GPT Staking Is Officially Launched!

2 min readDec 9, 2020

Today, a new major milestone is opening for ECOC. We’re delighted to introduce GPT Staking — a way to derive profit for all EFG holders! The staking will be available on EFG dApp website 5 PM(China time) onwards!

What is GPT Token?

GPT (Grace Period Token) is a token used to delay the settlement of mortgage assets. It can also be mined by using EFG mortgages that comply with the ECRC-20 standard. GPT is designed through the ECRC-20 standard smart contract and provides a total of 10,000 tokens. It has become the main factor in the protection of investors’ risk extension benefits in EFG’s lending behavior.

How do I start staking GPT?

To start staking GPT, you must deposit ECOC first as a collateral to borrow EFG. The system will calculate the amount of EFG you can borrow according to your collateral. Then you can start staking EFG and the system will be rewarded you in GPT token!

1. Go to EFG dApp website.

2. Create or connect your ECOC wallet to the dApp.

3. Deposit EFG to the dApp wallet.

4. Click “Staking” and input the amount of EFG you wish to stake.

5. Click “Deposit” (waiting time based on block confirmation).

6. Upon successful deposit, EFG will be reflected under “Staking List”

7. Your staked reward (GPT) will be appeared on the right-hand side.

8. Congratulations! You have just started staking GPT.

When will I get rewarded?

We grant you the rewards every day — the longer you stake EFG, the more GPT you will receive!

Good luck and stake your EFG Token now!

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