BoBo Wallet’s Token Economy

4 min readNov 30, 2020

For the last few weeks, many of you have been asking about our release of the BoBo Wallet. Well, here's some major news:

We are launching BoBoCoin to support the project and create a reward program for future delegators. With the upcoming token sale, we are happy to finally share the economics of BoBoCoin with you.

Usage of BoBoCoin

Ticker: BoBo [BOBO]
Pre Sale Allocation — 25,000,000
Initial Circulation — 10,000,000
Dev Team — 5,000,000
Hard Cap — 40,000,000
Contract: Work in Progress

The Public Sale of BoBoCoin will take place on the Harmony SeeSwap platform the date was 21st of December at 16:00 UTC. but now it has been postponted due to interest from more investors.

Instructions on how to participate in the auction will be shared soon. Do not use any links other than ones that are posted on the BoBo Wallet channels.

Pre-Sale structure:

Pool 1 : ( 30% Discount; 10% on TGE ; 10% Quarterly)
Pool 2 : (20% Discount; 10% on TGE; 15% Quarterly)

Usage of funds

– 30% is allocated for future product development ;

– 20% is allocated for rewards for the integration partners;

– 30% is allocated for marketing expenses

– 20% is allocated for initial Seeswap liquidity;

Listing

Right after the initial distribution, BoBo will be listed on SeeSwap.
50% of the raised funds will be allocated for the initial SeeSwap liquidity to secure a conversion rate of 200 BoBo per 1 USD.

Token Burn Mechanism

Team Bobo manages the Hypermine Validator node. In an effort to curb inflation, 1% of the validator fee would go towards the token burn mechanism.

For example, if Hypermine Validator is receiving 1,000 ONE in a single day as a validator reward then [100 ONE worth of] BoBoCoin will be purchased from SeeSwap and burnt. Details would be listed publicly.

Why you should buy BoBoCoin?

Token Utility
Controlled Inflation

We have considered both points while designing the token economy for BoBoCoin.

Utility

As we are all aware of the recent breaches in the browser-based wallet solutions, Harmony needs to adopt a ‘Cold Wallet’ mobile solution now, more than before.

BoBo supports the ‘Two App Approach’, so your private keys are in an app that doesn’t connect to the internet and we have a bridge via which transactions are shared between the apps.

We are also integrating multiple service providers such as an exchange and also e-commerce site. Users of BoBo will soon be able to swap and shop all, using BoBoCoin.

Inflation

Since BoBo is a multi-currency wallet, it supports multiple protocols starting with Harmony and then BSC [Binance], XTZ [TEZOS] and ETH [Ethereum].

We will be staking, and of-course generating rewards through this partner ecosystem. With the token burn event taking place almost daily, we will burn 1% of all the rewards that are generated in order to curb inflation.

We have also locked 90% of private sale tokens which will be distributed quarterly.

How to participate

You should join the waitlist on the website and our official BoBo Wallet telegram community chat.

Telegram: https://t.me/bobo_wallet
Twitter: https://twitter.com/bobo_wallet
Contact Form: https://docs.google.com/forms/d/e/1FAIpQLSdx91ZzW-pLMhO6bgXDXc0i-EwJmPdpoIYG5pH7e6nypVts7w/viewform?usp=sf_link

Legal disclaimer: Participating in token sales can bring great benefits, while it also might result in a loss of funds.

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Bobo Wallet is a product of Hypermine Labs

Authors:
Vikram Bhushan
Vishwas Anand
Irfan Khan

About Hypermine:
Hypermine is an avant-garde technology and research organization that is dedicated to building trust and transparency in the real world.

Using ‘Distributed Ledgers’ as our core technology coupled with ‘Machine Learning’, we are creating digital economies to create a new world for enterprise, government, and consumers.

Our vision is to create a world where privacy is a fundamental right, where our data is secure and belongs to us. A global currency that has real value; where piracy does not exist and freedom of expression is encouraged. Where wealth is shared to reduce poverty and all governance is transparent and trusted to make life better for everyone.