Keyi Store is an e-commerce store that allows blockchain companies to list their tokens to in their store and buyers can buy products from the store and pay through the tokens listed in their website. Of course, we don’t accept all blockchain companies and their tokens, but if you have a great community at least 2000 active members, you can join the Keyi Store. There is no charge to be listed in the store. So, now the token holders can buy products at no extra cost. Yes! Buy products with ERC20 tokens at no additional charge. This allows the token to be used plus this provides confidence for the token holders as well.
Well, it is beneficial for the company, token as well as the token holders. Many or rather most blockchain companies fail because their tokens aren’t used. Keyi Store has a payment gateway that can work with Metamask wallet, so there is no problem in listing the coin for payment. Keyi Store can also stabilise the token price should garner trust among the token holders. Currently, Keyi Store is accepting ERC20 and ERC223 token. Keyi Store will also accept tokens from any blockchain company with enough token holders and with a payment gateway in case, it is not ERC20 or ERC223. Currently, Keyi Store partnership program is open.
One of the reasons why the wave of cryptocurrency is dwindling is because most of the new ERC20 tokens don’t have a way to use after the ICO. That creates a massive problem for the blockchain company as well as the owners of the cryptocurrency. The company takes forever to develop a cryptocurrency whereas the owners don’t see any ROI. Most ICOs doesn’t put a disclaimer showing the risk of investing in an ICO, that’s because they don’t want to caution the investor about the more significant risks even if the ICO manages to raise millions.
After 2018 Cryptocurrency boom the cryptocurrency was shaken by the rules and laws by countries, mainly US, India, Japan and South Korea. Then China banned almost all crypto-related commercial activities. The Next Web wrote that “China brags its cryptocurrency ban….”, well you can see why cryptocurrency related activity lowered in 2019. Even the prices dropped beyond imagine. The result was that only cryptocurrency that was ruling the market before are the ones that have momentum now.
It takes about 21 days at an average for a company to be listed in an exchange. Most of the decentralised exchanges are free and will put up your coin without much problem. But the problem is that there aren’t any buyers for the coin. So, the price doesn’t change. Most of you might have seen that when trying to exchange your token for other there aren’t any buyers. There aren’t any buyers because other people don’t need that token; if there’s a need it would have sold.
According to a report is that only 34.2% of the token has some utility, that also includes tokens from companies whose products are still under development. About 65.8% of token only function as a payment service for the services of the project. ETH can easily replace that. Now you can see that niche has been narrowed. So, the price of tokens doesn’t if the companies aren’t providing something that’s changing the web. Well, blockchain technology itself is impressive.
Also, you see that ICO has been raising less amount in ICOs, CoinSchedule has compiled a list and found that funds raised are lowering each month. It’s because more people aren’t joining into cryptocurrency, that may be because there isn’t any service they can use or it simply possibly because the fiat system is just much secure and comfortable.
So,Keyi Store provides a way for tokens to be used within their platform. People can now buy products with the tokens they have. This will enhance the usage of tokens as well as garner the confidence for the cryptocurrency.