✌️12 new answers to your questions!
If you haven’t read the previous articles with answers to your questions, be sure to do so. The answer to your question may have already been answered before.
👉 The first article is https://teletype.in/@royclubofficial/QrXbS7xCLuv
👉 The second article is https://teletype.in/@royclubofficial/mTPPru1mXYc
And we get down to the new answers.
1. How to exchange UMI for GLIZE? Do I need a UMI Wallet or can I use a wallet on SIGEN.pro? Where will the exchange take place — on the ROY Club website or not?
The exchange option is not yet available. It will appear in 2 weeks.
But now registration in GLIZE via referral links is already open. And it is necessary to pass it using UMI mnemonic wallet ONLY.
If you register in GLIZE structure with address SIGEN.pro, you WILL NOT GET TOKENS AND BONUSES.
So be sure to use a wallet with a mnemonic phrase when registering. You can create one:
- On the official website https://wallet.umi.top/
👉 For iOS: https://apps.apple.com/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉 For Huawei: https://appgallery.cloud.huawei.com/ag/n/app/C104241307
We will provide more details about exactly how UMI will be exchanged to GLIZE and what needs to be done when the exchange process starts. Don’t worry, we will publish all the information about what and how in advance.
In the meantime you can concentrate on building the structures.
2. Will there be a separate app for GLIZE from the ROY Club?
As GLIZE is a token on the UMI network, the official UMI Wallet and the official UMI Wallet mobile app will be available to store and make transactions with GLIZE.
In addition, as part of the UMI OneApp, a wallet for multiple cryptocurrencies and tokens at once will be introduced — U-Wallet. GLIZE will also be integrated into it, as the wallet will support all assets from the UMI blockchain.
We also remind you that for your convenience, the GLIZE Personal Accounts have already been successfully added to the ROY Club app.
Thus, there is no need to develop a separate app, it will only complicate things.
3. Everyone used to be in favour of endless emission, but now they have changed their minds drastically. Why? And why couldn’t the UMI team just reduce the percentage of staking?
This question should not be addressed to us, but to the UMI team. However, we also know the answer to it, so we are happy to voice our position.
Initially, staking played into UMI hands and helped it grow, forming a large cryptocurrency community around this coin. However, too many coins were subsequently created, which in practice unfortunately began to have a very negative impact on the exchange rate. This disrupted UMI’s development plans, which is why the idea of stopping the staking to successfully enter the DeFi market emerged. All information about this is in the UMI team’s Manifesto: https://umi.top/OneApp_en.pdf
Reducing the percentage of staking would not help at all, because there are already too many coins created and it is too much to generate new ones. Even with 10% stacking, as many as 100 million new coins would enter the market every month. The UMI team proposed a different option, and the community supported it — to make UMI a deflationary asset and develop a OneApp ecosystem that integrates all types of crypto-market earnings. The Manifesto also says that UMI staking will return with a reduced interest rate when only 210 million UMI coins remain after being burned.
We in turn decided to create an alternative to UMI staking in the form of GLIZE Token staking with more elaborate tokenomics. So everyone wins: both the price of UMI can start growing due to the shortage, and thanks to GLIZE the staking opportunity for you will remain — with favorable terms and with even better bonuses.
And most importantly, the GLIZE token is not just created for staking, in the future it will become a native NFT marketplace token based on UMI OneApp. This will bring great value to it, create demand and open up a whole new development vector.
4. How many coins does it take to get the early bird bonus? 10 000 UMI? What if I don’t have any? Will the early bird bonus be paid to those who have more than 10 000 UMI?
The minimum threshold for an early bird bonus is 500 UMI.
There is also a maximum threshold of 10 000 UMI. If you send 30 000 UMI, 100 000 UMI or even 1 million UMI from one address for exchange, you will only get an early bird bonus of 10 000 UMI.
If you don’t have coins, you can buy them at SIGEN.pro: https://sigen.pro/
5. Why is the referral programme for GLIZE calculated in USD? How should we understand how much GLIZE needs to get ranks?
