BuildTeam • Blockchain Innovators

Market Statistics

The BuildTeam Model

BuildTeam compensates its building team and bounty hunters with BUILDTEAM tokens as a method of incentivising the development, marketing and growth of the BuildTeam network and projects. Holders of BUILDTEAM tokens are able to stake BUILDTEAM for a discretionary percentage of the nett STEEM cryptocurrency rewards revenue from the various official projects on the BuildTeam network.

The semi-monthly distribution process, distributes STEEM on a proportional basis depending on how many BUILDTEAM tokens each participant has staked.

BUILDTEAM tokens were never sold in a crowdsale, nor are they available for sale directly to the public and can only be earned via direct time and effort contributions to the official BuildTeam project network.

BUILDTEAM can however be bought and sold by anyone on secondary markets on various exchanges such as Bitshares and Steem Engine. (See the tutorial videos at the bottom of the page for details.)

Specifications

Ticker: BUILDTEAM
Platform: Bitshares | Steem Engine
Token Type: Bitshares User Issued Asset (UIA) | Steem Engine Steem side-chain token
Taxonomy: Limited Circulation Token (LCT)
Algo: Proof of Productivity (PoP) and Virtualised Proof of Stake (VPOS)
Consensus Mechanism: DPOS (Delegated Proof of Stake)
TPS/Max: 100,000 TPS
Block Target Time: 3 Seconds

Vesting Period: 13 (thirteen) Weeks
Vesting Rewards: Discretionary nett STEEM revenue share, distributed semi-monthly

Maximum Supply Cap: 1 000 000 (1 Million Tokens)
Issuance Rate: Max. of 5000 tokens issued each month (2500 twice per month)

Proof of Stake

BuildTeam generates revenue from its various apps and projects. Nett revenues are collected and converted into STEEM and amassed into the BuildTeam General Fund for programmatic distribution.

Proof of Stake allows a token holder to vest their tokens in exchange for a discretionary share of the nett rewards. The more tokens staked, the larger the percentage of staking payouts that will be received.

The amount of STEEM rewards paid out will be proportional to the number of tokens staked in relation to all other users who have staked tokens and is dependent on the overall quantity of STEEM distributed.

The more BUILDTEAM staked, the more STEEM rewards will be received by the stakeholder!

Issuance and Monthly Rewards Distribution

BUILDTEAM tokens are issued semi-monthly (twice per month) on the 15th and 30th, to approved builders and bounty hunters with Proof-of-Productivity (PoP) claims, verified and authorised by the payroll committee for distribution.

STEEM reward staking payouts are also distributed semi-monthly, on the next day, being the 1st and 16th of each month. The delay serves as a buffer to afford BUILDTEAM token recipients a chance to adjust their staking balances before the STEEM nett revenue rewards distribution process.

Nett STEEM project and app revenue that have accumulated over the previous 2 (two) week period will be distributed to BUILDTEAM stakeholders from the BuildTeam General fund. The size of the fund will not be announced before distribution as it will undergo a consolidation process leading right up to the point of distribution.

When BuildTeam branches out to build on other blockchains, income in those currencies will also be paid out to Stakeholders, either by converting back to STEEM and adding to the BuildTeam General Fund or by sending the native tokens direct to the wallets registered against the BUILDTEAM tokenholders' accounts.

Issuance of Liquid BUILDTEAM tokens to builders was amended to take place on the Steem Engine DEX instead of on the Bitshares DEX as of June 2019. Autostaked and manual staking functions still happen on Bitshares.

Sample Payout Pool

Assumptions:

Assume the entire nett revenue share pool is 1000 STEEM.

The total amount of staked tokens is 100 BUILDTEAM.

Joe stakes 35 BUILDTEAM tokens.

Mary stakes 45 BUILDTEAM tokens.

Fred stakes 20 BUILDTEAM tokens.

The results of the above scenario would yield the following:

Joe receiving 350 Steem

Mary receiving 450 Steem

Fred receiving 200 Steem.

Staking Cutoff and Payout Process

Note that the payout amount for each individual is determined at the exact moment of distribution. It is perfectly acceptable to establish or amend a stake as little as 10 minutes before distribution occurs, and you will still get your correct share. Once the moment of distribution arises, any newly staked tokens will count toward the following payout, but not the payout which is underway.

Stake Powerdown

Once you have staked your BUILDTEAM tokens, they are essentially frozen as long as they remain staked. Staked BUILDTEAM cannot be traded on the Bitshares or any other market. These tokens are effectively out of circulation, hence the Limited Circulation taxonomy of the BUILDTEAM token.

