Brickken, a start-up focused on simplifying the process of security token offerings (STOs), has announced plans for the initial coin distribution (ICD) of its BKN token. There's a initial limit of 150 million BKN, with 8% or 12 million tokens being deposited in tranches into the Uniswap pool to ensure the stability of the token. It's an ERC-20 token on the Ethereum network.
The initial open price will be set by the relationship between the BKN coming from the tokenization fee and the amount of money raised by all the companies brought on chain by the protocol. Brickken plans to develop a DAO to provide community members with decisional powers on protocol upgrades. Incentivising the self-sustainability of the ecosystem by using BKN as a vehicle of investment, the STO factory will incorporate a reward/penalty system by which good actors will receive staking in the form of BKN, while bad actors will be penalized, seeing their BKN deposits slashed, and will be included on a blacklist.
The distribution of BKN tokens is interesting too. A big amount is available to the public for sale, which means that anyone can get involved in the platform. There are also portions set aside for the team, development, marketing, and legal/compliance expenses.
One thing I find really great about BKN tokens is all the different things they can be used for on the Brickken platform. Obviously, you can use them to invest in real estate assets, but you can also pay transaction fees and participate in governance and decision-making processes. Plus, there are exclusive features and benefits that can be accessed through the token!
The value of BKN tokens is determined by different factors, but ultimately it comes down to supply and demand. Explained, as more people use the Brickken platform and invest in real estate assets, the value of BKN could increase. And the team is planning to introduce even more incentives and reward mechanisms to make holding and using the token even more attractive.
Brickken held a Community Sale of 25,000,000 BKN tokens at a 50% discount on the pre-established price of $0.16 USD per token. The sale was on September 1st, 2021, and ended on March 31st, 2022, subject to market conditions. The funds raised will be used to support Brickken's operations, development and upgrades of the dApp, talent acquisition, marketing activities, and cash reserves for unexpected contingencies. Investors can subscribe their interest by emailing ico@brickken.com, and allocation of tokens will be done on a first come, first serve basis. Community sale token buyers will receive wrapped BKN (wBKN), and once exchanged, can begin liquidating their positions. The token supply is limited so it will not be diluted in the future.
WBKN holders will have one opportunity to stake their tokens, with three closed periods of time: 12, 18, and 24 months. The yields for each period will be distributed among participants who deposit wBKN, with a maximum stackable amount for each period. The amount obtained will depend on the wBKN deposit divided by the total amount of BKN on the selected staking option, which will progressively decrease as more wBKN join until the maximum amount allowed is reached. Smart contracts will be available from January 2023.
Brickken is offering a Strategic Sale of 25,000,000 BKN exclusively for institutional investors. This is a great opportunity to not only invest in the company but also bring valuable corporate know-how and expand Brickken's network with Centralized Exchanges (CEX), Market Makers (MM), Key Opinion Leaders (KOL), among others. By investing in this sale, you'll be a strategic partner who can help position the company in a prime position.
The first Public sale started in March 2023 and offering a discount of 31.25% for investors. The sale will have a vesting period of 18 months, during which a linear dripping distribution structure will release 0.185% of tokens per day. The second sale will follow the first and offer a discount of 18.75%, with a vesting period of 12 months and a distribution structure consisting of a 20% release at TGE+3 days and a linear dripping of 0.242% per day starting from the second month.
The Brickken team will vest its tokens in stages. The vesting schedule will be linear in time and will last 5 years and 10 months starting from September 1st 2021 for shareholders (equal to 90% of the 16,67% of tokens allocated to the team) and 1 year starting from September 1st 2021 for employees (equal to the remaining 10% of the 16.17%).
Brickken has allocated 28.33% of the initial supply as a war chest, which will be used to fund;
Bounties. Hackathons. Protocol upgrade rewards. DAO creation and funding. Ecosystem incentives.
These tokens can be sold through a private or public sale in the Uniswap pool only after the BKN has been launched.
Overall, I think the tokenomics of Brickken and BKN are pretty fascinating. It's always exciting to see how blockchain technology is being used to transform industries like real estate. Show Less
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