The $GET Token - Fundamentals
$GET is an ERC-20 token on the Ethereum and Polygon blockchains that fuels all tickets processed through GET Protocol.
The total and circulating supply of GET is as follows:
Total Supply (Fixed supply)
Total Supply distribution:
GET Protocol DAO Treasury
User Growth Fund
The $GET token address on Ethereum is:
The $GET token address on Polygon is:
$GET has a fixed supply meaning that no more tokens can be created. This can be verified via the token smart contract:
GET Protocol was funded by ICO which finalized on the 13th of December 2017. The average ICO rate for $GET was 0.00102483 ETH / GET with the total amount of ETH raised being: 10,935 ETH.
For more information:
The ICO included a security audit which was conducted by Matthew Di Ferrante, founder of ZK Labs. They are a leading smart contract development & auditing firm that have conducted audits for many crypto projects including the likes of Polkadot and Enjin. More information on the audit available in this PDF.
From GET Protocol's inception onwards, we've made it a priority to ensure that the project is compliant to regulatory and legal rules. In order to ensure that these checks were carried out as fairly and unbiased as possible, we hired the services of an independant Dutch law firm, De Roos Advocaten to conduct a Howey Test.
The Howey Test was created by the US Supreme Court in order to determine whether certain transactions qualify as "investment contracts", a.k.a "securities".
De Roos Advocaten concluded, that if the SEC would make the case that $GET is a security, they would have a difficult time making a legal argument for this claim. The Roos argues that $GET has the attributes of a utility and was marketed as such.
The $GET token passed the Howey Test conducted by De Roos Advocaten and therefore the token will likely be considered a utility and NOT a security.
This conclusion is based upon the tokens functionalities and role of the token within GET Protocol.
In case the asset would be evaluated by the US supreme court (i.e. challenged by the SEC) the law firm states it would be highly unlikely that the offering would be considered an offering of a security.
If you would like to read the official report conducted by De Roos Advocaten then you can click this link.
If you instead would like to read the original blog post created by us after the Howey Test was conducted then you can click this link.
As for other countries and unions, GET is considered a utility token in Europe, Singapore and the US as mentioned above.