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 sends RC and the paired coin to the liquidity pool on Uniswap.
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 size of the Uniswap 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 to pay 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.|
Marketeer is the smart contract which will manage allocation and spending of RCT funds into marketing activities.
After good trading conditions are met, the funds accumulated in RCT will be spent for marketing of the project. The marketing material and the medium to display them will be supplied by the community. The voting process to pick the right ads for the right medium and the expenditure will be controlled by Marketeer. This way we will make sure that the marketing of the project continues forever, independent from any centralised player, including the project team.
Target of the project is to minimize and eventually remove project team’s intervention at every point of the process. Even the community’s intervention such as voting and submission of new ad and video materials will become optional rather than necessary.
An example might be helpful to imagine the process:
Marketeer smart contract will be deployed as phase 2, after project reaches good trading conditions, i.e. reasonable liquidity on Uniswap.