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CEO & CTO
15 years of experience in programming, B.E. in software from Shanghai Jiaotong University, Architect of Seachange, Chief Architect of Yiji Pay, Co-founder and CTO of Taogushen.com, Founder of Conch Chain.
10 years of experience in management, operating and entrepreneurship, B.E. from Tsinghua University, M.S. in Columbia University, General Manager of Egholm Maskiner (China), Co-founder and COO of Taogushen.com.
What is Galaxy eSolutions (GES) all about?
Galaxy eSolutions Limited is a Global eCommerce for refurbished and pre-owned smartphones and other consumer electronics, with marketplaces to buy and trade-in goods.
We source. We refurbish. We distribute.
The entire business operation is handled by us, including the process of refurbishing where our technicians in our factory in Shenzhen, China, follow our quality protocol to ensure refurbishment is to a top standard.
Based in Hong Kong, we operate in over 26 countries. By positioning as a ‘Green’ company, we directly appeal to the environmentally-aware consumers.
To find out more look at our Whitepaper.
What are GES tokens?
GES tokens are a form of utility tokens made for the GES Initial Coin Offering (ICO), also called Crowdsale, and in order to purchase them Ethers are needed. Ethers are the cryptocurrency from the Ethereum network. The tokens can then be used in exchange for Ethers or to buy products from our current e-commerce site NDBD and our new GES site in the future.
How is GES different?
We are to incorporate the Blockchain platform onto one of our marketplaces MobileFreak, where consumers and businesses can trade-in their phones with other businesses. It will be a direct P2P type model and ecosystem. The blockchain technology will also help to easily and quickly record details of the goods, transactions, and logistics of both sides.
This could resolve trust and credibility issues between both parties, such as supplier quality, product grading and quality standards, the Mobile serial number to ensure authentic and not fake or stolen goods, and payment of the goods and services.
Where and How do I buy tokens?
You buy GES tokens from the GES ICO/Crowdsale.
Then enter details of the transaction of tokens, such as the amount you want to purchase and when prompted your public-address, from there the transaction will take place.
Look below for a step-by-step process of “How to buy GES tokens.”
The transaction of the GES tokens and ethers will take place on the blockchain platform where they will be secure.
Do I use Bitcoin or Ethereum to purchase tokens?
The cryptocurrency by Ethereum is called Ethers (“ETH”) and it is the only way of payment for GES tokens. You cannot use Bitcoin to make a purchase of GES tokens.
You can use Shapeshift service to convert your Bitcoins to Ethereum and then use it to buy GES tokens.
Can I buy GES token with USD, Euro, GBP or RMB?
No, you cannot directly buy GES tokens with traditional (fiat) currency like USD, Euros, RMB or GBP. You need to use the cryptocurrency Ethers to purchase GES tokens, and to buy the cryptocurrency, yes, you can use traditional currency. You need to buy Ethers from an exchange like Coinbase, Kraken or Gemini.
Important Note: Please do not send Ethers from exchange accounts as you will not receive GES back to your account. Please transfer fund from exchange to personal wallet like Ethereum or MyEtherWallet and then buy GES tokens.
How many tokens will be created and sold?
How many tokens will be created and sold? There will be a maximum of 300,000,000 GES tokens based on the hard/maximum cap of 20,000 ETH. The tokens are manufactured based on the amount of ETH raised. So if the raised is less there eventually will be equivalent less number of tokens created.
The company manufactures an additional 11% of total tokens.
Is there a limit to how many tokens can one purchase?
No, you can purchase as many utility tokens based on their availability at that time.
Will I receive my tokens after the transaction is successful?
Yes, as soon as your transaction is picked out of the pool by miners, declared valid and put into a block and then added to a blockchain; that will mean that it is successful and you will receive them into your wallet. The process may take a while, so please wait patiently.
***Important: DO NOT BUY GES TOKENS WITH EXCHANGE WALLET
Do not use any wallet of your exchange account or generated by your exchange account such as:
What is a token sale?
Token sale is another term for ICO, as such that the digital crypto-asset created in order to sell is called a “token”.
How does this ICO work?
The GES tokens system is built on the Ethereum network using the blockchain technology, so every transaction is encrypted and secure. It operates as an open source ledger, whereby anyone interested can participate and trade.
You will need to exchange your fiat currency such as USD, RMB or Euro into Ethers. With Ethers you can purchase GES tokens. For 1 Ether we offer 10,000 GES token.
What is a Ethereum Network?
Ethereum network is based on Blockchain technology that can be used to make smart contracts or exchange in value using the Ether tokens. It is a separate cryptocurrency from Bitcoin. For more details refer to http://ethereum.org.
What is Blockchain technology?
It is a decentralized storage of transactional data in multiple nodes which make up a block and then added to other blocks that essentially create a “blockchain”. It is made up of distributed ledger, that happens step-by-step, between two parties who want to make a transaction.
As normal transactions, each participant have their own ledgers to look at and be responsible for, in blockchain all the parties involved are looking at the same ledger. Therefore, no errors, frauds or inefficiencies.
The data that is admitted into the blockchain cannot thereafter be altered.
How does the blockchain technology platform work?
Blockchain is made up of several blocks that are added next to each other filled with several transactional data each. The flow of the blockchain is:
The transaction details are filled by the funder and sent.It goes to a pool of other transactions by other people.It gets picked by miner/miners and then they use complicated equations to see if it is valid.If it is declared valid then it gets added to block.The block is then added to the chain of others where thereafter cannot be altered in any way.
What will I get from participating this ICO?
Our GES tokens are a form of utility, where they can be used on our marketplaces to buy our electronic products. Essentially, you can’t make a loss with us and value of the token is backed up.
