Fashion Coin White Paper 2.0.Good Money Drives Out Bad
The First NFT Social Network PROOF-OF-LOVE
Creative Destruction by Generation Z
Historically, local national currencies as legal tender have always been backed by the so-called Gresham's Law: "Bad money drives out good." Bad money is money that the state apparatus issues in favour of the interests of the government rather than the people. It is this law that is the source of such tedious phenomena as inflation, manipulation, abuse and coercion along with violence.
Bitcoin provided an answer to this abuse in response to the 2008 global crisis, but it and its forks only partially solve the problem, since its value creation is only available to specially trained and equipped miners. At the same time, the use of bitcoin as a medium of exchange is significantly difficult due to the low speed and high cost of transactions. Everything here is determined by the algorithm and logic of Proof-of-Work. Ingenious solution for bitcoin to function as a store of value by Generation X.
The Ethereum blockchain, using smart contracts, allows businesses to create decentralized financial solutions, as well as collectible crypto assets for centralized investors, determined by the Proof-of-Stake logic. A step forward to mass adoption by Generation Y.
As the best for Generation Z, we consider such money that everyone can fashion out on their own in the form of digital assets by building creative valuables on the blockchain. At the same time, the decentralisation of creation of valuables should be brought ad extremum
at the users level. Everyone is an artist
and can seamlessly and independently create, store, exchange such creative valuables
without any conditions, creating a universal capital, provided by the creativity of everyone, and being a part of the general social architecture. Our mission is to enact a revolutionary law: "State-of-art Do-It-Yourself Valuables Drive Bad Money!"
Due to their creative nature and way of representing digital valuables
, they can also be applied in augmented and virtual realities, becoming at the same time artworks and an electronic cash for new metaverses to come
. Everything here is generated by Gen Z Proof-of-Love
logic and algorithm. Introduction
To implement the mission "The best money drive out bad!», Decentralized Autonomous Organization Cypher Bank
social blockchain platform are created. Anyone can become a founder of DAO Cypher Bank and a validator of the Proof-of-Love blockchain network.
On the Proof-of-Love Network, anyone can create, store, exchange and resell valuables
as non-fungible-tokens. Technically, valuables
are non-fungible-tokens that have both face value
provided by real cryptoassets and creative value
assigned by the owner. Thus, valuables
are both personal money and creative artworks, the uniqueness, authenticity and value of which are guaranteed by the blockchain itself and the entire decentralized ecosystem. Everyone is free to treat valuables
either as a work of art in terms of creative value (create, buy, sell, mortgage, use as a store of value
), or as a medium of exchange
in terms of face value, backed by real cryptoassets.
The main mission of state-of-art valuables is to relaunch creative industries, starting with fashion, art, gaming, music, - giving them not only new tools, but also new horizons for sustainable development
It is all impossible without sustainable development in building a new eco-system, where each digital creative product is both an artwork and a medium of exchange, and where the expanding horizon of creative exchange does not require interference with the natural resources and does not lead to CO2 emissions.
The function of money as a unit of account
in the entire eco-system is performed by fashion coin (FSHN)
. Any valuable
can perform the medium of exchange
function, since it is provided with face value backed by crypto assets.
For additional local convenience and with the help of specialized smart contracts for Proof-of-Love, everyone will also be able to fashion out fashionable digital money from local "national currencies" of any country. To qualify for seigniorage and start creating a visual representation of such a fashioned-out national currency (e.g. FUSD, FRUB, FYAN, FEUR, etc), see the form below - https://coin.fashion/stablecoins
For additional local convenience and with the help of specialized smart contracts for Proof-of-Love, everyone will also be able to fashion «non-Central Bank Digital Currency» out of the local "national currencies" of any country. To qualify for seigniorage and start creating a visual representation of such a "fashioned-out national currency" (eg FUSD, FRUB, FYAN, FEUR, etc), see the form - https://coin.fashion/stablecoins Proof-of-Love Blockchain Network
To fulfill its mission of building universal creative capital, DAO CypherBank
is launching the Proof-of-Love
blockchain platform, which at the same time has properties of a decentralised social network, and do-it-yourself creative mint and NFT marketplce.
Proof-of-Love is a decentralized social network on the blockchain where users create, exchange, buy and sell creative digital assets in the form of unique non-fungible-tokens in the form of valuables
. These valuables can be used as a medium of exchange and electronic cash in various metaverses of virtual and augmented reality.
