Topic: MetaCode.World Multi-Sig Escrow Agreement and bounty management contract for ref (Read 248 times)

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MetaCode
Multi-Sig Escrow Agreement
MetaCode.World
==========================
Brief overview of the MetaCode.World token genesis event:
- - --------------------------------------------------------
 
# Planned utility token genesis event. Date of launch Mar. 22th, 2019. (beginning with system reliability phase). Main Token Genesis Event April 22, 2019 to May 24th, 2019.
 
# MetaCode is next-gen file sharing & data security protocol technology. The proposed MetaCode ERC20 Utility token is essential to the operation of the UI and online infrastructure of the MetaCode Engine. MetaCode online infrastructure uses decimal based code remote smart readers to handle data for distributed unassailable management. Hence, it is Ethereum blockchain based using 18 decimals for coded transactions on the system. (more info. Available at MetaCode.World)
 
# MetaCode token genesis event is intended to raise Ethereum for the purpose of establishing and advancing the MetaCode project toward dominance in the sphere of file sharing technology. Also, to create the sole means of using the technology (MetaCode Token) as primary functionality depends on code transmission via token transaction.
 
# MetaCode.World project is committed to using best practice throughout the token genesis event and beyond. With regard to the project, MetaCode will put forward every effort to ensure the safety and security of the technology and potential token holders who may participate in the token genesis event.
 
# Relevant to the above statement, MetaCode will offer tokens during the event with the following provisions:
 
- - - Tokens will be issued and immediately sent to contributors ERC20 wallet used to send Ethereum to the crowd sale address. This is handled by Oracles Proof of Authority contract.
 
- - - Built into the POA crowd sale contract is the receiving wallet address (where sent Ethereum is held)
 
- - - The receiving wallet is a (proposed) ERC20 Multi-Sig created for the sole purpose of the token genesis event.
 
- - - Multi-Sig wallet will be 2/2   with one signatory being the MetaCode team. The MetaCode team is the only authorized party allowed to submit transactions on the wallet.
 
- - - The other signatory will be selected from BitCoinTalk forum. High trust rating is essential for consideration for this position of authority. As the trusted member will act as Escrow service provider. Ensuring that ONLY bonafide transactions occur during and after the token genesis event.
 
- - - All Ethereum received will be locked in the Multi-Sig wallet until the conclusion of the crowd sale.
 
- - - The single largest contributor to the crowd sale determined by the single wallet address containing the largest amount of MetaCode token as shown on etherscan.io at the conclusion of the event will receive to that wallet address 1% of the ETH (rounded down to the nearest whole ETH) contained in the multi-sig at that time. Maximum of 9,000. ETH paid to a single wallet address.
 
- - - All tokens claimed by bounty hunters/bounty manager will be distributed upon completion of the crowd sale. Bounty manager will receive 10,000,000. MetaCode Tokens. Maximum of 1,000,000,000. tokens will be released to bounty manager for distribution to bounty hunters. Max total of 1,010,000,000.
 
- - - Bounty manager may offer ETH% signature bounty to limited participants. The total ETH for this is limited to 5% of the total ETH at crowd sale conclusion. The ETH for signature bounty will be released to bounty manager for distribution.
 
- - - All parties that are entitled to a percentage of the received Ethereum will be sent such by consensus permission of the signatory/escrow of the M-S wallet.
 
- - - Above referenced bounty manager %ETH payment in full. Set at 1% of total ETH held in Multi-Sig wallet at event conclusion.
 
- - - Multi-Sig wallet escrow signatory (trusted member) %ETH payment. Set at 2% of total ETH held in Multi-Sig wallet at event conclusion. Maximum 5000 ETH total. Divided into 5 parts, with 1/5th payable at token genesis event conclusion, 3/5th payable following burn event, 1/5th payable following beta release.
 
- - - MetaCode team will receive 20% of the total ETH to cover short term operational expenses.
 
- - - MetaCode team will arrange for exchange listing(s) at an appropriate
level and expense. This will require some Ethereum from the wallet as
many exchanges require payments for listing new tokens. The payments
can be made directly from the multi-sig wallet. So
the Ethereum will not have to pass through MetaCode teams hands for
this purpose. Ensuring that the funds are used to establish exchange
listings. Escrow signatory is required to authorize such transactions when satisfied that exchange listing(s) will result.
 
- - - 1,000,000,000 of 3,000,000,000 reserve tokens belonging to MetaCode will be released to MetaCode  for the purpose of testing and completion of the technology infrastructure/UI.
 
