Backters token (BACKT) has a fixed total supply of 14.4 billion. These tokens are stored in a smart contract wallet ready for distribution.
BACKT tokens are automatically streamed from the smart contract wallet to holders of USDBK, a special returns token, over a period of 90 days.
USDBK is designed to provide substantial returns to its holders. Specifically, it offers a 144% return, paid out in USDC (a stablecoin pegged to the U.S. dollar) over a period of 1000 days. These payments are made in equal increments directly into the holder’s chosen wallet.
There are two main ways to acquire BACKT tokens. Firstly, an individual can purchase USDBK tokens, which automatically initiates the streaming of BACKT tokens to the holder. In addition to receiving BACKT, they will also be entitled to the 144% return associated with USDBK. Alternatively, BACKT tokens can be directly purchased from existing holders or from a decentralized exchange such as Uniswap.
BACKT token holders are given the opportunity to trade their tokens for USDC. This opportunity is offered through a lottery-like system, where holders are selected on a monthly basis. The traded BACKT tokens are then returned to the smart contract wallet, ready to be streamed to new USDBK token holders.
The Backters system uses the funds acquired from the original purchases of USDBK tokens to generate profit. The profit is then used to pay the 144% returns to the USDBK token holders and to provide liquidity for the monthly winners who trade in their BACKT tokens for USDC.
In order to generate the necessary returns, the funds collected through the sale of USDBK tokens are invested in traditional underlying assets with Backters partners.
The Backters system operates on a streaming payment structure. For the first 90 days after a USDBK token purchase, BACKT tokens are streamed to the new holder. After this initial 90-day period, the USDC stream begins and continues for 1000 days, delivering 144% of the initial purchase value of USDBK in equal increments.
The trading of BACKT tokens and the transfer of value within the Backters system are justified by the added incentive that these tokens provide. Essentially, BACKT tokens can be considered a reward for purchasing USDBK tokens, providing an extra return for token holders. This mechanism encourages more purchases of USDBK tokens and fuels sustained participation and engagement within the ecosystem.
Furthermore, the value of BACKT tokens is indirectly linked to the performance of the investments made with funds from USDBK purchases. Successful investments will ensure the system’s ability to offer the trade-in of BACKT for USDC, thereby maintaining the value proposition of BACKT.
In conclusion, the Backters system is designed to be a self-sustaining ecosystem that offers substantial returns to USDBK holders while also providing additional incentives through the distribution and potential trade-in of BACKT tokens.
This unique model combines elements of traditional investment strategies with the innovative use of tokenomics.