What is SSLX?
Author @disop (Yuri Tabachnik) (Link to author`s profile in Sl8)
Ukrainian version of this post contained completely different analogies. I used them just because the level of financial knowledge in our country is usually less than in well-development economics. This can be explained easily—modern Ukraine is really young. Recent history of Ukraine as an independent state has been thirty years only (we’ll celebrate the 30th anniversary of our Independence on Aug 24th), and there was no investment culture at all in the former USSR. However we are learning, and learning fast. Just let us grow )
In short—SSLX is an investment cryptocurrency of Sl8 social cryptonetwork. This unique financial instrument combines the pros of antiques, cash, bonds and stocks.
Why antiques? Because only 10 billion of the SSLX were issued, the issuing account is now closed. There is no more way to issue, mine or produce more SSLX coins in any other way—this is physically impossible because of Stellar’s blockchain functionality. No more endless money prin…. sorry, “quantitative easing”, of course. If you are aware of how Stellar works—you can check the status of the SSLX issuer account here: https://stellar.expert/explorer/public/asset/SSLX-GBHFGY3ZNEJWLNO4LBUKLYOCEK4V7ENEBJGPRHHX7JU47GWHBREH37UR and verify it is indeed locked.
Why cash? Firstly, this coin is a medium of exchange in the Sl8 network. You can use them for liking other posts and earn coins by getting SSLX likes under your own content. Secondly, SSLX can be freely exchanged to other cryptocurrencies. And last but not least- SSLX has the fixed “buy-back” price defined by Cassator Corp (owner of Sl8), so you can always sell your SSLX coins back. They are not locked, you can buy and sell them at any moment.
Why bonds? Because you can “stock” the SSLX coins and get a fixed income on them. “Stocking” is an operation very similar to generic time deposit in banks—locking your money for the appropriate amount of time for the reward. The APR (annual percentage rate) is 9% to 15% depending on the staking conditions. Have you seen such rates somewhere on the bonds marked (even including high-yield ones)? I haven’t.
Why stocks? Here is the most interesting part. I meant before that there is a fixed buy—back price for SSLX coins defined by Cassator Corp. Here is where the magic comes. This price is backed by the capitalization of Cassator Corp and will grow together with capitalization of the company! Note, that the Sl8 is now an early-stage startup which will have multiple investment rounds in the future, so its price will increase in orders of magnitude, as well as the price of SSLX.
BTW, there is no way to buy all 10 billions of SSLX at the same moment — they were issued, but just not available at the market. The token supply to the market is 1% per month, going hourly in small equal batches starting 2021-05-23 18:39:40 UTC. It will take approximately 100 months to supply all tokens to the market. That is why Sl8 calls this Coin Offering — a Crawling one.
Moreover, there are no SSLX tokens for sale at the fixed price anymore — this initial period is now over, and you should either go to the exchange to buy coins or to take part in various activities created by Sl8. Keep an eye on @Cassator posts to have the latest info about them.
Some statistics information about SSLX can also be found here: sslx.sl8.online
P.S. I am a software developer currently working on a Risk Management system for US customers, so I know a little bit about various financial instruments. To tell you the truth, I have never seen something like SSLX. Did I invest in them? Of course, yes )