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About ShareToken
Key Points
- ShareToken (SHR) is a digital utility token used for payments on the ShareRing platform.
- ShareRing is an open-source blockchain-based platform using distributed ledger technology and a dual token mechanism.
- The platform aims to overcome the fragmentation in the service sharing economy.
- SHR tokens can be staked to earn rewards (flowbacks) and used to pay for transaction fees on the ShareRing network.
Founders
- Co-founders: Tim Bos, Rohan Le Page, Peter David, Neville Christie, Jane Sadler-Kidd, and Barry Brewster.
- The founders have a background in
About ShareToken: Empowering a New Era of Digital Asset Sharing
Introducing ShareToken (SHR): A Revolutionary Digital Asset
ShareToken is a digital utility token designed to facilitate seamless payments for a diverse range of sharing services, transcending industries and geographical boundaries, within the comprehensive ShareRing ecosystem, comprising the ShareRing application, ShareRing shop, and each user’s unique ShareRing ID.
ShareRing is an innovative, open-source blockchain-based platform that leverages distributed ledger technology and a sophisticated dual token mechanism to facilitate seamless interactions.
According to the visionary founders and developers of the ShareRing platform, the prevailing service sharing economy is beset by fragmentation and complexity, often leaving consumers overwhelmed. However, the innovative utilization of ShareToken on the ShareRing platform elegantly resolves this dilemma by providing a unified, decentralized marketplace and digital currency, thereby enabling secure, seamless access to global services and facilitating effortless payment.
In 2019, the visionary founders of the platform and its corresponding digital currency shifted their attention to the travel industry, giving rise to TravelRing — a pioneering B2B model that exemplifies the vast potential of the ShareRing platform, placing the consumer at its core.
Beyond their utility in settling transaction fees on the ShareRing network, SHR tokens also offer the opportunity to be staked, thereby generating rewards in the form of flowbacks.
The Visionaries Behind ShareToken: Meet the Founders
ShareRing, along with its underlying ShareToken, was co-founded by a team of six visionary individuals: Tim Bos, Rohan Le Page, Peter David, Neville Christie, Jane Sadler-Kidd, and Barry Brewster.
Pioneers like Bos, David, Christie, Sadler-Kid, and Brewster had already embarked on developing a cutting-edge car-sharing and rental technology solution well before the emergence of ShareToken and ShareRing. Their innovative endeavors focused on enhancing the accessibility of shared services. The creation of Keaz, a white-label car-sharing solution, had equipped the founders with invaluable insights into the requirements for empowering consumers to leverage specialized software for car-pooling, ride-hailing, and vehicle rentals.
Rohan Le Page boasts an impressive background in the automotive sector, having previously held the position of Chief Operating Officer at ShareRing until June 2020.
The remainder of the ShareRing team comprises a diverse ensemble of professionals, boasting a rich tapestry of skills and expertise, with developers, engineers, designers, marketing specialists, and other talented individuals all contributing to the collective effort.
Unveiling the Unparalleled Advantages of ShareToken
Notably, ShareRing pioneered the implementation of a groundbreaking dual token mechanism, comprising ShareToken (SHR) and SharePay (SHRP), a paradigm-shifting innovation in the industry.
At the heart of the ShareRing ecosystem lies ShareToken, a utility currency designed to facilitate seamless interactions. In tandem, SharePay, a stablecoin, is utilized to process payments for sharing services within the ShareRing platform, ensuring a secure and efficient transactional experience.
SHRP serves as a convenient medium of exchange for goods and services between users and service providers. By leveraging SharePay, the platform effectively simplifies the complexities associated with cryptocurrency, thereby reducing the number of hurdles faced by novice cryptocurrency users.
Concurrently, the ShareToken serves as the driving force behind the ShareRing ecosystem and decentralized ledger, as service providers are required to utilize SHP tokens to settle their transaction fees.
In tandem, these digital currencies empower consumers to maximize the benefits of the ShareRing platform. The platform’s founders envision ShareRing as the “Amazon of the service industry,” a comprehensive, one-stop solution for accommodation, transportation, and miscellaneous activity services, eliminating intermediaries and, consequently, extraneous costs.
What Is the Circulating Supply of ShareToken (SHR) Coins?
As of January 2021, a total of 2.12 billion ShareTokens are in circulation, representing a portion of the maximum possible supply of 4.4 billion SHR.
Upon its inception in late 2019, the ShareToken debuted with an initial circulating supply of 1.97 billion tokens. As stated on the ShareRing website, the initial SHR supply was allocated as follows:
- Cornerstone investors – thirty-one percent
- Private Equity Investors and Institutional Investors – one percent
- Initial Coin Offering (ICO) – eleven percent
- Core team – eleven percent
- Airdrop – one percent
- Operations (frozen tokens) – forty-five percent
In a demonstration of their commitment, all team members have voluntarily agreed to a token lock-up arrangement, whereby they are required to obtain approval from the ShareRing board prior to selling more than 10% of their SHR holdings.
The Security Architecture of the ShareToken Network
The ShareToken was initially introduced as an ERC-20 token on the Ethereum blockchain, but subsequently underwent a pivotal migration to the BEP2 standard in July 2019, coinciding with its launch on Binance Chain.
As a BEP2 token, ShareToken benefits from the robust security afforded by the underlying Binance Chain, which leverages a hybrid consensus mechanism combining Tendermint BFT and delegated proof-of-stake (dPOS) to safeguard against a diverse array of potential attacks.
Where to Acquire ShareToken (SHR): A Comprehensive Guide
ShareToken boasts moderate liquidity and is listed on nearly a dozen prominent exchange platforms. Notably, it is available on centralized exchanges such as Bilaxy, KuCoin, and Bithumb Global, as well as decentralized exchange (DEX) options, including Uniswap (ERC-20 SHR only) and the Binance DEX.
As of January 2021, ProBit Exchange stands out as the sole platform offering a unique SHR to fiat trading pair (SHR/KRW), thereby providing unparalleled market access. To learn more about the convenience of purchasing cryptocurrencies using your credit or debit card, please click
here
.
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Delve into the world of Ethereum (ETH), the pioneering blockchain that serves as the foundation for ShareRing.
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