[ANN]ChronoLogic - Proof-of-Time token on Ethereum

[aikklond]

Time is not a problem. I'll wait. Time is not a problem. I'll wait. Beautiful project experienced staff. I am a very good time 15 days or 150 days.... Beautiful project experienced staff. I think a very good time.

[1715407541]

1715407541

[1715407541]

1715407541

[qiwoman2]

Has the ICO already ended? If it has, it was quick. I saw INVESTFEED ADVERTISING it as I am a member there so maybe that is why the sale went or is going so well? I wanted to buy a few but I  think I am late I guess.

[ChronoLogic]

Has the ICO already ended? If it has, it was quick. I saw INVESTFEED ADVERTISING it as I am a member there so maybe that is why the sale went or is going so well? I wanted to buy a few but I  think I am late I guess.

Yes, the ICO is over, stay tuned for more informations coming soon. 

[Casatokuser]

Congrats to successful ICO.
I am very excited about the applications coming for DAYs in the future!

[drwoo]

Hi Chronologic,

I am only new to this cryptocurrency world and just crawling with this whole Ethereum thing. This [Suspicious link removed] wallet has recently implemented ETHER Beta wallet.

As I am not getting along with this ETH Mist downloaded in my pc, I have the following Question: Will my blockchain wallet ID suffice to register for the ICO?

I have already registered for 28th with an address that I got from the Mist masternode software, but I havent got any balance there as I am not sure how to use it! (not your issue)

Thanks

Your ETH address is all you need to register for the ICO and you don't need a balance on your wallet until the 28th until you make the contribution, so you still have time to figure it out. If I misunderstood your question, you are welcome to join slack and we will try to guide you further.

So how are much are you aiming to raise?

The hardcap is 38383 ETH, but the project has already received enough in pre-sale and pre-contribution funding to be successfully completed.

ChronoLogic, If you had to explain this whole concept to a 10 year old how would you explain it in simple simple terms to someone that young without a ton of crypto knowledge? Very simple in plain english terms.  No fancy crypto terms.  Just wondering as if something can't explain or be understood by a 3rd grader I have never really invested in it.  I want to invest in your ico but I want to see if this can be explained in very very simple terms so a 3rd grader could understand it.  It seems half the grown ups don't understand the entire concept and only a few so please explain in very simple terms from the ico going on down the line.  The concept in simple terms, the reason to invest in the short or long run and reasons to just hold the coin for value.  Say someone just holds the coin for 5 years without doing a thing should he expect a great return on investment?

I will try.

Basically by contributing in the ICO you are able to mint/self-mine new tokens on your ethereum address (this is called a TimeMint) based on the balance and the amount of time you hold it. Similar to how an interest bearing bank account pays out.

Other time based projects will then be able to run on the same system creating more value for DAY tokens.

As for whether one should expect a great return on investment, people at ChronoLogic obviously believe so but the only person who can answer that is you and anyone else who contributed or is planning to contribute.

Very cool, this is extraordinarily good news. Curious whether people will decide to invest during the ICO or just wait until it gets listed on exchanges. Have there been significant discounts during the pre-ico so that those coins might get dumped straight away?

Only the first 33 TimeMints received a discount.

what does that mean in concrete terms? The first 33 TimeMints, is that somehow significant in terms of overall supply or negligible?

Since everyone receives 24 DAY per ETH contributed the overall supply will depend on whether the ETH hardcap is reached, in which case those with the bonus will represent a small portion of the token supply.

The bonus given to the first 33 TimeMints ranges from 1% to 33% so the average is somewhere in the middle, much less than most projects. We will try to release exact numbers as soon as possible.

Since early TimeMints also have a higher minting power we believe it is unlikely they will wish to dump their tokens as soon as it hits the exchanges.

Ok thanks. Could you already come up with more precise numbers?

[radiera]

hey, 13 or 14 sep is token release or who contributed ico can mining it ?

