Our Initial Coin Offering Has Ended: Stakeey Utility Token Now Trading On ForkDelta
Our previous post explored the utilization of ERC20 tokens in the process of both tokenizing real world assets as well as in the process of issuing the Stakeey equity token. In this post we are going to look at how we are using the ERC20 Standard to issu a utility token which will be used in both incentivizing market participants on the Stakeey marketplaces as well as to pay out dividends on the Stakeey equity token which we explored in our previous posts.
The Stakeey token sale began back in Q3 of 2018 and despite not reaching our hard cap we managed to attain our soft cap of $400 000. The Stakeey token sale successfully raised a total of $480 000 in return for 40% of the total circulating supply of 100 000 000 tokens. Below is an outline on how we are issuing the Stakeey utility token, a process that is currently underway, so if you contributed in the ICO or participated in our bounty program and have not yet received your tokens, the token distribution process should be completed before end of this month and your tokens will be allocated to your corresponding contribution addresses before then. The Stakeey token is being distributed as follows;
· 40% — Token Sale
· 40% — Team
· 9% — Marketing and Advertising
· 9% — ICO Bounty
· 2% — Airdrop
The Stakeey utility token has various use cases on and off the Stakeey marketplace and decentralized application. The most notable one being as a transaction means on the Stakeey marketplaces which allows market participants to buy and sell fractions of art pieces in the form of digital tokens against the Stakeey token pair at zero commission fees. Listed below are the current use cases the Stakeey token will be expected to fully carry out once the decentralized application has been launched on main-net;
· rebate token on commissions charged to sellers on Stakeey marketplaces
· pay out dividends on the Stakeey equity token
· accepted as payment on Stakeey marketplaces
· means of payment by 3rd party advertisers
· payment for deliveries on the Stakeey marketplace
· loyalty points for adding goods and shopping on the Stakeey marketplaces
· payment to artists listing their art work on the fractionalized marketplace
· trading pair against fractionalized art pieces
· payment for listing fees on the decentralized app
· loading up account balances on the Stakeey debit card
The tokens issued in the token sale are already part of the tokens trading on ForkDelta with the exception of tokens which were issued in the private sale which amount to 20% of the token sale tokens which are currently subject to a lock-up period of 6 months. Team token which amount to 40% of circulating supply are subject to a 12 month lock-up period and thereafter will be issued over the following 2 years. The remainder of the tokens which include Marketing, Bounty and Airdrop tokens will be available for trading once token distribution is complete.
We are currently in the process of sending in applications for listing on various exchanges as well as decentralized exchanges to ensure ample liquidity avenues for our token holders. If you are interested in buying the Stakeey token, it is currently trading on ForkDelta under the following specifications, alternatively you can follow this following link to find the STAKS/ETH trading pair on ForkDelta;
· Contract Address — 0xed6d7fb20baf7e47f0367bae8b1bbfcfe23ea595
· Number of Decimals — 18
· Token Ticker — STAKS
· Circulating Token Supply — 100 000 000
· Maximum Token Supply — 1 000 000 000
· Public Sale Token Price — $0.01
One of the most common questions we receive is why do you need your own token, why not just use bitcoin? We will briefly explain why in the next few lines. At this point we are still very much an early stage company and we do not necessarily have the biggest of balance sheets and we would like to one day turn profitable while at the same time providing massive value to our customers, especially those very early ones that are important in relaying feedback of the product to us. The Stakeey token affords us the opportunity to do exactly this without compromising our balance sheet or pricing schedule and in that regard the Stakeey token’s utility will be largely in using the token as loyalty points to incentivize market participants on the Stakeey marketplaces.
However, the Stakeey token has its own unique use cases which couldn’t exactly be carried out using other cryptocurrencies and thus differentiates it from popular cryptos such as Bitcoin and Ether. The Stakeey token will play a crucial role in the governance of both the Stakeey marketplace as well as the decentralized application. Every address that owns the Stakeey token will be eligible for voting on updates which occur on the Stakeey marketplace. Holders of the Stakeey token will be able to influence decisions such as cryptocurrencies accepted for payment, the art works that are added onto the decentralized application and fractionalized ownership marketplace as well as vote on basic updates which may occur in the long run such as commission fee changes. Just as board members on a company’s board can influence the direction of the company, so too will Stakeey token holders be able to through the voting rights held by the Stakeey token.
We will be updating this post with more exchanges once our listing applications have been confirmed. If you are part of a team that is running an exchange and would be interested in broadening your customer base to the majority of the African demographic that participated in our token sale, please feel free to reach out to us on firstname.lastname@example.org
Find out more about Stakeey:
Token Sale: https://stakeey.com/token-sale.php