[ANN] PANGEM Autonomous Self-regulating stable value Cryptocurrency whitepaper.

[PANGEM]

Hello,

All current cryptocurrencies have the same inherent weakness I call the "hold/hostage" syndrome.
This is due to cryptocurrencies being viewed and treated as assets.
It means people buy and refuse to sell because of the expectation of value increase.

The problem this creates is that the crypto does not get to be widely used.
Another problem is that due to low circulation large changes in trading volume can affect the value.

I am designing a cryptocurrency that will keep a relatively stable value and does not suffer from this "hold/hostage" syndrome.
The name of this project is Pan Global Economic Money/Model Autonomous Self-regulating Currency.

Below is a github link with a short intro and the whitepaper.

I welcome comments and if anyone is interested in joining this project feel free to contact me.
I am currently looking for people interested in joining this project and angel investors to get this going.

https://github.com/PANGEM/Lounge

Direct link to whitepaper:
https://github.com/PANGEM/Lounge/blob/master/PANGEM-Whitepaper-V6.pdf

Regards.


-edit-
P.s. The whitepaper is still in its draft stages so not all figures and calculations will be exact and accurate. A lot of expertise and time is need to emulate the economic model to obtain a reasonably good forecast on how it will evolve.
White paper link updated to latest version.

[PANGEM]

I am posting the introduction I also have on the github wiki tab for PANGEM:

What is PANGEM ASC?
PANGEM stands for Pan Global Economic Money/Model Autonomous Self-regulating Currency.
It is a cryptocurrency designed to be totally autonomous and self-regulating.
What this means is that the currency does not need to rely on existing indexes or fiat currencies to regulate itself.

All current cryptocurrencies that aim to be stable or low-volatility have themselves pegged to a fiat like the USD, gold, or some sort of index.
The inherent flaw is that a cryptocurrency pegged to an existing commodity cannot take its own proper value. It makes its value no different than to the commodity pegged. Why use a cryptocurrency pegged to the value of USD when you can just use USD (or in the far future an official crypto USD)? Or if the linked commodity drops in value due to economic downturns or trade wars then what happens to the cryptocurrency?

PANGEM solves this problem by using internal mechanisms independent of outside economic influences to determine its value and regulate itself. That is, it does not need to be pegged to the USD or gold or any external economic index. It is free from the fiscal policy shackles of governments, banks, and international monetary institutions.

It makes this possible by 2 major mechanisms:
1/ Macro control of total supply
2/ Micro control of circulating supply

PANGEM also solves an inherent weakness of all cryptocurrencies; that they are all designed as "hold" coins. What this means is that all current cryptocurrencies effectively operate as assets (even those designed as stable coins). People buy coins in the hopes that the value will increase and then sell them for profit.

Even current "stable" coins have this inherent flaw. One might ask how can "stable" coins suffer from this "hold" syndrome? A new breed of stable coins is trying to stabilise value by controlling the supply of coins. However, those cryptocurrencies have designed coin supply expansion to occur by rewarding current coin holders. If that is the case then the incentive to spend diminishes.
The problem with "hold" cryptocurrencies is that the circulating supply is low and therefore can be very sensitive to volume fluctuations in the market.

However PANGEM has resolved this "hold" syndrome through 3 minor mechanisms that together form the "Micro control of circulating supply":
1/ Minting of New coins through Spending.
2/ Minting of New coins through Staking.
3/ Minting of New coins through Saving.

The rate of minting is intertwined and balanced between the 3 "S". If one method of minting is favored then that increases the incentives for the other methods. This creates an interplay between staker/spenders/savers.

[Notin2]

So in essence PANGEM will not be pegged to any currency that will determine its trend in market? So in this case it means there won't be influence of maybe btc or usd to determine price movement? Then how is this going to play out? Am quite curious about this because just recently i was chatting with a fellow crypto member in one forum and we talked about when we can see a token or coin that is not pegged to btc in pricing, and am suprise to have come across this project. This will surely be interesting
But you need to do more with Ann page, more updates and links to website, whitepaper etc.

