Chronologic (DAY)白皮书.pdf

CHRONOLOGICFIRST PROOF-OF-TIME TOKENIntroducing the DAY Token, the first Ethereum asset pegged to timeCONTACTS TEAMCHRONOLOGIC.NETWORKHTTPS//CHRONOLOGIC.NETWORKWHO WE ARE CHRONOLOGICCONTENT| PREFACE | THE BACKGROUND OF CHRONOLOGIC | PROOF-OF-TIME however, its distribution among humans’ life is unknown and unequal. Its total supply is unknown.Throughout the history of mankind, man has assigned value to a variety of objects and concepts including food, shelter, resources, gold, fiat money DAY will be used as payment to launch future third party Proof-of-Time projects on the Chronos plat while contributions to these projects during any token sale periods will be via DAYTimeMint - One of 3,333 minting addresses with the power to produce additional day depending on the MintingAlgorithm; the first TimeMint is denoted as TimeMint0001 with the last denoted as TimeMint3333MintingAlgorithm - The halving of a TimeMint’s ChronoPower; halving occurs every 88 daysChronoEra - 88 day periods during which the daily ChronoPower of a TimeMint stays the same; at the end of each ChronoEra halving of the ChronoPower occurs; for example, ChronoEra II would be days Days 89 to 176 after the birth of the DAY TokenChronoPower - The minting power of a specific TimeMint; each of the 3,333 TimeMints has a different ChronoPower ranging from 0.5 to 1 additional DAY tokens minted per dayDayZero - The birth of the ChronoLogic smart contract at which point ChronoPower starts producing additional DAY in each TimeMint on a daily basisChronos - the future Proof-of-Time Plat on which additional Proof-of-Time tokens EVEN HE WHO HAS NOTHING ELSE HAS THAT. BALTASAR GRACIAN 02PROOF-OF-TIME however, there is a hard cap of 38,383 ETH during the Regular Contribution Period, which will result in the Regular Contribution Period closing even if all of the 3,333 TimeMints have not been assigned. An example of total token supply in the entire ecosystem can be calculated as follows. The below diagram shows the total token supply after each ChronoEra. If every contribution to each TimeMint is 3 ETH then hypothetically the total supply results in the following number of DAY tokensAfter the crowdsale closes all non-reserved TimeMints are assigned, the TimeMints will start minting DAY tokens.HTTPS//CHRONOLOGIC.NETWORK- PAGE 11 // 26TIMETX - TIMEMINT TRANSFER ACQUISITION POST-ICOTimeMintAuctionsTimeMint holders may sell their TimeMint to a buyer. ChronoLogic has a process called TimeTx that allows the sale/transfer of TimeMints to a buyer/receiver. This construct is separate and unrelated to the auction function. To initiate TimeTx, the seller needs a minimum balance of 8,888 DAY tokens in their TimeMint. The seller then specifies the minimum bid in DAY tokens the expiry block number to start TimeTx. During the TimeTx process the seller’s 8,888 DAY tokens are locked and not accessible until the sale is over or the expiry block number is reached.During TimeTx, a buyer can send the requested price to the TimeTxContract to acquire the TimeMint. Any transactions lower than the seller’s price are automatically rejected receive a refund of their DAY tokens. The first one who has transferred the requested amount of DAY tokens or more will acquire the TimeMint from the seller.Once a buyer sends the correct amount of DAY, the buyer acquires the TimeMint. The total tokens involved in the transaction including the seller’s 8,888 DAY tokens plus the buyer’s amount are then be transferred to the seller’s wallet. The TimeTx flow can be seen below1. Seller sends 8,888 DAY to the TimeTxContract specifying the minimum reserve price denominated in DAY an expiration time resulting in the unlocking of the seller’s TimeMint.2. Buyer sends DAY to the TimeTxContract which equals or exceeds the reserve price.3. Buyer acquires the TimeMint converting his address into a TimeMint.4. All DAY tokens including the original 8,888 DAY are transferred to the seller.5. If no buyer surfaces then the 8,888 DAY is returned to the seller after the expiry block number is reached.This is a possible functionality that will be released in the future with advanced capabilities implementing various Time constructs into these auctions. ChronoLogic is reserving 88 TimeMints for release in the future via different auctions.TOKENCONTRACT8888 DAY, Min Purchase Amount, Expiry Purchase Amount8888Purchase Amount DAYMinting AddressStatus TransferHTTPS//CHRONOLOGIC.NETWORK- PAGE 13 // 2603CHRONOLOGIC THE REAL WORLDCHRONOLOGIC’S GOALSPROOF-OF-TIME BLOCKCHAIN PROJECTS IMPLEMENTATION GOALSChronoLogic will ultimately launch a plat, which will allow other users to launch their own Proof-of-Time tokens. The use cases for Proof-of-Time tokens are varied and will grow as additional projects are launched. The goal of the crowdsale is to launch additional Proof-of-Time blockchain projects implementing ChronoLogic’s technology.ChronoLogic 2017 Goals Develop a Proof-of-Time mechanism for the finance space. Beta test the implementation of a finance Proof-of-Time use case with ChronoLogic’s crypto private equity partner Wired Investors. Develop an auction functionality for a decentralized exchange of DAY tokens DAY TimeMints. Finalize development roadmap for the future Proof-of-Time Chronos Plat. Partner, support launch 6 Proof-of-Time blockchain projects.ChronoLogic’s 2018 Goals Deploy the finance Proof-of-Time use case for the public. Work with other partners to beta test additional Proof-of-Time use cases. Develop the open Proof-of-Time Chronos Plat to enable the launch of Proof-of-Time tokens by third parties. Partner, support launch 18 Proof-of-Time blockchain projects.HTTPS//CHRONOLOGIC.NETWORK- PAGE 15 // 26USE CASESTRANSPORTATION USE CASEProof-of-Time blockchain projects use cases that will be supported from contributions may include implementations on the future Proof-of-Time Blockchain such as the following.Finance Use CaseIn finance, many securities including debt securities are heavily dependent on time.For example, a debt instrument with a 5 year term paying 12 is effectively a smart contract that can be housed on the future Proof-of-Time Blockchain. To define the roles Company Issuer of the debt Investor Subscriber of the debt Debt Raise Goal 10,000 DAY Interest Rate 12 Terms Balloon payment after 5 years COM Company’s token 1 DAY 5 COMThe Company launches their Proof-of-Time token to help raise pay their crypto debt via the issuance of a smart contract. When an Investor sends DAY to the specific receiving address the Investor in return receives the Com