I think a Steem-powered twitter is a much needed social aspect steemit and busy are missing, so happy to contribute. I bought 200 for 200 bitUSD. Do you intend to buy back ZAPPL at a premium to reward contributors? Or just 1:1?
I think a Steem-powered twitter is a much needed social aspect steemit and busy are missing, so happy to contribute. I bought 200 for 200 bitUSD. Do you intend to buy back ZAPPL at a premium to reward contributors? Or just 1:1?
We plan to buy them back at what the market price is set to. We turned on free market so if the market makes them $10 then we will need to buy them back at that price, but yes for the most part it will be 1:1 or above on buy back depends on the market really. Also thanks for such a big contribution. i do recommend joining our discord if you have one we have a room for those who own zappl.
Great. I have a silly question:
Do you buy back only when you want to? Or do we have the option to sell based on the current market price?
Well its a free market you guys can trade freely until we start buy back. Also its not only when we want to its at as set time and when profits of the site are generated we buy back with that amount. Since we issued 49% of ZAPPL shares as an asset 49% of the sites earnings after site costs will be used on buy backs.
But you guys can trade them or do as you want with them after you purchase them, but we will be buying back over 1:1 since the free market makes the price so if you guys make them 2 dollars then we got to buy them back at that price. Also each buy back makes each coin theoretically worth more since less ZAPPL will be on the market and ZAPPL is also burned in fee's from market trades.