Hi Folks,
We've got some news and a couple of changes or rather "upgrades" in the gameplan.
Enjoy this raw version Part.1. about:
- The basic problem we try to solve,
- The proposed solution,
- Token development
- Token Distribution.
Let us know your questions and comments
Part 2 will cover:Voting Rules.
Public Prediction
Simulation of Payouts
THE PROBLEM
Public opinion polling is in a crisis due to industry’s outdated methods used since the 1930s. In the last few decades, the percentage at which people participate in opinion polls has been dramatically declining and this negative trend is ongoing. With no innovations, it's only getting harder for researchers to reach out people and predict the public opinion as accurately as it should be.
THE SOLUTION
PR.network (PRN) creates a foundation for a new phenomenon – the Public Polling 2.0 –incentivized real-time polling based on the voting system fueled by Unique Digital Assets – ERC20 Tokens. The objective of Public Reputation Network is to use blockchain to revolutionize the way global communities predict and influence the public opinion using a fun and rewarding social media platform.
Public Reputation Network creates a unique blockchain based alternative to public polls and surveys. At PR.network participants do not reflect personal opinions but predict the collective opinion of the majority of people. The platform provides the general public with an independent and rewarding online review platform and lets the global community to participate in the process of shaping the general opinion about public entities, topics and affairs.
PRN Community members are incentivized to keep their predictions up-to-day every day. Each time a prediction is in line with the actual status, at the end of the day, all relevant members are rewarded from the pool of incorrect predictions. According to user’s desired maximum risk per day: 2% up to 100% of Digital Assets gets locked in the prediction pool for redistribution to winners. The loss can never go beyond limits, but rewards can go beyond or under the limit depending on the size and number of incorrect and correct predictions' value and quantity.
PR.network is currently in Beta. During this phase, only basic functionality is supported and only reputations of public entities can be monitored. Over time number of measured categories will grow and may include: products, services, events, shows, games, films, series, music and much more.
UNIQUE DIGITAL ASSETS (UDAs)
PR.network is fueled by 2 Balanced Binary Tokens: PR+ and PR- the Unique Digital Assets.
PR+ and PR- are digital cryptographic currencies with a capped supply of a total of 100 Million. PR+ and PR- work in synergy to provide security, utility and entertainment through rewards and opportunities to create, hold or exchange Unique Digital Assets (Tokens) that measure the value of public entities and matters.
PR+ TOKEN is an essential asset in terms of usability at PR.network. It executes all requests sent to the network. 100 MLN supply of PR+ is released based on a predefined plan in the Smart Contract. PR+ is utilized as network’s security against spam and Sybil attacks. Users use PR+ to Vote, create PR Cards and PR- Card Tokens. PR+ is based on deflationary supply model in which 100 PR+ is destroyed each time a new PR- Card Tokens is created. Deflationary model ends after PR+ reaches 50 Million Units and no more PR Card tokens can be created.
PR- TOKEN broadcasts real-time capitalization value of all PR Card Tokens created by the community. PR- Card tokens are Unique Digital Assets with a supply of 100 Units per Token. Each PR- Card Tokens measures the total value of each PR Card based on the real-time market capitalization for PR Card Tokens. Every PR Card owner can create unique PR Card Tokens for each PR Cards in the collection. Holders of PR Card’s Tokens can earn up to 100% of security fees paid by the community depending on the percentage of PR Card Tokens they hold. New Ethereum tokens are generated with a click of a button and automatically added to the internal UDA Exchange and to user’s account balances. Creators of Unique Tokens can hold or trade their tokens with other community members. For every new PR- Card Token generated 100 PR+ is destroyed.
TOKEN DEVELOPMENT PLAN
Until final Smart Contracts aren't released PR+ and PR- three tokens play an important role in the process: PRN, PRICO and PRAir: 12 MLN PRN + 44 MLN PRICO and + 44 MLN PRAir = 100 MLN PR+ Token
PRN TOKEN: - 12.000.000 Supply - PRN is used to perform Early Bird ICOs and Airdrops. PRN facilitates the early adopter’s programs, Community bounties and is used for beta testing the incentivized Public Opinion Predictions. As soon as PR+ and PR- tokens are defined and implemented, PRN will be swapped one to one with PR+. PRN is expected to be exchanged at the internal UDA exchange but there is no plan to pursuit PRN to be listed at external exchanges.
PRICO Token - 44.000.000 Supply – PRICO is used for the purposes of ICOs: PRE-ICO and ICOs. PRICO uses smart contract for ICO schedules and pricing. ICO is spread over 12 months. The highest price bonus is gradually decreasing to reach the official price in the last ICO. As soon as the smart contract for +PR and PR- is set up, PRICO Token will be swapped with PR+ one to one. PRICO is planned to be exchanged at the internal UDA exchange only, there is no plan to pursuit PRICO to be listed at external exchanges.
PRAir Token – 44.000.000 Supply is used for the purpose of future Airdrops. PRAir is a token allocated to the founders, the community and developers. Yearly release of the coin is capped to a maximum of 1 Million PR+ per beneficiary. PRAir token will be exchanged with PR+ one to one, but the release of PR+ will be capped by yearly limits. PRAir cannot to be traded at the internal or external exchanges.
TOKEN DISTRIBUTION PLANInitial Coin Offerings (ICO) PLAN:Half of all PR.network Tokens (50.000.000) is distributed through Initial Coin Offerings (ICOs).
6.000.000 of PRN is reserved for Early Birds Supporters and Adopters3.000.000 is reserved to Early Bird Supporters - members who’ve been supporting the development of the platform since the beginning.
3.000.000 is reserved for Early-Bird Investors developers, partners and community members. Only signed up members with a minimum of 20 Balanced Votes can participate.
12.000.000 of PRICO is reserved for the Public PRE-ICOPRICO is planned to be distributed from the 7th till the 31st in December. All Ethereum holders can take part in the PRE-ICO to benefit the highest price bonus in the entire public coin offering period.
32.000.00 of PRICO is reserved for the Official ICOs32MLN of PRICO is distributed every month starting January 7th 2018 through December 31th 2018. The price bonus decreases after every ICO. Unconsumed ICO QTY gets rolled to the next ICO with a lower price bonus. Except the last ICO in December 2018, when 10.000.000 of PR+ is released for offering, monthly only 2.000.000 if released in ICO.
AIRDROP PLANHalf of all PR.network Token (50.000.000) is distributed through long-term Airdrops.6 Million is released through PRN Token and 44 million thought PRAir.
3.000.000 of PRN Token is airdropped to the first 12.000 Early Bird Adopters, out of which 82% is allocated to the first 2000 community members. All Early Bird Adopters are entitled to 20% of the Airdrop after reaching a minimum of 20 Balanced Votes. To receive entire Airdrop 100 Balanced Votes is required.
3.000.000 of PRN is airdropped through the Bounty Programs to the Early Builders: Publishers, Voters, Bounty Experts, Web Designers, Solidity Devs, PHP Symfony devs, JavaScript devs, Copy-Writers, Technical Writers, Bloggers and Translators.
44.000.000 of Airdrop funds are distributed through Token PRAir. PRAir is designed to gradually release PR+ to Founders, Community and Developers. PRAir has a yearly release lock of 1.000.000 PR+ per beneficiary and a maximum of 3.000.000 per year for all three beneficiaries.
Founders Allocation is to help PRN founders to continue building more blockchain based solutions.
Development programs will provide funds to support the development of the final decentralized version of PRN.
Participation programs will support adoption and needs of growing community.
Looks great, nice update.