Send Back (SDBK) Token

Burn SDBK tokens and get a chance to be rewarded with a multiple of the original token price

How does SDBK work?

SDBK tokens live on Binance Smart Chain (BSC). They fullfil BEP20 token standard and also their special redeeming feature can fully be addressed by BEP20 methods. Accordingly, you can use most popular crypto wallets to deal with SDBK tokens and you don't need any additional web or mobile app. So get started with SDBKs!

SDBK follows a simple, fair and transparent kind of lottery principle:

  • SDBK tokens cost a fixed price given in BNB. To buy them just send BNB to the address of the SDBK smart contract. For this you may use a crypto wallet of your choice. After the transaction has been processed you see purchased SDBKs in your wallet.
  • SDBKs are generated ("minted") whenever you are sending BNBs to the SDBK contract. There's no upper limit of the total token supply. Furthermore, there haven't been any token presale phases or ICOs as typical for other crypto currencies.
  • All BNBs are collected in the smart contract. For each minted SDBK a small fee is calclated and transferred to the contract owner. The remaining BNBs form a prize pool for rewarding the token holders that are successfully redeeming their SDBKs.
  • You can redeem your SDBK tokens anytime you like. You just need to send tokens back to the address of the SDBK smart contract (using your standard crypto wallet app again).
  • Anytime a token is redeemed one of all tokens currently circulating is selected randomly. If the chosen token is the one you are currently returning you will be rewarded with a predefined share of the current prize pool  - comparable to a win in a lottery. If your token is not chosen nothing happens, i.e. only the redeeming person has a chance for the prize.
  • Finally, the contract burns your redeemed token.

Setup your Wallet for SDBKs

You can use your crypto wallet of choice for dealing with SDBKs if it's provided with the following functionalities:

  1. Your wallet must support Binance Smart Chain (BSC Mainnet). Some wallets are already prepard for Binance, e.g. coinbase wallet, Trust or - for sure - Binance app. In this case you can select Binance network from a predefined list of blockchains. Other wallets like MetaMask offer the possibility to setup connections with custom networks. For this you have to enter relevant BSC data like endpoint URL or chain ID manually. All necessary information is given in this example from MetaMask mobile app or in Binance documentation.
  2. Your wallet must offer the possibility to import custom tokens. Wallets are shipped with a list of popular standard tokens like BTC, ETH or BNB which can be handled out-of-the-box. However, minor coins like SDBK have to be setup manually by app users. This can be done via an import function included in most wallets. In general you just have to enter the address of the SDBK contract. Then token name, symbol and digits are requested automatically.

So setup your wallet for BSC Mainnet and SDBK token first. After that you are able to receive and send SDBKs. And that's all you need to benefit from SDBK's redeeming feature.

Good to Know

  • The token profile provides all relevant information needed for using SDBK, e.g. the contract address, token cost, fee and prize share. The parameters are fixed for the contract lifetime and will not change.
  • Let's walk through an easy example to understand prize logic and parameters of SDBK:
    > 2.000 tokens sold for 0.01 BNB each
    > 20 BNB in contract
    > 19 BNB in price pool (because of 5% fee)
    > 9.5 BNB prize in case of successful redeeming (because of 50% prize share)
    > 4.75 BNB, 2.375 BNB, ... for next winners (if no new tokens sold in the meantime)
  • Buying tokens: The whole amount of BNB sent to the address of the SDBK contract is converted to SDBKs. Potential overpayings (=amounts smaller than the cost of one token) are not refunded.
  • Redeeming tokens: If you send an amount of SDBK tokens > 1 to the address of the SDBK contract each token gets a chance so finally you could win even twice or more. But there would always be only one payout about the cumulated amount of all prize values. Let's make an example and assume you send back 10 tokens with current price pool of 10 BNB and 50% price share. If 2 tokens are redeemed successfully you will get a total reward of 7.5 BNB paid in one transaction. 
  • For sure, you can also transfer (receive) SDBKs like any other BEP20 token to (from) other parties.
  • Please make sure that transactions for buying and burning tokens are equipped with sufficient gas. In general, gas estimation is done properly by the wallets but if a transaction should fail because running out of gas please retry and increase gas maximum of the transaction (unused gas is refunded so don't be shy).
  • SDBK contract code is visible on BscScan because we want you to be aware about all logics included in the token contract. For sure, other details about transactions can also be found on BscScan, e.g logs showing a history of all minting and successful redeeming events.
  • We are going to develop a mobile app for iOS and Android that will give you more information and functions, e.g. current size of the prize poll, history of paid rewards and options for buying and redeeming tokens directly in the app instead of using your wallet. Please follow us on this website or on Twitter for updates.
  • The token is equipped with an "exit" function that allows the contract owner to withdraw the total amount stored in the contract if and only if there aren't any tokens minted or burned for 90 consecutive days (in this case the token would be considered as "dead").

About Us

SDBK is a private project born from an idea to develop a blockhain based token equipped with a fair and transparent lottery like redeeming functionality.

We are honestly interested in any kind of your feedback about SDBK token - questions, improvements or critics. We are going to listen to all of your comments and try to consider as much as possible of your ideas and suggestions for future developments and actions.


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