Frequently Asked Questions
There is a long process that an emerald goes through the value chain, from its discovery in Colombian mines to the final holder, which derives in several problems for both the investors and the producers, as specified below:
Problems on the Investor’s Side:
- High prices.
- Investing in emeralds can be complicated and risky without an adequate knowledge about them.
- Partial and small investments are not possible.
- Lack of trust on the emeralds origin.
Problems on the Producer’s Side:
- Receive less than 35% of the final customer retail price due to many intermediaries.
- Difficulty to expand to new markets.
- What is the problem GEMERA intends to solve with its project?
GEMERA is made up of a group of entrepreneurs and reputable emerald producers who work together to drive innovation in the Colombian emerald industry.
The project provides a crypto-token backed by Colombian emeralds that applies blockchain technology to create tokens that can be used for investors as a store of value or as a tradeable digital asset.
GEMERA is also compromised on the development of social and environmental projects carried out in the emerald extraction process and in the communities around the mines.
- What is GEMERA Project?
GEMERA is a crypto-token backed by Colombian emeralds. It can be used as a store of value, be transferred among digital wallets, converted into other crypto-tokens, cryptocurrencies or fiat currencies, or redeemed for physical emeralds.
- What are GEMERA tokens?
It is the ticker symbol that represents the GEMERA tokens.
- What is GEMA?
- GEMERA is one step ahead of the new tendency of tokenization of assets, as it is a project that provides a token backed by a scarce and a desired asset, that can also be used for trading and that can be redeemed for the very emeralds they represent. Also, the whole project will transform the distribution chain of emeralds, connecting producers and end customers, through a crypto-token that can be traded or used as a store of value.
- Why is GEMERA a revolutionary project?
Through the tokenization of emeralds, GEMERA wants to help the market expand significantly, and increase the demand worldwide, making it a more democratic, transparent and accessible investment. However, as the supply of emeralds is limited, their price is expected to rise.
Also, as part of the philosophy and purpose of GEMERA is to carry out social and environmental initiatives with part of the project funds, investors will have the opportunity to indirectly contribute to the sustainable development of the communities near the emerald mines.
- Why should an investor consider participating in GEMERA?
- GEMERAs can be converted into fiat or cryptocurrencies in exchanges (this option is not available in the early stage of the GEMERA Project, and its success depends on the integration with exchanges).
- GEMERAs can be transferred to compatible wallets instantly.
- GEMERAs can be redeemed for emeralds.
- How can GEMERA tokens be used?
- A Token Generation Event (TGE) is open during a period, where an amount of GEMERAs is offered and ready to be acquired by investors. Once the TGE closes, the project starts a process of selection, certification, assessment, transport and storage of emeralds to back the sold tokens. The selected emeralds are then exposed onto GEMERA´s marketplace www.gemera.io. The total value of the emeralds will be coincident with the value of the issued tokens.
- What is a Token Generation Event (TGE)?
GEMERA project takes approximately three months after every TGE ends to store the emeralds that back the tokens in a security vault of a safe deposit box company.
- How long does GEMERA take to store the emeralds that back the tokens?
- The GEMERA tokens have to be acquired with Ether (ETH), the Ethereum cryptocurrency, following the instructions on www.gemera.io
- How can I acquire GEMERAs in a TGE period?
- The bonuses of the TGE periods will be determined beforehand and announced in advance.
- What is the bonus granted to investors in the TGE periods?
- 0,01 ethers
- What is the minimum amount I can invest in a GEMERA TGE?
- Yes. It corresponds to the ‘gas consumption’ of the Ethereum network. This fee is dynamic and generally low.
- Are there network fees when acquiring GEMERA Tokens?
- GEMERAs can be acquired in compatible exchanges. However, this option is not available in the early stage of GEMERA. The project will be listed on exchanges by Q4 2018.
- How can I acquire GEMERAs when a TGE is not available?
- No. Do not send Ether from an exchange to participate in a TGE. If you send Ether to the GEMERA TGE Contract address from an exchange account, your GEMERA tokens will be allocated to the exchange's Ethereum account, and you may never receive or be able to recover your GEMERA tokens.
