Taylor’s token (symbol TAY) economics explained
Upon closure of Taylor’s token sale on March 20th, TAY will be at this point begin to be distributed to contributors . This article is a guide to its usage and value.
In 2017 the world witnessed the rise of the token sale phenomenon, this new form of fundraising was responsible for generating billions of Dollars in record time. It also facilitated the creation of countless life-changing projects that otherwise would not have come to fruition. The fundamentals are simple: a project that needs to be funded creates a token to be sold to contributors who wish to help support it. Besides the motivation of helping a project become a reality, a contributor takes into account the token itself before making the decision of purchasing it. Each token has its characteristics based on purpose, role, and features. These three variables are what we are going to cover regarding TAY.
The purpose of creating TAY as a utility token
Utility tokens are services or units of services that can be purchased, tokens can also be used to pay for a service subscription, for example. They are a way to fund projects of shared infrastructure that before would have been much more difficult to accomplish without token sales. To enable such ecosystems to be built, tokens are sold in “crowd-sales” during token launches.
The purpose of creating Taylor’s token TAY is to develop a form of payment for the subscription of Taylor all-in-one platform signaling and trading service.
The role of TAY, why purchase it?
Holders of TAY will enjoy exclusive benefits, that includes a discount on the subscription price and access to premium features. Once the final version of the Taylor app is launched, individuals that are holding at least 1000 TAY will have the first 3 months of the subscription free of charge.
By purchasing TAY, the contributor will be participating in the process of bringing a platform that will bring cryptocurrency trading to everyone, everywhere. For anyone who is already involved in cryptocurrency investing and/or trading, this could be a project of great interest. Taylor is taking an important step towards the mass adoption of cryptocurrencies, which in turn will increase the demand for them, and consequently, possibly increasing the value of cryptocurrencies across the crypto market spectrum.
Premium features
TAY will be used to fund our project and to serve as a form of payment for our subscription service. It will initially be sold during our token sale at its lowest price and, later on, in cryptocurrency exchanges. To motivate the circulation and to protect the value of our token, we are offering incentives to users who pay for their service subscription with TAY.
Benefits include:
Subscription discounts — Taylor will offer a discount of 25% to users who pay with TAY for their monthly subscription. This translates to savings of 180 USD a year.
Notification priority — The heartbeat of the Taylor service is the continuous monitoring of the markets looking for potentially profitable trades; once found, a signal will be sent to notify users of a trading opportunity. Subscribers who pay with TAY will receive these signals before everyone else, giving them a time advantage and a chance to achieve profit more easily.
Higher trading limits — There will be a set trading limit yet to be implemented. However, users who pay for their subscription with TAY will have a higher trading limit, once again facilitating higher profit yields.
New beta features — We are continually investigating and testing new features. We have many plans to enhance our services, such as enabling different investing strategies and integration with other major exchanges. These are just two examples; there is much more to come. Subscribers who pay with TAY will be the first to have access to these new features.
Combining these incentives, users who pay with TAY, could have the potential to generate more profits than users who choose a different payment option. The gains might easily be enough to pay for the subscription itself.
Possible future features
We have many plans for the future of TAY. Unfortunately, we cannot share ideas until they become part of an implementation plan. However, we can give a taste of the possibilities of TAY. For example, one idea is to build a social trading platform in which expert traders (who create and share trading strategies) will be rewarded in TAY for each successful trade done using their strategies. Again, this is an idea, we are cautious regarding making our ideas public before thoroughly testing them. As soon as they become plans, there will be an announcement.
Taylor’s token sale begins on February 19th, Join us!
Head to smarttaylor.io and sign up for the whitelist, please follow the instructions carefully. The token sale will go on for four weeks from February, 19th to March, 20th. We are implementing a regressive discount structure. Thus, the earlier you get involved in the token sale the largest is the discount. For more information, check out our article Taylor’s token sale prices and discounts explained.
The sky is the limit for the future of the Taylor service and token. Once our service is in place and fully operational we will start looking into the implementation of countless possibilities for future developments that would add value to our service, and in return to TAY as well. We are working hard to create the best, simplest, and easiest trading application for cryptocurrencies in the world. The value of the token is only the consequence of a great product executed and led by an excellent team. The more value we generate for the product and its users, the higher the token value will be.
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Find more detailed information about the Taylor service, and our upcoming token sale at https://smarttaylor.io.
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