The Economic System of the ONO DApp : The ONOT token.

Abstract

ONO is a new type of social network based on blockchain technology aiming to create an ecosystem based on the value of attention with the main principles of freedom and equality.

The ONOT token :

The ONO system returns the value to the users that created the attention . It does so through the ONOT token.

The ONOT is a value certification with public trust ,in the social media network.it can be divided and transferred , and also serves as the value benchmark to place ads on the ONO social media network.

The initial circulation of of ONOT is 75 billion. With the year by year incremental creation and destruction mechanism, the final amount should total 100billion yuan.

ONOT is the ONO social media network's only circulation token which will be distributed to individuals based on proof of contribution (POC).

The intrinsic value of ONOT is achieved because of its democratic, standardized and decentralized nature.

ONOT being a "value certificate" is indispensable because it standardises non standard value and circulates freely in the second level market, increasing efficiency and making transactions transparent.

Adding and burning it ONOT

Adding of ONOT :

ONOT van be measured by the value of users contribution to the ONO social media network.
The daily dynamics and content creation of social media networks are of equal significance to the sustainable development of a community.

A mature and thriving social media network requires the joint effort, devotion and patience of all members ,which will make the network more and more attractive to the users.

Therefore it is predicted that the value of contents on the ONO platform will continuously increase . From the beginning to the end, there will be a fixed distribution of 5billion ONOT added every year.

Destruction of ONOT

The ONOT is an important public trust value certificate . It can be divided and transferred. As such, when the ONOT when the ONOT has exercised it right in the social media network, th embodiment of the value has been fulfilled and the token has to be destroyed in theory.

ONOT is a free and decentralized system. So in order to this vision to be fulfilled, the decision to destroy or not to destroy the token is made by the voting of all the users.

Since every year only 5billion ONOT will be added, therefore only 5billion ONOT can be destroyed because ONOT is only a value marker.

Finally, the ONOT account is saved on the EOS blockchain and has no transactional losses . It is also hoped that with the unlimited expansion of applications, it will gradually become independent of the ONO social media network and become an independent ecosystem with independent growth.

Thanks for reading

@molokwu