DE-FI IN A HYBRID JACKET
Decentralized burning, virtual mining and staking …
Arteon’s goal is to create a system that simulates the world of Bitcoin (and altcoins) mining without the expensive necessities and consumption of power, CPUs and/or GPUs.
The large mining factories that exist around the world make it almost impossible for the simple man to participate in mining Bitcoin or other coins. Nowadays it requires a lot of computing power and electricity to participate in the mining, so much that you do not weigh the costs of the mining against the yield (if you already get it).
Physical mining equipment (ASICS or a graphics card rig) has a lifespan and eventually ends up as scrap metal on the dump yard.
So what exactly does the simulation entail what Arteon has in mind?
By using ERC721 non fungible tokens (Arteon Graphics Cards) we want to simulate the real mining world but without the necessary expensive hardware and large electricity costs, and create a market of Arteon NFTs.
Create passive income by generating Arteon with your Arteon Graphics Cards NFTs just like Bitcoin miners do.
If you don’t yet know what an NFT is, we recommend reading this article: https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
Arteon Graphics Cards are therefore Non-fungible tokens and are not physical cards, which immediately brings out the first advantages of simulation:
- No limited lifespan like physical cards or ASICS
- No parts that can break in physical equipment
- No electricity costs
- It doesn’t take up any space, you can keep your Graphics Card in your wallet, like MetaMask .. Sounds crazy, doesn’t it?
If you buy an Arteon Graphics Card, you buy an ERC721 token (Also called Non-fungible Token, NFT) that represents the Arteon Graphics Card. Digital animations, like the picture above of the Genesis Card, can be stored in an NFT.
Each version (existing or new) that is released will be a separate ERC721 token and thus a completely different card with its own appearance (other versions of Arteon Graphics Cards will therefore look different from the image above of the Genesis card).
For each version of an Arteon Graphics Card that is released, a separate mining pool will be set up. For the Genesis card, for example, a separate pool will be set up in which you can only participate if you have a Genesis card in your possession.
And this also applies to other future cards, you can participate in a mining pool, if you have the specific card that belongs to that pool. So if you have the Genesis Card and (we call it Card X for the sake of convenience) a card called Card X, you can mine in the Genesis Mining Pool and the Card X mining pool because you own both cards. For example, if you only have Card X, you can only participate in that pool, you cannot use Card X in the Genesis Card pool.
Keep in mind that a certain amount is available per card! To give an example: the Genesis card will become a very rare item, which means that very little of it will be put into circulation, which automatically means that the mining pool set up for the Genesis card will have a high mining rate, because only a few people can participate in it. Each card will have its own characteristics. The rarer the card is, the higher the mining rate for that card will be because fewer people can participate in the relevant pool than a card of which many more are available, and so you are in the pool with many more people, which means that your share is lower compared to the Genesis mining pool.
Creating an entire Arteon NFT market
Buy new released cards and participate in multiple mining pools, or sell your old card to buy a new one ..
As new versions will appear over time, a market is automatically created in different types of Graphics Cards.
Some are collectors, some just want to participate in all mining pools and therefore buy all available versions, and some are merchants who buy rare limited versions as soon as they come out and offer them for sale at double price on OpenSea or any other NFT market.
The world of NFTs is on the rise and people are paying big bucks for a rare NFT. A good example of this is cryptokitties. To give you an example, someone once paid $170,000 for a digital cat.
So you have full control over what you want to do with your Arteon Graphics Cards. A sensible person will not sell the Genesis Card cheaply as it gives him access to an exclusive pool where the mining rate is high.
All funds that Arteon itself earns from selling new released cards will be added to the liquidity pool on Uniswap, which we will return to later in the article.
The evolved staking mechanism (or do we call it farming these days?)
In addition to the simulated mining idea, we also want to offer options for people who don’t like NFTs …
To accommodate people (but also to add diversity to the token itself) you will be able to stake in addition to mining. Is staking the right word? Maybe, these days staking and farming are quickly confused with each other. See it in your own perspective.
It is difficult to say whether this can be called staking or farming. With many staking platforms you are forced to lock your tokens for a certain period in order to receive shares and charge a penalty if you decide to quit early.
For us, this makes absolutely no sense, if we look at traditional PoS altcoins, which operate on their own blockchain, we are not forced to lock our coins and we do not receive a penalty for ending the stake prematurely. Alright, usually the traditional PoS coins have a mature time, which can sometimes be very long, but still you don’t get a penalty thrown on your roof.
