Ampere hour token launch
Let’s power up the Machine!
Upala is launching the Ampere hour (Ah) token. The goal is to award early contributors, find intrinsically motivated people and give contributors an advantage over investors.
Become a core team member
- Developers are paid assuming that 1 Ah equals $1. Every job reward is negotiated the same way as one would do with fiat.
- Ah tokens can only be acquired for a job done. Cannot be bought or traded (transfers are frozen).
- No real money behind Ah token. We are just maintaining the record of contributions with it. The value though is in getting to the core team and receiving a share of the real Upala token when it is launched. Plus there’s an investment option (see below).
- Only for developers. Non-technical people have something even better with Upala. All the artifacts they produce can be wrapped as NFTs, and sold under the Resistance “brand” (check out the article on starting the Resistance). This is disputable, though.
Technical details
- At the launch, the token is non-transferable. Ahs can only be received in exchange for a completed job. This is done to avoid speculation.
- Transfers can be switched on in the future (if ever needed).
- Zero token supply. Payments are made by minting new tokens on the go right to the receiver’s address.
Deployed to 0xeed9D0f7265892e84e43d05dA464c75add199260 on xDai. See source code on Github
Economic details
The exact path of Upala launch is not decided yet. However whichever path we chose there will be a core team share in the total token supply. This is what you can get access to. After the Upala token launch, the core team share will be distributed according to Ah token balances.
I don’t want to put too many constraints by promising too much and want to leave some room for tweaking. Though the goal is to find intrinsically motivated people, I want to bring as much clarity as I can to the economic part. Here are some numbers to count on.
Core team share in total token supply. The minimum core team share will be 10%.
My compensation. I’m on the same conditions as all other contributors (so that the whole team incentives are aligned and I’m interested in increasing Core team share in the total token supply). At the real Upala token launch, I will mint to myself [x] * [time] tokens. Where [x] is monthly compensation and [time] is the number of months since I started to work on the project full time (Jan’ 01 2019). My monthly compensation would be not less than $10k and not higher than the highest-paid developer in the team (this would allow hiring any skill level).
Investment opportunity
As the Ah token tracks contributions in dollars, an interesting opportunity opens up. A developer may find an investor and turn part of his/her Ahs into dollars. Still no speculation, as we are able to manually select investors (also sounds like a DAO). This is like retroactive investing, or accurate investing, or investing just-in-time if you will. Need a bit more coding to make it work trustlessly. Just an idea for now which we can start experimenting on.
Conclusion
Upala is solving one of the most acute and toughest problems in cyber-space — the Sybil-resistance problem (or simply, one human — one account problem). And damn it is fun!
See where you would love to apply force — check out the infrastructure and the roadmap. And let’s do it! Let’s generate enough Ampere hours to power up the Machine.
Join us, human!
