Creativecoin Whitepaper 1.0
Creative Coin Crypto (CCC)is a token launched on the Steem-Engine.com smart contract platform. It is a consumable in app token designed to integrate into daily use within the www.creativecoin.xyz websites. It's powered by Nitrous and distributed by Scotbot (services offered by steem-engine.com). These websites serve as a way to promote creative and artistic content in a community of like-minded individuals.
This token offering features:
Token sales on steem-engine.com
ongoing proof-of-brain distribution powered by Scotbot (a python based voting bot that distributes rewards based on Creative Coin stake)
ongoing distribution through delegated proof of stake mining
www.creativecoin.xyz, a custom website similar to steemit.com where post rewards are displayed in Creative Coin as opposed to steem
Creative Coin Crypto is redeemable for customizations and advertising in the Creative Coin Discord and www.creativecoin.xyz
www.creativecoin.xyz will be launched in week 2 after initial drop. Announcement will be made on @creativecoin
Initial Distribution of Creative Coin
There will be 100,000,000 tokens minted as part of the initial distribution.
10% moderators/team members
20% will be made available via airdrop to a white-list of ~4500 people
The remaining 60% will be sold on the market for Steem and used to power-up the @creativecoin account and pay for operating expenses and will be issued in waves of 10,000,000 tokens at a time as to not artificially inflate the reward pool.
Token Launch Pricing
60,000,000 Creative Coin will be available for sale in waves at a valuation of .1 STEEM:Creative Coin Crypto
Miners will be added 3 weeks after launch in limited supplies with exact numbers and costs TBD
There are 10,000,000 Creative Coin Crypto that will go to team members. These will be distributed on an ongoing basis. The first 4 drops will be weekly drops of 10,000, 5000, 5000, and 5000. With Monthly 10,000 drops thereafter for curation purposes.
10,000,000 Creative Coin will go to the @creativecoin account and can be used as the team sees fit to maintain the quality of the platform which will include the account @notcreative which will be used for posts with improper usage of the creativecoin tag.
The Creative Coin team will provide an airdrop to approximately 4500 accounts. We worked from a list of under 50,000 accounts that have been active in the last two months. We applied blacklists from trusted sources. We manually removed known multi accounts and focused on authors creating content that fits our platform niche. The potential max value is 20,000,000 Creative Coin. The initial drop will be an equal split among the approximately 4500 accounts
Ongoing Distribution (Faucets)
All financial systems relying on currency requires faucets for the currency as well as sinks. A faucet is how the currency enters the system. A sink is how it is removed from the system. Creative Coin will have 2 primary faucets that stem from token inflation: Proof of Brain and Mining.
Overall Inflation of Creative Coin will have an initial target inflation of 10% and decline every year by 1% until it reaches 4% and it will stay at 4% inflation.
Initial Maximum Supply 100,000,000 Creative Coin
Initial annual inflation 10,000,000 (if all coins sold)
Proof of Brain: 75%
Management Team: 10%
Proof of Brain: 75% of inflation will occur through content creation and curation rewards on chain.
Proof of Management: 10% of annual inflation goes to @creativecoin for administrative tasks and to cover project and network expenses into the future.
Proof of Mining 15% of the inflation can be mined. Mining rewards are once an hour. 10 separate distributions are made every hour to accounts that have staked (Mining Token Name TBD).
Token Redemption (sinks)
Tokens can initially be redeemed for 1 of three things: promotion and advertisement.
Ads Banner advertisement opportunities will exist on the platform.
Post Promotion Users can promote posts on the site by burning Creative Coin.
Creative Coin Settings
7 day payout windows
unstaking occurs in 56 days in 8 installments
Here's the list of initial settings.
"token":"Creative Coin Crypto",
Reward curve is slightly superlinear to encourage keeping Creative Coin staked on one account rather than spreading out.
Author reward is 60:40.
Cash-out window is a 7 day payout like steemit.com.
Curation is like steemit.com.
There is a downvote pool. Here you get 1 free downvote a day.
Downvoting power goes from 0-100 in 5 days like upvote power refills on Steemit.com.
To get a vote which receives Creative Coin the post has to include #creativecoin as a tag
The inflation rewards shrink every year by 1% (faster than steemit, but will change to 0% shrinking by the time it hits 4% annual inflation ie inflation won't go smaller than 4%).
Voting calculation works like steemit.com.
You get 10 votes a day similar to steemit.com.
Your voting power recharges completely from zero over 5 days (20% per day).
There is no expressed guarantee of anything with this token. It may become wildly successful, it may fail miserably. Please use your best judgement. Do not invest more than you can afford to lose.
The numbers above are guidelines and may change based on team wishes and public response. Any changes will be posted on the @creativecoin account.