ONECENT - What Are You???
Refer to this introduction post on a new Steem-Engine token:
Call it "investing" or call it a "blockchain game"... it's actually a bit hard to determine what this might be exactly.
The token price starts at 0.01 STEEM and increases in steps of 0.01 STEEM. There is no upper limit to the price.
Each price point will have a fixed number of tokens issued.
This is set at 990 tokens priced at 1 cent, with a sliding scale down to 10 tokens priced at 99 cents. If we ever get above 99 cents then there will be a fixed 10 tokens for every one cent increment. It is easier to see this distribution graphically on the DEX.
So the concepts pretty simple on the chart:
It's basically a ascending amount of layered sell walls. You decide how far up people will be willing to buy, and when those who have bought will begin to sell (when/if they even do). Heck, in some sense Bitcoin kind of works on somewhat of a similar principle if you think about it.
Anyways, this could be fun.
In the very least, it's an excellent concept to introduce a new token & lock up some STEEM into the now booming STEEM token economy. More so, the one thing I'll give it props for is that it's unlikely to have NO value. At some point the majority will have bought at a level higher than those willing to sell out and are less likely to be willing to take a loss. This might actually add some price stability.
Only 3 hours from release, I just had to be a sucker and buy some.
Haha... why not, right?