Token Spotlight: BOOK
2/15/2024
Launched in February 2020, Book.io has emerged as a groundbreaking multi-chain Web3 marketplace that revolutionizes how eBooks and Audiobooks are bought, read, and sold. By leveraging Decentralized Encrypted Assets (DEAs), it offers readers the ability to truly own, and subsequently sell, their digital books on secondary marketplaces, ensuring that these assets live on the blockchain forever. Integral to its ecosystem, the platform’s native token plays a crucial role in facilitating transactions, rewarding content creators, and enhancing user engagement through a decentralized finance (DeFi) model. This article delves into Book Token, its tokenomics, liquidity, and more.
Distribution & Tokenomics
BOOK has a total supply of 10 billion tokens. Currently 969.17 million of these are in circulation, equivalent to 9.7% of the tokens supply. At 0.0602 per BOOK, this gives the token a market cap of $34,560,913 and a fully diluted market cap of $356,601,375, placing it at #9 in the Top 50 tokens on Cardano.
Currently, there are 5,987 wallets holding BOOK, up 1.92% in the last 7 days, and 10.36% in the last 30 days. Nearly 40% of these addresses are holding the token 90–180 days, underscoring the dedicated community behind the project. BOOK token has a Median Holder Balance of 7.5K BOOK equivalent to 449.41 ADA, and an Average Holder Age of 84.78 days.
The graphic provides a detailed breakdown of the BOOK token’s allocation strategy, highlighting that half of the tokens are reserved for the Read to Earn Loyalty Program. Additionally, 26% is allocated to support the team, advisors, and facilitate business acquisitions, with 9% dedicated to development efforts. The remainder of the token supply is distributed among various needs, including exchange liquidity and engineering tasks, showcasing a comprehensive approach to resource allocation within the ecosystem.
Liquidity
BOOK token has 2.48 million ADA in liquidity across 4 Decentralized Exchanges on the Cardano Blockchain. The vast majority of this liquidity is on Minswap which holds 97.78%, followed by Sundaeswap at 1.60%, and Vyfinance coming in third with 0.60% of the tokens liquidity.
Volume
There have been 30,265 BOOK trades amounting to a Lifetime Trading Volume of 33.76 million ADA, which is equivalent to 716.06 million BOOK token. 17.18 million of this was buy volume and 16.59 million was sell volume. The shrimp wallet size (0–5K ADA) leads the trading volume, followed by the fish wallet size (5–25k ADA), and finally the swordfish wallet size (25K-100K ADA) coming in third place. The vast majority of this trading volume has taken place on the Minswap DEX.
Utility
We’ll now delve into a few of the various utilities that BOOK token has to offer.
Read-to-Earn Model
In a future update the Read to Earn model will reward readers with $BOOK tokens for their engagement and consumption of content, incentivizing reading and interaction within the platform.
Royalty Payments
The token is instrumental in the payment of royalties to authors, publishers, and other parties involved, ensuring a fair distribution of earnings.
Access to Analytics and Advertising Platforms
$BOOK tokens grant access to reading analytics and the enterprise advertising platform, aiding authors and publishers in understanding readership patterns and effectively marketing their works.
Exclusive Content Access
Authors can require $BOOK tokens for entry into social book clubs that offer exclusive content, interactions, and merchandise, adding value to the community and reader experience.
Conclusion
Book.io carves its niche at the intersection of digital innovation and literary tradition, pioneering a new paradigm for the digital book market. Powering its ecosystem, the $BOOK token transcends mere transactions to redefine book ownership and community engagement in the blockchain era. It will be interesting to see how the Book.io ecosystem evolves across the various blockchains it integrates over the coming years.
You can find out more at the following link: https://book.io/
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem. Token info was accurate at the time of writing.
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