In the beginning of this project the smart contract 0x167cB3F2446F829eb327344b66E271D1a7eFeC9A was created and deployed on the Ethereum blockchain. This was on the 10th April 2018. For reference I will refer to the smart contract as 0x167 from here out.
0x167 was created as a solution to many problems both in and out of the crypto space, the amalgamation of this technology and the blockchain upon which it resides puts it at the forefront of censorship resistance and decentralized finance.
The 0x167 Smart contract manages all transactions, payments, the token supply and even the token value. Having 0x167 manage the Ethereum and all financial transactions is key to the security of the system and all user funds. When 0x167 was created it was created without a human administrator. This means there is no human that we must trust, in control of 0x167. The trust lies with the smart contract and the way that it is coded, 0x167 is a revolutionary development in the field of trustlessness and decentralized finance.
0x167 is a powerful token economy that mimics the ebbs and flows of the larger crypto market. Here is a breakdown of how the contract works and how it improves on the current systems in the crypto space.
If we look at the price of most cryptocurrencies they are all have supply/demand based pricing models, ie. when more people buy the crypto the price goes up and when more people sell the price goes down, this price is usually determined by centralized exchanges that are susceptible to wash trading and price manipulation, in 0x167 the token price is managed by an incorruptible algorithm in the smart contract code.
Simply put what this part of the code does is increases the token price as tokens are bought and decreases the price as tokens are sold. When tokens are bought they are minted by the contract and added to the total supply, the Ethereum collected in the sale is stored safely in the contract. When tokens are sold 0x167 burns them and decreases the total supply. Tokens can only be minted when Ethereum is sent to 0x167, when tokens are sold they are burned and the Ethereum value they represent in 0x167 is released. If we go back to the beginning, since the very first transaction, 0x167 has been managing the price and supply this way. It accounts for each individual token in the active supply and treats them equally.
In the beginning, as described in 0x167 code, the token value started at 0.0000001 ETH, as each token after that was minted the value of each token in the supply was increased by 0.00000001 ETH. Whenever a token was sold the price decreased by the same 0.00000001 ETH. Over time more people have bought and held tokens in 0x167 so the current value of the token at time of writing is 0.024913 ETH this is after accounting all the buying and selling that has ever occurred in 0x167 since its inception in April 2018.
As we know the token value started at 0.0000001 ETH and since then has grown, the token price is calculated by 0x167 in Ethereum and for total liquidity that amount of Ethereum from the contract balance is allocated to each token for when anyone wants to sell tokens and remove Ethereum. Having an Ethereum backed token like this is another way 0x167 improves on the current systems by being the most liquid token possible, all of the Ethereum required to pay all holders their Ethereum should they wish to withdraw is held in 0x167 contract balance, this ensures total liquidity unlike other liquidity pools where liquidity can be pulled from the ecosystem and everyone is left not able to sell. It also introduces the possibility of multi dimensional gains, put simply, not only can the price of the token go up and down in ETH amount but the USD/ETH value of that ETH can also go up and down independently. We not only get the price appreciation as more people buy tokens, we also get price appreciation as the ETH/USD value increases.
When you buy tokens from 0x167, 10% of the Ethereum you send will be taken and distributed as dividends to all tokens holders. This rule applies to every user the same, regardless of purchase amount. You may be wondering why you would buy a token where you lose 10% of your value, well because while you are holding these tokens you now become entitled to receive ethereum dividends from every single transaction that happens with any token in the system, you will earn dividends if someone else buys tokens, you will earn dividends when someone else transfers tokens and you will also get dividends when anyone in the system sells tokens. When you sell your tokens 10% will again be distributed as dividends to the remaining token holders, we suggest not selling your tokens until you are in profit accounting both the 10% buy and 10% sell fee. The website user interface will show both the buy and sell fee already deducted. It will appear as a 20% deduction as both the buy and sell fee has been calculated by the website. The buy and sell fees are sometimes seen as the tax we pay to become a part of a system that pays us Ethereum dividends for as long as we wish to stay in the system and ultimately is the key to a sustainable Ethereum dividend supply.
The 0x167 ecosystem is designed in a way that protects token holders from market manipulation, the mechanism used by 0x167 to achieve this is the 10% fee on all buys, sells and transfers. This helps protect the token holders in the event of large buying or selling as all holders will receive dividend earnings from any attempt to crash or manipulate the market. All of the fees collected are instantly distributed back to all token holders in the form of direct Ethereum dividends.
