BUILDTEAM Tokens now trading on Steem Engine

in buildteam •  2 months ago 



The BUILDTEAM token is how BuildTeam pays developers, translators, and everyone else who contributes to our projects. While it's possible to trade the token, staking it provides you with a passive STEEM income on a bi-weekly basis.

Until now, the BUILDTEAM token has only been tradeable and able to be staked on BitShares. But as a team that's focused on the Steem blockchain, we decided that there should be the option to do the same on Steem Engine.

Because of this, we've worked on a BitShares/Steem Engine gateway which now allows you to convert BUILDTEAM tokens back and forth between the two.

How can I buy BUILDTEAM Tokens on Steem Engine?

If you want to buy BUILDTEAM tokens with STEEM, you can do so via the Steem Engine market, the same way you would buy any other token available there.

You can easily see what the current supply and demand for the token is, including the 24h trading volume.



How does a conversion work?

To convert BUILDTEAM tokens from BitShares to Steem Engine, you will have to send them to the buildteam.gate account first.

Simply enter the amount of BUILDTEAM tokens you'd like to transfer, and include the Steem username of the account you want to transfer the tokens to in the memo.



To convert BUILDTEAM tokens from Steem Engine to BitShares, you have the choice between using Steem Engine directly, or using Steem Keychain.

Simply send the BUILDTEAM tokens to buildteam.gate and include the BitShares username of the account you want to transfer the tokens to in the memo.

Steem Engine:





Steem Keychain:




Things to keep in mind

  • While Steem blockchain transactions only take 3 seconds, our gateway might need a maximum of 10 minutes to process your transaction. It's likely to happen faster, but please keep that possibility in mind.

    If the transaction takes longer than 10 minutes, or if you forgot to include the memo/entered an incorrect memo, please contact our customer support on Discord! At this point in time, we can only do manual refunds, but are working on an automatic refund feature for the future.

  • Please note that, as is the case on every exchange, transfers to the wrong account cannot be refunded. Double check before clicking "send" that all information you entered is correct.

  • The minimum amount that can be transferred is 1 BUILDTEAM token. If you send less, your transaction will not be processed.

    Instead, the gateway will accumulate transactions smaller than 1 BUILDTEAM token and will send the combined amount to the destination account once the minimum threshhold is reached. Your tokens will not be lost!

  • BitShares has transaction fees which you will have to pay if you send from BitShares to Steem Engine. The gateway itself does not have fees, so if you send 1 BUILDTEAM token, you will receive 1 BUILDTEAM token on Steem Engine.

    It's a little bit different if you send it the other way, because then the gateway will have to pay the fee. In that case, the transaction fee will be subtracted from your transaction amount. The fee depends on what the current BitShares network fees are, but is typically close to 0.5 BUILDTEAM tokens.
    As a result, you will receive a little bit less on the BitShares side than you sent via Steem Engine.

  • The staking process is not changed for the moment. Staking can only be done on BitShares, but we're working on a staking option on Steem Engine. Right now, there is no timeline for when this feature will be available, but we will keep you updated!



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Dear @buildteam

Thank you for providing me with link to this old publication with me.

Would you mind sharing with me if buildteam token supply is fixed or will it be growing?

I'm just learning about your project and Im trying to figure out what would be utility, where demand would be coming from, where selling pressure would come from too. What's the supply etc. Need to figure out inflation to at least roughly understand your business model.

Yours
Piotr

Hi, our token has a 1 million total hard cap is distributed to developers at a max rate of 5000 tokens per month. We don’t always distribute the full 5000, and the distributed portion is normall 80% staked depending on the choice of the recipient, 25% staking is mandatory.

Staking gives the holder a share of BuildTeam project nett revenues, projects such as @dlease, @tokenbb @steemvoter, historically it has shown that by staking the tokens you can earn up to 60% ROI in Steem nett revenues.

I hope this helps, any questions feel free to let me know.

Dear @@@thecryptodrive

Thank you for your prompt reply @thecryptodrive and for sharing more details about your project with me.

I just checked steem-engine market and 5000 buildtokens per month would be worth quite a lot. Would you expect that price of token would maintain it's current level? I mean, 5k x few users ... that's a lot of selling pressure.

I hope you don't mind all those questions. Just one more: does steem-engine allow to create token, reward investors/developers with those tokens and "freeze" them? Meaning: none of those people would be able to sell them for 1 year or so. Any idea? I tried to find such a functionality but I couldn't.

