The Future Split of Agoras Tokens

Agoras is a token that will enable the exchange of natural and artificial knowledge over Tau-Chain (Tau). Currently, there is a total supply of 42 million intermediate tokens, named IDNI Agoras, representing the future Agoras coins that holders will receive upon the completion of the Agoras network.

To maximize the effectiveness of payments over the network, Agoras will have to support micropayments. For example, assume that you want to rent many computers, each for a very short amount of time, like minutes or seconds. For such an offering, your pay per recipient might be very low. Still, we have to support such transactions, as without them pricing will become unfair, and unfair pricing is always a significant security hole, as it can be exploited. Therefore, our old (and current) plan to maximize the ability to use micropayments is to increase the number of Agoras coins to 84 billion when we convert the current intermediate tokens to the final and functional Agoras coins.

Why 84 billion tokens?

With 8 decimal points for Agoras (like 1 Satoshi in BTC), we want to reach the maximum number of coins entered to 63-Bit (64-Bit and a sign bit for compatibility reasons). Therefore, we reached the following formula:

(2^63-1)/(10^8) = ~92.2 billion

By dividing this number by the number of current IDNI Agoras (42 million), we get 2196, which is the maximum split rate we can support (1 IDNI Agoras per 2196 future Agoras). To make it easier to distribute, we chose a split rate of 1:2000.

Number of Agoras future tokens = # of IDNI Agoras tokens * split rate = 42000000 * 2,000 = 84 billion

*Please note that the new ratio will replace the previously proposed ratio of 1:3500.

As mentioned above, the new number of Agoras tokens (84 billion) will be x2000 times the current supply number (42 million). Meaning, if you hold 1 IDNI Agoras token (the intermediate token) it will be worth the same as 2000 Agoras future coins that will be distributed upon Agoras' launch.

How will the split affect me?

The split will not affect your holdings or funds. Post split, the market capitalization of Agoras will remain the same, but the price per token will change proportionally to the split ratio. For example, if the price of 1 IDNI Agoras is $50, with a total of 42 million tokens the market capitalization will be $2.1 billion. Assuming you hold 1 IDNI Agoras (you have $50), after the split, you will get 2000 Agoras tokens worth $0.025 each. Your holding will remain the same (2000*$0.025 = $50) and Agoras market capitalization will remain the same (84 billion * 0.025 = $2.1 billion).

The split is just technical, to support micro transactions over Agoras. It will not affect your holdings in terms of percents from the total supply.

Additional information:

The split will happen when the official blockchain will be live, meaning it won't be conducted on the Omni platform.

With regards to the bonus- up to a 15% bonus will be distributed to Agoras holders who didn't move their tokens after August 1, 2017. There are two options:

  1. If your tokens have been locked (there are ~12 million locked tokens), you have already received the 15% discount, as appears on your personal address.

  2. If you decided not to lock your tokens, you will get up to 15%, depending on the time in which you didn't move your tokens (by using a formula to calculate the effective rate of your bonus). For example, assuming you moved your tokens after 2 months and the holding period* was 20 months, you will get an effective bonus of 1.4074%, according to the following formula: (1+15%)^(2/20)-1 = 1.4074%

*holding period = time from August 1, 2017 to the bonus distribution

Two answers posted by Ohad on BTT with regards to the bonus: