[Announcement] æternal ∞ The 50% Experiment 💎 ICO Begins This Sunday » September 17 2017 » 18:00 UTC

graed.github.io5y ago
Overview At the core æternal is an open-source digital currency shaped and enhanced by two powerful and highly complimentary concepts.

It resides on the Ethereum platform, which is a technological foundation enabling the creation of new and inventive apps which are normally extremely challenging or impossible to actualize.

Thanks to the vital features provided by this platform, the æternal program cannot be modified, paused, stopped, manipulated or interfered with by anyone (including its creators) once it has been deployed to the Ethereum network. The rules determining the currency of æternal are immutable.

This takes us as close as we can get to a truly ageless, fair and honest economic game. æternal is, in our own opinion, one of the most potent and exciting applications realized to date.

Core details:

æternal is an ERC20-Basic token; which is simply the standard ERC20 interface but with allowances disabled. This basic interface simplifies the code and thus the safety of æternal. A smart contract on the decentralized Ethereum platform is, as stated on Ethereum.org: "an application that runs exactly as programmed without any possibility of downtime, censorship, fraud or third party interference."

Experiment? The æternal app itself is not experimental. It consists of a short, simple and easily comprehensible codebase built upon the well-established OpenZeppelin framework.

The "50% experiment" is the unique game which æternal generates.

This game is purely the result of a simple and fun solution discovered by the need to deal with certain mathematical challenges provided by the inherent computational resource restrictions within a decentralized program.

The æternal experiment/game begins at the moment when the ICO (Initial Coin Offering) activates.

The æb

When you get AEL (the æternal currency) you automatically participate in an eternally unfolding game between two halves.

The two halves are divided only by the "average AEL balance". The upper half is the "fortunate half" and the lower half is the "unfortunate half".

We name the "average AEL balance" the "æb" which fits it nicely since you could say that it ebbs and flows, up and down along the aggregate stream of the currency.

The æb is a fundamental element in the æternal system. You always influence the æb with your AEL balance.

æb = (Total AEL Supply) / (Number of Addresses with AEL)

Example: If the æb value is 900, then you can increase the æb value by having 901 AEL (or more) in your Ethereum address. A balance of 901 AEL would increase that æb value by only a little, and a balance of 10,000 AEL would increase the æb by more. If the æb is 900 and your balance is also 900 AEL, then nothing would happen to the æb. But your address would still be in the fortunate half. It is only when your address balance is lower than the æb that you are in the unfortunate half. You can also decrease the æb if you want to. You could do this by spreading 10,000 AEL evenly across 10,000 Ethereum addresses so that you have just 1 AEL in each of your many addresses. Those 10,000 tiny balances could cause the æb to decrease by a lot - but you have also now placed your 10,000 AEL in the unfortunate half of the æb. Uh-oh!

In the game of æternal, the addresses in the unfortunate half gain nothing, and the addresses in the fortunate half gain all AEL from the network portions.

Fortunately you always decide which half you are in, and in which direction you want to influence the æb. You literally just have to be "average or above" in order to earn AEL from the flow of network portions. Easy!(?)

Nobody knows exactly how the game of æternal will unfold; which is what makes it an exciting experiment. But whatever happens, you can trust in this solid old advice:

"The early (and average or above) bird catches the (grandest eternal stream of) worm (network portions)."

The 2% Network Portion

The 2% network portion together with the æb shapes the flow of AEL in a significantly sustainable manner.

Example: If you participate in the æternal ICO with 1 ETH (Ether, the Ethereum currency) while the ICO rate is 1,000, then you receive 1,000 AEL in return into your Ethereum address. But behind the scenes 1,020 AEL is created in total. The 20 AEL (2% of 1,000 AEL) are distributed to only the addresses in the fortunate half of the dividing æb. And if you are the first ICO participant, then you just receive all of the 1,020 AEL. More details like this are presented in the Design section. Network portions are also distributed from all AEL transfers. Every single one. So if a sender wants to give 10 AEL to their friend, then the sender needs a balance of minimum 10.2 AEL. When they send 10 AEL to their friend, they additionally distribute 0.2 AEL (2% of 10 AEL), from their balance, to the addresses in the fortunate half. Network portions are distributed proportionally. If a network portion of 10 AEL is distributed to e.g. two addresses (Alice and Bob) - where Alice's balance is 900 AEL, and Bob's balance is 100 AEL - then Alice receives 9 AEL from the network portion, and Bob receives 1 AEL.

This dynamic generates an unrivaled composition of motivational forces, such as causing it to be extraordinarily rewarding to hold an above average amount of AEL for a long period of time. Selling AEL is also less rewarding than selling a normal currency because of the network portions - but the fortunate 50% of addresses are naturally very happy when AEL is sold as it provides them sweet gains.

Another fruitful effect is that app creators, services or vendors, when they wish to earn AEL from their customers, are compelled to provide extra value for their (very special) AEL customers - or else it is simply more profitable for the customer to keep the AEL and instead spend another normal currency (that is if the service accepts any other currency than AEL).

Congratulations! 🎉 You now have an overview of the simple and powerful game of æternal. Reward yourself with some AEL. And remember to always keep your belly button above the æb!