Dear Jokers:
This is a letter from JOKER.ONE. After the reading, you will understand us better with a clearer vision.
Welcome to join the world of JOKER.ONE!
After nearly a year of efforts, on May 22, 2020, JOKER.ONE team carried out the complete blueprint, and the ship of the great work kicked off on the day. The project gathers the wisdom and painstaking efforts of the team. It’s brand new models of economy and finance that we’ll show the world. JOKER.ONE’s vision is to redefine the attributes of coinage, redefine the dApp ecology, and redefine democracy and freedom.
Why Do We Choose EOSIO As The Major Track For JOKER.ONE?
This problem really racked the team’s brains out. Maybe we have no other better choice, as EOSIO is able meet all our current requirements.
Compared with Ethereum, although the community building and developer team size of EOSIO is relatively weak, the high gas cost of Ethereum really puts us in a dilemma. When in network congestion, it requires a a transaction fee of up to hundreds of dollars, which is almost unacceptable for small-fund investors. However in DeFi games, you need to call the contract and make authorizations frequently, which almost slams the door on the small-fund investors. We believe that DeFi should not be the game for a small group of people, but a universal event that tolerates any investor. We think this part of the backbone power shouldn’t be shut out of the door. The public chain is underlying soil for the field of crypto, and the ecological builders and participants play the role the life to the soil. No matter how poor the soil may be, we firmly believe that brilliant flowers could be bloomed from it.
The defects of other public chains lie whether in poor performance or undue centralization. So we chose EOSIO system. In order to further lower the threshold, we even allow all our dApps with 0 CPU that all resource consumption is borne by JOKER.ONE.
Of course, the most important issue we’ll engage ourselves in is about the open-source codes, the smart contract audit and the multi signature.
The New Attribute of Coinage
How is the financial market maintained? It’s by the faith. However, in the era of blockchain, information asymmetry has spawned more darkness, more gold diggers, fraudsters, and speculators. The development of the industry will inevitably be accompanied by more sacrifices and baptisms. This is a natural law not determined by human will.
We have always been thinking about the future of crypto. As it has experienced the evolutions (coinage) of PoW, PoS, DPoS and ICO, we wonder how will the token develop in the future? How to balance the profit distribution among the founders, the participants, the supporters, and the miners?
In this part, let’s discuss about the miners. We are not claiming that JOKER will be the mainstream form of future token, but it’ll doubtlessly benefit the miners in the most friendly way.
Over the past, the founders enjoyed obvious advantages over the crypto creation that they could sell the crypto token at very low prices in the market(I won’t describe details in this part), or increase the size of the developer team who will buy the hardwares to mine the token. All in all, most tokens have the potential of inflation, which covers the interests of miners and founders. Of course, the contrary result brings a happy ending to all parties.
But here, a problem occurs: How to balance it? As the there’s always a time cycle, how to keep a complete figure in the trough and stay in a permanent boom?
JOKER POOL may solve this problem. As the creator of JOKER.ONE, we in fact never take the “founder advantage”, because every JOKER token is generated through the smart contract. The smart contracts are open sourced, while the auditing and multi-signing ensure that JOKER is only managed by the protocol, instead of any human factors. This is the premise.
As a miner, how can you mine JOKER and make profits? Remember, we’ll never sell you any low-price JOKER, nor will we make you buy any hardwares, but to provide the JOKER POOL to mine your own JOKER. What’s the most important is that you can always take the “regret medicine”, which means that you can return all the JOKER you have mined at any time if you feel an investment crisis. Just by putting back the mined JOKER to JOKER POOL, the smart contract will return all your staked funds. Isn’t it cool? Of course, more gameplays are available for you. For example, when you sell the JOKER at high prices, a price dump may occur, where the opportunity for arbitrage is generated. Then you may choose to buy back the JOKER to regain the money you invested.
The cost and the selling opportunities vary among the miners. This means that each price is matched with a given support point, each price has a bottom, and each price has arbitrage space.
During JOKER.ONE’s upward-cycle period, the scarcity of JOKER will bring investors with a great deal of wealth, and the production reduction mechanism of JOKER POOL will make the prosperity more durable.
During JOKER.ONE’s down-cycle period, the deflation mechanism of JOKER POOL will enable all miners, and even the entire ecology to recover for “fresh blood”.
What is guaranteed is that you are free of worry about the holding value of the JOKER in your hand.
The Cohesive Community
If JOKER.ONE were the brain, then JOKER POOL were the heart, and other features would be composed of the participants and the supporters, who are the backbones, the blood and flesh of the ecosystem that support the huge system.
We will develop various dApps and DeFi products to complete the scenarios for the applications. We have always believed that sharing is great and it makes people happy. Therefore, the dApps based on JOKER.ONE are all commission-able that you can make profits by sharing them to other people. This is the most unattackable thing in the world, also the fastest way to expand the ecosystem and bring it to the front. We unify the referral relationship of the entire ecology, which means that if you invite your friend, then you will get the rewards from any commission-able dApps he may participate at JOKER.ONE.
As well as the community cohesion, cultural construction is also an important part for us. What’s more, we’ll bring the charm of JOKER.ONE to more participants to enjoy the happiness and profits brought by every dApp. Allowing the supporters to enjoy net earnings permanently, this is the basis of the community cohesion. We don’t allow such immoral thing as “talking about morals without food” to happen at JOKER.ONE. At different periods of time, we’ll adjust and balance the ecosystem with the matching measures, and inject fresh vitality to JOKER.ONE constantly with the incentive policies to guarantee an energetic ecosystem.
The long history from the Age of Agriculture to the Industrial Age keeps forward.
Just as the unstoppable step moving from centralization to decentralization.
The arms of JOKER.ONE, is alway open to YOU!
Follow us for more updates
Website: https://joker.one/
Twitter: https://twitter.com/jokerdotone
Medium: https://medium.com/jokerdotone
Reddit: https://www.reddit.com/user/JokerdotOne
YouTube: https://www.youtube.com/channel/UCYr2J-X_SEJzuHr0RfZylfQ
Github: https://github.com/JOKERdotONE
