AUTORIA (AUT) A supply curve modeled token
Autoria is a decentralized token built on the Ethereum blockchain platform utilizing a
Proof of ETH mining node registration to deploy AUT tokens according to a
mathematically rigorous supply-curve modeled algorithm. Autoria’s unique “automatic
mining technology” is our team’s first foray into customizable token deployments and will
serve as a model for designing token distributions in future ventures. Autoria serves as
an important stepping stone towards our team’s larger Ethereum venture, Hadron, a
service which will help facilitate enterprise level development, deployment, and
management of virtual assets on private blockchains.
Autoria is a one-of-a-kind ERC20 compatible Ethereum token that has been designed to test novel token deployment techniques. During the mining-node registration phase, users will register permanent mining addresses by submitting a “proof-of-ETH” to the Autoria smart-contract. The Autoria smart contract will then refund the ETH submitted (minus gas costs) and permanently register the senders wallet address as an AUT mining node. Each wallet is limited to a maximum aquifer (mining node) registration of the 1,750,000, in order to maximize the number of unique participants. All participants must ensure they use an ERC20 compatible wallet for registration or else access to AUT will not be possible. Do not submit ETH to the AUT smart contract from an exchange or wallet for which you do not have access to the private key as the ETH refunded by the smart contract will be lost forever.
AUT will be available for immediate withdrawal after registration of your mining well. The availability of AUT for withdrawal will be initially limited according to our mathematical growth algorithm. Over time, more AUT will be available for withdrawal. Instructions on how to interact with the AUT smart contract in order to check your AUT aquifer balance (amount of AUT available for withdrawal), or how to withdraw AUT from your aquifer, will be available on our website, autoria.io. Our goal is to analyze the potential and viability of customizable token deployment models as a way of combating unreliable token distributions. All Autoria team members will receive a mining node equivalent to the maximum stake in the Autoria deployment (1,750,000 AUT) and all solidity code will be made public for verification of fairness.
What we are
AUT (Autorium) is an ERC20 compatible automatic mining Ethereum smart contract built on the Ethereum blockchain. Autorium is the first token to implement a supply-curve modeled growth algorithm in order to control token deployment. Additionally, Autoria uses a “Proof of ETH” mining node registration system in order to promote diverse participation and Ethereum usage. Our team hopes to analyze the results of AUT’s token deployment in order to develop more sophisticated token deployment models for the development of better blockchain technology. AUT mining is available to anyone who holds ETH and participates in the Proof of ETH process. By participating in the Proof of ETH process, your ETH wallet address will be registered as a mining well (mining node) and have access to an AUT aquifer for withdrawing ETH. The maximum participation per wallet is 100 ETH. AUT’s smart contract automatically refunds ETH used in the registration process, consuming only gas fees. Once registration is completed, automatic mining does away with the need for graphics cards (proof-of-work) or mining pools (proof-of-stake). Instead, automatic mining registers unique Ethereum addresses, or “Wells”, as repositories of AUT. Fair distribution of tokens through these Wells is insured using a mathematical formula. As Well’s are permanently registered in Autorium’s source code, Autoria’s foundation is immutable. None of this would be possible without Autoria’s unique deployment model. Autoria’s unique model levels the playing field for its users. By promoting diversity in the distribution of Wells, Autoria prevents centralization of tokens. Through this process, maximum transparency and fairness is maintained, insuring the longterm success of Autoria’s games and related services.
What we do
Autoria aims to facilitate a new paradigm in token deployment
- Automatic Mining
- Proof of ETH
- Fair Distribution
- Inherent Equitability
- Supply-Curve Token Growth
- Customizable Growth Parameters
- Permanent Decentralization
- Autoria is the first step on our team’s vision for a new
- Blockchain development experience, Hadron.
Autoria’s mining reward algorithm
Basic equations The basic equation for our mining reward algorithm is the following:
‘B’, referred to as a bias, is a constant that guarantees all the tokens are released after a given
amount of blocks ‘T’ have been mined, given by the next equation:
Parameter update for token pool size change The amount of tokens available for mining isn’t fixed. Events such as investor rewards lead to changes in token availability that the mining algorithm must deal with in order to keep rewards going. We propose a simple solution to this aspect by recalculating “K”, the growth parameter, for the new fraction of total available tokens released. The equation is as follows:
Token release rate
We can differentiate the equations for the reward algorithm to get the token release rate,
arriving at this equation:
Limitations posed by Solidity
Solidity imposes some rules on calculations in the way of a limited set of mathematical and
bitwise operators, as well as the absence of floating-point variables. The cheapest and most
straightforward solution for the latter is a simple implementation of fixed-point precision
The lack of mathematical operators such as integer roots poses a bigger problem that we
have solved by implementing Newton-Raphson’s iterative root-finding method. From the
After several iterations, the algorithm will get to an acceptable precision. However, we can
do better by giving it a good initial guess, calculated from the value of the previous token
draw. The fraction of tokens drawn from each owner’s aquifer will not change much in a
short time period (i.e. from 0.654 to 0.659). As such, the initial guess for our inverse cube
root calculation will be:
This mathematical derivations lead to a simple and effective way of dealing with the limited
set of operators in Solidity, while at the same time keeping the execution costs down by
avoiding unnecessary operations. To further decrease the overhead of running the
algorithm, we will be implementing features that will prevent the execution costs from
growing too much, encouraging small contributions to be as relevant as major ones.
1. Proof of Eth Deployment
Our unique token deployment is the heart of Autoria. During the deployment phase, participants will be able to register their ETH wallets as permanent AUT mining nodes by submitting up to 100 ETH to the AUT smart contract. This ETH will then be refunded (minus gas cost) and AUT will be available for immediate access. We believe this deployment method helps bolster confidence in ETH, and is a great way to insure equitable participating from anyone who wishes to explore AUT’s novel distribution model.
2. AUT Distribution
Growth of AUT mining wells begins immediately after address registration. Users will be able to interact with our smart contract from their mining well and withdraw an increasing amount on AUT based on the formula outlined in our yellowpaper. This formula prevents users from discarding ETH at the beginning of the distribution and allows for predictable growth of AUT’s total supply.
3. The Future
The Autoria team will take the data and feedback generated from the AUT token deployment and implement them into a developing project called Hadron. Hadron is being developed to facilitate enterprise level development of private blockchains. Since Autoria’s distribution method is customizable, as outlined in the Autoria yellowpaper, these parameters may serve as key features in Hadron’s release. Analysis of the AUT distribution , growth, and participation will provide valuable quantitative information which will help inform our team’s future endeavors.
PROOF OF STAKE SECURITY
We've introduced a new type of ICO token that is secure from market manipulate and dumping. By using a proof of stake system, and by capping collectments at 100ETH, we insure that the distribution is decentralized and there are no big players that can control the market