# Base scenario
The investor's return in the base scenario will be as shown in the following table.
In **Year 1**, only those investors who hold their Tokens for a year (as described at the beginning of the annex) will receive the loyalty reward proportional to the investment in Tokens they hold, which will be 10% of the value of the investment made in Beself Brands.
From **Year 2**, all investors who hold Tokens will receive a dividend proportional to the number of Tokens they hold.
The table below shows that, considering the placement of all the Tokens and the results of the base scenario, the overall projected return for the investor who participates and holds their Tokens for the six years planned in the presented project will be an accumulated return of **34.6%**. This return will vary depending on the phase and subphase in which the investor acquires the Tokens, with higher returns if acquired in **Subphase 1 of Phase 1** and lower returns if acquired in **Subphase 2 of Phase 2**.
The return mentioned above is calculated by considering the average income that new investors would obtain if they held the Tokens from the initial sale until the profit distribution of **Year 6**. This **34.6%** return is reached as follows:
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This return does not take into account the variation in the value of the Token in the secondary market (Exchange), which, considering the expected projection in this moderate scenario, with an increase of **136% in equity** and the **500k€ liquidity fund** defined in the investment distribution section of this information document, is expected to be positive. (\*)
(\*) *The return derived from the variation in the value of the Token in the secondary market is defined by factors that could not be considered in the calculation due to their complexity. Once the **BeTokens** are launched on the secondary market, the company will develop marketing actions to maintain awareness and interest in them, as well as facilitate the trading of investors. Beself Brands will continue working on incorporating new exchanges as they obtain the necessary regulations, with the aim of expanding the reach and increasing the appeal of the **SECURITY TOKEN**.*
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