SEND (SDT)
A major problem in the crypto currency industry is high volatility of value. The fluctuations in price constitute a great concern in the industry. It is in fact one of the key areas that is setting crypto currency back towards being used especially as a store of value. To this end, SDT has come as huge relief for the crypto industry. Send (SDT) is a new token designed to address the three principle challenges facing crypto currencies today: volatility, speculation, and lack of user-friendliness. The SDT token addresses these challenges via a price consensus mechanism that maintains a stable price as demand and transaction volumes increase within the Send Consensus Network. The aim of the project is for the SDT token to become the unit of account of the future, serving communities as a safe medium to store value and exchange currencies. SDT can be used by individuals, institutions, and apps seeking to store, transfer or exchange any form of value securely and without volatility.
High volatility: a view on the coinmarketcap reveals the thousands of dollars’ worth of transaction takes place per day (24 hours). It also goes to show how people prefer freedom of trading in crypto currency as compared to fiat currency. However, price volatility caused by speculation has become one of the barriers preventing mainstream adoption of blockchain technologies. When compared to fiat currencies, the volatility in crypto currency has created a state of uncertainty to adopt it as a store of value.
High speculation: The decentralized infrastructure of crypto currencies results in pricing that is dependent on market forces and increases vulnerability from speculation by individuals who aim to manipulate the market and currency holders’ emotional states through news releases and market manipulation. The value of some crypto currencies can rise as high as 5% to 30% or more within 24hours. News releases can lead to sudden rise in token/coin.
Lack of user-friendliness: When compared to fiat currency, crypto currency requires certain basic knowledge of smart phone or computer while fiat does not require the use of gadget at least for simple buying or selling. Some level of technical knowledge is required. This makes it difficult for the non –technical community to be carried along. Existing systems of wallets, marketplaces and apps are very complicated to use which limits more universal adoption. Despite a growing number of software and hardware applications, most users are considered early adopters of the crypto currency economy.
SEND shall adopt some steps to realize the goal of price stability. SEND is a digital asset capable of offering a price consensus. The aim is to form the consensus with a set of people and organizations that recognize the reference price in exchange for a reward which leads to price stabilization.
Publicly available information on the network’s transactional evolution will allow the community to quickly find and meet liquidity needs and the demand for currencies, connect remittance brokers, integrate financial systems, and offer new services on the ecosystem for this digital asset. As the availability, liquidity, and services around the digital asset grow, the transactional volume will increase, causing the value increase of this digital asset to be effectively sustained by the community around the Consensus Network.
A number of services will become the beneficiary of a stable and growing digital trading currency. Services such as mobile wallets, remittance services, currency exchanges, markets, payment cards, etc. will obviously benefit from the services.
SEND as an asset: SDT is based on the ethereum platform. The platform is tied to the Consensus Network which comprises a network of people, organizations, developers, and applications willing to use STD as a digital asset for goods and services. The purpose of the consensus network is to establish a new liquidity mechanism that will allow gradual growth of the crypto currency without being influenced by speculative practices.
Transaction volume: Incremental growth in transaction volume usually leads to price growth of the same scale - a strong correlation between price and transaction. Because of this high correlation between trading volume and Bitcoin price, the transaction volume of the network is used as one of the main factors to determine SEND price reference. The higher the network’s liquidity, the easier it will be to exchange the currency for another asset or currency.
Circulating supply is another factor considered. The measure of liquidity on a particular asset and the market capitalization can be affected by the number of coins in circulation. Based on the network’s liquidity indicators, SEND network will compute prices weekly.
The Digital Token (SDT): The digital asset, send token (SDT) is configured to be a stable and dynamic price consensus generated from a liquidity discovery process. Basically, current digital assets are governed by floating prices defined by unregulated markets that are very susceptible to speculation, demand manipulation, and high volatility, SDT is tied to a price consensus mechanism that defines the representative value of this digital asset within the Send Consensus Period. The Send token will implement special features that will enable a fully transparent transactional ecosystem. SDT implements ERC20 standard and can be burned by token holders.
Escrow transaction shall be implemented. This will allow third party applications to build safe transactional applications that protect user’s fund. Users lock certain amount of tokens in escrow transaction contracts for a particular transaction in order to protect both parties from fraud.