Are you also planning to launch your own tribe and set up your own "steemit.com-like" front-end?

Yours
Piotr

Not all tokens hit the market, so 5000 is the max that we can distribute per month. On some months developers don't hit their development targets or team members have been away on leave or whatever, so for example last month we distributed less than 3800 coin in total. Remember some of that is autostaked, 25% staking is mandatory but most of our team stakes an average of 80% which means last month only around760 new coin hit the liquid market.

No I don't think Steem Engine has freezing features at this point, might be a good idea to ask them direct.

We already have tribes planned but for our sports platform Bitsports, we have already created the forum https://forum.bitsports.io and will in the near future launch the blog and tube as well. The BITSPORTS (BSP) coin is also listed on Steem Engine but not yet activated.

Profits from the Bitsports project will flow to BuildTeam and increase its value.

Oh, my mistake @thecryptodrive

I thought that 5000 tokens per each developer per month will be distributed. My bad. Thank you for your clarification. Appreciate it.

I hope this helps, any questions feel free to let me know.

It did. You're doing such a great job with your replies.

Yours, Piotr

Es una excelente noticia, buena vibra para todo el equipo y felicitaciones por esta gran paso.

Posted using Partiko Android

would be cool if you could just use the steem-engine stake function... :)

The Steem Engine staking function sadly doesn't fulfill our current needs in regards to staking, but we're working on a solution! :)

Also reicht es aus, die Token einfach nur zu besitzen um Zahlungen zu erhalten?

Nein, du musst sie auf Bitshares staken. Sobald das erledigt ist bekommst du automatisch einen Teil des Profits alle 2 Wochen in STEEM.
Die staking Funktion ist nur leider noch nicht für Steem Engine verfügbar, weil unsere staking Regeln nicht anwendbar sind.

awesome! :)

just a few small questions:

  • Are the BTS-Buildteam and SteemP-Buildteam linked in any way? or are they totally different markets (with possible arbitrage possiblilities)
  • Is buildteam providing some of the liquidity on Steemengine or is that just the users.
  • Will the buybacks happen on Bitshares alone or on both exchanges?

by the way, I am a big Builteam fan and like the cool passive income you provide twice per month. Have been steadily accumulating for a long time now

The markets are completely user driven as Buildteam itself does not sell tokens. Some of the liquidity cones from our internal team funds while doing first testing to ensure no problems arise. Arbitrage is possible and encouraged. So far buybacks happen on bitshares, we will announce should we change that.

See this as a first step into expanding our token reach :)

Nice, the Buildteam Token has been a great success so far I'm glad that you took it to Steem Engine DEX.

We always aim for maximal accessibility and community involvement!

Well done, this is the right decision for you and for Steem, it will make it way easier for many more people to participate, stay awesome.

Thank you for this nice words! Everything that helps to engage people more is good for the community.

👍😀

Greetings, buildteam

Excelente news. I buyed 8 buildteam token now at steem-engine

Lets see how it works

thank you

Glad to see you putting your trust in us!

Remember that, if you want the payout every two weeks, you will have to stake the tokens on BitShares.

How can i do it??? If i stake on steem- engine it works???
And, with 8 buildteam tokens, how much steem i will receive more or less??

thank you a lot for help

No, staking the BUILDTEAM token on Steem Engine doesn't work yet. You'll have to transfer it to your BitShares account as explained above.

For an explanation on how to stake it, please check out our website: https://buildteam.io/tokens.php

ok ok. 1 more question

how much steem i will win with 8 buildteam tokens staked?? More or less....

That highly depends on how much profit BuildTeam has made in the last two weeks.

The STEEM payout is a part of the profit, which is split between all people who have staked BUILDTEAM tokens. When there is more profit, you will receive more STEEM.

Because of that, it's difficult to give any prognosis about how much you will receive a given payment period. What I can say is that you will always receive a cut of BuildTeam's profits if you have tokens staked. We're doing well right now and expect to grow further in the future.

Look good guys!

Thank you! :)

I've been staking BT tokens since October 2018 with great results. This is an amazing opportunity to get BT tokens in a simpler way!

Just tried it out, works almost instantly.

Great news! An easier way to increase stakes! Looking forward to seeing the continued development!

Posted using Partiko iOS

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Great progress! A staking option on steem-engine would be amazing.

Posted using Partiko Android

We're working on that but can't give a timeline right now. But we will publish an update as soon as it's possible!

I would take a rough stab at end of September for that.