1,220.32 TENT was sold, so I've burned the rest of 900,000 TENT, by sending 898,779.68 TENT to the burn address 0x000000000000000000000000000000000000dEaD:

https://etherscan.io/tx/0xb9ee06d27f53c0c90d29672e02bfb8660c8b8b350ad30272efc90dd3f473928c

I think it is very possible that the price gets down to like $3k, like mid of last year. Many people might have bought when it was even lower and now panic sell, before it drops more. And potential investors might get scared because of upcoming new regulations, or have already invested their money in all the new ICOs currently running.

It is barely above ICO price at the moment:

https://etherdelta.com/#0x80a7e048f37a50500351c204cb407766fa3bae7f-ETH

But when considering that Ether went down quite a bit since ICO, currently it is below ICO compared to fiat money.

What wallet do you use? For some wallets like MetaMask or MyEtherWallet.com, you have to add the token contract address manually to see it, which is 0xF41e5Fbc2F6Aac200Dd8619E121CE1f05D150077 for CryCash.

You are right, there are tokens with staking, e.g. CLAM. But setup is complicated, you need to run the CLAM client all the time to stake, you need to load gigabytes of blockchain data, which even doesn't work most of the time, so you need an additional bootstrap file, you need to split your CLAMs to multiple accounts for optimal staking etc. (see the CLAM thread for all the problems). TENT token gives you the same, a very good interest rate, but without all the hassle. Just buy it once, sell it with compound interest whenever you want, and get rich

A new logo would be nice as well, would pay additional 1000 TENT for it. The current logo is just a stock image.

The 28 x 28 pixel image is required for adding an icon to etherscan.

This is right. And the number can't be changed after the contract is deployed, so it can't be changed for TENT.


An ERC20 smart contract has no intrinsic value at start, see the definition of ERC20 tokens:

https://theethereum.wiki/w/index.php/ERC20_Token_Standard

There is no way to specify the ETH per TENT, other than with an initial trade offer as I did on EtherDelta. I guess Etherscan uses exchanges and https://coinmarketcap.com to calculate the exchange rates for tokens. I chose 0.0001 ETH because this looks like not too expensive, because then the total supply would be worth only 100 Ether, or about $100k. That's nothing compared to most other tokens, which currently even don't have any functionality, but just promises, like CRPT. My token already works, since last week. No need to pay a development team, offices etc. But of course would be nice, if I could get some money from selling it for my effort so far and there are already 2 other buyers. On the other hand, if it gets popular later, the value might rise more. But if the value doesn't drop by 1/10 per year, you still make profit when selling it.

I hope it will be more, only 3 days left until I burn the rest of the 900k tokens.

I still need a nice icon for the token, to add it to etherscan. I increase my offer: 1000 TENT (the real one on the main net) for an original 28 x 28 pixel PNG.

1) yes, the interest is paid life time. As calculated, it will overflow in about 60 years because of the high 10x increase each year, but until then, there is no problem and you will get more and more tokens each 16 seconds.

2) this depends on gas cost. For the 10 TENT test transfer, you can see it here:

https://etherscan.io/tx/0xb0e1f82b1ba606a4b4c5b0997b1f0cdb35f157529e16c39128db836d68c6ada2

So effectively about $4. But this was the suggested standard gas price, it might have worked with lower fee as well.

3) My goal was 10x interest. If you increase the number, the interest rate gets lower, because it is used in 1/x in the formula I described. If you use 2 million blocks and my JSFiddle script, you can try different numbers and see the compound interest for one year.

Do you know how they hacked you, like did you have malware on your PC? I use Linux as my main system and for all important things, and Windows in a VM. Less probable that I get hacked, because most malware works on Windows or Mac only. Just a tip for everyone who wants to do serious business with money. Probably worth to buy an extra computer for it as well, with no browsing to unknown websites or installing any software from the internet, except the absolute minimum required, as MetaMask. I think MetaMask itself is safe, if your computer is clean, I didn't get hacked so far and I'm using it, too.

As for getting your tokens back: Maybe ask Vitalik and he will do another Ethereum hard fork Sorry, couldn't resist.

In MetaMask you have to click "add token". It is all described here:

https://medium.com/@crypterium_io/crypterium-manual-how-to-use-use-tokens-in-wallet-42d7f5c1d9f3

I created the same contract on the Ropsten Testnet, I only changed the ticker symbol to TENTTest and added Test to the name and class name, so that it doesn't get confused with the main net token (I don't think I can use the exact same contract address from the mainnet on the testnet as well).

