One of the primary features of any cryptocurrency company or blockchain project is the creation of a digital asset. We describe tokenomics as the analytical study of the process of operation of cryptocurrencies or coins within the community of a blockchain project. The meaning of Tokenomics also includes providing information on the type of token introduced by a network, the distribution or allocation plan, and the application of the tokens to improve the services of the project. Sometimes, we can also refer to tokenomics as the study of the creation of tokens, their management, and how they are removed or burned from the system.
The utility of a digital asset or token can stem across different purposes, based on the structure of each project or network. While some may require the token of the ecosystem to engage in governing processes and voting exercises, other platforms may utilize it for only value creation and accessing the features on the network. Some crypto companies give out incentives and rewards for participation and contribution to the growth and success of project plans in the form of their digital asset. Irrespective of the use of crypto coins in any network, we can conclude that it is a key aspect of any project that seeks to gain the interest of investors and crypto supporters, as well as intends to develop a sustainable platform. BeforeCoinMarketCap , as an emerging blockchain project, has its token and it is denoted as BCMC1 .
The BCMC1 Token
BeforeCoinMarketCap developed this crypto coin, the BCMC1 , as a means to actualize the set goals and vision of the network. BCMC focuses on providing useful and relevant information on coins stored in the wallets of its clients, which will help them have updated knowledge on current trading trends regarding each token owned by their clients. More so, BCMC allows users to deliver announcements on digital assets they do not have substantial information on, and this helps to save time for users and enable them to earn more money. The token of the network will facilitate the success of this vision and serve as a reward system for users who obtain approvals on their announcements.
Likewise, the value of the token on trading and exchange platforms will enable the network to attract new members and investors. BCMC1 coin is compatible with the ERC-20 system, as it is built on the Ethereum blockchain network, which makes it supported on all ERC-20 digital wallets. As a network that envisions rewarding users for their work, BCMC is issuing a huge volume of tokens – 10,000,000,000 BCMC1 . The management team has set the starting price for the token at an affordable rate to create more room for different levels of investors, both small, medium, and large. The initial price for each token will be 0.01 US Dollars.
Distribution of BCMC1 Tokens
The development team has strategically planned the approach of allocating the total volume of BCMC1 tokens to different purposes on the network. BeforeCoinMarketCap team has identified six (6) areas that will receive allocations from its total coins in supply. These areas include presale; marketing, airdrop, and bounty; staking; stablefond; community and earning payment; and pre-ICO investors and team payment.
This crypto-project activity often takes place during the initial coin offering. Blockchain projects usually set some amount of the total volume of their token in circulation for this purpose. During this stage in the roadmap of any project, the platform sells some tokens to early investors and members of the public who are interested and intend to participate in the project. Due to the early sell-out, the network usually sells the assets at a discounted price. BCMC plans to sell about 15% of its entire quantity in supply, which is about 1,500,000,000 BCMC1 tokens. If there are remaining coins allocated for this purpose at the end of the initial coin offering activity, they will be burned.
Marketing, Airdrop, and Bounty:
These are important activities performed by crypto projects and they need to use their digital assets. For marketing, creating awareness of your project is essential and crucial, as it helps to advertise the platform to potential crypto stakeholders and enthusiasts. Airdrop is the activity whereby a cryptocurrency network rewards users for completing different tasks, which may include but are not limited to sharing information about the project on social media platforms and submitting their wallet address. Bounty, on the other hand, refers to the reward the network gives to subscribers for performing specific campaigns on the network. Likewise, in the case where not all the tokens are distributed, BCMC will distribute the remaining to the general wallet of the community members. BCMC allocates 700,000,000 BCMC1 tokens, about 7% of total supply, for this purpose.
This is an activity where users can lock up or store their digital assets in the network’s wallet and receive a reward for it. Hence, crypto companies usually allocate some amount of tokens, which they will give users as rewards for staking. About 10%, 1,000,000,000 of the entire token supply is allocated for distribution in rewarding users who stake or lock up tokens.
Community and Earning Payment:
In line with the vision of the BeforeCoinMarketCap to reward members of its community for making announcements on tokens that are not listed on the network, after approval from the management team, the platform allocates the largest amount of digital assets. This huge distribution is based on the plan of the network to empower its users and establish an enabling system where they can make money. BCMC allocates 50%, about 5,000,000,000 BCMC1 coins for rewarding users who can get approval for the information provided on other tokens.
This is a new and innovative activity and about 5% of the total supply of BCMC1 tokens is set aside for it.
PRE ICO Investor and Team Payment:
The distribution of tokens is also allocated for crypto investors who invest in the project even before the initial coin offering (ICO). This allocation extends to the team members of the project who put in efforts to develop the project. About 13%, 1,300,000,000 (1.3 Billion) BCMC1 tokens are reserved as incentives for both pre-ICO investors and the team. However, these tokens are locked on three different wallets for 3 years, and certain percentages will be released each year.