At Nocks we deliver a unique combination of Trading & Payments services. Our main focus is on cryptocurrency and exploring new use-cases and business models in finance. We aim to create value for anyone that uses Nocks. Whether that is trading Gulden, Ethereum, Litecoin and/ or Bitcoin on our exchange Nocks Trade or processing Gulden, SEPA or iDeal payments for merchants via Nocks Checkout.
We are now ready to evolve and to do so we’re introducing our very own NCKS Utility token. This blog describes NCKS Utility as best as possible, but feel free to contact us if you have any questions.
A short introduction to Nocks.com
Nocks is a financial technology company, in short — a fintech startup. Founded in 2015 by Patrick Kivits and Roel Boer to create a way for people to use their cryptocurrency in real life. Over the years Nocks has expanded the platform and has developed a smart way to keep the business lean and optimize the revenue streams. Milestones include processing the first million euros in transaction volume within the first year and annual growth in overall transaction volume of 6 million euros in 2016, 24 million euros in 2017 and 56 million euros in 2018.
Nocks is the first Dutch cryptocurrency platform with an iDeal certificate and is currently working on obtaining licenses to expand and cover all services that Nocks provides within Europe.
Nocks has done presentations for the risk departments of banks and the Dutch Public Prosecution Office about their Know Your Customer & Anti Money Laundering policies. Nocks also maintains close relations with the Fiscal Information and Investigation Service (FIOD) and collaborates with cybercrime, economic & financial crime units of Police. Nocks also (co)hosts numerous events to promote and support the cryptocurrency & general development community.
Nocks offers two types of services:
Our revenue comes from:
- Broker fee on direct purchase of cryptocurrency via iDeal and Bancontact
- Trading fees on direct trading between users on our exchange Nocks Trade
- Deposit & Withdrawal fees for processing funds for traders on Nocks Trade
- Transaction fees on payments processed through Nocks Checkout
- Any other fees that we charge for the use of our service
NCKS Utility token allocation
Nocks will issue its token called the Nocks Utility Token (NCKS). No more than 10 million NCKS Utility tokens will be created, never to be increased.
IEO Stage 1 will start July 1st 2019, the sale of NCKS Utility tokens happens in stages on a first-come, first-served basis until 10 000 000 tokens are in circulation. The stages will look the following:
- IEO Stage 1 starts July 1st 2019: 1 600 000 tokens at 0.25 EUR per token
- NCKS Utility markets open August 1st 2019 on Nocks Trade (token becomes tradable)
- Stage 2–5 will be communicated 30 days in advance, but have no set timeline
What you can do with NCKS Utility
You can use NCKS Utility to pay for fees on the Nocks platform, including but not limited to:
- Trading & Broker fees (50% discount)
- Deposit / Withdrawal fees (50% discount)
Nocks has the right to change the discounted rate at any time with 30-day notice.
- Holding NCKS Utility tokens may also allow you to access beta’s of (new) apps, offer access to new/unique Nocks platform features and possibly vote on new proposed features. View all token-holder features here.
Burning the NCKS Utility supply
We will destroy NCKS Utility tokens every quarter based on trading volume on our exchange platform until we’ve destroyed 50% of all the available NCKS Utility tokens. Leaving a maximum of 5 000 000 NCKS in circulation. We’ll communicate the amount of burned NCKS every quarter through our social media accounts on Facebook, Twitter & Instagram.
A word of thanks from the founding team
What we’ve learned as a team from our time together so far is that whatever happens along the way impacts your company strategy and its entire direction. The dynamics change and you have to bob and weave with everything that comes your way to stay on course. We have to deal with regulators, financial law, risk, fraud and a lot of misinformation about blockchain technology, cryptocurrency and its implications. It’s a steep learning curve, on all fronts. Yet, incredibly valuable.
We want to thank you for taking the time to read about Nocks.com & NCKS Utility, let’s find out what we can achieve together!
Roel Boer — Co-founder & CEO
Patrick Kivits — Co-founder & CTO
NCKS Utility tokens don’t represent company shares and don’t represent any type of ownership of the company. You will not receive any revenue share or dividends by holding NCKS Utility tokens.