In my previous article, I gave an introduction into the Blockshipping project stating what they want to achieve and how they intend to get there. One thing amongst several things I didn’t mention was that the platform will be powered by a token system. Well ofcourse a Decentralized Application dApp ought to have a token with which the platform or app can be utilized; however, not everyone knows this. Well then, let us dive right into it.
The Global Shared Container Platform is a decentralized application which will handle or automate actions such as settlement through smart contract functionality. In order to ensure settlement of economic responsibilities while using the platform, an INGENIOUS innovation though not new was adopted.
AVOIDING CRYPTO VOLATILITY IN A REAL WORLD FINANCIAL TRANSACTION
Understanding that the volatility of cryptocurrencies is a drawback to mass adoption of cryptocurrency in facilitating trade, the management of BlockShipping has come up with their own tokenization model. In this model, the entire Blockshipping will be a combination of two tokens which are the CCC and CPT.
1. The Container Platform Token (CPT). This token will run or power the internal GSCP platform and it will be for settlement of economic responsibilities and receiving of benefits on a Permissioned Blockchain of the GSCP. One interesting thing about this token and what sets it apart from the CCC is that, it is a StableCoin. It is valued at 1CPT = 1USD.
2. The Container Crypto Coin (CCC) which is an ERC-20 token. This token is what will be sold during the ICO and also traded on the cryptocurrency exchanges. It will also service as a revenue share token. As all ERC-20 tokens value are decided after ICO by the forces of market supply and demand, so therefore the CCC token’s fate will be influenced to a considerable extent.
I said considerable extent because, there is a workaround to the volatility influence which crypto is prone to. This patch comes in the form of Market Maker. What this does is quite simple. In the event that post ICO, the value of the CCC tokens falls below a specific level, then there will be a buyback program for those who wish to dispose off their tokens.
The funds to be used for this buyback program will be obtained from a part of the funds raised during the ICO that was set aside as a Market Maker Fund. The fund will be made up of 45% of total money raised during the ICO.
Another benefit of the CCC token to holders is that they are entitled to share in the gross earnings made from transactions on the GSCP platform. These earnings will be airdropped to the holders of over 100 CCC tokens who have completed KYC requirements on the portal on a pro-rata basis monthly. The formula for the revenue sharing is quite easy.
For every 0 to 0.5million dollars earned, there is a distribution of 20% to CCC holders. As the value of revenue increases, so the share percentage decreases as seen from the picture above. The Team also holds future prospects for the CCC token holders.
On the tokensale, it has been set that only 50,000,000 CCC tokens will ever be created with each costing $0.62 as per ICO price. During the ICO, only 40,000,000 will be sold to the public. With this kind of innovative reward model adopted by Blockshipping, it will surely be a good deal for the Blockshipping Investors and the Shipping Industry as a whole.
Well that’s about the Blockshipping Tokenomics.
Find More Resources Below Website Url: https://www.blockshipping.io/ || Telegram Community: https://t.me/blockshipping
White Paper: https://www.blockshipping.io/wp-content/uploads/2018/02/Blockshipping_GSCP_ICO_White_Paper_public.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3502572.new#new
i have taken time to go through the whitepaper. such a nice project with an amazing team
Token economics has proven to be one of the best approaches to understanding cryptocurrenvy investments, because the data says a lot about the project.
I have being following blockshipping for a while now and i believe its a good project