Backed Finance - The Future Of Speculating On StartUps

cryptoinmind (30)in #bkd • 2 years ago

Overview

Cryptocurrency has been spreading its wings in many industries and the financial markets for a long time now. Blockchain has grown massively in popularity expanding its use cases from cryptocurrencies to other sectors such as banks, health, and real estate. Emerging blockchain start-ups disrupted the investment space in 2017 when they adopted the token approach to raising funds. Instead of these start-ups raising funds through the traditional model from institutional investors, they issued tokens and released white papers to offer investors security in their projects.

The growth of blockchain has invented crowdfunding techniques such as ICO, IEO, IDO, and STO's as a new method of fundraising over time. The rise of the crypto economy is both promising and unfortunate for VCs as well as retail investors worldwide. Promising because now they have the opportunity to invest in crypto assets. However, there are Blockchain challenges related to UI/UX, lack of KYC these VC's and retails investors are stuck with traditional fundraising strategies. That is why unveiling Backed Fianace.

What is Backed Finance?

Backed allows you to back private companies and benefit as they grow with CompanyCoins. Users trade using our native token BKD, which is hosted on the Binance Smart Chain. For too long, speculating on the next big startup has been reserved for the few. Not anymore.

The mission of Backed

The mission is to speed up the world's transition to crypto investment. Backed will allow any investors whether beginners or experts to access and make investment decisions seamlessly and transparently.

Features of Backed

1> Ever find a startup that you love, but can't invest in them because they aren't raising. Now you can invest in them with Backed
2> Invest in almost any StartUp at anytime
3> Anyone can invest
4> Minimum investment $10
5> Sell your CompanyCoins at anytime
6> When you buy a startup's CompanyCoin on Backed, you pay a 10% gratuity fee to the startup. That helps them grow, which in turn helps to drive up the price of your investment.

What Are CompanyCoins?

CompanyCoins are a new type of asset class that is tied to the reputation of a company and to the success of the BKD token. Every company on Backed has a coin. They allow you to speculate on the performance of a startup without needing an invite to their investment round. As a startup succeeds, gets more press and becomes more popular, others may purchase more CompanyCoins, which would increase the price and therefore value of your holdings. As CompanyCoins are also linked to the price of BKD, the more popular Backed becomes and the more the price rises, the more the value of your holding in both BKD and CompanyCoins will increase.

Every company on the platform gets its own coin that anybody can buy and sell. We call these coins “CompanyCoins,” and you can have your own coin too simply by creating a profile. The price of each coin goes up when people buy and goes down when people sell. To buy a company’s coin, you simply navigate to their profile and hit “Buy.” You can find a company's profile either by searching for it or by visiting the CompanyCoin leaderboard. Likewise, it’s just as easy to sell your coins. You don’t have to wait for someone else to buy them, the system will buy them back from you.

BKD TOKEN

The Backed platform has its own native utility token, called BKD, that you can use to buy a new type of asset called CompanyCoins. Verified users can buy BKD with BNB. BKD is hosted on the Binance Smart Chain. The supply of BKD is capped at 6m tokens. During the initial token sale phase, up to 5 million BKD tokens will be distributed according to demand. The remaining 1 million will be retained by the founding team and/or used for marketing purposes.

The price will start at 0.00001953125 Bitcoin. For every 500,000 tokens distributed, the price of BKD compared to BTC will double. If sell all 5 million tokens during the initial token sale, the price will 512x.

Every time you buy a company’s coin, there is a 10% gratuity fee. That 10% is sent directly to the company's wallet and they get to keep it. That helps them grow, which in turn helps to drive up the value of your coins.

Conclusion

Ever googled how to invest in a new company you've found that looks exciting, only to find it's a private company? The Backed Platform allows you to back some of the most exciting private companies in the world through their designated #companycoin #backed #BKD