Intrepreneur Whitepaper 2.0

intrepreneur (58)in #int • 4 years ago (edited)

INT is a token launched on the Steem-Engine.com smart contract platform & is a consumable in-app token designed to integrate into daily use within the intrepreneur.life website. It's powered by Nitrous and distributed by Scotbot (services offered by steem-engine.com). This website serves as a way to promote entrepreneurial, informative, digitally authored content.

It is important to note that while one can stake & get rewarded in INT via posting on https://intrepreneur.life, many of the website’s key features (eg. delegation) are not yet live, though are carded to be implemented within the new year (2020).

Token Offering

There was an initial airdrop of 300,000 INT for the holders of PAL tokens.
Tokens are available for sale on steem-engine.com.
Tokens are occasionally distributed to participants via community run quests. This was set to be an ongoing occurrence until January 1st 2020, however due to a lack of participation these once weekly quests, were decidedly cut short, with more time having then been allocated to the reforming of our directives & refining our offered services based on the helpful feedback we acquired during our community Q&A's/quests . See here for more info -
https://www.intrepreneur.life/int/@intrepreneur/we-need-your-opinions
Ongoing proof-of-brain distribution powered by Scotbot (a python based voting bot that distributes rewards based on INT stake).

This will NOT be a mined token & there are only 10 Million INT within the total supply.

https://www.intrepreneur.life is a custom website similar to steemit.com where all rewards are displayed in INT.
In order to address spam content & reward abuse on the platform, the Intrepreneur team has created a 100k INT staked '@no-int-4-u' account for downvoting, muting & blacklisting purposes. See more on how this works in our updated Intrepreneur Community Guidelines HERE.

INT is meant to be a multi-functional token with various use cases, such as;

(i) For entry into our Community Writers’ Contests - these will be prize pooled, with winners splitting the sponsored prizes, pooled rewards, as well as the accumulated upvotes for that post.
(ii) For discounts on subscriptions & prices on the Intrepreneur Consumer Market.
(iii) As a trade/barter token between sellers & buyers in the general cryptospace.
(iv) ... whatever new innovations/directives become possible via continued development & future partnerships

The INT token will also be the token that determines stake weight for voters using the proof-of-brain distribution on Intrepreneur.Life.

Initial INT Token Distribution

300,000 INT for founding Team members (moderators, promoters, curators etc.)
300,000 INT in an airdrop to PAL community members
300,000 placed for sale on the Steem-Engine market to be used to power-up the @intrepreneur account with STEEM.
100,000 distributed among early community members & to cover payouts for the first set of quests, sidequests & superquests.

There is also a reserve of 1 million tokens for the official Intrepreneur account for managing the platform as is deemed fit. These tokens may also be sold on the market as needed to assist in funding further development of the website’s offered services should the team deem such action necessary.

Token Launch Pricing

230,000 INT were initially available for sale at 1 STEEMP/INT on Steem-Engine

Team Rewards

300,000 INT was split evenly among the founding group of Intrepreneur Team Members, with members having received 17,650 INT each.

Primary Account

One million INT will be reserved for the Intrepreneur team to utilize for general managerial purposes on the Intreprenrur.life platform. 100,000 of these tokens were staked on the @no-int-4-u account for flagging unrelated content and returning INT to the reward pool. The team reserves the right to sell a portion or all of these funds at a future point should a determined need arise.

Airdrop

Intrepreneur conducted an airdrop of 300,000 INT to a maximum of 16,000 accounts on August 23rd 2019, with team members having conducted additional ‘mini-airdrops’ at their discretion, within our Discord server.

Ongoing Distribution (Faucets)

All financial systems relying on currency requires faucets for the currency as well as sinks. A faucet is how the currency enters the system. A sink is how it is removed from the system. INT's primary inflation will come 90% from Proof-of-Brain voting and content creation. 10% of the inflation will be directed to ongoing moderation and management of the platform and be divided among team members.
Overall Inflation of INT will have an initial target inflation of 10% and decline every year by 1% until it reaches 4% and it will stay at 4% inflation from that point forward.
Overview:

Initial annual inflation 93,026
Distribution: 93026 Tokens annually

Calc. explained-
Initial amount of minted INT = 930,000
STEEM makes 1 block every 3 seconds
20 blocks a minute x 60 minutes an hour x 24 hours a day x 365 days a year = 10,512,000
The INT contract produces 2 tokens every 226 blocks
10512000/226 = 46513.27
Number of blocks that produce tokens (which we know each produce 2 tokens)
=> 46513 x 2 = 93,026

PoMod: 10%
PoB: 90%

PoB - Proof of Brain Rewards, used when voting for author and curation efforts on the platform.
PoMod - Proof of Moderation, is similar to how the Steem blockchain provides 10% of the inflation to witnesses; 10% of annual inflation goes to the Intrepreneur team for administrative tasks such as covering network expenses.

Token Redemption (Sinks)

(i) For entry into our Community Writers’ Contests - these will be prize pooled, with winners splitting the sponsored prizes, pooled rewards, as well as the accumulated upvotes for that post. (Est. Launch Date - First Quarter 2020)
(ii) As a trade token for the Intrepreneur Consumer Market. (Est. Launch Date - 2nd Quarter 2020)
(iii) Advertising within the Intrepreneur Discord & on our websites. (Launch Date - 3rd Quarter 2020)
(iv) As a trade/barter token between sellers & buyers in the general cryptospace.

Until all these services become fully functional, community members are free to engage with the Intrepreneur.life platform and start establishing their professional blog space with informative well written articles. This, in addition to our various Quests, Sidequests & Superquests, can allow for a healthy savings of INT tokens (should members choose to hodl,) and then be utilized once our other services go live in the coming year.

INT Distribution Settings on Intrepreneur.Life

Posts pay out in 7 days, and it only requires 7 days to completely unstake one’s INT.

Scotbot Settings

Here's the list of initial Scotbot settings.

"author_curve_exponent":1.10,
"author_reward_percentage":50.0,
"cashout_window_days":7.0,
"curation_curve_exponent":0.5,
"downvote_power_consumption":200,
"downvote_regeneration_seconds":432000,
"issue_token":true,
"json_metadata_key":"tags",
"json_metadata_value":"int",
"reduction_every_n_block":10512000,
"reduction_percentage":0.5,
"rewards_token":2,
"rewards_token_every_n_block":226,
"token":"INT",
"token_account":"intrepreneur",
"vote_power_consumption":200,
"vote_regeneration_seconds":432000

Disclaimers

The INT token provides no income or profit sharing from any account that Intrepreneur manages.
Intrepreneur is offering the token on an "as is" basis and provides no guarantee that additional work or effort will be made other than supporting the existing community with the existing tools.
While it is possible, especially while testing the accurate price of the INT token that prices may fluctuate in the market, Intrepreneur makes no claim that the token prices will rise in the future beyond the initial launch (or the initial discounts) listed above.
We are not a business, and have no intention of ever becoming one, however this does not account for any possible changes in management or opportunities that may present themselves in the future.

Steem that is raised via the gradual sale of the 230,000 INT on the S.E exchange, will be put into Steem Power on the official @intrepreneur account. The primary use of this Steem Power will be to ensure the long term existence of the network and cover server and administrative costs as they arise.