What is the Rainmaker Contract?
In P3C.io you may hear of the Rainmaker contract. The Rainmaker contract sets a mathematically guaranteed floor price for the price of P3C.
Q: What is it?
A: It’s a smart contract located (here) on the Ethereum Classic Blockchain. Because of the way Ethereum works, a smart contract is the same as a user. So the Rainmaker was launched and given 50,000 P3C (currently worth $2,445 USD). Those P3C earn dividends from every buys and sell in ecosystem, like all other P3C holders. The Rainmaker contract has a function called reinvest() that will take all of those dividends, and buy more P3C with them! The Rainmaker can never sell, or give away it’s P3C. It is locked forever.
This has been called hundreds of times already and this feedback loop has caused the Rainmaker to now have 55,422.7 P3C. This is the same P3C that is held by all other users. When you interact with the Rainmaker, you can put your Crop address as a parameter and receive 3% of the funds being invested from the Rainmaker as a bonus for calling it. A thank you from the community.
Q: Why is this important?
A: Think of Rainmaker as the guaranteed floor price of P3C — you know that no matter what happens, if every other holder were to sell, the Rainmaker smart contract will always hold its tokens. In fact, because of the way P3C is designed, if a lot of people sell at once (a panic), the Rainmaker earns a lot of dividends and reinvests, which gives it more tokens and a greater share of future dividends. If the contract grows again, the Rainmaker will have a much larger portion of P3C than it did at the beginning. This makes P3C an antifragile system — the more damage it takes the stronger it becomes.
Q: How do I get the bonus?
A: To use the Rainmaker, go to P3C.io/farmer.html and click “Activate Rainmaker” with your Saturn logged in. You should see the amount of P3C help by the Rainmaker go up. We are also automatically tracking the Rainmaker on our servers and activating it when it is profitable for us to do so.