Please describe your project. What is it doing to improve Cardano?
Book.io is the world’s leading web3 marketplace for buying, reading, and selling eBooks and Audiobooks. We employ Cardano as our infrastructure to empower individuals, from cryptocurrency enthusiasts to the average user, to truly possess their digital literary works.
What does the Token do? How many holders does it currently have?
The BOOK token is a utility token of the Book.io platform and has the following purposes:
- BOOK will power the Read to Earn™ System
- BOOK will be used to create DEAs (Decentralized Encrypted Assets). The system will be dependent on Creators, Authors, and Publishers acquiring and spending BOOK in order to create DEA digital books for sale
- BOOK are used to access the Reading Analytic Platform by Authors and Publishers
- BOOK is the only acceptable form of payment for certain specific titles
- For all utility use cases, please see our whitepaper (Book.io Whitepaper 2.0. The Path to Decentralize and… | by BOOK.io | Medium)
BOOK currently has 2,903 holders.
Why do you want a MIN Farm? How does the Minswap community benefit from offering a MIN Farm for your Token? Apart from the MIN Farm, will you add your own Token as an incentive as well? If yes, how much?
Sustaining long-term token growth and minimizing volatility hinges on ensuring ample liquidity. To achieve this, we aim to boost liquidity through the implementation of a triple farming incentive program. Most importantly, we’d like to give back to the Book.io and Cardano Community, who have helped us grow into the largest web3 publishing platform.
We plan on committing 20,000,000 BOOK to Minswap farming rewards in year 1. This represents 2.25% of current circulating supply.
How much of your token’s circulating supply is available? Please inform us briefly about your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
The current circulating supply is 891M (8.91%) of the 10B total BOOK
You can see the tokenomics breakdown below:
The tokens allocated to the team and investors are locked for 3 months and will be vested/released equally over the following 21 months.
We thank the Minswap community for considering our proposal.
