Similar to mining rewards, accumulating non-tradeable reputation tokens (PoA, PoN and PoC) is, akin to solving proof-of-work puzzles, a measure of contribution to society, and therefore rewarded with PAT tokens. The intrinsic value of PAT is what forms an incentive to collect (non-tradeable) reputation, as well as the intrinsic value of the reputation tokens (which signal that a person has a habit of completing contract agreements, and so on. )
If ETH is “consensus fuel”, then PAT could be seen as “social fuel” for a DBVN, that is hosted on top of a network-state like Ethereum, and the acquisition of non-tradeable reputation tokens PoA, PoN and PoC, a form of “social mining” where the reward is PAT, forming an incentive network both for securing the Pangea Arbitration Token as well as for securing Pangea as a jurisdiction through provable contract compliance, and curation of contracts as well as shared legal codes (within virtual nations that compete in a free market for governance. )
The pre-sale of PAT is ongoing until November 9, with a 30% bonus, a good opportunity to become a shareholder in a global jurisdiction, whose value will continue to grow.
https://www.bitcoinsuisse.ch/bitnation/
The PAT transaction fees are used for paying for contract curation, via Bitnation citizens that are incenvitized by proof-of-nomic (PoN) rewards, similar to how ETH transaction fees pays for consensus of contract state.
PAT transaction fees also rewards citizen reputation build-up (proof-of-agreement), and co-ordination around shared legal codes (proof-of-collective), both which are to the Pangea jurisdiction what consensus around state is to the underlying network-state infrastructure (for example the Ethereum “world computer”, or Bitlattice. )
PAT in that sense covers costs that are associated with a DBVN similar to how ETH pays for “broadly recognized contract state”, by incentivizing the growth of PoA, PoN and PoC trails, which provide a society with something akin to Hobbes’s “leviathan”, and does so in a fully opt-in and voluntary way, made possibly by “consensus technology” such as the Ethereum “world computer”.
Pre-sale ongoing until November 9th, with a 30% bonus of PAT.
https://www.bitcoinsuisse.ch/bitnation/
Sounds like a good idea! Nice content
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This sounds like a really good idea and a very nice direction to take the blockchain towards. I personally have interest only in crytocurrencies that have some real utility and not that are just a chance for speculation. If the minimum participation was much lower, I might have even bought into it, but the current price is simply prohibitively high for me.
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hi dave, there are ways to get PAT at any level of contribution :) the current contribution minimum only applies to the pre-sale in order to qualify for the 30% bonus. the main sale will have a very low minimum to allow anybody to join. ps. if you are interested in the bonus, you can join a pre-sale syndicate on the slack or email [email protected] for details
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Thanks for the info!
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this is something really new to me thanks for sharing about this
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thats an intresting thing today i got to know 😍
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Reminds me of Horizon. I think the ICO endet just recently.
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