We are creating our own Utility Token to be used throughout the system: we will ask users to make their deposits primarily in PXU, so we do not need to keep track of endless currency account balances.
Every time user start a strategy the allocated capital founds will be exchanged from the deposited PXU balance.
Unallocated amount will be kept and changed to PXU.
Profit share will be paid in PXU throughout the system.
White-label exchanges will be asked to list PXU, in order to make accounting easier for both of us (we are sure they might use it to ask users to pay commissions in PXU for them and will lower the rates for all, who are opting it in).
To achieve this, we are planning to run an IEO. Let’s see the roadmap, benefits and prices. Just the pure facts.
IEO sale and crowdfunding sales refer to the amount of PXU tokens that will be available to be purchased throughout the IEO in all its stages.
Standard price is the base price of the PXU token during the IEO. From this base price, discounts will be applicable at different stages of the IEO.
The hard-cap is the maximum amount of funds that can be raised throughout the IEO. This means that if at any stage this amount is reached, the IEO will be successfully concluded.
The soft-cap is the minimum amount of funds that needs to be raised throughout the IEO. This means that if at the end of the IEO this amount is not reached, the IEO will have failed and all funds raised will be returned to token buyers.
The PXU tokens assigned to the founding team will be a compensation for their efforts in ideating, developing and implementing the PLANEMO ecosystem.
The reserve fund will be destined to finance the implementation, maintenance and upgrades to the PLANEMO ecosystem.
Token delivery and listing
As previously mentioned, PXU tokens that are purchased throughout the IEO will be delivered into the digital wallets of buyers during the IEO public sale stage. For those who pre-purchased tokens in the pre-sale, the delivery will be done at the end of day one. For those who buy tokens in the public sale, the delivery will be executed at the end of the respective purchasing day.
After the IEO is concluded, the token will be listed in the IXX digital exchange, which is conducting the IEO. From that moment on, the price of the token will be established by the market according to supply and demand.
Tokens in the reserve fund might be put into circulation after the IEO by listing them on a digital exchange, in order to fund the implementation, maintenance or upgrade of the PLANEMO ecosystem. This decision will be taken, under careful consideration, by the management team.
Tokens assigned to founding member teams, will be delivered under a vesting schedule of 1 year, in the following way: 3 months after IEO, 25%; 6 months after IEO, 25%; 9 months after IEO, 25%; 12 months after IEO, 25%.
Unit account balance
Users will then be able to execute strategies for cryptocurrency trading in their respective trading slots of the PLANEMO software system, using their balance of our utility tokens.
When someone decides to invest into the system, it will happen in a form of PXU token purchase through the hosting exchange (ours or our white labeled partners, where the user verifies his account). Whenever that investment is being allocated to a certain strategy, the first trade on it will be a purchase of the desired symbols and pairs handled by the strategy as key elements.
When every month the profit is being measured, the amount of profit share will be exchanged from the allocated balance of the slot to PXU token and transferred to the respective experts. Experts will also pay their system commission and annual fees in PXU and promotion is also being asked in PXU by PLANEMO.
Having PXU token does not mean automated access to the PLANEMO ecosystem, however it can be used after registration, as initial deposit for example.
Utility token usage
Digital assets are usually classified into 3 types:
Payment tokens are digital assets used to purchase goods and services in a general way, and in this sense they resemble to traditional currencies. Bitcoin (BTC) and most other cryptocurrencies (ETH, XRP, LTC) fall into this category.
Utility tokens are those utilized inside a specific platform or project. They can be used to access the platform, perform transactions in it, or to exchange them for goods or services produced in the context of a specific project.
Asset or security tokens are those that resemble to securities like equity, bonds etc. and they represent an investment done by the token buyer with the intention of generating a profit.
Our token clearly falls into the second category: it is a utility token. Its use is to function as the account unit for performing trade in cryptocurrencies, only inside the PLANEMO ecosystem. They cannot be used as a general method of payment (so they are not payment tokens) and they are not bought with an intention of making a profit (so they are not security tokens).
While a trader that executes a strategy inside the PLANEMO ecosystem has indeed the intention of generating a profit, this potential profit comes from the trading of cryptocurrencies, not of the tokens.
Something similar occurs, for instance with contracts for difference (CFD) trading. The investor keeps a balance in fiat currency (e.g. USD) but is investing in stocks. While the stocks are indeed securities, no one would say that US dollars are securities.
As a consequence of this, our tokens and our IEO are not subject to financial and securities laws and regulations.