A Guide to Understanding Brickblock’s Token Structure

Brickblock’s ecosystem contains three tokens: Brickblock tokens (BBK), Access tokens (ACT), and Proof-of-Asset tokens (PoA).

This guide aims to simplify our token structure and will help you understand the role each token plays.

Brickblock tokens (BBK)

BBK will only be sold three times: during our token pre-sale in August 2017, first ICO period in November 2017, and final ICO period at the end of Q1 2018.

Only 500 million BBK will be produced. 51% of these will be sold to the public; 35% are on company lockdown; 13% are committed to early backers; and 1% is distributed to bounty participants. All unsold public BBK will be burned at the conclusion of the final ICO period.

BBK can be activated to generate Access tokens (ACT) or deactivated and traded on exchanges.

1. Activated
Activated tokens generate Access tokens (ACT), which can be sold for ETH. Deactivated tokens will not generate ACT, but can be traded. Brickblock tokens can be activated or deactivated with just one click.

2. Deactivated — Tradable
Like all ERC20 tokens, BBK can be traded on exchanges. BBK will be listed on exchanges after the conclusion of our final ICO period. The higher the volume of transactions on Brickblock — and in turn the income distributed among BBK holders — the higher the value of BBK.

Access tokens (ACT)

When an asset is sold, a 0.5% fee is charged for the transaction. This fee is paid in Access Tokens. One ACT will be equal to the value of 1 ETH. When fees need to be paid, the asset’s smart contract sends buy orders for ACT, which are generated by activated BBK tokens. BBK holders who have activated their tokens receive the buy order can then sell the ACT for ETH with just one click.

Example: A building is sold for 20,000 ETH. 100 ETH worth of ACT are automatically generated by activated BBK tokens to pay for the 0.5% fee. The token holders whose tokens generated the ACT will receive a buy order from the smart contract. They can now sell their ACT and receive a payout in ETH.

Proof-of-Asset tokens (PoA)

Every asset sold through Brickblock’s smart contract platform issues its own unique Proof-of-Asset (PoA) tokens. PoA tokens are sold during an asset’s funding period and represent all the benefits of legal property ownership. That means PoA token holders are legally entitled to the profits of the underlying asset.

Example: A building is sold for 20,000 ETH. When the asset is fully funded, the smart contract deploys and issues PoA tokens to investors proportionate to the amount they invested. PoA tokens will produce passive income for whoever holds them, which is periodically paid out in ETH.

PoA tokens can be bought/sold/traded on the Brickblock exchange (in development).

To know more visit https://www.brickblock.io