Topic: [ANN][Airdrop] YAB Token: 100% airdropped to people with no reserved admin funds (Read 418 times)

Yet Another Bomb
...or is it?

Website - Twitter - Discord - Telegram - Smart Contract



YAB Token is a deflationary cryptocurrency inspired by BOMB but unlike BOMB it will be airdropped to the people in full meaning there is nothing reserved for admins or anyone else.

Total supply: 1,000,000
Burn rate: Minimum of 1 per transaction or 1% of the transferred amount
Reserved funds: None
Blockchain: Ethereum
Type: ERC20
 
Airdrop waves: First 30 days: 400 $YAB, Following 14 days: 300 $YAB, Until total supply is airdropped: 200 $YAB
Delivery method: User calls the function & pays for Gas themselves



Why YAB?

The trouble with our predecessors lie in the way tokens are created and handled. If you look at their source code you'll notice that immediately upon deployment the smart contract mints (creates new tokens) all of the total supply to the creators' address. From there you can trace transactions to multiple smaller wallets, but that's all they are- just regular wallets with private keys still in the hands of the owners.

Tokens are then eventually airdropped to participants from a massive wallet that the owners themselves control. They claim to have sent them away to "colder than cold" storage, but the only way this was possible would be if these wallets were smart contracts with a timelock mechanism built into them that would release tokens only after a certain period of time. Unfortunately this is not the case with any of our predecessors and sooner or later they will be forced to dump their tokens on the market.

Think about it. If you owned 100k of a token that was suddenly worth 10-100 million, wouldn't YOU dump it on the market? There will always be a certain price limit where plain and simple greed kicks in and all you see are lambos. It's just human nature.

And if you somehow believe that the owners are not like that, if you believe they are honest and good people, what about the fact that their market share is constantly increasing because the total supply is shrinking every single day? Sooner or later, even if they didn't care about lambos, they would be forced to sell parts of their holdings just to remain with a small enough market share that investors would still take them seriously. Otherwise the whole project would crumble.



World's first truly decentralized social and economical experiment

Yet Another Bomb (YAB) has taken a different approach. Instead of minting all of the total supply to the smart contract creator, we didn't mint anything at all. Go ahead check out the smart contract and audit it yourself: https://etherscan.io/token/0x52A7a5B50A567cA6c0a4F85E74b98142eba43f49

New tokens are instead minted by the person interested in receiving the airdrop. Yes YOU are the only person who can mint new tokens to YOUR address. And because tokens are minted not transferred, you will receive the full airdrop amount and nothing is burned.



How it works

Sign up for the airdrop by following the steps here: https://yabtoken.com/airdrop.html
Admin verifies and whitelists your address in the smart contract
You call the getAirdrop(); function and mint tokens to yourself

Don't worry if you have no idea how to call functions in a smart contract. Once the airdrop registration period closes we will add a simple claim button on the website. All you need is a web3 enabled browser (MetaMask etc) and a little bit of ETH to pay for Gas. Remember, Gas is required in order for Ethereum miners to process your airdrop request as the function permanently modifies state variables (token balance, etc) in the blockchain. We promise the process will be as simple as mating cryptokitties



No censorship

Unlike our predecessors we invite you to be provocative. Feel free to talk about other projects if you believe they are worth talking about. Ask tricky questions from the admins and try to corner them. We don't ban you for spreading rumors, false news or blatant fud because that's a part of what the experiment is trying to study.



The team behind YAB

Blockchain technology has, for the first time in history, enabled us to become truly trustless in a sense that we no longer need to trust the other person behind the screen. All we need is to verify that the smart contract does what it's supposed to and we're good. In other words the code is law and a team in its most traditional sense is no longer relevant.

There is no traditional "team" behind the YAB experiment. Everyone is part of the team. Everyone can suggest new and innovative ideas and everyone else can vote for these ideas and suggestions. The best chosen suggestions will be considered and if humanly possible, shall be made a reality.



Join us!

How will you act knowing that the creators of a token hold no big bags? Will you speculate on the price? Will you spread fud and manipulate the market? Perhaps you will simply hodl and watch from the sidelines. Become a Yabster, join the YAB family and be a part of a true social and economical experiment that aims to study human behavior.