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 income generated by first item, calculates the matching amount of RC needed, mints them and adds RC and ETH to the liquidity pool on Uniswap.
Mints reward coins and sends to the wallet address who called it.
Example Adjuster operation:
At this point the market price is fixed to correct production cost. Rest of the operation is to allocate 2 ETH in RCT. Assume we are in the early phases of the project, so we are allocating %80 of income into RC-ETH pool.
Please note that the amounts and percentages in this example may change with time.
Adjuster can be called by anyone and the caller is rewarded high enough to make it worth to pay the gas price to call it.
|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 the gas fee corresponding to this calculation will be spent wastefully.|
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.