Great news are coming to the BOK holder and the ecosystem.
Token holders will earn more! BTC trading, BOK dividends and staking and more!
BOK BTC initial bonus:
Any BOK deposited to the Blockium app in advance of the listing day will enjoy a bonus of up to 10% in BTC according to certain conditions. We chose to reschedule the listing until 11/7/2019 (listing will happen on 11/7/2019 on both Bitforex and Coineal) to allow the token holder to have time to benefit from this bonus.
The bonus will be transferred to your Blockium account, and you will be able to use it to enter competitions on the app. If you bought BOK in the IEOs, you will need to create a Blockium account and from the Blockium app, send a screenshot of your BitForex or Coineal account, as well as proof of your identity.
Blockium app competitions entrance fees and prizes will all be in BTC. It will also be possible to deposit and withdraw BTC to the Blockium app. BTC withdrawal will depend on the participation volume in Blockium competitions.
BOK will still serve an important incentive staking role explained below.
BOK dividends POOL:
All the BOK currently in user accounts will be considered as part of the BOK dividends pool. The maximum amount of BOK in the pool will be 20% of the total BOK supply. The balance of the pool will always be the sum of the amount of BOK currently in the Blockium users’ accounts. Every user who holds a stake in this pool will be able to collect dividends from the company. In the first stage, the company will pay 10% of its revenue from the Blockium app back into the pool. These dividends will be paid on a weekly basis, and will come from the revenue collected from the entry fees of the competitions on the Blockium app. The holders of BOK will receive dividends based on their stake in the pool. For example, if you hold 1% of the BOK in the pool, then you will receive 1% of the dividends.
BOK deposits and withdrawals will be available (together with the BTC deposits and withdrawals mentioned above), however in order to receive the BOK dividends, BOK staking must be made which means that the dividend calculation will only take into account the user BOK balance which was not part of a deposit in the last week prior to the dividends calculation. This means that if a user had 1000BOK and then during the week withdrew 500BOK and then deposited 2000BOK, then the dividends calculation for that week will take 500BOK into account while the dividends calculation of the week after it, in case the user did not make any BOK withdrawals/deposits, will take 2500BOK into consideration.
The more BOK that you hold, the more money you stand to make from the dividends. The dividends will be payed in BOK which will also increase your BOK balance for future dividends calculations (unless you withdraw some of it). You can also obtain more BOK by purchasing it on the exchanges and depositing it in your Blockium account.
In the future we will also add BOK dividends calculated per user by the total amount of participation fees volume of the user during a period.
Blockium is excited about these new opportunities and hopes that its users will be too! The most popular currency BTC will be traded on Blockium, while BOK will be staked for dividends.
Q: “Is the BOK balance and BTC balance display the same balance?”
A: “No, those are two separate balances where the BTC balance is used for trading and BOK balance is used for staking dividends.”
Q: “for example, i have #3000 now… when converted, ill get 15000 BOK (x5) right? what can i do after that?”
A: “you will have bitcoin balance and BOK balance. You will have 15000 BOK in your BOK balance and in your BTC balance you will have the equivalent of 1500 BOK (10% of 15000). Let’s suppose that total Blockium users BOK balances will be 15,000,000, then your 15,000 BOK balance is 0.1% of the total so you are eligible to get 0.1% of the revenues dividends which are given on a weekly basis (when you will increase your BOK balance then you will be eligible for more % of the dividends). So if the dividends will be 1,000,000 BOK then 0.1% is 1000BOK so you will get 1000BOK dividends or more every week if the dividends pool will be 1,000,000 BOK or more (the size of the dividends pool depends on the amount of total entrance fees in BTC that users pay during the week for tournaments). Regarding the BTC bonus balance you can use it to play in tournaments and you can withdraw it after the volume of entrance fees of competitions you played in is high enough. In addition it is possible to deposit and withdraw both BTC and BOK. Deposited BOK will be taken into account in dividends calculation only in the week after the deposit. Withdrawn BOK will make the dividends you are eligible to smaller. Deposited BTC can be withdrawn without conditions. Is this clear? This will create: 1. Strong economics and incentive for BOK token holders 2. Interest in playing Blockium because of the ability to play with BTC and multiply your BTC because of the high returns if you win competitions We want to make this model as clear as possible because then we believe everyone will understand the great potential and economics here. So if it is unclear or you have some suggestions on how to make it clearer then do tell.”
Q: “what are the withdrawal conditions?”
