Dear community, today we want to repost our up to date tokenomy manifesto from the banned blog at medium as well as emphasize once again team vision of the BCShop.io platform development.
Firstly, we’d like to explain the fundamental logic behind the decisions that we make:
The team is oriented for long-term development and project success.
The team wants the token value to be based more on actual product that is being built and less on speculation.
Long-term development of the project must be reliably secured.
The community is very important and the team will stay as open and responsive as possible.
Investors success and project success is very correlative, both are tied to BCS token market success over long run.
Based on the logic described above the following token supply (10 m total) distribution is going to be used:
15% team pool (1.5 m). The tokens are already locked on a smart-contract level* for 8 years 4 month with unlock schedule of 1% per month starting Feb 2018.
2% reserve pool (200 k). This pool is for implementing Bancor protocol to enable 0% fee exchange for different tokens and ETH in Bancor ecosystem. This will never go to market.
4% advisors pool (400 k). This pool is for advisors compensation. 0.25% was already spent, 0.5% will be spent coming weeks and 3.25% are for long term cooperation.
12% partners pool (1.2 m). This pool is locked and will be used at later stages for stimulating the platform adoption. More about partner program: https://goo.gl/FMijBr.
Presale and bounty pools have not been used almost completely and are transferred to airdrop pool (see below).
47% long term development pool (4.7 m). This pool is to secure company growth in coming years. ~6.5% of this pool (~320 k) was sold at token presale and token sale stages for 2092 ETH. Other funds are locked in a smart-contract level* for 4 years with the following unlock schedule:
Jan 2019: 10% (470 k).
Jan 2020: 20% (940 k).
Jan 2021: 30% (1 410 k).
Jan 2022: ~32.5% (~1 500k).
The usage of long term development fund is described below.
20% community growth pool (2 m). This pool will be used to grow project's community and stimulate token usage. More on the pool usage is described below.
This pool is to secure the ability to finance the company development in coming years. As you may know, 80% of the platform’s profits go to community in form of discounts, so the company will be needing funds to scale the business. Each pool’s token release is:
Tied to particular milestone which is publicly announced.
The form of selling tokens and the amount is publicly announced at least 30 days before the event.
All company gains and expenses are posted in progress report periodically in company official blog.
Community Growth Pool
This pool is to be freely distributed among community (airdropped) in several stages during project development. Each airdrop is:
Announced publicly at least 30 days before the event.
Is tied to positive events to decline price drop after airdrop is finished.
Is distributed free of charge to BCS token holders.
Team tokens and tokens from other company token pools are not targeted.
Correctly understanding token supplies and rules for determining market capitalization may be of great importance for current and future token holders. Thus, we want to provide two answers from coinmarketcap.com FAQ which clearly specify this important token metrics.
What is the difference between "Circulating Supply", "Total Supply", and "Max Supply"?
Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public's hands.
Total Supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned).
Max Supply is the best approximation of the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency.
Why is the Circulating Supply used in determining the market capitalization instead of Total Supply?
We've found that Circulating Supply is a much better metric for determining the market capitalization. Coins that are locked, reserved, or not able to be sold on the public market are coins that can't affect the price and thus should not be allowed to affect the market capitalization as well. The method of using the Circulating Supply is analogous to the method of using public float for determining the market capitalization of companies in traditional investing.
About BCShop.io
BCShop.io project aims to reinvent the way digital commerce and payments work today. Focusing on digital goods and services area project’s goal is to enhance it with fast-growing opportunities blockchain technologies and cryptocurrencies have to offer. In January 2018 BCShop.io hit hard cap of 2000 ETH at its token sale.
Website: https://bcshop.io/
Twitter https://twitter.com/BCShop_io
Telegram https://t.me/bcshopio
Facebook https://www.facebook.com/BCShop.io/
Business Inquiries [email protected]
