GoMeat, the only digital marketplace connecting consumers with specialty (halal and kosher) stores has announced its GoMeat Token – the first of its kind project catering to the specialty foods industry – has made its much-awaited debut on Hydra DEX after a highly successful June ICO run – where it sold out two weeks early.
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GoMeat developed its first specialty meat marketplace prototype in late 2018, and in 2019 officially launched in New Jersey with a single store. The company currently operates in the U.S. specialty foods market, catering to the global $1.7 trillion industry that has yet to reach its full potential. Globally, there are more than 1.8 billion specialty consumers, yet no company has provided dedicated delivery and digitalization services except GoMeat. Over 90 precent of specialty stores do not have the resources to go digital. GoMeat brings these stores on board without any setup cost, thus enabling them to digitalize in order to increase their revenues and provide the convenience of ordering and home delivery to its consumers.
“As specialty consumers who travel frequently, GoMeat founders are no strangers to the hassle of finding verified specialty meat and the chaotic in-store process that it entails,” said Waqas Siddiqi, co-founder and CEO of GoMeat. “This new generation of specialty consumers demands convenience and authenticity and GoMeat plans on providing just that!”
Specialty consumers avoid non-specialty meats and foods to the extent that they will not eat any other type of meat unless it is certified by a verified specialty board. These consumers are willing to pay a premium price and businesses are well-aware of this, resulting in numerous cases of faulty specialty certifications. In the Western countries, demand for specialty meat has been steadily increasing, but the supply is scarce and spread out, which has led to a murky supply chain with no checks and balances. Specialty meat certification boards are also understaffed, underfunded, and lack the technological infrastructure to digitalize the certification process.
GoMeat’s in-app blockchain-based specialty certifications are the solution for a visible and traceable supply chain in the specialty industry. So, specialty customers can trace their food from the farm to the table and make educated choices about what they buy.
GoMeat (ticker name GOMT) is a deflationary token built upon Hydra Chain, with a limited supply of only 5 million and 1.75 million GOMT offered during the ICO. Each Tier sold out early and so the ICO was concluded two weeks earlier than expected. The final Tier closed with GOMT priced at $1.15 , and since then the community has been ecstatic about its launch on Hydra DEX.
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The GOMT utility token offers many users the opportunity to:
- Place meat, grocery & food orders on the GoMeat platform
- Get free delivery & discounts
- Get 1 percent cash back on all orders
For many investors, the highlight of GOMT is the excellent burn economy, some salient features of which include:
- 3 percent of GoMeat revenue will be burned starting with the quarter following ICO completion. As promised, 5658.613 GOMT were burned on 3 January 2022.
- 4 percent of the revenue in 2022 and 5 percent in 2023 will be burned quarterly
- Upon hitting $3 million in annualized gross volume, an additional 3 percent will be burned every quarter
- An additional 3 percent will be burned for every order paid using crypto
Funds raised from this ICO will solely be spent on the expansion and marketing of the services business. For the year 2022, GoMeat aims to hit the more than 2,500 store mark with more than 30,000 customers.
“We would like to congratulate GoMeat on their successful ICO,” said Florian Pfeiffer, CCO at Hydra Chain and LockTrip. “We are thrilled about the GOMT listing on Hydra DEX and eager to see their upcoming blockchain integrations which aim to digitalize the specialty meat industry.”
After much speculation, Hydra Chain launched its native DEX in August of 2021 after much anticipation. In line with Hydra’s revolutionary vision, Hydra DEX aims to be a game-changer. Some of its key features include:
DEX provides instant liquidity to all holders, as everyone can trade with the DEX pool at any moment (without relying on other traders)
- DEX makes up the core of one’s liquidity strategy. Future CEX listings will rely on the DEX pool as the source of their liquidity as well
- Permissionless trading environment. No need to go through KYC of centralized exchanges
- Transparent market behavior with 100% of the trading history being stored and viewable on-chain
- Impossible to manipulate prices on the DEX, since there is no order book, and any price movement comes at a proportional cost involved
- Arbitrage economy between the DEX and future CEX listings, growing volumes and generating passive income to the GOMT mother smart contract
- Exposure to other traders on the HYDRA ecosystem
Thus, it is no surprise that GoMeat’s listing on Hydra DEX has been warmly welcomed by the community as they finally have an avenue to buy more!
After the successful listing on Hydra DEX, GoMeat now has its sights set on BitMart CEX listing in the first half of 2022. Additionally, the team is prepared to kickstart marketing and promotions to introduce GoMeat token and services to a wider audience.
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