Every day we receive a number of questions regarding Bankera’s token supply, therefore in this blog post, we will provide a detailed explanation.
Overall, the final Bankera token supply will never exceed 25bn tokens.
That might seem like an extremely large token supply, but Banker (BNK) tokens should be compared to Satoshis; the maximum supply of Satoshis in the Bitcoin protocol is 2.1 quadrillion (or 2,100,000bn which is 84,000 times bigger supply than Bankera’s 25bn total token supply). Currently, the main token of our project is Banker (BNK), but we are also considering the possibility of allowing our tokens to be traded as Bank tokens. Each Bank token would be made up of 1,000 Bankers (BNK). However, for now, we are offering low denomination tokens that have an initial price of 0.01 EUR (for pre-ICO) and 0.017 EUR (for ICO) to make it attractive to everyone and to offer a potential positive token price appreciation for ICO contributors, due to its low denomination.
During the pre-ICO, we distributed 2.5bn tokens and aim to distribute 7.5bn tokens during the ICO to raise a total of 177M EUR. A hardcap with a value of 177M EUR was introduced to allow fair pricing of our Banker tokens. Fair pricing will enable participants of the pre-ICO and ICO to compete in an auction for Banker tokens. If all 7.5bn tokens are not sold during the ICO, the remaining tokens will be distributed pro-rata to participants of the pre-ICO and ICO. For example, if only 2.5bn tokens are distributed during the ICO, leaving 5bn tokens unsold, those 5bn unsold tokens will be distributed to the contributors of the pre-ICO and ICO pro-rata (I.e., if someone bought ten tokens during the pre-ICO or ICO, he/she will get an additional ten tokens). Therefore, all 10bn tokens will be distributed after the ICO. In the table below you can find some of the potential cases:
A secondary coin offering (SCO) of an additional 30% of the tokens will only be conducted if additional capital will be required to expand Bankera’s operations after the price of one Banker token will be higher than 0.1 EUR. That means the additional 7.5bn tokens will not dilute pre-ICO and ICO tokens since they will not be issued or circulated until Bankera reaches its scalability limits (I.e., it will have issued more than 1bn EUR worth of loans). As a result, without the SCO the maximum token supply is 17.5bn tokens with more than 57% of tokens attributed to pre-ICO and ICO participants.
Finally, the percentage attributed to advisors will be distributed over the lifetime of the Bankera project and, as a result, will not be issued or able to dilute the Banker token price for pre-ICO and ICO participants. The same applies to tokens attributed to the team. However, team tokens will be and are issued to team members (people helping to develop, advertise, and maintain Bankera) and to those helping Bankera succeed in the form of bounties (for translators, referrals, promoters, and others).
In conclusion, we expect no more than an additional 1bn BNK tokens (in addition to 10bn pre-ICO + ICO tokens) to be distributed within the first year of the Bankera project, consequently, making the total circulating supply of Bankera tokens 11bn with more than 90% of the tokens attributed to pre-ICO and ICO participants. This in turn means that pre-ICO and ICO token holders will receive over 90% of the 20% weekly transactional revenue share guaranteeing our token holders benefit the most out of it.