November 7-th held an Ask Me Anything session at ICO Speaks telegram chat. From the GHA token side there was:
💻 Mr Yang – CEO of GHA Foundation @ghatoken
My name is Yang Ping Hsun, the CEO of GHA foundation. I first encountered cryptocurrency in 2011. At that time, I participated in the first Bitcoin mining in my life. However, I did not continue after 8 months due to work factors. Nevertheless, this first encounter with cryptocurrencies left me with a deep impression . Since then, I have been engaged in new and innovative industries. I have had a high degree of interest in anything that is related to world trends and innovations, and in 2016, created two invention patents.
In 2018, due to having connections with a few American friends, I entered the cannabis industry and founded a cannabis company with a few of them good friends such as the current GHA CTO.
In 2019, we then had the idea of combining cannabis with the blockchain. With the combination of hemp with blockchain, I believe that this can result in many industrial transformations.
💻 Kevin – Co-founder of GHA Foundation @kevinleu
💻 Paul – CMO of GHA Foundation @shighman
My name is paul, I’ve only recently been bathing in crypto investments but i’ve been analyzing blockchain for many years. My strenght is on hemp, which i’ve been working in from China for over 5 years now. I see hemp as a crop that will save the world in terms of environment impact and in may industries
Let’s get started!
Q: What motivated you to start this project?
A: My team and I have been in the hemp manufacturing industry for over 20 years and noticed the rising trend of blockchain technology to promote trаnѕраrеnt trаnѕасtiоnѕ between рrоduсеrѕ and соnѕumеrѕ through thе Pооl; bаѕеd оn ѕmаrt-соntrасtѕ. In this process we can create a hemp-based marketplace for S2B2C (suppliers-business-customers). This creates wealth and opportunities for everyone involved in the supply chain.
Q: What is the roadmap for GHA?
A: Here’s what has been completed:
✅ Completion of the contract with the upstream partner company of related industries
✅ Create GHA website and DAPP
✅ GHA website Live
First Round Activities
TG group competition + group leader promotion
20 Aug 2021 – 19 Sep 2021
The first round of crowdfunding
20 Aug 2021 – 3 Sep 2021
The first round of airdrop
25 Sep 2021 – 24th Oct 2021
The second round of crowdfunding
25 Sep 2021 – 4 Oct 2021
The second round of airdrop
Online mobile mining pool
1 Nov 2021 – 30 Nov 2021
The third round of crowdfunding
1 Nov 2021 – 10 Nov 2021
The third round of airdrop
Second Round Activities
1 Nov 2021
After the crowdfunding ends, the tokens will be put into the backup wallet, which is will be used for the GameFi development
NFT blind box activity around A
10 Dec 2021
Launch on JustSwap
Burned GHA 5%
Confirmation of agriculture land and area for farming
End Dec 2021
Burned GHA 4%
End Jan 2022
Burned GHA 3%
The extraction of CBD equipment into the factory
End Feb 2022
Burned GHA 3%
Biosynthetic CBG R&D
Development of Pet product
Development of Textile fiber product
30 Mar 2022
Burned GHA 3%
Launch GHA GameFI
Establishment of a vertically integrated industry chain trading platform
Development of GHA payment system
End May 2022
Burned GHA 3%
Establish branches in various regions
HEMP related product sales
The vertically integrated industry chain trading platform is Live
End Jan 2023
Burn GHA 3%
GHA payment system is Live
CBG biosynthesis results published Jan 2023
End Jan 2024
Burned GHA 1%
Q: What are the USPs of GHA Foundation?
A: For an apple to apple comparison, let’s compare GHA to that of traditional hemp companies in a similar nature of business and with hemp businesses that have incorporated blockchain. Our key competitive edge lies in our CBG production process.
Traditionally, CBD and CBG are extracted from the following steps (simplified):
1. Growing of the hemp plant
3. Removing of the hemp leafs
4. Putting the hemp leafs through supercritical fluid extraction to derive the end CBD/CBG
This entire process based on the traditional approach takes around 10 months.
For us, we speed up and make the whole process more cost efficient by using biotechnology to derive CBG through yeast fermentation. It only takes about 1 month to derive CBG through this method and using yeast as the raw material saves on raw material costs.
The more efficient way of creating CBG will also result in higher hemp product output for the given resources which results in higher revenue down the chain.
GHA’s formula of deriving CBG from yeast will eventually be patented and the sales of the patent can also contribute significant extra revenue for the company.
These 2 points indirectly boost the price of the tokens in the long term as GHA pledges 20% of its profits to repurchase GHA tokens from the market. More revenue would mean more tokens repurchased, less supply in the market and hence a higher GHA token value.
Q: How big is your team atm?
A: Right now 8 peeps in the core team. 16 in our tech team. 5 in our marketing team.
Q: How will you ensure GHA’s token appreciates in value?
A: The price of any token is determined by demand and supply. On the demand side of things, GHA’s online-to-offline vertically integrated hemp marketplace will create utility for GHA tokens as transactions going through the marketplace will mainly be in GHA tokens.
