A key question that everyone should ask before buying into an ICO is: what will the tokens be used for? In the case of savedroid, the token will become the key payment in the new crypto ecosystem of the company — and therefore has good chances to show a strong performance if savedroid’s crypto simplification strategy works.
The savedroid token is a utility token, created according to the ERC20 standard in the Ethereum Blockchain. It has the short name “SVD” and will be used to purchase the crypto services within the savedroid ecosystem. Users of savedroid’s automated crypto saving and investing will have to use the savedroid token to pay the fees of these crypto services. It has a built-in deflation mechanism, as suggested by Vitalik Buterin, to support its future value. This means that once a savedroid token has been used for a purchase within the savedroid ecosystem, we will burn a certain percentage of these tokens to support its value. There will be no more fresh creation of SVD after the main sale of the savedroid ICO. Users can buy or sell the SVD in supported token exchanges.
savedroid, for the first time ever, provides average mass market users with easy access to cryptocurrencies without technological adoption barriers. Within savedroid’s unique AI fueled ecosystem, users will profit from convenient crypto saving plans in Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, IOTA, Dash, etc. and superior crypto investment opportunities, such as portfolios, derivatives, and ICOs. savedroid will create a smart UX which conveniently auto-converts savings to cryptocurrencies, securely stores them, and makes them easily accessible, tradeable, and spendable. We will offer all of these crypto services for a reasonable fee. Our users will be required to purchase all consumed crypto services within the savedroid ecosystem using SVD.
When a user takes his savedroid tokens to pay for a crypto service, we collect his savedroid tokens and automatically burn a percentage of these tokens. Thus, the number of available savedroid tokens will decrease over time. The bottom line is that this will support the future value of the savedroid token.
In other words, a percentage of the savedroid crypto service fees will automatically be removed from the pool of available SVDs by every single purchase. Thus, the more the savedroid ecosystem is used, the further the supply of SVD will decrease.
So, eventually, our user growth will drive an increasing demand for savedroid tokens on the one hand and, at the same time, a decreasing supply of savedroid tokens on the other hand. Hence, the value of the savedroid token depends, among other factors, on our future user growth.
An ICO participant can buy savedroid tokens during our ICO. He can then either use his SVD to become one of the first savedroid crypto saving and investing users and pay for the crypto service fees or hold on to his savedroid tokens and maybe privately sell them at a token exchange.
A savedroid user, who has not participated in our ICO, will have two options after our ICO: either he directly buys SVD at a token exchange or, conveniently, directly within the savedroid mobile apps. The savedroid token can be stored in a wallet and used to pay for the consumed crypto services within the savedroid ecosystem. So, in the end, the price of the savedroid token will always be determined by the actual market supply and demand at the token exchanges. We will adjust our service fees denominated in SVD within the savedroid ecosystem according to the free market price of the savedroid token. This will ensure that our service fee will stay attractive for all savedroid users over time.
