Hatchworks (spectre.ai) — Spectre.ai to issue two token types!
It is my pleasure to announce that the group has decided to issue both, a dividend paying token and a token with in-platform utility. Our pre-sale is at the end of October.
SPECTRE.ai, short for speculative tokenised trading exchange, is a dramatically different approach to the classic, fraud-ridden financial trading model where brokers regularly tamper with platforms, engaging in unethical behaviour with financial traders and clients. Examples of this behaviour include tampering with price feeds, freezing withdrawals and trading on the client’s behalf without permission. Instances of fraud are rife across the binary options and FX industry with regulators across the globe struggling to contain the problem.
SPECTRE.ai will be offering two tokens during the ICO token sale, a dividend-token and a utility-token. The purpose of having two different types of tokens is to cater to all types of investors; ones that value yield above all and others that favor token liquidity over yield, as the utility-token will be featured in more exchanges than the dividend-token due to their different nature.
The holders of the dividend-token obtain a 2% dividend stream paid at the end of the month (and a special dividend at the end of the year), while the utility-token holders receive higher payouts and a wider variety of assets inside the SPECTRE platform as well as participation in the token buy-back program. The SPECTRE.ai team will be using around 3% of fees generated (after payouts to dividend-token holders) to engage in a token-buy-back program whereby as a vote of strong confidence in its business model, it will be buying SPECTRE.ai utility-tokens on an ongoing basis.
The token-buy-back program is relatively new to the ICO space, although not unique. By removing excess supply of utility-tokens in the market and thereafter, burning them, this creates scarcity in supply.
“The most efficient use of our capital, apart from customer acquisition, would be to not let it waste away in a non-interest bearing ethereum wallet or bank account but instead show our token holders our confidence in SPECTRE and further support the utility-token price.” commented Oto Rem Suvari, the group’s R&D Director and engineer behind the token-buy-back program. The group plans to purchase up to 15% of utility-token supply over a multi-year period and plans to retire the tokens, once on balance sheet.
Warning: The information contained in this post is not a solicitation to invest. All ICO participants should carefully go over all the risks described in the whitepaper on the token-sale website. The token-sale is strictly closed to U.S citizens and a range of technical measures are in place to ensure citizens from restricted regions (as outlined in the token-sale T&C), including the U.S, will not be able to contribute.