Thus, Proof-of-Love is actually a decentralized Creative Mint, in which everyone can independently create their own valuables
and contribute to the universal art capital.
In the perspective of the secondary market, the Proof-of-Love blockchain platform is also a digital meta-marketplace. Crypto Name = Cryptography + Steganography
To work with the Proof-of-Love platform and, in general, the initial registration in the blockchain network, as well as for further interaction with other blockchain networks
, the user sets up a crypto name on the blockchain. The crypto name is an additional protective layer designed to enhance user privacy and protect it with an additional layer of steganography
. The second but not less important function of the crypto name is the most simplified way of making transactions within the blockchain networks when users make transactions without direct interactions with public keys.
To ensure readability and uniqueness for humans, all abc's of all languages from Unicode, as well as all emojis, are used when creating crypto names
. Crypto names which are just only one emoji, such as ❤️ or U+1F680
, will be introduced and made available to the market after the launch of the Proof-of-Love dApp. Valuables as Do-It-Yourself Electronic Cash and Collectibles
Non-fungible-tokens, backed by real crypto assets on the Proof-of-Love network, are a new category of digital assets that are both creative works and money itself. That is, practically in addition to creative tasks, they also perform all the basic functions of money: unit of account
, medium of exchange
and store of value
. On the Proof-of-Love network we call these specific non-fungible-tokens valuables
and see them as Do-It-Yourself Electronic Cash.
From the user's point of view, valuables
are digital images in the Proof-of-Love eco-system, the ownership, use, purchase / sale and storage of which is verified by the blockchain itself. Moreover, each valuable
has unique value
characteristics embedded in their smart contract:
- face value
is assigned when the value is created by its creator. This assignment is ensured by the acquisition of the FSHN
and the fixing of the par price (face value
) in FSHN
. In this case, valuable
can always be melted back into FSHN
or exchanged for any other digital asset at par.
Creative value is the creative value awarded by the creator of valuable. Under a smart contract, any value can be redeemed by other users without permission by simply paying the assigned creative price. Neither the nominal nor the creative value can be changed by the author until the moment of purchase by another user.
The counterpart of valuables in the old traditional economy is collectible coins, postage stamps and other collectibles of nominal and collectible value. Proofs of Love
To encourage creativity of our community, the Proof-of-Love platform has created a reward system in the form of monetized proofs of love
. In their simplest approval function, proofs
are analogous to the «likes» of traditional social networks. The fundamental difference here is in the monetized weight of the proof,
in the differentiation of its content - depending on the face value
of the proven valuable
and on the total face value
of the proofing user.
Proof, when selling valuable at a creative value, results in a reward for the user who backed the valuable with their proof share of the sale. As a result, a cycle of creation and transmission of sustainable value arises at an additional synergy level. DAO CypherBank
The main mission of DAO CypherBank is to evolve creative capital and social architecture of the future based on decentralized solutions of various blockchains. To achieve these goals, DAO CypherBank
is not only launching Proof-of-Love network and dApp
but additionally starts a program supporting creative and buying powers of the community.
The operational function of DAO Cypher Bank
is to issue loans to users and collectors secured by works of art in the form of non-fungible-tokens.
In order to stimulate the creation of works of art on the blockchain, the DAO CypherBank is planning a program for issuing grants to creative people, for which it plans to create additional specialised blockchain platforms and a whole series of events in conjunction with partners.
One of the key missions of the Bank is to create a Museum of Crypto Arts
, built according to all the laws of institutionalised contemporary art.
An important creative mission is also the organisation of the Blockchain Fashion Week
as a sandbox for crowdfunding, promotion and sales of new generation designers. The DAO CypherBank
also plans to launch separate grant programs for designers and other representatives of creative trends in the fashion industry related to non fungible tokens.
A separate project of the Bank is to support the model's creativity and therefore unconditional basic income
for them in the form of grants for the creation of non-fungible-tokens by models for further operations.
A special focus of the Bank is to create such a creative economy, with the development of which there is a radical shift in favour of sustainability and sustainable development.
A separate project is the support of local national currencies to use in different metaverses
and to fashion their crypto version out of their old-fashioned conditions. DAO CypherBank
uses a variety of cryptocurrencies, with a focus on the currencies of the blockchain networks that will be used to create the entire Proof-of-Love universe - from Bitcoin to Ethereum, Cosmos, Polkadot and Filecoin. At the same time, the basic decentralized financial basis for the entire eco-system as a unit of account is fashion coin (FSHN)
), which provides a high speed of transactions and does not require commissions for their implementation within the eco-system.
