[ANNouncement] - NEW ASSET by crowetic, and mm of BURST and BURSTKORE extended team.
That is correct, we've decided to bring you another asset, the first SILVER BACKED ASSET on the BURST exchange!
The long term goal of the asset will be to allow BURST users to acquire silver at lower than market value, while at the same time holding an asset that pays out great dividends, better than holding silver itself, which obviously doesn't pay dividends!
Overview and some detail -
Bsilver – The first BURST silver-backed asset
Quick overview – A silver backed asset with mining power in GPU, CPU, and HDD mining, and revenue generated by buying/selling silver coins and crypto trading.
Mining power will be 50% paid directly to holders in BURST after converting from whichever other coin is being mined, and 50% going to the purchase of more silver for the asset.
Initial release will be 500,000 assets at 100BURST each. 1000 assets equals 1 oz of physical silver Silver trade-in amount is constantly in flux, and a new page with a calculator and stats is in development. Silver can start being redeemed after 3 months of asset running, by sending 1000 assets per oz required to a set account not yet given out.
The amount of assets needed to acquire 1 oz of silver will change as the asset grows, so that the price of the asset can move as well, the asset will continually acquire more silver and mining power to keep the flow going, and will also trade silver, and crypto currencies to give profits to purchasing more silver, and to payout asset holders.
The percentages of the traded money going to payouts and to silver is up to the asset issuer to decide each month, depending on what seems more important at the time. A minimum of 10% and a maximum of 100% of the profits from trading will go to the asset holders, the rest will go towards the purchase of more silver for the asset.
Any questions feel free to ask, and crowetic will answer. Thank you and long live BURST!
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ASSET ID – 11249475790449858086
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30% of overall asset amount will be split between the asset issuers. Crowetic, mm, and kitsune of the BURST team and extended BURSTKORE team.
More detail can be found here - https://cloud.crowetic.com/s/2dsO3TLzNWmWrvX
both the above document, and a site or forum post that can always be found at http://burstcoin.online (will be active tomorrow) will contain the current asset/silver trade ratio, the amount of mining power dedicated to the asset, and the amount of silver being accumulated into the asset storage.
Any questions feel free to ask. Thanks!