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