Whisky Token ICO (WHY Token): Safe Cryptocurrency Investment Coin?
Based on the Ethereum blockchain, Whiskey Token is the world’s first cryptocurrency token backed by whiskey. The token taps into the unlimited growth potential of cryptocurrencies and combines it with the security of actual whiskey value to ensure that the Whiskey Token does not lose its value in the cryptocurrency market.
The WHYTOKEN GmbH developed the token with the aim of providing all the WHISKY TOKEN (WHY) token owners with the opportunity to participate in the highly profitable cryptocurrency market regardless of their financial capabilities while covering their investment with a high-end whisky portfolio.
How Does Whiskey Token Work?
The Whiskey token implements the asset-backed mechanism to minimize the risk of loss of the Whiskey Tokens by the owners. This security mechanism is responsible for overseeing the WHY stock market price.
The value of WHY is based on the current market value of the high-end whiskey portfolio. The function of the mechanism will then be to ensure that the value of WHY does not fall 90% below the asset backed value.
In case the value of the token is below the asset-backed value for more than a month, WHYTOKEN GmbH will repurchase the tokens until value is above the asset-backed value. The high-end whiskey portfolio that corresponds to the asset-backed value is liquidated.
The revenue generated from this is used to purchase orders for WHY tokens on the stock exchange in order to increase the market value of the tokens. The purchased tokens are then destroyed to reduce their supply in the market, which will increase their demand and subsequently their value.
The Power of Decentralization
The decentralized nature of Whiskey token will enable the community to participate and influence the portfolio in three ways:
- Token holders could propose whiskey bottles to include in the whiskey portfolio. In case of compatibility, the bottles are acquired.
- The token holder will participate in voting to determine and select the most promising bottle for inclusion in the portfolio.
- They will have the opportunity to purchase the whiskey bottles before they are sold to the secondary market.
Why Invest in the Whiskey Token?
Low Entry Barrier
Participation on the Whiskey token crowdsale is possible with as little as EUR 30. This enables retail investors to benefit from the rarest whiskey, since the minimum investment is low.
Reduced Investment Risks
The risk of loss of investments by the Whiskey token holders is minimized through the Whiskey portfolio that is highly diversified. Therefore, in case of investment breakdown, the portfolio is still protected. Similarly, the high-end whiskey portfolio does not limit the price of the Whiskey token.
Minimal Commission Fees
The platform will utilize blockchain technology to eliminate the intermediaries currently found in traditional investments funds that cause the funds to have high management fees and running costs. The elimination of intermediaries on Whiskey Token will significantly reduce the running costs and the management fees, which increases the return for token holders.
Parameters of the WHYTOKEN ICO
- Token: WHYTOKEN
- Token protocol: ERC20
- Token supply: 28,100,000
- Token supply during ICO: 25,250,000
- ICO date: 01 December 2018
- Token price: 1 WHY = 0.80 EUR
- Soft Cap: EUR 2 million
- Hard Cap: EUR 25 million