ABOUT OUR CREDIT ECONOMY
Sacred Capital runs on a 'mutual-credit' economy, which means every investment is backed by a corresponding debit i.e. a promise of utility.
Our operations are funded by long-term community members who resonate with our vision and mission.
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More details about our economy and our execution timeline are provided below. We strongly recommend going through the links in the thumbnails below before engaging further.
EXECUTION TIMELINE
SACRED CAPITAL CREDIT ECONOMY
Sacred Capital Credits are the bearers of economic value on the Sacred Capital network. Activation of credits will occur in Q2 2018 as mentioned above. This credit economy is built with guidance from the legal experts in the Holo eco-system under the 'Ethical issuance norms'. These norms are emerging as the gold standard for distributed economies since they offer value stable currencies (more here). They involve the following principles:
1. Backed by utility:
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Sacred Capital's economy is based on a mutual credit system where money raised is accounted for by a corresponding debit in our ledgers. It is executed using a distributed ledger protocol known as Holochain, an accounting system that runs on Holo Fuel.
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Users of our platform i.e. Apps or their individual users are billed on the basis of the computation power that they use on the interchange. Payments for this usage are settled on a pre-defined frequency i.e. daily/weekly/monthly
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Settlements are made in Holo Fuel using Holochains' mutual credit accounting system
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Users may choose to pre-pay for our services, thereby holding 'credits' in their accounting ledger against us
2. Value Stable:
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The cost borne by the user is a function of their computing power consumed on the interchange. Sacred Capital charges it's users the cost of the underlying computing power, plus a markup as stated by the Programmatic Collective.
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In this case, since our underlying computation provider is Holochain, our credits are effectively pegged to the price of Holo Fuel, a value-stable currency backed by distributed computing power.
3. Funders participate in the Programmatic Collective
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Early-stage backers receive reputation scores in the Programmatic Collective, which is critical to guiding and moulding Sacred Capital's path in the years to come.
HOW WE'RE FUNDED
At regular intervals, Sacred Capital opens windows for early-stage funding within the community. Funders receive 'credits' against which Sacred Capital holds a corresponding debit i.e. a promise to provide utility on the interchange.
More details below:
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In keeping with regulations, all our funding rounds are held privately to supporters of Sacred Capital.
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The amount contributed entitles the holder to a USD pegged worth of Credits in our accounting system when the network goes live.
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Benefits for funders include:
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A discount. This is a price incentive offered to those funding Sacred Capital at an early stage
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Access to a value-stable currency system. SC Credits are backed by immutable, distributed computing power, thereby providing a value-stable asset. Speculators may look at this as an opportunity to invest in a resource that is relatively stable compared to fiat-based economic systems
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An opportunity to guide the future of Sacred Capital. Participants in our funding rounds are rewarded with a reputation score in our Programmatic Collective (see link for more details) as an added incentive to those willing to back us.
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The total pre-sale issuance until we go live is displayed in the issuance schedule below
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The total number of pre-sale credits reflect as an 'initiation debit' in our accounts when our interchange goes live (see below). This represents a promise to the community to 'repay' Sacred Capital's early-stage funders.
