CARDbuyers is digital cryptocurrency project which allows you to purchase gift cards with BCARD coins.
The Road Ahead
Thank you!
Yes, I know it’s an odd way to start a post, but the truth is we are grateful. We’re grateful to those that have been with us from the start, that stuck it out through dip and moon and dip again. It is your belief in our project that gives us the strength we need to power through and ensure our vision comes to fruition.
Unfortunately, our path hasn’t always been easy and the lackluster manner in which Cryptobridge handled our exploited coins left our funds severely diminished. Nonetheless, we remain committed and confident that with your support, we’ll pull through like always.
We do however, have a long road ahead of us, but as Lao-tzu so eloquently put it: “A journey of a thousand miles begins with a single step”, and the first step in this new path is rethinking collateral and rewards.
But…But Why?
Well, the ultimate goal is the long term viability of the project. But let’s break it down and explain how we feel a change can help spruce things up and how it affects you?
Collateral Change & ROI
We all know that first impressions are important and when it comes to Masternodes, the first impression is almost always ROI! Far too often, new investors will shy away from a compelling project such as ours if the ROI doesn’t seem inviting.
Unfortunately, the more masternodes that come online, the worse ROI gets. So instead of attracting new investors, existing investors compound rewards and create more and more masternodes. It’s a vicious cycle but one we can try improve.
Therefore, once we reach block 120K, the collateral needed to run a masternode will double. 5k BCARD will no longer be recognized as valid collateral and all masternodes will cease to function. There will be subsequent collateral increases at various stages which you can see here.
We expect 2 possible outcomes from increasing collateral:
1.The mere fact there will be fewer masternodes online, means each masternode will receive rewards more frequently. This in turn, along with increased rewards (more on that later), should provide a better first impression in terms of ROI;
- Incentivize hodling and therefore prevent dumping. This should decrease supply circulating on exchanges and hopefully help raise the value of BCARD.
Undoubtedly the thought going through your minds will be ”Great! Now I’ll have half the masternodes I had!” Yes, that’s true, but the frequency with which you get rewards will increase and balance things out.
Reward Structure
Another way to improve ROI and attract new investors is increasing block rewards. Therefore, we will introduce a new reward structure which during the next two stages will increase block rewards to acompany increasing collateral and maintain ROI attractive, and then slowly decrease in order to prevent inflation. Once again, you can see the new reward structure here.
As you can see, after stage 3, rewards per block slowly start decreasing as the collateral continues to increase. Again, the intent is to promote hodling or trading in order to acompany the evolving collateral.
DEV & Marketing Fund
As I stated earlier, our funds are severly diminished. This makes it hard to adequately invest in marketing and development. Therefore, we are including a 7% DEV fund which will be used to fund marketing campaigns, pay for further listings and development. Once we reach stage 5, DEV fund will be disabled since there should already be adequate funding.
OK, I’m Convinced. When and How?
We will share detailed instructions closer to the time, but it will involve a mandatory update to both your wallet and masternodes. This update will need to be done before block 120k which is expected on November 1, 2018.
But Wait! There’s More.
It seems unfair to me to ask you to continue on this journey without giving a little something back. Therefore, as a token of gratitude and teaser of things to come, we will be sharing with the community an MVP at the same time these changes go into effect. This MVP will allow you to register an account and navigate the store as you normally would but purchases won’t be enabled yet.
Links:
Website: http://cardbuyers.skypool.fr/
Discord: https://discord.gg/wQgdPYc
Twitter: https://twitter.com/CARDbuyersCoin
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