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Hello,

Envirocoin is a new crypto currency in the making. We are at pre ICO state ( if we will ever have one). The core principle of Envirocoin is that a percentage of 1 coin shall represent 1 square metre of preserved wildlife. With other words you will by investing in Enviro be the ethical holder of 1 square metre of non owned land.

The land will "belong" to the Nature Wise Foundation in order to realize the nature reserves. But the ethical action, the impact and the coin will belong to you. When the coin rise wirh its enviromental cause so will your financial gain.

This is partly a project to see if it possible to create tradeable profit from an ethical act that benefit our planet rather than actions that harms our planet, depletes our soil and polite our air and waters, like most of our existing trade agreement do.

It is therefore I find it interesting to explore alternative ways of mining. A way that does not burn millions of ampere. I am curious about how it would be to mine on solar or wind energy. Which if pos and pow would be more green. What about cryptonote? I see nxt coin use a method called forging. Please feel free to share different methods with documentation and let us find a good way. We can learn from what other coins did wrong or right and compile an ultimate green and common good coin.

I am fascinated by the concept of demurrage but have difficulty seeing it as sustainable before we have a strong network of vendors using EVC. Since EVC represent land it need a to be more of a commodity than a currency. I want people to see the value grow over time as this will encourage people to buy iy and this is the opposite of demurrage. 

It could be possible to start as a commodity and proceed as a demurraging currency in a second phase after a strong wen of vendors are established.

Please feel free to contribute with ideas, facts and documentation. I am mostly Interested in the practical direct experience you have but of you have a theory that you would believe is do-able. Please feel free.

To end this post I want to show you the suggestions from Arcurus:


-Coin issuing other then mining could become legally tricky, so either you must make sure that you are legally safe, or you risk it untill you have the ressources to make that legally sure.

-in the long run the voting for project funding could be done with ownerships of coins. one coin one vote.

-the distribution is then equal to the investment. the in vestment can be time or other ressouces. could be good to make also a minimum give out price like 0,0001 Bitcoin for each coin, but this can also backfire if the market price is less.

-for example layer two makes sure that 10% is used for miners 10% for node owners and 80% for enviromental investments/ projects. Not claimed coins in an block can be claimed in next blocks but never more then double the block reward plus 1 coin.

-use of blockreward for project funding.

-add second layer similiar to how dash did.

-layer one take bitcoin code plus the following changes: reduce block generation time to 2.5 minutes (4 times speed).

-enconomically i would do it like 1 envirocoin is a average price of blabla land. but still i would limit the coin supply to 21 million. so later one one envirocoin could become more land. on top of that it would be good to give some interest for holding the envirocoins

-80% to project financing / giveout to donors

-10% to stakeholder / node providers

-10% to miners as proof of work

-Enviro-coin Economic description:
win for environment, win for community life, win for nature

Project investments (80%)
- Investment in desert and reforestation projects using permaculture techniques increases land value and secures nature
- projects are organized in cooperatives (one person one vote)
- projects pledge to pay back received project funding counted in 4 year average gold price
- until not payed back projects pledge to offer produced goods 5% cheaper for enviro-coin users
- projects pledge to pay back at least 1% of the project funding per year
- bought property is owned by the distributed enviro coin foundation until project funding is paid back
- transaction fees paid from or to the project are considered as pay back

Development and coin distribution (20%)
- to projects that don't need to pay back
for example: technical development, advertisement costs, education, supporting basic income projects.

 

That's all for today, please contribute!

All the best

Antonio

https://envirocoin.jimdo.com/

Envirocoin@protonmail.com

 

 

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Considering the Enviromental issues with with proof of work, I believe more in usage of Proof of Stake with an added Casper protocol for security. Although perhaps not among the biggest coins, peercoin, nxt and others have proved that it is do-able so I would believe until I will have it finnaly confirmed that POS and forging will be more likely to be used for Envirocoin

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to proof of stake:

peer coin proof of stake was one of the first, but now there are much better pos systems out there ( i did not look into it if they changed it)

next is very fascinating, because it was the first pure proof of stake system, but up to now it never got widely used.

iota is still proof of work, tangles like in iota could be implemented on block level if needed, or in a second layer. 

