Although Bazista is powered by a centralized system, it offers a decentralized marketplace where users can earn money by buying, selling or promoting goods and services. Bazista is the premier B2C (business to consumer) and C2C (consumer to consumer) online trading platform that encourages and empowers online trading with cryptocurrencies.
The platform ensures transparency of transactions while keeping these transactions time and cost-effective. The centralized feature also sees to the tracking and monitoring of all transactions until the products are delivered to the buyer.
Initial Coin Offering of Bazista
Initial Coin Offering is a fundraising tool used to raise capital for early-stage fintech projects. The Bazista team is putting up Bazista coins (commonly abbreviated to BZS) for a token sale to investors in exchange for digital currencies – restricted to Ethereum and Bitcoin.
BZS token holders can trade their tokens for goods and services on the platform as well as sell their products and services in exchange for digital currencies. Users are also eligible for referral bonuses in the form of BZS tokens from the sellers for every referral that leads to a sale. All transactions involving the BZS tokens are exclusive to the platform. Transaction fees charged to the user are dependent on the number of tokens a user owns. For users with . over 48,000 BZS tokens in their wallet, all transactions are processed to for free.
Update on Bazista
A total of 440 million BZS tokens were released by the BZS team in readiness for the ICO. 76% (3% for pre-ICO and 73% for the crowdsale) of the 440 million tokens being 334,400,000 tokens was allocated for the ICO. The remaining 24% were shared thus;
- 15% (66,000,000) – Founders and Team
- 4% (17,600,000) – Reserves for the marketing campaign
- 3% (13,200,000) – Advisors
- 2% (8,800,000) – Bounty Pool
The minimal cap being the least amount of capital that needs to be raised if the ICO is to be considered successful is $1.3 million – about 3,800 ETH, while the hard cap is set at $9.9 million – about 29,200 ETH. The pre-sale ICO was held within a five day period between November 16th, 2017 and November 21st, 2017 with a 45% bonus cap for the early investors. At the end of the pre-sale, a total of 12,841,376 BZS tokens were sold, and approximately 1100 ETH raised. The first and what was supposed to be the only round of the crowdsale started on the 4th of December 2017. On December 26th, Bazista exceeded its soft cap target by 31% with a total of 54,829,568 BZS tokens sold.
On the 31st of December 2017, the CEO of Bazista, Vakhtang Abuladze announced the second round of the crowdsale necessitated by the requests of a community of investors who wanted proof of work before committing to the project. The token sale is currently ongoing, it started on the 7th of January 2018 and will run for about 2 months until the 2nd of March 2018. The tokens are sold at the rate of 11,000 BZS for one Ethereum. 66 million tokens were offered for sale in the 2nd round while the remaining tokens were set aside for a third round on the ICO projected for some time in the spring of 2018. Unlike the pre-sale and first round of the token sale, there are no bonuses attached to ongoing ICO.
Unsold tokens are supposed to be transferred into the marketing budget, but with the booming interest in the ICO, it’s unlikely the will be tokens left unsold at the end of the token sale. Funds raised during ICO campaign will be distributed as follows:
- 35% – platform development
- 55% – marketing campaign
- 10% – administrative expenses
BZS tokens are set to hit cryptocurrency exchanges at the end of the 2nd round. For more information on their ongoing and future ICO, visit their website here.