Topic: [PRE-ANN][ICO] Public Owned Multi-Pool [MUNCH] BlockMunch.club Token (Read 964 times)
December 27, 2020, 10:47:39 PM
November 12, 2017, 06:17:06 PM
Hi Everyone!
INTRO
I would like to introduce a brand new token I am spearheading! I am an operator of a new Multi-Pool BlockMunch.club. The goal is to become the largest Multi-Pool with the most coins on the net, and that will also follow with the most users. Currently we have a fee of 0.25%, and plan to keep it that way until we have a loyal miner base, so the capital generation is slow currently. Since we auto-exchange on the backend there is also some revenue on the backend as well. Knowing all the facts we need capital in order to expand! We are also planning on assisting new miners how to monetize their current PC hardware! And eventually selling ASIC's through our site to increase revenue! This brings me to my next topic!
ICO/Stock Market Approach
Currently every pool is owned by one or a group of people. They have been successful at this approach but we want to be the most successful. So, our idea is to make the pool a publicly owned pool using the stock market approach or an ICO! This way we will have the capital to expand and also stockholders to pay out dividends (tokens) too. We are going to start our ICO with a TOKEN quantity of 1,000,000 tokens. And the tokens will be re-issuable to account for profit and loss. The plan is to sell off half of the tokens (500,000) @ $.25 each for a $100,000 ICO. The remainder will be held as 50% equity in the company, and the tokens will be sold in the case of needing more funds. We will also be purchasing back coins with profits in order to keep the market price higher then the ICO price. And in the future we plan to hold quarterly buy back options to regain more of a share of the pool at a % determined at the time higher then market value.
Use of Funds
The use of funds will vary throughout the process of expanding the pool. Below are the determined percentage of what we plan to use the coins for initially.
10% of funds - Purchase coding work to help implement new unique features to our pool, and "sexy" up the pool's appearance.
10% of funds - Server hosting, upgrades, and expansions.
20% of funds - Advertising / We will be advertising to new miners to help them monetize their GPU's and increase our market share of miners.
60% of funds - Will be held for future expansion or when the above buckets run out of value. This may also be used to purchase help for the pool.
Price Retention Market Buy Backs
Just like in a real stock market our goal is to keep token price high to keep investors in our program! To do this we will be utilizing a few strategies.
- We are going to reinvest 40% of profits back into purchasing the tokens currently on the market. This will create upward pressure for the price!
- We will offer a quarterly buy back program and pay a % more then market price based off profitability of the pool. This will incentivize holders to hold or sell back to BlockMunch.club and will keep sell orders off the market.
- We will offer dividends of more tokens with our token stock or the tokens we are repurchasing back from the market. This will incentivize holders to remain holders as they will be paid dividends based on the profitability of the pool.
This post will be updated with more information as we get further down the line. Also feel free to post below or PM me for any additional information. All information that needs to be public will be added to this ANN. This will be a WAVES token and the token will be added in the next few days after we receive feedback and concerns from the community.
Until the token is launched any details in this post may be modified.
Please feel free to reply and let us know what you think, or if you see an issue with anything we have posted!
Jump to: