Introduction to $AN Token Community-Driven Deflationary Economy.

AN Social Authenticity Network
3 min readApr 3, 2024

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The $AN token is a deflationary cryptographic asset designed to be the backbone of AN Social Authenticity Network, facilitating in-app payments, rewards, and staking. Created by the Authentica Foundation. $AN token total supply is 100 billion, minted on the Binance Smart Chain. $AN is a multichain cryptographic asset that utilizes the Wormhole relayer implementation to support interoperability and scalability across leading L1 & L2 EVM compatible blockchains. $AN multichain design offers holders convenient accessibility, secure and user friendly interchain transactions.

Deflationary Mechanism

The $AN token contract integrates a sophisticated programmable burn function, pivotal for its deflationary mechanism. Inspired by successful crypto assets like SHIB, $AN token burn function is designed to systematically reduce the total supply, enhancing scarcity and potentially increasing its value over time.

Community-Driven Burn Mechanism

Authentica Foundation will employ scheduled burns to methodically decrease supply of $AN token, burn parameters to be set by the Authentica Foundation but influenced by community consensus.

Decentralized Voting on Burns

Holders of $AN tokens and MFAN (Many Faces of AN) NFTs can vote on burn specifics, including the burn rate and the quantity to be burned, 30 days prior to each event via Authentica Foundation DAO on Snapshot. This ensures the token’s deflationary path is democratically chosen by its community, reflecting the Authentica Foundation’s commitment to decentralized governance.

Safe Zones

Recognizing the importance of maintaining a healthy circulating supply, specific zones within the $AN Token economy will be exempt from the burn mechanism, such as:

  • Liquidity Pools on DEXs: Essential for enabling seamless trades and liquidity provision.
  • Staking Pools: Encourage network participation and reward $AN token holders.
  • Rewards Pools: Guaranteeing a continuous incentive for contributors to the AN Social Authenticity Network.

The determination of these safe zones will be carefully managed by the Authentica Foundation, with proposals for safe zones being part of the governance voting process.

Role of the Authentica Foundation

Authentica Foundation is the creator and steward of the $AN token and is instrumental in guiding the token’s strategic development. It ensures that the tokenomics align with the broader goals of the AN Social Authenticity Network services, advocating for transparency, sustainability, and community engagement. Further details on the foundation’s vision, mission, and operational principles can be found in the AN Social Authenticity Network whitepaper.

$AN Token Use Cases within AN Social Authenticity Network

The utility of the $AN Token extends across various functionalities within the AN Social Authenticity Network:

  • In-app Payments and Rewards: Users can leverage $AN tokens for transactions and receiving rewards within the network.
  • Staking: Token holders have opportunities to stake their tokens, contributing to network security and earning rewards.
  • Decentralized Governance: Empowers token holders with voting rights on key decisions, including token burns and project developments.

Conclusion

By integrating deflationary mechanisms and community-driven governance, supported by the Authentica Foundation’s vision, the $AN Token is set to become a pivotal asset within the online social media and blockchain economies. It promises not only to power the AN Social Authenticity Network but also to establish a sustainable, engaging ecosystem for users worldwide, supporting growth, authenticity, and social engagement across the web3-web2 social media scape.

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AN Social Authenticity Network

AANN.ai Lab is building a first-of-its-kind AI-Powered Social Authenticity Network "AN" where trust is not the exception but the norm!