2019.06 Monthly Report (Announce)


  1. GBT Protocol Monthly Report

  2. Changing the name of Grabity

  3. Burning 10 billion GBT

  4. Wallets supporting GBT storage

  5. 2019 New York Consensus Participation

  6. Listing issues

  7. Buy-back and burning issues

1. GBT Protocol Monthly Report

GBT Protocol monthly report will be published on the 10th of every month, providing the information of the progress on the previous month and outcomes for all GBT Protocol supporters and investors. GBT Protocol monthly report has three different categories.

  1. Announce

  2. OrbitsNetwork

  3. Develop

In the “Announce”, we will share the general information of previous progress and outcomes except for the technological issues; in the “OrbitsNetwork”, we will share the information of the progress on the main-net development and relevant issues; and in the “Develop”, we will share the general information on the technological issues and progress such as the Planet Wallet and the SDK (Software Development Kit) except for the main-net development.

2. Changing the name of Grabity

We announce that our project name has changed from Grabity to GBT Protocol. There are two reasons why we decided to change the name of our project.

As follows:

1. There has been communication issues from having a similar name to one of the game development companies (Gravity). And also, we think that using the name of Grabity will cause more issues in the future.

2. We have found an issue from the search engine which is caused by having a similar name with the movie Gravity. And also, we have found the inconvenience issue from searching our project on the website because of the auto-correction.

For these reasons, it was inevitable to change the name of our project, and we announce that the name of our project is changed from Grabity to the new name of GBT protocol.

We are glad to announce the change of our project name to GBT Protocol through this report for the first time and will proceed to apply the new name on the exchange, the website, the community, and etc in order. We are expecting to accomplish this task by August 1, 2019.

3. Burning 10 billion GBT

Through this burning procedure, the total issued amount of GBT is decreased from 100 billion to 90 billion GBT, which is a 10% decrease, and the burning was totally carried out from the company’s holding amount.

GBT Protocol Token Smart Contract Address : 0xcbD49182346421D3B410B04AeB1789346DA6Ce43

Before the burning, 100 billion GBT
After the burning, 90 billion GBT

You can watch the burning procedure in the video below.

2019.06.05 10 billion GBT burning video

This burning may not directly affect the market as it was completely proceeded from the company’s holding amount. However, we have come together to the conclusion that this decision will positively affect the market in the long term perspective and proceeded the burning.

4. Wallets supporting GBT storage

Currently, GBT Protocol supports 4 wallet services.

The Planet Wallet developed by GBT Protocol which will be open to the public in the third quarter of 2019 has features of the best user-friendly convenience and scalability, based on the research and analysis on the existing wallets. The Planet Wallet will support simple cryptocurrency transfer by using personal usernames, the linkage with the DEX exchange, the DApp store, the payment service, and more in order.

The following information is about the wallets supporting GBT Protocol storage.

Bitberry Wallet

Bitberry Wallet is a wallet that emphasizes ease and safety and provides services to simply log in to your Kakao Talk account.

NOVA Wallet

Nova Wallet is a multi-chain wallet service that supports safe storage and transmission of Etherium/EOS family coins. It offers clear features and a user-friendly design, and the country’s first ‘DApp Station’ offers a wide range of blockchain-based services in your wallet.

Coinus Wallet

Coinus Wallet is a wallet that enhances user convenience and security authentication. It provides multi-wallet system, two-factor authentication to enhance security, and provides at-a-glance currency quote information on exchanges around the world at a glance.

Infinito Wallet

Infinito Wallet provides the in-wallet Dapp service, the payment service, membership, and etc.

5. Consensus 2019 New York Participation

GBT Protocol participated in the world’s largest blockchain conference Consensus in New York from May 13 - 15 about the time of the re-emergence of Bitcoin was just begun.

IBM, Microsoft

Global leading companies such as IBM, Microsoft, and Deloitte and blockchain and cryptocurrency experts took part in the Consensus 2019 New York. Furthermore, policy makers and institutions such as US house representatives, the Under Secretary of the Treasury for Domestic Finance, SEC (The U.S. Securities and Exchange Commission), European Committee, Financial Services Agency of Japan, and AMF France and economists including the Nobel prize winner came to discuss about the future of blockchain.

(Left)Loopring CMO Jay, GBT Protocol CEO Jangwon Lim, Loopring CEO Daniel Wang (Right) Consensus 2019

Jangwon Lim, CEO of GBT Protocol met Daniel Wang, CEO of Loopring, and Jay Zhou, CMO of Loopring and discussed about building a decentralized exchange utilizing the Planet Wallet of BT Protocol and the order sharing service of Loopring.

Through this discussion, GBT Protocol will support the in-wallet token exchange service by linking GBT Protocol’s own wallet product, the Planet Wallet, to a decentralized exchange.

Loopring is an open protocol to build a decentralized exchange, which is marked the 100th on the CoinMarketCap rank.

And, GBT Protocol visited Indiana University to meet MBA students of Kelley School of Business and discussed about Indiana University’s assistance on the research of efficient strategies for GBT Protocol’s US market entry as a part of the Case Study. This research will produce positive outcomes for the GBT Protocol’s US market entry in the future.

6. Listing issues

GBT Protocol successfully listed GBT on Bitsonic and BW exchange on April 29, 2019. Nevertheless, the price chart after the listing has not fully satisfied the foundation’s expectation. Therefore, GBT Protocol is working on listing on the large-scale exchanges as a priority with the technological development.

We are currently discussing about listing with 2 international exchanges and 1 domestic exchange, targeting to accomplish it by the third quarter of 2019. We would like to show our passion and positive improvement to our investors by listing on those exchanges. All the announcements will be informed by the exchange first and in the community later.

In addition, GBT Protocol will be listed on the CoinMarketCap after listing on one of the three exchanges above.

7. Buy-back and burning issues

GBT Protocol is preparing various events and listing announcement at the same time. We are considering buy-back, burning, top traders events and etc for our event list. To bring the most effective events for our supporters and investors, the new events will be scheduled at the same time with the listing announcement, and more details will be informed before the events.