[3x2]

I have some questions:

In bounty Thread over bitcointalk ( https://bitcointalk.org/index.php?topic=2065455.0 ) it says The ChronoLogic bounty will run until September 3rd, 23h59 UTC. The total bounty pool will be 0.8% of the total DAY tokens sold during the ICO.
Signature bounty: Payment: 80% of the total bounty pool.

So, Total DAY tokens reserved for signature bounty is 80% of 0.8% of total Day raised during ICO.

which gives: 0.0064*486693 = 3114.83 DAY tokens

Assuming that total signature stakes will be around 3600 , so each stake equals to : 0.8652 DAY tokens.

so if a member earns 200 stakes , so he will receive *173 DAY* tokens.

which is insane..

equals to 7.2 ETH

So doesnot it seems Chrono will be driven by Bounty Hunters??

*I would like to hear some official comments on this...*

[Mazt rhiezt]

Hi dev,
can you change my rank from member to full member.
I have been promoted since a week ago.please consider my request. thanks.

[ChronoLogic]

I have some questions:

In bounty Thread over bitcointalk ( https://bitcointalk.org/index.php?topic=2065455.0 ) it says The ChronoLogic bounty will run until September 3rd, 23h59 UTC. The total bounty pool will be 0.8% of the total DAY tokens sold during the ICO.
Signature bounty: Payment: 80% of the total bounty pool.

So, Total DAY tokens reserved for signature bounty is 80% of 0.8% of total Day raised during ICO.

which gives: 0.0064*486693 = 3114.83 DAY tokens

Assuming that total signature stakes will be around 3600 , so each stake equals to : 0.8652 DAY tokens.

so if a member earns 200 stakes , so he will receive *173 DAY* tokens.

which is insane..

equals to 7.2 ETH

So doesnot it seems Chrono will be driven by Bounty Hunters??

*I would like to hear some official comments on this...*

I am not sure about your question, bounty rules are bounty rules. Some campaigns pay decently some don't, some get high numbers of participants, some don't.
Obviously this one seems rewarding and wasn't a big success in terms of  participants numbers.

[chichidori]

I have some questions:

In bounty Thread over bitcointalk ( https://bitcointalk.org/index.php?topic=2065455.0 ) it says The ChronoLogic bounty will run until September 3rd, 23h59 UTC. The total bounty pool will be 0.8% of the total DAY tokens sold during the ICO.
Signature bounty: Payment: 80% of the total bounty pool.

So, Total DAY tokens reserved for signature bounty is 80% of 0.8% of total Day raised during ICO.

which gives: 0.0064*486693 = 3114.83 DAY tokens

Assuming that total signature stakes will be around 3600 , so each stake equals to : 0.8652 DAY tokens.

so if a member earns 200 stakes , so he will receive *173 DAY* tokens.

which is insane..

equals to 7.2 ETH

So doesnot it seems Chrono will be driven by Bounty Hunters??

*I would like to hear some official comments on this...*

I am not sure about your question, bounty rules are bounty rules. Some campaigns pay decently some don't, some get high numbers of participants, some don't.
Obviously this one seems rewarding and wasn't a big success in terms of  participants numbers.

What it means is few participants plus a very successful ICO is equal to big rewards, you should be thankful if your calculation is correct that means your going to receive 7.2 ETH worth of DAY token.

[ChronoLogic]

A little update regarding the upcoming distribution of TimeMints / DAY tokens :

https://blog.chronologic.network/timemint-assignments-615f859bdc12

[thehun]

A little update regarding the upcoming distribution of TimeMints / DAY tokens :

https://blog.chronologic.network/timemint-assignments-615f859bdc12

I have been checking the list and there is something I don't understand: you said that during the first 6 hours only contributions above 5 ETH would be accepted. I sent my 5 ETH in this time period but there are many others who sent less and got timemints with a much lower number. How can this be?

