In this article we will explain how the upcoming BuildTeam bidding process will work and how you can physically exchange your BUILDTEAM tokens for a percentage of BuildTeam revenue in the form of Steem. This process can be compared to that of a bond holder deciding to trade in their bonds (promissary notes) for FIAT currency.
The BuildTeam bidding process represents the largest current use case for the BUILDTEAM Token. In addition to participating in the BuildTeam bidding process another option is to simply buy and hold BUILDTEAM tokens and use them as you would another cryptocurrency as a form of payment or an investment to be used at a later point in the future.
How does the bidding process work?
BuildTeam generates revenue from its various services such as @minnowbooster, @steemvoter and @steemsports. The company has been structured in a way where the profits from each individual service are collected and amassed into the BuildTeam General Fund, in the form of Steem cryptocurrency.
Every month BUILDTEAM tokens can be used to bid on a portion of the General Fund and users who bid on these funds will receive an amount of Steem proportional to the amount of BuildTeam tokens each bidder has bid.
For example:
If the entire bidding pool is 1000 Steem. The total amount of bids is 100 BUILDTEAM Tokens.
1.) Joe bids 35 BUILDTEAM tokens
2.) Mary bids 45 BUILDTEAM tokens
3.) Fred bids 20 BUILDTEAM tokens
The payout would result in Joe receiving 350 Steem, Mary receiving 450 Steem and Fred receiving 200 Steem.
Submission Deadlines and Payout Process:
The bidding process will end 3 days after the official announcement is made by BuildTeam. A similar announcement will be made on the 2nd or 3rd of each month. Payment in the form of Steem will be sent to your Steemit account within 48 hours after the bidding process has ended.
How do I bid?
Send the quantity of BUILDTEAM tokens you would like to bid to the account buildteam on the Bitshares DEX. Add a memo with your steem username to that transaction.
If you would like to increase your bid, send an additional transaction along with your steem username in the memo field.
You are allowed to specify other usernames if you want to gift a Steem payment to someone else.
How big is the pot?
Every month the pot will change but based on the current state of operations with BuildTeam for the next few months it should be between 1500-2500 Steem.
Is the BuildTeam bidding process profitable?
We want this process to be as transparent as possible. You will need to review the bids and make your own calculations as to the profitability of bids each month. You can see current bids in this google sheet but be aware that we fill this manually. You can see latest transfers on cryptofresh.
Summary
BuildTeam is an exciting new organization implementing a revolutionary new business model based around valuable blockchain services. BUILDTEAM-Tokens are a remarkable new cryptocurrency which can be used to bid on profits generated by BuildTeam. Consider becoming a part of our movement and taking part in this process by visiting the Bitshares DEX, purchasing BUILDTEAM-Tokens and then bidding for a percentage of our profits. If you have any questions, please drop by our discord support room at: https://discord.gg/EuKunFG
Be ready for our first announcement scheduled for August 3rd, 2017.
Best of luck with your bids!
The BuildTeam
This is a @steemvoter subscription payment post. Thank you to Steemvoter customers for allowing us to use your Steem accounts to upvote this post by virtue of your free subscription to the Steemvoter.com bot service. @steemvoter is proudly a @buildteam subsidiary and sister project to @minnowbooster and @steemsports.
Trade Bitshares for Buildteam and then send them over for a piece of the pie? Looking forward to your bidding announcement on August 3rd, 2017!
Looking forward to having you take part!
Excellent. I have some BuildTeam tokens.... Should I HODL or should I bid????
I'd say HODL but I'm biased because I intend to bid. Good luck!
Or 50/50 :)
Hhhmmmm. I like your thinking!
interesting!
There are no bids in the list yet?
With or without @
Bidding starts on the 3. So the list is empty yet. We do this manually for now, but please without the @
Maybe edit that bit in the post if it is a big deal ;)
I think it is pretty clear :)
I meant about the '@' :)
ohhh true. I think I'll make it a feature instead so that both will work
Very Informative Post Keep It Up :)
Wow!!! this is what I have been looking for all my life. Lol.. cant wait to start biding...
Sweet, will be glad to have you participate!
good post,like,voted
tnx buildtam for this informative post
I will always upvotes to you.
The BuildTeam is Token?
Yeah BUILDTEAM is our token.
I think this thing need more information and more simple video presentation , so that we can easily understand about this bitshare project, because every body exited to earn money.
We have gathered more info on how to bid and the next post will contain screenshots with instructions.
I want to know bidding process for in future.............?
same procedure as every month
good info,thanks for sharing
This post has been ranked within the top 10 most undervalued posts in the second half of Aug 01. We estimate that this post is undervalued by $709.07 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Aug 01 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Excellent post
Hi.. can you please let me know how can I invest to @minnowbooster to get every hour revenue share..? Still i could not find the method..
I'm very happy about your this article.. so, Followed, upvoted and resteemed..
If you'd like to receive daily dividends, simply power up liquid steem to @minnowbooster :)
Is there any minimum amount for power up to @minnowbooster..? How much we get back if we power up for 10 steem..? For how much period..?
Returns fluctuate based on revenue and you receive them indefinitely
How many buildteam tokens are in circulation that will be eligible for voting this month?
check here and scroll to the bottom. You can exclude some of the top holders because they announced they won't bid, so my guess is up to 4k tokens
https://cryptofresh.com/a/BUILDTEAM
Just to clarify, we probably will be bidding, but we won't be outbidding. If we choose to bid, we will bid no more than the highest bidder on day 3.
Congratulations @buildteam!
Your post was mentioned in the hit parade in the following category:
Hello steemit
Ok starting to understand somewhat. Thanks. 🐓🐓
Nice post...should be try... i will upvote you...
Great post...exellent, keep it up...!!
Congratulations for your excellent post, I invite you to follow us and we grow faster, greetings
good.. upvoe me
Whatever we do make sure your mind and mind are healthy. Because if our minds are not healthy or our mind is not with the work that is in mind. Which is definitely work we will do must be chaotic. Because we are not happy to work let alone our minds again unfriendly with work. In because we again have problems. Surely we will mess up the mind. While thinking about what we are working at that moment also go into our minds the problems we are experiencing right now. Faithful friends will help us in trouble. Is it true so oh friend steemit everything ?????
Is your mind healthy?
Healthy is your mind??? Good comment