Tokens of Babel

Price is God

Tokens of Babel is a trading game on Ethereum that burns tokens whenever a new all time high is made.

Inspired by the Bible story where humanity builds a tower so high that they challenged God's divinity.

The Lord said, “If as one people speaking the same language they have begun to do this, then nothing they plan to do will be impossible for them."

Once every 12 hours...

If,

The value of one Tokens of Babel token exceeds the historical all time high.

Then,

1% of the total supply is burned from all holders wallets. This can occur 2 times within 24 hours.

If,

The value of one Tokens of Babel token stays below the historical all time high.

Then,

No burn occurs. Instead, all time high target is adjusted to the midpoint between the current price and the current target.

Rebase Schedule

Rebases occur on a fixed time schedule to encourage cyclical trading.

  • Morning session rebase: 0900 UTC
  • Evening session rebase: 2100 UTC

Total supply dwindles to 1 coin, divisible by 9 decimal points, at around 750 rebases.

How does it work?

Burns are conducted via something called a 'rebase.' Rebases affect the amount of tokens in your wallet, but not your overall share in the total supply. If you own 1% of the total supply, you will always own 1% of the total supply, regardless of the number of tokens in your wallet.

This means that the value of your tokens do not decrease over time, but the cost to purchase a token after a rebase has increased for a new buyer.

If a pie is worth $10 whether or not you cut a slice out of it, owning 1% of that pie will fluctuate in value depending on how much of the pie has been sliced.

FAQ

Contract Address

The official contract address is 0x7777770f8a6632ff043c8833310e245eba9209e6

Total supply

The total supply 4,012,101 TOB.

  1. 40 Days
  2. 12 Disciples
  3. 10 Commandments
  4. 1 Yahweh

Airdrop Conditions for Antiample holders

5% of supply will be airdropped to all XAMP holders starting 2 weeks after the launch of Tokens of Babel. To qualify, you must hold XAMP at the time of the 2 week snapshot. The amount of TOB you get is proportional to the percentage of total XAMP distribution you receive. Burned accounts and Developer funds do not get airdrops.

Burn Updates

All burns and updates to the project will be automatically Tweeted from the official account.

Developer Fund Conditions

15% of supply is vested in an 8 month continuous vesting contract. The developer can withdraw at a steady rate once per block divided by the number of blocks that on average are mined in 8 months. The number of blocks was determined by this thought process:

  1. 15 seconds in an average block
  2. 5760 blocks in a day
  3. 240 days in 8 months
  4. 1382400 blocks until vesting is completed

Vesting Conditions

Vested tokens were broken into two separate smart contracts which can be tracked and followed here:

0xa44cc80840f205fb2bf001765c012476766fae13

0x3474ea3e41372efecbdc1b41a3c92df293370aa8

The developer wallet can be found here:

0xe41e5FA65d197AFA059edCe5225C1da2a01A361C

Rebaser

Tokens of Babel is operated by an on-chain Oracle and Rebaser which allows anyone to activate the rebase. The rebase only succeeds if the market conditions are correct, which is handled by the Oracle.

This makes Tokens of Babel truly a decentralized game.

The rebaser contract will be deployed no later than 2 days after the launch of Tokens of Babel.

To see an example of a rebaser on Antiample, see here:

0x8ceb211a7567cf399e1ee01e6974bf4a13b64c04

Liquidity Conditions

~500 Ether value of crypto was placed into the initial liquidity pool over the course of 3 hours (30 minute tranches) in succession of:

  1. 100 Ether value XAMP:TOB pool
  2. 100 Ether value XAMP:TOB pool
  3. 50 Ether value XAMP:TOB pool
  4. 100 Ether value WETH:TOB pool
  5. 100 Ether value WETH:TOB pool
  6. 50 Ether value WETH:TOB pool

Up to 400 Ether can be used to fund future projects, but only ever 20% or less of total liquidity. Target liquidity is 2000 Ether. The remaining 80% is burned to lock liquidity.

Liquidity may be removed and added back at different price points to support the token.

When playing Tokens of Babel, consider the risks. This project is meant as an experiment into market dynamics and should be treated as such.

A Bill Drummond Experiment

Bill Drummond is a pseudonym for a developer or group of developers with the goal of returning cryptocurrency back to its cypherpunk roots. Bitcoin was started as a means of tearing down an unfair and segregated financial system where the already rich and powerful rule and exert power.

More and more, we see the financial system tightening its grip on regulations and restrictions guised as safe policy. With more barriers to enter, less people have an opportunity to compete and end up having to work for those in power rather than themselves. This stifles innovation, competitiveness, and risks centralization of money and politics which leads to corporate fascism.

www.antiample.org

Cryptocurrency has the potential to become a liberating force in society, or yet another way for the rich and powerful to exploit the average citizen. Just like the tech magnates of today, cryptocurrency magnates will rise and become corrupt. It's our responsibility to fight against this urge and support the projects that hold the truest intent to the cause, not the coin.