The Block is a blockchain-based marketplace, built on the Ethereum public blockchain. The BitBoost token (BBT) will provide sellers with listing power: BBT will be used to pay the listing fee, in order to sell items on The Block. A total of 100 millions tokens will be issued on the Ethereum blockchain using a smart contract. Our BitBoost token (BBT) will comply with the ERC20 standard and will be freely transferable on the Ethereum platform. These tokens will be the only BBT ever issued.
As shown above, 41 million BBT will be reserved for the main token generation event (TGE). If part of these tokens are not sold during the main TGE, they will be used for future sales and will be locked for a minimum period of one year. These remaining tokens will be sold at a significantly higher price than the initial pre-sale of 25 million and the main-sale tokens. They may specifically be used for:
1. Continuous business development of the BitBoost ecosystem after the launch of The Block, including strategic or business users, or token swaps with other blockchain and distributed ledger projects.
2. Legal fees, compliance, accounting, and consultancy expenses necessary to ensure that BitBoost continues to operate in a lawful and commercially sound manner.
3. Various marketing and promotional activities for BitBoost, such as media exposure, events, and PR.
Compensation for future contributors to The Block from the 12 million tokens reserved for this purpose is at the sole discretion of the founding team. Details regarding future asset sales or related joint ventures to fund the development of The Block advanced features will be announced in due course.