Topic: OST | SIMPLE TOKEN -- Blockchain Infrastructure Empowering New Economies - page 14. (Read 32620 times)

Is there any plan for you to create plugins for Open Source CMS applications such as Wordpress or for social networking and forums system like the Invision Power Board for example?

Hi! Thank you for the nice words. We won't stop posting updates here, no worries.

You can also join our announcement channel on Telegram Simple Token Official

Wow I'm really impressed. I've heard the first time about Simple Token at nearly the end of the ICO and now I'm so happy that I had the chance to participate in it, what a great project.

Please don't stop sharing your progress on Bitcointalk, it's really difficult to follow on Telegram the whole time.

T is the Word Press of cryptocurrency. They will develop cryptocurrencies for other companies as a paid service. It’s so much easier and more efficient for companies to log in to the ST sweet and mint their token with ST services as opposed to creating everything from scratch. Think of the major companies that use CRM as an example from the business world. Companies using CRM wouldn’t create their own platforms but rather they might use salesforce or Zoho software.

Here’s the best thing about ST [make sure you’re seated for this]. Whenever a company decides to mint their tokens with ST, they must purchase a large stake of ST which will drive up the value significantly (keep in mind that companies can’t simply decide to dump these coins like the vulture day traders do, the supply they hold will be stacked to be used by their consumers). As these tokens get used by the consumers of these companies, demand for ST grows with the success of these companies. There’s already 9 companies that have shown interest with 50+ in the pipeline. In the long run, this will create a massive network across multiple companies, all using ST and pumping ST with their success. The tokens will also be tradable across the network (meaning from one company to another). The team is lead by an very successful internet entrepreneur Jason Goldberg.

This is a true utility token. What that means is that it is not going to rely on day traders and your common cryptocurrency investor who hangs around the exchanges to pump it. It will gain its value from the companies that will purchase ST. Just recently an announcement was made that ‘Kryptonite 1′ has taken part in the token presale of the Simple Token project (“OST”) with an initial investment amount of USD248,783. This is just the beginning.

Fantastic news about new exchanges. Great job ST Team!

We're happy to announce that Huobi exchange has been confirmed for OST.

Deposits will all be available from 20:00, January 10 (GMT+8).

OST spot trading will be available from 16:00, January 11 (GMT+8).

Simple Token (OST) withdrawals will be available starting January 12.

Simple token is a sleeping giant. So much going for it. 20x by end of year minimum

We're happy to announce that Huobi exchange has been confirmed for OST.

Deposits will all be available from 14:30, January 10 (GMT+8).

OST/BTC and OST/ETH trading will be available from 14:00, January 11 (GMT+8).

Simple Token (OST) withdrawals will be available from 14:00, January 12 (GMT+8).

At current market cap, $OST sitting on $100M fund to invest in OST-powered startups. Latest blog post: Partnering with OST

Love this project. Going to $2 next week im sure!

Message:
Is there a specific number of tokens that a company would have to buy to fulfill the service?


Simple Token response:
Simple Token We are setting this up in a "pay as you grow" model like AWS and Stripe. Companies should be able to start small and grow as demand for their tokens grow. So, companies can stake as much as needed to support their initial token outlays to start and then stake more and their customers demand more of their tokens. We're working on exact pricing model.

Also, a 3rd party could "loan" the stake for a company in exchange for a monthly fee at a premium. e.g. a 3rd party could stake $1M worth of OST for a company, and provide price stabliziation and other services to them, for say $50,000 per month over 24 months.

We'll be better prepared to talk pricing after Simple Token Alpha release in the coming weeks.

I'm really excited about this!!

Latest blogpost: Join team Simple Token and help bring Blockchain to the mainstream!

A company before minting their first branded tokens can set the exchange rate of OST to BT at any rate you desire, but once you set it, it is fixed and cannot change. That ensures that companies don't change the rules on their customers.

So, let's say OST is trading at $1, and you set your exchange rate to 1 OST = 1000 BT. Then, each of your BT is initially worth $0.001.

The price of the BT does not fluctuate on its own, as it is not tradeable on secondary markets. So, each BT is always worth 1/1000th of and ST.

However, OST does fluctuate and could go to $2 or $10, or $.50.

A few factors come into play there.

First, price oracles could be used to set prices withing the company's branded token economy so that even if ST goes up and down, the relative price of the good or service in the Token Economy does not change. For instance, let's say in the example above that you allow your users to earn $.01 each time someone likes someone else's product review. By setting the value of the service at $0.01 using the price oracle, it would start off at 10BT per liked review, but would auto-adjust to say 20BT per liked if OST rose to $2.

