https://www.facebook.com/covalcov/Micheal Sullivan
Monday June 12th 6:57am
"This I thought was worth sharing. It is part of a much larger doc."
An example flow of using all four of these services could be expressed like this:
- User registers a COVAL ZERO name (which is a crypto asset) such as ZERO.SULL and issues 1000 ZERO.SULL tokens which may allow for access to a protected page on the ZERO.SULL ZeroNet site or a download link to a media file.
- User owns some COVAL VERB tokens from a Partner’s system.
- User owns 1 Rare Pepe blockchain digital trading card created by COVAL (we are doing this as part of ₡OVAL burn efforts).
- User create a COVAL PACK named PACK.MYCARDS containing 1 ZERO.SULL token, 20 various COVAL VERBS, 1 Rare Pepe (FRIEDPEPE) and some other assets that they own which are not associated with COVAL such as some Spells of Genesis game cards.
- User chooses to generate a COVAL PRISM named PRISM.MYCARDS (Shapeshift Prism Portfolio) based on the assets in the COVAL PACK and uses the performance of the PRISM asset portfolio to set a dynamic price on the COVAL PACK (PRISM value + amount of tokens per asset in the PACK).
- User publishes the COVAL PACK on the ZERO.SULL site so other people can see the contents of the PACK and have the option to buy it using a COVAL embedded widget or link to a dedicated payment page.
Behind the scenes, COVAL Sidechains are used along with other shared core components that are used by all of these services.
As you can see, though each service is different, they all can be used together in logical ways. Each of these services begins with a name registration for a Subasset (A new Counterparty feature). ZERO.SULL is a subasset of the ZERO asset which COVAL owns. PACK.MYCARDS is a subasset of the PACK asset which COVAL owns. PRISM.MYCARDS is a subasset of the PRISM asset which COVAL owns. And all the VERB tokens are subassets of the VERB asset which COVAL owns. Each of these services therefore allows the user to issue tokens for each name they create for every “object” which can be used in creative ways. I mentioned one example above where the user issued tokens of the COVAL ZERO name.
Consider the following additional examples:
- User issues tokens of their COVAL PRISM (PRISM.MYCARDS) and sells these tokens to speculators who want a share of any potential profits from the Prism Portfolio. If the Prism performs well and is closed, The user gets a profit in ether and that profit is split with anyone who purchased PRISM.MYCARDS tokens.
- User issues tokens of their COVAL PACK (PACK.MYCARDS) and auctions these tokens and the winner (the person who purchases the most tokens) gets to own the PACK.MYCARDS.
- User issues 1 token of their COVAL PACK and sets a price for the token (separate from the PACK price). If the buyer of the PACK also buys the token, they can unlock an additional hidden card or get a discount on a different PACK by the seller or some other offer that requires this token in order to redeem the offer.
These examples illustrate the creative and flexible features that tokens can provide and how the concept of tokens can have presence inside and outside of digital value objects and further demonstrates the notion of moveable value.
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