Plastiks

The PLASTIK token is used as a transparent, traceable proof of payment between plastic credit purchasers and recovery entities, functioning as a digital receipt logged on the blockchain, with funds transferred only once all required credits to fulfill the roadmap are sold; after roadmap completion, tokens are returned to Plastiks, which then initiates a wire transfer to finalize payment, enhancing transparency and accountability.

The token serves as a payment traceability tool. The Plastik token’s utility consists of tracking the progress of the sale of plastic credits corresponding to the roadmap that a recovery entity is attempting to fund. Once the number of plastic credits sold corresponds to the roadmap amount is achieved, the tokens are returned to Plastiks to release the funds for the implementation of the roadmap.  Specifically, the Plastik token’s utility consists of tracking the progress of the sale of plastic credits corresponding to the roadmap that a recovery entity is attempting to fund. Once the number of plastic credits sold corresponds to the roadmap amount is achieved, the tokens are returned to Plastiks to release the funds for the implementation of the roadmap. Each time a Plastic Credit is sold, 80% of the value is sent to the waste Recovery Entity’s 4. The PLASTIK Token White Paper - Subject to ongoing revisions. account in the form of PLASTIK tokens. 2024 Once the recovery entity has sold all the plastic credits required to fulfil their roadmap, they return the tokens. Once the tokens are returned to Plastiks, the funds that are held in custody by Plastiks until the number of plastic credits needed to fulfil the roadmap are sold, are transferred via USD or EUROS. There is a 2% token transaction fee that is charged on all use of the Plastiks token. This fee is used to buy PLASTIK tokens from the market to reflect the progress being made of plastic recovery with the goal of reducing the supply of available tokens to 1 remaining Plastik Token