BINCOME accrual and free distribution of BINC tokens
On December 22, 2020, as a result of a technical error, the basic income accrued to the participants’ Stellar addresses exceeded the calculated value by 100 times. Thus, about 1,500,000 USD in total were credited in the United States dollar equivalent based on the cost of 1 BINCOME ≥ 1 USD.
1 BINCOME ≥ 1 USD ≥ 100 CENTUS
Taking into account that this was the first time when the basic income on BILLEXC was accrued, the number of holders was still not very large, and the amount was very large, the only correct decision in this situation was made to correct the error — reissuing the BINCOME token.
Therefore, in order to continue to receive basic income on BILLEXC tokens, all BILLEXC holders need to open the trustlines to new BINCOME token.
Starting next Tuesday, the basic income on BILLEXC will be accrued in new BINCOME tokens and can be exchanged at a rate of 1:1 to USD and 1:100 to CENTUS right in the new CENTUS wallet . Also you can exchange BINCOME for USD and CENTUS at Stellar DEX at any time.
To add the trustline in your Interstellar wallet, go to the Manual tab and enter the name of the BINCOME token (in capital letters) and the issuer address.
Issuer code: BINCOME
Issuer address: GDJCKE6TA245Y6H4OSY36R76SQL4FZPNKQLCJIXWSV75R3WSZVVUVYET
Some participants, exploiting the erroneous accrual, hastened to sell the accrued BINCOME tokens to US dollar through the centus.exchange at a rate of 1:1.
Such participants, in fact, fully redeemed their BILLEXC for an amount equivalent to the amount of BINCOME tokens sold, therefore the BILLEXC data is considered redeemed from that moment, and the basic income will not be accrued on them. There will also be no accruals in old BINCOME tokens from this date.
Basic Income Cash (BINC)
In addition, on the threshold of the New Year, Basic Income Cash (BINC) tokens will be credited to all CENTUS token holders for free.
On Monday, 28.12.2020 at 20.00 UTC, a snapshot of the blockchain will be taken — at this point, the exact number of CENTUS on the participants’ wallets will be recorded. On Tuesday, each participant will receive free BINC tokens at a rate of 100 BINC for every 100 CENTUS.
Do not forget to open trustline for the BINC token in any wallet convenient for you:
Asset code: BINC
Home domain: basicincome.foundation
Issuer address: GBAPDMH6VRZX5EHNLJJB33UN5RZP6C7MIGJ7WKLABJGGVY52XYV4PUOH
Friendly name: Basic Income Cash
Total supply: 1,000,000,000 BINC
Basic Income Cash (BINC) is the official Basic Income Foundation token designed to financially support the development and promotion of the Foundation, manage its activities and pay remuneration and basic income to its members. The price of BINC token is determined solely by the value of the token itself in connection with the activities of the Foundation.
In other words, the value of BINC token will only be influenced by activities of the Foundation — the more basic income is paid and the more the Foundation’s coverage spreads around the world, the more expensive the token can be.
The BINC token provides new opportunities to use decentralized technologies when paying basic income, and also gives new opportunities to our ecosystem’s users to promote its use as a cryptocurrency.
You can get detailed information about the token and its benefits in our official communities in the near future.
The BINC token will be traded on decentralized and centralized exchanges.
The addresses of participants who have not exchanged old BINCOME tokens will not receive basic income until they have exchanged the entire amount previously accrued to them.
You can exchange previously received BINCOME tokens to BINC tokens at a 1:1 rate on Stellar DEX using this link.
on Tuesday December 29, the basic income in BINCOME tokens will be paid to all addresses of BILLEXC holders who have trustline to the token added and do not have old BINCOME tokens for last Tuesday, this Friday and Tuesday December 29th in one payment, that is, at a rate of 3%.
AND ONE MORE NEW YEAR’S GIFT !!!
All participants who receive basic income on CENTUS will receive a New Year’s additional basic income in BINCOME tokens in the amount of 1% of the wallet balance in addition to the 2% basic income in CENTUS tokens from the next week during one month.
To receive additional basic income, you need to open the trustline to the new token!!!
Happy New Year everyone, your CENTUS! ❄️❄️❄️