ABAS Token Whitepaper ABAS Token is the first 100% decentralized, 100% community owned, 100% trustless, 100% fair, 100% ownerless token that uses Proof-of-Work to distribute Tokens, Rewards, and run its Auctions
20% of the ABAS Token Supply is distributed by the Auctions contract. The speed which blocks are mined by Proof-of-Work miners will determine the auction length, fast miners = short auctions. Averages to 25 days per auctions. Each auction will sell 32,768 ABAS Tokens split to all bidders evenly depending on how much Ethereum they bid for the auction. Your ETH Deposited into Auction / Total ETH for Auction * 32,768 = Your ABAS Tokens you will Recieve. 100% Fair based on amount of Ethereum spent at that auction. All tracked and stored decentrally and trustlessly!
40% of the ABAS Token Supply is distributed by the Liquidity Provider Staking Contracts The speed at which Stakers are rewarded will be deteremined by Proof-of-Work miners. The rewards are split fairly and disitributed over a period of time to all Stakers. We are staking ABAS/ETH Liquidity Pool Tokens. This will 100% fairly and 100% decentrally distribute tokens to our Liquidity Providers, helping defeat Impermant Loss often associated with it.
40% of the ABAS Token Supply is distributed to Proof-of-Work Miners. They solve a complicated hash that rewards them with ABAS tokens. Which generatres a new complicated hash for the next miner to solve. All 100% done on chain and 100% trustlessly and 100% without an owner of the contract Along with the ABAS Tokens, miners will also recieve up to 0.10$ in Ethereum for every solve if available. Max of 4 TH/s at 12 minutes to stop private ASIC farms from monopolozing profits. Miners make daily Ethereum profits along with their ABAS Tokens daily, helping elivate transaction costs, electral costs, and even hardware costs! Ensuring the token is always mined!
Along with the ABAS Tokens and the Ethereum Tokens, miners will have the ability to mine up to 65 other Cryptocurrencies! Any ERC20 sent to the ABAS Contract will become instantly mineable! With most of the supply being distributed over 1 year. This allows any token to become mineable, without having to run their own proof-of-work system. Our system allows for basically any token to be mined, since miners pay nothing! We even allow for NFT mining!
50% of the Ethereum raised from the Auctions contract goes directly to Miners via Proof-of-Work. 66% of the ETH raised from the Auctions contract goes back to Liquidiy Providers via the Staking Contract!
No dev fee or any sort of fee is taken. All Cryptocurrencies are distributed 100% to the ABAS community.
Viva La Mineables