Users holding other cryptos such as ETH & BTC will eventually have their cryptos swapped to GHA tokens before spending on the platform. We will be working on a seamless process for this.
On the supply side of things, we will steadily reduce the supply of GHA tokens in the open market.
First, 25% of all token supplies will be burnt, and 20% locked up by GHA. GHA will also continually repurchase tokens from the market as mentioned in the previous question.
The eventual aim is to control the supply in the open market such that there’s only 20% of total GHA tokens available out in the open market. By boosting the demand with true utility and gradually reducing and capping the supply, GHA tokens will appreciate in value in the long term.
Q: GHA recently announced the launch of the NFT blindbox activity. Can you explain more about it?
A: NFT blindbox activities start in December 2021 till end May 2022. Each blindbox contains an NFT which can be used to redeem for USDT rewards. The blindboxes are colour coded and represent the different tiers of rarity and USDT reward amount.
🔴Red – Common, NFT can be used to redeem for 2 USDT
🔵Blue – Uncommon, NFT can be used to redeem for 200 USDT
🟢Green – Rare, NFT can be used to redeem for 1,000 USDT
🪙Silver – Ultra Rare, NFT can be used to redeem for 2,500 USDT
🥇Gold – One & Only, NFT can be used to redeem for 25,000 USDT
There will be 6 rounds of blindbox activities being played, A, B, C, D, E, F across a span of 6 months.
Each blindbox can be purchased at a flat rate of 20 USDT.
Players may also trade boxes with one another. A 5% transaction fee is applied for every transaction.
🔑Whitelist recruitment in progress here: Whitelisters get to win 1 free blindbox each.😊
Q: What is the GameFi project?
A: The GameFi project’s aim is to give our community a more varied experience, and this also allows us to grow our users in the hemp ecosystem. GHA Tokens earned from the game can be used to spend on our O2O hemp marketplace that will be launched in Dec 2022.
The game seeks to educate the public about the hemp ecosystem and the benefits of hemp-derived products in a fun way while incorporating play-to-earn(P2E) elements.
In the game, characters grow their own hemp and go through the hemp supply chain to derive the different end products which they can eventually sell for GHA tokens.
Elements that will be present in a real world scenario will also be introduced in the game such as natural disasters, potential regulation, theft etc.
We eventually aim to integrate our game into the metaverse as it’ll be a matter of time before there is a virtual hemp plot of land in the metaverse.
Q: There is a Telegram competition ongoing now, could you explain more about that?
A: The telegram competition is ongoing right now. The winner will get a monthly salary of 1500 USDT + dividends.
Here’s a summary of it:
Participants to create a new Telegram group, or rename an original Telegram group. Group name cannot be guided or implied as an official GHA group.
Send the following details to [email protected] – <name of telegram group> <link to telegram group> <name of group leader>
GHA team will assign admins to the group.
GHA team will provide tasks and/or content, and participants will execute them.
Selection criteria: group size, group activity, group leader’s influence.
GHA team will review group for bots
2 winners groups will be selected as winners: 1 English, 1 Chinese group. Each group’s prize pool is 3 million GHA Tokens.
Winners will be announced on January 02, 2022. Awards will be distributed on January 05, 2022.
The 2 group winners will be combined to form the official GHA Token telegram group.
🏆 AWARDS to be won:
* Top English Group: 3 million GHA Tokens
* Top Chinese Group: 3 million GHA Tokens
* Monthly salary of 1500 USDT + dividends
Q: Since NFT is popular nowadays, is there a plan for NFT integration?
A: We have 6 rounds of NFT blindbox
When we launch Round A in December 2021, you can purchase a blindbox for 20USDT.
The whole blindbox campaign will last 6 months. After this we will launch our GameFi projecr which will have its own set of NFT as well
More details can be found in: https://ghatoken.com/pc/nft.html
You can also join our discord to be whitelisted:
Q: Which do you think is more important:
3. Token Price
A: I think the best is 1 – 3 – 2
Q: How to promote your payment system to farmer, business, customer?and it is on gha chain or still on tron?
A: Everything will be integrated to the hemp marketplace.
Farmers & hemp businesses can list their offerings on our marketplace and users will transact using GHA token through our marketplace.
For offline merchants, consumers will purchase using GHA tokens as well in an online-to-offline style
Our activities such as the blindbox n GameFi helps us build the consumer base; with this consumer base and our connections to existing stakeholders in the hemp ecosystem, we will onboard them into our platform
Chain wise we will cross chain to BSC, ETH too so users will have a variety of options to choose from aside from Tron & GHA chain.
Q: What’s the Tokenmics?
A: You may refer to our whitepaper for this:
ICOSpeaks hosted an AMA Session with the GHA Token Team. That’s all for today.
Thanks to all users who participated.
Thanks,GHA token for being with us
Thanks, all and see you soon😉
Wanna know more?
Take a look at our other ama sessions