What is DEBIT COIN (DBC) and what can you do with It
Debit Coin (DBC) are special tokens intended to develop the project at an early stage and manage it in the future. The number of DBC tokens is 100 million. The number of DBC can only be increased by voting by a simple majority of DBC holders.
The DBC tokens are not pegged to anything. Their value stems from their dividend (seigniorage) policy and their exchange rate against CENTUS. When demand for CENTUS is rising and the smart contract creates new CENTUS to meet demand, DBC holders receive these newly-created tokens pro rata so long as all outstanding BILLEX tokens have been redeemed and holders of CENTUS also had received them. Seigniorage value for DBC holders increases with CENTUS cap level.
DBC holders receive their seigniorage only after the capitalization of CENTUS amounts to at least $10 million. After that, as the system grows and the number of CENTUS in circulation increases, seigniorage accrual for DBC holders will gradually increase from 10% to 50% of the total amount of seigniorage accrued.
DBC can always be exchanged to CENTUS at current exchange rate. The higher DBC rate the more CENTUS can be received (limited to 500 CENTUS). DBC can be exchanged only once, when exchanging they are taken out of circulation and burned.
Thus, DBC holders bear the highest risks: This can be compared to holding ordinary shares of a company, while CENTUS is more like preference ones with guaranteed seigniorage accrual, but without voting rights and fat dividends.
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