cryptocurrency market’s growing relevance was again evidenced when 2gether statistics showed an 83 percent rise in 2GT trading between December 2020 and January 2021. Rising trading figures even during a pandemic was proof of the community’s confidence in the platform. Over the past three years, 27 million 2GT tokens worth $1.6 million were purchased off 2gether.
Ramon Ferraz, the CEO of 2gether had said:
“Over the last three years, 2gether has been working on increasing the utility of the 2GT token to further develop our Founder’s Plus Programme and beyond, while emphasizing compliance with the European Commission’s regulatory frameworks with the guidance of the crypto-specializing legal experts at Uría Menéndez’s Digital Law Group. The crypto boom of the last few months has empowered the company to succeed in its token issuance mission, and the 2021 roadmap brings new initiatives and projects that will add new layers to the 2GT’s utility.”
To put things into perspective, 2gether has been building its token utility since the end of Bitcoin’s 2017 bull run. The company has gone about achieving its functionality goals by envisioning the Founder Plus Programme at its core. Each part of the 2gether membership level comprises its own levels that can be scaled by purchasing or earning 2GT tokens. Users and fans of the platform rejoiced when it announced that interested parties from outside Europe could also conduct trades.
2gether added that the 2GT tokens will also be issued on Uniswap soon by utilizing the proceeds from the current Bounce issuance. An exact 50 percent of the ETH prceeeds will be directed towards 2GT/ETH liquidity pools. Additionally, users who stake their 2GT/ETH in the Uniswap liquidity pool will receive a 0.3 percent yield reward. Uniswap was not the only place where users could handle their 2GT tokens as other external wallets have also been given permission.
The token launch was one step in taking 2gether towards the mainstream realm. The platform currently operates in 22 countries with a user growth rate of a whopping 500 percent. Sources close to the company are hoping that the tie-up with Bounce will only enable it to better the burgeoning cryptocurrency ecosystem.