Therefore, Arteon’s staking mechanism will be as simple as it can be:
- The more Arteon you stake, the bigger your share.
- No early termination penalties, if you quit, you quit.
- No entry fees
Simple and logical.
With the staking aspect added to the original idea (mining with NFTs), you can consider Arteon as a traditional PoW / PoS coin but in a hybrid jacket.
Arteon is an ERC20 token where with every transaction 0.001% of the total amount sent from wallet A to wallet B is automatically burned, which ensures a constantly fluctuating total and circulating supply depending on what is mined in our yet to be developed mining system.
No manual actions are required and everything is coded in the token smart contract. This means that the makers cannot change this and this will always remain the case. Think of it as the Olympic fire that never goes out!
The Arteon smart contract:
Burning and minting (from the mining and staking contracts), these two aspects are continuously present and therefore a total supply is different every day.
The purpose of this is to increase the value of the tokens with a decreasing number of circulating tokens. Often it depends on the maker of a particular token when this happens (if this is promised by the maker) and the token holders have to wait for it.
That is why we used the concept of BOMB! Instead of promising we’ll burn tokens, let’s do it yourself. With every transaction involving Arteon, be it a transaction from wallet A to wallet B, between contracts, or to Uniswap, 0.001% of the total number of tokens involved in the transaction will be burned automatically. Call it decentralized burning ..
You can view these transactions at https://etherscan.io/token/0x897abf83f0c44b86cb67ec56c006c00d56659517
Tokenomics & Roadmap
The roadmap will be available on the updated website. Realizing ideas takes time and therefore Arteon should certainly not be regarded as a 14-day moon project. We certainly do not recommend this project to moonboys.
The tokenomics are a bit tricky to describe, as the deployer wallet keeps zero Arteon at the moment (which is also the intention) and the fact that Arteon is constantly being burned through the transactions at this point and since the mining and staking platform are both not yet operational, the total supply is shrinking …
We expect that the total supply will eventually be somewhere between 35M and 50M (this includes Arteon allocated to the smart contracts).
To calculate how much is actually circulating among holders, it is best to go to https://etherscan.io/token/0x897abf83f0c44b86cb67ec56c006c00d56659517#balances
If we look on Etherscan at the Max Total Supply (top of the screenshot) we see that at the time of writing that is 34,560,713 ..
If we now take the Max Total Supply (so the number of Arteon that exists at the moment) which is 34,560,713 and we subtract the 10,186,438 from Uniswap and the 7,067,643 from Pyrabank, we get to 17,306,632 Arteon which is really owned by holders. Now we also see Bilaxy in the list, you take that number off as well, you are left with even less what is of current holders. It must be said that people on Bilaxy also buy Arteon and keep it in their Bilaxy wallet. So that is not entirely accurate.
There may be several smart contracts in the list (such as TipCC) that we have not included in our example calculation, it was more to give an indication.
A fun fact, also Vitalik Buterin owns some Arteon, yes really: https://etherscan.io/token/0x897abf83f0c44b86cb67ec56c006c00d56659517?a=0xab5801a7d398351b8be11c439e05c5b3259aec9b
To get back to number two on the list, Pyrabank ..
Pyrabank is a third party that has integrated Arteon in their dApp. All Arteon included in their smart contract comes from Arteon holders who have deposited their tokens in the Pyrabank smart contract.
Why would they do that?
The idea behind Pyrabank is to deposit your tokens and leave them in to earn dividends. You pay an entry and exit fee (you pay the exit fee at the same time as the entry fee) and that fee is divided as Arteon dividends among people who were active in the platform before you.
Basically it’s a PoWH kind of clone, but without the price fluctuations (so you can’t lose your Arteon if other people leave, you only lose the fee you pay). It provides a nice use case for Arteon until the Arteon platform itself is operational.
If you want to know more about Pyrabank, we advise you to visit the website which is https://pyrabank.com
In which wallets can you keep your Arteon?
Arteon is an ERC20 token on the Ethereum network, as mentioned before. So you can use all Ethereum wallets that support ERC20 tokens.
We recommend MetaMask, because of its user-friendliness and because it is easy to use to interact with smart contracts.
Arteon community & resources
Official website: https://arteon.org
Delta App: https://delta.app/en/crypto/arteon/arteon
Bilaxy ETH/ARTEON: https://bilaxy.com/trade/ARTEON_ETH
Bilaxy USDT/ARTEON: https://bilaxy.com/trade/ARTEON_USDT