1/ Exactly. I never understood why companies cannot build so-called "tokenized services" directly on top of established tokens such as BTC (yes, BTC was the original token). The whole category of "utility tokens" just doesn't make any sense.https://twitter.com/MaxFangX/status/976031730460012545 …
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If you could use your failed airline/ droped tokens into another airline program, service or just convert it to fiat/crypto then problem solved?
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you're assuming you can exchange the failed tokens for a good price? who would be the buyers of these failed tokens when you want to sell?
the moment they fail, their price on the market would immediately drop to zero. -
But that is the point.. if a business that has tokens made with OST fails, the tokens can always be swapped for OST (with use of the OST Wallet, no hassle with exchanges for consumers) to get their value back. This can then be spent at any OST based economy elsehwere.
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What? this doesn't make any sense. So OST the platform functions like a bank that guarantees the value behind the tokens? Are all BT-to-OST exchange rates fixed? (BT = 'branded token' using your terminology)
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I fully recommend reading this:https://medium.com/@glen_hendriks/ost-explained-684938740e98 …
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So when users have BTs, they are guaranteed a fixed BT-to-OST conversion rate. Apologies for not reading your article before making above statement. BTs are hard-pegged to OST, got it.
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But with all due respect, I still don’t see the point. Nothing changes here. All you’re doing is allowing companies to outsource the risks normally associated with utility tokens (if the companies were to launch their own) to somebody else - the OST token.
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The same risks still apply. Higher liquidity & volatility risks compared to using an established “money” token like BTC directly. More importantly, the risk of OST going under, which would instantly makes all OST & BT tokens worthless.
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