Backed platform Introduce Own Native Utility Token - CompanyCoins
Another type of resource available on the Backed platform is called CompanyCoins, and it can be purchased using the platform's own local coin, BKD. Once the underlying symbolic deal stage is completed, we hope to allow you to draw out your BKD and sell/trade it as you see fit by harvest time in 2022. As of today, the price of BKD will be predetermined on the trade, and we will use a nuclear trading instrument to guarantee that each BKD sold through our site is then repurchased from a trade. If this is the case, the demand will remain high, resulting in higher prices for everyone, including those who backed the project from the outset.
The BKD inventory is covered at 6 million tokens, which is typically considered to be inadequate. During the stage that is dedicated to the underlying symbolic deal, up to 5 million BKD tokens will be distributed in response to requests. The founding group will keep the remaining one million dollars and also use it for advertising purposes as part of their plans for the business. The starting cost will be 0.00001953125 Bitcoin. The value of one BKD, when compared to one BTC, will increase by a factor of two for every 500,000 tokens that are distributed. If we are successful in selling each of the 5 million tokens during the underlying symbolic trade, the price will be 512 times what was original.
By the fall of 2022, we hope to bring an end to the stage of underlying symbolic deals and dump BKD on at least one transaction, and maybe the flapjack trade as well. This will give you the ability to draw out your BKD and sell or trade it as you see fit. At this time, the price of BKD will be predetermined by request on the trade, and we will use a nuclear trade system to ensure that every BKD that is sold through our site is then repurchased from a trade. In the hypothetical scenario, this will maintain the demand strong, which will push up the cost and allow early financial backers to take advantage of the benefits.
CompanyCoin cost = coins available for usage x coins available for use x BKD cost x 0.003. When you make a profile for the first time, there are initially no coins present, and as a result, there is no cost associated with doing so. In order for you to acquire coins from the profile, it will gladly mint them and give them to you according to the pricing curve that is located above, which will cause the price to become progressively more expensive as further coins are purchased. On exchange for the coins, the BKD that was used to make the coin purchase will be "frozen" in the player's profile. On the other hand, if you want to sell coins, the profile will gladly purchase them from you using the BKD that was locked from previous purchases. This is shown by the bend in the profile. Therefore, buying results in the creation of coins while also driving up the value and allowing BKD to be added to the profile; selling results in the destruction of coins while also driving up the value and allowing BKD to be removed from the profile. This phenomenon is frequently referred to as a "mechanized market-creator," and a concept conceptually comparable to it is the driving force behind protocols such as Uniswap and Bancor.
What Exactly Are These "Company Coins"?
Every group that participates in Backed has its own coin. Each group that participates in the stage show is given its own currency, which can be traded by anyone. These currencies are referred to as "Company Coins," and you may effectively have your own coin by simply creating a profile on our platform. When individuals buy coins, the price of each coin goes up, but when individuals sell coins, the price of each coin goes down.
Simply navigate to the organization's profile and click the "Get" button in order to acquire the coin for that organization. You can access the profile of an organization by either searching for the organization or going to the competitor list on the Company Coin website. Moreover, selling your coins is similarly as simple. You don't have to worry about someone else getting them because the framework will repurchase them from you.
The Supply-Demand Profile of Company Coin
CompanyCoins are typically hard to come by. This is due to the fact that the cost of a CompanyCoin automatically increases at an ever-increasing rate the more people that buy the coin associated with a certain profile. This particular bend is referred to as a holding bend. The following is an equation, often known as a "bend," that can be used to determine the price of an organization's coin. The BKD utility token is used to conduct trades in CompanyCoins.
The uniqueness of Backed Coin
A coin has been assigned to each organization that uses Backed. Every organization that uses the platform receives its very own cryptocurrency, which can be traded by anyone. These digital assets are referred to as "CompanyCoins," and you may create your very own currency by creating a profile on our platform. When people buy more coins, the price of each coin goes up, but when people sell their coins, the price goes down. Simply navigate to the organization's profile and click the "Get" button to acquire the coin for that group. You can locate the profile of an organization by either searching for the organization in question or by going to the CompanyCoin list of rivals. Additionally, selling your coins is just as easy as buying them. You won't have to wait around for another person to obtain them because the framework will repurchase them from you.
Benefits of Companycoins
CompanyCoins are an additional type of resource class that is linked to the status of a company as well as the development of the BKD token.
They will allow you to speculate on the presentation of a startup even if you have not been invited to participate in their speculation round. Others might acquire additional CompanyCoins when a firm achieves success, receives more press coverage, and grows in notoriety. This would drive up the price of the cryptocurrency and, thus, the value of your property. Because the price of CompanyCoins is also tied to the price of BKD, the value of your holdings in both BKD and CompanyCoins will increase in proportion to the popularity of Backed and the rate at which the price of BKD is increasing.
Conclusions
A ten percent gratuity charge will be added to your total if you make a purchase of an organization's coin. This ten percent is paid directly to the group's bank account, and the organization gets to retain it all for itself. This helps them develop, which in turn contributes to the value of your coins increasing over time.
For More Information visit our website:
Website: https://backed.finance/
LINKEDIN: https://www.linkedin.com/company/backedteam/
TWITTER: https://twitter.com/BackedTeam
ANN THREAD: https://bitcointalk.org/index.php?topic=5403653.0
LITEPAPER: https://backed.finance/litepaper
OPEN APP: https://app.backed.finance/
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The BKD inventory is covered at a level of 6 million tokens, which is commonly seen as insufficient. In the stage that is devoted to the underlying symbolic agreement, there will be a distribution of up to 5 million BKD tokens in answer to requests. The founding group will keep the remaining one million dollars for themselves and will also put that money on advertising as part of their objectives for the company. The preliminary fee is going to be 0.00001953125 Bitcoin. If 500,000 tokens are released, then the value of one BKD will increase by a factor of two in comparison to the value of one BTC for every 500,000 tokens that are distributed. The price will be 512 times higher than it was initially if we are successful in selling each of the 5 million tokens that are being traded during the underlying symbolic deal.
6 million BKD tokens cover the current inventory, which is considered insufficient by most. Around 5 million BKD tokens are available for distribution during the stage that is centered around symbolic transactions. The remaining $1 million will be retained by the company's founding members, who aim to utilize it for advertising. There will be a cost of 0.00001953125 Bitcoin at the beginning. For every 500,000 tokens delivered, the value of one BKD will increase by two times when compared to the value of one BTC. In the underlying symbolic deal, the price will be 512 times higher if we are successful in selling each of the 5 million tokens.
The BKD stockpile is limited to 6 million tokens, which is considered insufficient. Up to 5 million BKD tokens will be allocated in response to requests during the stage dedicated to the underlying symbolic deal. The remaining one million dollars will be kept by the founding group and used for advertising as part of their business goals. The initial investment will be 0.00001953125 Bitcoin. When 500,000 tokens are released, the value of one BKD will grow by a factor of two when compared to one BTC. If we sell all 5 million tokens during the underlying symbolic exchange, the price will be 512 times what it was originally.