Topic: [ANN][ORBI] Orbicular - An Introduction to a Durable and Unique Asset Class (Read 276 times)
September 08, 2020, 03:40:00 AM
Excellent work!
September 07, 2020, 04:00:50 PM
Orbicular
Etherscan: https://etherscan.io/token/0x11A2Ab94adE17e96197C78f9D5f057332a19a0b9
Website: orbicular.io
Twitter: https://twitter.com/CryptoOrbicular
Telegram: t.me/OfficialOrbicular
Whitepaper: orbicular.io/whitepaper
There is an AMA archive that has valuable questions and developer answers also located on the orbicular.io website.
Developer's liquidity is locked. Link to the lock as well as a detailed description of token distribution can be found in the whitepaper and on the website.
Circulating supply as well as a real-time chart showing where Orbicular is in the rebase cycle can be found on the orbicular.io website, in the $ORBI section.
There is a roadmap on the website as well.
What is Orbicular?
Orbicular is an ERC20 token with a supply that changes, through rebases, according to a sine wave with a period of two weeks. A week of rising supply will be followed by a week of falling supply, and vice versa. This pattern continues forever.
Why is that useful/important/interesting?
Rebases can also be seen as "arbitrage events". Because there is an instant supply change across all holders, and no instant price change (e.g. on an exchange such as Uniswap), the value of tokens held changes very suddenly. Arbitrageurs can take advantage of this by trading around these "arbitrage events" to keep the value of each token at a stable level. An extreme example is the following: Person A holds 10 tokens at a value of $1. A rebase occurs bringing Person A's token count to 20 tokens. In the moment the rebase occurs, Person A's tokens are still worth $1. Person A may feel encouraged to sell the "extra value" they obtained via rebase since the value of their tokens instantaneously jumped from $10 to $20. Thus, a rebase can be seen as an incentive to trade. On top of this idea, there is now a potentially predictable trading pattern caused by arbitrageurs. Other traders or market makers could take advantage of this predictable trading behavior, increasing further the incentive to trade. Increases in trading can then bring about an increase in value for liquidity holders. Testing of the token showed that those gaining value through arbitrage aren't gaining value from nothing, but from those holding liquidity. This creates a circular pattern of value from liquidity holders to arbitrageurs to traders and back again.
Because of the above, or at least due to the potential of the above's effects, Orbicular (and as a result, any other token utilizing rebases) has the ability to be have drastically different trading patterns than other tokens. Other rebasing tokens have claimed this effect or at least part of this effect as a benefit, as well.
So what makes Orbicular unique? Why does it stand out from other rebasing tokens?
Realising the positive effects that can be gained from rebases, Orbicular was designed to have two main advantages over existing rebase-utilizing tokens:
1) Orbicular's rebases are very predictable. If a rebase cannot be easily predicted, then it is only easy for automated scripts or machines to trade around a rebase. It makes for more fair trading, and better opportunities, if rebases are predictable so that the odds aren't skewed even more heavily in favor of automated scripts or machines traders.
2) Orbicular's rebases will continue FOREVER. It seems logical that if a rebase can have positive effects in regards to trading incentive and uniqueness in trading behavior, one would want their rebase mechanism to never fail or diminish. Other rebasing tokens have rebases that are inherently limited, or are designed to have diminished effects as time goes on, or have rebases pegged to price changes, which, if price was to not change for some reason, the positive effects of a rebase will never be seen. Other issues are the supply of a rebasing token possibly inflating to infinity (or some pre-coded hard cap), or supply reducing to zero (or some pre-coded hard floor), at which point, rebases, along with their positive effects, will cease completely.
Orbicular would then be not only a unique asset due to the uniqueness of its rebasing mechanism, but it would be a durable asset, because the uniqueness of its rebasing mechanism does not falter in the face of time or price changes (or a lack thereof).
A nice side effect to the rebasing mechanism is that one can never start "losing" tokens, or see an ever-increasing "gain" of tokens. Because the supply is changed cyclically, you should always have the same amount of tokens at least once every two weeks, not counting if one were to purchase or sell their tokens.
Exact mechanics/Tokenomics?
The starting supply of tokens for Orbicular is 100,000,000 tokens. The supply change cycle follows the below formula:
Supply = Initial_Total_Supply + Initial_Total_Supply * sine((unix_time_EST - 1597950000) * 2 * pi / 1209600) / 10
A simpler explanation is that the supply oscillates around 100,000,000 by about a 10% change, so the supply will always be in a range between 90,000,000 and 110,000,000 tokens. Rebases occur at approximately 7PM EST every day.
