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It is understood that the current trading market is mainly divided into two camps: the exchange of digital assets and legal currencies and the exchange of digital assets and digital assets, which are highly homogeneous. There is a lack of platforms for the exchange of traditional mainstream assets and digital assets.
At this time, the Bitglobal team, which has rich resources in the gold market, digital asset market and exchange experience, discovered a business opportunity. Through in-depth investigation, they found that due to its inherent anti-inflation properties, gold has long been the first choice for high-net-worth individuals to preserve and increase the value of their assets. Therefore, Bitglobal decided to enter the gold market, trying to break through the circulation barriers between the gold market and the digital asset market, allowing users to buy and sell gold with digital assets through the Bitglobal platform.
In the future, in addition to the gold market, Bitglobal will gradually plan the digital development of various types of global assets, and successively launch market-oriented transactions of products such as commodity digital assets and debt digital assets, building a link between digital assets and traditional assets.
It is understood that after Bitglobal goes online, it will conduct an ICO based on Ethereum and issue the blockchain digital asset Global Coin (GBC). Bitglobal will use the income from crowdfunding to build a bridge between traditional assets and digital assets, providing more options for high-net-worth individuals around the world to preserve and increase their assets.
What is GBC?
The token issued by Bitglobal is Global Coin, referred to as "GBC". The total issuance is 10 million, and there will be no additional issuance. GBC is a decentralized blockchain digital asset issued based on the encrypted digital algorithm programming platform Ethereum. It is a standard token based on the Ethereum blockchain.
The proportion of this ICO public offering is 100%, the number of public offerings is 10 million, and the founding team does not hold GBC. During the ICO stage, multiple currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Zcash (ZEC), and Dash are accepted.
GBC's value guarantee
1. Buyback mechanism
After the Bitglobal trading platform is launched, 50% of each profit will be used to repurchase GBC in full and in a timely manner. The repurchase process will continue until all GBC issued by the ICO is repurchased. Each repurchase record will be announced from time to time and supervised and verified by the majority of users. The repurchased GBC is sealed in a fixed account, and users can query it through the blockchain browser to ensure openness and transparency.
2. Value dividend
The biggest feature of GBC is that you will get value dividends if you hold it. Bitglobal will take out 1% of the total issuance, that is, 100,000 GBC, from the repurchase account on August 8 every year to distribute dividends to users who hold GBC at that time (if it is less than 100,000, dividends will be distributed according to the actual repurchase amount). Each user who holds GBC will receive corresponding dividends according to the proportion of holdings.
3. Value transfer
In order to maximize the value of ICO tokens, Bitglobal has launched a new model for free trading between encrypted digital currencies and gold for the first time in the world.
Later, Bitglobal will open a gold VIP exclusive seat exchange mechanism, and high-end users can obtain gold VIP exclusive seats by purchasing a certain amount of GBC. Users with this VIP qualification can freely trade any amount of gold and encrypted digital currencies through the platform. Users can choose the gold exchange rate or the cryptocurrency price to realize asset realization.
In addition, Bitglobal stated that they also cooperate with third-party banks, insurance companies and bank security to provide users with long-term and secure gold storage services.
ICO-related issues
1. Is there an upper limit on the total amount of tokens issued by the Bitglobal ICO? If so, what is the total amount?
The total amount of GBC, the ICO token issued by Bitglobal, is capped at 10 million and will never be increased.
2. What are the specific time, financing amount, token exchange ratio, early bird rewards, and crowdfunding channels of the Bitglobal project ICO?
The Bitglobal project ICO will be launched on July 28, 2017 on the official website of the platform www.bitglobal.com
The first ICO will be released on other ICO platforms one after another. Please pay attention to the official website announcement for specific details, financing amount and exchange ratio.
3. How will the Bitglobal project ICO funds be used?
40% of the funds will be used for Bitglobal’s brand building and promotion, and are committed to making Bitglobal a world-renowned digital asset trading platform.
25% of the funds will be used for Bitglobal's platform operations and employee incentives. After Bitglobal goes online, 50% of the profit income will be used to repurchase GBC tokens. Therefore, the platform needs this part of funds for daily operation and maintenance.
20% of the funds will be used to establish a blockchain public welfare fund, which will provide support for the development and application of cutting-edge blockchain technologies.
15% of the funds will be used for the subsequent development of the platform system and the research and development of new functions.
4. What is Bitglobal’s distribution plan for ICO tokens? Is there a plan to unlock the tokens held by the team?
The proportion of Bitglobal's ICO publicly issued this time is 100%, and the founding team does not hold GBC.
5. After the ICO is over, when will the tokens be issued, when will the tokens be traded, and on which exchanges will they be traded? After the official buyback of tokens, how will the funds of the tokens go?
After the ICO ends (around early August), users can immediately receive and trade tokens on the Bitglobal platform.
Bitglobal will also take out 50% of the platform's profits and continue to use them for the repurchase of GBC until the repurchase of GBC issued by ICO is completed.
Later, Bitglobal will launch spot trading of gold/digital assets, and the repurchased GBC will be used to exchange for gold VIP exclusive seats. GBC used to exchange for gold VIP exclusive seats will be destroyed after the exchange occurs.
Trading platform: Bitglobal
Bitglobal official website: www.bitglobal.com
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