What is the advantage of owning your tokens? Yours is an exchange, why would you need to collect so many millions of dollars beforehand?
Hi! The advantage of owning our token lies in discounted trading fees, and additional lifetime discount on trading fees for ICO contributors. Plus, we will be doing a buy back and burn program on a monthly basis, in which we buy some of our tokens with our profits and burn them to raise their value. This means we can anticipate a constantly rising price. This is the way we can distribute "dividends", as it were, in a legal way, while having a utility token in place.
Our soft cap and hard cap was determined like this because it involves many expenses to get the BitEsprit exchange up and running. We will need funds to do the following things:
1. to build and maintain the hardware infrastructure that can facilitate the software infrastructure of our exchange (99.99% availability, 1M+ tps matching engine, 100+ markets, etc.);
2. to develop and optimize the software infrastructure, which is again quite an amount of work given that we will be providing a complex and multifaceted service on one single platform;
3. acquiring licenses under the Financial Conduct Authority in the UK is again an element of the project that involves enormous costs ;
4. setting up the security protocols to be compliant with ISO27001 and PCI DSS, as well as acquiring the certificates themselves is also quite an expensive aspect of the project;
5. we anticipate that within 6 months our platform will be profitable; beforehand, we have to be able to stay in business.
In short, we need the funds we would like to raise through our ICO to be able to provide the crypto ecosystem with a trading platform that answers all the needs of the traders
without compromises.
