- Bubbled: Cyptonomics and our Decentralised Reserve
Humans, perhaps by design, defy desired expectation when presented with choice and balk against being ‘kettled’ toward a certain direction. Free will means just that, the ability to decide freely, however; can will truly be called ‘free’ in a society that has been carefully constructed over the centuries by a centralised cabal to enable their continued reign in power, hidden or in plain view?
To put it simply, Morpheus asked Neo: ‘Do you think that’s air you’re breathing now?’ or another way to say it, ‘Do you think that choice you made was of your own free will?’
Globalisation has placed us all in a petri-dish, where every sight, sound, smell and taste was placed there by the design of some person or persons, known or unknown. Our choices made are the product of a lifetime of manipulation, whether we opted in knowingly or unknowingly. The type of clothes we buy or foods we eat, who we date, where we live, how we live — these decisions whether we want to accept it or not are the byproducts of a greater game of manipulation by players seen or unseen.
Even Bitcoin. Some see Satoshi as a hero, some see she/it/he/they as a villain; however, one thing is very clear: the result has resulted in another ‘choice’ to be made by you and me, presented by a person or persons, known or unknown. Was the credit crash of 2008 orchestrated to move the world economy onto a system of ‘decentralised’ altcoins (which is controlled by the value of Bitcoin, hypothetically making Satoshi, holder of a million — so far inactive — Bitcoin, the controller of the entire market)? — did I use the pronoun ‘she’ instead of ‘he’ first, for any particular reason?
Every choice we make is a result of the only choices that have been mapped out for us, by a lifetime of manipulation by persons seen or unseen. Mostly. Of course, you can break free. Perhaps, Satoshi did.
Mapped out choices is what Cryptonomics is all about. In the design of a utility token, you must think about:
- What do you intend it to be used for?
- What will the community most likely use it for?
- How do you keep it being used for its original purpose?
- How do you ensure that all types of community members benefit?
- How do you keep it in circulation?
Most of us don’t like to feel we’re being manipulated into acting out a set of behaviour. However, at Bubbled we feel it’s important to let you know that you’re not being manipulated, but rather, to ensure a truly decentralised platform — we are thinking about every type of user that may use the platform to create their own market or benefit from it in their own unique way.
This means we have tried to incorporate multiple paths to ‘choices’ to present to you, which you will find benefit from but will still ultimately achieve our goal of unlocking the commodity of virtual land for the decentralised sharing of assets in AR; and a new layer for inroads towards decentralised systems of governance in this new reality.
A Decentralised Reserve
Token economics of the Bubbled platform are key to ensure BBL flows for the primary purchase of buying land. However, because there are trillions of land parcels available worldwide and BBL is intended to facilitate a global economy we realised there was a need for a regulatory system to ensure the liquidity of BBL but also issue the right amount to give it value and incentivise the community to use it. However, the regulator needed to be decentralised, so we devised the ‘Decentral Reserve’ which is a reserve controlled by a smart contract.
When land is purchased for the first time, the BBL used is sent to the wallet of the reserve where it is then held and kept out of circulation. This ensures the buying demand of BBL remains and encourages users to use it to buy land. However, this leads to the problem of inflated BBL prices and may encourage token hoarding, which we discourage as it may entice individuals to sell on exchanges at inflated prices.
So, the smart contract that manages the reserve has several features:
- A percentage of the transaction fee for buying land goes to the reserve and is used to purchase inflated BBL on exchanges and hold it in the reserve
- When the reserve holds more than half the total supply of BBL (200m + 1) it recognises a ‘Trigger Event’ and announces a Token Reissue Event (TRE)
- Tokens sold during a TRE are issued in accordance with buy caps and are sold at the initial price set during the original Token Generation Event
These are some of the steps we have taken to ensure BBL remains decentralised and ensures it is used for its original purpose.
In our creation of the Decentralised Reserve and the introduction of Token Reissue Events, we hope that the BBL token will act in the same manner as an infinity runner type game, helping us to achieve our individual goals, decentral but together.
Bubbled is an AR platform whose framework is solving issues of ownership and governance within real-world spaces hosting augmented reality content. Join our Telegram and follow for updates on our Token Generation Event.
- Date of publication:
- Wed, 02/14/2018 - 08:16
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