What is Startup Boost Token (SUBX) | What is SUBX token
In this article, we’ll discuss information about the Startup Boost Token project and SUBX token
1. Background
_Impactful businesses have the power to transform the world. _ They are great vessels of change that have revolutionised the way we live our lives today. Companies like Google, Amazon, and Apple seem almost larger than life today, but they too had very humble beginnings.
One would think it would have gotten a lot easier to start a business in the digital age, yet approximately 9 out of 10 startups fail. For all the dreamy unicorn startups that we see today, there are a dozen more broken teams with broken dreams, overworked and burnt out for one reason or another.
We believe that every startup deserves a fair shot at realising its vision and achieving success. With a strong community and a little push, we are confident that we can support an ecosystem of startups that will someday change the world.
2. What we are doing
Many startup frameworks are practised worldwide that can guide a startup from an idea to becoming a shiny unicorn. These frameworks often share a similar backbone that can be simplified into 5 stages. However, without experience or funding, many startups fail to transition to the next stage and close down.
5 stages of the startup journey:
Education
Product Development
Feedback Cycle
Sales and Growth
Scaling (to the moon)
We are here to change the way great businesses are built.
We are creating **an ecosystem of web and mobile applications **to support every stage of the startup journey – from education to scaling. The SUBX ecosystem will be committed to providing startups with the best chance of progressing in their journey.
$SUBX will be the utility token for the ecosystem. Users will have to hold $SUBX to access our applications and to have a vote in funding impactful startups. Our vision is to create the world’s most impactful startup community.
3. Tokenomics
The $SUBX token is a deflationary token that rewards users from holding the token. Like most tokens, we do this via reflection rewards, automatic liquidity pool acquisition and manual burn.
Reflection Rewards
A portion of every transaction will be proportionally redistributed to all $SUBX holders. This incentives holders to hang on to their tokens to get token rewards.
Automatic Liquidity Pool (LP) Acquisition
The contract absorbs some tokens per transaction and adds them to the liquidity pool to create a solid price floor. This feature acts as an arbitrage-resistant mechanism to prevent whale bot trading and price manipulation.
Manual Burns
$SUBX implements a manual burn strategy that is beneficial and rewards holders in the long term. We will burn tokens based on achievements and milestones to keep the community rewarded and informed. This reduces the total supply, making your tokens more valuable. In the event of high downwards selling pressure, we have additional protocols in place to buy and burn $SUBX to alleviate the pressure.
Ecosystem Architecture
The $SUBX ecosystem is designed in a way to encourage holding of the token. Most of our applications require users to hold a minimum baseline amount of $SUBX before these benefits can be accessed. This baseline amount acts as a buffer for downward selling pressure, ensuring stability in prices during bear markets.
Venture Capital Fund
A small portion of all transactions will be channelled to the Venture Capital Fund ($SUBX VC).
Half of this fund is used for development, marketing and operations of the entire $SUBX ecosystem. The remainder will be reserved for funding impactful startups voted by the community. This ensures the long-term growth of the $SUBX ecosystem and drives our vision of being the world’s most impactful startup community.
Total Supply: 100,000,000
Reflection Rewards – 5% fee
Automatic LP Acquisition – 4% fee
Venture Capital Fund – 3% fee
4. Ecosystem
To start off our ecosystem, we are developing our 4 initial applications based on the best existing solutions currently in the market. More applications will be developed in the future to further support the SUBX ecosystem.
Community App (Beta Development)
Overview
The community app is a forum application where users of the $SUBX ecosystem can discuss topics, ask for feedback, network and support one another.
Problem
Many entrepreneurs do not receive sufficient mental, emotional and communal support in their startup journey.
Ecosystem Value Proposition
Users who are consistently engaging with the community will receive $SUBX for their time and dedication. The community app provides reputation points to users for creating posts, receiving likes on their answers and for commenting on content. This cultivates a culture of support and sharing, while being rewarded at the same time.
Token Value Proposition
Only holders of $SUBX will be able to participate in the community app. This encourages more users to purchase and hold $SUBX, increasing the demand and value of the token.
Marketplace App (Beta Development)
Overview
The marketplace app is a multi-vendor e-commerce store where approved startups partners can list their software products for sale.
Problem
Startups often have to spend large amounts of marketing dollars on promoting their new products.
Ecosystem Value Proposition
Approved startups will be able to list their products on the marketplace with the condition that they offer a lifetime deal or a substantial discount. This allows startups to gain traction immediately amongst the SUBX ecosystem users and are able to generate revenue to sustain their business.
Token Value Proposition
Only holders of $SUBX will be able to participate in the marketplace app. This encourages more users to purchase and hold $SUBX, increasing the demand and value of the token.
Learning App (Beta Development)
Overview
The learning app is a learning management system where we provide quality education for startups to learn new digital skills. Such skills include digital marketing, programming, project management and more.
Problem
There are many online learning solutions for people who want to learn from educational videos. These courses are often only available through subscription and behind a paywall.
Ecosystem Value Proposition
Many people have impactful ideas but lack the skill set to execute them. We are providing a platform where users can have access to quality educational material to learn the skills essential for bringing their ideas to life.
Token Value Proposition
All courses on the learning app can be accessed for free as long users hold a certain amount of $SUBX in their wallet. Specific courses or masterclasses will require a higher amount of $SUBX in their wallet.
This encourages more users to purchase and hold $SUBX, increasing the demand and value of the token. While at the same time, we do not penalise or charge our ecosystem users for their eagerness to learn and grow.
Mentorship App (Q3 2021)
Overview
The mentorship app is a database application of experienced mentors in different fields all around the world.
Problem
Many entrepreneurs lack access to mentorship and guidance to progress on their journeys.
Ecosystem Value Proposition
Users have access to great mentors worldwide, allowing them to leverage our mentor’s expertise to overcome roadblocks, develop better business practices and scale their growth.
Token Value Proposition
Users can view and connect with our mentors for free as long the user holds a certain amount of $SUBX in their wallet.
This encourages more users to purchase and hold $SUBX, increasing the demand and value of the token. While at the same time, we do not penalise or charge our ecosystem users for seeking guidance in times of vulnerability.
Our vision is to be the world’s most impactful startup community. We will need your help.
Development Glossary
Alpha Launch- Application is developed for a proof-of-concept testing. Has limited web3 functionalities.
Beta Launch- Application is 70% completed and is currently in the progress of fixing bugs. Has proper web3 integration to check the amount of $SUBX in the user’s wallet.
Full Launch- Application is completed, and all features are stable.
How and Where to Buy SUBX token?
SUBX token is now live on the Binance mainnet. The token address for SUBX is 0x5232152c8207653aeda5baa0ff7fb1046c23c753. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
Join To Get BNB (Binance Coin)! ☞ CLICK HERE
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Transfer $BNB to your new Metamask wallet from your existing wallet
Next step
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap SUBX token
Contract: 0x5232152c8207653aeda5baa0ff7fb1046c23c753
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
The top exchange for trading in SUBX token is currently Pancakeswap v2
Find more information SUBX
☞ Website ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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