Etherscan: https://etherscan.io/token/0x11A2Ab94adE17e96197C78f9D5f057332a19a0b9
Website: orbicular.io
Twitter: https://twitter.com/CryptoOrbicular
Telegram: t.me/OfficialOrbicular
Whitepaper: orbicular.io/whitepaper
There is an AMA archive that has valuable questions and developer answers also located on the orbicular.io website.
Developer's liquidity is locked. Link to the lock as well as a detailed description of token distribution can be found in the whitepaper and on the website.
Circulating supply as well as a real-time chart showing where Orbicular is in the rebase cycle can be found on the orbicular.io website, in the $ORBI section.
There is a roadmap on the website as well.
What is Orbicular?
Orbicular is an ERC20 token with a supply that changes, through rebases, according to a sine wave with a period of two weeks. A week of rising supply will be followed by a week of falling supply, and vice versa. This pattern continues forever.
Why is that useful/important/interesting?
Rebases can also be seen as "arbitrage events". Because there is an instant supply change across all holders, and no instant price change (e.g. on an exchange such as Uniswap), the value of tokens held changes very suddenly. Arbitrageurs can take advantage of this by trading around these "arbitrage events" to keep the value of each token at a stable level. An extreme example is the following: Person A holds 10 tokens at a value of $1. A rebase occurs bringing Person A's token count to 20 tokens. In the moment the rebase occurs, Person A's tokens are still worth $1. Person A may feel encouraged to sell the "extra value" they obtained via rebase since the value of their tokens instantaneously jumped from $10 to $20. Thus, a rebase can be seen as an incentive to trade. On top of this idea, there is now a potentially predictable trading pattern caused by arbitrageurs. Other traders or market makers could take advantage of this predictable trading behavior, increasing further the incentive to trade. Increases in trading can then bring about an increase in value for liquidity holders. Testing of the token showed that those gaining value through arbitrage aren't gaining value from nothing, but from those holding liquidity. This creates a circular pattern of value from liquidity holders to arbitrageurs to traders and back again.
Because of the above, or at least due to the potential of the above's effects, Orbicular (and as a result, any other token utilizing rebases) has the ability to be have drastically different trading patterns than other tokens. Other rebasing tokens have claimed this effect or at least part of this effect as a benefit, as well.
So what makes Orbicular unique? Why does it stand out from other rebasing tokens?
Realising the positive effects that can be gained from rebases, Orbicular was designed to have two main advantages over existing rebase-utilizing tokens:
1) Orbicular's rebases are very predictable. If a rebase cannot be easily predicted, then it is only easy for automated scripts or machines to trade around a rebase. It makes for more fair trading, and better opportunities, if rebases are predictable so that the odds aren't skewed even more heavily in favor of automated scripts or machines traders.
2) Orbicular's rebases will continue FOREVER. It seems logical that if a rebase can have positive effects in regards to trading incentive and uniqueness in trading behavior, one would want their rebase mechanism to never fail or diminish. Other rebasing tokens have rebases that are inherently limited, or are designed to have diminished effects as time goes on, or have rebases pegged to price changes, which, if price was to not change for some reason, the positive effects of a rebase will never be seen. Other issues are the supply of a rebasing token possibly inflating to infinity (or some pre-coded hard cap), or supply reducing to zero (or some pre-coded hard floor), at which point, rebases, along with their positive effects, will cease completely.
Orbicular would then be not only a unique asset due to the uniqueness of its rebasing mechanism, but it would be a durable asset, because the uniqueness of its rebasing mechanism does not falter in the face of time or price changes (or a lack thereof).
A nice side effect to the rebasing mechanism is that one can never start "losing" tokens, or see an ever-increasing "gain" of tokens. Because the supply is changed cyclically, you should always have the same amount of tokens at least once every two weeks, not counting if one were to purchase or sell their tokens.
Exact mechanics/Tokenomics?
The starting supply of tokens for Orbicular is 100,000,000 tokens. The supply change cycle follows the below formula:
Supply = Initial_Total_Supply + Initial_Total_Supply * sine((unix_time_EST - 1597950000) * 2 * pi / 1209600) / 10
A simpler explanation is that the supply oscillates around 100,000,000 by about a 10% change, so the supply will always be in a range between 90,000,000 and 110,000,000 tokens. Rebases occur at approximately 7PM EST every day.
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