A Token for Green Mobility


August 27, 2020
Carsharing & Blockchain

We believe that everyone should have the opportunity to participate in a means of economic assets in order to create a passive income.
And we believe in the democratization of the sharing economy and access through simple financial products.

ELOOP is the first company in the world that makes it possible to invest in an existing, variable asset – in the case of ELOOP, the car sharing fleet – by means of a token and to participate in the journey sales. This enables a company’s stakeholders to be involved in the value chain. This means that consumers not only benefit from the company’s service or product, but also monetarily from the capital generated.

The ELOOP ONE Token (EOT) makes it possible to translate the meaning of sharing implied in the term “sharing economy” into reality and to be the first “real” car sharing provider.

Blockchain

The blockchain is recognized by many experts as world-changing potential. Technology should take the Internet to the next level as we know it. Blockchain-based products have already found their way into finance. With low transaction costs and barrier-free participation opportunities, the technology can have an inclusive effect on the increasingly exclusive financial market. With the elimination of entry hurdles, the elitist character of groups of people with financial products can be pluralized and the financial industry can be “re” democratized from the point of view of investors.

Useful applications that do justice to this task are currently still to be found in vain and the connotation of the term has not necessarily been considered positive by the majority of people since the crypto hype of 2017 and the subsequent crash of all cryptocurrencies. In order for this picture to change, applications are needed that create a benefit for society as a whole and are connected with real economic benefits. It takes a move away from highly speculative coins and tokens with no real equivalent.

General

In contrast to previous Token Sales, the EOT is not sold to raise capital, which is then used for product development, but the EOT maps an existing product. The product here is the car sharing service, which has been already developed. 

The car sharing and data monetization business are not dependent on the success of the token sale. ELOOP already owns these cars, they are operationally used in car sharing and generate sales. A user secures a virtual share in the fleet. This constellation gives the EOT a physical countervalue and eliminates the character of a highly speculative financial product, as was the case with many Token.

Tokenized fleet

The tokenized fleet in this first token sale involves 4 BMW i3 vehicles, which represent the financial hobby horses of ELOOP. The cars have the best equipment and range and generate the greatest sales. The value of a tokenized car was calculated at € 60,000 (Unlimited duration). This value also determines the total amount of EOT – Token Supply for sale.

Token supply

The number of EOTs offered, results from the tokenized fleet and amounts to 240,000 EOT, which corresponds to € 240,000 at the time of the token sale. The total number of these tokens is for sale.

Profit split

The operating profit is split 50/50 between the token holders and ELOOP. This cut is necessary so that ELOOP can at least partially compensate for the marketing and personnel costs incurred for promoting and maintaining the service. The income is also used to buy a new vehicle after the useful life of a car. In addition, the costs of the KYC check and the transaction fees that are due when the EOT is transferred to the user wallet are paid. The division takes place automatically and immediately after processing a trip.

Token purchase

The ELOOP ONE token can be purchased directly – i.e. without a broker, trading platform or bank. There are no further costs for the user and the capital flows 100% into the investment product (token). This distinguishes the token from classic securities and especially from classic crowdinvesting, in which a very high proportion usually has to be assigned to the crowdinvesting platform.

EOT can be purchased via the dashboard in the Tokens tab. Due to tax law reasons, the EOT can only be bought in pre-made packages. These packages are 250, 500, 1,000, 2,500 and 5,000 tokens. Every user is free to purchase these packages several times.

Payout

As soon as the EOT are on the user wallet, participation in the journey sales begins. For the time calculation of the participation, every hour in which the token was in the respective wallet is taken into account in order to calculate the payout amounts. The user always sees the payable amount on the dashboard. A payout is only possible if there is at least EUR 10 credit available. Amounts below this cannot be paid out. There are two options for the User to have the credit paid out. The first option is a cash-out in FIAT (Euro) and the second is a cash-out in driving-credits. EOT holders are free to carry out a cash-out or to wait. 

All requested cash-outs will then be paid out collectively on a key date per month.

Payout in Credits

The second option is to convert the payout amount into credits. This is interesting for all users who also use the ELOOP car sharing service. Token holders who choose this option will receive more driving-credits than a cash-out in FIAT. The factor is 1.5.

For more information visit our website https://eloop.one/


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