The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).
Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.
This means at least 90% of the bankroll profit stays within the site each quarter, raising the value of remaining tokens.
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever? If they aren't re-sold, the bankroll can only go up from bankroll profit.
They won't be re-sold no.
Will you burn or sit on them? If you burn them, will you provide proof of burn? Will the token be listed on exchanges?
I will hold them.
I am looking to be listed on exchanges but there's a few more things that need completed before I can make the applications.
Hopefully that will be taken care of by the time the main sale starts.
Hi Dean,
I'm very interested in your re-launch/ico. Could you please go into more detail on the mathematics on future buybacks, after the first one?
How will the buyback price be determined on subsequent quarters - for instance, if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB - will the next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?
Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?
If Betking is buying back with bankroll profits, will the investors that hold their tokens benefit from doing so?
Thanks,
Dave