Token Specs and Distribution
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The PIECE Token will be an ERC-20 Token on the Ethereum blockchain with 8 Decimals (for liquidity purpose). Although it would make more sense to create a Token with 0 Decimals it is difficult to keep such a Token fungible, as no exchange accepts a Token without any Decimals. Therefore the PIECE Token will have 8 Decimals to make it tradable on (decentralized) Exchanges. Conversely this means that fragments of PIECE Token can’t be used to acquire a segment, because every segment will be “purchasable” for exactly 1 PIECE. So keep in mind if you want to get PIECE Token in the future you should never buy fragments.
1.000.000 PIECE will be created after the last segment of “World in Pieces” has been sold. The Distribution will be as follows:
10% = 100.000 PIECE are reserved for the Creators (locked)
10% = 100.000 PIECE are reserved for collaborations with artists (locked)
10% = 100.000 PIECE are reserved for liquidity providing on a decentralized exchange
70% = 700.000 PIECE are airdropped after the last Segment of “The World” has been purchased (will be claimable after wallet connection on millionpieces.io)
Distribution of PIECE to Creators: All 100.000 PIECE will be locked first. For every converted PIECE into a NFT Certificate / Segment of a future Artwork 0.1 PIECE will be unlocked of Creator’s initial PIECE stake and distributed to millionpieces creators.
Example: Of a future Artwork 5.555 PIECE have been converted into a NFT Certificate so far -> 555.5 PIECE are unlocked for the creator. -> fair distribution -> the more PIECE are converted / burned in the artwork, the more valuable the Artwork, the more PIECE for the creator. -> No PIECE Dump from Creators possible
Artists PIECE: All 100.000 PIECE will be locked first. For every converted PIECE into an NFT Certificate of a future Artwork (after purchase with PIECE) 0.1 PIECE will be unlocked of the Artist's initial PIECE stake and distributed to the contributing Artist.
Example: Of a future Artwork 5.555 PIECE have been converted into a NFT Certificate so far -> 555.5 PIECE are unlocked for the Artist. -> fair distribution -> the more PIECE are converted / burned in the artwork, the more valuable the Artwork, the more PIECE for the Artist. -> No PIECE Dump from Artists possible
Liquidity Providing: A Liquidity Pool will be created on a decentralized exchange and 100.000 PIECE to an equivalent of 100 ETH will be provided -> Starting Price: 1 PIECE = 0.001 ETH
Airdropped PIECE: The PIECE Airdrop to the segment owners of “World in pieces” will be conducted after the last segment of “World in Pieces” has been sold. The Distribution will take place on the fly. That means every owner will be able to claim his/her PIECE after the Airdrop Event. The claimed PIECE Token will remain unlocked and tradable on decentralized Exchanges.
