Fulfillment of $BSKT basket. [ENG]
The BSKT basket consists of a total of 7 cryptocurrencies that cover its value. The security adopted is intended to ensure a constant and stable increase in the value of tokens. Thanks to the correct match of coins in our basket, its value is less susceptible to fluctuations appearing in the cryptocurrency market. The amount of the coverage value in relation to the individual cryptocurrencies included in the basket is as follows:
· Bitcoin (BTC) – responsible for 25% of the coverage value,
· Ethereum (ETH) – responsible for 25% of the coverage value,
· Polkadot (DOT) – responsible for 10% of the coverage value,
· Smarkey (SKEY) – responsible for 10% of the coverage value,
· YfDAI.finance (YF-DAI) – responsible for 10% of the coverage value,
· USD Coin (USDC) – responsible for 10% of the coverage value,
· Basketcoin (BSKT) – responsible for 10% of the coverage value.
Funds in the form of ETH 1,200, obtained during the pre-sale and public sale, were allocated for the purchase of cryptocurrencies. The ETH allocation is as follows:
· SKEY – the equivalent of 120 ETH
· DOT – the equivalent of 120 ETH
· BTC – the equivalent of 300 ETH
· ETH – the equivalent of 300 ETH (automatically filled during sale)
· USDC – the equivalent of 120 ETH
· YFDAI – the equivalent of 120 ETH
· BSKT – the equivalent of 120 ETH (the purchase process is still in progress)
The process of purchasing the above-mentioned cryptocurrencies was carried out using the DCA (Dollar-Cost Averaging) principle and lasted for several days. At the moment, the basket is filled with all cryptocurrencies in accordance with the adopted assumptions of the project (not including BSKT token itself - the purchase of which is still in progress). The breakdown of assets is as follows:
💎 850 000 SKEY
💎 6 000 DOT
💎 10,75 BTC
💎 300 ETH
💎 245 000 USDC
💎 42 YFDAI
💎 103 821 BSKT (the purchase process is still in progress)
We have mentioned this before on our Twitter account, but at this point we would like to highlight again that Polish projects with solid fundamentals are able to support each other - a tangible example of which is the transaction between the domestic SKY & BSKT projects. Here are confirmations:
https://etherscan.io/tx/0x5bf8ff1895bfea3a34095f87bc2192a38b68b5a16315a07022669e2ccfbde294
https://etherscan.io/tx/0xce86bd4faa642256fcf2156ecf63c27ba78c2bd0c03bd54e336c1840cad8068f
https://etherscan.io/tx/0x9d94cb4fdd62cea2b023da339bcff9cf5a9d5c3fd1435521268ecc30d0939fb0
https://etherscan.io/tx/0x822b55555181ec7cd1beae0b4f93bd9ed0c988c177f5118b4b22e83d9c1b3953
The YFDAI cryptocurrency in the amount of slightly more than 42 coins in total was purchased on the Uniswap exchange, confirmation of these transactions can be found here:
https://etherscan.io/tx/0x9180e301568584de7bbd4c639d73adc1d61e85dbf7f70049365edd97bf8968e3
https://etherscan.io/tx/0x946343c2b7b9d56ff10d0c5405a668eed2cda320892a48ebf0eb83ad865a8bef
https://etherscan.io/tx/0x0fcdce356198ec634585282f7873b1503bede2be4de4df38641c00aac781e407
https://etherscan.io/tx/0x3ac4d02ed6f38b80e55d85c16bde82b00dcc04d41de029ffb3e09fbaeef3863d
https://etherscan.io/tx/0x55f55377371a3ffba2055eddb336f249def964c33a1de1e0b9ba859ea43ef9c9
https://etherscan.io/tx/0xf684d48e7c4129bf90073a74147a24908d922299b515e01b8b1f375e93b77c85
As for the BSKT token itself, the purchase process is currently ongoing and will continue until all funds allocated for it are used. The following transactions have been made so far:
https://etherscan.io/tx/0xf7aa4cc6486ef6408aa482acc9b6d3bf4d91fa0469592b114df1dd7bb0798547
https://etherscan.io/tx/0x286fbcf12f7791f358d83c16a93d43b9cf22d97ae4b35c5ab93ccdd5ed4b3dc8
BTC & USDC -> these cryptocurrencies were purchased on the Binance exchange. These are screenshots made as evidence:
Polkadot -> purchase of 6 000 DOT was made on KuCoin exchange and these coins are already generating revenue on KuCoin’s staking platform, as you can see below:
All listed cryptocurrencies that make up the BSKT basket will be used to generate additional profits on different platforms, including decentralized profit-generating platforms in DeFi format. Revenues from these platforms will be used in the repurchase process for the redemption and burning of BSKT tokens, contributing to a significant reduction in supply on the secondary market. 90% of the above profits will be used for repurchase and burnout of $BSKT tokens, while the remaining 10% will be used for ongoing and necessary expenses of the project.
We are currently in the process of allocating funds across different platforms. We strongly believe that diversification is essential in this case and therefore we strive to ensure that allocations are quite varied and at the same time sufficiently lucrative.
About BasketCoin
BasketCoin is:
- Deflationary,
- With collateral — covering its value,
- With the system of repurchase and burning of BSKT tokens.
1. A fee of 2% of the value of each transaction will be taken from the transfer — half is burned out, the other half goes to the staking/reward redistribution pool which indeed speeds up the process of reducing supply. Smart Contract itself assumes that a total of 90% of all BSKT will be burned -> supply will decrease from 21,000,000 to 2,100,000
2. The BSKT token is secured with a basket of seven cryptocurrencies that cover its value. The security so adopted is intended to ensure a constant and stable increase in the value of tokens. Thanks to the correct match of coins in our basket, its value is less susceptible to fluctuations appearing in the cryptocurrency market. The BSKT token security chart looks like this:
- Bitcoin (BTC) — responsible for 25% of the value of the coverage,
- Ethereum (ETH) — responsible for 25% of the coverage value,
- Polkadot (DOT) — responsible for 10% of the coverage value,
- Smartkey (SKEY) — responsible for 10% of the coverage value,
- YfDAI.finance (YF-DAI) — responsible for 10% of the coverage value,
- USD Coin (USDC) — responsible for 10% of the coverage value,
- Basketcoin (BSKT) — responsible for 10% of the coverage value.
3. All listed cryptocurrencies that make up the BSKT basket will be used to generate additional profits on platforms such as:
- Crypto.com (profits of 3%-12% APR),
- YF-DAI (profits up to 72% APR),
- Swissborg (profits up to 20% APR),
- and other decentralized profit-generating platforms in DeFi format.
Revenues from these platforms will be used in the repurchase process for the redemption and burning of BSKT tokens, contributing to a significant reduction in supply on the secondary market. 90% of the above profits will be used for repurchase and burnout, while the remaining 10% will be used for ongoing and necessary expenses related
