Geeq (GEEQ)

Basics

• Based in: Canada
• Started in / Announced on: 2017
• Testnet release:
• Mainnet release:
• Blockchain with its own Proof of Honesty consensus mechanism. It plans to have no mainchain but multiple different GeeqChains with all their own validation and blockchain ledgers.

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

• Is not mentioned anywhere in the documentation (6-7-2021).

Token

Token Allocation

• 100.000.000 GEEQ. From their website (6-7-2021):

1. "Unissued Supply 59.38%
2. Pre-Round 2.22% ($0.18 released over 3 months.)
3. Unlocked-Round 0.4%
4. Customer Acquisition 3%
5. Marketing 9% (Locked for 6 months, then vested for 24 months.)
6. Founders 7% (Locked until a successful mainnet is launched, estimated: 1 year after the TGE. Then vested for 12 months.)
7. Advisors 5% (Locked until a successful mainnet is launched, estimated: 1 year after the TGE. Then vested for 12 months.)
8. Team 11% (Locked for 1 year, then vested for 12 months.)
9. Floating Liquidity 2%
10. Hybrid Seed Round 1%

The details of the rounds, liquidity and monetary policy, tokenomics and distribution may change depending upon conditions in the current regulatory, financial, and legal environment, agreements with liquidity providers, coding and other technical considerations."

• From their website (6-7-2021):

"Overall, 45% of any new $GEEQs issued will be set aside for token value stabilization, 30% for development, sales and other platform expenses, 15% for founders advisors and contributors, and the remaining 10% for developer support and community outreach."

Utility

• From their website (6-7-2021):

"$GEEQ is a utility token used to pay nodes for the validation and virtual machine services they provide to Geeq’s multi-chain ecosystem. $GEEQ is also used as a staking token for the good behavior bonds that help ensure honest behavior by the validation network. As a purely transactional cryptocurrency, $GEEQ is also suitable for use in micropayment and other payment applications."

Coin Distribution

• Has 1659 holders (6-7-2021) of the GEEQ token with most of the tokens in Geeq premine allocation wallets. The first unknown address is on the 9th place with 0.6984% of the supply.

Technology

• Whitepaper can be found here.
• Code can be viewed here in their patent (25-7-2019).

Implementations

• Built on: GEEQ is an ERC token on Ethereum (6-7-2021). According to its website this will be swapped with Geeq's own GeeqChain Mainnet.

How it works

• Runs on Proof of HonestyTM (PoH) (6-7-2021):

"By re-examining the data that honest users will need to make decisions, rather than what network participants may want them to believe, we found a way to solve the information game by re-engineering the idea of consensus.

Simply put, Geeq’s protocol requires each node to work independently. Honest nodes are able to deliver Proof of Honesty only if they’ve arrived at the singularly honest conclusion. As a result, all honest nodes arrive at the same, provably honest blockchain on their own, and the information coordination problem is solved when users interact only with honest nodes."

• From their website (6-7-2021):

"Geeq is a new approach to distributed ledger technology (DLT). Geeq’s proprietary protocol, Proof of Honesty (PoH), provides a multilayered security guarantee based on economic mechanism design, that extends to the entirety of the Geeq Platform. Each instance of a GeeqChain has a validation layer with its own blockchain and ledger, its own independent network of validating nodes, and a separate application layer which may be customized to meet the requirements of a wide variety of use cases."

• From their website (6-7-2021):

"Proof of Honesty (PoH) is a leaderless protocol. No node has the special privilege of proposing a block. Instead, nodes rotate through the role of a hub which has additional work to do in order to coordinate timely validation by the set of validating nodes."

Mining

• It explicitly mentions it does not use mining (6-7-2021):

"Simply put, Geeq doesn’t have miners because their incentives are not aligned with our vision of a decentralized economy. In Geeq’s ecosystem, all incentives are aligned with those of the honest user, including the nodes and validators who construct and maintain the blockchains. At Geeq, market power doesn’t matter. Honesty does."

Staking

• Staking and Liquidity Staking options are pool based (6-7-2021):

1. "Staking is a group activity with multiple contributors for each staking contract.
2. Each staking contract has a maximum on the size of the pool. This maximum is in orange and is at the top of the terms and conditions box. For example, the staking contract below has a maximum of 500,000 Geeq tokens.
3. Once the maximum is reached or the window for staking has closed, whichever happens first, the pool is closed.
4. Individual limits for participation in any pool (minimums or maximums) may apply for individual wallets.

Each staking contract has rewards that depend on time.

1. Stake until full maturity to receive maximum rewards. Full maturity (the full term of the contract) is pre-specified with a date and time at which time full rewards will be available for withdrawal. In the picture above, the full term is 120 days.
2. Be aware of the terms for early withdrawal.a. Some pools do not offer early withdrawal, you must stake for the full term. These simple contracts are written without an early withdrawal option, on the other hand, you are certain to obtain the full rewards.b. Some pools offer an early withdrawal option for flexibility. The earliest date for early withdrawal is also pre-specified with a date and time, after which you may withdraw your stake at any time. Although rewards are lower for early withdrawal, they increase linearly every day — past the early withdrawal date right up until full maturity.In other words, the closer your withdrawal is to full maturity, rewards will be higher but still less than full maturity.
3. In the picture above, early withdrawal begins 60 days after the staking window ends.
4. After the date and time of full maturity, the full rewards will be credited to your wallet when you unstake."

Other Details

Algorithmic monetary policy (AMP)

• From their website (6-7-2021):

"Geeq introduces an original algorithmic monetary policy (AMP) that provides users certainty about Geeq’s token supply and ties it directly to platform usage. By expanding or contracting the tokenbase in response to market conditions, this policy creates a “stabilized-token” that can increase in value in an orderly way, but is supported to protect it from rapid decreases driven by thin speculative trading. This policy is described in detail in the companion Monetary Policy document. The AMP is planned to be activated 12 months after mainnet launch or as soon as the ecosystem supports it. No tokens will be issued or removed from supply by the AMP before this event. Instead, Geeq will use market activity tokens already issued to bring liquidity for the ecosystem."

• From their website (6-7-2021):

"The fundamental idea of Geeq’s monetary policy is to slowly expand the tokenbase as $GEEQ’s price goes above the original price, P0, to generate a cash reserve that will be used to support $GEEQ’s price if it should ever start to decrease. The AMP itself uses this to create a non-trivial and predictable base of supply and demand for $GEEQ at every price level that should insulate $GEEQ from fluctuations that result from thin trading volumes.

Operationally, the AMP generates new tokens at a rate of 10% for every multiple of the base price of $.25 that $GEEQ’s price goes up. Part of the revenues generated from the sale of these new tokens is placed in escrow in a Fiat Stabilization Reserve (FSR) account. As long as $GEEQ’s value goes up, both the tokenbase and the FSR go up as well. If $GEEQ’s price ever begins to fall, the FSR account automatically starts buying back a predetermined, publicly known, number of tokens and places them in a Token Stabilization Reserve (TSR) account which removes them from the circulating coinbase."

culating coinbase.

Compliance

• The website mentions that they can change all the information, token distribution, mechanisms at any later date. They also have a patent on their system.

Roadmap

• Can be found here. It planned to go live in 2020, but now (6-7-2021) it plans to go live in this year.

Team, Funding, Partnerships, etc.

Team

• Full team can be found here.
• Geeq Corporation

(:

Knowledge empowers all and will help us get closer to the decentralised world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31

Also check out CoinTr.ee for more content.