Updated mechanics of the IBTN token

IBTN news

Despite the fact that this is not an exchange token, but only a bonus (we will talk about an exchange token later), nevertheless, we are also interested in the growth of the reputation value through the growth of the value of one of the offered products (like most of its holders, we hope ). Of course, after using the IBTN token on the platform by our clients, we saw all the disadvantages of its current implementation. Perhaps the most important is unlimited emission in the absence of sufficient motivation from customers to burn it. But we would not want to give up such interesting mechanics as burning to control the level of emissions.

In addition to this, we are well aware that there is simply no need to stimulate the purchase of tokens from newly placed projects, since this is already the safest point of entry into the market for a new coin. Also, we, like any other platform, are interested in increasing the volume of trading in tokens of projects that are listed on our platform in order to popularize them. At the current stage, we want to propose a kind of comprehensive solution that will complicate the emergence of new IBTN tokens, improve the motivation for customers to burn it, and stimulate trading in IEO tokens.

Updated mechanics of IBTN token distribution

1) the issue corresponds to the volume of the new IEO tokens;

2) 10% is accrued in proportion to all participants who managed to buy IEO tokens at the start;

3) 40% (10% for the first two weeks, 10% for the next 4 weeks, 20% for the next 6 weeks) is accrued in proportion to the trading volume of the corresponding IEO token;

4) 25% (similarly for weeks 5% - 5% - 15%) is accrued for retention on the trading account in proportion to the volume and time of retention among all those who keep on the trading account;

5) 25% (similarly for weeks 5% - 5% - 15%) is accrued for holding in the Wallet balance account in proportion to the volume and time of holding among all those who keep it on the balance account.

After the IEO, the same number of IBTN tokens will be issued as before, but only 10% of the newly issued tokens will be distributed among those who bought on the placement, the remaining 90% will be issued over a period of time as a reward for transactional mining and holding the IEO token. We don't want to limit anyone in the choice of trading strategy and introduce analogs of “investment instruments” that simply block part of the tokens from entering the order book, so we want to give people the opportunity to choose how to receive additional bonuses in the form of an IBTN token.

It should be understood that pp. 4-5 is not a "block", but a free hold, including, if tokens on a trading account, then with an established sell order. Moving from one pool to another (balance account or trading), the client claims the corresponding remuneration of the corresponding pool.

Example: the client kept the tokens on the balance account for a first week and on the trading account with the order placed in the order book (optional) for a second one. For the week of holding on the balance sheet, he will receive IBTN in accordance with the distribution in this pool, and for the second in accordance with the distribution in the pool of the trading account.

The pools of clients holding the token will constantly change, due to the desire to receive more rewards in IBTN tokens. For example, if there are a lot of orders in the order book, this means that many clients keep the token on the trading account, which means that holding on the Wallet will give more IBTN tokens for the same time, the opposite situation is also true.

Monthly jackpot mechanics

To further stimulate transactions, we are introducing a completely new progressive jackpot mechanic, which will be drawn once a month. To participate in the drawing, you must have burned at least 0.005 IBTN!

The jackpot will be generated at the expense of commission fees from trading and the minimum guaranteed fund.

The distribution will take place as follows:

- 65% to the winner;

- 10% is carried over to the jackpot of the next month;

- 10% among 10 random participants (participants, not tickets);

- 15% to the one who invites the winner.

1 ticket is credited for every 0.1 BTC traded (the total traded volume of buys and sells). Please note, that the volume of purchases and sales at the placement price doesn't count towards the lottery!

For completing various random tasks (published in advance), tickets will be awarded from 1 to 10 (depending on the complexity of the task).

Each ticket has the same chance of winning, but the number of tickets in the drawing is unlimited, as is the number of tickets per user. Thus, the most active customers will have a higher chance of winning the jackpot, however, even a customer with one ticket for the entire month will have such a chance.

Already in the first drawing of the jackpot, its guaranteed value of at least 2 BTC will be set, but the final size will depend on the activity of each of you. Deals “with oneself” will be counted, and all IEO pairs (current and future), as well as the IBTN / BTC pair, will be available to form the jackpot and fulfill the conditions.

There will also be an additional guaranteed prize pool for the partner. The partner whose referrals collect the maximum number of tickets during the drawing will receive 0.5 BTC!

The possibility of obtaining tickets starts from 09.09.2020.

We hope that these mechanics will be able to sufficiently slow down the emission of IBTN, but we are considering other more aggressive measures for this, if the current ones are insufficient. We read all the comments and wishes of our customers, accept constructive criticism and try to compare all this with our product release plans in order to turn the our platform into the best tool for working in this area.

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