Smart Contracts

To implement Rising Coin, the following smart contracts will be deployed:

Adjuster

Adjuster is a smart contract that executes the following functions:

  • Calculates the target production cost, i.e. the top price for the day, mints and sells the right amount of coins to bring the price back to production cost.

  • Depending on the funds generated by the first step, mints the matching amount of RC and distributes RC and the paired coin to each RCT wallet. Also adds the assigned portion of RCT to the liquidity pool on AMM DEX.

  • Sends a reward to the wallet address which called it.

Below is an example Adjuster operation on RC-USDT pool. All numbers are dependent on the size of the liquidity pool; they are rounded to make the example simpler.

  1. Assume daily set production cost is $2 and market price is a little lower than that.

  2. A trader buys enough RC to push RC-USDT price to $2.2.

  3. A community member realizes the opportunity and runs Adjuster.

  4. Taking into account factors such as market price and current pool size, Adjuster calculates that it has to mint and sell 500 RC to bring the price back to $2.

  5. Adjuster mints 500 RC and sells on AMM DEX. From this operation 1,000 USDT is generated and added to RCT.

    At this point the market price is adjusted to match the production cost and is now back to 2 USDT. Rest of the operation is to assign RCT funds into designated wallets and the liquidity pool and reward the wallet which called Adjuster.

  6. Adjuster spares %10 of the funds, i.e. 100 USDT as reward to the wallet which called itself and spares 900 USDT to RCT.

  7. Adjuster mints another 450 RC, sends 90 RC and 180 USDT to development wallet, 135 RC and 270 USDT to marketing wallet and 225 RC and 450 USDT to the pool; liquidity of the pool increases.

  8. As the final step of the transaction, Adjuster sends 100 USDT as a reward to the wallet which called itself, to compensate the community member who initiated the price adjustment.

Adjuster can be called by anyone and the caller will be rewarded high enough to make it worth paying the gas price to call it. As the reward is a function of the size of the adjustment, the higher the market price is, compared to the production cost, the higher the reward will be. In other words, the further from production cost the market price moves, the higher the incentive will be to bring it back to production cost.

Adjuster should be called only when the market price is higher than the daily production cost, otherwise it will exit after calculating that it doesn’t need to run, and a minimal gas fee corresponding to this calculation will be wasted.

Producer

Rising Coin project will start with zero supply. Only a single coin which we call the Genesis Coin will be minted by the team and assigned to the liquidity pool. After that, the Grace Period will start where the investors will be able to mint their own coins. During the Grace Period, the Production Cost will be fixed at $1.

Producer is the contract with which the investors will mint their own coins. Producer works very similar to Adjuster with the exception of selling to the market and rewarding its caller.

Below is an example Producer operation on RC-USDT pool.

  1. Assume we are in Grace Period and Production Cost is fixed at $1. An investor prefers creating his own coins rather than purchasing them from the market.

  2. Investor invests 1,000 USDT to mint 1,000 RC.

  3. Producer mints 1,000 RC and sends them to the investor’s wallet.

  4. To assign the income into RCT wallets, Producer mints another 1,000 RC, sends 200 RC and 200 USDT to development wallet, 300 RC and 300 USDT to marketing wallet, and adds 500 RC and 500 USDT to the liquidity pool.
← Income and Spending