[thehun]

A little update regarding the upcoming distribution of TimeMints / DAY tokens :

https://blog.chronologic.network/timemint-assignments-615f859bdc12

I have been checking the list and there is something I don't understand: you said that during the first 6 hours only contributions above 5 ETH would be accepted. I sent my 5 ETH in this time period but there are many others who sent less and got timemints with a much lower number. How can this be?

Ok I didn't read this part:

"Anyone that contributed less than 5 ETH during the first 6 hours has been allocated a TimeMint but also with worse ChronoPower."

So I understand the ChronoPower is not determined by the number of the mint?

[hoolio]

A little update regarding the upcoming distribution of TimeMints / DAY tokens :

https://blog.chronologic.network/timemint-assignments-615f859bdc12

How to determine the Chrono Power?

[ChronoLogic]

A little update regarding the upcoming distribution of TimeMints / DAY tokens :

https://blog.chronologic.network/timemint-assignments-615f859bdc12

How to determine the Chrono Power?

The ChronoPower is determined based on your TimeMint number, which goes from 1 to 3333, where TimeMint number 1 gets 1% ChronoPower, while TimeMint number 3333 gets 0.50% ChronoPower.

You'll be able to check it out easily soon.

Below is the actual formula, to determine ChronoPower :

[ChronoLogic]

https://www.timemints.com/

An useful tool to check out TimeMints contribution / ChronoPower based on your Ethereum address.

[Rijakolus]

https://www.timemints.com/

An useful tool to check out TimeMints contribution / ChronoPower based on your Ethereum address.

Ok cool... so there will be so little DAYS at start... hope people wont dump big time so that the price would go lower then ICO price...

[MoneyJ]

It is good that I have my timemint reserved and verified . Now it will only let time tell if DAY token is as premium the moment the real applications for it will start to roll out. Two examples were cited as use cases for DAY tokens which I perceived to be important and optimistic.

[Obi-Wan Coinob1]

I have a couple of questions for the ChronoLogic team. Maybe people have asked or are asking this also on Slack, but since i don't like Slack i hope you forgive me in the case of duplication

* How does the recent (immediately effective) ban on ICOs by Chinese authorities affect Chronologic?
I know the tokensale/ico was finished before this news hit, but your headquarters is in Hong Kong (incorporated there?) which is considered a special administrative region of China. Did you get any inquiries by officials into how you handled your ICO and if it was compliant with local laws? And if not, is there a contingency plan in case you still get in trouble retroactively?
The thing is: i fear that the DAY token could be considered a security because it does not have utility yet (when it's traded on exchange(s)) until you build a time based instrument that uses the token somehow. Or do you look at the TimeMint as that first utility in the ecosystem?

From an investor's perspective;
* Why did you choose for an emission/minting model for the tokens that is logarithmic and not linear?
What i mean is: there might be a heavy incentive for the ico contributors to sell off their DAY tokens (they initially get based on their contributed ETH) on the first exchange (probably etherdelta i assume) that lists it. This to me is likely to happen because:
a) from the seller's perspective: there is no perceived immediate utilitarian value attached to a token because, as i understand it and correct me if i'm wrong, selling a token you receive initially (before the TimeMint starts mining) doesn't influence the TimeMint's original ETH based minting capacity.
b) from the buyer's perspective: the most DAY token 'inflation' will happen in the first ChronoEra (first 88 days), so the knowledgeable potential buyers know this and they might just wait until a reasonable percentage of the maximum circulating supply is reached, which is not until, let's say, the 3rd or 4th ChronoEra. Plus the utility for the early buyer isn't there since they don't own a TimeMint and there is no other time based instrument yet that uses the token.

Or do you think these potential effects will cancel each other out and all the TimeMint owners understand that this probably a long hold if they want to see a return on their ETH?

Thanks in advance for any constructive answers and/or explanations, i appreciate it!

[Warsaar]

https://www.timemints.com/

An useful tool to check out TimeMints contribution / ChronoPower based on your Ethereum address.

Hey,

My address have not been verified on this site.

there is "Oops.. Your address is not found in transactions."



UPD: problem solved - just needed to wait.