ARC Reserve Currency (ARC)
What is ARC?
ARC Reserve Currency ("ARC") is an asset-backed digital stablecoin. Proceeds from coin issues will be placed in a ring-fenced not-for-profit company and allocated to fixed income investments, across multiple currencies, to enable a stable-priced cryptocurrency. ARC is an ERC20 token.
ARC intends to be the first fully-regulated stablecoin cryptocurrency.
Passionate about a Stablecoin
Imagine you live in a country with high inflation or significant political or financial instability. Now imagine that you are looking to provide for your family and save for their future - earning enough to send your children to school or university.
Without a reliable currency and somewhere safe to store your savings, it is very difficult to achieve this. For billions of people around the world this problem is a reality.
A stable cryptocurrency can enable people to save and plan for their future globally - beating inflation and out of reach of untrusted counterparties. This is why we care passionately about ARC.
How it works
Full details are set out at the website www.arccy.org and the documents available there. An introduction to Arc in 1,000 words is available in a blog post: https://medium.com/arc-blog/q-a-introduction-to-arc-reserve-currency-in-1-000-words-49bea91c22ebTiming and ICO
The ICO is set to launch on December 15th, subject to regulatory confirmation. The project and coding is complete - as soon as the ICO completes, Arc Coin is live.
The minimum target of the ICO is $5M. The is no upper bound, as the coins will not be issued at a discount (to anyone, including the team). As long as there is demand and subscribers are paying full value, there is no limit (this is a very important aspect of any stablecoin proposition)
No more than 1% of proceeds will go to cover expenses (capped at $1M), the remainder will be held within Arc Fiduciary Ltd to support the value of Arc Coins.
Latest updates will be posted on our Telegram Group:
t.me/arcicoThe proceeds are used to support the value of ARC Coins
Arc Fiduciary Ltd will sell (issue) Arc Coin to purchasers. Arc Fiduciary Ltd will then allocate capital received from the sale of ARC coins across currencies into diversified lending and fixed income investments and cash – to enable the value of ARC coins to increase in line with inflation, with low volatility:
-
Currency diversification: this is across the top 6 currencies as reported by the Bank of International Settlements
-
Fixed income and cash: diversified holdings across many borrowers (via many lending partners) enables an appreciation in the holdings in line with inflation.
The value of holdings will be updated continually and publicly available at
www.arccy.org at all times. In addition, Arc Fiduciary Ltd, will have an annual audit.
The holders of ARC Coin will benefit from pricing controls to keep the price of ARC coin (Price per Coin) in line with the net asset value of the underlying assets of Arc Fiduciary Ltd (the NAV per Coin):
- If the
Price per Coin equals the
NAV per Coin, then no intervention is required.
- If the
Price per Coin increases above the
NAV per Coin, then anyone can purchase newly minted Arc Coins, at a price equal to NAV per Coin from the
www.arccy.org website; and then sell the newly minted coins on an exchange. This keeps the price down.
- If the
Price per Coin decreases below the
NAV per Coin, then anyone call sell back to Arc Fiduciary Ltd at a price close to the NAV per Coin (formula set out in the White Paper and Technical Paper - available at
www.arccy.org). This keeps the price up.
The combination of these three actions ensures that the price per coin is closely correlated to the NAV per Coin.
When issuing ARC coins there are three tests that must be met
- Proof of Funds: the subscriber (purchaser) of ARC Coins has provided sufficient funds
- Proof of Identity: the subscriber passes requisite AML/KYC tests (and any other regulatory tests as may be required)
- Proof of Reserves: the ARC Coins are being minted at the current NAV per Coin (to ensure no discount / premium is being paid).
Team
ARC is a collaborative effort led by Dr Garrick Hileman and Stephen Findlay, assisted and supported by a broad range of crypto-enthusiasts, investors, financial market experts, programmers and lawyers.
