Re: ✅✅✅【ANN】【ICO】GCOX THE WORLD'S FIRST DECENTRALIZED ⭐CELEBRITY⭐ TOKEN EXCHANGE✅✅✅
Am i right in this example?
PacMan creates his own token thru GCOX, then if PacMan wants to sell one of his boxing gloves priced at his token, then any fan who wants to buy it should should buy AML first then PacMan's token?
PacMan creates his own token thru GCOX, then if PacMan wants to sell one of his boxing gloves priced at his token, then any fan who wants to buy it should should buy AML first then PacMan's token?
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Yes this is correct sort of, our native token name is ACM.
Here is an excerpt from the whitepaper that I think answers your question.
Whitepaper page 12 Section 2.2.2
ACCLAIM TOKENS
Celebreneur The word Celebreneur is a portmanteau of the words "celebrity" and "entrepreneur". GCOX aims to be the springboard for
celebrities to enhance their entrepreneurial spirit and become a successful entrepreneur or in their case, a celebreneur.
There are three programmes within GCOXs' Celebreneur platform.
They are:
1. Celeb-merchant
2. Fan-merchant
3. Celeb-auction
Celeb-merchant provides celebrities with a platform to enhance their existing businesses or product lines, and encourages them to
venture into entrepreneurship. This platform will allow celebrities to conduct transactions of goods and services for their existing
businesses.
The Fan-merchant programme will provide opportunities for fans to be merchants on the platform of their favourite celebrity, subject
to their agreement. It is also able to leverage on the celebrities tokens for payment.
Lastly, the Celeb-auction programme will allow celebrities to auction their items or memorabilia through this program. There will be
standard items and special items to be auctioned. The item will go to the highest bidder after a set time has passed.
This enhances the functionality of the Celebrity Token; celebrities can thus continue to expand their influence globally as accessibility
for fans to purchase their goods and services will improve drastically. This in itself is a major business opportunity as there are
currently many potential customers who are currently not able to access these goods and services.
Here is an excerpt from the whitepaper that I think answers your question.
Whitepaper page 12 Section 2.2.2
ACCLAIM TOKENS
Celebreneur The word Celebreneur is a portmanteau of the words "celebrity" and "entrepreneur". GCOX aims to be the springboard for
celebrities to enhance their entrepreneurial spirit and become a successful entrepreneur or in their case, a celebreneur.
There are three programmes within GCOXs' Celebreneur platform.
They are:
1. Celeb-merchant
2. Fan-merchant
3. Celeb-auction
Celeb-merchant provides celebrities with a platform to enhance their existing businesses or product lines, and encourages them to
venture into entrepreneurship. This platform will allow celebrities to conduct transactions of goods and services for their existing
businesses.
The Fan-merchant programme will provide opportunities for fans to be merchants on the platform of their favourite celebrity, subject
to their agreement. It is also able to leverage on the celebrities tokens for payment.
Lastly, the Celeb-auction programme will allow celebrities to auction their items or memorabilia through this program. There will be
standard items and special items to be auctioned. The item will go to the highest bidder after a set time has passed.
This enhances the functionality of the Celebrity Token; celebrities can thus continue to expand their influence globally as accessibility
for fans to purchase their goods and services will improve drastically. This in itself is a major business opportunity as there are
currently many potential customers who are currently not able to access these goods and services.
EDIT:
Whitepaper page 36 Section 5
The ACCLAIM token serves as a means of exchange for the many different Celebrity Tokens corresponding to different celebrities.
The ACCLAIM tokens enable users to purchase the various Celebrity Tokens as well as their associated merchandise and services on the
platform.
Key features of the ACCLAIM token include:
ACM is the only token accepted for all Celebrity Tokens ITS.
Users who subscribe for ACCLAIM tokens during the ACM ITS will also receive a one time 20% bonus of Applause tokens.
For further information on ACCLAIM, please refer to Section 7 of this whitepaper entitled Launch Summary
Whitepaper page 36 Section 5
The ACCLAIM token serves as a means of exchange for the many different Celebrity Tokens corresponding to different celebrities.
The ACCLAIM tokens enable users to purchase the various Celebrity Tokens as well as their associated merchandise and services on the
platform.
Key features of the ACCLAIM token include:
ACM is the only token accepted for all Celebrity Tokens ITS.
Users who subscribe for ACCLAIM tokens during the ACM ITS will also receive a one time 20% bonus of Applause tokens.
For further information on ACCLAIM, please refer to Section 7 of this whitepaper entitled Launch Summary
Celeb tokens> ACM> BTC and other pairs.
correct me if im wrong.
very simple and easy to understand explanation on how celebrity token works and how can it be transform into a cash. i am bit worried how will the value of acm tokens increase and how do investors gain profit?
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Here are some excerpts from the whitepaper that may answer some of your questions.
Section 1.3
Value Proposition:
Celebrities, fans, and participants will benefit greatly from this platform. They will be able to use these tokens to
redeem for various services that the relevant celebrity may provide, under our specialised Celebreneur, Celeb-connect
and Celeb-charity platforms.
