Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future.
TOKENS WILL BE UTILIZED
IN THREE PRIMARY WAYS:
1. Tokens will be redeemable to pay trading, transfer and
other fees at a discount of at least 30%. We reserve the
right to create special promotions and windows where
token discounts on fees will be higher for a period of
time, but they will always be worth a discount of at least 30%. Certain pre-ICO
and early ICO coin buyers will get an additional discount applied to the general
fee discount.
2. Tokens will be the method of payment for the listing of
new asset pairs from projects that also meet our diligence
review for soundness.
3. The company will, after $1,000,000.00 in initial profit
as calculated under standard IFRS rules, use 20% of it’s
quarterly profit from the previous quarter to acquire and
burn SOUK tokens from the market in the current
quarter. The company has the right to purchase tokens
before the $1 million milestone and can, at its option, acquire more than the
required 20% in any given quarter at its sole election. The company will
continue to acquire SOUK tokens until there are less than 5.6 million
outstanding tokens.
However, the company, at its sole discretion, can re-acquire and burn all 52
million tokens originally issued.
