This model has many variations (depending on the type of security), but here we will cover the most basic one - the one which most non-blockchain companies use. All fees and sales on the platform are settled in another currency and BreadCoin is used only to define pro rata profit sharing. Other setup scenarios can include:

Sale of Options
Sale of convertible notes (starts as debt, pays interest, convert to equity later)
Simple Agreements for Future Equity (SAFE same as notes, sans interest)
Sale of Equity.

In our example (please consider all that follows a very, very simplified version), the platform collected 200 000 USD worth of fees during year 1 and paid 100 000 USD in expenses. Assuming a tax rate of 20%, the platform has paid 20 000 USD in taxes and this leaves us with 80 000 USD of net profit. This profit is then divided equally between all token holders. Given that we have 500 000 tokens, this works out to a 0.16 cent payout per token. Essentially, any investor in the platform would break even after 16 months. Everything after this is pure profit. Please note that the example above does not include important variables such as:

Token set aside for the founders and the team
Cost of capital (discount rate) on the investment
Other important P/L considerations

In this scenario, there is no liquidity risk per se, but shareholders could have claims to the company’s assets or require voting rights on the company's strategy.

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