Ethereum for example has soon proof of stake and is likely also moving towards ¨partial¨ blockchains (each node takes care of one part of the block chain). 

Very promising is also dash concept: proof of work combined with proof of stake. The concepts seems to be very solid and very easy to understand compared to mostly all other pos systems out there and now they have also tons of developers to develop it even further. 

Very promising is also steems / bitshares delegated proof of stake. 

As summary, currently i would tent to have a combination between dash proof of stake added with delegated proof of stake.

This would allow near instant transaction verification like dash and steem has it.

 

Layer one proof of work.

Layer two delegated proof of stake (implemented as soft fork) 

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the concept one coin one piece of land sounds interesting, but needs much more thoughts to be implemented right.

One way would be to make it similar to how steem dollar functions. In short you have two currencies, one is volatile, second one is pegged to an asset or currency and backed by the first one. This would give people the choice how much risk they want to take.

To voting, currently my tendency is more to go towards one human one vote like cooperatives function normally. 

To have a vote you must have some amount of coins, similar to how cooperatives function. 

If you dont have this amount yourself, other people could pledge for you. 

 

In short:

Envirocoin / Environation

 

Layer one:

Layer one Bitcoin technology with 2 minutes block time (block reward halfing every 9 months, nearly similar to pregnancy :)) (hard)

Starting bock reward: 10 coins   (hard)

Max number of coins 21 Million (alternative multiply by thousand so its more user friendly)  (super hard)

Faster difficulty adjustment / layer two techniques to stabilize block time (see below) (hard once proofed)

optional: use of two different proof of work algs (one like bitcoin, one unique) (hard once proofed)

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Layer two:

Enforcement of Block reward distribution (Not used coins can be used in the next blocks, but at max 10 coins):

10% to proof of work (Hard)

10% to master nodes / network operators (Hard)

80% distribution to projects according to the vote of the Enviro Nation members. (Hard) 

(for example: 20% to all projects, 20% to provide liquidity, 20% universal income, at least 20% to investments) (Hard once proofed)

One member one vote, organized like a cooperative (Hard)

If less funds are available then allocated through projects, funds are distributed according to member count that voted for / against the project.(Hard)

 

Each member must have X coins as security. (Hard once proofed)

Other coin holders can pledge if they have excess coins. (Hard once proofed)

 

Groups (Hard once proofed):

Members / projects / masternodes are organized in groups of 100, 10.000, 1.000.000, 100.000.000

Groups can be voted similar to members.

By default members that do not vote, vote relative to the member group vote.

 

Voting (Hard once proofed)

Votes are obsolete after one year.

Each member has per category outlined below 10 positive votes and 5 negative votes.

To each project, member, etc can at least 2 votes be assigned.

 

Voting on members: (Hard once proofed)

Max 10 new members / member groups can be added per month (top voted)

Max 10 new members / member groups can be excluded per month (top voted)

New members need 10%  more positive votes then negative over a one month time period.

Members can be excludes if 10% more negative votes then positive over a one month time period.

 

Voting on protocol changes: (Hard once proofed)

Max 10 protocol changes can be done per month (top voted)

Protocol changes need 10% more positive votes then negative over a one month time period (urgent fixes must be voted on in the next possible voting period)

Protocol changes can be undone if 10% more negative votes then positive votes over a one month time period.

Rules of the protocol can be set as hard similar like a normal protocol vote, but with a extended voting period of one year.

(some rules are considered as hard from the beginning, tagged as hard. Rules tagged as hard once proofed, intends that the rule should become a hard rule once if is implemented and tested well. This rules must not be implemented from the beginning, but It expresses the will of the community to go into this direction and implement it unless changed in a hard vote)

The voting period of rules that are considered as hard is extended to one year.

 

Voting on projects: (Hard once proofed)

Max 10 new projects / project groups can be added per month (top voted)

Max 10 new projects / project groups can be excluded per month (top voted)

Voting on Projects that apply for funds, are voted similar to members.

