The team has sold more than 30,000 electric bikes and Toba is now designing its own bike called the model BH TOBA-T that’s set to release next year. The TOBA token created on top of the Bitcoin Cash (BCH) network using SLP will be rewarded to customers cycling on Toba-sold bicycles. Toba is exclusively accepting digital assets such as BCH, BTC, and toba (TOBA). The company says that toba users will get a 10% discount on Toba products and bicycles using the token.
“Toba is using cutting-edge technology to deliver long term value to users,” the founder and CEO of Cryptophyl Semyon Germanovich explained. “We’re delighted to be the exchange of choice for listing their token and to be working with another UK-based company with an innovative business model, made possible by the Simple Ledger Protocol.”
Germanovich further detailed that toba will be listed on the exchange with other SLP tokens such as spice, honestcoin, and drop. According to Toba Electric Bikes, the toba token will be spendable with the company on December 16. The reason for the wait is so the token can gain a one-month period of market price discovery. Additionally, Cryptophyl disclosed $35,000 worth of toba tokens will be airdropped to drop holders
“Cryptophyl is the most exciting exchange to launch this year because it is dedicated to the trading of Simple Ledger Protocol Tokens (SLP),” Scott Snaith, founder and CEO at Toba Electric Bikes, said during the announcement. Snaith added:
Cryptocurrency is entering a new phase of adoption with SLP. Cryptophyl is becoming a real contender in the world of applied tokenization, accelerating adoption over the coming years.
2019 has seen the SLP token infrastructure grow quite mature and many tokens now have utility and have seen price discovery. Tokens like USDH, spice, merits, flex, and ACD coin now have real-world value. With new SLP tokens created every day and a few gathering traction, it shows the nascent token economy built on top of Bitcoin Cash is just getting started.
What do you think about the Toba Electric Bike token created using the Simple Ledger Protocol? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Cryptophyl, Toba Electric Bike, and Simpleledger.info.
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The post UK-Based Electric Bike Company Launches SLP Reward Token appeared first on Bitcoin News.
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