SocialMedia.Market, a decentralized platform for influencer marketing announced several amendments in it’s token economy. The main goal of the changes is to adjust to the growing ETH and BTC rates bringing more value for every holder of SMT tokens.
Over the past several month BTC and ETH has shown exponential growth. To accommodate the budgets to the current financial state, SocialMedia.Market makes the following amendments:
- The company is updating the Hard Cap for the project, reducing it to adjust to the current exchange rates. Now it’s 16 000 ETH. According to the SocialMedia.Market representatives this budget is enough to start the project.
- The token exchange rate is being changed. The updated rate is 2500 SMTs for 1 ETH.
- The company made sure that these changes of the SMT prices do not affect the early baсkers who contributed during the pre-ICO. SocialMedia.Market will recalculate the balances and bring them up to the new exchange rate: new SMTs will be credited to your accounts within the next few days.
- The end of the token sale is rescheduled for March 16.
“While our goal here is to gather the required sum to start the project, the rapid growth of cryptocurrencies value makes us accommodate the token economy to the budget, thus avoiding it’s unnecessary growth. We appreciate the support of our early baсkers, who joined us during the pre-ICO. Therefore we decided to provide them with additional tokens based on the updated exchange rate and the current state of the market. Tokens will be recalculated by exchange rate of 3.75. So every 1000 tokens bought during pre ICO will , their quantity grows to 3750 after the accommodations.” – shares Dmitry Shyshov, the CEO and founder of SocialMedia.Market.
SocialMedia.Market is the first influencer marketing marketplace based on the blockchain technology. The solution was designed to solve the main challenges of influencer marketing industry, like fraud, complicates transactions, uncertain pricing, complex partnerships, etc. The implementation of the blockchain technology and smart contracts in SocialMedia.Market allows to eliminate fraud and create a 100% transparent and secure ecosystem.
All the operations within the SocialMedia.Market platform are executed with a utility token – Social Media Token (SMT). SMT ensures safe escrow transactions, reduced costs for in-platform transactions, as well as simplified and fast global payments.
The SocialMedia.Market beta will be released in early February. The main phase of the token sale is scheduled for February 9 and will last till March 16.
SocialMedia.Market has also launched a referral program. Every participant gets a 5% reward for all tokens purchased by the referrals. Moreover, the referrals get a 3% bonus themselves. The referral program is active till the end of the token sale.
To learn all the details about the project and join in please check the company’s website – https://socialmedia.market/