Happy Distribution Day, Anatha Community!
When we developed the idea for Anatha in 2017, we recognized that the current economic system was designed to operate as it always has — centralizing wealth in the hands of a few, fomenting global poverty, perpetuating war — and it was time to create a new one.
In 2020, poverty in the U.S. fell to 9.1 percent — the lowest rate on record — after accounting for government aid during the pandemic. Nearly 8.5 million people were lifted out of poverty. Well before COVID-19 ravaged the world, Universal Basic Income was being piloted in various forms across the U.S. and the impact of last year’s federal stimulus checks proved that universal monetary aid dramatically changes lives. But the US government’s model involved printing so much new money that the value of the stimulus checks was driven down in their very creation. Which is why, at Anatha, we have a different approach to UBI: a bottom-up basic income generated by individual participants’ activity.
While monumental, pandemic-related aid was by no means a perfect solution to addressing poverty: stimulus checks were paid out disproportionately to large corporations and distribution to many Americans was costly and inefficient.
Enter Anatha: By changing the narrative around traditional financial structures, we are building a system that produces a deep social and economic charge for everyone. Through decentralization and crypto, we are able to distribute real, spendable value to people.
As of today, October 1st, the Torus — the network mechanism that returns value back to participants — is unlocked and participants will be able to claim more than $10 million of ANATHA Tokens in Rewards earned, making the concept of universal basic income a reality to the Anatha community. Earlier this year, $ANATHA’s token sale was among the first to accept debit and credit cards on Simplex.
The Anatha Torus is a protocol layer mechanism that continuously and automatically returns value generated on the network — transaction fees, HRA (@name) registrations, even 50% of inflation — to community participants. That value has been accumulating since our mainnet launch on October 1, 2020 and will be distributed to all HRA holders (those who’ve registered an @name to send and receive tokens) on October 1, 2021. After that, Torus rewards will be distributed continuously. Why did we build our network this way? Because we believe that if you create the value, you should share in that value.
At Anatha, we’re committed to the long-term value of cryptocurrency. Unlocking the Torus is just the beginning. You can keep track of the distributed ANATHA rewards on our website.
