Monday March 08, 2021
Bitcoin (BTC) $50,749.00   Ether (ETH) $1,742.64
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Altcoins/Investments

Six Signs of the Proper Tokenization of a Cryptographic Project

Published by CryptoNinjas.net
02/27/2018
Six Signs of the Proper Tokenization of a Cryptographic Project

Integrating tokens into the mechanics of how a project works is one of the key criteria for conducting a modern crowdsale. Projects that do not directly use tokens in their mechanics are being publicly recognized as potentially dangerous to buyers. This does not apply to the decentralized retail platform project Hamster Marketplace: our HMT token is fully and organically built into the marketplace’s economic model.

The HMT token is a smart contract based on the Ethereum blockchain, developed for the Hamster Marketplace retail platform for unique gadgets and electronics. The total number of HMT tokens issued will be 10 million, of which 7 million will be released for open trading at $2 per coin in February 2018. Once the crowdsale concludes, the excess unsold and undistributed tokens will be destroyed.

Users that have undergone know-your-customer (KYC) procedures will automatically be able to not just store, but also send and receive HMT tokens both with the hmstr.io web wallet and with their Ethereum wallets. The HMT token will be added to the cryptocurrency exchange listings.

From the very beginning of the platform’s operation, HMT tokens will be used for:

  • paying Hamster Marketplace service fees;
  • making sales without platform commissions;
  • paying for internal promotion on Hamster Marketplace;
  • as a deposit guaranteeing compliance with all requirements for verified vendors;
  • discounts on purchases on Hamster Marketplace when paying with tokens;
  • access to additional Hamster Marketplace features.

Once the beta version of the Hamster Marketplace retail platform launches, the manufacturers represented there will be able to pay for the platform’s services in tokens as they would using other cryptocurrencies and fiat currency, as well as receive discounts. When the public beta version goes live, the internal HMT exchange rate will be set at $10. When using the token to pay for goods, receive discounts, and as a pledge, HMT’s market price as of the transaction time will be used.

HMT Token Holder Privileges

Ability to pay Hamster Marketplace service fee in HMT tokens

The Hamster Marketplace service fee allows for the maintenance and development of the platform. The fee is withheld by the platform from sales as a commission in the currency of the sale, at the minimum possible level for the marketplace to be self-supporting. To save on this fee, manufacturers can pay for it in HMT tokens.

When paid in tokens, the commission amount will be calculated based on the internal exchange rate (HMT ≥ $10, but no less than 125% of the market price). Manufacturers who bought HMT in advance at the token sale price, at a discount during the pre-sale, or on the cryptocurrency exchange can save on the difference between the nominal and actual exchange rate.

Ability to make sales without the platform commission

No commission is taken from sales of goods purchased on Hamster Marketplace for HMT tokens. This allows sellers to give buyers who pay in HMT a discount off the price in other currencies equal to the commission, or slightly smaller to increase their margins.

Method of paying for internal promotion on Hamster Marketplace

As the number of vendors in the marketplace increases (at least 1000 in 2018, 2000 in 2019), the increase in internal competition will create demand for internal promotion tools. Within the marketplace, sellers will be able to make use of:

  • priority in search results and ad spaces;
  • banner ads;
  • the ability to take surveys of users;
  • priority display in the “Recommended” list;
  • email messages (such as ad spaces in service messages);
  • and other options under development.

These can be paid for in both fiat currencies and cryptocurrencies, including HMT. The price of advertising options in HMT will be calculated based on the internal exchange rate (HMT ≥ $10).

Deposit to guarantee vendor compliance with Hamster Marketplace requirements during verification

Vendors who have not accumulated enough points to pass verification under criteria not related to product quality or key business processes, having to do with auxiliary parameters, may begin selling on Hamster Marketplace by submitting a deposit in HMT.

If the terms of the deposit are violated, the vendor’s sales will be frozen, and they may be removed from the platform entirely. If all the terms are fulfilled, the tokens are added to the vendor’s account in the marketplace.

No commission on purchases on Hamster Marketplace when paying with tokens

HMT tokens provide special terms not just for manufacturers, but also buyers on the platform. Tokens may be used to pay for any purchases on Hamster Marketplace, even if the seller has not specific HMT among the payment options they accept. At payment, the marketplace automatically converts the HMT tokens into one of the currencies accepted by the seller at the market exchange rate.

Access to additional Hamster Marketplace features

HMT token holders will have access to information on not just the goods and manufacturers available on the platform, but also the list of projects under verification and even vendors who were rejected. HMT token holders will also be able to see sales statistics for various categories of goods, including the average purchase amount, the total number of purchases, and the demographics for Hamster Marketplace buyers, both for individual categories and for the platform as a whole. This will be a unique trove of information both for manufacturers and for IT journalists or simply fans of new tech.

Conclusion

Unlike in many other projects, the HMT token is not just a tool for conducting the crowdsale and raising funds; it is fully integrated into the marketplace’s economic model. Using HMT as a primary payment method will offer significant savings for both users and manufacturers.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale
Security

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake
Strategic Integration

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain
Networks & Protocols

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion
Capital Raising

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow
Crypto Exchanges

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version