In MetaMask or MyEtherWallet, choose the Ropsten Testnet and add the token with these parameters:

Token Contract Address: 0x58e45f485743a7c792daeba93456eb9ba0f28cd2
Token Symbol: TENTTest
Decimals: 10

Here you can see the verified source code, same as the original, except for the name changes:

https://ropsten.etherscan.io/address/0x58e45f485743a7c792daeba93456eb9ba0f28cd2#code

Here you can get free ether for the Ropsten testnet, so that you can test transferring TENTTest tokens to other addresses, which costs ether gas fee:

http://faucet.ropsten.be:3001

PM or reply here with your Ropsten testnet ether address, if you want some TENTTest tokens on the testnet for free to play with it, and to verify if it works as I described it, if you can transfer it, if the interest changes are displayed in your wallet etc., and I'll send you 1000 tokens.

The 0.000115 % is a result of my times 10 requirement each 2 million blocks. The formula for compound interest is (1+p%) ^ periods. If I want to have times 10, the formula looks like this: x^n=10. You can solve this by calculating x=10^(1/n) (or the n-th root of 10), which results in x = 1.00000115129 for n = 2000000. The percentage of this factor is (1 - x * 100) = 0.00000115129 * 100 = 0.000115129. I omitted the last digits.

p = 8 is the precision. For details see the article from where I got the function to calculate the exponentiation:

https://ethereum.stackexchange.com/questions/10425/is-there-any-efficient-way-to-compute-the-exponentiation-of-a-fraction-and-an-in

The problem with Solidity is, that you don't have float values and can't just write Math.pow(x, y), as you could do in JavaScript. The formula on stackexchange uses binomial expansion, which allows to calculate the exponentiation with very few steps with good approximation. The number p specifies the number of steps. Higher number of steps result in higher precision, but higher gas cost as well. You can find the mathematical background about binomial expansion here:

https://en.wikipedia.org/wiki/Binomial_theorem

Because of the required form "k * (1+1/q) ^ N" of the formula, I have to convert the 0.000115 % to q, so that 1/q is equal to 0.000115 %. This is the reason for the number 867598. If you calculate 1 / 867598, you get 0.0000011526. This is slightly different from the mathematically result, because I optimized q by hand so that the fracExp function nearly exactly results in times 10 for 2 million blocks (= about one year), my main goal.

I hacked a quick JSFiddle script for you to play with the numbers, and to see what effect the precision p has for the result:

https://jsfiddle.net/u5zgqqn3/embedded/result/

You can see the JavaScript source code here:

https://jsfiddle.net/u5zgqqn3/

It uses the BigNumber library to emulate the Solidity smart contract function fracExp.

Yes, after you transfer the 50 TENTs, you will get interest for the remaining 161.7 TENTs for each new block. The person who receives the 50 TENTs gets also interest for now his 50 TENTs every new block (= every 16 seconds). The concept is really simple compared to bigger periods like months or years, as you may know from banks

In the code it is a bit more difficult to see:

https://etherscan.io/address/0xefd57b75cad5ac36ba102a88e34374a7bb68acf3#code

The reason is, that I can't add the interest each block, because this would cost way too much gas (= ether fee) and rounding errors would accumulate for small amounts over time. Instead I use lazy evaluation.

The important function here is updateBalance, starting from line 99. This records the start block for an address, if there is not already a start block, and then calculates the interest since the last start block and the current block. This interest is then added to the balance for this address and to the total supply. Whenever a transfer function is called (either "transfer" from line 115, or transferFrom from line 136), first the two involved balances are updated, so that the interest is actually paid for the last blocks. Then the transfer itself happens and because the startBlock map is updated with the current block as well, for the next transfer the next interest can be calculated.

To display the right amount all the time in web wallets etc., the "balanceOf" function uses the same compoundInterest function to calculate the current balance that will be used for the next transfer, but without actually changing the last saved balance from the last transfer call.

So the effect of this is that it looks like you always get your interest added for each block to your balance. But the required optimizations for low gas cost makes this a bit difficult to follow, unless you are a good Solidity programmer.

