DJCoin (DJC) is a utility token for the electronic dance music community. It was created on 22nd November 2020 using the Tron blockchain. Details of the coin can be found on Tronscan.
DJC is limited 210,000,000 coins and its price is regulated by the number of coins in circulation. The price is controlled by a smart contract (DJCoinPrice) which is committed to the blockchain and cannot be changed.
The first 20,000,000 DJC are priced at £1. Thereafter, the price rises exponentially to a limit of £1,003,467.87 for the last coin.
Phase 1: Utility Token
DJC will be used as a token of membership to our dance music community offering entitlements and benefits to owners. These benefits will vary and increase during your ownership. Benefits currently include a huge reduction (up to 100%) on items in our shop djmagshop.com
DJ Mag’s Top 100 DJs and Top 100 Clubs attract millions of votes a year from around the world. The use of DJC for voting is to ensure accuracy and validity of the votes. The blockchain is an ideal process for this as it offers transparency and immutability. Owners of DJCoin will get access to voting rights.
Phase 2: Exchange and crypto-currency
After the initial 20,000,000 coins have been sold, the price of DJC will rise (based on DJCoinPrice). This will offer an opportunity for owners of DJC to sell their coins on a DJCoin.com exchange.
Phase 3: e-Money
Roll out to 3rd-party ticketing sites, streaming services and nightclubs.
DJCoin is a utility token which will be used across DJ Mag's platforms, with potential uses ranging from validating votes to offering holders discounts in the DJ Mag Shop. However, as the circulation increases so does the price. This will offer initial buyers an opportunity to make a profit on their coin through our exchange. The more popular DJCoin becomes the more it transitions from a utility coin to a store of value.