Ethereum
$205.46 -0.48%
ETH · 57w

Details on the DataBrokerDAO Early Token Sale & Smart Contract

The inner workings of the Databroker DAO DATA token and Early Token Sale contract

In this blog post, we give a technical overview of the inner workings of the DATA token and the Early Token Sale contract.

1. The DATA token is an EIP/ERC20 compliant MiniMe token

The DATA token is an EIP/ERC20 MiniMe Token, based on the work of the Giveth team. It is ERC20 compliant and adds two useful features.

First, it allows for the creation of spin off tokens in the future that can have custom logic and allows for future upgrades of the token itself. For example, the creation of reputation tokens to be awarded based on DATA token holdings.

The second feature is that it keeps a full record of balances at each block. The MiniMe token is not new, and it has proven its value in projects like Aragon, Giveth, Swarm City, Status IM and Mothership. Using a token that has been audited and tested in all these projects makes for a secure and proven base for the DATA token.

2. The DATA token is controlled by the Early Token Sale contract

The controller of the token is the party that can create new tokens. The DATA token supply is not pre-mined. The contract only generates the tokens that are sold during the sale. During this initial phase, the Early Token Sale contract is the controller of the token. The sale will start on the 18th of September at 5 PM CET and will run for four weeks.

Coded into the sale contract is a maximum of 28.125 ETH collected at a fixed rate of 1200 DATA tokens per ETH. Again using tested techniques, the contract controls for an uneven distribution of tokens during the sale by limiting the gas price to 50 gwei and allows an address to contribute only once per 100 blocks. The gas amount needed to contribute is 300.000, the amount not used is sent back automatically by the Ethereum blockchain.

3. Security and compliance

We have placed safety as paramount for the token and the sale. By building on the shoulders ...

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