Moreover, we will give occasional promotional offers exclusively for our token holders. We also have a commitment that we will buy back the tokens with 20% of Quarterly Profits and will continue for up to 15 years.
GES will burn at least 50% of the bought back tokens, so that the token supply will be reduced and when profits increase, holders will be remunerated greatly.
How will I know if my transaction of the tokens was successful?
You can check your transaction reference (hash) on https://etherscan.io/ to check if it’s the same. Once it is approved and mined successfully the tokens will be automatically added to your wallet address.
Where will the token sale be available?
The token being an utility tokens are allowed in major legislations of the world [except China*]. We still prefer you to consult your lawyer before contributing to our project.
Due to strict and uncertain legislation GES tokens will be unavailable to people living or participating in the USA / Hong Kong & China.
Are buying and selling cryptocurrencies legal?
Yes, as most cryptocurrencies are based on decentralized platforms there aren’t many legislations in place to “ban” cryptocurrencies. However, legislations like that differ from country to country, even within a country the states may have different enforcements regarding these digital currencies.
To find out more you can use this article.
Can I convert GES tokens to fiat (traditional) currency?
No, you cannot convert GES tokens to traditional currency from Galaxy eSolutions, you can only do that with Ethers from cryptocurrency exchanges. However, you will be able to trade GES tokens to Ethers or other currency after one month of the token sale completion.
This, however, will depend on the exchange you are trading the GES tokens on. Please get in touch with your exchange to see the services they provide.
When will this ICO end?
This ICO starts on 28th February 2018 and will end on 31st March 2018, or alternatively if the targeted amount is reached before the end date.
How do I know if this ICO is real and not a scam?
Since the evolution and hype of Bitcoins, Ethereum and other cryptocurrencies, there has also been a rise in digital scammers.
We will never ask for your private key to make transactions. So beware of such scams. You can securely check the websites online or look at reviews given to them by other people. You can also look up our company registration and our websites where we sell our refurbished and pre-owned (non-refurbished) products: NDBD and MINT (Currently only available in Australia. Updating to other countries soon).
Please take time and carefully read our Terms and Conditions, in compliance with Hong Kong Legislation.
What is a Wallet?
Wallets give a public address to access personal cryptocurrency account and information and gives a private key to use for transactions.
Four types of wallets:
-The web wallet is online that can be used instantly to make transactions.
-The software wallet is downloaded onto a computer and to open it requires a Bitcoin blockchain as a file onto the same computer. Mobile wallets through an app.
-Paper wallet that has two QR codes.
-Hardware wallet where bitcoin information can be stored onto physical devices. -
Do I need to use a wallet or can I send directly from an exchange?
You need to use a wallet to purchase GES tokens, but you need Ethers to do that. So, you need an exchange to buy Ethers to perform the transaction between Ethers and GES tokens.
Here is an article that shows the difference between a wallet and an exchange:
What is a public-address key and a private key?
A public-address key is the key that holds your account information and you use it to open your wallet in order to make payments. So, it is more like your credit/debit card number.
A Private key is the key you use to actually make payments/transactions. It is a code that accesses your funds. Similar to the pin you have for your card. You can also add a password, that will further give your security as such that for your private key (pin) you have a password.
Why is my transaction not going through?
Transactions operating on the blockchain platform require a group of miners to reach to a consensus of confirming each transaction, so it can be a while for the transaction to go through to a blockchain. But blockchains can become busy during a token sale period so it can take quite a while for miners to choose your transaction from the pool where all un-mined transaction lay after submitting the details through. But if you put enough fees (gas) on your transaction it will sway miners to choose yours first.Please use the minimum gas mentioned in the GAS section to avoid transaction failure.
Look below for more details on ‘Gas’.
Will I be charged any transaction fees?
Yes, you will be charged a fee of making the transaction (called gas, see below for more details). You have to pay it regardless of your transaction succeeding or failing, because miners have to mine each transaction that comes through. However, this is the only fees that you will be paying extra for. Please use the minimum gas mentioned in the GAS section to avoid transaction failure.
Why do I have to pay transaction fees?
You have to pay a certain amount of transaction fees to that will cover the cost of actually sending it through and to give miners their commission. But the amount you pay will also determine the status of your transaction, in terms of the successful or failed transaction.
What is Gas?
Gas is the payment for any transactions sent on the blockchain. It is paid in ETH (Ethers). The transaction cost is worked out by equation below:
Gas Limit x Gas Price
Ethereum transaction fee is 20 GWEI (0.00000002 ETH) per gas (unit).
So, 21000 units at 20 GWEI = 0.00042 ETH (21000 is the gas limit for general transactions, and you pay in ethers).
The Gas limit is the maximum amount of gas you agree on spending on the transaction, and the units of gas are decided based on the code that is permitted on the blockchain.
You need to pay enough gas limit, because it covers the cost of the transaction and miners who mine it, otherwise your transaction will fail and be classed due to ‘Out of Gas’.
Also, the amount you pay determines the speed of your transaction being mined and put on a blockchain. It actually puts you first in line.
You can use this link to see what the miners are mining, and to set a gas limit that will put you ahead of others in the mining line.
*Important* How much GAS do I need to pay to buy the GES token?
You have to pay 100200 GAS for the transaction to buy the tokens.
Less gas can lead to failure of transaction not being processed entirely or fail in multiple ways. Less gas will essentially be consumed by miners with no productive output essentially leading to lose your GAS amount. In case of failed transaction the amount will be returned to your account without the GAS amount.
When can I start trading GES tokens?
GES tokens will be locked for one month from the end of ICO on the 31st March 2018, or for one month from the actual completion date of the ICO. After this period, they will open for trading.
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