At the first stage, we decided to link the referral programme to the USD, as it is more convenient to navigate in this way at the start. Once the market rate of GLIZE is known and stabilised, we will redesign the referral programme so that all calculations are in GLIZE. The price of the token will be known after listing on the decentralized U-DEX exchange.
6. What is the minimum amount to transfer to GLIZE?
There is no minimum threshold — any amount of UMI can be exchanged for GLIZE.
However, a minimum of 500 UMI must be exchanged in order to receive an additional migration reward (up to 45%).
7. Why freeze the tokens and all acquired interest for 30 days after entering the staking? There was no such thing in UMI.
GLIZE has more clever tokenomics, taking into account all the disadvantages of UMI staking, which led to a big drop in the exchange rate.
A freeze is needed in order not to create excessive selling pressure and not to provoke a drop in token price. We believe these are more than loyal conditions. In many other crypto and MLM projects, the input body can be frozen permanently or for a very long period of time.
For example, in the case of Ethereum Stacking, ETH coins are frozen until the cryptocurrency fully converts to Proof-of-Stake.
And that won’t happen any time soon — at least in a year. We, on the other hand, have taken a more lenient route. The body of the deposit and all the accrued interest will become available to you after 30 days.
8. Why did so few users vote to stop staking? Such a vote is unfair, since only 15% decided the fate of UMI.
The voting was completely fair and transparent.
The UMI team and the ROY Club team were actively encouraging users to take part and cast their vote and express their position throughout the entire voting period. But you should understand that in most countries of the world the turnout even for presidential elections does not exceed 30–50%.
Some didn’t want to bother signing up, and some simply didn’t see fit to vote for other reasons. Many saw a clear “FOR” majority and did not find much point in wasting their time and energy in voting.
Anyway, everyone had a chance to vote and 93.41% voted to stop staking and enter the DeFi market. So to say that the vote was unfair is wrong.
9. If I exchange 100 UMI for GLIZE at 5:1, do I lose 80 UMI? And then I have to give 15% as well?
If you exchange 100 UMI at 5:1, you will get 20 GLIZE. Also, let’s point out that we calculate that at the time of listing, the GLIZE rate will be at least 5 times the UMI rate (these are not promises, just our thoughts).
As for 15%, yes — if you send GLIZE to staking, the commission for referral bonuses will be exactly that much. But thanks to staking and the lucrative referral program, it won’t be difficult to “win back” that 15% in a short period of time.
10. How will GLIZE and the NFT platform be backed up? Where will the token be used? What is its value?
GLIZE is initially a token for staking as an alternative to UMI staking. However, GLIZE will later become a native token of the NFT platform that will appear as part of the UMI OneApp. Additionally, GLIZE will be added to the liquidity pools on UMI OneApp and some other products.
Thus, in the future the value of GLIZE will be shaped precisely based on the popularity of the NFT platform and UMI OneApp. For example, if users want to use the NFT platform, they will need to buy GLIZE. This will provoke demand for the token and generate its value.
11. What to do now? How to register? Should structures be developed?
You need to register, you need to develop structures too. But for now, registration is only available through referral links. It is not possible to register without a referral link. This is done specifically so that leaders can competently build their structures. So there is no confusion. So get information from your leaders, take the link and register.
If you don’t have a leader, there is a section on the official website called “Curators” https://roy.club/club/curators where you can contact the ROY Club leaders. You can also log into your Personal Account on the ROY Club website (not from the mobile app) and there is a chat room of a senior Curator and you can go there and ask for the link. We are sure that many participants will respond to your request.
There are two weeks for the registration phase. During that period of time everyone will have enough time to register. Then there will be an opportunity to exchange UMI for GLIZE. We will inform you in advance. The main thing is to follow news in our social networks.
12. Why such a big commission — a whole 15%? UMI had 10%.
We have developed the referral programme for GLIZE completely from scratch to make it even more profitable and attractive for active ROY Club members. Users are indeed charged 15% rather than 10%, but all of it will be used to pay out bonuses. Don’t worry, with the help of staking and the profitable referral program you’ll quickly get your 15% back.