Place/Date: Singapore - June 8th, 2020 at 7:55 pm UTC · 8 min read
Contact: BitTok, Source: BitTok
As a global digital asset exchange, BitTok is committed to exploring new value dimensions in the blockchain world, striving to make blockchain investment more transparent, making digital asset transactions safer, and creating fairer, more open, and more transparent transactions mechanism of exchanges. Under the trend of the blockchain era, the BitTok platform token BTOK has officially been listed in the BitTok StartUp section at 00:00 on 7th June, Singapore time to start the lottery application. BitTok platform users have the opportunity to participate in the lottery and obtain BTOK. The issuance of BTOK allows users in the BitTok ecosystem to enjoy the opportunity to obtain capital gains, firmly guarantee the wealth balance of different roles in the development of the BitTok platform, and make every effort to maintain the stability of the entire BitTok ecosystem.
The token launched by the BitTok platform is BitTok Token, for short as “BTOK”. The total launching amount is made constant at 500 million, and it is guaranteed that never more will be launched. BitTok Token is a decentralized ERC-20 blockchain digital asset based on Ethereum. In the future, the BitTok platform will develop its own public chain system, replace ERC-20 standard tokens, and establish a professional public chain trading platform.
BTOK’s token distribution plan is composed of lottery airdrop, lock-up plan, team incentives and other aspects. First of all, 65% of the BTOK tokens in total will be used for public chain development, user rewards, marketing and other ecological operation and construction; early investors 10%, technology and operations 10%, etc., and lock positions for 5 years respectively; 5% will be used for ecological strategic development cooperation; the remaining 10% will be used for the StartUp lottery airdrop plan. Platform users will have the opportunity to participate in the lottery and obtain BTOK. The token distribution scheme adopted by the BitTok platform on the one hand guarantees the diversified development and ecological construction of the platform. On the other hand, the incentive and lottery airdrop plan brings incremental users and loyal users to the platform, activating demand and transactions. The increase in demand and the appreciation of tokens form a virtuous circle and make the trading-focused BitTok ecological more prosperous.
There are many ways to apply BTOK on the platform. For example, transaction fees can be deducted, that is, users who participate in trading on the BitTok platform, regardless of the type of tokens traded, can choose to use the BitTok Token which will be deducted after being converted into equal trading fees when they need to pay trading fees. As an intermediary coin for trading, it can be used for paired trading with other types of coin. In the future, OTC trading will be available on the BitTok platform, and merchants can use the BitTok Token as a platform security deposit.
Users with BTOK also have multiple benefits to enjoy, and can also participate in community activities such as platform super fission, promotion, luck, prophecy, games and so on. Users can participate in BitTok Token lock-up financing activities and choose fixed financing activities of different durations to obtain fixed financing income. Users holding over the prescribed amount of the BitTok Token, can enjoy an exclusive airdrop reward of the periodic launched new tokens. For all projects that first issued on the BitTok platform, their project tokens will be airdropped in proportion to users who meet the criteria of the lock-up plan.
In addition, users holding the BitTok Token have the right to vote, and obtain corresponding number of votes according to the number of positions. Based on this, users can engage in the community autonomy voting initiated on the platform, including but not limited to project lottery purchase, community governance voting, etc.
The BitTok platform also launched a unique partner program, Users who hold a certain number of BitTok Tokens in locked positions can become BitTok partners. The standards for partner will be adjusted every year, and their exclusive rights and interests, including but not limited to: rights of recommending the launch of token; the exclusive subscription or airdrop rewards for the launch of the new token and all non-mainstream token projects being issued on BitTok, the super partners enjoy priority to get the subscription or airdrop; exclusive trading fee discount; dividend income, partners enjoy platform fee dividends, which are converted in proportion into BitTok Token or other corresponding tokens and are distributed; have the pre-emptive right of StartUp, partners have the privileged subscription for the StartUp project of the platform; obtain mysterious gifts from BitTok partners.
As an emerging economic model, the token economy cannot quickly obtain the industry’s recognition and application without the support of blockchain technology. The earliest token economic system based on blockchain technology is a payment token based on Bitcoin. With the introduction of the first Turing-complete smart contract by Ethereum, applications apart from payment service become possible. The advantages of BitTok’s BTOK token is very obvious. On one hand, it expands the supply channel of products or services, on the other hand, it accelerates the realization of value through decentralization and other means. Specifically, it has the following two meanings:
The BTOK token economic model expands the BitTok ecosystem. In theory, all digital currency assets and rights can be tokenized. Anyone or any organization can issue proof of rights and interests based on their own resources and service capabilities; at this time, the people who provide products or services are not limited to traditional producers, and anyone can be both a consumer and a producer. Traditional Internet companies usually take a simple and crude way to burn money to buy traffic, and ultimately cannot avoid becoming a unicorn monopoly model. Blockchain is the underlying technology of the new Internet. In the era of blockchain, the BitTok platform adopted the future dividend rights (that is, tokens) to attract traffic, greatly reducing the cost of platform promotion and marketing. For users or investors, it is possible to obtain the original shares of BitTok, the world’s most trusted digital asset management platform, without spending money.
The BTOK token economy redefines the production relationship within the BitTok ecosystem. After the tokenization of digital currency asset rights and interests, its circulation takes place in the blockchain network. The blockchain technology ensures that the entire circulation process is open and transparent, verifiable and traceable at any time. This not only greatly reduces the cost of process supervision and review during the transaction process, but also its security, credibility, and reliability cannot be achieved by any previous transaction method. Therefore, digital asset rights can achieve high-speed circulation and transactions on the blockchain, so that its price can be quickly confirmed in the market.
In the BitTok ecosystem, all nodes need to contribute to the entire economy through effective behaviors, and at the same time, they will receive corresponding incentive returns in order to create an ecosystem that can truly achieve self-driving and self-incentives. BitTok applies an effective token economic model, and its derived incentive mechanism can ensure that all ecological participants can receive corresponding returns according to the size of their contribution.
It should be pointed out that the effective behavior of any ecological node is not out of its own moral sense, but economic motivation based on a rational perspective. Through the design of the token economic model, BitTok enables the rational goals of each ecological node and the entire ecological development mission to be unified and achieves incentive compatibility, thereby forming a truly valuable and competitive ecological economy, ensuring the ecological self-reliance growth trend.
The issuance of BTOK as a circulation token on the BitTok platform also benefits from BitTok’s strong technical guarantee. The BitTok platform uses a professional distributed architecture to build a preventive DDOS attack system to protect the user’s assets, and to achieve comprehensive ecological coverage in a multi-node organization, to promote the stimulation of financial ecological synergies, under all-round protection, BitTok can effectively guarantee the safety of users’ assets and continuously launch products and planning mechanisms that serve the growth of users’ wealth, thereby ensuring that the BTOK token economy can play its value.
Every tide of technology will lead mankind to a freer, fairer and better living. There is no doubt that blockchain, as an epoch-making technology, is being accepted by more and more people. We are so honored to participate in and devote to it, and we also invite you to create together a glorious era of blockchain.