Garrick is a Research Fellow at the University of Cambridge Judge Business School, with over fifteen years of experience in the private sector with Bank of America, IDG and Allianz. Garrick has served on the boards of directors of both publicly traded and private companies and is known for his research on cryptocurrencies and distributed ledger technology.
Stephen is the co-founder and CEO of BondMason, a leading financial technology platform in the UK that enables distribution and administration of capital into loans and other fixed income investments. He was named as one of the top 50 in peer-to-peer finance in 2017. Stephen has 16 years financial services and investment management experience with firms including Fidelity, Deloitte and Andersen. He is a qualified chartered accountant (FCA – ICAEW) and became an approved person of the UK’s Financial Conduct Authority in 2009.
Bounty Program
Bounty Registration
To register to participate in the ARC bounty program, please:Bounty Rules – Play Nicely
As ARC aims to be one of the first regulated ICOs, we want the ICO (and subsequent coin offerings) to be robust, transparent and operate with a high degree of integrity. Therefore, we request to all bounty hunters:
1.
Positive statements: only describe ARC’s positive characteristics when comparing to other stable coins - do not speak negatively of the competition
2.
No spam: content should be meaningful, relevant and accurate
3.
Clear advertising: make it clear that your content constitutes an advert. For example, by disclosing you are taking part in the bounty in content creation and adding #ad on twitter
4.
Restricted jurisdictions: as a coin that will be regulated, ARC cannot be promoted in every jurisdiction (e.g. US). Please see
www.arccy.org for more details
Bounty Fund
The bounty fund will be determined by the total ICO proceeds:
• $5m raised: USD $5,000*
• $10m raised: USD $25,000
• $20m raised: USD $50,000
• $50m raised: USD $100,000
*Or equivalent amount in ARC Coins.
Bounty Hunters can score points by completing the tasks set out below. The total pool will be divided amongst all bounty hunters, based on how many points they have scored, compared to the total points score at the end of the ICO.
BitcoinTalk
• Users must have a minimum amount of posts/ status and have no negative trust
• The signature that is initially reported for that user cannot be changed throughout the campaign, one user cannot declare both accounts are used by them
• Quality will be measured across all posts and cannot be of low quality (spamming, copying and pasting) as these will not be accepted. Posts that are not seen to be constructive or have meaning will not be taken into account
• Posts made must be more than 200 characters
• Users must write 5 messages per week in the discussion threads of cryptocurrencies and these cannot be written in one day
• Users must change their avatar to the official ARC logo jpeg for the entirety of the ICO period
Points availableo 15 points for posts for posting 5 times/ week
• Footer design:
o Initial Design Concept: 50 points (anyone can submit a concept to
hello@arccy.org - the winner will be chosen to then be utilised for all footer designs)
o Junior Member: 15 points
o Member Footer: 15 points
o Full member: 15 points
o Senior Member: 20 points
o Hero: 20 points
o Legendary: 20 points
Content Creation
• Bounty hunters can create blog posts on Medium, Steemit, Newbium etc.
