Announcement on the launch of HBC Mainnet and BHT Token Swap
Overview of HBC Token
HBC is the token for the Mainnet of HBTC Chain which will upgrade the current ERC20 version of BHEX Token (BHT). HBC inherits the rights and interests of it's predecessor BHT Token. HBC represents the key element for the three businesses of Bluehelix which includes HBTC Exchange, HBTC Chain and Bluehelix Cloud. HBC carries two major innovations:
A .Brand New 10x Repurchase (PE) Model
HBTC will use 100% of the business income in the brand new 10x PE repurchase scheme. HBTC will conduct a daily repurchase of HBC in the secondary market on HBTC Exchange with the formula (10x PE = HBC price / annualized income of HBC * 10) which creates a support for HBC and a solution to the drawbacks of buyback-and-burn which has no effect on increasing the price of token but the platform business keep growing.
B. Brand New HBTC Captain Incentive Model
HBTC will use 50% of the HBC tokens obtained from the daily repurchase scheme to reward the HBTC Captains for their contribution to the exchange. Any user who holds 1000 HBC can apply to become a HBTC Captain. The role of a "HBTC Captain" is that of a value-sharing with platform co-builder of HBTC Exchange. HBTC Captains use their influential capabilities and expertise to help expand and maintain the HBTC community and to drive trading business and project listings for HBTC Exchange. HBTC Exchange will share the growth in revenue with our Captains through the brand new 10x Repurchase (PE) model.
The goal of a HBTC Captain is to create a new concept of self-employment in the new century. Its working style is similar to that of Amazon Merchants and Youtuber. However, unlike Amazon Merchants and Youtuber, HBTC Captains will receive not only commission-sharing through mechanisms such as invitation rebates but will also benefit from the growth of HBTC Exchange.
One : Details of HBC
Token model: HBTC Captain Token
Token Symbol: HBC
Issuance blockchain: HBTC Chain, mainnet token.
Total Supply: 21 million, all converted from the current circulation of BHT (401,629,892 BHT + 100,000,000 BHT in tokens lockup)
HBC Token Mining Distribution: Mining of DPOS Nodes staking with an annual increment between 0.5% to 3%
Mining Block Reward: HBTC Chain is an innovative cross-chain technology that provides the fundamental infrastructure for the decentralized custody and DeFi business for encrypted assets. A Supernode can generate its income from transaction fees by processing blocks and blocks reward. It is mainly a form of interest paid for a Supernode who contributes to the growth of HBTC network. The interest rate is from 0.5% and 3% per annum. Currently, the tentative annualized interest rate for block reward is 2%. In future, Oracle Predictive Analytics may be used to calculate the interest rate adjustments based on the asset price of HBC. At the current 2% interest rate, the expected pledge rate is 51% which will increase the amount of HBC by 1.1% every year. Supernodes and Holders of HBC will benefit from the fresh supply of HBC generated by Mining Block Reward because this will increase their stake in HBC. The block reward of HBC will gradually be reduced to a minimum of 0.5% per annum.
HBC Explorer: https://explorer.hbtc.com/
Two ： Token Swap From BHT To HBC
1. Swap Ratio: 1 HBC = 23.887 BHT
2. Computation of Swap Ratio: The computation of swap ratio is based on the proportion of token supply and token in circulation. This will help to eliminate any price differences due to price fluctuation. BHT token was issued out through ERC20 with a total of 501,629,892 BHT consisting of 401,629,892 BHT in circulation and 100,000,000 BHT in tokens lockup. The total supply of HBC token is 21,000,000 of which 80.06% of the total supply 16,812,600 HBC replaces the current 401,629,892 BHT in circulation. The other 19.94% of the total supply 4,187,400 HBC replaces the current 100,000,000 BHT in lockup. Our Bluehelix team will gradually unlock the tokens currently in lockup 100,000,000 BHT over a period of 36 months for its business and development expenses.
3. The interest of BHT Holders are protected
Original BHT token has 2,100,000,000 in total, we have buy-backed and burnt 536,318,608 BHT, left 1,563,618,392 BHT . In which 401,629,892 is in circulating in secondary market, 100,000,000 is locked up, The rest is not circulated yet. All the lockup 1,062,051,500 BHT will be destroyed after release from the smart contract.
Pre-swap, the number of BHT in circulation is 401,629,892 which accounts for 25.68% of the total of 1,563,681,392.11 BHT.
Then we support the BHT swap to HBC as 23.887 BHT : 1 HBC
Post-swap, the number of HBC in circulation is 16,812,600 HBC which accounts for 80.06% of the total supply, accounts for 100% of total circulation. The rest HBC is locked up for operation and team supporting purposes.
The swap mechanism completely protects the value of BHT. The number of HBC tokens issued is lesser than the number of BHT in circulation in order to protect the market value of BHT which in turn helps to eliminate any selling pressure that may arise. This also helps to stabilise and establish confidence in the market.
