The membership fees for boon coin are in fiat currency. How do these fees in fiat, get converted to additional value for Boon coins? What will be the main drivers for increasing the value of boon coin?
Do you think they'll be any revenue sharing in your approach in the future?
Also, to anyone who is just reading about boon coin now - check out their Telegram. The developers were very happy to answer my questions earlier and point me in the right direction on their whitepaper and website.
Membership Fees : No membership fees are not in fiat, its in Boon coin or ether as of now, but in the next version we will implement BTC and Zcash payment.
The value of Boon coin goes up as our business grows. Our hard cap is 20 million which is super low compared to our competitors market cap of 1.3 billion dollars. I included only top two players. Freelancers contribute
1.4 trillion dollars in US economy alone. Reference below.
Freelancers are going to be major work force by 2027 again reference below.
There are
currently 57.3 million freelancers in America alone.
We have a hardcap of 6000 USD per person, which means our coin investors cant dump Boon Coins because no one will hold more than 6000 worth of boon coins at a time.
We can use many other coins in the platform, not just Boon Coin. Anyone can convert any alt coin to ethereum and use it in the platform. we are not dependent on just Boon coins to increase the revenue.
When someone use ethereum in the platform to hire someone, we immediately convert that into Boon dollars. In order to convert ethereum into Boon dollars, its converted into Boon coins and then to Boon dollars.
So always there is demand for boon coins if anyone does an activity in the Boon Tech platform.
Basically Boon coin is only one currency used in the platform. But we need boon coin for hedging.
Revenue sharing : Yes we share revenue for the platform users. All high earners and high spenders get rewards of our market share every year. We allocate 10% of our coins just for this purpose.