Quote from: casperBGD on April 05, 2020, 03:42:14 PM

Quote from: Glare_Team on April 03, 2020, 11:37:47 AM

Price and Supply relationship

Supply[GLX]	Price[ETH/GLX]	Total ETH
1,000	.001	.5
10,000	.01	50
100,000	.1	5,000
1,000,000	1	500,000
10,000,000	10	50,000,000

could you explain this in more details, it is not possible by any usual economic relationship, and needs to be clarified prior to investment?

Definitely. I have been busy with getting the core product launched and I'm currently working on materials to better communicate how the supply price relationship works and are in turn connected to the CD contracts. It is much easier to explain graphically.

Tokens are only minted by sending the contract Ethereum. Once ETH is sent to the contract it stays there and provides backing for GLX. This backing ETH can only be withdrawn when users sell tokens and those sold tokens are burned. Token price is determined by Price = Supply*10^-6. So as tokens are bought and supply rises price rises. If tokens are sold and therefore burned the price will fall. This in turn works with CD contracts to give users a reason to hold onto the tokens for a longer period of time and (in theory) give the token a more stable value.