Please welcome sarcophagus

Hi. My name is Zack Hamilton. I'm here to talk about sarcophagus. And one of the initial builders among a plethora of other people all around the world that have contributed to this open source project. In short, we've built a deadman switch.

This deadman switch runs on Ethereum and arweave. If you're not familiar with arweave I highly suggest you look into it. The endowment based payment system and censorship resistance is truly incredible. And it's one of the technologies that have made this even possible.

So again, if you're not already familiar, a deadman switch is a trigger that is activated upon the failure of the human operator to perform an action.

If you're talking about a suicide vest, that is when someone lets off the trigger and the vest detonates, if you're talking about a train that is when the operator say falls asleep in the train comes to a stop by itself, Deadman switches have been used for centuries in a multitude of ways. But as far as we've seen, no one has given the power of this unlimited failure of action to an individual by using the power of strong cryptography in all of our hands.
So, the things like Metamask things like Ethereum and really the penetration into the number of users that makes this possible. I think it's a really good time for a tool like this.
This tool is not meant to be fast, it's not meant to be cheap, it's meant to be final and robust. So, you know, please forgive the roughness around the edges of maybe some things like copy or design. We're building this in a way that has. I guess more important than competence in design, those things can be updated, so we can get into how it works later at a later date, you're welcome to look through the litepaper that will go through all the exact specifics of why the these different curves are in here, they'll go into the specifics of the token flows why there's a token at all. Why, what kind of token that is whatever.

And then, you know, we can talk a little bit more today about where we're at. So, the application is completely live on test net. We are actively testing that people are able to create sarcophagus, are able to get sent out to our third party node operators, and the payment functions are, are working between the two.

Another thing that we did when we first launched the token was create liquidity mining liquidity mining does nothing but distributes arco tokens, 1% of the total supply of the tokens, over the course of a year. So, obviously 1% of the total supply is a million. We've got 100 million tokens fixed supply is going to distribute these out per second in direct proportion to someone's ownership of the total locked of stable coin pool at that second.
So you can see we've got like 1.3 million in here right now it's been going up and down. But when these stable coins are in this contract they're doing nothing. So they're doing nothing other than earning sarcophagus, it's an opportunity cost based. We call it a wind sock, because we want to know what the market thinks we want to know what the general public thinks without them, emailing, or talking to humans.

We want to try to remove as much trust as humanly possible, so excited we're live on test net. We will be on Main net very shortly. We've also done a lot of other things around the back end of this, this isn't just an application run by, you know, some random startup. We have a full governance system. If you want to stake your Sarko tokens.

We run on Aragon. As you can see, the Dow is fully funded with all of our tokens that have been allocated to these different addresses this Dow is then voted, some people vote on on the Dow with their Sarko tokens one to one to figure out what to do with these, these Treasury tokens or as you can see a lot of them are already spoken for on things like archaeologist bonding incentive brings me to my next slide here, which is just the archaeologists incentives are the, the incentives that we're currently offering and we'll be offering in the future.

Hopefully we can go through these in more detail, but in short, we're trying to get a completely autonomous decentralized network off the ground, by using the power that has been created by this global network of strangers, and we are very excited to have everyone in this room, or everyone here to be part of it. Thank you.

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*** The above piece is an edited transcript of Sarcophagus presentation in the Open Web Collective Demo day***