Section 6.5
Future Developments on the ACCLAIM Blockchain
6.5.1 Proof of Trade Concept and Trade Mining
Proof of Trade was conceptualised from a rebate model that rewards users for trading on the GCOX platform. The Applause
Tokens (APL) are gas tokens that control the utilisation of GCOX platform resources. The APL tokens allow users to
transact on the ACCLAIM Blockchain. With a total supply of 1 billion APL tokens, 20% (equivalent to 200 million tokens)
are pre-mined during the Genesis block and the remaining 80% are currently generated through a decay algorithm as
explained under Section 6.2. We intend for the Applause generation model described under Section 6.2 to eventually
transition to the trade mining model as further described below. The Proof of Trade utilises trade mining and rewards
traders and users for their trades on the GCOXs decentralised exchange (DEX).
Trade Mining
Trade mining is an innovative concept that rewards users who trade mine on the DEX, based on their trading value.
In addition to incentivising traders on the DEX, this concept allows them to participate in the generation process of
the remaining APL tokens.
6.5.40
Block rewards from trade mining serve two functions and will be distributed in the ecosystem via the following manner:
1) Trading Fees & Trade Mining Block Rewards
APL tokens in the block rewards will be generated and awarded to Trade Miners trading on the DEX instead of to the
Speaker Node. This reward system continues until 1 billion APL tokens have been reached, including the 200 million APL
tokens pre-mined in the genesis block. The number of APL tokens awarded will be equivalent to the ACM value of the
trading fees incurred by each trader on the DEX. APL will be awarded each time a new block is created based on the
trades to be recorded in that new block.
Trading Fees on DEX
On the DEX, all trades will be subject to a 0.01% trading fee in addition to the 0.01 APL network fee. The minimum
trading fee is equivalent to the smallest quantity of the respective tokens, in 8 decimal places. This 0.01% fee will
be awarded to the Speaker Node that validates the transactions during block generation.
Trade Mining Block Rewards
For every 1 ACM value of trading fee incurred, users will receive a block reward or trademining reward of 1 APL,
in a one-to-one (1:1) ratio.
For example:
In a trade of 50 ACM tokens for 20 PAC tokens:
Buyer will incur a trading fee of 0.005 ACM tokens (0.01% of 50 ACM)
Seller will incur a trading fee of 0.002 PAC tokens (0.01% of 20 PAC)
The 0.005 ACM and 0.002 PAC trading fees (0.01%) will be awarded to the Speaker Node that validates the transactions
during that block.
Both buyer and seller (trade miners) will be rewarded based on the above-mentioned 1:1 ratio. Given that the trading
fee incurred is 0.005 ACM, they will each receive 0.005 APL.
This trade mining rewards system continues to be the mechanism that releases the remaining 800 million APL tokens until
the maximum supply is reached.
Section 1.3
Value Proposition:
Celebrities, fans, and participants will benefit greatly from this platform. They will be able to use these tokens to
redeem for various services that the relevant celebrity may provide, under our specialised Celebreneur, Celeb-connect
and Celeb-charity platforms.
Section 6.5
Future Developments on the ACCLAIM Blockchain
6.5.1 Proof of Trade Concept and Trade Mining
Proof of Trade was conceptualised from a rebate model that rewards users for trading on the GCOX platform. The Applause
Tokens (APL) are gas tokens that control the utilisation of GCOX platform resources. The APL tokens allow users to
transact on the ACCLAIM Blockchain. With a total supply of 1 billion APL tokens, 20% (equivalent to 200 million tokens)
are pre-mined during the Genesis block and the remaining 80% are currently generated through a decay algorithm as
explained under Section 6.2. We intend for the Applause generation model described under Section 6.2 to eventually
transition to the trade mining model as further described below. The Proof of Trade utilises trade mining and rewards
traders and users for their trades on the GCOXs decentralised exchange (DEX).
Trade Mining
Trade mining is an innovative concept that rewards users who trade mine on the DEX, based on their trading value.
In addition to incentivising traders on the DEX, this concept allows them to participate in the generation process of
the remaining APL tokens.
6.5.40
Block rewards from trade mining serve two functions and will be distributed in the ecosystem via the following manner:
1) Trading Fees & Trade Mining Block Rewards
APL tokens in the block rewards will be generated and awarded to Trade Miners trading on the DEX instead of to the
Speaker Node. This reward system continues until 1 billion APL tokens have been reached, including the 200 million APL
tokens pre-mined in the genesis block. The number of APL tokens awarded will be equivalent to the ACM value of the
trading fees incurred by each trader on the DEX. APL will be awarded each time a new block is created based on the
trades to be recorded in that new block.
Trading Fees on DEX
On the DEX, all trades will be subject to a 0.01% trading fee in addition to the 0.01 APL network fee. The minimum
trading fee is equivalent to the smallest quantity of the respective tokens, in 8 decimal places. This 0.01% fee will
be awarded to the Speaker Node that validates the transactions during block generation.
Trade Mining Block Rewards
For every 1 ACM value of trading fee incurred, users will receive a block reward or trademining reward of 1 APL,
in a one-to-one (1:1) ratio.
For example:
In a trade of 50 ACM tokens for 20 PAC tokens:
Buyer will incur a trading fee of 0.005 ACM tokens (0.01% of 50 ACM)
Seller will incur a trading fee of 0.002 PAC tokens (0.01% of 20 PAC)
The 0.005 ACM and 0.002 PAC trading fees (0.01%) will be awarded to the Speaker Node that validates the transactions
during that block.
Both buyer and seller (trade miners) will be rewarded based on the above-mentioned 1:1 ratio. Given that the trading
fee incurred is 0.005 ACM, they will each receive 0.005 APL.
This trade mining rewards system continues to be the mechanism that releases the remaining 800 million APL tokens until
the maximum supply is reached.