Introducing Buyback Token
62last monthSteemit5 min read
What is buyback token?
- Buyback token https://steem-engine.com/?p=market&t=BB is a new token to be launched on steem-engine, its primary goal is to grow value to the token.
- There will be a total of 10000000 tokens, 9000000 for sale on the market, 1000000 reserved for giveaways/promotion and running costs.
- There will be no miners, and no extra tokens able to be created.
What is this backed by?
- These tokens are backed by nothing and have no monetary value - With no promise of future profit/return. This is simply a personal experiment and i am not recommending to anyone to join in!. By buying BB tokens you acknowledge that you are purchasing these tokens for a bit of fun and an experiment, you also acknowledge that they have no monetary value and you may not be able to cash out in the future, ONLY buy what you can afford to lose and not a steem cent more!
How do you intend growth to be achieved?
- All new funds from the purchase of Buyback token (ticker symbol BB) will be used to take advantage of the steem delegation market and other growth services. All profits from these investments will be split 50/50..
- 50% will be buying back tokens on steem-engine
- 45% will be reinvested into more Steem power to lease out to compound growth.
- 5% will be invested into steem engine tokens (detailed figures will be given on update posts). Dividend tokens/miners will take priority and profits will be used to buy back BB tokens.
- (these figure is liable to change as i see fit but BB token buyback will never be less than 50% of profits and may be as high as 90%) .....(steem-engine token purchases will vary from 5 - 10%
- To top this of I have just leased out 2500 steem power giving a daily income of 1.4 steem that will be used to start token buybacks strait away. This currently runs for 4 months then will be reevaluated.
- You can track progress from organic buys and delegations on the official account https://steemitwallet.com/@buybacktoken/transfers
- The @buybacktoken account will be seeded with 500 steempower to help lease SP from the start for token buyback/reinvestment.
- Absolutely not! This is anything but a get rich scheme and will take time to hold - you choose how much profit you want to aim for!.
- You can list your tokens for sale anytime you like! at the price of your choosing. Tokens will have a base price of 0.00100 steem per token for the first batch and will be listed for sale in batches of 100,000, the next batch will be 0.00102, then 0.00104. Tokens bought back will be added to the top of the sell wall.
- I will only be listing new tokens on even numbers...Why? to give buyers the chance to sell on the odd numbers without sell walls!
- I will be making a 500 steem buy wall at 5 points under current price - to start thats 0.00095 per BB token, to give buyers the chance of a quick exit with minimal losses incase of change of mind
- You can always track progress on steem-engine, however i will also be doing regular update posts talking about tokens sold, investments made ect.
- This is for you to decide for yourself, one risk I can see is if the steem delegation market were to fail (or drop below 2% returns that it takes to on/off funds to steem engine.) This would effectively make the project be on hold.
- Another would be illness, this could slow down or halt progress.
- I am madstacks, I have been a steem user since July 2017 and have also conducted trades based on trust here in the past selling silver coins for steem. I Want to see the steem ecosystem florish as i know it will and will be staying along for the ride.
- In the event that this experiment is to come to an end - if it is within my power (ie. I am not incapable due to illness ect) Then we would move into "End Game" mode. I will remove organic sell walls and focus on clearing existing seller sell walls, letting people know the project was coming to an end in due course and letting people decide how to price their tokens accordingly.
- any steem power in the @buybacktoken account will be powered down and buy BB of the market (except for 530 steem seed investment and 500 steem early investor token buyback if used and 10% annual inflation on the total of 1030 steem.)
Will this make me rich?
When can i sell my tokens?
Why the gap in batch price, why not 100 then 101 ect?
What If i want out sooner?
How can i track progress?
What are the risks involved?
Who are you and why should i trust you?
What would happen if you wanted to stop?
So lets wrap up here!
Like i said this is just a bit of fun really, thank you for reading and lets see where it goes!