Bitrent: Utility Token Economics

BitRent provides investors with the right to fully-functional utility tokens to make investing a smooth and easy process.

It is a utility token for the following purposes:

  • It does not provide any equity interest in BitRent company;
  • Its main function to provide an access to the BitRent base and transaction system;
  • Funds collected will not be distributed until the platform is ready for launching;
  • All collected funds will be kept in escrow;
  • Token purchasers will have the right to select real estate projects to participate in, to monitor their progress, and to stop their participation, i.e. they do not rely exclusively on the actions of others.
  • payment for all services and processing fees of the platform (including ad campaigns and project promotion on the platform)
  • tokens can be driven out of the platform and sold on the exchange

Prices for all services and processing fees are set in fiat, but paid using tokens. When a payment is performed, the system determines the amount of tokens, based on the going rate on the exchange, then takes them from a client’s wallet or buys the necessary quantity according to the going rate on the exchange via integrated exchange module

Commission collected by the platform falls into two groups:

  • 50% of tokens are reserved on the platform during services delivery
  • 50% of tokens are burned

(the platform reserves the right to change the specified percentage ratio)

For the project to be placed on the platform, it has to first go through the platform’s audit procedure; audit processing time varies in accordance with the chosen service packages

To take part in voting on the platform, all users should have no less than 1000 tokens on their accounts (the platform reserves the right to change the specified quantity)

To get access to project information, investors are to choose a range of services via subscription-based approach. These services differ by sets of information from basic data to live stream from tags and cameras on site

  • To promote projects, developers are provided with the service that can give their projects higher position in search results
  • In the form of additional services, the platform offers legal support/control for deals with object placed on the platform
  • The platform renders Escrow services for projects and makes sure that the projects use funds as indicated in the Roadmap

Site: https://bitrent.io/

Documents: https://bitrent.io/eng-doc/
GitHub: https://github.com/bitrent/Bitrent-Platform

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