BitMart, a premier global digital asset trading platform, will list GoMeat(GOMT) on May 13, 2022. For all Bitmart users, the GOMT/USDT trading pair will be first published officially available for trading at 05:00 AM EDT.
What is GoMeat?
GoMeat is a blockchain based online ordering and delivery services catering to $1.8 trillion global (halal+ Kosher) market, already in operations since 2019 in United States with 900+ stores operating in 26 States with 10,000+ orders processed todate, generating a gross volume of $320K+ in 2021. They are solving a real-life problem of everyday consumers of halal and kosher, offering them traceability and transparency of the meat, food and groceries leveraging Hydra blockchain. They have already proved the concept and are in the process of expansion in the United States and globally as per their roadmap. GOMT is a utility token offering enormous value proposition to all their stakeholders, such as customers (convenience and reliability) stores (digitalization, increase in revenues and operational efficiencies) and token holders (Trade GOMT or use it on the GoMeat platform to avail discounts on their purchases)
GoMeat features
The growing global specialty food industry has led to a high demand for specialty Certification services by third party certification authorities. High demand for certification services in combination with a decentralized form of accreditation by Specialty Board and inability to support the specialty industry efficiently has shown cracks in the conventional specialty certification model, which has become costly, inefficient, fraudulent and risky. GoMeat phase 3 will introduce the following features:
– Digital specialty meat certifications, integration with specialty certification authorities to create blockchain based smart contracts to validate certification validity for the stores. The smart contract validated certificates will be available inside the apps under each store for the customers to view.
– Customers will receive full transparency about a store’s certification status
– Every step of the specialty meat supply chain will be tracked and documented on blockchain to provide full transparency and visibility about the animal’s origin, living conditions, health and slaughtering method.
GoMeat Blockchain Functions
GoMeat (GOMT) is a deflationary utility token with a limited supply of 5 million GOMT ever and about only 1.9 Million GOMT in circulation. GoMeat Blockchain application will be based on the Hydrachain platform and will perform the following functions:
– Collect all certificate information from Certificate data repository.
– Establish a secure connection Certificate data repository provider and update Certificate info frequently.
– Store all the retail owner’s information and certification info in our blockchain application.
– Create a blockchain API to connect with GoMeat marketplace and display smart certification in the app for customer view.
– Share public key with 3rd party and Retail owners for each independent certificate.
– Retail owner certification validation.
– Onboarded validation.
– Certification cancellation or suspension validation: Monitor and control.
– Certification renewal validation.
Deflationary Tokenomics
GoMeat Token has an elaborate burning mechanism, increasing the token value with each burn. Key features are as follows:
1.4% of the 2022 revenue is currently being burnt on a monthly basis (As of May 9, 16,378.473 GOMT have been burned already).
2.5% of the 2023 revenue will be burnt on a quarterly basis.
3.Burning rate from 2024 onwards will be decided based on revenue amount, quarterly financial reports will be released to keep the community updated.
4.Once GoMeat hits $3 million in gross volume, then an additional 3% GoMeat revenue will be burnt every quarter.
5.Additional tokens for burning will be bought from exchanges if needed
6.Additional 3% will be burnt for every order placed using GOMT.
About BitMart
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About GoMeat
GoMeat is a marketplace leveraging blockchain technology, connecting consumers with specialty retail meat stores that primarily offer fresh Halal and Kosher meat products such as red meat, poultry and seafood. Specialty meat is not available in traditional grocery stores in the US and other Western countries. It is only available in certified specialty retail stores. There are more than 10,000 halal meat stores in North America alone. Currently, the global halal and kosher market is estimated at over $1.8 trillion in 2022 and is expected to grow to $2.2 trillion by 2024. The halal food market in the US alone is estimated at over $32 Billion and is showing an aggressive annual growth. Over 90% of existing Halal and Kosher stores do not have an online presence, GoMeat extends their presence online by including options for electronic payments in usual fiat currencies. In addition, it will also provide small-scale store owners with the mechanism and tools to deliver their meat products to consumer’s doorsteps. To learn more about GoMeat, please visit their Website, follow their Twitter and join their Telegram
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