• Articles must be longer than 200 words
• Articles must be original, and any user found to be plagiarising or copying information will be disqualified. Official ARC images, logos and graphics can be used. These can be found on the
www.arccy.org website
• Articles must have a link to the
www.arccy.org and the Telegram group: t.me/arcico
• Articles will be judged by their quality, views and traffic
• To enable identification, articles must:
o Include author’s BTCTalk profile (if they have one); or
o Include a Telegram handle (if they have one); or
o The author should send a link of the published article to
hello@Arccy.orgPoints available
o Articles will be rewarded with 25 points
Twitter Bounty
• Users accounts must have more than 300 legitimate followers
• User accounts must be legitimate
• Tweets must:
o be useful, for example include: (i) link to Telegram group (ii) Website (iii) Blog posts etc; or
o be informative, for example include ‘stablecoin’ ‘ICO’ etc; and
o should include #ad to indicate they are ‘sponsored’ tweets and our Twitter username: @ArcReservceC
o Spread out - no more than 2 per hour or 5 per day
Points available5 points for following
@ArcReserveCPoints for retweets (RT) from @ArcReservceC @SteveWFindlay @GarrickHileman will be given to users depending on number of followers:
o <500 followers = 1 points per RT
o 500-1000 = 2 points per RT
o 1000-5000 = 3 points per RT
o 5000-10000 = 5 points per RT
o 10000+= 10 points per RT
Points for writing tweets will be given to users depending on number of followers:
o <500 = 2 points per tweet
o 500-1000 = 5 points per tweet
o 1000-5000 = 10 points per tweet
o 5000-10000 = 15 points per tweet
o 10000+ = 20 points per tweet
Translation Bounty
• Users must provide 2 examples of previous translation work to be eligible for selection
• Please reserve translations in the BitcoinTalk thread: first-come, first-served
• Google translate cannot be used in the bounty and any user found using Google translate will be disqualified
Points available
o Information Memorandum Translation – 50 points
o Whitepaper Translation – 35 points
o Technical Paper Translation – 25 points
o Website Translation – 30 points
o ANN Thread/ Bounty thread – 5 points
Telegram
• Our Telegram group is here:
t.me/arcico• Users must stay in the group until the end of the ICO.
• Users must be active and supportive – bad language, spamming or inappropriate behaviour is not allowed, and users found doing so will be disqualified. We encourage constructive conversation around ARC and its effects not only on the ecosystem but globally.
• Only project related discussions are allowed in the group - no discussion regarding this Bounty or other ICO promotion.
• One account per user, any user found using more than one account will be disqualified.
• You can earn points by referring other people to our Telegram group - they must also stay until the end of the ICO.
Points Availableo 15 points for joining Telegram group:
t.me/arcicoo
To earn referral points: fill in this form:Telegram Referral Form o If the Telegram Username you submitted on the referral field stays throughout the ICO you get 15 points for each person
o If the 'referral' does not exist on our channel, you do not get an extra 15 points
o There is no max referrals you can have. The more you refer the more points you get.
o If many people 'refer' the same Telegram Username, then only the 1st referral scores points (the first person to submit the form above with the referred Telegram Username)
Bug Bounty
• All reports must be sent to:
hello@arccy.org with subject: ‘Bug Bounty’
•
View code on Github• Our team will assess each submission individually and points will be awarded depending on the level of severity of the bug to the security and performance of ARC. Submissions will be given one of the following tags:
Points available
o Low: 10 points
o Medium: 25 points
o High: 50 points
o Critical/ Fatal: 100 points
ARC will award points at their own discretion, and their decision is final.
Thank you!
We believe ARC could provide stability not only to a volatile crypto-ecosystem, but in also has the potential to empower people across the world who are subject to high inflation and/or exposed to unstable financial or political systems.
ARC needs the support of the crypto community for this to become a reality. Join our bounty program today and help spread the word!Documentation and LinksARC in 1,000 words -
https://medium.com/arc-blog/q-a-introduction-to-arc-reserve-currency-in-1-000-words-49bea91c22eb ARC Primer and Overview -
https://www.arccy.org/sites/default/files/arc-public-docs/arc-primer-and-overview.pdfOverview of Money and Currency -
https://www.arccy.org/sites/default/files/arc-public-docs/overview-of-money-and-currency.pdfRoadmap -
https://www.arccy.org/sites/default/files/arc-public-docs/arc-research-road-map.pdfTechnical Whitepaper -
https://www.arccy.org/sites/default/files/arc-public-docs/arc-technical-whitepaper.pdfLending and Fixed Income Asset Class -
https://www.arccy.org/sites/default/files/arc-public-docs/lending-and-fixed-income-as-an-asset-class.pdf Website:
https://www.arccy.org/Twitter:
https://twitter.com/ArcReserveCTelegram:
t.me/arcicoMedium:
https://medium.com/arc-blogWarning and DisclaimerPlease note: nothing in this message constitutes an offer or solicitation for investment or otherwise. Please refer to
www.arccy.org to all terms and conditions relating to the Arc Reserve Currency.