A: “do you ask about the FREE BTC bonus? or about the BTC users deposit? I will clarify the withdrawal conditions: 1. There are NO LIMITATIONS OR CONDITIONS for withdrawal for the BOK balance. 2. There are NO LIMITATIONS OR CONDITIONS for withdrawal of BTC you deposited or won by playing the BTC you deposited. 3. The only withdrawal limitations are for the initial FREE BTC the users receive from us as bonus according to their initial BOK holdings at the time of BOK listing. This BTC is absolutely free and is given from the company funds. Only this FREE BTC has the condition that your trading (entrance fees) volume must be x10 of the bonus BTC you received. This BTC is given FOR FREE in order to give more incentive for users to play on Blockium and also in order to REWARD the initial BOK holders. Is it clear now?”
Q: “so how do you make BOK become strong, stable and up?”
A: “so for the long term the price will rise if there will keep being a demand for BOK. so let me explain to you why there will be a demand for BOK. holding BOK gives dividends from Blockium revenues. so instead of selling it, you can hold it to earn more of it. If you tried the Blockium app and believe in its potential to revolutionize how people trade then in other words you believe the trading volumes in the Blockium app will rise. If the trading volumes in Blockium app will rise then the dividends pool will increase giving higher dividends to the BOK holders which will make it more profitable to stake BOK in your blockium BOK balance instead of selling it. so what is left to explain is what will you be able to do with all the accumulated BOK through dividends and exchanges. The answer is A LOT. The whole Blockium ecosystem will be integrated hand in hand with BOK: 1. entrance to airdrop competitions which perform airdrop for other coins will be accessible only using BOK 2. certain features in the Blockium app will only be available to BOK holders 3. certain abilities will cost BOK. Blockium ecosystem is dynamic and evolving and the usage of BOK will just increase with time. do you see now why BOK price will rise?”
Q: “How was # converted?”
A: “each # was converted into 5 BOK and 10% of the BOK was given as a FREE bonus into the BTC balance to be used for competitions. so in the end the users have 2 separate balances: BOK and BTC. where BTC is used to enter competitions and BOK is used for staking to earn dividends.”
Q: “How do I withdraw/deposit?”
A: “Use the withdrawal or deposit button in the user menu.”
Q: “How are dividends calculated?”
A: “1% of ALL btc ENTRANCE FEES that ALL users pay for competitions are given as BOK dividends every week. the % of those dividends that you get is equal to your BOK staking balance divided by total BOK users staking balances”
Q: “Can we have additional security in accessing our account like 2fa? Or email the code or something similar?”
A: “good question, let me first tell you that I am the lead developer and I have a wide experience in security research, that is my expertise. So all Blockium code and servers were created and written with security in mind. Many apps have 2fa but the code itself is full of vulnerabilities which makes the 2fa useless. Now, regarding 2fa I am guessing you are concerned about losing your funds because of account being stolen. So right now all deposits/withdrawals are audited manually by a human so in case you lose your account you will be able to report and the account will be frozen without any way for the attacker to take out your money or use it in competitions. To finish up, all this does not mean that we will not create 2fa, we will add it in the future. However there are many other security mechanisms in Blockium. And of course you should be careful with your passwords and devices. if you lose your phone then the 2fa will not help you since the attacker will have both of the two factor “parts”. And if you lose your email then you are in big troubles even if you have 2fa. Some users complained that their account got blocked, many of them have performed some actions which triggered our security systems to block them (from correct reasons). We have many mechanisms to detect suspicious accounts and duplicate accounts and we also have manual routines to find malicious actors. ALSO: regarding BOK itself and Blockium main wallets: most of the funds are kept in cold wallets so even if the system will get breached (which is highly unlikely because of the high level of security), the funds will still be unreachable to the attacker.”
Q: “Do i need to uninstall the app so that no one steals my account?”
A: “No! I am from a security research background and I am also the lead developer of Blockium and built Blockium with security in mind so stealing your money is not so simple. there are no credentials saved inside your app if you make sure you dont press “remember me” and you logout when finish playing”
Q: “So why to play in blockium and why to deposit btc instead of just staking BOK for dividends?” A: “You can do that if you don’t enjoy blockium or dont have bitcoin. if you have bitcoin you can deposit bitcoin to Blockium and then enjoy the tournaments and also your tournaments entrance fees increase the dividends you will receive from staking the BOK balance. if you put 0.1 BTC in tournament with 100 people then you can earn more than 1 btc so that is 10x upside for your money. the Blockium tournaments have big upside for the winners. where else can you trade with btc and earn so much upside? all this with cool trading experience.” Q: “but if i loose the tournament?” A: “there is no place in the world where you just win millions with zero risk, there is always risk. if you like trading and want take the risk then you have very high upsides in blockium”
Q: “In which wallet can I store BOK tokens?”
A: “BOK is an ERC20 token on the Ethereum blockchain. Any ethereum wallet which supports ERC20 tokens (such as mycrypto and myetherwallet and metamask) can store BOK tokens. Pay attention that you will get BOK dividends ONLY if you stake BOK in your Blockium account and not in an external wallet.”