Ripto Bux on Waves:
Asset Name: Ripto Bux
Details: The official Ripto Bux asset.
Total Tokens: 1,000,000,000 RBX
Asset ID: AnERqFRffNVrCbviXbDEdzrU6ipXCP5Y1PKpFdRnyQAy
Issue Date: 2/18/2017 23:55:43
Ripto Bux on Ethereum:
Name: Ripto Bux
Decimal places: 8
Total supply: 1,000,000,000
A Brief History:
The Ripto Bux token got it’s start on the Waves Platform slack when it was used to raise a bounty for the development of a Waves custom asset Tip-Bot. After completion of the tip-bot (developed by Myco), Ripto Bux became the default tipping currency of the bot, and all of the slacks it has since integrated with.
Following this, Ripto Bux was offered to be one of the first token’s to utilize Incent Loyalty’s Blockswap technology. The way this works, is that an equivalent supply of $RBX is issued on the Ethereum blockchain. When an end-user uses Blockswap to swap their Waves-$RBX for Ether-$RBX, their Waves-$RBX becomes locked, and an equivalent Ether-$RBX is released into their Ethereum wallet address. It is an even 1:1 swap, and there can never be more than 1,000,000,000 $RBX released on either blockchain at one time. (The total amount of active/usable tokens on Waves and Ethereum, added together, can never exceed 1,000,000,000.)
This functionality of Blockswap affords Ripto Bux the capability of utilizing the technology of both the Waves and Ethereum blockchains, and allows users of both platforms to seamlessly do so as well.
$RBX has established itself as the defacto tipping currency on the Waves Platform slack, the Cryptocopia slack, and the Incent slack. By utilizing the Waves Asset Tip Bot, one can send asset/tokens instantly on the Waves main-network by using simple text commands. The tokens are stored in addresses linked to the slack profiles of the users. When tipping, if one does not specify the asset to be tipped, they will automatically tip in Ripto Bux denominations. Additionally, one can tip by using emojis. In any slack that the tip-bot is integrated, any use of an emoji will tip 1 $RBX to the commenter the individual emoji-reacted to. Additionally, custom tip-emojis were made that tip out 100, 1,000, and 10,000 $RBX when used.
Just from the tip functionality, Ripto has by far exceeded, in total transactions, the next most transacted asset on the Waves blockchain, WCT (Waves Community Token). At time of writing, Ripto Bux has been transacted more than 36,000 times.
Currently, one can use $RBX to participate in a mock trading game on Waves Platform slack, Cryptocopia slack, and Incent slack. The game is simple – one pays an entry fee of 100 $Ripto Bux to participate in the ‘season’. They are then credited 100 FAKE BTC, with which they can enter positions with. The bot then reads live market information from Bittrex and Poloniex. Depending on price movements, the position will either increase in value or decrease in value, and this is reflected in the participant’s score (FAKE BTC will go up or down depending on whether or not they are in a winning or losing position.) At the end of the season, the top 3 participants are rewarded a split of all collected $RBX fees. They enter their tip address automatically.
We plan to offer the tip-bot (and it’s functionality) to be installed on all Waves asset projects, in which case, Ripto Bux would be the default tipping currency there as well. Additionally, and preferably, we would like to install the bot on slacks that create gateways for their cryptocurrencies as well. This way, they could utilize the bot’s services (price checking, alerts, and slack channel games) while also transacting their native currency (Dash, XMR, etcetera, if they choose to create a gateway to the Waves Blockchain).
One of the bigger goals of Ripto Bux is to provide a sort of “backing” to fledgling community projects. By partaking in an OTC exchange – $RBX for new-project-token (here on out to be referred to as $XYZ) – and then setting up an $RBX/$XYZ trading pair on the Waves DEX, this new project will be able to claim an exchange rate calculable by referencing the current exchange rate of $RBX/$WAVES – giving an idea of what the project’s potential value may be.
In this manner, $RBX is sort of an investment into the $WAVES community and it’s members’ projects – helping those whom cannot or do not wish to run and ICO, yet are interested in creating their own C.A.T. (custom application token) and integrating it into some application of theirs.
Additionally, jkatz has begun development on the first smart contract that will utilize the Ether-$RBX token. We do not wish to give much information about it at this time, and would rather give full details upon completion.
Distribution of the Ripto Bux $RBX token breaks down as such.
– 40% of the $RBX supply will be airdropped for free to the Waves community. We would airdrop to the Ethereum community as well, but the fact that one needs to watch a token in their wallet makes this a bit difficult. It is much easier to distribute tokens via airdrop w/ Waves, so this is why we are distributing from on the Waves chain. 200 million $RBX have been distributed thus far via airdrop.
The first 100 million were distributed in two ways. Firstly, a 1:1 credit was given to all holders of the original issuance of the Ripto Bux token (from back when the tip-bot bounty was raised). So anyone who was holding the Old Ripto Bux token received the exact same amount of the new token. Then, the remainder (100 million minus 1:1 credit) was distributed to all WavesCommunityToken holders. The second 100 million were distributed to all Waves holders. 200 million remain to be airdropped at a date to be determined in the near future, and will most likely be airdropped to Waves holders, WCT holders, and $RBX holders. [400 million]
– 25% of the $RBX supply is earmarked for creating trading pairs with new community projects. [250 million.]
– 10% of the $RBX supply will be transferred to the Ethereum blockchain to make it easier for Ethereum user to access the $RBX token. These tokens will also be integrated into Ethereum-based $RBX token contract applications. [100 million.]
– 10% of the $RBX supply will be, over time, listed on an exchange, centralized or decentralized, in order to create an early and steady price point for the Ripto Bux token. Any funds generated from the listing of $RBX will go towards the creation of a dedicated Waves full node, & matching services for trading $RBX & its $XYZ asset/token pairings. [100 million.]
– 5% of the $RBX supply will be reserved as a slush fund for rewarding contributors to the project, a potential reserve of trading pair collateral, an additional airdrop, etcetera.[50 million]
– 10% of the $RBX supply will be reserved for the creator of $RBX, and for developer assistance. [100 million]
https://cryptoderivatives.market/ (An Ethereum Decentralized Exchange).
For information about Blockswap, see the site. https://blockswap.incentloyalty.com/.
You can find ripto, myco, and jkatz on the Cryptocopia slack. http://cryptocopia.herokuapp.com/
Medium – https://medium.com/@riptobux
Reddit – https://www.reddit.com/r/riptobux/