4. Token Swap Period
Users of HBTC Exchange are provided with direct access to the HBC token swap. Holders of BHT can perform a token swap at HBTC.com starting from 13:00, 20 April to 13:00, 20 October 2020 (UTC+8), for a period of six (6) months. The principle of the token conversion should prevent any price differences due to price fluctuation. The price of the token will not affect the rate of conversion. Users who have not completed the token swap from BHT to HBC after the expiry date will have to submit a request to HBTC customer service for assistance.
5. HBC Trading on HBTC Exchange
Trading in the following token pairs HBC/USDT and HBC/BTC will be available at HBTC.com from 09:00, 27 April 2020, Singapore Time (UTC+8). Deposits and withdrawals of HBC will be made available after the completion of the security audit and the appointing of nodes for HBTC Chain.
Three : New Innovative HBC 10x PE Repurchase-and-Burn Scheme
HBTC will use 100% of the income and 80% of Bluehelix Cloud's profit for the 10x Repurchase-and-Burn scheme on a daily basis. Income paid to the negative rate maker, invitation rebates and broker rebates do not fall into the token Repurchase-and-Burn scheme.
Repurchase Price Computation: Repurchase Price = Total Income in the last 30 days * 12/21 million (HBC in circulation) * 10 (10x PE)
Rules for Repurchase (PE):
80% of the income from HBTC Exchange is used for 10x PE and 20% is used for 5x PE. For example, assuming that the generated income is USD 7000, 80% of 7000 is 5600. The spot price for HBC/USDT is 1 USDT, an order for 4666.67 HBC at a buy price of 1.2 USDT will be placed until the order is fulfilled. The remaining 20% of 7000 is 1400. A limit order of 2333.33 HBC at a buy price of 0.6 USDT will be placed on the HBC/USDT trading pair. This order will provide a source of liquidity for HBTC Exchange, reflect the value of the platform.
Daily Airdrop and Repurchase-and-Burn
Starting from 14:00, 20 April 2020 Singapore Time (UTC+8), daily income generated from HBTC transaction fees will be used for automated repurchase. The result of the Repurchase report will be announced in the community.
All the airdrop token will be locked up for 30 days period, 1/12 token will be unlocked every month.
Rules for Daily Allocation of HBC Airdrop and Token Burn
1）50% of the repurchased HBC is allocated to the HBTC Captains based on an allocation ratio of 3:2.
30% is shared equally amongst the total number of qualified Captains and 20% is distributed to the Captains based on performance.
2) 30% of the repurchased HBC is deposited into the HBTC reserve fund and operated transparently.
3)20% of the repurchased HBC is placed under token destruction. It will be locked and sent for destruction quarterly.
Repurchase-and-Airdrop time: Daily.
Examples of HBC Repurchase Price from the secondary market:
An average daily income of 5,833 USDT; a monthly income of 175,000 USDT; an annualized income of 2.1 million USDT; the HBC repo price from the secondary market is: 210 * 10/2100 = 1 USDT
An average daily income of 23,333 USDT; a monthly income of 700,000 USDT; an annualized income of 8.4 million USDT; the HBC repo price from the secondary market is: 840 * 10 / 2100 = 4 USDT
An average daily income of 184,000 USDT; a monthly income of 5,520,000 USDT; an annualized income of 66.24 million USDT; the HBC repo price from the secondary market is: 6624.0 * 10 / 2100 = 31.54 USDT
An average daily income of 2,000,000 USDT; a monthly income of 60,000,000 USDT; an annualized income of 720 million USDT; the HBC repo price from the secondary market is: 720 mil * 10 / 2100 = 342 USDT
Based on the trading volume generated by the top exchanges like Huobi, OKEX and Binance, each exchange produces more than 1 billion USDT in trading revenue per year. If HBTC Exchange manages to acquire 20% of the market share, HBTC will be able to support the 10x PE repurchase ratio and push the price of HBC to 342 USDT.
Based on a scenario of a user holding 1000 HBC, holders of HBC can generate an income of 1000 * 342 = 34,2000 USDT. If a user holds 1000 HBC and becomes a partner of HBTC, he/she can earn up to 684,000 USDT income. The above forecast of the maximum profit made is based on the collaboration and contribution efforts of all partners to achieve a 20% market share of the trading volume generated by the three major exchanges mentioned above.
Projection chart of the price differences for 10x Repurchase from the secondary market:
Four : HBTC Community Captain (a.k.a HBTC Captain) system:
HBTC Captain is a form of partnership with HBTC Exchange. Community volunteers and content creators are the direct beneficiaries of HBC growth. Join HBTC as a Community Captain by fulfilling the following requirements:
1. Hold a minimum of 1000 HBC in HBTC Exchange which will enable the application function online
2. 1000 HBC will be placed in lockup once the application is approved
3. Complete Level 2 KYC
4. Capable of meeting the Key Performance Index (KPI) requirements. For specific targets, please refer HBTC Community Captain guidelines
5. Possess influential capabilities: Blockchain professionals, Key Opinion Leaders (KOLs), Community Leaders with track records in invitation rebates/trading volume
Ten Benefits of HBTC Captain
1. 50% of the tokens attained from the daily repurchase will be shared amongst all HBTC Captains via airdrops.
