Re-thinking a tokenised economy
Thanks for the feedback for the first part of hubii core that we released as an alpha 10 days back( https://medium.com/@jacobotoll/hubii-core-wallet-feature-now-live-for-testing-745f1cb986d4 ). Now, as promised, more about the tokenised economy of hubii core. hubii core will not only be a wallet manager and exchange, it will also be a peer-to-peer payment solution.
When we wrote our white paper last summer, we anticipated that we would need robust and performant infrastructure for our tools to work;
By replacing the middlemen with an efficient infrastructure, content creators earn more, distributors pay less and consumers have more choices. Smart contracts and ‘smart crowdfunding’, all using our native cryptocurrency, Hubiits, will shape the content industry of the future.
Even as 2017 drew to a close, we expected to be able to use tools in the market to achieve our ultimate goal of delivering a vibrant content ecosystem. We engaged with potential strategic technology partners and discussed ways to leverage their existing work to reduce implementation times;
To accelerate wide adoption and integration of Hubii Network we will foster openness of our platform by providing RESTful API’s to the community of developers. Equally we will integrate with the best suppliers of various different decentralised technologies such as e-wallets and decentralised storage solutions; We do not see value in reinventing the wheel; we want to begin to change the world at the platform level first.
Whilst Hubii will continue to work with others in the industry to adapt and incorporate the best solutions available at any given point in time, we did not succeed at finding a suitably mature solution to build upon. Consequently Hubii AS, the parent company of Hubii Pte Ltd, agreed to sponsor and build the infrastructure needed.
Within hubii core, both the exchange and payments, are built upon striim, our Ethereum scaling solution. Striim is a necessary piece of the hubii puzzle; it will enable seamless payments between content owners and content distributors. However, it will have ramifications beyond the hubii ecosystem and will hopefully be leveraged by many other platforms.
Next week, our website will be updated to reflect a refreshed roadmap. We will continue to work in an agile way and seize upon opportunities to develop our ecosystem, as such some deliverables will be brought forward, some will be pushed back.
The token economy
Striim will be a community driven solution which will be tokenised. However, there will be no token sale.
120 billion tokens will be created and air-dropped over a 10 year period. 100% of striim’s revenue will be distributed to the token holders and the community of protocol facilitators. The revenue will be obtained from transactions happening within hubii core’s exchange and payment system. Though this project was not described in the white paper and was sponsored by Hubii AS, we recognise our existing hubii community and as such the token split for each monthly airdrop will be as follows:
- 50% proportionally to HBT token holders (including any HBT on deposit within hubii core)
- 20% proportionally to Ethereum holders that register or deposit in hubii core
- 20% to a strategic growth fund
- 10% to key partners in this endeavour
Over the coming weeks, as we reveal the architecture of striim, we anticipate that people will realise striim is an alternative Ethereum scaling solution. We foresee striim will begin to be spoken about in the same breath as Raiden and Plasma.