OFFS - Altcoin Offset Credits
Recycling Altcoins, Reducing Altcoin Emissions and Pollution
The Only BARR-Certified Standard of Altcoin Offsets
Launch date November 1, 2015http://barr.meNXT Asset I.D. 11439988768245232566 OFFS Altcoin Offset Credits is a new asset on the NXT Asset Exchange.
OFFS are only earned via Proof-of-Burn in exchange for burning BARR (Burning Altcoins for Redemption and Reduction).
Burning BARR by sending it back to the Burn Fund allows that BARR to be recycled and reused to take even more altcoins out of circulation; this contribution to the ongoing efforts of BARR is rewarded with OFFS.
The goal of OFFS is to establish a voluntary standard of Altcoin Emissions Reduction which can be adopted universally by altcoin companies, projects, and developers.
The world of cryptocurrency now exists in an overpopulated and polluted ecosystem - there are too many coins, too much garbage, and too much waste.
Anyone who is contributing to the problem by releasing their own coins, or by profiting from the sale of these polluting coins, can offset their own pollution with Altcoin Offset Credits.
Any project can work to remain Altcoin Emission Neutral by earning Altcoin Offset Credits, which allows them to help reduce the number of altcoins in existence.
Groups, companies, and individual developers can proudly display their OFFS Altcoin Offset Rating to show a good faith effort to offset the pollution of altcoins, and to balance their own coin emissions by reducing and recycling other coins.
OFFS can be used as a Cap-and-Trade standard for the industry, allowing limits to be set and negotiated for any activity that stresses the market and the cryptocurrency ecosystem. If you are over your agreed-upon limit but need to extend it, such as a limit for coin emission or pollution, you will be able to trade or buy OFFS from someone else who has earned them and hasn't used all of theirs.
Or, for long-term purposes and any possible standing agreements that need to be irrevocable, you can burn your OFFS to set a Permanent Offset Rating that can never be reduced.
Any Altcoin Offset Rating can be independently verified through a decentralized process, simply by checking the balance of OFFS held in a given NXT account. A rating can be made permanent by sending OFFS to the NXT Genesis Account; these OFFS will effectively be destroyed, and the rating will be held by the owner of the account that sent the transaction. The address of the NXT Genesis Account is NXT-MRCC-2YLS-8M54-3CMAJ
WALLETS
OFFS are sent and received from your NXT wallet – if you’ve never used NXT before, just try it. We think you’ll be impressed.
To download the NXT client, visit http://NXT.org. (The installation is relatively simple, but it takes a while for the blockchain to sync.)
With the NXT client, you can send, receive, and trade, all inside the wallet interface.
That includes NXT, OFFS, BARR, and any other NXT asset as well as any currency on the NXT Monetary System, such as Nautilus.
To use an online wallet, visit https://wallet.MyNXT.info (It’s easy, and you can also buy and sell on the NXT exchange from your online wallet.)
Or to begin trading OFFS instantly, visit https://trade.SecureAE.com and create a username and passphrase. (This is the fastest way to send NXT from an altcoin exchange and buy OFFS)
SPECIFICATIONS
The total maximum supply is set at 10,000,000 OFFS, with 0 OFFS in circulation at launch.
There will be no IPO, no ICO, no Pre-Sale, and no funds set aside for the devs.
The BARR project will earn its own Altcoin Offset Rating by burning personal funds donated by the developers.
OFFS is only distributed to people who burn their own BARR - We distribute it for free, but no one can get it for free.
OFFS will be exchanged for BARR at a set rate during each burn period, and will work in tandem with BARR's burn periods. The first burn period is November 1st through November 30th, during which OFFS will be exchanged 1 for 1 with BARR. The exchange rate will vary for future burn periods.
For more details about burn exchanges, visit the BARR topic at
https://bitcointalk.org/index.php?topic=1219460.0OFFS are made from 100% Recycled Altcoins.
Before you generate one more coin, show the world that you have recycled some first.
