Good afternoon. Lets’s say I want to exchange LT tokens to CAB on the internal exchanger. Will its rate be stable always?
Thank you for your question, Sure, the rate is always 1 CAB=1 LT.
Topic: [ANN] BitCab - Ridesharing 2.0 for the blockchain age - page 5. (Read 2064 times)
Sure, the rate is always 1 CAB=1 LT.
What’s the difference between LT and CAB? I’ve tried to read the WP, but it’s written in a too complicated way for a person who isn’t familiar with crypto-currencies at all.
Thank you for your question bars_kz!
The difference is very simple to explain.
- CAB token is a basic unit of exchange in the BitCab ecosystem. All the transactions will ultimately be setteled in CAB. CAB will be traded on exchanges.
- LT - is Loyalty Token. LT can be purchased for CAB on an internal exchange (1 CAB is always equial to 1 LT) and it pays 10% annual bonus if held beyond the vesting period. Moreover, LT gives voting rights
Today it’s incredibly difficult to retain the drivers solely due to financial motivation. How are you planning to solve this problem?
Very good question, spottcoin!in addition to the financial motivation (generated rewards), that we believe is very important, Drivers will acctually be the "shareholders" of the ecosystem, meaning that the ecosystem will actually belong to its participants. They will activelly participate in the day-to-day life (voting, inviting friends, approving, community support etc.)
Does it make sense?
Please let us know if you have any ideas about Drivers' non-financial motivation!
Hi. Your model I very similar to Steemit so I’d like to clarify what are the main differences and what improvements exactly were invented by the Bitcab team.
Thank you for your question, g8stTDasOur crypto economy is very similar to the Steemit (meaning that we have two currencies 1 CAB is always equial to 1 LT, where LT pays 10% annual bonus) and our system generates rewards for user's activity (Like steemit), However our business models are very different! BitCab is ridesharing platform with multiple roles while Steemit is the decentralized social network.
Tu sum up, we have created a solution for ridesharing industry using best practices of Steemit. We have created severaral roles {online/offline approvers (approve new drivers), sages (community support), arbiters (resolve disputes), champions (invites drivers and riders)} and the interaction of the participants.
Please, look here https://bitcab.io/images/work-img.png
Today the companies offering to insure the tokens gain popularity. Does BitCab plan to cooperate with at least one of them?
Thank you, rdizza!Those services are needed for the projects that require additional circulation of coins. CAB tokens will be used in the BitCab ecosystem and beyond, that is why the value will of CAB tokens will grow as the ecosystem grows
Good afternoon. To my knowledge, using Proof-of-Work interferes with the scaling of blockchain. Why did you decide to choose this very approach?
Design decisions of PoW vs. PoS are implicit in choosing the base blockchain (such as ERC20) to build the app on top. We are in discussions with multiple well known platforms currently and plan to announce the decision in the coming weeks. Do I have to rate the driver after the ride? Sometimes I just don’t want or just can’t do this.
Thank you, dort.Like any other ridesharing app BitCab will implement the rating system, however unlike any other rideshring app all your activities, including rating the Driver after the ride, will finally result in rewards in CAB and/or in LT. Here is how the Rider is motivated to rate the ride.
Good afternoon. Will it be possible to become an arbitrator if i have no LT tokens in my wallet? If it wont, how many tokens do i need to have?
Thank you for your question, bars_kz!Unfortunately, the arbiter role is only available to everyone holding at least 500 USD worth of LT.
However you can gain this worth without investing money, but just staying loyal to the ecosystem and receiving rewards for the activity!
Or you may be willing to buy CAB tokens at the pre-sale or ICO.
Please join our whitelist on the bitcab.io and stay informed!
Let’s say i wanna be an arbitrator of yr platform. What should i do for this? Where should i submit the application?
Thank you for your interest!Arbiter role is available to everyone holding at least 500 USD worth of LT. LT you will be able to get in exchange for CABs after the platform launch. We will start accepting application afetr ICO. Please join our whitelist on bitcab.io and you will be informed whenever the registration is open.
You say that the tokens for Generated rewards will be produces later. But wont the tokens be issued before the start of the ICO?
Thank you for your question waitsummer!CAB tokens are available during pre-sale and ICO.
LT (Loyalty Tokens) will be available in exchange for CAB tokens as soon as the platform is developed.
Please note that rewardes in our system is both in CAB and in LT!
Watch our video for more detail https://www.youtube.com/watch?v=-87nX81YfUc
And the reward system is visually available in this explaining picture https://bitcab.io/images/work-img.png
Please let us know if you have any futher questions.
Hi. What’s the nominal price of your token? Will it grow during the course of the sale?
Thank you, woodcoin!The price at pre-sale is $0,017
The price diring the token sale is $0,02
How many tokens are u planning to sell at a discount? I afraid that the growth of the value can be slowed down if there’re too many of them.
500 million tokens (around 15% of all tokens offering to the public) will be sold in public sale at a fixed discounted price of $0.017 during our PRE-ICO. Good afternoon. What cryptocurrencies are available on the ICP? Is it possible to purchase the tokens for fiat with the help of digital payment systems?
Thank you g8stTDas!During the token sale, you will be able to buy CAB tokens.
Sure, you will be able to by CAB tokens on the exchages or convert directly in the BitCab app, using traditional digital payment systems.
Will it be possible to use Bitcab tokens as payment method outside the platform? This would attract attention to the sale.
Thank you for your question, robinzzon!Sure! Like any other currency, CAB can be used to buy and sell goods and services even beyond the BitCab ecosystem. In case of BitCab success, there will be good reasons for wider application of CAB, such as millions (and billions) of users of the currency and it being backed by real value of mobility services it can be redeemed for
Hi. What has more impact on growth of the value of CAB: using them as payment for runs or for making transactions?
Thank you for your question g8stTDas!The main value of tokens is generated by economics around CAB token. All transactions on BitCab blockchain will ultimately be settled in CAB. This will create real demand for CAB token tied to volume of transactions in the ecosystem.
In this sense payment of runs and making the transactions basically represent the same thing.
Will the commission be charged from every transaction made with the help of BitCab? I’m afraid this can have a negative impact on the final cost of products.
Thank you, dort!BitCab will not charge any comissions made in CAB, however some meagre comissions are possible charged by underlying blockchain.
https://ark-invest.com/research/autonomous-taxi-revenues
BitCab will provide the blockchain solution to delineate and allocate this value across different stakeholders in the ridesharing ecosystem based on pre-agreed clear rules enshrined immutably in a trustless, permissionless blockchain
BitCab will provide the blockchain solution to delineate and allocate this value across different stakeholders in the ridesharing ecosystem based on pre-agreed clear rules enshrined immutably in a trustless, permissionless blockchain
Will it be possible to use Bitcab tokens as payment method outside the platform? This would attract attention to the sale.
Good afternoon. What cryptocurrencies are available on the ICP? Is it possible to purchase the tokens for fiat with the help of digital payment systems?
How many tokens are u planning to sell at a discount? I afraid that the growth of the value can be slowed down if there’re too many of them.
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