The ALBT Token Explained
Envisioning the world’s first decentralized capital market, the founders of the AllianceBlock ecosystem and the Prometheus Protocol had in mind the AllianceBlock token (ALBT) that would be designed to be at the very core of it.
What is this ERC20 token and how does it and its economy work? Don’t miss out on getting your questions answered.
Incubated by Europe’s most prestigious incubators – Station F, L39, and Kickstart Innovation Zurich – the AllianceBlock project is led by a highly experienced team of ex-JP Morgan, Barclays, Goldman Sachs, BNP Paribas experts and quants.
Having created the Prometheus Protocol, the team is building the first global decentralized capital market. The Protocol is a decentralized, blockchain-agnostic layer 2 that facilitates automation of converting any digital asset into a fully bankable product.
Struggling to find in-depth information about AllianceBlock? You can find all the major takeaways from our recent article ALBT: The AllianceBlock Ecosystem and Token. And even more from More About AllianceBlock.
What Purpose Does ALBT Serve?
To start with, the ALBT token is a multi-functional token that is at the center of AllianceBlock. In other words, it acts as the main exchange medium for the AllianceBlock ecosystem. Moreover, the token is built into every transaction executed on the platform.
Operating on the Ethereum blockchain, ALBT serves two main purposes: to maximize the influx of value to the AllianceBlock ecosystem and incentivize inclusion, participation, and growth. The latter can be achieved by acting as a reward for those contributing value to the AllianceBlock market in a number of ways.
One of the main tasks on the project’s agenda is to act as a central bank to ensure stable price appreciation of the ALBT token as well as its healthy growth.
The AllianceBlock Foundation is mainly responsible for stimulating the growth of the ALBT token. This will be done by balancing the token demand with supply.
To ensure efficient growth stimulation, the Foundation aims to buy back tokens – if the price is decreasing in an unnatural way – to monitor the actual token distribution in the market, and to distribute fees within the network.
Providing Additional Value
To provide additional value to all the stakeholders, the AllianceBlock ecosystem will be operating a staking reward system.
ALBT will be used to reward the holders of institutional, nodes, and service nodes for locking up their tokens. The investors and network participants who can’t operate their own node for whatever reason will be able to delegate their stake to pre-existing nodes.
Another common reward protocol feature will be the reward for participating in voting, reporting unwilling behavior or bugs, achieving high ratings, maintaining the high standard of services, solving disputes, and promoting the platform – among several others.
The aim is a staked asset ratio of 60% and a stable yield of around 7-9% per annum, which is in line with the already established stakeable assets.
Trading ALBT on CoinMetro
The ALBT token is now available for purchase on the CoinMetro platform. Exceeding expectations is our middle name, so we introduced the first ever fiat trading pair for AllianceBlock – ALBT/EUR.