Impily Utility Token (ERC20 Network)
Our cryptographic IMPLY token was based on the well-known and proven ERC20 network, thanks to which we were able to quickly and safely perform transactions between wallets throughout the Ethereum Ecosystem and beyond. The main task of the IMPLY utility token is to enable our users to make quick transactions within the website, as well as to obtain additional privileges for its owners, such as:
– payments for purchased cryptocurrencies at the best rates
– payment of fees and commissions
– access to special offers for its holders
– organic increase in the value of the tokens held
The total number of IMPLY tokens issued is 1,000,000 and it is impossible to produce additional ones.
Thanks to this great advantage, which not only limits the possibility of speculation, but also limits the supply and thus contributes to an increase in the value of the issued token. Each purchase of the IMPLY token reduces its available quantity. Each purchase of tokens by users increases the number of IMPLY tokens in circulation, until the pool of 1,000,000 is exhausted.
When creating the IMPLY token, we decided to use one of the best solutions available on the market – the ERC20 network, thanks to which our cryptocurrency – IMPLY was created.
Anyone with at least a little cryptocurrency experience has heard of the Ethereum network. The ETH cryptocurrency is an outstanding achievement of our time, primarily due to an innovative approach to security and independence. Its advantages are also low transfer fees and its dizzying speed, allowing you to perform thousands of transactions per second. The ERC20 network is one of the most frequently chosen by Entrepreneurs as an environment for building their own tokens. This made us choose the Ethereum Network as the base for our token.
The planned economy of the IMPLY token is a key point in the development of the project and is one of the pillars of the success of the entire Impily project. A well-thought-out mechanism for the flow of tokens and their redistribution in the ecosystem is necessary for the stable growth of their value. The entire platform has been designed in such a way that its individual elements mutually support the economy of the IMPLY token and increase its value along with the increase in the number of its usefulness (i.e. the possibility of use by each user).
When planning the construction of our website, from the very beginning we focused on creating a Utility Token, i.e. a utility token. Unlike speculative or investment tokens, a utility token gives much wider possibilities of controlling its value and is much less susceptible to market fluctuations, speculations or strong corrections.
The IMPLY token is used by the platform of our ecosystem to exchange digital currencies, make payments, trade and gain access to additional services and system functionalities. In addition, our team is constantly working on completely new functionalities. They will increase the usefulness of the token and the possibility of investing it in various ways. Withdrawal of tokens from circulation increases their value.
Designing and implementing further utilities is one of the pillars of the economy of the IMPLY token. This will increase the possibilities of having a token, and thus increase the demand for the token.
The IMPLY utility token meets all the requirements of “Utility Tokens” defined in the draft Position of the Polish Financial Supervision Authority (UKNF) on issuing and trading in cryptocurrencies of July 16, 2020.