A lifetime, year, month limit can be applied to projects. (limit of 0 is equal to removing the project).

 

Voting on master nodes: (Hard once proofed)

Voting on master nodes is done similar to voting on members. 

Max 10 new master nodes / master node groups  can be added per month (top voted)

Max 10 new master nodes / master node groupscan be excluded per month (top voted)

By default number of masternodes is limited to 1000, this number can be voted on like protocol changes

Masternode distribution should be done world wide according to number of participants (for example limited by continent)

If the master node limit is reached, old masternodes can be replaced after a one year time period by a new masternode that has more votes (positives - negative)

 

Optional Voting on sentries: (Hard once proofed) 

Sentries should be people that showed through past activities that they are devoted to the well being of all.

Sentries are meant to be the ethical guards and can come also from external people that do good, while master nodes are the technical / infrastructure guard.

same like masternodes, but limited to 21 

Sentry distribution should be done world wide according to number of participants (for example limited by continent)

Sentries have by default 10% of the total voting power.

With a 50% majority, sentries can require a second voting period (veto)

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I like the idea of 1m square being the unit for the Envirocoin.

 

I would ask can the land be valued without looking at each meter and it's use? Is a strip coal mine the same value as a regenerative agriculture? Or 1 m square of the desert versus 1 m square of rainforest?

Also if you do not 'own' the land how is the value of the coin tied to that piece of land? I don't see where there is any substantive connection between the environment the land and the coin.  It could just as easily be a Mars or Moon coin based. How do you see spending 80% on establishing a better environment for entities that might turn around in 40 years and sell off the logging right to that piece of land? If you do not have any control over land use this seems like a very naive model moving forward.

 

 

 

 

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Every model looks naive in the beginning just like any child is born with a millions of questions. Just because the idea has not yet mentioned the details doesn't mean that it won't. Your questions are all very valuable contribution in the process of shaping the coin and it starts with an open discussion before we get closer to settling agreements. 

I see the complexity of the initial idea and I love the challenge it poses. You are right: should 1 square metre of desolate land be worth the same as 1 square m of fertile agricultural land or forest. I would say yes, because it is not the entry point that creates the value. It is the outcome. In other words: a certain percentage of an Envirocoin would equal 1 square metre of potential rejuvinated, reforested and preserved wildlife. We could perhaps discuss about a difference of value measured up against the cost of preservation, rejuvenation, regeneration and we could also discuss the whether the cost of 1 square m regreened desert would be the same as 1 square m revived farming land with permaculture methods. 

When the time is right I plan to contact permaculture farmers and teachers to merge their courses and practices with our agenda of reviving wildlife. The permaculture network is big, with many ideological people who care for the earth. They are also in favour of crypto and decentralization so I see that it is a good match. 

In regard to the topic of ownership I don't see any problem. It might challenge the conventional mind but any green investor would be perfectly fine with knowing that their contribution causes a good impact for the planet. They will own the coin and just as Arcurus mention 2 layers similar to how steem work I see that we could develop two groups. One group working on the part of the value that works more as a commodity and the other layer/group can work more intensively with trade/exchange and promotion so that the second layer of the coin itself becomes appealing to for exchange and trade. 

The chapter of controlling land use is yet to unfold but a part if the vision. We would invite qualified land managers, ecologists, permaculturists and other relevant qualified people to live on the land. At this point we will need to establish an environmental group that will work with the legal system to protect the land by law. We would need lawyers and I am even open for a kind of forest or field ranger like they have in Canada. Officials that protect the land. At that time the Nature Wise Foundation (the foundation behind  Envirocoin) would be established and hopefully presented and gotten our objectives approved by official environmental entities within the gov. sectors within each countries.  It's a big and complex job, depending on a lot if people so feel free to join Mr Bicknelski. There is plenty of room for everyone 

All the best

Great questions

Antonio

 

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Having a stable currency in cypto could be done with having two coins in one.

One coin the price fluctuates, the second one has a stable pegged price similar to how steem and steem dollar works (i not fully agree with how they implemented, i think it could be done better, but it shows how it could function).

