Frequently Asked Questions


 

 

 
What is KexCoin? +

A privately issued cryptocurrency that lives on the BitShares network.

What is KexCoin used for? +

To raise money for property investments and to bypass the legacy banking system.

How does KexCoin work? +

People will buy KexCoins directly from us at a fixed price. They will give us Bitcoin and we will give them KexCoins.

We will then use that money to purchase the properties, rent them out and buy back KexCoins with the profits.

How will contributors get their money back? +

Once per quarter on a pre-announced date, we will take 50% of the net profits generated by the properties and use it to buy back as many KexCoins as we can.

Holders will offer their KexCoins for sale on the market and we will buy them back starting with the cheapest first.

Once the buyback budget has been exhausted, all KexCoins purchased within that budget will be permanently burned. This reduces the total remaining supply and increases the scarcity of the coins that remain.

How much will contributors make? +

Kexcoin holders have to compete for the money on buy back day. Hence they can either set a low price and sell their KexCoins more quickly, or set a higher price and wait longer for the market price to reach that level.

This means a longer wait but a larger return. We cannot say what the return will be.

What does the KexCoin team get out of this? +

10,000,000 KexCoins have been created. This is the total number that will ever exist.
10% of this amount (1,000,000 KexCoins) will be retained for the core team.
An additional 5% (500,000 KexCoins) will be retained for contingencies.

The remaining 85% (8,500,000 KexCoins) will be sold during the ICO.

In order for the KexCoin team to profit, KexCoins must be worth something. This will only happen if the project is a success.

When a core team member wishes to take some profit they would have to sell their coins on the market in exchange for Bitcoin in the same way as an ICO participant does, except that the core team are not allowed to sell or trade their coins for 1 year after the ICO.

Is the buy back day the only time someone can sell their KexCoin? +

No, a KexCoin holder may choose to sell their coins on the market at any time in between buy back days.

Buy back day is simply a special event that happens once per quarter on a pre-determined day, a day on which new demand comes into the market.

Will people trade KexCoin? +

Most likely yes.

While a certain quantity of KexCoin is burned during the buyback, anyone is free to buy and sell KexCoin at the market price without our input or interference.

What happens if you don't sell all the coins during the ICO? +

Any coins that are left unsold when the crowd funding period closes will be immediately and publicly burned.

Can you actually make use of all the money you raise? +

Yes. There are more potential property opportunities available than we could ever possibly take up. If we raise more, we'll buy more property, if we raise less, we'll buy less. It's a very flexible model.