- - - A massive surplus of tokens will be created from the crowd sale (landing in the multi-sig) that will have the purpose of a ballast toward token value increase. The way this will work is that a huge amount of the tokens created during the crowd sale will be sent to a burn address in stages after an appropriate amount of time following exchange listing(s). With burn event beginning 10 to 20 days after first exchange listing and token genesis event conclusion.
 
- - - The total supply of the tokens will be drastically reduced
as a result, causing a supply drop shift in token value. This should
create a stir in the exchanges gaining lots of attention toward the
token. (always good to appear in the top 10 of trending tokens gaining
value). The burns shall happen in stages ( 1/14th of 14 trillion tokens at a time approximately every 1 to 2 days over 14 to 28 days).
 
- - - The remainder of the Ethereum will be released to MetaCode team. (at least 1 exchange listing must be established) And minimum 14,000,000,000,000. Tokens must be burned after exchange listing for MetaCode to claim the balance of Ethereum in the Multi-Sig token genesis event wallet).
 
- - - Only after the exchange listing(s) AND the burn of at least 14,000,000,000,000. tokens will half of the remaining reserve portion of tokens (belonging to MetaCode) be released to the MetaCode team. (1,000,000,000. Tokens)
 
- - - The other half of the reserve tokens will be held back (remaining in
the multi-sig) until after the bare bones MetaCode Engine User
Interface (beta) is released.
 
- - - One minor concern of course is that less technically adept potential
participants in the crowd sale may not fully understand the high level
of protection that is built into the system as described.
 
- - - So, the crowd sale will be set to allow token purchase
ahead of the official launch date. At a HIGHER price. Then potential
participants can send a small amount of Ether to the crowd sale
address and instantly receive tokens proving that the system is set up
as promised. Etherscan.io can be used to check that the Ethereum goes to
the proper multi-sig. That way the reliability of the assurances and
protections can be easily tested and demonstrated. This is called system reliability phase.
 
 
Exact details of token genesis event:
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#ERC20 Utility Token
 
# Token Name: MetaCode
 
# Ticker: MTACD
 
# Total availability for distribution during token genesis event (including system reliability phase): 10,200,001,000.
 
# Reserve for MetaCode: 3,000,000,000. tokens
 
# Reserve for Bounty: 1,000,000,000. tokens (any unused bounty reserve to be burned)
 
# Reserve for Bounty Manager: 10,000,000. tokens
 
# Available for system reliability phase: 1000. tokens
 
# Reserve for burn event as detailed above: 14,000,000,000,000. tokens
 
# Total maximum tokens to exist pre-burn: 14,014,210,001,000.
 
# Total maximum tokens to exist after burn: 14,210,001,000.
 
# Start date of system reliability phase of token genesis event: March 10, 2019 (on or about).
 
# End date of system reliability phase: April 10, 2019
 
# System reliability phase token price: 0.1 Ethereum per token (meant to discourage mass purchase during this phase). Potential token genesis event participants are asked to acquire only a single token (or less) during this phase and only for system reliability demonstration purpose.
 
# Start date of post system reliability phase of ICO (Main Token Genesis Event): April 10, 2019
 
# End date of Main Token Genesis Event: May 12, 2019
 
# Main Token Genesis Event token base price: 0.0001 Ethereum per token (10,000. Tokens/ETH)
 
# Main Token Genesis Event will include a bonus tier (+20% tokens limited to 200,000,000. Bonus tokens on 1,000,000,000. limited supply during bonus tier and for a limited time only).
 
# Important note: POA Token Genesis Event creates tokens at point of purchase. Therefor any unclaimed tokens available for distribution will not be created.
 
# Pandoras box ?: NO. Token Genesis Event is unchangeable. No modifications can be made. And no future tokens can be minted post event.
 
# In the unlikely event that any fork occurs while ETH is held in the Multi-Sig wallet, all forked coins that may be held in the multi-sig wallet will be the exclusive property of MetaCode. And must be released to MetaCode upon request. MetaCode may at MetaCode’s sole discretion, distribute forked coins by a fair and equitable formula to be determined by MetaCode. Or donated to charity.
 
# The designated escrow signatory (trusted member). Agrees to uphold the rules set out in this document. When each condition is met, then MetaCode will submit for transaction approval the appropriate transaction according to the rules of this document. The escrow signatory MUST NOT allow any transaction that does not follow the rules and conditions set out in this document. And MUST allow any transaction submitted by MetaCode that adheres to the rules and conditions set out in this document.
 
