After nearly two years of product development with CryptoControl, we’re super proud of what we’ve built and the success we’ve seen so far.
CryptoControl this year from the last has:
- Acquired popular social news aggregator, coinbuzz.stream
- Driven about 150mn impressions and roughly 1mn clicks to crypto publishers so far.
- Launched our much anticipated Crypto Trading Terminal
While our growth has been tremendous so far, for a very long time we’ve always wanted to thank our users for contributing the most and we never could find out a way to properly do so.
Which is why we here at CryptoControl are very proud to announce that we are now launching our very own CryptoControl (CCIO) token. With this token we’re taking things to the next level by allowing our users to literally have a share in CryptoControl’s success and earn massive benefits from it’s growth.
In this post we explain how.
What is CCIO?
CCIO is a cryptocurrency which basically represents a share within CryptoControl. It pays out regular dividends and can be used within the CryptoControl platform itself.
CCIO tokens are publicly accessible on the Ethereum blockchain as ERC20 tokens and can be traded easily on any Ethereum-based exchange including, CryptoControl’s very own decentralized exchange.
CCIO tokens are fixed in supply (1 billion CCIO tokens) and have a wide variety of features and benefits for it’s token holders, each of which is explained below.
1. CCIO tokens are earned, not bought
By not allowing CCIO tokens to be bought, we allow for two things to happen:
Because earning tokens is a lot harder than buying them and since we’re also not conducting a token sale/ICO, there will be a scant supply of CCIO tokens.
And since CCIO tokens will have utility within the platform, there will be demand for the tokens as well. Since supply will (most likely) be lesser than the demand, the token’s value should grow overtime.
2. Holding CCIO tokens will earn you regular monthly dividends from CC’s revenue
Just like how any public company would give away quarterly dividends to all it’s shareholders, CCIO tokens will behave exactly the same by giving monthly dividends from CryptoControl’s revenues to all existing CCIO token holders.
For example, if CryptoControl’s monthly revenues for the month of Jan 2020 is $100,000; then CryptoControl will convert 15% of it (which is $15,000) into Ether/TrueUSD/DAI and distribute it to all CCIO token holders proportionately.
Which means, if you are holding about 10% of all CCIO tokens in circulation; then you’re entitled to receive 10% of $15,000, which is $1,500 in dividends. This will repeat month after month as long as you hold CCIO tokens in your wallet.
Dividends are paid out either in the form of Ether, TrueUSD or DAI.
(Terms & Conditions will apply)
3. CCIO tokens can be used to pay for the terminal’s license and HODLers benefit!
Unlike equity shares of any regular company, CCIO tokens have special utility wherein they can be actually used to pay for CryptoControl’s terminal license as well.
By paying for a license with CCIO tokens, these tokens get burnt and the total supply of tokens decreases. This is designed so that long-term CCIO token holders will benefit since they’ll now own a larger percentage of CCIO tokens and hence receive a larger portion of future dividends.
For example, let’s say there are 10,000 CCIO tokens in circulation and you own 1,000 CCIO tokens; this means that you’ll now own 10% of all the tokens and are entitled to receive 10% of CryptoControl’s dividends.
Now suppose someone decides to pay for CryptoControl’s terminal license with 2,000 CCIO tokens; Since those tokens will get burnt, the total supply of tokens reduces to 8,000 CCIO tokens.
But since you already hold 1,000 CCIO tokens; this implies that you’ll actually now own 12.5% of all the tokens and are entitled to receive 12.5% of CryptoControl’s dividends instead of 10% previously.
4. CCIO tokens have a fixed rate, for use within CryptoControl
CryptoControl will always accept CCIO tokens at a fixed rate of 1$ = 1000 CCIO tokens irrespective of the price on other markets/exchanges. This gives the CCIO token an underlying value which is backed by CryptoControl itself.
For example, Let’s say you happen to buy 10,000 CCIO tokens from someone for just 1$. And suppose you wanted to buy something from CryptoControl using these tokens.
Because CryptoControl always values 1$ to 1000 CCIO tokens, this means that you can actually claim 10$ worth of services by spending your 10,000 CCIO tokens.
In reality though, you’ve only spent 1$; which means in effect this would be a 90% discount. (The 9$ loss is borne by CryptoControl if the tokens go below the 1$ price).
5. We don’t plan to do an ICO anytime soon
While we don’t want to make it a habit to keep on fundraising, going the ICO way is clearly the most probable and the highest-ceiling route for CryptoControl.
Doing the ICO has a couple of major issues and for which we’ve decided to not do any token sale for at least the next 2–3 years. We explain our reasons below.
5.1 Waiting for Regulations to clear out: As more and more attention draws to the crypto space, a lot more ICOs have come under the eyes of regulatory bodies (like the SEC) for selling unregistered securities to investors.
Unfortunately a lot of the ICOs to date were straight out scams and as such have given a bad light to the entire ICO concept. Until we see any clarity on regulations coming into this space, we won’t be conducting any ICO of any sort and won’t claim any profits by selling our own tokens.
(Note: We’re keeping an eye on security tokens and STOs, and might possibly upgrade CCIO to a security token depending upon the developments in the space)
5.2 Drive more organic demand for CCIO tokens: CryptoControl has planned to give at most 60% of all CCIO tokens to it’s users over the span of the next 3 years.
This means that until an ICO happens, a massive chunk of CCIO tokens will be owned solely by CryptoControl’s users and interested parties will have to buy CCIO tokens from these users and not from CryptoControl directly.
This in turn will drive organic buy/sell activity amongst token holders and we believe this will improve the token’s liquidity.
5.3 Maturity of the product: It takes a lot of time and effort to build a product that’ll drive massive value to our users and that can truly disrupt the entire crypto industry.
While CryptoControl’s terminal launch has been incredibly successful we still want to remind ourselves that there’s a very long way to go.
Which is why our team is 100% committed and focused in putting at least 2–3 year’s worth of product development before we raise any money from the public via an ICO/IPO.
Note: By not doing an ICO, this does not mean that we intend to stay private for a very long time; because majority of our tokens will already be distributed to the public before the ICO happens, it will mean that the CCIO tokens will already be traded across many exchanges, CryptoControl will certainly behave like a public company.
With the launch of the CCIO token, we here at CryptoControl strongly believe that we’re setting the right example for future crypto-startups to follow and that for the first time we’ll be able to properly make our users literally a part of our success.
So join us in this journey and start earning your own CCIO tokens when you sign up with CryptoControl. For more information on other ways on how you can earn CCIO tokens, visit our token page here.