ARCC Token Economic Structure
Updated January 6, 2021
ARCC is an Algorand Standard Asset (ASA) token and was the first official ASA launched on the Algorand protocol. This makes ARCC a second layer token created by a smart contract on the Algorand pure-proof-of-stake network (algorand.com). The International Blockchain Monetary Reserve, IBMR.io is the issuer. IBMR.io is a microfinance economic development agency focused on technological solutions for direct individual aid.
https://www.algorand.com/resources/news/the-international-blockchain-monetary-reserve-ibmr.io
ARCC is the microfinance ecosystem coin of ARCC.one, a microfinance and decentralized information platform for emerging markets.
Full Name: Asia Reserve Currency Coin
Ticker: ARCC
Listed: Biki.com, MESE.io
Protocol: ASA (Algorand Standard Asset) Token
Remarks: ARCC was the first officially recognized ASA token on the Algorand platform
https://algoexplorer.io/asset/163650
Total Mint: 88,616,203,378.51 ARCC
Creator Account: https://algoexplorer.io/address/ARCC3TMGVD7KXY7GYTE7U5XXUJXFRD2SXLAWRV57XJ6HWHRR37GNGNMPSY
Note: The Algorand Standard Asset Token structure does not allow for the creation of a new supply, so the total supply had to be minted at the time of creation. This 88B in tokens represents an 80-year minting schedule after the establishment of the ARCC.one platform.
Circulating Supply: 888,888,888.00 ARCC
Note: This is the current total circulating supply of ARCC and serves as its total active supply and will be the total supply until the Social Proof of Work pool of 222,222,222.00 (25% current circulating supply of 888,888,888) is exhausted. We estimate this to be 24 months from the launch of ARCC.one (expected date for launch Feb 2021).
1. Allocation of 888,888,888 Circulating Supply:
Notes:
1. All legal agreements on vesting schedules & terms have the following terms:
a. 1st rights of refusal back to IBMR.io
b. No more than 10% per day release after locking/vesting period ends
2. Founders and Operational Investment Fund legal agreement terms:
a. Locked for 3 years from date of first listing, or,
b. 2 years from date of ARCC.one launch, or,
c. Listing on 5 major exchanges in the top 10, 10M USD of actual trading volume
3. ARCC Reserve ALGO Funders, Strategic Operational Partners:
a. Locked from 1 year of listing
b. Mutually agreed to coordinate with the criteria of listing on 5 major exchanges in the top 10, 10M USD of actual trading volume for release into the market
4. Developer, Staff and Advisor Pools:
a. Listing on 5 major exchanges in the top 10, 10M USD of actual trading volume, or,
b. 2 years from date of ARCC.one launch; whichever is first.
5. ARCC Reserve Holdings will be deployed through an open Dutch auction on ARCC.io after ARCC.one has launched.
2. ARCC Inflation New Supply Release Schedule:
The ARCC Inflation Schedule will be 7% of the current total circulation supply and will run for 67 years.
888,888,888 ARCC with 7% Annual Rate
Remarks:
7% was decided upon as a constant that represented growth but not an unmanageable increase of supply.
For reference, Bitcoin’s annual supply inflation was 3.65% pre-May 2020 halving and now stands at 1.8%.
Most central banks’ currency supply was about 2% pre-2008 financial crisis. As an extreme example due to quantitative easing, the 2020 US money supply has exceeded 23% historical supply.
3. Use of Funds for Inflation New ARCC Supply
For Example: YEAR 1
7% increase of 888,888,888 = 62,222,222.16 ARCC
Remarks:
50% of the 7% new supply is allocated to the Social Proof of Work Pool, with another 10% going towards staking pools as a form of interest for existing ARCC holders — totaling 60% for community/ecosystem growth initiatives.
Thus, really only 2.8% of the new supply will directly end up in the secondary markets through operational and software development spend and the actions by the ARCC Reserve.
The disbursement of the new supply would be manually approved and executed by our custody providers, Custody Digital Group, https://custodydigital.com/.
After year 5, the disbursement will be on a set schedule and dictated by a smart contract holding all of the remaining supply.
4. Governance Schedule:
ARCC Reserve will move to an open distributed governance model over a period of 3 years from Year 5–8.
This will be done through three levels of governance, on the executive, council and general ARCC holder level.
Please note: This document is subject to change before the final distribution of all current circulating supply of 888,888,888 ARCC.
