Rules of P3C
P3C is a game that models Universal Basic Income. The rules of the game are simple:
- You buy into the contract by purchasing tokens, every token purchased increases the token price by +0.00000001 ETC.
- 10% of what you spend to buy the token gets distributed proportionally to all other token holders.
- When you sell your token, you get back ETC at the specified price, and the global price per token goes down by -0.00000001 ETC.
- 10% of what you would get back for the sale is distributed to all other token holders proportionally.
- When a user uses your Masternode link to buy tokens, 33% of what would have been distributed to the community gets given directly to you in the form of dividends.
Remember: For every P3C you buy, the buy/sell Price rise for each token, increasing the value of your (and everyone else's) P3C. When cashing out the buy and sell price fall the same way, decreasing the global value of P3C.
How to Start Playing
- Download an Ethereum Classic compatible wallet (we recommend Saturn Wallet for Chrome).
- Configure Saturn Wallet, setup a password and save your seed words. Make sure you keep those seed words safe!
- Change the network from Ethereum (ETH) to Ethereum Classic (ETC).
- Disable Metamask in your extensions.
- To acquire Ethereum Classic to use P3C, we recommend using Shapeshift.io.
- Go to P3C.io, buy your tokens and hodl on!
Long Term Vision
The vision of P3C is to generate passive income for long-term hodlers, almost like a decentralized insurance program. You can invest in P3C when times are good, possibly for years, and then if times are bad, or you see a better investment opportunity you can sell your stake, for a fee, back to the contract. The code that governs this process isn't controlled by any humans, and is entirely driven by an autonomous smart contract on Ethereum Classic with no oracles. It's important to think of P3C in terms of years, not days.
We plan on using the Masternode system to enable enable content creators to collect tips via investment through their masternode. In our vision of a Win-Win economy, rather than just paying a tip to read content, you invest through a creator's masternode which both gives you future profits through P3C, and the creator recieves a bonus for their work.
We are also actively pursuing partnerships with other DAPPs in Ethereum Classic that need help bootstrapping through both investment and promotion. If you're a DAPP developer, we would be happy to discuss how to integrate P3C to help jumpstart your economy.
Understand P3C in Depth
- Read the core P3C contract code.
- Read the RainMaker contract code.
- Watch a video walk-through of the contract that P3C is based off of.
- Read the Social Security Administration's own article "Is Social Security a Ponzi?".
- Check out the website code (this could be run on a flash drive if necessary!).
Join the Community
We currently have a vibrant community striving to make P3C the best possible platform it can be. If you're interested in becoming part of it, check-out:
- Our Discord chat room(most active).