Send (SDT)
So What is SEND(SDT)?
SDT is digital money designed to solve exchange fluctuations and high volatility. SDT can be used by individuals, institutions, and apps seeking to store, transfer or exchange any form of value securely and without volatility.
- Stable rate per limited time
SDT maintains a stable reference price for fixed Consensus Periods, preventing volatility losses and allowing users to trade with confidence. A new SDT Consensus Price is defined at the end of each Consensus Period. - Forecastable growth
The SDT liquidity formula is transparent to the public and offers third party apps the advantage of anticipating network growth and forecasting price movement. - Backed by consensus
The SDT Consensus Price is an official reference for partners, allowing for efficient exchange within the Send Consensus Network. Network stability attracts users, driving real value through real demand.
The Send token will implement special features that will enable a fully transparent transactional ecosystem. SDT implements ERC20 standard and can be burned by token holders.
Signing transactions
Verified addresses will provide a transparent mechanism to show Consensus Network’s liquidity to the world. Consensus Network members will have whitelisted addresses authorized by Send Foundation that will allow them to sign transactions with an exchange rate. Similarly to ERC20 standard allowance mechanism, this logic also increases user’s privacy, as user 1 doesn’t need to know the address or identity of user 2.
Built-in escrow system
Send escrow will allow third party applications to build safe transactional applications that protect users funds. In an escrow transaction users lock certain amount of tokens into an escrow contract for a particular transaction in order to protect both parties from fraud. Locked tokens will be released only in 2 cases:
- With authorization of a third party address:The escrow arbitrator, based on application’s internal logic can resolve the escrow at any time, sending the tokens to the recipient or unlocking them in the origin account.
- Claiming tokens back after escrow time has expired:In order to prevent loss of tokens due to human mistakes, users can unlock their tokens once the escrow has expired if the arbitrator didn’t take any action.
Voting mechanism
Send’s address can create a poll, giving a time frame and a minimum amount of tokens required to vote. Any user that meets the condition can vote during the timeframe, all votes are logged to the blockchain and can be retrieved with a simple query. This mechanism is designed to empower token holders in relevant decisions for the Send Foundation and other community supported organizations.
In order to provide a safe mechanism and avoid manipulation, the token will create a snapshot of accounts balances when there is an active poll, this snapshot is only updated when an user votes or executes a transaction, this minimizes the gas cost of computing and storing snapshots.
Vesting mechanism
In our system, token supply is modeled through a vesting model where total token supply will be archived after 7 years. This means there is a limit to how many tokens a wallet can retrieve from the vesting contract over time. If an address gets 10 SDT tokens vested to 10 months, this address will be able to retrieve 1 token after first month, 5 tokens after 5 months and 10 tokens after 10 months. If you want to learn more about Send’s vesting models please refer to the Send SDT Token Economics document.
SDT supply
The max supply of SDT is 700 million Tokens, and valuation projections where computing based on this coin supply. However, the actual coin supply once the token is circulating will depend on the Token Distribution. Unsold tokens from the Token Distribution Event will be burned. Therefore the actual token supply will remain unknown until the Token Distribution finishes, with 700 million tokens being the upper bound.
SEND Protocol Roadmap
Send Foundation and WeSend activities will start as the Send (SDT) Network reaches certain transaction volume milestones.
- Q4 2017Initial investment round
- Q4 2017Token development
- Q2 2018Token launch
- Q2 2018Send API
- Q3 2018Consensus Network launch
- 100K USD (accumulated)Consensus Network milestone 1
- Q3 2018Initial price formation
- Q3 2018Send wallet
- 50M USD (accumulated)Consensus Network milestone 2
- 2019Send Protocol (Blockchain)
- 2019Send wallet 2.0
- 2019Coin migration
SDT Distribution Roadmap
Q4 2017 Sold Out
F&F SDT 8,333,333.00
Q1 2018 Running
Private presale SDT 32,572,059.00
Q2 2018 Public presale
SDT 29,094,608.00
Q3 2018 Token distribution
SDT 161,000,000.00
Token Distribution
• Total token supply: 700,000,000 SDT
• Public distribution cap: 231,000,000 SDT
Conclusion
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