The KaratBank Coin is a speculative digital coin that is available worldwide, although its value is largely related to the price development of pure gold. It has a quantity commitment of 12 billion coins. The initial price of the KaratBank Coin applicable at the beginning of the Pre-ICO is USD 0.01. However, this price will increase by USD 0.01 per week during the Pre-ICO and ICO period.
The KaratBank Coins will be available on major cryptocurrency exchange platforms such as Poloniex, Bithumb, Bitfinex, Bittrex, etc. The coins will be permitted to float and be traded p2p. The price of the KaratBank Coin will be determined by market forces and cryptocurrency exchange mechanisms, as well as by the global gold prices. Users will be able to buy and sell the KaratBank Coin using fiat currencies and cryptocurrencies. The KaratBank Coin is an integer and is not available in fractional amounts.
Currently, Karatbank collateralizes 10,000 tokens (KBC) with an amount of 0.1 grams of gold during the ICO phase. The goal is to eventually get a ratio of 1 KBC (coin) to 0.1g gold thanks to an annual profit distribution of Karatbank Singapore and its subsidiary Karatpay in the amount of 20%.
To create this stable balance, both the profits from KaratPAY's worldwide revenues of gold transaction fees as well as the profits from the worldwide sale of CashGold flow into the asset backing. By the solid backing of the coins with real gold funded by the mentioned profit distribution, the Karatbank Coin will soon experience a tremendous appreciation.
Basic numbers:
Total volume at the start: 12,000,000,000 tokens = 120 kilograms gold
Target value achieved by annual profit distribution in the amount of 20%:
12,000,000,000 tokens = 12,000,000,000 x 0.1 grams of gold
Basis of the calculation: 35,000€ per kilogram gold = 4,200,000,000€
More details coming soon! Stay Tuned!
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