[PANGEM]

Exactly!

My whitepaper has more details on how that will be achieved.
Yes, it is true I have to work on this [ANN] topic.

Currently, I only have academic people as advisors and a prospective team of ICO/blockchain developers.
So basically it is only me doing all the footwork right now.
I wrote the original whitepaper a few weeks ago and it is just now that I am coming out with it to get feedback on the crypto community as a whole.

It really is in the earliest stages of development. But I hope to get this thing moving quickly.

[PANGEM]

bump

[SatoshaNakamoti]

No need for this. There is already a project called « Haven Protocol » $XHV thats works on something similar. Just join that team or find another idea

https://bitcointalk.org/index.php?topic=2989487.0

[PANGEM]

No need for this. There is already a project called « Haven Protocol » $XHV thats works on something similar. Just join that team or find another idea

https://bitcointalk.org/index.php?topic=2989487.0

Hello Satosha,

Thank you for bringing me to the attention of "Haven Protocol".
I've read through their very short whitepaper and its a very different idea.
As they rightly state it being some sort of offshore store of money based on the USD I am not sure how you consider that project similar to mine and state, "there is no need".

I suppose you would also say that Haven is similar to Bitshares, Fragments, Basecoin, Saga, and all other stable coins?

Haven is a very different concept that is actually novel but if you think about it also may be unnecessary......

Quoting from their whitepaper:
"Bob decides he wants to put 200 of his Haven into offshore storage.
The offshore smart contract determines the current market value of that Haven (in USD for now) based on a weighted average of volume across supported exchanges.
If the current value is $1 USD then the contract will record a value of $200 USD worth of Haven at Bob’s request. The 200 Haven that was sent is then burned and the total money supply decreases. If the price of Haven then moves to $2 USD and Bob decides to access his Offshore Storage, he will be returned 100 Haven (100 * $2 = $200 USD as per original value).
If the opposite occurs and the price of Haven halves to $0.50 then 400 coins will be minted and sent to Bob."

Okay, but why use a smart contract when you can just change back to USD? Or will they use another fiat currency? A basket of fiat? An index? Gold? Whatever they use why not just change into that?

And what if it is the USD that drops in value?


So, how is haven similar to PANGEM?

[PANGEM]

Bump- for those who have not seen this topic.

[PANGEM]

The project has a solid fundamentals and if properly implemented, this will be succeed.

Hello funcydacor,

Thank you for your comments! The details are far from perfect but I am happy to see that you can appreciate the fundamentals and see the possibilities.

I actually did my market research after writing my white paper because I didn't want to be influenced by other projects.
And so far I have not seen any other cryptocurrency project that tries to achieve the same thing! So I am also confident of the success of the project.

Regards,
Isaac Hwang.

[PANGEM]

I hope that I can get more feedback and first impressions on PANGEM.

[PANGEM]

bump

[dkbit98]

Do you plan to release any alpha or beta product ?

[PANGEM]

I think it can be an interesting project, let's see. But guys, can you explain to me a bit more about what is the main advantage as an investor? What will I get?

Hello pachornbullta,

As an investor you can benefit in 3 ways:

The first 2 ways are the general benefits where you can increase your wealth through minting much like you would through a savings account:
1/ You can stake your coins for minting new coins
2/ You can save your coins for minting new coins

The 3rd way is the most important since the focus is not just on holding coins. This system is geared to produce a healthy volume of trade by also giving incentives to spending.

3/ As an investor, you can liquidate your holdings without the fear of crashing the market.

You can't do that with all current cryptocurrencies because the injection of coins will eat through order books dropping the value.

With PANGEM, the aim is to create a group consensus on the value of the coin thus reducing or eliminating speculation.
If everyone is aware they are rewarded through spending then there is less need to deviate from a value because wealth creation no longer needs to be achieved by buying low, hodling, and selling high.
You can create wealth by spending and so if everyone was selling and buying close to the same value and the velocity of the coin is very high the cryptocurrency is better equipped to handle large injections of coins in the circulating supply.