To organise the management system for the DAO CypherBank's operational activities, the Management Board is created - according to the principle of possession of a valuemoji. Decentralized Autonomous Organization (DAO) Cypher Bank
, incorporated in Decentraland.org (exact address -25, 29 dcl) is conceived as a large family, of which anyone can become a member at any time - in proportion to their interests and goals. Family membership and, accordingly, participation in bank management is ensured by the ownership of valuemoji - a special type of valuables created by fashion coin initiator Anna Karenina
and issued by DAO Cypher Bank itself. The number of valuemoji
is limited by the number of underlying emoji
, and in order to possess them, you must either reserve them (see the forms below - ) or buy them later on the secondary market on the Proof-of-Love platform. Valuemoji = valuable + emoji
To launch the full-fledged functioning of the entire social network infrastructure and the Proof-of-Love
blockchain, as well as to create a management structure, DAO CypherBank
issues key valuables under the name of valuemoji (valuable + emoji) based on the artworks of Anna Karenina and with additional smart-contracts . Valuemoji
is a state-of-the-art digital asset, created as a non-fungible-token based on the artistic rethinking of emoji
by Anna Karenina
. The valuemoji
have an unconditional face value and constantly growing creative value
In total, at the launch of DAO CypherBank and Proof-of-Love blockchain network there are four types of valuemoji
to ensure membership in the family - in accordance with the level and privileges of membership.
1) Each of the 9 valuemoji of the"heart" group ❤️ entitles them to participate in the supreme governing body of DAO Cypher Bank and the Proof-of-Love platform and to have financial interests commensurate with its value.
2) Each of the 95 valuemoji of the"smileys" group U+1F600
entitles you to membership in the privileged club of DAO CypherBank
and validators of the Proof-of-Love platform and to receive dividends in proportion to its value.
3) Each of the 1000 valuemoji U+1F680
entitles you to membership in the large DAO Cypher Bank and Proof-of-Love family and to receive dividends commensurate with its value.
4) Each of the 10,000 valuemoji ♻️ gives the right to membership in the large DAO Cypher Bank and Proof-of-Love family and to receive dividends commensurate with its value.
5) Each of the valuemoji of the"flags" group U+1F3F3
entitles them to seigniorage of national currencies in a playful way within the Proof-of-Love system with technical support and financial guarantees from DAO CypherBank
In addition to these valuemoji,
which are created for the initiating of DAO CypherBank family and to provide participation in it, over time, Anna Karenina
will fashion new crypto-art valuemoji out of ordinary common emojis (more than 3000 at the beginning of 2021).
The principle of filling and maintaining the face value, applied to the fashioned out national currencies of all the world (by the number of flag emoji), will also be applied to the valuemoji of such value keepers as gold, silver, bitcoin and other cryptocurrencies, whose blockchains will be involved in the Proof-of-Love blockchain metaverse. FSHN AND VALUEMOJI TOKENOMICS:
- A total of 1,000,000,000,001 FSHN are minted in the Proof-of-Love blockchain.
- 300,000,000,000 coins have already been issued to the circulation and distributed since the launch of FSHN in 2019, according to White Paper 1.0.
The remaining 700,000,000,000 coins will be distributed in the coming years through proofs on Proof-of-Love dApp.
❤️ Proof-of-Love Heart Valuemoji
- Each of the 9 valuemoji of the Heart ❤️ series existing at the beginning of 2021 (according to Unicode Emoji List, v13.1 - https://unicode.org/emoji/charts/emoji-list.html
- positions from 134 to 142) has a face value
commensurate with their use by humanity in social networks and instant messengers. As the basis for such measurements we take emojitracker.com
. Before the Proof-of-Love dApp launch, you can buy them at a face value
, see the form here - https://coin.fashion/valuemojiform
Buying or booking a valuemoji ❤️ prior to the launch of Proof-of-Love dApp
only happens at a face value
. And later, when the platform is launched, the new owner can also assign a creative price to it and sell it at that price on the secondary market.
For three years from the date of buying every ❤️ valuemoji
will be additionally given 12 % of the face value per year.
In the Proof-of-Love network, with proofs
from the owner of ❤️, x100 is added to the coefficient of the proofer's nominal capital. U+1F600 DAO Cypher Bank Face Valuemoji
Each of the 95 "smiley"valuemoji
existing at the beginning of 2021 (according to Unicode Emoji List, v13.1, https://unicode.org/emoji/charts/emoji-list.html
, positions 1-95) has a face value
commensurate with emojitracker.com
At the start and before the launch of Proof-of-Love dApp, you can buy them at a face value.
