The crypto market is growing rapidly, but many tokens - according to Coinopsy over 2200 cryptocurrency networks, up 16% since April 2021 - have died and the tokens’ price became 0. Even with the preferable market conditions, a lot of people have lost all the money they invested. The main reason for this is unsuccessful speculative coin projects without any added value. Many, even top tokens have the same risk, and only the fluctuation in supply and demand changes their perceived value.
On the other side, some coins have a set value behind them. Stablecoins by their inherent function can retain their value but are unable to provide any kind of growth.
That’s why BlockBen has created an exciting alternative, in the form of eBSO, the first value token in the crypto world. It does not just combine, but surpass both token types mentioned above.
Minimize Your Risk, Maximize The Potential
eBSOs price is determined by the synergy of two factors: first, the growing basic value, and second, the market added value.
The growing basic value is a unique concept where the asset has a basic value - like all stable coins- but it is not a fixed amount, instead, it constantly grows. To do this, eBSO creates a pool in which the company accumulates a percentage of each transaction in the BlockBen ecosystem, which occurs either in the company's dedicated wallet or in any transaction with the company's assets in the Ethereum blockchain. The BlockBen ecosystem includes several tokens, such as a crypto index token called BIT TOP 20+ or BNOx, a gold-based stable coin. It’s easy to see that the more transaction happens in the ecosystem the faster this pool grows, and so does the value of the token: eBSO.
The pool has another interesting feature is that these accumulated fees are credited in gold. Gold makes the token more resistant to fluctuations, not only on the crypto- but the conventional market as well. At the time of writing the gold pool held by BlockBen for the community has over 58 kg of gold, valued at over 3.2M USD. It is equivalent to 20% of the National Gold Reserve of Estonia. The eBSO’s community gold pool is regularly audited, insured, and being guarded in a secure safe in Zurich, Switzerland. An additional feature of eBSO is a buy-back option, that enables people to sell their eBSO at the basic value at any time, regardless of market circumstances.
The other factor of the eBSO price is the market added value. It stems from the expectation of holders and sellers on the exchanges where eBSO is tradable. The ecosystem is set to grow continuously through the adoption of each token and the addition of new products. “As the ecosystem grows, the more important eBSO will be in the future, and people can price that relevancy on the exchange markets,” says Zoltan Veszer, Head of eBSO at BlockBen. "BlockBen does this all together while being a compliant, licensed institution, which is extremely rare in the cryptocurrency market."
eBSO listed on LBank
The token is now available on LBank Cryptocurrency Exchange, where it had a successful launch on September 22, 2021. Based on initial reactions and the consistent daily trading volume, officials at BlockBen expect stable growth, which could be accelerated by listing the token on additional exchanges. “We see that traders are enthusiastic about eBSO. The listing served as a test for our value-based model, and the successful launch validated the concept further,” said Attila Krocsek, the company’s Head of Business Development.
BlockBen, a company registered in Estonia, has gained the public’s attention for its digital developments. In 2018 BlockBen won the Innovative Product Award at the Cryptocurrency Expo in Singapore and just recently got the Financial Bridge Builder of the Year award at the eFINANCE & Fintech Festival in 2021 in Hungary. BlockBen operates with all the necessary legal licenses „providing a virtual currency service” and “purchasing and wholesale of precious metals and precious stones” acquired from the Ministry of Finance and monitored by FIU in Estonia.
The company is constantly working on growing the overall ecosystem in the form of new products - such as additional iterations of its crypto index token with different risk-reward profiles or new technologies like Natrix, their innovative hybrid blockchain. Natrix is an enterprise solution that is compliant with regulations while staying true to Satoshi principles. Overall, the ecosystem can contain new blockchain-based products and services that go beyond digital finance.