18th January Update: we are hiring, Cryptonaire Weekly article featuring, FAQ and more!

Here's an update of what the team have been up to and the answers to some community questions!

‍

We are hiring a full-time Marketing Executive to work in-house as we expand the team and scale the project. We have already had some fantastic applicants that we can see would be great fits, so are looking forward to the interview process. If you know of anyone that has experience in both Marketing and the Crypto industry then feel free to share this link:

https://uk.indeed.com/cmp/Giving-to-Services/jobs?jk=2b0185b3d9690237&start=0

Our CEO has been busy with journalists the last two weeks and we are looking forward to seeing more articles about Giving To Services in the near future.

‍

We were also included in another Cryptonaire Weekly article which you can read here.‍

‍

As mentioned in the last update, we have Luke representing us in the London Marathon in April this year in which he will be fundraising for Roald Dahl's Marvellous Children's Charity. We will be setting up an online auction to raise money for this soon so keep your eyes open! We also welcome any donations of prizes, in which you can contact team@givingtoservices.com to do so.

‍

If you would like to support Luke with a donation, he has a fundraising page here

‍

‍Answers to some questions from the community‍

‍

1. Do we get docked 1 % on staking when we switch?

‍‍

Yes, this will stay the same as it is now when locking tokens in on the platform.‍

‍

2. Does our lock-in period start again?‍

‍

Yes. At the launch of the new platform, users will log in and see their total switched SVS holdings in their platform wallet. They can then lock-in their tokens as they see fit.

‍

3. Will the lock-in period still be fixed at 90 days or if necessary, will users be able to unstake and pay an early exit fee?‍

‍

At launch, there will be no option for early unlock, but we understand users may want this in the future and so we’re open to enabling this further down the line. This, however, would be subject to some form of penalty.‍

‍

4. What are the staking baskets and APR’s?‍

‍

We’re moving away from the terminology ‘staking’ as it isn’t accurate for the way the platform works on XRPL. The new terminology will be to ‘lock’ and ‘earn’ as you will lock your tokens to earn rewards.

‍

The time periods are as follows:

‍

Lock for 3 months - 2.25%

Lock for 6 months - 8%

Lock for 12 months - 20%

‍

Tokens can only be locked in from the 1st to the 5th of each month.

‍

Upon locking, the total rewards available on unlock are calculated and will be visible to the user. The 4% service reward is also calculated at lock-in.‍

‍

5. Will rewards always be paid out in SVS?‍

‍

Yes. Users can then swap to XRP on the platform and send it to their off-ramp of choice.‍

‍

6. Are the team going to add all case studies for individuals and organisations they have helped to date?‍

‍

Subject to their individual privacy requirements, we are open to producing more detailed stories of donations etc. These details will also be in place for our Instant Aid donations.‍

‍

7. Are the team planning on doing a live AMA once we switch to XRPL?‍

‍

There will likely be some form of AMA once the new marketing hires are in place.‍

‍

8. Are we going to have any schedule of goals and targets laid out?‍

‍

We will continue with regular updates about any new developments that we are working on and any time-frames to keep everyone updated, but there will be no formal schedule. ‍

‍

9. Are the team any closer to releasing updated Tokenomics?‍

‍

There will be a fresh white paper at the new platform launch that will detail the new Tokenomics.

‍

See you in the next update!

‍

GTS Team

‍