WINBIX ICO (REVIEW) – The Articles –

WINBIX ICO (REVIEW) – The Articles –

Introduction

The WINBIX System (hereinafter — the System) is designed to create a new sales channel that would make it possible for the Seller to sell the products with maximum efficiency and for the Buyer to buy for a reasonable price. The System features include (please note that some reverse auction features constitute intellectual property of the Project): Minimum price per each lot is determined randomly subject to the minimum price corridor established by the Seller, i. e. the minimum price per each lot is different and the value thereof remains unknown to the Buyer. Price reduction increment is determined randomly, in the range of previous price and stop price; thus, each subsequent price value remains unknown to the Buyer.

Time interval for the price reduction is set by the Seller for every item Stock balance is unavailable to the Buyer, each lot (item) may be the last one Opportunity to create quotations for Sellers and, if approved, to purchase products at the desired price. There is an established direct correlation between the Seller’s sale costs and the quality of provided services, Settlement of disputes by arbitration involving Sellers, Buyers and the System, Buyer can set any price value at which the System should notify the Buyer. This information is available to the Seller and provides an opportunity to forecast demand at different price levels DAICO performance enabling the investor’s maximum protection Creating and financing the SECURITY smart contract (Ethereum security unit) Buyback and destruction of tokens at fixed prices through the BUYBACK smart contract Issue of personal WBX tokens (ERC-20).

What is WINBIX?

Тhe WINBIX marketplace aims to create a new channel for sales, allowing participants to sell goods at bid prices at any moment.

How the system works?

The system used the reversed auction model. The price of the goods decreases until one of the participants stops the auction. The first buyer who stops the auction, wins.

The bid step and the lower limit of the price are defined by the WINBIX system using a special algorithm that takes into account the seller’s requirements, the number of participants in the auction, results from previous rounds and other factors. Thanks to this algorithm it is impossible to predict how the auction goes.

TOKEN

The project emits ERC-20 investment tokens called WINBIX (WBX). WBX tokens are put into circulation through the DAICO procedure (smart contract-controlled use of the project’s funds) in order to protect participants. WINBIX accepts investments only in Ethereum. All relations with investors are based entirely on smart contracts. The funds, gathered through PreDAICO/DAICO are stored in a smart contract. The project’s team does not have access to these funds. The project is funded through monthly funding (TAP).

  • WINBIX smart contracts: Build software better, together
  • Winbix PreDAICO smart contract for ETH transferring: 0x8a451BCD32a78661678E08a724C9f759906FD2Eb
  • Winbix Token (WBX) smart contract: 0x9AbBbA89700e1cE5A9A6E5d6748e5CC464c3771D

WBX token economics

WINBIX generates income from commission fees paid by sellers on the platform, and also from our own business activities. WBX token profitability is ensured by two instruments.

First instrument: buyback of tokens at a fixed price. Done via the “BUYBACK” smart contract From the day of the trading platform’s launch and until the start of the DAICO, 100% of the income generated from commission fees will be used to purchase tokens at the price of 0.0013ETH.

Second instrument: crediting of funds to the investor’s account Done via the “PROVISION” smart contract Investor wallets are managed by the “PROVISION” smart contract. Investor profits are accumulated there. Investors can exchange their tokens for a share of the profits that has accumulated in this wallet at any time.

This way, the WBX token can be sold by the investor back to WINBIX as a part of the buyback program, or returned to the “Provision” wallet. In the latter case the investor receives funds from this wallet (proportional to the amount of tokens being returned and the funds accumulated in the wallet). Tokens that were bought back and returned to investors’ wallets are destroyed. Investor profit grows, since the price of WBX buyback and the amount of funds in the wallet grow constantly. The longer an investor holds their tokens, the more profit they are going to make.

The investor controls the project

The team works according to the Roadmap and is funded monthly according to the budget graph. If an investor does not like the way the project’s team is working, they can leave the project ex parte 45 days after the end of the PreDAICO (90 days after the end of DAICO). Money are refunded from the smart contract in proportion to the amount of tokens being returned and the remaining balance in the smart contract, factoring in the refund coefficient. You can read more about our refund policy in the Whitepaper.

  1. SOFTCAP — 6 250 000 WBX, HARDCAP — 25 000 000 WBX
  2. Tokens are not issued to the project team. Tokens that were not sold during the PreDAICO are destroyed.

In order to protect the interests of investors, 100% of the income from commission fees obtained before the DAICO will be used to purchase tokens at the fixed price of 0,0013 ETH through the “BUYBACK” smart contract. The tokens will then be destroyed.

At the start of the DAICO all token holders, who have purchased tokens, or received tokens through marketing campaigns during the PreDAICO GET THE RIGHT to be awarded tokens (+100%).

Participation in PreDAICO

Dear Investor!
The PreDAICO of WINBIX has started! The tokensale lasts from April 24, 2019, to June 22, 2019.
You can purchase WBX tokens by transferring ETH to the address of the PreDAICO smart contract.
The minimum transaction size is 0.1 ETH.

Please pay attention to the fact that the initial price of 0.00055 ETH / 1 WBX increases with every 5 million tokens sold. Hurry up to buy at the lowest price right now!

Address of the PreDAICO smart contract for ETH transferring:0x8a451BCD32a78661678E08a724C9f759906FD2Eb

Address of the WBX token smart contract: 0x9AbBbA89700e1cE5A9A6E5d6748e5CC464c3771D

Note! An investor registered in the Personal Account receives bonus stakes in the amount of 10% of the number of purchased tokens. This volume can be increased by participating in our marketing programs. At the end of the PreDAICO, the stakes will be converted into WBX tokens and transferred to the Ethereum wallet of the investor. We strongly recommend you to read the quick manual to gain access to all the functions of the smart contract.

Allocation of funds

PREDAICO

DAICO

Product MVP

The team started developing the MVP in July, 2018 at its own expense.

Тhe WINBIX marketplace aims to create a new channel for sales, allowing participants to sell goods at bid prices at any moment. NOW IS TIME TO JOIN WINBIX!

Author: danilelsi

Published at Thu, 09 May 2019 06:23:04 +0000

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