Eureka Simple Coin (TESTNET)

Projects
#1

Hi Community,

This thread will be the implementation of my idea here:
https://forum.nem.io/t/my-crazy-idea-nem-coin-mosaic-which-price-never-drop/9271

Eureka Simple Coin
namespace: eureka, mosaics: simplecoin

In short Eureka Simple Coin (ESC) is a mosaic/coin which promise two things:

  1. Its price will never drop against base currency (XEM)
  2. Its price will grow over time (capped max to 1% / daily)

To accomplish 2 points above in general we will do:

  1. Peg ESC value to XEM
  2. Reduce coin number in market by release service/app which consume the coin
  3. Increase the strength to buy back the coin

I have doing some offline simulation to do this. Everything seem so good, but lets check them on reality.
To test it on TESTNET i have upload a bot to handle transaction. Now you can buy the coin anytime 24/7 by sent testing XEM to address below:

TCGIGU7JCCB4MPQI3Z7WRFWZCWUS2HPG4X7XPHMY

and set message: buy coin

Please dont forget to write the message. You will not receive ESC if there is no message or wrong message.
Please ensure to send minimal 10 xem because processing fee take up to 5 xem.

If you dont have enough test xem, please check these faucet for free testing XEM:
https://tomotomo9696.xyz/nem/faucet/
http://namuyan.dip.jp/nem/testnet/index.php

Current price:
1 ESC = 0.01 XEM or 1 XEM = 100 ESC

Milestones:

  1. simulation (done)
  2. handle-buy-coin bot (done)
  3. handle-sell-coin bot (coming soon)

Thank you, i will wait for your feedback on this thread

(tobe continued)

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