INBOT (Grow With InToken)

iamadebolaji (9)in #inbot • 6 years ago

InShare (INS) Smart Contract

InShare contract manages the balances of INS owned by each INT address. It also manages the emission of INTs from InShares. The contract implements ERC20 standard but is not active as a tradable token. This means that all transfers and approvals will eventually fail unless we decide to lift the restrictions on InShares.

Information managed in Ethereum blockchain:

Balances: InShares per INT address.
Transfers: Transfers of INS between INT addresses.
Approvals: Approvals for withdrawing shares from INT addresses.
Share Supply: Current amount of INS in circulation which is controlled by minting (issuance) and destruction (burning) of InShares.

Information managed in Inbot Ambassador Wallet:

Token Rollout: The amount of InTokens issued per InShare during rollout.
Token Dividend: The amount of InTokens paid out as dividends.
1. 15% of the intro rewards.
2. The difference between IN% and 200% of the intro rewards paid to the Ambassador.
3. Additional dividends from Inbot Oü can be decided from time to time.

A SOLUTION FOR MINIMIZING ETHEREUM TRANSACTION FEES

In the spotlight of the recent Ethereum price surge and increased transaction fees we revised the strategy for managing the introduction process through the Inbot Mediator Gateway contract and paying regular dividends directly with the InShare contract. We plan to deploy these contracts when an appropriate sidechain solution will be introduced for Ethereum.

We store InTokens in the Ambassador Wallet as vouchers. This concept will serve a role of an intermediate value vault for InTokens. Vouchers can be easily converted to InTokens at any time. Dividends being paid will be aggregated to member’s InToken voucher balance and all rewards will me denominated in vouchers as well. We will store InTokens of our members in a secure vault that provides liquidity to both businesses and Ambassadors. This way, we can preserve a seamless user experience and provide a secure gateway to fiat.The image below outlines a withdrawal process of InToken vouchers and corresponding conversion to on-chain publicly visible InToken balance (external Ethereum address).