Biokript Token ($BKPT) Benefits

100bnbwin
4 min readJul 18, 2023

Offering Biokript tokens (BKPT) to investors is a common way for a cryptocurrency exchange like Biokript to raise funds for its startup and initial operations. This fundraising method is known as an Initial Coin Offering (ICO) or Token Sale. During the ICO, investors can purchase BKPT tokens with other cryptocurrencies or fiat currency, providing them with a stake in the platform and access to its future services and features.

Biokript creates a detailed whitepaper that outlines its business plan, technical specifications, tokenomics, and use cases for the BKPT tokens. The whitepaper serves as a comprehensive document to inform potential investors about the project.

Biokript announces the upcoming token sale, specifying the date, duration, and details of the ICO. This announcement is usually made through various channels, including the company’s website, social media, and cryptocurrency forums.

The token sale period begins, and investors interested in supporting Biokript can participate by sending their contributions in the form of other cryptocurrencies (like Bitcoin or Ethereum) or fiat currency.

Once the token sale period concludes, Biokript distributes the purchased BKPT tokens to the investors’ wallets. The distribution process may take some time to complete, depending on the token sale terms.

With the funds raised from the token sale, Biokript uses the capital to develop and launch the cryptocurrency exchange platform, implement planned features, and carry out marketing and operational activities.

After the platform is fully developed, Biokript seeks to list the BKPT token on various cryptocurrency exchanges. This allows token holders to trade their BKPT tokens and provides liquidity to the market.

It’s essential for Biokript to conduct the token sale in compliance with regulatory requirements and ensure transparency throughout the process. Providing potential investors with a clear understanding of the project’s objectives, risks, and potential rewards is crucial for building trust and attracting support.

The BKPT Token Burn Mechanism Explained

The BKPT Token Burn mechanism serves to regulate the supply of Biokript tokens and stimulate their value growth. This mechanism, implemented via a Binance Smart Chain contract, sets aside a portion of the circulated tokens for burning.

Every month, Biokript executes a market buy order of its own tokens, directly promoting an increase in their price and bolstering investor confidence in the Biokript enterprise.

Under this mechanism, 40% of the Biokript tokens are channeled into the company’s wallet to cover operational expenses such as marketing and salaries. An additional 5% of tokens are allocated for Takaful insurance and reserves.

Remarkably, 10% of the tokens are reserved solely for burning. This process is critical in creating a scarcity that further drives the value of the surviving tokens. The remaining 40% of the tokens are distributed proportionally among all the token holders, ensuring a fair and equitable sharing of profits.

Biokript, as a Shariah-compliant cryptocurrency exchange, employs various revenue streams to ensure its sustainability and profitability while adhering to Islamic principles. These revenue sources align with ethical and responsible financial practices, promoting transparency and trust among its user base.

Biokript may charge trading fees on executed transactions. These fees are typically a small percentage of the trade volume and serve as a primary source of revenue for the platform.

Trading Fees

Biokript exchange charges a 0.20% fee for both makers and takers. To incentivize holding Biokript tokens, users who own these tokens receive an automatic discount on trading fees.

Credit or Debit Card Purchases

A nominal fee is levied on credit and debit card purchases through the platform, fostering a user-friendly environment while generating a steady income stream.

Listing Fee

Biokript is highly selective when listing tokens on its platform, ensuring each project aligns with the security regulations and quality standards of the exchange. To list a token on the platform, projects are required to pay a fee.

Voting Fees

To engage its user community actively, Biokript also charges a voting fee for listing tokens. This practice encourages community participation in the listing process, helping to decide which tokens will be available on the platform.

Moreover, all Biokript transactions occur on the blockchain, guaranteeing transparency and openness, as every transaction is available for audit and review.

In Conclude

Biokript’s Shariah-compliant business model addresses existing challenges in the cryptocurrency trading landscape. By eliminating trade volume manipulation and ensuring the equitable distribution of profits, Biokript promotes ethical and transparent practices in line with the principles of Islamic finance.

The platform’s diverse and sustainable revenue streams, coupled with its clear commitment to shared profit distribution, create a healthy and profitable environment for token holders and the company alike. Biokript marks a significant step towards the development of Shariah-compliant business models that benefit the global financial ecosystem while paving the way for advancements in ethical crypto trading.

Useful LINKS

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Author

Bitcoin talk Username: adibakala
Bitcoin talk profile link: https://bitcointalk.org/index.php?action=profile;u=3403543
BEP-20 Wallet Address: 0x412341Cd2722e7DF760C16A4E53492181197B6bD
POA : https://bitcointalk.org/index.php?topic=5456807.msg62429396#msg62429396

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