Looks like it is falling like a rock, $8932 now. So much for all the postings about "it is going to go up"

BTW, for an exact calculation you can use the contract functions:

https://etherscan.io/token/0xefd57b75cad5ac36ba102a88e34374a7bb68acf3?a=0x144e9bbf3dbc6ec9d3a84844d54416e80ac6fb7c#readContract

and click Query on the "facExp" function. The parameters:

k=TENT*10000000000, so e.g. 1000000000000 for this example
q=867598 (always the same value, this is the exponent, expressed as an inverse value)
n=number of blocks, so 500000 for this example
p=8 (always the same value, this is the calculation precision)

The result is 1779448097771. This is just the interest, in smallest TENT units. So it is 177.94. Add this to 100 and you get 277.94, even more than calculated. Try it with 2 million blocks, and you get 1000 for the interest, to which 100 will be added. So I guess I should have named it "Eleven Times"

It even works for very small values. For example if you have just 10 TENT units, that's 0.000000001 TENT, you still get 0.0000000107 TENT at the end of the year, because the calculation is done with the number of blocks as an exponent parameter, not individually by adding the individual interests. And of course it works for 10k TENT or more, too.

And this is good, because if not many people buy it and I burn most of the 90% of the supply as I will do as promised, I can still use my 10% and try to list it at bigger and more classical exchanges.

Nice, thanks!

I think exchanges like etherdelta are the future, because it is all smart contract based on the Ethereum network, so in theory more safe than conventional exchanges. But I will ask other exchanges as well.


Each block on the Ethereum network (so about each 16 seconds), 0.000115 % will get added. See this wallet, to which I transferred 10 TENT yesterday:

https://etherscan.io/token/0xefd57b75cad5ac36ba102a88e34374a7bb68acf3?a=0x144e9bbf3dbc6ec9d3a84844d54416e80ac6fb7c

Do a reload each 16 seconds, and you will see that it increases. Until the end of the year it has increased 2 million times, which is 10x (=1.00000115 ^ 2,000,000). But you can always sell and transfer it to another wallet earlier, with all the compound interest that it has so far. Compared to classical bank account, think of it as an interest period of 16 seconds instead of 1 year.

For your example, if you buy 100 tokens today, you will have about 1.00000115 ^ 500,000 * 100 TENTs = 2.117 * 100 TENTs = 211.7 TENT after 3 months in your balance. If you then sell 50 TENTs, the recipient will have 50 TENTs and you will have 161.7 TENTs.

Currently I own nearly all tokens. 90% are offered for sale on EtherDelta (you can buy a fraction of the offered tokens as well)

https://etherdelta.com/#0xefd57b75cad5ac36ba102a88e34374a7bb68acf3-ETH

The sale order expires in 7 days. I will then burn all unsold tokens of these 90%.


Well, that's strange, because technically CLAM and WAVES are then security, and both are listed at Bittrex. Maybe there is a limit? The stake profit is not very high, compared to the 10x increase per year of my token.

So far I didn't contact any exchange, but would be nice if it gets listed on a bigger exchange than EtherDelta. But I guess they wouldn't be interested, if nearly nobody except me has the token.

No, the interest is paid automatically by the contract code. Tokens are generated virtually each block, so total available supply after one year is about 10 million tokens, minus the burnt tokens, distributed over all balances.


That's always the chicken-and-egg problem: If nobody buys the token initially, then it has no value. But if people think it might be useful to have a token with built-in interest, then it might get some value.


Thanks, that's interesting, I didn't know the difference between utility and security. But why do exchanges then list coins like CLAM, which is listed on Poloniex and Bittrex? It has a built-in staking mechanism, similar to interest: The more CLAMs you have, the more CLAMs you can get by staking them (proof-of-stake instead of proof-of-work). E.g. WAVES has the same PoS concept, so kind of interest, and it is listed at Bittrex.

Yes, the total value will decrease, but if you hold the token, you will get as much interest as the value decreases, assuming equal supply and demand. But I hope demand will get higher with time, because people might see that price drops and that it is a good time to buy some tokens. It works for other tokens like CLAM with staking, but with less inflation. It is a bit of an experiment, if this high inflation is good for a coin, but your personal balance will always increase as much as the coin inflates.

And right, I couldn't be bothered to implement the burning in the contract code, I will burn it manually. You can trust me, see my trust ratings. It would be bad for the token and bad for me anyway if I wouldn't fulfill the promise. I will post the burn transaction at the end, sending it to some a burn address like 0x000000000000000000000000000000000000dEaD.