Topic: [ANN] [RC] Rising Coin - Self Pumping, Self Marketing Cryptocurrency (Read 285 times)

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Rising Coin is a revolutionary cryptocurrency with an innovative approach to game theory, market making and automated marketing, engineered to create a constant upward pressure on its price.



What Rising Coin is:

• A store-of-value coin
• Designed for traders and speculators
• Self pumping game theory, managed by smart contracts
• Automated self marketing, managed by smart contracts

What Rising Coin is not:

• Not a utility coin
• Not a security coin
• Not a minable coin
• Not a stakable coin
• Not a masternode coin

How does it work?


The Whale

The Whale is a smart contract which can mint and sell coins on exchanges. The Whale is the only way to increase the coin supply and it does its job with a twist: Each day, it increases its sale price %1 higher relative to previous day, with respect to USD.

At the launch day, The Whale's initial coin sell price will be 1 RC = 1 USD and it will start increasing the coin price daily. RC will always be exchanged with other cryptocurrencies, not fiat money but The Whale's sell price will be set with respect to USD. The Whale never buys coins back, it is only an agent of supply, not demand.

The market price of RC can not be manipulated, naturally it is the last price it was traded on an exchange. In order to sell their coins, the traders are expected to place sell orders below The Whale's selling price to undercut The Whale and offer a better price. Traders will be able to buy from anyone selling and if there is no one selling their coins are left, then they will be able to buy from The Whale.

From the stock-to-flow point of view, when there is heavy demand for RC, traders might buy all sell orders and reach The Whale's sell wall, which means coin supply will increase. This means that if the market demands more supply, flow will be created and stock will increase. On the other hand, when there is low demand for RC, the market price will diverse away from The Whale's sale price. In this case, coin supply will be fixed (i.e. zero flow), scarcity will appear and RC market price will be pushed upwards by natural market forces. As time goes on, with The Whale's increase of the flow price, it will be more and more difficult to increase supply, which will work in favor of scarcity of RC.

As The Whale will create an impenetrable sell wall, the market price of RC can not accelerate more than The Whale's 1% daily increase rate. As a side effect, if RC market price moves close to The Whale's sale price, it is expected that RC will not have price bubbles, hence it will not have bear markets caused by bursting bubbles.


The Marketeer

The funds accumulated by The Whale's coin sales will be spent for marketing of the project. The Marketeer is a smart contract which allocates the funds into automated marketing activities. The marketing material and the medium to display them will be supplied by the Marketing Team, which is a combination of the project team and the community. The voting process to pick the right ads for the right medium and the expenditure will be controlled by The Marketeer. This way we will make sure that the marketing of the project continues forever independently.

An example might be helpful to imagine the process:

1. Let's assume that at a certain date, The Whale's marketing wallet has an amount of ETH worth 20,000,000 USD.
2. Marketing Team (Composed of project team and the community) prepares and submits ads in various forms such as banners, full pages and videos to The Marketeer.
3. Data about how much lead each medium generated is shared with the community.
4. The Marketeer holds a community vote to ask the community which ad should be used on which media and what percentage of the funds should be allocated.
5. Let's assume results of the vote turned out to be: Google AdSense 20%, YouTube 30%, Facebook 15%, Instagram 35%.
6. The Marketeer calculates that it needs to keep advertising for 10 months, exchanges ETH into 2,000,000 USD and sends respective percentages to each medium.
7. Efficiency of ads are read through oracles, fed to The Marketeer, reported to the community and the cycle repeats.

Target of the project is to minimize and eventually remove development team's intervention at every point of the process. Even the community's intervention such as voting and submission of new ad and video materials will become optional rather than necessary.



Project Expenditures

The project has three main expense categories: development, exchange deployments and marketing. The main differentiating feature of Rising Coin is that every single penny left after development and exchange deployments will be spent solely on marketing. This rule is valid for both ICO funds and for the income The Whale will generate in future coin sales. Please note that we can not define exact figures yet, therefore the percentages displayed on the chart are only estimates.

Development

Most of the crucial code will be finished by project launch. After that, we expect the development costs of the project to be in lower single digit percentages. Smart Contract development will continue until we are satisfied with the quantity and quality of the oracles feeding The Whale price adjuster and The Marketeer.

Exchange Deployments

Initially RC will have its own exchange but we will continuously add RC to new commercial exchanges. The more exchanges, the better to reach a wider trader base, therefore a portion of the income will continuously be used for exchange deployments. Each exchange deployment will cause some development effort to add that exchange's API calls to The Whale. Once we are satisfied with the amount of major exchanges supported, we can eliminate this cost entirely.

Marketing

During the lifecycle of the project, marketing will be the major expenditure. To recruit more investors for years to come, a continuous amount will be spent on marketing. We expect the project to be viral at some point. Even after that, all the income left after development and exchange deployment costs will be spent on marketing to ensure continuous public awareness. The Marketeer is the main smart contract which will manage allocation and spending of the funds.





We will start our ICO soon, please visit our website for more information.


Links

Website: https://risingcoin.org
White Paper: https://risingcoin.org/whitepaper.pdf
Twitter: https://twitter.com/rising_coin
Discord: https://discord.gg/BKhMUXF
Telegram: https://t.me/risingcoin
LinkedIn: https://www.linkedin.com/company/risingcoin
GitHub: https://github.com/risingcoin

We are eager to listen to the community's feedback, please feel free to comment.