You can think of cryptocurrency as a river.
There are many small tributaries that feed a river.
But if you build dams on the small tributaries to create reservoirs for electricity production you also block the flow of water (holding).
This will reduce the water level of the river (circulating supply or in this case flowing supply?).

So because the river has gotten smaller you see people building houses closer to the water.
The person who owns one of the dams releases a little bit of water to create electricity from time to time, but now he decides he needs to empty his reservoir because he needs more electricity for a very large project.
The sudden influx of water causes the river to swell destroying the houses that were built closer to the water.

And now everyone is afraid to release their dams because they don't want to destroy houses.

That is the current state of cryptos in the world and comes as a result of cryptos being designed as assets and not a true medium-of-payment.

[PANGEM]

Do you plan to release any alpha or beta product ?

Hello dkbit98,

If you mean before any pre-ico or ico.
Yes, there will be alpha testing.

Beta testing not so sure, it depends on whether we assume a model like EOS where we would utilise ERC20 tokens that we would later change for our own coins. If we do that then the ERC20 token period will be a beta and field testing period. The plan would then be to have the ability to roll-back to previous states if any problems occur.

We have yet to finish determining whether existing blockchain platforms can be used or if a new platform will have to be created.

[dehvid]

What algorithm would you be using?

If it happens to Cryptonight, we have a small mining farm we could dedicate to the testing.

[PANGEM]

Hello all,

I'm thinking of creating a hybrid proof method and would like comments.

I call it Proof of Staked Coins and Hash, POSCH.

What this entails is that Rewards allocated for POS would be split into 2.

So it would be 40% to POS and 60% to POW.

Rewards would be equally distributed among all POS holders.
POW rewards distributed depending on hash rate contribution.

However to be eligible for POW the first prerequisite is to be a Staker.
Being a Staker makes you eligible to do POW for 3 months. So starting from the month your stake is locked and 1 month after.
Since staked amounts are locked and are not usable for the next round due to the overlap, an extra month of eligibility for POW is provided to cover the overlapping month.

However, the hash for POW is also staked. When the average hash rate for the last 120 hours (5 days) is below 50% the original staked hash rate, the POW eligibility is revoked. This is to discourage jumpers and reward stakers.
The staked hash will be calculated as the average hashrate from the first 24 hours when POS and POW are running simultaneously.

I think that by implementing a POW system like Ravencoin or Pigeoncoin would increase its resistance to ASIC.

The aim of having a hybrid system is to reduce possible attacks and to create a more fair distribution of coins.
And by linking POW rewards to a staked hashrate it would mean active participation for miners in the POS system.

The verification functions to be performed by the POS and POW systems is yet to be determined, but I would imagine the POS system would be in charge of the Ledger and the POW system would monitor the reward distribution.

But I'm open to suggestions.

[PANGEM]

Bump

[PANGEM]

It's a very awesome project,  good luck!

Hello flavininar,

Thank you for your comment and encouragement!

Regards,
PANGEM team.

[PANGEM]

Hello all,


Please find a link to the latest updated white paper:

https://github.com/PANGEM/Lounge/blob/master/PANGEM-Whitepaper-V6.pdf

If you open the pdf with a reader instead of viewing through github you can use the handy bookmarks to go directly to parts of the white paper or return to the table of contents!

If you are using a reader you just have to click on the "titles" at the table of contents or click on "go to table of contents" at the top of the page to return.

A new section has been added and the workings of the cryptoeconomy have been slightly fine-tuned.

Regards,
PANGEM team.

[PANGEM]

that project will be succeed. i saw a lot of project just like this before

Hello rispensslocis,

Thank you for your comment and encouragement!
We are currently in talks with an ICO outfit and in the process of recruiting blockchain engineers/developers.
However, blockchain engineers/developers are sure in short supply nowadays.

Regards,
Pangem Team