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BSOV’s Rainbow of Decentralized Token Distribution — A deeper look.

BSOV’s Rainbow of Decentralized Token Distribution — A deeper look.

Does BSOV possibly have the most decentralized token distribution in the cryptocurrency universe, I wonder? Most of the tokens are timelocked, unmined or evenly distributed between long term holders.

BSOV (BitcoinSoV) is a PoW-mineable and deflationary-by-design cryptocurrency, which was created by an anonymous founder called “Mundo”, and started with no premine or dev-fees. It is an ERC20+ERC918 Token which is 100% governed and run by its community. BSOV has many similarities with Bitcoin (BTC), but has a unique deflationary aspect, which is that 1% of every on-chain transaction is burnt/destroyed forever. The theory to BSOV’s deflationary mechanism, is that the token holders are incentivized to hold, instead of moving, transacting and/or trading, which rewards long term holders by making their proportion higher in relation to the others — Quite the opposite to the inflation we experience every day in fiat-currencies all over the world. The community has made a website at https://bsov.io for more information.

First a look at all the BSOV which are already mined.

Since the BSOV smart-contract was deployed by Mundo at the 17th of June, 2019, nearly 3.9 million BSOV have been Proof-of-Work (PoW) mined by the community.

Timelock contract — 28% (1,087,699 BSOV)

By far the most prestigious achievement of the BSOV Community is the SovCube Timelock contract, where voluntary community members/token holders have timelocked over a quarter of circulating supply. As of now will take a minimum of 9 years to fully empty, since each address who timelocked, can only withdraw a maximum of 1000 BSOV per 7 days. Now nearly 1.1 million BSOV are timelocked in total.

Burn Address — 3.6% (138,548 BSOV)

The deflationary mechanism of BSOV works by utilizing Ethereum’s burn address. It looks like this: 0x0000000000000000000000000000000000000000. It is an address which provably is no...

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