MINERVA (OWL), Smart Money on Ethereum

gifargofur (26)in #minerva • 6 years ago

About MINERVA-SMART MONEY.

INTRODUCTION TO MINERVA

Built with smart contracts on the Ethereum blockchain, Minerva aims to incentivize approved platforms to adopt its cryptocurrency as a new payment method. Incentivization is achieved by rewarding these approved platforms with newly minted OWL tokens. These tokens are generated at a variable rate as the currency is used.

Today’s digital currencies have a serious problem. They’re rarely used as currency. The problem is compounded by excessive short-term price swings which creates substantial risk for many businesses to accept cryptocurrencies.

We envision a world where smart contracts help address the issue of excessively violent price swings, changing the way businesses approach cryptocurrency. By bridging the gap between businesses and customers, we hope to assist in bringing digital currencies mainstream.

MINERVA-SMART MONEY

We pay transaction fees to businesses, we don't charge them. We address cryptocurrency adoption issues by introducing commerce-disruptive incentivized payment solutions to accelerate the mainstream adoption of cryptocurrency and smart contracts. Minerva is the world's first reverse merchant processor.

ABSTRACT

MINERVA (OWL) is a platform and cryptocurrency which provides an additional revenue stream to merchants accepting its token as a method of payment. We seek to demonstrate less violent short-term fluctuations through Proof-of-Transaction and introduce incentivized payment solutions to accelerate the mainstream adoption of cryptocurrency and smart contracts.

MINERVA SOLVES AN IMMEDIATE PROBLEM WITH AN IMMEDIATE USE CASE: INTEGRATING WITH A $20 MILLION ANNUAL REVENUE PLATFORM WITH OVER 10 MILLION USERS.

MINERVA ADVANTAGE

New cryptocurrencies are introduced almost daily and their values can grow exponentially from inception. At the same time, many are abandoned after their novelty and market “honeymoon period,” thereafter quickly falling out of meaningful use. Despite these nascent cryptocurrency market features, it is clear that several statistical properties of the cryptocurrency market have been stable for years. The number of active cryptocurrencies, the market share distribution, and the turnover of cryptocurrencies remain fairly predictable.

Adopting a mathematical perspective, we see a neutral model of the cryptocurrency economy. This enables one to glean insights based on clear empirical observations, despite the varying advantages and disadvantages of one cryptocurrency over another. We have used this research to uncover the unique properties and the important factors to understanding how cryptocurrencies provide value to both end-users and long-term token holders.

• What if Ripple provided a unique advantage to companies in industries beyond
banking and other financial institutions?
• What if Bitcoin was not controlled almost exclusively by speculation?
• What if Ethereum’s mining rewards went to companies that accepted it as payment
and were accrued by the platforms’

SPECIFICATIONS

TECHNOLOGY

Minerva is presently an ERC20 token and smart contract system built on the Ethereum blockchain. Following this standard, Minerva tokens are easily transferable between users and platforms using ERC20-compatible wallets, and can be smoothly integrated into exchanges.

SERVICE AND APPLICATION LAYER

Certain OWL tokens will be held and issued to businesses to serve as “signing bonuses” subjected to a slow-time-release algorithm and distributed on a first-come, first-served basis at 5% of the bonus vault until a point where the vault becomes nearly exhausted and a 5% signing bonus is fiscally inconsequential.

Minerva OWL tokens issued to partnered businesses via Proof-of-Transaction at variable rates. With this model, OWL tokens can be exchanged for services on Minerva-approved platforms and then sold back on the market by partenered businesses, thus creating the added monetary value. OWL tokens can not be generated by any other method.

This fundamental revenue-generating aspect of Minerva allows approved and integrated businesses to increase their revenue immediately upon implementation, and grants more flexibility in partnering platforms to reward customers with discounts.

CRYPTOGRAPHIC AUDIT

The Minerva team commits the subject to its platform to comprehensive security audits. We will implement multiple strategies to provide maximum transparency in our funds management. The goal is to prove the following:

All profits are favorably recorded.
The company is in possession of all declared funds.

For each platform that accepts the Minerva OWL as a payment method, we will create a view-only API key which will allow anyone to verify the balance and trade history of its account. To prevent abuse, monitoring and resource tracking will limit users from the exploitation of reward rate loops.

DISTRIBUTION & SUPPLY MODELS

ADVANCED METHODS

Minerva uses two advanced methods to increase and decrease the OWL token supply.

** The first method of minting new Minerva OWL tokens and inserts them into the economy when a partner accepts the token as the payment method. The rate at which OWL is entering the economy is called the "reward rate." The reward rate is directly proportional to the price of OWL: as the price rises, the reward rate rises. The reward rate will rise until it increases the total supply enough to prevent violent short-term price swings. The portion of the rewards is sent to a contract where they can be exchanged for MVP tokens (Minerva Volatility Protocol tokens) and voting tokens. The inherently inflationary reward rate used to reward platforms is hard capped at 10%. This means that supply will not change dramatically during episodes of significant growth, enabling the market price to naturally stabilize when artificial steadying is inadequate.

** The second method sterilizes Minerva OWL tokens when their price is decreasing. Instead of a negative reward rate, we take a system that incentivizes users to temporarily take OWL's take on out of the economy. Users will exchange OWL tokens for MVP tokens representing a certain amount of OWL tokens which may (or may not) appreciate over a set period of time. In any case, a MVP price decreases will be sold, but the more dramatic the price of the purchase is lower, the higher the potential appreciation of these tokens. These OWL, which is paid in addition to a certain percentage extra. In the event of a prolonged decline in which MVP vault funds are exhausted, the OWL will have to naturally regain price stability.

BASIC INFORMATION TOKEN MINERVA - OWL

Early adopter participation takes place through a crowdsale dashboard accessible via Minerva.com. 75,000,000 of 100,000,000 total initial Minerva OWL tokens will be distributed in two crowdsales. A pre-sale is followed by a primary Minerva crowdsale, and each are accessible to parties outside of the United States.

The crowdsales will be held in an auction format in that all distributed Minerva will be priced by the amount of contributions received, and then distributed accordingly. 25,000,000 Minerva will be excluded from the crowdsales which is described below in the “Reserve Minerva” section. After the initial 100,000,000 OWL tokens are created, new token creation, apart from bonuses associated with platform utility, will be halted permanently. Within 1 year (365 days) of the crowdsale, an announcement will be made regarding any potential 1:1 token exchanges relating to any proposed private blockchain migration.

PRE-SALE

We will be holding a token pre-sale and it is likely to be privately held.

PRIMARY FINAL CROWDSALE

After the token pre-sale, the primary and final crowdsale will take place

RESERVE MINERVA

At the end of the crowdsales the founding team will receive a 10% allocation of OWL tokens, subject to a twelve-month (12-month) holding period. These tokens will serve as a long-term performance incentive for the founding team. An additional 10% will be allocated for long-term operating costs, 2.5% will be allocated for partnerships and another 2.5% for the bug bounty program. All Minerva OWL token transfers will be restricted for two (2) months after the crowdsale ends.