Iwould like to write about Busy coin. Well, the ERC-20 token will be used during the initial phase. The ERC-20 token is in Busy considered as one of the temporary supporting parts of the whole ecosystem. During the token offering and the development period, the ERC-20 token will be used due to its reliable properties and already established adoption. However, as the more advanced blockchain will be required, a mainnet swap will be performed and all ERC-20 tokens will be swapped in a ratio of 1:1 to the Busy mainnet coins.
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The specific use of the coin is that it will occupy the slot and the ratio of the coin to the slot is given by the life-cycle phase of the system (see my previous article where I wrote about the life-cycle phases).
For example, with 1,000 coins, a slot of size “1” will be occupied.
This ensures that the coin will have 100% usability throughout the system. Thus, it will offer real benefits for every holder.
Of course, the coin will also function as the main payment currency on the freelance platform. Users will be able to purchase quality services for coins and as freelancers, they will also receive a reward for their services in coins. Thanks to the use of the coin (respectively demand), its value will also increase. Thus, the number of coins that users have in staking will increase the value of the staking reward.
Users will be therefore positively motivated and interested in the development of a freelance platform.
Given that they will have a share in coins, they will be motivated to use the coins as a form of payment.
Benefits of the Busy
The Busy coin will be a low supply crypto asset with many special features. The main feature will be the utility staking. Our vision is more tokenization of e-commerce businesses. Our coin will be independent and can also collaborate with other networks. Thanks to the atomic swap, you will also be able to pay without having to exchange coins through a third party.
Staking reward will be set to 33% p.a. (see this article for more details about the utility staking), for every active platform user, so every coin holder has a fair share of newly issued coins. This also liquidity on exchanges, for a fully functional global platform we need as many as possible tokens in circulation — to be used as currency on the platform.
But our staking model is not just about staking rewards. The next feature will be minting, which will be allowed only to staking rewards without any exceptions based on technology.
Moreover, every user has the option to choose whether to perform staking — online or offline. This is one of the original solutions, which Busy Technology brings to users.
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If you are interested in the Busy solution, check our website https://www.busy.technology!