An In-Depth Explainer on the unsold STU Liquidation Process- Post ICO
The bitJob token generation is well underway and we’re proud to have surpassed our minimum targets, and are on track for a successful conclusion. A number of bitJob community members have expressed an interest in the specifics of the liquidation process of the STU Tokens that may remain after the conclusion of the launch.
Because we set a relatively high cap for the bitJob Token Sale, there will be a significant amount of STU Tokens left. Whatever STU Tokens remain from the Token Sale will be used solely for the funding of the bitJob Affiliate Program, which is an essential process in the successful scaling of the bitJob platform.
Here’s what the remaining unsold STU Tokens will NOT be used for:
- The STU Tokens will NOT be retained by the bitJob Team.
- The STU Tokens will NOT be used to compensate advisors, contributors, or employees.
- The STU Tokens will NOT be traded with bitJob employers for fiat (The STUs that Students will be paid with, will be exchanged and purchased on the open markets only) This will strengthen the STU value, and cause an increase in Demand.
- The STU Tokens will NOT be released through any process other than the Affiliate Program.
- The STU Tokens will NOT be burned or destroyed.
As a reminder, the bitJob Affiliate Program is the method through which University Student Unions, human resources firms, and students are incentivized to onboard to the bitJob ecosystem. These entities are the value creators of bitJob and the STU Token, and we believe that the potential and minimal short-term market effect of any secondary liquidation will be offset by the long-term upside of a thriving bitJob ecosystem.
Here are some important facts to note in regards to the Affiliate Program:
- The remaining STU Tokens will remain locked until 9–12 months from the sale.
- The STU Tokens will be released slowly over the course of 5–10 years, and only via Affiliate Rewards.
- Employers will pay students in STU Tokens purchased from the open market only.
We know that bitJob contributors all over the world see the future of a decentralized marketplace for student employment as a long-term project that provides a “win-win” outcome for bitJob, contributors, employers, and students alike. Although burning tokens might seems a short-term gain for many, the reservation of remaining STU Tokens for the Affiliate Program will provide a practical, fair, and progressive solution for the bitJob ecosystem.
We look forward to the conclusion of the token sale and what we’re sure will be a busy few months of business and tech development!
We are working around the clock to support our global community!
bitJob Crowdsale Main Event is now Live!
