Don't invest currently!
Hello and welcome to all EXPO users!
We have important news for you!
As you might know from our previous article, EXPO is already going through the restructuration phase. Currently our team is engaged deeply in token's development, integrating new system architecture and running tests in order to ensure overall operational stability. And today we want to share the details on our new tokens — EXST and EXPT.
EXPO Shares Token (EXST) and smart-contract migration to ETH blockchain.
It's not a secret for our community that all regulation of EXPO Shares is done by a smart-contract that operates within company's private blockchain.
During the restructuration phase, we'll be migrating the Shares smart-contract and all existing data to the public Ethereum blockchain, which will result in Shares conversion into EXST. Transfer will be committed in several stages:
- Smart-contract creation and launch in Ethereum testnet
- Smart-contract stress-testing
- Creating bridge interface for data migration
- Data migration to the testnet smart-contract
- Integration-tests on smart-contract's interaction with EXPO Platform
- Smart-contract's deployment to mainnet and official EXST launch
EXST is an ERC20 standard token created in order to correctly reflect Shares data in the public blockchain and establish transparent operational flow. It gives users more power over their Shares portfolio:
- Initial EXST price — $50.
- All purchased Shares will be transferred from EXPO's private blockchain and converted to EXST.
- EXST is issued and activated at the moment of Shares purchase.
- Shares to EXST conversion rate is calculated according to Shares price at the moment of purchase. For example, when EXST is priced at $50, Shares purchased at $50 price convert to 1 EXST, while Shares purchased at $132.66 convert to 2.6532 EXST.
- After the activation period of 365 days ends, users can withdraw 10% of their EXST's each month and exchange tokens at public markets for any desired currency.
- EXST will be listed at cryptocurrency exchanges and its price will be regulated by real-world market conditions.
- We're now actively negotiating about EXST listing on our partnered exchanges: Coinsbit, LocalTrade and P2PB2B, so that our users have an ability to exchange their tokens into any digital asset of choice.
- As a result of migration, users will be able to transfer their EXST to other users before the activation period ends. Right now, Shares can only be transferred together with EXPO Platform account.
- Users will be able to recover their lost Shares via Metamask or other web3 applications.
EXPO Utility Token (EXPT)
We've been working tirelessly to integrate our released products into a full-fledged ecosystem that allows our users to maximize their profits.
Internal EXPO utility token is an ERC20 standard token, will become the foundation of our new marketing system and a new investment instrument for users. We intend to utilize EXPT as our main internal currency and a marketing tool to popularize our digital products:
- EXPT issuance mechanism will be regulated by EXST smart-contract and our digital products. EXPT's will be issued on dividend payments, Airdrops and referral payments.
- Selling EXPT's will cause token burning with no restoration ability.
- 0% commission will be charged for sending EXPT to other EXPO Platform users.
- EXPT will also be distributed as a reward via Airdrop program.
Unified referral tree and new reward system
Complete integration of EXPT into our platform implies that each users will be able to get rewards from all EXPO ecosystem products. This principle became fundamental for us when developing a new rewards system.
To enhance user journey, we've decided to combine all EXPO Platform referral structures into a scalable blockchain solution that covers all our existing digital products. This approach allows to automatically sync user's data and his position in the referral tree among all the ecosystem products upon registration.
Unified referral tree provides an efficient way to integrate EXPT into the ecosystem and simplifies implementation of new features. On release, we intend to utilize EXPT as described below:
- EXPT will be distributed via Airdrop program to EXPO Mobile Wallet and EXPO Pay users.
- EXPO Plan referral payouts will be done with EXPT.
- EXPT will be used for EXST dividend payouts.
- EXPT will be used as a reward for completing the KYC procedure.
- Registering partners on EXPO Messenger will be rewarded with EXPT.
- EXPT will be used for rewards from referral operation's in EXPO TG Wallet + Exchange.
We strive to build a sincere relationship with our community. Therefore, we're obliged to inform you about one more thing: transition into the new development phase requires us to dedicate most of the cryptocurrency nodes computing power for development purposes, such as EXPT stress-testing and preparation for the first stage of smart-contract's migration to Ethereum testnet. This might result in short-term difficulties with certain platform's functionality, such as ability to withdraw funds or send transactions to other platform users. Over the course of next weeks we'll share more details on token's operating mechanism and how to generate profits with EXPT.