There is however a new feature that allows a stake-to-stake transfer between stakeholders, in which case stakeholders can engage in private OTC (Over-The-Counter) deals with counterparties, to sell their stake for other forms of liquid payment should they desire.

The powerdown process which unstakes BUILDTEAM tokens into liquid and tradeable form once again is detailed as follows:

After sending the initiation memo, the powerdown process takes 13 weeks to complete.

You will get a 1/13th portion of your BUILDTEAM tokens back once per week.

At the end of 13 weeks, all of your BUILDTEAM will have been returned and your stake will be Zero.

While powering down, you will still earn staking payouts for the portion of your BUILDTEAM that remains staked.

Powerdowns can be stopped at any time, in the event you change your mind and decide to leave some tokens staked.

Note: Further information on how to initiate powerdowns and other functions can be found below.

Buying Tokens

Exchanges

https://wallet.bitshares.org/#/asset/BUILDTEAM

https://market.rudex.org/#/market/BUILDTEAM_BTS

https://steem-engine.com/?p=market&t=BUILDTEAM

Step One

If you don't have a Bitshares wallet, create one here: https://wallet.bitshares.org

Also, consider downloading the Bitshares desktop wallet for a more secure way to transact. The wallet can be downloaded here: https://bitshares.org/download/

Step Two

Fund your Bitshares DEX account with an approved cryptocurrency. In addition to Bitshares (BTS), BTC, DASH and many other tokens are accepted as well. (If you are already a BUILDTEAM token holder and have sufficient BTS for transaction fees, skip to Step Four)

Step Three

Click on the following link to go directly to the BuildTeam exchange on Bitshares DEX:

https://wallet.bitshares.org/#/market/BUILDTEAM_BTS

Use the 'Buy' panel to purchase the desired quantity of BuildTeam tokens.

Bitshares to Steem Engine bridge

Please refer to our Steem blog post for instructions on how to move your tokens back and forth between the Bitshares and Steem Engine Dex.

Managing your Stake

There are several actions you can perform at any time to control your stake:

Important message about staking

Staking is completely automatic so it’s important that people fill out memo fields exactly as instructed. Problems can be corrected, however this is a time consuming manual process, and BuildTeam does not monitor the staked shares for errors. It is the stake holder’s responsibility to reach out for support as needed.

Buying BUILDTEAM token example screens remain from current site layout.

Staking/Autostaking is only currently possible on the Bitshares blockchain, staking will be migrated to Steem Engine circa Q4 2019, keep an eye on the @buildteam Steem blog for announcements.

Establish a new stake or add to an existing stake

Simply send the amount of BUILDTEAM tokens you want to vest to the buildteamvest Bitshares account, with your Steem account name in the memo field. The amount you send is how much will be staked.

Powerdown a stake

To initiate a powerdown, send any amount of BUILDTEAM tokens (such as 0.001 BUILDTEAM) to the buildteamvest Bitshares account, with the memo:

start powerdown {Steem account name}

If you stake to multiple registered Steem accounts, you can instead use this memo to powerdown all stakes:

start powerdown

Stop powering down a stake

As previously shown, send any amount of BUILDTEAM tokens (such as 0.001 BT) to the buildteamvest Bitshares account, with the memo:

stop powerdown {Steem account name}

Otherwise to stop all powerdowns across multiple Steem accounts, exclude the Steem name from the memo:

stop powerdown

View staking information

After sending a Bitshares transaction, it can take up to 20 minutes (but most of the time it should be less) for your transaction to be processed and changes to your stake(s) recorded. To make sure your transaction had the desired effect, you can verify your current stakes at any time by checking this public Excel spreadsheet:

[Buildteam Vested Shares Spreadsheet]

This sheet will always show the latest staking information, with data being updated automatically every 10 minutes. Stakes are displayed in alphabetical order by Bitshares & Steem account, so it should be easy to find your entry.

Stake transfers

Stake-to-stake transfers are now available; for detailed instructions on how to perform this function please visit the blog post:

[BuildTeam Token - Staking Transfer Functionality Now Available!]

Gifting a stake

The new feature allows users to gift a stake of BUILDTEAM tokens to friends, family or anyone they feel deserves a gift or tip.

For detailed instructions on how to perform this function please visit the blog post:

[BUILDTEAM token now has gifting functionality!]