Groovy.Finance: An update (11th Oct)

What a crazy few days!

So if you are new here, groovy.finance is a platform that lets artists put their music up as NFTs (Non-fungible tokens) and be redeemed for real vinyl records.

We launched just a few days ago with locked liquidity, viewable code on Github and all the other bits you kids worrying about getting rugged care about. We have a new sexy website now too.

Since then we have sold 4 NFTs, every single one has been bought within an hour! View them here, many have been bought by speculators we presume. We have added the funds from these sales into liquidity and we intend to incentivise more liquidity. We have plenty more to launch too!

So we launch the Liquidity Treasury, we are sending 500 of our own dev tokens into a new treasury wallet, they will no longer belong to us, yes we are giving them away. We will then take randomised snapshots (we wont’t tell you when so you can’t play the system by entering and exiting your liquidity) and every 3 days you will receive a drop of Groovy tokens proportionate to your liquidity. We have decided not to implement a staking contract as we don’t want to push out untested tech and also this is more fun. The first week of token drops will be sizeable to help us grow, from then on it will settle down. This is just the first incentive, we will also be offering custom records for liquidity providers, but that is in the future. The treasury and snapshots go live immediately.

On Wednesday our submission portal for your music goes live too. But more on that in our next article.

Keep it groovy!