The purchase or reservation of the U+1F600 DAO Cypher Bank Face Valuemoji
series prior to the Proof-of-Love dApp launch occurs only at a face value
. And later, when the platform is launched, the owner can also assign a creative value to it and sell it at that price.
For three years from the date of buying every U+1F600 valuemoji
will be additionally given 12 % of the face value per year.
In the Proof-of-Love network, with proofs from the owner of U+1F600
, x 10 is given to the coefficient of the proofer's nominal capital.
Before launching Proof-of-Love, you can reserve and receive U+1F600
by filling out the form - https://coin.fashion/valuemojiform U+1F680 DAO Cypher Bank Rocket Valuemoji
Owning one of 1,000 valuemoji U+1F680
,: rocket: (according to Unicode Emoji List, v13.1, https://unicode.org/emoji/charts/emoji-list.html
, position 912) has a face value
of 10 million FSHN, by which U+1F680
will be available for purchase prior to the launch of Proof-of-Love dApp.
In the future, the owner of U+1F680
, when launching Proof-of-Love dApp, can award it with a different face and creative value.
For three years from the date of buying every U+1F680 valuemoji
will be additionally given 12 % of the face value per year.
In the Proof-of-Love network, with proofs from the owner of U+1F680
, x5 is added to the coefficient of the proofer's nominal capital.
Before launching Proof-of-Love, you can reserve and receive U+1F680
by filling out the form - https://coin.fashion/valuemojiform
♻️ DAO Cypher Bank Sustainability Valuemoji
Owning one of 10,000 valuemoji ♻️,: recycling symbol: (according to Unicode Emoji List, v13.1, https://unicode.org/emoji/charts/emoji-list.html
, position 1442) has a face value
of 1 million FSHN, through which these parts can be purchased before the launch of Proof-of-Love.
In the future, the owner of ♻️, when launching the Proof-of-Love dApp, can award it with a different face and creative value.
For three years from the date of buying every ♻️ valuemoji
will be additionally given 12 % of the face value per year.
In the Proof-of-Love network and dApp, with proofs from the owner of ♻️, x3 is charged to the coefficient of the proofer's nominal capital.
Before launching Proof-of-Love, you can reserve and receive ♻️ by filling out the form - https://coin.fashion/valuemojiform U+1F3F3 DAO Cypher Bank National Currency Seigneurage Valuemoji: from fiat to fashionable
To make fiat local currencies fashionable within the Proof-of-Love eco-system, DAO CypherBank is the first in human history to develop a separate program of more than 100 stablecoins fashioned out of local money. To designate the fashioned out fiat currency inside the wallet, emoj
i of the flag of this country with the designation of the monetary units of this country are used.
Each of the fashionized national currencies is backed by as many FSHN
as it contains at any given time by the market course. If the cross-rate of this local currency to FSHN changes in any direction, the smart contract system ensures that FSHN is filled from the reserves of DAO CypherBank in full. That is why DAO CypherBank only allows the issuance and seigniorage of as many fashionized national currencies as it can guarantee with a multiplier of x3.
Subsequently, on the Proof-of-Love platform, DAO CypherBank is planning additionally to issue currency notes fashioned by the best young artists. In this case, the rules for filling such artistic banknotes will be the same as with U+1F3F3
. That is, the user's account and wallet will reflect the ownership of the NFT banknote, expressed in denomination in this national currency.
In addition, users will be able to buy the valuemoji
as coinage regalia for seigniorage with further receipt of interest from commissions from the circulation of these currencies in the system.
Users pay 1% for each transaction to exchange fashionized local currency to FSHN and vice versa, as well as cross-exchange with any other currency within the Proof-of-Love eco-system.
For transactions within the system within the same fashionized national currency, users pay a commission of 0.10%.
DAO CypherBank and the holder of the Seigniorage Mint share 50/50% commission revenues.
The cost of each U+1F3F3
is determined at the auction on applications (see the form form - https://coin.fashion/stablecoins
Last but not least and in addition to fashionized national currencies, we will also present Special Drawing Rights stablecoin
and wrapped cryptocurrencies of those blockchains with which our blockchain is in direct connection like btc, eth etc.
With ❤️, Anna K and the team!