Alpha Token: The Global Business Infrastructure Platform
Cryptocurrency has become one of the largest growing industries in the world. Since Bitcoins inception, cryptography has been further altered and utilized to help solve a myriad of problems such as privacy, verification, data storage, and more. With new ideas, services and businesses arising in the space, people need assistance in getting them started and pointed in the right direction for success. The world of crypto moves quickly and you don’t want to be left behind.
Alpha (A) , an ERC20 Token hosted on Ethereums blockchain, plans on doing just that by “allowing users to place a bounty up in exchange for accounting, auditing, and financial services. We plan on expanding this to other sectors in 2020. Unlike other bidding platforms, it is a reverse style bidding system, where those interacting with the bounty/initial bid place reverse bids that decrease the amount to compete with the other bidders. While all bids are left into consideration by the Input User, this style of bidding allows the market to set the price for the given task, whether it is balancing a checkbook, or providing a retirement plan. At the end of the bidding process, the user then selects the bidder with the best solution for his/her problem and the amount of the bid that bidder placed is paid to the bidder.”
What Alpha (A) plans to accomplish is creating a scalable platform using Ethereums blockchain technology to bring products and services to the front door of any and every user. It will allow users to pay for services on an as needed basis and let the people providing the service compete for the right to serve you. It has a current focus on services which are well sought-after, but as mentioned above this will be expanded on in time. As stated in the upcoming and updated white paper, “Upon placing an initial bounty/bid, we deduct three percent. After this fee is processed there are no additional fees associated with the use of the Alpha Marketplace for that particular bid (with the exception of the optional encryption services).”
Alpha plans on providing optional encryption services as well, stating “we offer encryption services upon request for sensitive business data. The cost of this service is two percent of the entire bounty pool offered by the Input user. Handled by our auditing team, they will submit your problem with encrypted numbers/names that can still be solved by the Bidders. The Bidders never see any real numbers, nor do they submit real numbers. Our team will interpret and provide you the results privately.”
But where does the tokens utility come into play before the ecosystem is in working order?
Alpha Token (A) is considered the glue and utility that holds the platform together. Its total supply is 278,273,649 A, with 30,231,759 in circulation. Its current price is $0.006303 (+8.71%) with a market cap of $190,548. It utilizes the consensus mechanism “Proof of Stake" (PoS). Until the platform and full ecosystem is expanded upon, users can find utility by staking their A for a return. Staking returns are as follows:
- 1,000 A = .5% Reward
- 10,000 A = 1% Reward
- 100,000 A = 1.5% Reward
- 1,000,000 A = 2.5% Reward
This ensures a multilayer use case for the token. To be considered eligible for PoS, users must “hold a minimum of 1,000A tokens in their ERC-20 wallet and must be included in one 90 day snapshot. Once the said ERC-20 wallet has been included in a snapshot, tokens must remain in the wallet until the next snapshot to remain eligible. Any new tokens added to the wallet, must be held for a new snapshot to be included in the staking pool.”
This eligibility criteria incentivises holding Alpha to further strengthen the network by staking the token. While 1,000 tokens must be held to receive eligibility, after each 90 day snapshot, the amount of Alpha received for staking increases by 2% for every consecutive snapshot of staking Alpha to exceed 20%).
The distribution of Alpha is important just like its utility. 174,000,000 Alpha will be sold in a presale, with the remaining amount allocated for the Alpha Development team to use to expand its ecosystem and also to contribute to the staking program. Its important to note that if the project is not able to sell all 174,000,000 A, the remaining A will be burned by being sent to the staking wallet. In addition, AlphaBurn, the projects buyback program will repurchase tokens from various exchanges every 90 days. As profit is generated, orders will be filled to obtain these tokens and they will also be sent to the staking wallet and taken out of circulation.
Alpha Token is a raw, new, but Innovatove project that aims to grow extensive branches to help meet the needs of businesses, start-ups, and budding cryptocurrency projects. Hitting on various support levels, Alpha will aims to be a one stop shop for your cryptocurrency related needs. Whether it is book keeping for your cryptocurrency portfolio, auditing of smart contracts and blockchain code, or staking profit and turning it into passive income through yield farming, Alpha will take care of your needs.