Golden Fleece is a Georgian cryptocurrency mining company based in Tblisi, Georgia.
The Golden Fleece project envisions building a cryptocurrency mining datacenter on the land of Colchis, at the Black Sea coast in Georgia using green energy generated from hydropower plants. The mining facilities are being developed based on funds raised through crowdfunding and GFL token sales. Total target investment volume is set to be USD 40,000,000 for 20 MW electricity capacity for the mining datacenter.Golden Fleece datacenters will use different types of equipment for mining cryptocurrencies.
GFL team developed innovative, naturally self-cooling HDMU [High Density Mining Unit] and operates it in Kutaisi Free Industrial Zone.
First HDMU is consuming 350 KW electricity and accommodates up to 250 Antminers. GFL has installed capacity of 1000 KW electricity in a tax free zone and has access to up to 40 MW green energy. Company financials will be audited on a quarterly basis. All financial statements and wallets will be published on the GFL website!
GFL ICO started on 15 August 2017 and finished on 31 October 2017.
GFL sales continue through exchange markets and direct sales from the GFL website (expected to be launched in II Q 2018).
Golden Fleece Tokens (GFL)
500,000,000 Golden Fleece tokens (GFL) issued on Ethereum (ERC20), no mining or further issuance available.
GFL Buy Back model
The buyback was triggered by requests coming from the GFL Community.
GFL will repurchase tokens at the market price on Yobit exchange in GFL-BTC pair at following link https://yobit.io/en/trade/GFL/BTC
Any change in the exchange market where GFL will buy back its token will be announced on the GFL website www.goldenfleece.co and social media channels used by the token.
GFL allocates 30 percent of its mining profit for buyback of its tokens and 10 percent from its colocation (third party miners hosting) service. Buyback budget is set in BTC and will be filled up on every last Friday of a month starting from February 2018. GFL tokens will be repurchased in every first week of following month. Repurchased tokens will be destroyed and will not get back to circulation.