Grexie is a new cryptocurrency that is uniquely market-led. The number allocated through our Community Distribution is pegged to the price of GREX on QuickSwap, and the current gas price on Polygon. As the price decreases on QuickSwap, the number allocated per issue increases, and vice versa.
How did you come up with the idea for the company?
I’ve been playing with Solidity contracts for a number of years, so technically I’ve built proficiency there. I wanted to introduce a cryptocurrency that could be trusted, so I came up with a design that is purely market-led and didn’t have a now-traditional hyped-up ICO stage at the start of the journey.
This mechanism also means we don’t need to go through KYC for each receiver in the UK, as the AML regulations mean that a free exchange token is exempt. Free it is, users just have to pay the gas price, and that goes straight to the network – we don’t profit from the initial sale.
What advice would you give to other aspiring entrepreneurs?
I go through many ideas before I find a successful one. Make sure you’re open to pivoting and pivoting widely when the market shows you there is more room for growth with another idea. Learn how to code as soon as you can, it will at least guide you if you hire a development team as to what will work and what won’t.
Then persevere with the hard early stages of launching: money draining out of your personal bank account rather than investment and revenue coming into your business account.
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What can we hope to see from Grexie in the future?
We’re launching a mobile wallet next year alongside a unique checkout flow for online cryptocurrency payments. We’re also working on a modularised Charity DAO which will allow turn-key DAO implementation for charities and other profit-making organisations.
More blockchain and finance-related innovations are to come over the next few years.
Philanthropy seems to be a main pillar of the Grexie community. Has it always been part of your vision as an entrepreneur?
Yes. In fact, that’s the reason for the entrepreneurial spirit. I ultimately don’t want to be in business but in charity. Specifically helping the disenfranchised with big infrastructure projects that bring everyone out of the poverty line and setting up communities for success.
I’m not talking about building crypto-slums and shipping-container farms to house people, but luxury apartments for the homeless with commerce, clinics, churches/mosques/synagogues/temples and community centres in the same neighbourhood – this is what our brothers and sisters on the streets of our cities deserve. But that needs significant capital – capital can only be gained through grants, donations and great business ideas.
I’ve had some real spiritual experiences in my life which have guided me towards philanthropy, and the strong Christian Spirit is with me… so, I’m counselled by my faith in this Spirit and I’m a strong believer that this Spirit should guide all actions in our lives. Even and especially our professional conduct in business.
Why did you decide to make GREX market-led? What are you hoping to accomplish by introducing it to the crypto community?
I have heard of the dismay caused to investors with scam coins and other heavily inflated ICOs. Trust needs to be in crypto, as that is the future. So to put consumer trust into crypto, we need cryptocurrencies for the world which are purely market-led. There are enough allocations available of GREX for the world’s population, and we can do a lot with the token once we gain adoption.