Vesting mechanism: Token supply is molded through a vesting model in our system where total token supply will be archived after seven years. This implies that there is a limit to how many tokens a wallet can retrieve from the vesting contract over time. If an address gets ten SDT tokens vested to ten months, this address will be able to retrieve one token after first month, five tokens after five months and ten tokens after ten months.
Seven hundred million SDT tokens shall be the maximum supply. The actual coin supply once the token is circulating will depend on the token distribution. The tokens that were not sold from the Token Distribution will be burned. In order words, the actual token supply will remain unknown until the Token Distribution comes to an end, with seven hundred tokens being the maximum.
Valuation method for send token: Stable price is achieved based on Send Consensus Network mechanism of transaction growth and its liquidity indicators. The send consensus network is composed of recognized market places, associated financial systems, and applications that recognize the reference price as a minimum SDT trading price. Seven calendar days is conditioned for the price for each consensus period, commencing each week on Monday at 00:00 Eastern time and ending on 23:59 Eastern time. Members of the send consensus network receive tokens from a pool of funds available for third party participants.
Logarithmic function and the network’s liquidity measure shall be the bases of the computations for the consensus price. A constant based our target market capitalization was computed in order to regulate the price change.
Community Power: Community participation is very important to the success of the send project. The community input to is a key factor for the SDT tokens price increase, recognition and acceptance as an exchange instrument. New individuals and organizations are expected to adopt the SDT token and join the send consensus network, providing new services to the community and creating a more solid foundation to determine the SDT reference price.
The requirements of the community shall be served by the consensus network integrated by the liquidity providers through the trusted exchanges and third-party applications. In order to become part of the Send Consensus Network, an organization has to be set the reference price as a minimum price for its operations in USD. A bigger Send consensus Network means greater support to SDT’s value model and will act as a regulator agent for the whole ecosystem.
Everyone will know how healthy the price of a specific transaction is with respect to the weekly consensus price. This allows users to prepare their strategies instead of getting surprised by sudden changes.
WeSend will be the first member of the Send Consensus Network. WeSend Marketplace will use SDT as an exchange instrument to allow faster, safer capital movement between fiat and digital currencies, irrespective of where you are located or financial platform. The marketplace will comprise: a user-friendly platform built for the masses, a distributed identity verification system, and escrow protection.
The aim of the SDT project is to generate stability, liquidity, and ease of exchange for the mass public during each consensus period. The platform is intended to convert a peer-to-peer digital asset into a predictable currency of increasing value with low volatility risks. Serving the purpose of digital currency as well as an exchange instrument with value, it will accelerate efficient money transfers, currency exchange, savings, and payments.
Send accepted as money at the last stage: SDT will be a massive, globally accepted currency (Money) with low speculation and a solid price foundation, evolving into money when three characteristics are met:
• Serve as medium of exchange
• Unit of account
• Store of value
SDT DETAILED ROADMAP
Q4 2017: INITIAL INVESTMENT ROUND
Q4 2017: TOKEN DEVELOPMENT
Q2 2018: TOKEN LAUNCH (SEND API)
Q3 2018: CONSENSUS NETWORK LAUNCH
Q3 2018: INITIAL PRICE FORMATION (SEND WALLET)
2019: SEND PROTOCOL (BLOCKCHAIN)
2019: SEND WALLET 2.0
2019: COIN MIGRATION
SDT ROADMAP IS INNOVATIVE WITH GREAT FUTURE PROSPECTS.
TOKEN DISTRIBUTION TERMS
TOTAL TOKEN SUPPLY: 700,000,000 SDT
PUBLIC DISTRIBUTION CAP: 231, 000,000 SDT
TOKEN ALLOCATION:
• TRANSACTION COST: 1%
• TEAM AND ADVISORS: 7%
• CORPORATION: 24%
• FOUNDATON: 25%
• CROWDSALE: 33%
WEBSITE: https://www.sendprotocol.com/
TELEGRAM: https://t.me/sendsdt.
TWITTER: https://twitter.com/sendprotocol
AUTHOR’S PROFILE: https://bitcointalk.org/index.php?action=profile;u=1717893