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memtechgold / memtechgold-token

An ERC-20 token contract for memtechgold
The Unlicense
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Initial Supply #2

Open ericterpstra opened 6 years ago

ericterpstra commented 6 years ago

Thoughts on initial supply and decimal places? Most ERC tokens to 18 decimal places (the max), but I like the idea of 2 decimal places, and a large issuance (100 milion to 1 billion).

There's always the option of increasing/decreasing supply after the fact, but this needs to be clearly communicated to all community members (and agreed upon by governing actors). Best to just pick a number and stick with it.

emccrckn commented 6 years ago

Definitely no more than 2 decimal places I feel though I don't know about the initial supply. How are they generally distributed?

ericterpstra commented 6 years ago

I'm thinking a small supply to begin with, to give some semblance of scarcity and not overdo it. I'll make it mintable, though, so we can increase the supply as time goes on.

There are different methods of issuance. Usually it's an ICO or Token Generation Event (TGE) where people send ETH and get tokens in return at a specified rate. For MTG, I'm thinking a faucet on Slack using a chatbot, where users can associate an Ethereum address with their Slack handle to get a small amount of MTG for participating in chat.

emccrckn commented 6 years ago

I like the faucet idea. Would we do a monthly payout where the chatbot pulls all the chat data and awards tokens to the most active slack users? And are there current implementations of that already or do we need to make it ourselves?

On Sun, Feb 11, 2018 at 1:47 PM, Eric Terpstra notifications@github.com wrote:

I'm thinking a small supply to begin with, to give some semblance of scarcity and not overdo it. I'll make it mintable, though, so we can increase the supply as time goes on.

There are different methods of issuance. Usually it's an ICO or Token Generation Event (TGE) where people send ETH and get tokens in return at a specified rate. For MTG, I'm thinking a faucet on Slack using a chatbot, where users can associate an Ethereum address with their Slack handle to get a small amount of MTG for participating in chat.

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