There is a new game-changing project in development on the Syscoin platform…
BitCab is Uber 2.0 for the blockchain age, with stronger network effects and loyalty features, all enabled by a superior platform ecosystem, gamification and tokenized technological model.
Syscoin 3.0 offers the broad feature set needed by the BitCab team to achieve their goals, including hardened smart contracts built into the core (such as On-chain Offers, Certificates, Escrow, Aliases, and encrypted messaging), support for geolocation, custom tokens, a built-in database for powerful searching and offline data, Instant send (SYS) and Zero confirmation instant transactions (Z-DAG) for assets.
Tokens can be sent and received in real-time; this is a mandatory requirement for any token based system. Syscoin will give BitCab faster, cheaper, more scalable transactions than any other blockchain platform that exists today.
More about BitCab
Existing ridesharing apps such as Uber, Lyft, Didi Chuxing, Grab etc. have done a great job at priming the market by conditioning both drivers and riders to use ridesharing apps, but they have failed to inspire loyalty; drivers often drive for multiple apps simultaneously, and riders do not hesitate to switch for a lower price. BitCab will offer long term vesting tokenized rewards to incentivize target behaviors on the platform.
BitCab is a decentralized network of users with various roles in the BitCab ecosystem. Users who invite new riders, drivers and other participants to the community will be rewarded with tokens whenever their referred users make any useful transaction on the network, forever. This creates a two-way social incentive: referred users continue use BitCab to create value for their friends rather than a faceless corporate, and ‘Champions’ motivate their referrals to continue contributing to the BitCab ecosystem.
BitCab gamifies driver and passenger experience with blockchain technology, allowing them to embed real, predictable monetary rewards into the gamified UI.
To bring BitCab’s vision to life, the project founders have assembled a unique international team with a wealth of experience in ridesharing, tech startups, blockchain, software engineering, venture capital, finance and general business. The BitCab includes alumni of Uber, McKinsey, Yandex, Avito and multiple other fast growth tech startups, leading financial institutions and consulting firms. Please refer to BitCab.io for full team list
BitCab Coin (CAB) will benefit from many of the features already built into Syscoin, such as geolocational support, instant transaction confirmations, minimal network transaction fees, staking rewards and many decentralized marketplace features. CAB will also power the BitCab platform offering discounted travel, a rewards system and much more.
BitCab economics is built around CAB token. All transactions on BitCab blockchain will ultimately be settled in CAB (for fast adoption Riders and Drivers will be able to choose to pay and be paid in fiat currencies on the front end — however transactions will actually be settled in CAB, at market rates, on the back end). This will create a real demand for CAB, tied to the volume of transactions in the ecosystem.
In essence, all CAB tokens, existing and future, are hence by definition backed by the present value of all future transactions (mostly car rides) on BitCab ecosystem.
ICO Dates and Details
- 800 million CAB tokens will be issued prior to platform launch.
- In the pre-ICO 50 million tokens will be offered at a 50% discounted price of $0.01 per token
During the ICO, 500 million tokens will be offered at the price of $0.02 per token. The remaining 250 million tokens (out of 800 million total initial supply) will be distributed in the following way:
- 71.5 million tokens (8.9% of total amount) will be distributed among team members. Team members will not sell any CAB tokens for 12 months after the ICO
- 20.5 million tokens (2.6% of total amount) will be distributed among advisors. Advisors will not sell any CAB tokens for 3 months after the ICO
- 48 million tokens (6% of total amount) will be reserved for airdrop activities
- 10 million tokens (2% of public sale amount) will be reserved for BitCab Bounty Program
- 100 million tokens will be retained by BitCab Foundation for market making, development funding and operations funding purposes
Airdrop Dates and Details
Tentatively Q3 2018: A snapshot of all Syscoin wallet addresses linked to Syscoin aliases will be taken. In order to receive CAB tokens with your Syscoin alias, you must hold your Syscoin balance on an address with an alias.
A ratio of 4.5% of the total CAB supply purchased in the ICO will be distributed to each of these addresses, proportionate to the balance of Syscoin held on Syscoin Aliases at the time of the snapshot.
To incentivize community to use the BitCab Dapp, any airdropped CAB used for booking rides in BitCab network will receive a 100% refund for a limited duration.
To receive the airdrop, watch for Syscoin’s next-generation wallet: Blockmarket 3.0 — Coming soon!