Uniris will soon deliver its ERC20 token (UCO) and should be listed on IEO platform in few weeks. So it’s important that prospective participants understand the basics of the our distribution.
Archethic's cryptocurrency -UCO standing for UCO: Universal Coin - will be created soon as a ERC20 token with 10 Billion total supply. This "temporary" ERC20 will be available until our MainNet and after that the tokens will be frozen/locked and we will provide a swap to the Archethic's native token.
Meanwhile, UCO tokens will be distributed into 8 pools:
- Network Funding: Archethic foundation is the governing body of the fully decentralized, open source, public blockchain Archethic. This wallet was used by the foundation to fund the network development. Through private sale of tokens, the development of this public blockchain has been sustained thus far and the current circulating supply reflects the quantum of the tokens sold. The remaining tokens would be utilized to fund the future releases of the MainNet leading to a self-sustaining economy.
- Adoption Rewards: This wallet is meant to promote projects, enhancements, technology initiatives, and other endeavours that lead to mass adoption. These rewards would be disbursed based on the adoption milestones achieved by the respective initiatives. The planned reward disbursal would be over a period of 50 years. This will be managed and governed by DAO.
- Team and Advisors: The people dedicated to the development of the Archethic open-source, public blockchain would be rewarded through this wallet.
2 years cliff from TGE with 60 Months linear release with holding incentives & 3 years Cliff from TGE + 60 Months linear release
- Staking: Each year 9M UCOs would be earmarked for staking rewards. The APY would be decided through market conditions.
- Exchange Liquidity: This pool is used for managing the CEX and DEX liquidity
- Dynamic Miner Rewards Pool: The purpose of this wallet is to achieve the goal of self-sustenance. The miner incentives must reflect the cost of running the node, hence this value must be indexed to fiat currency. This would be a fixed value incentive which would more than compensate the cost of running the node.
The economics of reaching the goal of self-sustenance will require the miners to be compensated for running the node even when the transaction fees cannot cover those costs. This pool would be used to ensure the incentive payment to each miner. This is the period of inflation when the tokens from this pool get added to the circulating supply.
Then comes the phase of equilibrium when the transaction fees will cover the payment of miner incentives. During this phase none of the tokens from this pool will get released to the circulating supply.
Finally, we will reach the phase of deflation. This is the phase when the transaction fees are more than the incentives required to remunerate all the miners. During this phase we will burn the excess transaction fee and hence lead to deflation. Deflation will lead to increase of the token value based on the equation of exchange. This is a virtuous cycle which will reduce the transaction fees and miner incentives in terms of tokens since the token value increases.
Thus, this pool will have the ability to dynamically sustain the miner node economics during the phases of inflation, equilibrium, and deflation.
- Foundation: The foundation operations would be funded using this wallet. It is managed and governed by DAO.
- Gamification and Geo Incentives: In past we have seen decentralized networks may tend to get polarized in certain geographies due to various geo-political factors. To provide the most secure network, ensure data security and help in disaster management, the decentralized network must ensure the best possible worldwide distribution of nodes. In a blockchain protocol the code MUST be the law and hence incentivization of decentralizing the network MUST be codified.
Apart from true decentralization, we need to design incentives beyond the daily remuneration to attract and retain network nodes. Research (https://openstax.org/books/psychology/pages/6-3-operant-conditioning) has shown that gamification supports the proverbial nudge theory. It is that added incentive that keeps the network hooked-on.
This wallet is meant to support these objectives. The tokens from this wallet would be used to reward the nodes that come up in the parts of the world that are not already on the network and reward the network participants for being hooked-on the network. Gamification would be at the heart of achieving both the objectives using the psychology of variable value reward given in variable period.
Code source of our token is available here: https://github.com/uniris/erc20
Archethic Public Blockchain
Archethic is a Layer 1 aiming to create a new Decentralized Internet.
Its blockchain infrastructure is the most scalable, secure & energy-efficient solution on the market thanks to the implementation of a new consensus: "ARCH".
Archethic smart contracts expand developers' boundaries by introducing internal oracle, time-triggers, editable content & interpreted language.
Through native integration for DeFi, NFTs & decentralized identity; Archethic offers an inclusive and interoperable ecosystem for all blockchains.
In order to achieve the long-term vision of an autonomous network in the hands of the world population, we developed a biometric device respecting personal data privacy (GDPR compliant).
Making the blockchain world accessible with the tip of a finger. Be the only key! https://www.archethic.net/
Archethic Foundation Non-profit in order to manage decentralized governance of the public blockchain