Atrix aims to be a pioneer of “token sale 2.0”. The company is launching the Atrix Token, which comes with a guaranteed buyback program. Here’s our review.
What is Atrix?
Atrix, found online at Atrix.io, is a token sale 2.0 platform that aims to embrace a new future for initial coin offerings. The company emphasizes the value of a buyback program.
We’ve seen a growing number of companies launch with token buyback programs. These companies offer buyback programs that guarantee a certain level of safety for investors. Many companies promise to buy back tokens from the market once a certain price has been hit, for example. Others announce plans to buyback tokens at a market rate after a certain period of time has passed. In any case, Atrix wants to help companies add this functionality to their token sales.
Overall, Atrix claims to be the first token in the world that’s launched with a minimum 80% buyback guarantee over a 5 year period. In other words, the company plans to buyback 80% of its tokens over the next five years.
Atrix emphasizes all of the following feautres on its official website:
Unique: Atrix is the only token in the world that offers an 80% guarantee based on your initial contribution.
Safety: Security is a top priority for Atrix, and “all your contributions are secure and kept in the safest wallets,” explains the official website.
Transparent: Atrix promises that all company business plans, costs, information, and investment plans will be transparent and publicly accessible.
Useful: Atrix claims its token will have multiple uses within the Atrix platform, and that you’ll be able to purchase multiple utility services within the ecosystem.
How Does the Atrix Token Buyback Program Work?
The Atrix token is an ERC20 token built on the Ethereum blockchain. There’s a limited supply of 45,000,000 ATRIX tokens. The company has set a sell price of $2 USD per token, along with a minimum buyback price of $1.60 USD.
The tokens come with a 5 year guarantee, including 24/7 buyback available for all tokens. Selling tokens back to the company is as easy as opening the Atrix app and clicking “Buyback”. Obviously, you won’t want to sell tokens at $1.60 USD after buying them for $2 USD, but the option is there if you don’t want to wait for the price to rise.
The buyback price sets the lowest token price on the market.
What Can You Do With Atrix Tokens?
So far, we’ve only talked about Atrix tokens in reference to their buyback program. The Atrix.io website is dominated by information about the buyback program. However, what can you actually do with Atrix tokens aside from selling them back to the company at 20% less than their purchase price?
Atrix’s key feature is a decentralized lending system. All Atrix token holders can loan money without interest and approval costs while enjoying loan payouts within 24 hours and loan payouts in BTC or ETH. This will allow investors to retain the value of their Atrix portfolio regardless of the loan.
Atrix posted on Medium explaining their lending system. You can read that post here. Basically, Atrix issues loans built on the Ethereum blockchain. The amount of the Atrix loan is calculated as the number of Atrix tokens multiplied by the current buyback price of the initial contribution.
The loans are based on smart contracts. The smart contract logic guarantees the agreement by relocating a set number of ATX tokens from the borrower’s account into Atrix’s own escrow account for a fixed period of time.
The loan can only be repaid in a lump sum. With the loan is repaid, the smart contract automatically returns all tokens to the borrower. If the loan is not repaid, then there is no further obligation between Atrix and the borrower, and the smart contract will revoke the borrower’s obligation to repay after the time limit has expired. At the same time, the deposited ATX tokens become the property of Atrix.
Basically, this is a long-winded way of explaining that Atrix tokens can be used as collateral for loans. You can lend or borrow tokens through the Atrix platform.
To facilitate the lending process, Atrix also has a decentralized KYC system available internationally. All users will go through a one-time registration process using this KYC system. You can expect the KYC process to be similar to other verification processes in the crypto community today.
Atrix also plans to launch something called the Atrix Seed, which will support initiatives in the crypto community (like a seed fund would), then allow Atrix token holders to gain early access to exciting projects.
Ultimately, the lending program is the only Atrix platform that will be available at launch. The company plans to launch additional products in the future, but they’re not well explained online.
Who’s Behind Atrix?
The idea for Atrix began in January 2017. Key members of the company include Adel Djutovič (CEO and Project Lead), Denis Avguštin (CTO), and Primož Cimerman (COO).
The core development team for Atrix is based in Slovenia, although the company is incorporated in the United Kingdom. Other members of the Atrix team are based around the world, including the United States, China, Switzerland, and the UK.
The Atrix Token Sale
There’s a total supply of 45 million Atrix (ATX) tokens. 40% of the tokens are dedicated to a reserve fund (18 million). 33.3% (15 million) will be sold during the token sale, with an additional 2.2% (1 million) available during a pre-sale. There will also be an angel round during which an additional 2.2% (1 million) ATX tokens will be sold. The remaining supply (22.2%, or 10 million, is reserved for the Atrix team.
The token sale begins on November 25, 2017 at 12pm CET and ends on December 20. Tokens are priced at $2 USD. All participants in the token sale have an 80% buyback guarantee (the company will buy back your tokens at a minimum price of $1.60) for a 5 year period.
A pre-sale began on November 10.
Atrix is a unique platform. The company’s key innovation is releasing a token with a guaranteed buyback program in place. You buy the tokens for $2 USD each today. Then, the company promises to buy them back at a minimum price of $1.60 USD (80% of their ICO value) in the future.
Obviously, you don’t want to sell a token for 20% less than your purchase price. That’s why the company is hoping the price increases in value. Their buyback price is designed to offer stability for the token – so the price will never drop below a certain point. On top of this stable currency, Atrix will release its lending platform, which gives Atrix token holders loans in exchange for posting ATX tokens to an Atrix smart contract as collateral.
Atrix also plans to enhance the value of Atrix tokens over time by introducing “further innovations”, although there’s limited information about these innovations available online.
To learn more about Atrix, or participate in the token sale, visit online today at Atrix.io.