Lats launched - national currency Latvia gave away after joining the EU

[hostmaria]

[Announcement]

We, the Maria Ecosystem have launched $Lats coin for the Latvian community.

The meaning of "Lats" > it is the name of the national currency Latvia gave away after joining the economical alliance of the EU (good or bad > not for me to decide).

Lats coin is a PivX fork.

1st 1000 blocks are PoW, the reward is 100 $Lats/block.

1001+ > PoS (staking + masternodes)

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The main idea is to resurrect Lats in the digital format and put it in the hands of Latvian webmasters.

History of Lats: https://en.wikipedia.org/wiki/Latvian_lats

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PoS: from the block 1001 - ∞
Algorithm: Quark
Premine: 0
Block Time: 60 Seconds
Maturity: 100 Confirmations
Masternode Collateral: 1000 $Lats
Port: 45459

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Rewards (Proof of Work after the block 1001)

Block: 1001 - 501 000
Reward in a Single Block: 10
Masternode: 6.00 (60%)
Staker: 3.00 (30%)
Treasury: 1.00 (10%)

Halving: 5x halvings every 500'000 blocks (table to be added)

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Lats coin phase 1 (Launch) lead developer: Liquid369: https://github.com/Liquid369

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Links:
Explorer: https://explorer.lats.cc (to be updated)
Website: https://www.lats.cc (to be updated)
GitHub: https://github.com/orgs/LATS-DAO/dashboard
Wallets: https://github.com/LATS-DAO/Lats-Core/releases
Whitepaper: .. to be updated

Discord: https://discord.gg/xVvajam5u2
Telegram: https://t.me/latscoin

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The first information is very basic: the idea is to leave as much space available for the yet unknown future group of Latvians who will (hopefully) make and keep this coin as decentralised as possible.

https://i.imgur.com/oXg4sUp.png

More information to follow.

Helmuts

[hostmaria]

.. just in a case if anybody asks:

>> We plan to continue working on Maria Ecosystem and $Maria coin and concentrate our efforts on it.

The $Lats coin is a gift to Latvia and the Latvian online community.

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[BITDV]

didn't see any interesting concept here. Just selling the name and news   

[hostmaria]

just an announcement.. no academic stuff nor "over the moon promises" are to be found here. is this ok?

people are way too obsessed with novophilia these days

.. this is a project in it's infancy stage.. will see where it goes, who will pick it up (from the Latvian programmer community) and no promises whatsoever are made to anybody..

Great Monday all!
Helmuts

[hostmaria]

Adjusted Tokenomics:

Block Rewards:
Ref: https://github.com/LATS-DAO/Lats-Core/blob/main/src/validation.cpp

• Block 1 to 1000 = 100 $Lats per block (end of the PoW stage)
  1001 - 2000 = 100 (High reward PoS stage)
  2001 - 192'000 = 9
  192'001 - 300'152 = 4.5
  300'153 - 800'153 = 2.5
  800'154 - 1'600'154 = 1.5
  1'600'155 - unlimited = 1

Masternode vs Staker Reward split:
Ref: https://github.com/LATS-DAO/Lats-Core/blob/main/src/validation.cpp

• Block 1 to 1000 (PoW stage 1) = 100 to Miner
  1001 - 2'000 (PoS) = 100 to Staker
  2001 - 192'000 =  6 $Lats coins to MN & 3 $Lats coins to Staker
  192'001 - 300'152 = 40% MN & 60% Staker = 1.8 coins for MN vs 2.7 for Stake
  300'153 - 800'153 = 45% MN & 55% Staker = 1.125 vs 1.375
  800'154 - 1'600'154 = 50% MN & 50% Staker = 0.75 vs 0.75
  1'600'155 - 3'000'155 = 55% MN & 45% Staker = 0.55 vs 0.45
  3'000'156 - 9'900'157 = 60% MN & 40% Staker = 0.6 vs 0.4
  9'900'158 - 16'400'158 = 65% MN & 35% Staker = 0.65 vs 0.35
  16'400'159 - unlimited = 70% MN & 30% Staker = 0.7 vs 0.3
  

The Budget (also known as DAO payments) will be 10% of the block reward, which users can claim for their budgets every 43'200 blocks.
Note: Budget coins are NOT included in a block reward - they come from a Superblock (generated based on approved proposals every 43'200 blocks) with a maximum of 10% of the block rewards.

[hostmaria]

We have created an automated bootstrap process for all those who don't want to wait for synchronization: https://bootstrap.lats.cc/

// The file will update itself every 4 hours

H