Taking a Deep Dive into the token economics of HorusPay
HORUS token’s utility comes in three forms:
Access: Each HORUS token represents an employee in a company. Each company utilizing the HorusPay platform will be required to have as many HORUS tokens as they do employees. These tokens will act as an access key to the HorusPay portal.
Payroll storage: Besides access to the portal, the Horus token grants the users an allocated amount of data storage on the network. For example, if a total of 1200 gigabytes of payroll storage is allocated to the network, the network will then guarantee 1 kilobyte of payroll storage per token holder when tokens are staked. Users will be able to lease their tokens to companies not wanting to make the lifetime investment or who only want to use our portal temporarily. An additional 100 gigabytes of data will be tradable in a Bancor protocol for those users who need additional data space.
Staking: The Horus token will generate another cryptocurrency called the Horus Dollar ($H) when staked, at a 0.1 % per month. This will help to facilitate companies in compensating local payroll vendors for payroll services, and to pay their employees.
*Temporarily this staking percentage will be increased to 1% for those who stake 1 million or more Horus tokens until a full working Beta version of the platform is released.
eosCASH (ECASH) use case:
In order to make international payroll disbursements with cryptocurrency a reality. We will need a reliable and stable cryptocurrency (one that is free of volatility). To make the eosCASH (ECASH) a stable asset, we will have an EOS reserve, this reserve will back the value of the eosCASH (ECASH), and through this will be pegged to the USD. This EOS reserve account will be publicly known. In addition, it will contain a smart contract that will allow users to call out EOS funds by sending in ECASH. Although we would like users to be able to freely interact with the EOS reserve via smart contracts, the reserve should exclusively back up the value of ECASH, and not be used as a trading tool. So, to discourage day traders from hedging against the reserve, we will add a delay that will spread the EOS release over a 10-day period. Therefore, once ECASH is sent to the smart contract, you will then receive 10% of your total EOS back daily until the full amount is disbursed (and the 10-day period reaches completion). Initially, ECASH will trade freely and unpegged on the open market until the EOS reserve is strong enough to back up the circulating supply. We will not peg the value of ECASH to USD while it trades at a value over $1 USD.
Legal Disclaimer: In order to facilitate the eosCASH (ECASH), HorusPay writes a smart contract code that backs ECASH to an EOS Reserve. We cannot guarantee that the EOS reserve will actually be deployed, work as intended, or that ECASH will ever have any financial value. The intent is for eosCASH (ECASH) to be pegged to the price of $1 USD and to help our users interact with the HorusPay platform without the concern of price fluctuations. They are not intended for speculative investment. This technology, while potentially revolutionary, is still in an early developmental stage and we want to make sure our community members understand the risks associated with their participation.