In short some part of the fluctuating currency is hold in reserve in the block-chain itself to guarantee the peg.

I would define the land price simply as an average land price from a certain land basket.

Only problem would be in case of a bank-run on so that the pegged currency cannot hold its price, in this case there can be a clear exit strategy coded, so that it is clear what is happening in that case.

A certain percentage of the  currency hold in reserve (to guarantee the peg) could be directly invested in land. I would encourage to create world wide distributed cooperatives to hold this land. 

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How could  a stable currency look like more in detail

In short this implementation uses one fluctuating currency called coin and one pegged currency called credits.

The coins are used as security to guarantee to a certain level the pegged price of the credits.

In case of a bank-run when the peg cannot be hold, a clear exit and recovery strategy is outlined that priorities older orders and therefore encourages to not dump the coins.

The below outlined system is designed that way, that in case of price increase / decrease the system tends to stabilize itself. For example if coin price increases it sells automatically excess hold coins and therefore increases the coin supply.

The other way round in case of the coin price falls, it would buy up coins and stabilize the price through reducing coin supply.

Owners of the pegged currency have the benefit of having a relative secure guaranteed price while still participating with at least 50% to price increase in the used security.

For example  lets say one coin is converted in 100 credits (pegged to land price), if one coin would double in value, a holder of 100 credits would have 150 credits.

If coin price falls dramatically, the credit price would be guaranteed only to a certain level. For this guarantee a part of the block-reward is used. Therefore as long as the price of a coin does not go to zero forever the credits could be exchanged to some point in the future for the pegged price.

In the above example after a coin price increase of 100% the price could drop 33% and still hold the peg.

The risks are the following.

1. Risk of a bankrun so that the peg cannot be hold (here a clear exit strategy can be defined)

2. Risk of manipulation of the pegged price (masternodes could be used to provide the price feed. In case of manipulation a masternode could loose its right to participate in the block reward and therefore has incentives to stay honest. Also the pegged price could be calculated over a week, and limited to a certain increase / decrease so that there is enough time to get rid of price manipulators).

Here now more in detail how the implementation could look:

 

Optional Envirocredit - stable currency:

Pegged to a average / one year price of land

- Envirocredits can be created on protocol level for 1% fee through using envirocoins according to the pegged price. (max created credits limited per block / time)

- A buy order with this used envirocoins (including the fee) is created on protocol level to buy back the envirocredits to the creation price. Therefore for each created envirocredit, there is at least one buy order to exchange it back to envirocoins

- the exchange price of this buy order is automatically reduced if envirocoins gain in value relative to envirocredits

- if the price of these envirocoins is higher then 101% of the pegged envirocredit price 50% of these excess coins (the ones with the lowest exchange price) are sold on the open market for envirocredits (limited per block / time).

- in this way traded envirocredits are distributed equally to all envircocredit holders.

(50% are put in a credit pool and distributed as interest (50% per year))

- the other 50% of these coins are put into a so called liquidity pool

 

 

Liquidity pool

- is filled with coins if coin price is higher then the pegged credit price (see above)

- a certain part of the liquidity budget (from the blockreward) is assigned to the liquidity pool, according the the market capitalization.

- if the price of the envirocoins is lower then the pegged price, coins from the liquidity pool are used to buy credits. (limited per time / first orders with the highest priority: priority is: (pegged price – price) * time)

- In this way bought envirocredits are sold (order created) for a 1% higher price

- if all coins in the liquidity pool are worth 5 times the pegged price of all credits, excess coins are sold on the open market for credits. These credtis are distributed equally to all credit holders.

50% instant (50% are put in a credit pool and distributed as interest (50% per year))

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On 12/9/2017 at 4:04 PM, Arcurus said:

the concept one coin one piece of land sounds interesting, but needs much more thoughts to be implemented righ

This concept is not only interesting, it is the foundation of Enviro, withouth this concept or a similar one reaching the same objective there is no Enviro, Enviro is intended to preserve nature. Any development that can include other auspicious implications are welcome but in the end the prime target must be met. 

:)

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