The other concept that can be deployed is price stablization mechanisms. The company could sign up for a 3rd party to provide price stabilization to insulate its end users from price fluctuations. Imagine for instance if your user above earned 100,000 BT worth $100, and then the next day it was only worth $50 or suddenly was worth $250. The user would either lose faith in the system or could start hording or cashing out. With price stabilication mechanisms, the company could insulate its end users from wild swings in OST price, while the company uses upside for reserves/buffer against downward swings, a swell as the company could retain some profits from OST increases.

In general it would be nice to enable end users of BT to participate in at least some of the rewards of OST rising because of the community support for the various BT's, but at same time price stabilization mechanisms could be used to guard against unintended consequences from wild swings. https://docs.google.com/document/d/1V6MZjojOYwVL8xoPQ09Pgzs93FUzBHLapcjcWOMHu18

This sounds awful!  Issuing coins to your customers that can then become more valuable than you wish, thus creating customer backlash!  Am I missing something essential, or is this not a huge red flag for merchandisers?  What price stabilizers could actually be used?  Shielding customers from the fact that their BT's are worth more?

I feel like helping companies create their own independent ecosystems is a great goal.  INDEPENDENT being a key word.  Now, you'll have several companies tied together, loosely, and a confused customer base.

really the coin looks very promising at first glance, it's a pity did not see your project before.
where now can buy OST?

Is there any news of adding OST/ST to the new exchanges?

This is big:



So not only will companies be able to easily tokenize their business, they will also relase API's to app developpers for them to build OST based apps and earn OST by doing so.

Latest blog post from our CEO, Jason Goldberg, on Medium: Insider Reflections on the ICO Bubble Part III: 2018 is when crypto begins to move from speculation to utility.

That is true. I have talked to Jason (the CEO of Simple Token) about it. Theoretically there is no limit, but if you make 1000 Branded Tokens (BT) out of 1 Simple Token (OST), 1 BT would only have a value of $0.001 if 1 OST = $1,- 

To further detail.. this is what Jason said on the matter:

"A company before minting their first branded tokens can set the exchange rate of OST to BT at any rate you desire, but once you set it, it is fixed and cannot change. That ensures that companies don't change the rules on their customers.

So, let's say OST is trading at $1, and you set your exchange rate to 1 OST = 1000 BT. Then, each of your BT is initially worth $0.001.

The price of the BT does not fluctuate on its own, as it is not tradeable on secondary markets. So, each BT is always worth 1/1000th of and ST.

However, OST does fluctuate and could go to $2 or $10, or $.50.

A few factors come into play there.

First, price oracles could be used to set prices withing the company's branded token economy so that even if ST goes up and down, the relative price of the good or service in the Token Economy does not change. For instance, let's say in the example above that you allow your users to earn $.01 each time someone likes someone else's product review. By setting the value of the service at $0.01 using the price oracle, it would start off at 10BT per liked review, but would auto-adjust to say 20BT per liked if OST rose to $2.

The other concept that can be deployed is price stablization mechanisms. The company could sign up for a 3rd party to provide price stabilization to insulate its end users from price fluctuations. Imagine for instance if your user above earned 100,000 BT worth $100, and then the next day it was only worth $50 or suddenly was worth $250. The user would either lose faith in the system or could start hording or cashing out. With price stabilication mechanisms, the company could insulate its end users from wild swings in OST price, while the company uses upside for reserves/buffer against downward swings, a swell as the company could retain some profits from OST increases.

In general it would be nice to enable end users of BT to participate in at least some of the rewards of OST rising because of the community support for the various BT's, but at same time price stabilization mechanisms could be used to guard against unintended consequences from wild swings."

Keep in mind they stake their coin at a ratio to Simple Token.  So they can use one ST to create 10, 100 or 1000 of their personalized token (the ST team may have limits to the ratio but so far I haven't heard any).

But of course since having a valuable token is very important, companies are naturally motivated to keep their ratio as low as possible.

So, it WILL create demand on the token, but the supply is probably going to be ok.

People will be trading the branded tokens in for ST and spending them throughout the network, so companies will always have to buy more in order to keep value in their social media platforms. 

So, I misspoke a little before.  Companies won't necessarily be holding, but from time to time they'll have to be refilling their supply.  I suppose companies will do both!