Note*: All dates and timeframes are (on or about). Some degree of flexibility is allowed with regard to estimated dates and times to allow for delays in communication etc. And in case of unforeseeable circumstances.
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Condition #1: The conclusion of the crowd sale. As of (date/time) the crowd sale will be concluded and condition #1 will have been met.
Condition #1 transaction(s) in order:
 
# The single largest contributor to the crowd sale determined by the single wallet address containing the largest amount of MetaCode token as shown on etherscan.io at the conclusion of the ICO will receive to that wallet address 1% of the ETH (rounded down to the nearest whole ETH) contained in the multi-sig at that time. Maximum of 9,000. ETH.
 
# Bounty manager will receive 10,000,000. MetaCode Tokens for performing service. And a maximum of 1,000,000,000. tokens will be released to bounty manager for distribution to bounty hunters.
 
# Maximum 5%ETH released to bounty manager to pay signature bounty participants.
 
# Bounty manager %ETH payment in full. Set at 1% of total ETH held in Multi-Sig wallet at event conclusion. (rounded down to nearest whole ETH).
 
# Multi-Sig wallet escrow signatory (trusted member) %ETH payment of 1/5th of the total escrow payment amount that is 2% of total ETH held in Multi-Sig wallet at event conclusion (Max. 5000 ETH divided into 3 payments). Escrow signatory payment at token genesis event conclusion (condition #1) is: 2% of total ETH at event conclusion capped at 5000 ETH divided by 5 = first of 3 escrow signatory payments. First escrow signatory payment not to exceed 1000 ETH. (Payment is rounded down to nearest whole ETH).
 
# MetaCode will receive 20% of the total ETH contained in the multi-sig wallet (rounded down to the nearest whole ETH) to cover short term operational and other expenses.
 
# 1,000,000,000 of 3,000,000,000 reserve tokens belonging to MetaCode will be released to MetaCode  for the purpose of testing and completion of the technology infrastructure/UI.
 
# Arranged token listing(s) on exchange(s) may be put forward by MetaCode. Verified payment for exchange listing(s) may be submitted by MetaCode to exchange address for this purpose. Escrow signatory may request verifiable evidence of validity before authorizing such transactions.
 
 
Condition #2: Minimum of 1 exchange listing of MetaCode token.
Condition #2 transaction(s) in order:
 
# 10 to 20 days following 1st exchange listing and end of token genesis event, the “Burn Event” will be initiated. A total of 14,000,000,000,000. MetaCode tokens will be burned as follows: 1 trillion tokens sent to burn address approximately Every 24 to 48 hours until 14 trillion tokens are burned (destroyed).
 
Condition #3: Minimum of 1 exchange listing and minimum 14 trillion tokens burned.
Condition #3 transactions:
 
# The remaining Ethereum (rounded down to nearest whole ETH) less 4/5th of the total escrow signatory payment amount (rounded down to the nearest whole ETH) held in the Multi-sig  wallet shall be released to MetaCode. Sufficient ETH must remain in multi-sig to cover remaining escrow signatory payments and to cover transaction costs (GAS) for remaining wallet transactions.
 
# 1,000,000,000. Tokens released to MetaCode.
 
# Multi-Sig escrow signatory payment of 3/5th of the total escrow signatory payment amount rounded down to nearest whole ETH.  (Total escrow signatory amount is 2% of ETH in multi-sig at end of event Max. 5000 ETH.) Condition #3 escrow signatory payment is 3/5th of total escrow signatory amount. Condition #3 escrow signatory payment amount not to exceed 3000 ETH.
 
Condition #4: Bare bones MetaCode user interface (beta) is released.
Condition #4 transaction: 1,000,000,000. Tokens released to MetaCode.
 
# Escrow signatory final payment of 1/5th total escrow signatory payment amount. Not to exceed 1000 ETH.
 
# Final transaction: Any remaining funds in multi-sig (less gas) will be donated to charity at the sole discretion of the escrow signatory as directed by the escrow signatory.
 
# The above detailed safeguards guarantee total transparency and security. Ensuring that MetaCode Token Genesis Event is safe and reliable. Maximizing potential MetaCode token holder benefit.
 
MetaCode.World Team
 
Bounty Manager: inPRIVACYweBELIEVE https://bitcointalksearch.org/user/inprivacywebelieve-2295681
 
Signed by MetaCode https://bitcointalk.org/index.php?action=profile;u=2498862
March 08, 2019, 10:39:28 PM
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