We have had some questions from investors about our 10% return guarantee, so we have put together answers to some commonly asked questions. Remember, you can always email us at email@example.com if you have any questions about any aspect of the company.
What is the BRIKCOIN buyback program?
The buyback program has been put in place to guarantee an annual return to our investors. Every year for the first 3 years, all BRIKCOIN holders will be offered a chance to sell back 5% of their token holdings for a price of £0.02 per token. While we project the token to be worth a lot more than £0.02 in a year, we understand a lot of our investors are new to crypto so we want to offer this partial assurance on your investment.
Who is eligible for the program?
Every person holding BRIKCOIN in a personal wallet on the date the buyback program starts each year will be eligible for the program.
How will the wallet holdings be determined?
Wallets holding BRIKCOIN will be scanned on a specific date and time to determine the number of BRIKCOIN in each wallet. A month before the start of the program each year, we will announce via social media the date and time of the scan and the date and time when the buyback begins. At that specified scan date and time, whatever BRIKCOIN is in a particular wallet will be linked to the wallet address and the 5% maximum eligible for the buyback will be calculated and locked in. This will only be possible with personal wallets and NOT if you keep your BRIKCOIN in an exchange account. This is to ensure that the funds to be paid out to our investors reach the intended recipients.
When will the buybacks be conducted?
The first buyback will start the 360 days after the first exchange listing. The second will be 360 days after that and the third will be 360 days after the second. The buyback will last for a total of 2 weeks, during which time, all holders will be allowed to fill out a form on the website and sell BRIKCOIN back to us.
What currency will the payout be in and how will the value of the payout be determined?
Since BRIKCOIN is an ERC-20 token, the buyback will be conducted in Ethereum which can easily be converted to fiat currency through exchanges or brokers. The value of Ethereum will be locked in at a specific date and time. So for example, if the date set is 10th January 2020 and Ethereum is priced at £1000 and you are eligible to sell back 100,000 tokens. Then the fiat equivalent you are entitled to will be calculated as £0.02×100,000=£2000 and the Ethereum sent to you will be £2000/£1000=2 ETH.
What will the process look like?
We are planning to have a form on our website where you will be able to input your personal wallet address and email and we will display the maximum amount of BRIKCOIN you can sell back and the wallet address to send your BRIKCOIN. Once you have done so, the address will automatically send back the amount of Ethereum you are entitled to. You do not have to sell back the entire 5%. The amount of Ethereum will be calculated automatically based on how many BRIKCOIN you send to the wallet.
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