What is the NEW Autoria?
Autoria is a decentralized token built on the Ethereum blockchain platform utilizing a Proof of ETH mining node registration to deploy AUT tokens according to a mathematically rigorous supply-curve modeled algorithm. Autoria’s unique “automatic mining technology” is our team’s first foray into customizable token deployments and will serve as a model for designing token distributions in future ventures. Autoria serves as an important stepping stone towards our team’s larger Ethereum venture, Hadron, a service which will help facilitate enterprise level development, deployment, and management of virtual assets on private blockchain.
How to Participate?
On August 10th, our smart contract will be made available on our website. At that time, anybody can participate by “proving their ETH”. Participants will send ETH to the designated smart contract, which will then register the ETH wallet used in the submission process with an AUT stake proportional to the the ETH submitted. The ETH will then be automatically refunded by the smart-contract less the transaction gas cost. A maximum of 100 ETH per ETH wallet is hard-coded into the smart contract. We ask that participants refrain from submitting using multiple ETH addresses. Autoria mining well registration will close on August 31st.
What’s Our Plan?
What Happens to the ETH I stake?
The ETH will be sent back to the msg.sender in the smart contract, so it simulates the proof of stake based on how much ETH you send to it. The sender just pays for gas costs on the network. The get their ETH back and AUT in a single transaction. The contract will be open sourced to verify this behavior.
What about your previous bounty?
All participants have been officially recorded and will be carried over to project Hadron. Thank you for your participation!
Why no ICO?
Our team decided to go with a proof of ETH deployment in order to maximize community involvement and avoid conflicts of interest. By providing our token through a Proof of ETH model, we are supporting the ownership of ETH during these volatile times.
When will Hadron come out?
We will be announcing more information surrounding project Hadron in the coming weeks. Stay tuned to the Autoria social media sites like twitter for more information.
We look forward to continuing to evolve Autoria, with your support!