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January 09, 2019, 04:06:59 PM |
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In honour of Bitcoin’s 10th anniversary I have issued a token on the Stellar Network called SBTC.
SBTC is the first decentralized token sale where the issuer does not have access to any proceeds from the sale. Both the issuing and distribution accounts are locked and immutable so they cannot be accessed or controlled.
SBTC was created with a fixed supply of 21 million tokens by the following issuing address: GBZ56M7ZV275JKBM4VGZ53RMH6EMVZAI5XSTNSC24UBB5FVNO5TDSBTC
SBTC is released by locking up XLM using Stellar’s decentralized exchange. By trading XLM for SBTC, the XLM is permanently locked by the distribution account. The distribution account has 21 offers of 1M SBTC each, starting at a price of 0.01 XLM and doubling every offer.
The value of SBTC will be backed by the XLM locked in the distribution account, which is set up to receive Stellar's weekly inflation payouts.
SBTC leverages Bitcoin’s scarcity with Stellar’s speed, low-transaction costs, and decentralized exchange.
In order to keep the sale as fair as possible, I am posting this message through many forums and channels of the Stellar and greater crypto community. I believe SBTC could act as a catalyst for greater adoption of Stellar and become one of the most valuable tokens on the network.
- Cryptocol
PS - SBTC’s home domain has been set to Stellarbitcoin.org which is currently an available domain but I am leaving it up to the community to run the website and host the TOML file as they see fit. I prefer to remain anonymous as I am not needed for SBTC to succeed.
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