Hello everyone,
Yesterday, the EthPhoenix dApp development team released our whitepaper announcing the introduction of a new coin named
Phoeniχcoin (PHX), which is mined using a - we believe - novel technique which we call `proof-of-volatility'. The coin is currently live and being mined. The webpage is
https://phxcoin.io. Note that you require EPX tokens to participate - please read below the horizontal rule for details!
The abstract follows, along with the SSRN link (
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3140310):
"
This paper introduces the underlying mechanics and interface for PhoeniχCoin (PHX), an Ethereum ERC223-compliant cryptocurrency. The supply of PHX tokens is tied directly to the Ethereum balance of the smart contract underpinning the ‘EthPhoenix’ decentralised application, and mined using a novel, generalisable technique we refer to as proof-of-volatility."
The intention is to use
PhoeniχCoin as a gaming utility token forming the basis of a number of themed dApps which the PHX team is currently working on.
Our flagship is intended to be PyreBirds (
http://pyrebirds.com). It's definitely not a CryptoKitties, we promise!
Your feedback would be invaluable, be it what it may. We would like to list on various DEX's, but should this not turn out to be possible, we have our own hand-rolled exchange contract ready to go. Either way, we are interested in what the wider community thinks of the concepts presented!
Thank you for reading.
Yours,
Norsefire
For additional (but unnecessary) context for the purposes of this thread:
The underlying contract from which this coin is structured is EthPhoenix (EPX), one of the multitude of buy-in-and-hold-for-dividends contracts doing the rounds lately which has
some pyramidal properties but could more accurately be referred to as an emotion-based wealth redistribution game.
Moreover, the EPX contract is also the underlying for a futures contract named PyrMex (
https://pyrmex.com), allowing wagers to be placed on the future Ether balance of the EPX contract with an interim time between end-of-betting and settlement wherein price manipulation is encouraged.
And we're only just getting started!
