PROBLEM
The Sögur currency model is one of the important foundations for the development of Sogur’s common currency. So what is the Saga Genesis token in the Sögur currency model?
Each currency model is made up of many different factors, they combine and support each other to create benefits and develop the value of money for the issuer. Token is one of the most important dignitaries. They can be like conversion vouchers to protect the interests of users. Saga Genesis (SGN) in the Sögur currency model is just such a token. Join us to find out more.
What is the Saga Genesis?
Saga Genesis Token (SGN) is a voucher token that can be converted to SGR. The conversion rate — the number of SGR tokens received when converting SGN tokens — depends on the size of the SGR economy.
SGR tokens are generated for SGN holders at various milestones in the SGR market cap, which we call Mint Points. Whenever SGR economy reaches a new Minting Point, signaling that the SGR coin has achieved additional success, tokens are automatically generated by Sögur’s smart contract and kept aside for owners of SGN. SGN holders can redeem their SGN tokens at any time in exchange for SGR tokens that have been minted so far.
Mechanism of Saga Genesis (SGN)
The Saga Genesis Mechanism is designed to protect the interests of regular SGR holders and limit the ability of SGR holders to influence the SGR economy. The proportion of SGR tokens minted to SGN holders is never higher than 30% of the total number of SGR tokens.This represents a significant improvement over other digital currencies, where it’s not uncommon for a small number of wallets to own the majority of tokens.
Each SGN token can only be converted to SGR once. This encourages SGN holders to stay and support the SGR economy rather than short-term profits. Like the rest of Sögur’s currency model, the SGN mechanism is predefined and displayed on the blockchain.
Saga Genesis is designed to limit its impact on the SGR economy. The SGN-to-SGR conversion rate is limited, so the aggregate effect of SGN holders is limited. To mitigate any entity’s influence, the size of the contribution is also limited.
Society and technology are always changing, and we don’t know what the future will bring. The growing pace of social and technological change requires money to continue to evolve, adapt and improve. Digital currencies have enormous potential to become increasingly more sophisticated, delivering significant benefits to society and the economy. There are many possibilities for digital currencies to develop new and useful features.
The fact that cryptocurrencies can be programmed and deliver new functions has huge potential. It can be customized to serve specific purposes or be limited to avoid abuse or misuse. The Genesis Saga in the currency model did a great job. It controls and the common currency balance is not affected by any good kernels.
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Author: chimthom9