Where do we use CYOT tokens?
In this article we will explain where do we plan to use CYOT tokens in our platform?! CYOT tokens are the part of Cryptoyote ecosystem and services. We have developed our tokens in order to make it more clear and transparent for our clients to understand how many trades were made by AI powered auto-trading bot. We do not plan to create a new cryptocurrency. CYOT tokens are not securities and will be used only as an utility tokens.
Where do we plan to use CYOT tokens?
First of all they will be used as a unit to track all trade operations made by AI Auto-trading bot; 1 CYOT is equal to 1 Trade. So, if you have 10 CYOT tokens in your balance, that means that Cryptoyote bot is going to make 10 trade operations for you. Yeah, it's simple…
The second idea is to use CYOT tokens for commission payments after successful trades. Once AI made a profit, we will share that profit as a 60% to you, 40% to Cryptoyote. But in order to keep your balance more profitable and more secure, we will ask you to pay those commissions in CYOT tokens. Since the token price is stable ($0.50), it is going to be easy to count the fee. That is why we will ask you to have an extra CYOT tokens on your balance.
Since it is hard to predict profit for each trading, we have decided to count it this way; let's say you have 1 BTC balance and probably there will be 3% of profit per day. Thus, the formula will be — (1 BTC x 3%) x 40% = 0.075 BTC, then we will exchange BTC for US dollars ($ 11,500.00) = $ 862.5, then multiply $ 0.50 (price of the CYOT token) and we get 431.25 CYOT tokens. This is the number of tokens that should be on your balance outside the tokens that will be used for trading. Of course this is not the exact how much it will going to make during the trade; balance, daily profit and BTC price may change and results may vary. This is just an example just to explain how it is planned to work.
These are the main ways we want to use CYOT tokens, but not least. We plan to have extra services such as; TA Master Bot, Portfolio Manager, Crypto Exchange and News/Media platform. We may provide those services only in CYOT tokens. We want to connect all our services and unified token is the best idea to connect all the operations. But these are our future plans and we will update you with all necessary information about our upcoming services.
The price for one token is $0.50 and we want to keep it stable. For now the only reason for the price change may be our own intention to change prices for Cryptoyote services. Also we are not going to do any ICO, IEO or something similar. Our product is ready to use and we are not going to collect money and promise you to launch our services in future. So if you want to get CYOT tokens, then go to WAVES DEX and search for CYOT/USD pair.
Disclaimer: CYOT token is not a cryptocurrency or digital money. It is just a unit to measure how many times and in what amount we have provided service to our customers, and because this service cost a money, we simply add a value on our token to make it easy to understand how much it will cost to you. We still may accept service fees in other methods (fiat or cryptocurrencies) as well.