Announcing the Altmarkets Buyback Scheme!

Announcing the Altmarkets Buyback Scheme!

05 Jan, 2020 158 Altmarkets General
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 ALTM


Trade Altmarkets Coin, only at the Altmarkets Exchange https://altmarkets.io/trading/altmbtc




In the past 18 months we have gone acheived so much with the Altmarkets Exchange, It's ever growing and now has amassed over 9,000 traders active on the Exchange making us one of the top low tier exchanges for people to come to when it comes to finding the next, low cap hidden gem within the Crypto World.

[ALTM] Altmarkets Currency, is a currency we have on the Exchange and it's main feature is to be used within the Altmarkets Exchange Economy. Altmarkets Coin can currently be used as a payment method for new projects, via the voting system http://altmarkets.io/voting as an example.


Planned Features

We are currently working on additing another feature for the Currency, Tiered Fee Discounts which we look to get in place on the exchange by the end of January 2020, current scheme will be as follows (subject to change)

 

  • 50,000 ALTM Exchange Collateral (25% discount on all withdraw fees)
  • ​75,000 ALTM Exchange Collateral (50% discount on all withdraw fees)

ALTM Burning

Altmarkets Coin has always been a part of a burning scheme, every 1000 member increase we have done as an exchange, we have burnt an amount of ALTM to the network http://altmco.in/richlist, now that we have reached 9,000 members this has now stopped future burns will be only within the Buyback Scheme (below) , to date we have burnt over 20 million coins! bringing the overall circulating supply to under 30 million.

Altmarkets Buy Back Scheme

We have created a new scheme for the Exchange and this a focal feature of Altmarkets Coin, this is to be named the Buyback Scheme. What is this and why are we bringing this online?


The current specifications on ALTM (Pure POS) means that coins are only generated dependant on the network via staking, this in turn with a static block reward (5) for ALTM means there will always be a supply pressure and as the exchange grows in turn an increased demand.

Example Setup:

57 Blocks (current network average / hour) = 57 x 5 (block reward) / 285 Coins per hour * 24 = 6840 ALTM per Day ($7.26 1 BTC = 7,428)

With the current generation of coins, that means 212,040 on average will be put into circulation on a monthly basis. The Altmarkets Buyback Scheme is a system where we, as an exchange will be purchasing this set amount of coins + 5,000 coins on a monthly basis, this will be for a minimal of 6 months until we review the system.

A page, dedicated to this scheme will be online shortly and display the full amounts purchased on a monthly basis.

Purchased coins, within this scheme will be then sent to the burn address.

Because we constantly add on 5,000 coins to the purchase amount of coins generated this means the supply will constantly decrease.

This scheme started 1st January 2020.



 


Trade Altmarkets Coin, only at the Altmarkets Exchange https://altmarkets.io/trading/altmbtc