0x167 instantly distributes dividends to token holders as they are generated, dividends come from the fees that are paid whenever anyone buys, sells or transfers tokens. Dividends are distributed equally to all tokens in the supply instantly at the point the fee is charged. Dividends are paid directly in Ethereum. The supply increases as tokens are purchased and it decreases as tokens are sold, some users worry that as more people buy tokens the dividend pool is diluted, this can be somewhat mitigated in two ways, one, constantly reinvest dividend earning to keep increasing your token amount as the supply grows or two, to understand that as the supply grows there are more users which inturn means there are more buys sells and transfers and more dividends generated overall. Once dividends are distributed to your account they can not be reduced or taken back by the contract, the amount of dividends you have will always increase as dividends are generated on all buys, sells and transfers of the token. Dividends can be withdrawn to your wallet or reinvested to get more tokens in the system.
0x167 improves on the current market dynamics by having total liquidity held in the smart contract backing the value of each token. In most other crypto projects when you purchase tokens you are sending your crypto to the devs or project owner, in which case we must trust they will do the right thing with the funds. In this project we send our Ethereum to 0x167 which holds it ready to provide instant and total liquidity, 0x167 is the decentralized exchange where users have totally immutable access to all of their funds at all times.
0x167 holds all of the Ethereum in the ecosystem, this includes the Ethereum that backs each token’s value and all of the Ethereum that is held as dividends. This removes the risk of any human running away with the community’s funds, 0x167 acts as an impartial trusted custodian of the ethereum and economy, one that cannot think to run with the funds or even have anywhere to go. 0x167 can never leave the blockchain, it will remain on the blockchain for as long as the chain exists, it is written in immutable code that can never be deleted or altered, this leaves no option for any human to ever be able to change the rules of 0x167 or how it operates, the combination of these two technologies gives us an amazingly powerful result. A trustable decentralized economy that has no human in control and that can not be stopped or changed by any human on the planet.
Users have total access to their funds 24 hours a day 7 days a week, 0x167 is always running and accessible with no human dependence or intervention possible ever. 0x167 works directly with your Ethereum wallet, your wallet is the security login to 0x167 and you can only access your funds in 0x167 with your wallet, there is no third party that can hold or prevent you access, you deal with 0x167 directly by connecting your wallet to 0x167, you can do this using independent websites like etherscan.io or use one of the many user interface websites that are connected to the 0x167 contract.
The tokens generated by 0x167 can be transferred to any Ethereum wallet address anywhere in the world, simply enter the wallet address you would like to transfer tokens to and the amount of tokens then confirm the transaction. There is a 10% fee on token transfers as there is on buys and sells, this fee is also distributed back to all token holders as instant ethereum dividends. Please note, if you have dividend earnings in the contract they will be withdrawn to your wallet on token transfer as a security measure.
When you have connected your wallet to the website and refreshed the page you will see your referral link appear with your wallet address as part of the link, for your link to be active, you must hold at least 1 token with 0x167. Then, If you share your link and someone clicks it before they invest, you will get 3.3% of the amount they invested as referral dividends. This amount is taken from the 10% buy in fee they would have to pay regardless, meaning they will get the same amount of tokens if they use your link or not. In the case a referral link is used to buy tokens the 10% dividend fee is divided, 33% to the referral link owner and the remaining 67% is distributed as usual to all token holders.
The referral part of the system is 100% optional and earning from 0x167 is not dependent on you referring people but it can be an additional active income alongside the passive dividend earnings.
0x167 introduces a new dynamic to the ecosystem that ties it directly to Ethereum and the USD value, when we see price movement in the main ETH/USD pair it prompts buying or selling in 0x167 contract. When the ETH/USD price falls the 0x167 tokens become cheaper in USD value, this can prompt buying within the ecosystem as users see cheaper token prices based on the USD value, on the other hand the USD price drop can also prompt some panic selling. When the ETH/USD price rises the token value in USD also rises, this can prompt selling as people take profits, it can also prompt buying as people tend to buy things as the price is moving up. When you take into account holders earn dividends from all buying and selling in the contract you can see how staking Ethereum in 0x167 over time will net you more Ethereum than just holding Ethereum in your wallet.
Albert Einstein is reputed to have said, “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” Reinvesting dividend earnings is compounding simplified. Reinvesting is essentially taking the dividend earning that owning tokens has generated for you and using them to purchase more tokens, which in turn will generate more dividend earnings and more exponential gains as the token value increases.
0x167 was created as an active protest and demonstration to any and all governments or banking institutions that try to impose unfair financial rule and economic systems on the people of the world. To this effect 0x167 smart contract has been branded with many faces/websites that connect back to the main contract, this way the project has appealed to and benefited many different user demographics around the globe.