The People’s Choice
BullToken is a new and exciting addition to the cryptocurrency scene. Aiming to give cryptocurrency investors an arena to work together towards a common goal, The BullToken Community Platform(BCP) is the first social media space of it’s kind. Everything revolves around the Community, and the idea that a self-governing group of crypto-investors can work together to become an efficient and prosperous ICO investing machine.
In short, the crypto-market is riddled with ICOs, and this has multiple implications for any investor. Time is money, and with almost 2000 different tokens on the market and that number growing fast, there just isn’t enough time to efficiently sift through every ICO you find. Functioning as one giant symbiotic investing-machine, BullToken hopes to bang out thousands of hours a week of careful and skill full ICO analysis, easily cutting through all the crap out there, not to mention the re-birth of the fast spreading and soon to be popping ponzi schemes of the past. The Community’s collective effort combined with a rewards system for those actively taking part, is a recipe for crypto investor heaven. Especially for all the crypto-influencers out there who are forced to give giants like Facebook and YouTube a huge cut of there content value.
Lets quickly go over the different elements found on the platform. The main 3 elements to learn are:
- The Community
- The IAB
By the way, if you are interested in learning more about the platform, all you need to do is contact the BullToken team on one of their channels. They are always willing to give a personal digital tour of the online Community. This article serves a very very very light Lightpaper to help anyone grasp the general concept of BullToken.
The BullToken Community is a self-governing… well, community. There’s only 2 prerequisites to joining.
- You’ll need to own at least 1 BullToken (ticker symbol:BULL)
- You’ll need access to a computer or a smart phone in order to use the platform.
What does the Community do?
Members use the web/mobile platform to submit ICOs they think look promising, they discuss what they like or don’t like about the submitted ICOs, a.k.a Investment Proposals(IPs), then they vote on the ICOs that the entire Community will be investing in. This process of submitting, voting, then finally investing in the IPs that “win”, is a 4 week time period known as a Voting Block.
VBs always start 2 weeks after the previous VB, resulting in an ongoing and overlapping process of submitting and voting on IPs.
The Investment Advisory Board
The BullToken IAB is a group of professionals who have a very specific function within the Community. To begin with, and until the Community votes otherwise, the IAB will consist of 6 members, and any decisions made on behalf of the Community will require a majority vote in order to be passed.
Currently there are 3 seats being occupied by key members of the company behind BullToken, Bull Tech. Two of the co-founders of BullToken, the CEO and CTO, and a third key player who is yet to be disclosed.
The other half of the IAB comes directly from the BullToken Community. As of today, nobody knows who these people will be, and there’s a great explanation for that. The Community hasn’t held a vote yet! True democracy 🙂
What does the IAB do?
Since IAB members are a part of the Community, you can expect to see them on the discussion boards on a daily basis, and you may be looking to their expertise and sound judgement for advice on where to place your votes. But they do have a very specific role, and it’s a very important one.
The main role of the IAB is to prevent the Community from investing in fraudulent, harmful, or un-ethical ICOs
In today’s highly volatile, fast growing, and un-regulated market, having a team who’s specific job is to weed out the bad seeds is necessary to ensure maximum safety, and not to mention responsibility. Feeding ponzi schemes to make a quick buck is not something they tolerate, and it only hurts the space we are trying to help prosper. Like the vast majority of our crypto-peers, BullToken is only interested in long-term healthy growth.
Being an IAB member will require a significant amount of time, a consistent delivery of quality due-diligence work, and a level of expertise and professionalism that won’t be possible to fool your way into. Once every two weeks, the IAB adjourns to approve or discard IPs based on specific objective criteria already voted into place by the Community.
Karma for Good Deeds
Karma is good for more than feeling good about yourself. On the BullToken Community Platform, Karma will have a value in Ether. The BullToken system is broken up into different levels, and for each new level you reach, the more Karma you have to work with.
Receiving “likes” on your comments gets you Karma, submitting an ICO as an Investment Proposal COSTS you Karma, but if it “wins” the Community’s vote, then you get it all back and then some. Basically, Karma is given to all members for their positive contributions to the Community. So another way of thinking about this is like being an active reddit community member, but getting paid for your contributions.
Start Earning Karma Today
Until the end of the main-sale, all Community members will have the opportunity to earn Karma for their contributions towards building a strong Community. They way BullToken pulls this off in the earliest stage of the project is by providing each verified Community member with his or her own unique referral code. Once the main-sale is over, referrals are of course still welcome, but Karma will no longer be given away. The reason for this is an active effort to not reflect the shady practices of a pyramid scheme. BullToken is first and foremost focused on building the most critical aspect of the project, the Community and it’s members. The best way to do this is by creating an environment where experienced blockchain and cryptocurrency professionals, who also see the value in being a part of the BullToken Community, can already start earning the Karma and “influence” they so greatly deserve.
Certain voting processes are weighted. Your vote’s “influence” is directly related to the amount of Karma you have. If you want a say in where BullToken should be invested, you’ll need to prove your weight in Karma.
Some voting processes need a 100% democratic model, and for those BullToken keeps it simple. Every person gets a vote, and every vote is equal to 1. In order to vote, you need to be a member. To be a member, you need to own at least 1 BULL
The Karma Buy-Back Wallet
5% of all BullToken earnings will go into a wallet reserved for buying your Karma back in exchange for ETH. At a certain point, a member can reach the maximum amount of “influence” their Karma can carry, so anything above this level is free to sell back to BullToken without losing that hard earned influence. If Influence is not your thing, or you’ve been hodling Karma just to sell it back, then by all means, a trade is always welcome.
The Karma/ETH Conversion Rate
The KCR is a simple math formula. Karma is equal to the total amount of ETH in the Karma Buy-Back Wallet, divided by the total amount of ETH on the platform. Trade it, hodl it, just whatever you do, don’t call it a bitch! Karma is NOT a bitch here 🙂
The BullToken ICO
On December 7th, BullToken will open it’s doors to pre-registered and verified investors only. Don’t forget to mark your calendar! During the pre-sale they are only collecting what they need in order to complete development of the first iteration of their product, which is the BullToken Community Platform(Launched before the main-sale begins). The pre-sale is not expected to go the full length of time. Pre-sale dates are from December 7th through December 3oth, but with a modest soft cap, we might be looking at only a few short hours or days of pre-sale duration.
BullToken is excited to say that they will be following the advice of Ethereum founder, Vitalik Buterin, and running what is know as an Interactive Coin Offering, as this reflects a more responsible and fair way of raising capital in the crypto world.