GoMeat is a cryptocurrency that operates on a blockchain platform and specializes in online ordering and delivery services for the global halal and kosher market, which is valued at $1.8 trillion. It has been in operation since 2019 in the United States, with over 900 stores in 26 states fulfilling more than 10,000 orders to date, resulting in a gross volume of $320,000+ in 2021. GoMeat aims to address the real-life problem faced by consumers of halal and kosher products by offering traceability and transparency through the use of Hydra blockchain technology. The company has already proven its concept and is currently in the process of expanding both in the United States and globally.
GOMT, the utility token associated with GoMeat, provides significant benefits to its stakeholders. Customers can enjoy convenience and reliability, while stores can benefit from digitalization, increased revenues, and improved operational efficiencies. Token holders are able to trade GOMT or use it on the GoMeat platform to receive discounts on their purchases.
The GoMeat Token has a deflationary system in place, where a percentage of the revenue generated each year is burned, thereby increasing the value of the token. The burning rate is set at 4% of the 2022 revenue on a monthly basis, with 5% of the 2023 revenue planned to be burned quarterly. The rate of burning from 2024 onwards will be determined based on the amount of revenue generated, and regular financial reports will be issued to keep the community informed. Additionally, once GoMeat reaches a gross volume of $3 million, an additional 3% of the revenue will be burned every quarter. If necessary, additional tokens will be bought from exchanges for burning purposes, and a further 3% will be burned for each order placed using GOMT.
GoMeat operates on the Hydra chain platform and offers various blockchain functions, including collecting certificate information from a repository, maintaining a secure connection with certificate data providers, storing retail owner and certification information, and creating a blockchain API to connect with the GoMeat marketplace. The platform also supports validation and monitoring of certification processes, including validation of retail owner certifications, onboarding validation, certification cancellation or suspension validation, and certification renewal validation.
In response to the growing demand for specialty certification services in the global specialty food industry, GoMeat plans to introduce digital specialty meat certifications in its phase 3. This will involve integrating with specialty certification authorities to create blockchain-based smart contracts that validate certification validity for stores. These smart contract-validated certificates will be available within the GoMeat app for customers to view. Stores and certification authorities will also receive notifications when a certificate is close to expiration. Furthermore, customers will have full transparency regarding a store's certification status, and the entire specialty meat supply chain will be tracked and documented on the blockchain to provide visibility into the animal's origin, living conditions, health, and slaughtering method.
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