Frequently Asked Questions
How much does it cost to issue a token?
Issuing a token is free and takes under two minutes. It is as simple as opening an email account.
Can anyone issue a token?
How do people buy my token?
There are 3 ways users can buy your token at the moment and we are actively seeking more options. When you are logged in and on any token page, you will see the “buy” button and will be presented with three options:
- Buy token with your credit card via
- Buy token with your credit card via
- Buy token via EOS transfer. This can be done from any EOS wallet that supports memos and of course from top exchanges like
Binance, and more..
Please note that MoonPay and Elastum are able to support most users, however they are not able to support crypto purchases in every country.
Can I sell a token that I bought?
Yes, tokens can always be sold for EOS and sent to Coinbase or other crypto to fiat offramps.
Does this use blockchain?
Yes, one of our biggest goals is to build mass market applications that leverage blockchain in order to gain the benefits (shared journal, low transaction costs, transparency, decentralization) while at the same time investing in a user experience smooth enough for mass market users. This application is currently running on EOS mainnet.
Why would someone buy my token?
There are a number of reasons ranging from simply supporting you to getting special access to content to discounts on merch to having a louder voice in your community. We will be adding more tools that will introduce new ways for users to use tokens you created. It is up to the token issuer to create demand for their tokens.
Can I make a stable token where the price is always $1?
Yes, when you issue the token, make sure to set the allowance to zero and your token will function as a branded dollar.
What determines the price of my token (simple version)?
All tokens start worth $1. Each token issuer determines a parameter called allowance. Allowance determines the percent of a token’s reserve that gets sent to the token issuer each week. This does not change the token price. However, this does make the token price more influenced by supply and demand for the token.
What determines the price of my token (deep dive)?
All tokens created on the platform leverage the
Bancor Protocol for liquidity. Each token has a built in reserve of USDB (Bancor Stable Coin). Using a
Dynamic Reserve Ratio (DRR) allows for the token issuer to have income from the token’s reserve. The DRR starts at 100% and decreases at a rate determined by the allowance parameter in a linear fashion. When allowance gets paid, the DRR decreases along with reserve balance. Price and supply are not changed by the allowance. For those of you that really want to dig deep:
Click here and then save a copy so you can edit the file.
Can I reward token holders?
Yes, you can reward them with special access to content, discounts etc. In addition, we are working on creating the ability for the token issuer to buy and burn their own tokens (resulting in a price increase for all holders).
What is the relationship between deWeb and this WebApp?
deWeb is a framework for developers that allows for developers, operators and marketers to focus on their core competency and allow others to handle other aspects in exchange for royalties. This WebApp is the first project built on the deWeb Framework.
What new features are coming?
Polls, discussion boards, support for buying tokens with popular crypto currencies, beneficiary tokens (where the allowance is sent to a person other than the token issuer) and more. Most importantly, because this is built on deWeb, anyone can add features.
What is a deBoard?
A deBoard is a discussion board that can be put on any domain allowing members of a community to post and upvote content with real money. The highest upvoter gains control of a banner above the post and can insert a message and link - this often used to advertise to a community. For example, a post about DIY construction is likely to have a link to a hardware store with an embedded affiliate link allowing the banner to be monetized.
The first upvote costs $.10 and each progressive upvote costs 30% more than the previous upvote. When someone upvotes, the money they use to upvote gets divided as follows:
Previous upvoter gets back all the money they upvoted with
Previous upvoter gets ⅓ of the difference between previous and current upvote
Post creators gets ⅓ of the difference between previous and current upvote
Discussion board owner gets ⅓ of the difference between previous and current upvote
This gamification rewards content creators, content curators (who upvote good content early) and the website owner which is typically a YouTube creator or Podcaster that already has a large community.