- Can I send Ether to a TGE ETH address from an exchange?
- They are contracts whose terms, agreements and conditions between two parties are written in code, which is hosted in a decentralized blockchain system, without the need of an intermediary. Thanks to smart contracts, transactions are traceable, transparent and irreversible.
- What is a smart contract?
- Ethereum is one of the most used, established, safe and proven decentralized platforms for smart contracts, which uses blockchain technology.
- What is Ethereum?
- GEMERA Project does not hold the private keys. They are allocated in GEMERA holder’s compatible digital wallet, who must make sure to keep the keys in a secure place. The loss of the private keys will cause the holder not to be capable of having access to the GEMERAS or making any transactions with them. In such case GEMERA Project will not be able to recover the tokens
- What happens if I lose the private keys of my compatible wallet?
GEMERA Project has tested Metamask and Ethereum Wallet, and they work properly; so, it is recommended to use these wallets to acquire GEMERA tokens during a TGE period.
To be compatible, a wallet must meet the following criteria:
- Able to export your private key.
- Able to call arbitrary contract methods.
- What wallets can I use to send Ether to acquire GEMERAs during a TGE period?
Do not use an incompatible wallet.
There are many incompatible wallets. Please check to make sure that your wallet meets the compatible wallet criteria before sending any Ether. The following wallets are known to be incompatible wallets but this is not a complete list. Do not use any of the following wallets to participate in the GEMERA TGE:
Any Bitcoin exchange,
Any Ethereum exchange,
- What wallets are incompatible to acquire GEMERAs in a TGE period?
- Emeralds will be stored in security vaults of safe deposit box companies that meet the security standards of storing this type of asset. The first batch of these stones is stored in secure vaults of a safe deposit box company in Hong Kong.
- Where are the emeralds stored?
The emeralds can be delivered to the country of residence of the investor or can be collected directly at the place where the gemstones are stored.
- How to redeem GEMERA's for emeralds?
- No. GEMERA tokens are exclusively linked to emeralds.
- Can GEMERA tokens be backed by other gemstones?
It is a website (market.gemera.io) with the information of each one of the emeralds stored in a safety vault of safe deposit box companies worldwide and ready to be redeemed with GEMERAs. The information of the emeralds includes name, characteristics, price in GEMERAs, and certification, as well as a 360° video, and photographs from different angles.
- What is the marketplace?
Several redemption periods will take place throughout the year. Their dates will be announced in advance.
- How often can I redeem GEMERAs for physical emeralds?
GEMERA has along with gemologists and experts in fine Colombian emeralds developed an Emerald Assessment Process, a model that considers color, clarity, carat, enhancement, weight and cut to determine the quality of the emeralds and set up the price.
- How is the value of the emeralds in GEMERAs determined?
GEMERA Project will place a special office in Hong Kong where GEMERA holders who want to redeem their tokens can recollect their emeralds, during the redemption periods.
- Can I collect the emeralds directly in Hong Kong?
No. Whenever the GEMERA holders want to redeem their tokens for emeralds, they can visit the marketplace (market.gemera.io) to find the gemstone/s they want to acquire in accordance to the number of GEMERAs they would like to redeem.
- Are my GEMERA tokens directly linked to a specific emerald?
Colombian emeralds are the most desired emeralds in the market, due to their unique characteristics; so it is a valuable asset to back GEMERA tokens.
- Why choosing Colombian emeralds to back GEMERA tokens?
The GEMERA Project focuses on the transparency of the process throughout its value chain: the selection of the emeralds, the certification every stone must have, the storage, how the emeralds quality and its value in GEMERA tokens are determined, and how the holders can redeem them, among other aspects of equal importance. Therefore, each emerald is exhibited in GEMERA Project’s marketplace (market.gemera.io), along with the name of the safe deposit box company it is stored at. An audit process will take place to guarantee the existence, origin, and characteristics of the emerald.
- How can I be sure the emeralds are stored in a safe deposit box company?