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BAX (BABB Token)

BAX (BABB Token)

BAX are Utility Tokens available on the Ethereum network and are the lifeblood of the BABB Platform.

CIRCULATING SUPPLY - 33B BAX

MARKET CUP - 11M

The BAX Token

BABB has launched a distributed application platform on which FIAT funds are tokenized. These tokenized funds are used by the BABB APP bank, partner services, banks around the world, and central banks in developing countries. The BAX token is used to manage the services of the platform in all regions and jurisdictions served by the platform. BAX is implemented on the public Ethereum blockchain as an EIP20/ERC20 token. The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts, and is compatible with existing Ethereum ecosystem infrastructure such as development tools, wallets, and exchanges. This active ecosystem and technology makes Ethereum a natural fit for BAX.

Here is an overview of the BAX stream across the ecosystem:

The strategies described below aim to create an active market for BAX with a long-term bias towards token integration, which we expect will result in banks, central banks and service providers building BAX reserves to support their operations using BAX with their customers. to cover licensing costs.

Public (60%)

BABB will be selling 60% of the tokens to the public as part of our token sale.

This will be divided into two steps:

○ 40% sold in the first phase, pre-sale and main sale planned for early 2018.

○ 20% sold in Phase 2 no earlier than 2019 when the app is launched and BAX is used on the platform.

○ All unsold tokens will be burned.

● Team (20%)

The team consists of the BABB direct team, consultants, first members and partners.

Team tokens:

○ locked for 1 year

○ 25% available in six month intervals

● Platform reserve (18%)

A portion of the issued BAX tokens will be held by the BABB platform in reserve. This initial reserve will allow the platform to maintain liquidity in its BAX operations. For more information, see the Reserve Management section below.

● Generosity (2%)

BABB incentivizes the community with the BAX Bounty Campaign. Details of the bounty campaign will be available on the website in due course.

Token Utility

The BAX token is the lifeblood of the platform. All services, fees and licensing of the BABB platform implicitly use BAX. If the user does not have BAX to work on the platform, he can easily purchase the necessary amount from banks on the BABB platform, as well as from other users, online exchanges and other third-party services. For example, the BABB Bank app allows you to purchase BAX in one step without impacting the user experience or requiring the user to take additional steps. The BABB platform adjusts the amount of BAX required for its services based on the average price of the token in the open markets, which ensures a stable price for the end user. It is only natural and beneficial for banks to add a small surcharge to any BAX they sell that covers their own service costs. This paves the way for a fair and healthy banking industry where people only pay for the services they use and retain control over their funds and data. The platform fee is tiny (equivalent to cents of a dollar) for activities such as:

● Opening a new BABB account (commission covered by the bank)

● Send/receive transaction

● Currency exchange

For banks and third-party services powered by the BABB platform, fees also include:

● License fees (for example, the monthly fee that the bank pays to operate BABB)

● Specialized services such as organizing a fundraising campaign.

● Request access to the user's identification information (part of which is paid to the user).

This last point is vital, it creates friction for services that need access to the user's information and rewards the user for sharing some of their data.

BAX is available for trading on a growing number of exchanges with the following market pairs: BTC, ETH and USDT.

Timeline

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

BABB Alpha Test Event

October 28, 2019

BABB Beta Launch Party x Mary's Meals

April 15, 2020

BABB Beta Launch Party x Rafael Landicho

April 15, 2020

BABB Beta Launch Party x Raging Dragons Boat Club

April 15, 2020

BABB Beta Launch Party x Vitae London

April 15, 2020

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