2. An inviter for HBTC Captain will receive a 2% profit share of the invited HBTC Captain's airdrop reward once at the joined day.
3. HBC's price gains in the secondary market
4. Income distribution of HBC locked-up tokens in the Mining of DPOS Nodes staking
5. With no expiry on invitation rebates you can now enjoy a 40% commission on the transaction fees generated by the invited users
6. Voting rights on major decisions such as project listing and community development
7. Receive VIP Level 1 status and discounts on trading fee (kindly refer to VIP discount guide)
8. Recommendation and voting rights for project listing with attractive rewards
9. Exclusive One-to-One customer service
10. Set up exchange business with Bluehelix Whitelabel Exchange System at zero cost
Definition of a Captain's Performance
i) Trading fees generated by trading on HBTC by Captain self.
ii) Trading fees generated by the invited users.
iii) Commission fee earned from successful recommendations of project listings fee on HBTC Exchange.
iv) Commission earned from successful referrals of clients for Bluehelix Cloud features.
v) Profit-sharing generated from Bluehelix SaaS Cloud Trading platform and Bluehelix Whitelabel solution.
vi) Successfully invited someone to be a HBTC Captain.
Minimum quota of a qualified Captain: An annual volume of transactions of 100 HBC (approx. 8.33HBC monthly) or equivalent. Should the price of HBC rises in the future, the community will adjust the volume of annual transactions through community voting.
Guidelines for Participation and Withdrawal of HBTC Captain
HBTC Captains are divided into two categories, Captains and candidate Captains.
Captain: Number of vacancies is temporarily limited to 10,000. The top 1000 Captains by ranking will receive a Genesis Captain ID with an extra 5% reward pass for daily HBC airdrops. In addition, each time the Captain invites another Captain into the scheme, the Repurchase Airdrop Reward will be increased by 1%. The invited Captain can only be invited once.
Candidate Captain: Number of vacancies is temporarily limited to 10,000. When the number of HBTC Captain reaches 10,000, the application for HBTC Candidate Captain will be open. Interested party may submit an application through a Captain or HBTC customer service. A security deposit of 1000 HBC is required after the application is approved. Candidate Captain has to achieve an annual volume of transaction of 50 HBC (approx. 4.166 HBC monthly) or equivalent as a minimum requirement for performance.
However, a Candidate Captain only receives 50% of the Captain Daily Airdrop Level Rewards. If a Candidate Captain is unable to achieve the minimum required performance, he/she will be excluded from the Daily Airdrop Rewards. Other benefits will remain intact until the required performance is met.
A Candidate Captain can apply for the role of a Captain when his/her performance surpasses that of any of the existing HBTC Captains; meaning the Candidate Captain has a higher Daily Airdrop Reward (subject to the available vacancy). When a Candidate Captain has successfully invited another Candidate Captain, the Daily Airdrop Reward will increase by 1%. The invited Candidate Captain can only be invited once.
Voluntarily Withdraw: Both the Captain and Candidate Captain can voluntarily opt-out from the Captain scheme. After forgoing the status of a Captain, the system will unlock and refund the security deposit of 1000 HBC within one month. The HBC airdrop earned through performance will continue to be unlocked as planned.
Captain performance issuance conditions: Captain will enjoy the benefits from the Captain Daily Airdrop Rewards once he/she receives the Captain status. However, if the performance of the month is not qualified, the system will automatically cancel the HBC airdrop rewards of the month. If the Captain's performance does not meet the minimum required performance for three (3) consecutive months and the performance ranked last 5%, he/she will be disqualified as a captain.
The Use of Bluehelix Team and Ecological Funds
30% of the buyback token will be allocated to HBTC operation expenses and will be unlocked over a 12- months period. Bluehelix will support the cost of servers for Bluehelix Cloud business. Any changes to HBTC business operations can be made through a series of community voting.
HBTC platform assets transparency and mechanism trustworthiness in data trading
To ensure the safety of user assets during the transaction process and the credibility of the revenue generated by the transaction, we will introduce the following:
100% Proof of Asset Reserves
100% Proof of Trading Income and Financial Statement
Risk Warning and Disclaimer
HBC Token is a digital asset created through HBC Chain technology. The value of HBC Token is determined by market forces and is thereby subjected to fluctuations and the risk of falling to zero value. HBC Token is not for sale on any public/private platforms. HBC Token is not a security, a stock, a bond, an option, a future, nor a financial derivative. Holders of HBC Token shall comply with the laws and regulations of their country for staking and/or trading in HBC Token. HBTC Exchange shall not be responsible for any losses incurred by any user staking HBC Token for any reason whatsoever.