What is BMC token explained by Sergey Vasin, Investment Director.Blackmoon Crypto Token (BMC) is the token of the Blackmoon Crypto Platform. This token plays an instrumental role on the platform:
— BMC tokens linked to accounts of a Continuous Contributors receive all the Platform’s fees from the funds creation and operation on the platform;
— BMC tokens are required to perform certain high level roles on the platform, including that of the investment advisor;
— BMC tokens give the right to participate in the platform’s decision-making process.
The number of BMCs is fixed and no additional creation is possible after the distribution period.
Based on legal advice and opinions we gathered during the preparation process, BMC tokens would not be deemed as securities by SEC based on the famous Howey test and should be considered as an utility tokens of the Platform. We pay a lot of attention to that matter and are in continuous communications with US attorneys while formalizing our position.
1. DistributionThe Distribution period starts on September 12, 2017 at 01:00 pm UTC and will go until October 11 or until the cap is reached. All available BMC will be issued during the Distribution period. This will be a one-time operation and no additional issuance is available for BMC tokens. The total number of BMC to be issued will be calculated at the end of the Distribution Period according to the formula: amount of BMC sold during the Distribution multiplied by 2.
— 50% of the BMCs will be allocated to the public contributors who participated in the Distribution process including bonuses provides to contributors during the promo campaign.
— 30% of the BMCs will be allocated to the Company reserve and locked for a minimum of 36 months. This reserve is a source of the Company’s income after the Distribution Period.
— 20% of the BMCs will be allocated to the founding Blackmoon Crypto team and advisors, locked in a smart contract with a 24-month vesting period, and six-month cliff. Some BMCs from this pool (but not more than 5% of all BMCs) will be allocated to non-operational advisors and will be locked with a six-month cliff without vesting. Up to 3% will go to subcontractors and bounty campaign members without vesting.
2. Continuous contributorsContinuous contributors are the BMC holders who perform specific roles related to the platform development. One of the main roles that will be available is that of an Investment Advisor who manages tokenized investment funds created on the platform. Other roles will include platform ambassadors, promoters, investment analysts and voters, legal advisors, public auditors and GR advisors. A full list of roles will be publicly available and updated as needed to reflect the current needs of the platform’s development.
We plan to introduce more than ten different roles to provide both common and professional holders with the means to participate in the Platform’s development.
To register as a Continuous Contributor the holder of BMC tokens can choose the role that she/he is willing to execute as a contributor to the Platform and deposit BMC to the depository wallet. The registration will be available on the website before the first fund is started.
3. Proceeds.BMCs holders registered as Continuous Contributors to the Platform and who have linked their BMC to respective accounts will receive a share of all Funds’ tokens that operate on the Platform in exchange for execution of their roles.
Continuous Contributors will receive a distribution of Funds’ tokens from the first Fund created on the Blackmoon Crypto Platform without having to wait for the company to reach breakeven.
The sources of the proceeds are:
— Structuring and promotion fee: 0–10% from the amount of the issued fund tokens. On average 2.5%
— Maintenance fee: This can differ from one fund to another, but on average it may be equal to 0.5% per annum paid daily in fund tokens via a smart contract
— Transaction fee: This fee occurs upon transferring fund tokens from one wallet to another in the amount of 0.25% from the token amount paid in fund tokens via the smart contract.
4. Downside protection.We at Blackmoon are strong believers that our solution to create and manage legally compliant tokenized investment funds is the future of the blockchain-enabled asset management industry. We will personally start several funds on the platform to leverage our expertise in alternative fixed income and venture capital. In addition to that, to protect contributors we introduced downside protection:
To protect contributors from dumps the Platform will buy back BMC at $0.8 per token from anybody who is willing to sell. We’ll reserve 30% of raised capital for that in a portfolio of cryptocurrencies. We will keep it working for 24 months.
Handy links:
— website:
https://blackmooncrypto.com — whitepaper:
https://blackmooncrypto.com/bmc_whitepaper — teaser:
https://goo.gl/iGWQ5N — telegram chat:
https://t.me/blackmooncrypto — parent company website:
https://blackmoonfg.comBlackmoon Crypto token sale starts on September 12 and it’s poised to sell out pretty fast. We are also gathering pre-orders at
https://account.blackmooncrypto.comSource -
https://medium.com/blackmoon-crypto/the-bmc-token-d027a0b35cc[/list]
