Project Name: TrūQoin - Crypto Mining Cooperative
Project Track: Web3
Team Name: TrūQoin-Web3
Team Member(s):
Dan Lutz @TruQoin
Jinal
Yogesh
Vaishali
Dwarkesh
Adhik
Preston
Jason
DevPost URL:
Project Goal:
Our collective business experience looked at what creates value in a business and how to integrate that value into s system that rewards those individuals that create the value. The value in a business is shown by the sales products or services, and by the people that through their activity in a business caused the sales to happen. In order to integrate into a business a cryptocurrency / token we recognise the new coin must meet the challenge of creating “True Value” for the holders of the coin, as such we name this coin “TrūQoin” (TRQ). TrūQoin will have Utility, Scarcity, and Perceived Value; through our unique coin model we call Proof of Activity Mining (PoAM).
Project Info:
PitchDeck-TrūQoin-4-July24’22_compressed.pdf (5.5 MB)
Project Repo/Website:
Whitepaper
Pitchdeck
Mining Site
https://truqoin.io
Information Site
TruIQ Global - Product Sales
Join Site (ID Code TruQoin)
OR use this link - https://19765.truiqglobal.com/join/basic-enrollment/
Smart Contract - TRC20 - Token (TRQ)
Smart Contract - Custom Mining & Distribution
Smart Contract - Custom DOBS Sales
Smart Contract - TRC721 - NFT 1% Club
Smart Contract - Repository (Private)
Set to Private, but judges can gain access by request.
https://github.com/IBT-projects/TRQ-SmartContracts
Project Details:
TrūQoin is a mining-based cryptocurrency, living as a WEB3 DAPP on the TRON Blockchain. TrūQoin uses a different form of work than Bitcoin’s Proof-of-Work model. TrūQoin uses the work of all the people, whose activities in the physical business TrūIQ Global, as the “Proof” that “Work” was used in the mining and this “Proves” that “Value” is created. The work/activity in this Proof-of-Activity-Mining model is rewarded as Mining Power. The more Mining Power a Miner gains and the larger amount of TrūQoin rewards the miner for their activity.
TrūQoin integrates blockchain technology with a tradition business, wherein the total value of the activities that create value for the TrūIQ business are interwoven and synced with market value of the TrūQoin . What is good for the business is good for the value of the coin, what is good for the value of the coin is good for the value of the business.
TrūIQ Marketers sales of TrūIQ products are the only Activity that completes a Block of TrūQoin.
Each TrūIQ Marketer that completes a sale adds to the transaction count to mine a Block of TrūQoin. Only those Marketers that join TrūQoin Crypto Mining Cooperative are rewarded with Mining Activity Points.
TrūIQ Miners are rewarded with Points for the Activity of both buying and selling TrūQoin TRQ.
Every transaction on the Blockchain has two sides, both Buyer and a Seller are adding to positive value and are rewarded with Activity Points.
The “Good Activity” is rewarded by coin. Points are used to determine the percentage of coins captured in each Mining Block. The more points you have the more TrūQoin you can mine at the completion of each Block.
Each Activity Points represents a percentage of TrūQoin mined in a Block. Points have no monetary value. Points determine a percentage of TrūQoin captured from a Mining Block. The more points you have the more TrūQoin you can mine at the completion of each Block. The percent amount is only determined at the time a Block is completed.
Proof-of-Activity-Mining (PoAM)
TrūQoin unique coin model called Proof of Activity Mining (PoAM) that creates Utility, Scarcity, and Perceived Value. TrūQoin value comes from the activity of the business that creates value. The PoAM model looks at what activities are creating transactions for product sales for TrūIQ Global business as measured by sales volume and what activities creates sales volume for TrūQoin sales in the market. There are two “2” activities that are tied together to create value for both the business and the Cryptocurrency; as an Integrated Business Token.
Pitchdeck 12-minutes
Video PitchDeck
Project Milestones:
The first 4 block are pre-mined from the sales of TruIQ products since 2020 to March 2022. Each of these blocks added 105,000 TRQ to the current supply, out os a maximum of 21 milloin TRQ. This totals 420,000 TRQ and was split 50%/50% between the miners and the DEX/Operations.
The 210,000 TRQ for the DEX supplies the DEX-On-Boarding-System (DOBS) and sales started June 7th at 0.1 TRON per TrūQoin (TRQ). Sales are in 100 coin Catches and 311 Catches have sold as of July 25th. After each sale the price increases 0.1 TRON, and the current price per TRQ is 33.1 TRON.
There is a 10 day timer at the DOBS Catch sales page that resets after every Catch sale. The price will continue to increase 0.1 TRON until the timer reaches zero. This will be the price that TrūQoin is list for when launched on the DEX.
Anyone can watch the sales of Catches as long as their TronLink wallet is active when going to the mining site. In order to buy a Catch you will need to join TruIQ. There is no cost to join.
Buyers of Catches have seen masive amount of Mining Power from Catch sales. Point are calculated based on the number of TRON to buy the Catch multiplied by the number of Catches the Miner has purchased. This shows many miners buying multiple Catches.
These Mining Points will be applied to the Block 5 which is currently 70% completed and should finish in about 4 weeks. The Catch miner Point will represent the majority of the coin disbursement.
Next Milestone will be the launch of TruSwap Plus DEX.
