GAMB is a project run by GAMB Power to the Merchants Ltd., a company registered under the laws of Malta. GAMB ran a Malta-licensed ICO in 2018, created the GMB Token, and built the GAMB Marketplace.
Globra FZ-LLC is registered in the UAE and owns GLBrain and GLMall, a marketplace for online shops. It uses and holds a unique patent-pending blockchain technology allowing coin transfers without the usual transfer cost. Globra entered a cooperation and license agreement with GAMB to build the GMBT parallel token and the GAMB Marketplace.
Globra entered a cooperation and license agreement with GAMB and built the GMBT and the GAMB Marketplace for GAMB.
The Token issued according to the GAMB white paper in 2018, an ETH based token, is now trading on two exchanges, KuCoin and P2PB2B. The current and maximum coin supply is 5.000.000.000. There is 50.000 coin holders currently.
The GMBT is a parallel token to the GMB, allowing ultra-fast and free transaction without the usual crypto related transaction costs. It is the transaction coin of the GMB on the GAMB Marketplace. GMBT uses the Skyfiber Blockchain, and the current and maximum supply is 5.000.000.000.-, directly related the supply of GMB.
GMBT can be stored on special GMBT wallets and be transferred only between GMBT Wallets.
A GMBT always matches a GMB which means a GMBT held in a GMBT wallet represents a GMB in a defined public GMB wallet. There are two ways to get GMBT:
Buyers can swap GMB from a GMB wallet to a GMBT Wallet. The coresponding GMB will go to the public GMB wallet until re-swap.
Buyers can purchase GMBT directly with fiat or crypto through the swapping gateway. Upon a direct purchase of GMBT, GMBT will be added to the public wallet waiting for their re-swap.
Go to GLMall and explore offers marked with the GMBT icon. This icon indicates that this product is being sold for GMBT. These transactions can be executed on the GAMB Marketplace.
Merchants offering their products and services on GLMall have the option to sell for fiat or GMBT. If the Buyer opts to buy in fiat, it links to the Merchant’s online shop. If the buyer opts to buy in GMBT the Merchant will execute the deal on the GAMB Marketplace in GMBT. Please visit these tutorials to learn more about the process.
GMBT transactions also allow the use of Agents / Influencers for product promotion.
The Merchant needs to define what products Agents / Influencers can promote.
Agents need to register and get a unique code. Any sales done using this code entitles the Agent / Influencer to a commission as per the smart agreement with the Merchant. The system works like an MLM (Multi-Level-Marketing), allowing every Agent / Influencer to engage further agents on three levels. The commission is transferred via the blockchain instantly upon transfer of the GMBT to the Merchant. Please visit these tutorials to learn more about the process.
The Skyfiber blockchain has zeros gas fees to transfer GMBT. Therefore, swapping GMB to GMBT does not create any transfer cost. However, re-swapping from GMBT to GMB involves ETH and this created a gas price which is paid by GAMB. Therefore for re-swapping, a fixed fee depending on the current ETH gas fee is charged by GAMB.
Purchasing GMBT direct with fiat or crypto technically means GAMB is selling GMB to the buyer and needs to use the funds to rebuy the corresponding GMB from the exchange. Therefore, to cover this related transaction cost, GAMB charges a small fee in GMBT to the coin holder. GAMB also charges a percentage of any transfers from the GAMB storage wallet to the Merchants, Buyers, or Agents / Influencers. This % depends on the volume a Merchant sells in GMBT and is capped.
Some buyers prefer to purchase GMBT in fiat in case they are not so familiar with trading and buying on crypto exchanges. To makes sure all users can participate on the GAMB marketplace the direct purchase option was implemented.
The benefit is huge as there is no transfer cost for the buyer for unlimited transactions within the internal blockchain. What is seemingly only one transaction, sometimes really is one large transaction made up of multiple small ones as the funds travel through various stages and wallets of Merchants and Agents and re-swapping. Other blockchains would consume enormous funds by charging gas feed multiple times based on the number of small transactions. This is the key differentiator when using skyfiber.
All GMBT in use on the GAMB marketplace block the same number of GMB on the external blockchain until re-swap. This directly limiting impact on GMB liquidity, created through increased use of the GMBT on the Marketplace, forms an organically value-driving token economy.
Whoever owns the GMBT before, during, or after the use in e-commerce transactions bears the risk and benefits from value changes of the related GMB while waiting for the re-swap. The Buyer hold this risk until payment, the Merchant until receipt of the GMBT from the transaction, and as long anyone holds the GMBT coin in their wallet.