Strengthening $BBT
In order to further strengthen the long term outlook for $BBT token, we are introducing the swap $TRD for $VBS initiative. This will have the following impacts:
– With less $TRD in circulation, less $BBT is being distributed reducing the sell pressure on $BBT
– $TRD holders have a choice to convert (part of) their $TRD into a more liquid $VBS token with returns in $USDD instead of returns in $TRD & $BBT.
The reduced distribution of $BBT will help supporting the value of $BBT. This year TuruGlobal has bought 13.5M $BBT back from the market and the expectation is that the buy back amount will steadily increase over time.
What is $TRD
$TRD is the investment token into TuruGlobal, which gives you a monthly return in $TRD of 0.5% monthly interest paid in $TRD and it gives a quarterly return in $BBT of 15 $BBT per $TRD on a quarterly base…
In order to give the $TRD holders a chance to exchange their $TRD in a more liquid token we have the following initiative involving VersacBrickSquad.
VersacBrickSquad
Based on the low community enthusiasm and the bureaucratic struggles we had with the apartment we decided to sell our VBS apartment and all the bricks (shares in the apartment) are being bought back from the market plus they generate a monthly interest of 0.5% paid out in $USDD monthly until they are bought from the market.
TuruGlobal still holds a significant amount of $VBS and is planning 2 initiatives:
1. Replacing all bricks (for Tron holders) with $VBS tokens as the $VBS tokens have a nominal value of 1 $USDD, they are easier to buy from market in smaller portions, plus the energy cost of transferring a $VBS token is significantly lower then transferring the brick NFT’s. This will render the NFT’s on Tron without value but gives more flexibility to the holders…
2. Giving $TRD holders the chance to swap (a portion) of their $TRD into $VBS.
Swapping $TRD into $VBS
What does this mean in practise?
Making this swap will mean you will not receive $BBT and $TRD on the swapped amount anymore but instead you will receive monthly $USDD on the $VBS you hold plus based on a FCFS (first come first serve) manner your $VBS will be bought from you at the nominal value of 1 $USDD per $VBS.
We have a maximum of 1000 $TRD to be swapped for $VBS at this round at a 1:1 rate.
In case $TRD holders want to offload more $TRD for $VBS this will be done at a reduced exchange rate of 0.5 $VBS per $TRD for holders above 10k $TRD. Holders above 10k $TRD can swap up to 50% of their remaining amount..
< 1 000 $TRD: 1$TRD = 1 $VBS
> 10 000 $TRD: 1 $TRD = 0,5 $VBS
Example.
If you hold 31k $TRD you can swap 1k $TRD for 1k $VBS plus 15k $TRD (half of 30–1) for 7,5 k $TRD and 8.5k $VBS.
The swap can be done by sending the $TRD tokens to the following address:
TXAZpYqj5vk3JQJCjDowJvFfCqgSBxnqyc
Usually within 24 hours the corresponding $VBS will be sent to the sending wallet address.
This offer will be valid for 1 month, meaning the deadline for the swap is November 8th 2024.
Purpose
With this initiative, we want to serve $TRD holders to cash out against a more liquid token ($VBS) with monthly interest in $USDD and reduce the amount of outstanding $TRD.
It reduces the amount of quarterly paid out $BBT tokens to $TRD holders. we are to reducing the sell pressure on $BBT further…
Together with the $BBT burn volume and the amount of $BBT bought from the market, it will result in a shrinking supply of $BBT tokens which should be good for its value.
This further supports the BabyTuru Defi infrastructure bringing more and more value to the $BBT token.
