Review revised from 2 stars to 4 stars after being part of an AMA with the CEO.
Tokens that are bought:
- 25M of community sale ([raised $2M at $0.08] obtained from discussing with their CEO
- 26.5M of strategic sale ($2.65M raise at $0.10) I think not all of it is filled yet, they are reserving some for future partnership unless I'm mistaken.
- 6M of public 1 aimed at raising $660K at $0.11 (currently underway and filled at 84% as of this moment)
- 6M of public 2 aiming to raise $780K at $0.13 (not yet started) (https://www.brickken.com/bkn-token))
total 63.5M token of total supply of 150M
Overall, once they launch the IDO, they have to put $1.92M to match the 12M token of the liquidity pool but they raised $6M from previous round.
Tokens that are earned or given for free:
- 42.5M of Treasury
- 25M of Team
- 12M of liquidity pool
- 2.5M of advisors
- 1.5M of airdrop
- 3M of community incentives
total 86.5M token of total supply of 150M
Given the size of the liquidity pool, unless they use a liquidity bootstrapping pool, it would imply there is $1.92M in liquidity for people to sell, but investors got a discount, and more than 50% of the supply is in the hand of the team with a 5% non linear vesting per month. The information is not public, so I would urge the team to release the vesting period and more details on that part to make sure the community understand what they are buying into. Based on their model, the team will vest within 36 months all their allocation. Advisor within 12 months, etc. Without going in all the details since the information is private, there should be 4.2M token in circulation at TGE. So, assuming a price of $0.16, that's $672K of potential selling volume, which mean the liquidity pool can absorb it but with significant potential volatility if the selling volume is large compared to buying volume. The good thing is they have a revenue stream that feed into their war chest that they can use to buyback token if they opt to protect their token value. Details on this would also be good to obtain, but I would understand if they chose to keep that information private to prevent legal hurdle and risks of being labelled a security token.
The CEO was kind enough to join an AMA to discuss the project, and agreed to change the website to reflect better what the service is, etc. So, that's a big plus in terms of transparency.
The reason why I give 4 stars is because I personally don't like pre-minted token allocation with short vesting period. Given they have a real revenue stream, I would have offered a % of that revenue to potential investors instead of selling tokens. However, that's a personal preference and nowdays there are nearly no tokens that are released without pre-minted token allocation, and some still thrive, while most undergo pump and dump lifecycle. I don't know yet which of these BKK will fall under since it highly depends on the community intention (will they be real users, or speculators with a short term mindset?) Show Less
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