The Aria token
The Aria token (Aria) is the currency of the Arianee protocol. It is a fungible token compliant with the Ethereum's ERC-20 standard. Each Aria token shares the same value as any other of its kind which makes them optimal to serve as a monetary value token.
The Aria token is scheduled to be available on public exchanges from January 2020. Until that date, Aria tokens can be bought directly from the Arianee project team (contact [email protected] for more info).
The Aria token is released on Ethereum mainnet.
What is it for ?
Each premium feature of the Arianee protocol has a stable price in fiat currency (USD) payable only in Aria. The following features are charged to Brands:
Creation of certificate(s).
Message(s) to a certificate the Brand created.
Event(s) to enrich a certificate.
To maintain a stable price of features expressed in USD, their price in Aria is adjusted every day by Oracles based on the Day-1 8:00pm CEST Aria/USD exchange rate.
The Aria token circulation
Anyone or any organisation can buy & sell Aria on public exchanges.
The Aria spent for premium features are automatically distributed among stakeholders of the ecosystem so that they are incentivized to contribute. Redistribution goes as follows:
- 20% to the Certificate Management Platform provider.
- 20% to the Wallet provider.
- 40% to the Arianee project.
- 10% to the Nodes.
- 10% to Owners.
Supply multiplier: the more ARIA are held by stakeholders, the higher the Aria Price in fiat currency (USD)
Demand multiplier:< the more ARIA are asked by Brands or token holders, the higher the Aria Price in fiat currency (USD)
Why a dedicated cryptocurrency?
Issuing a dedicated cryptocurrency has its benefits:
- The Aria is a utility token and the only means of payment on the Arianee protocol. This enables all transactions to take place directly on the protocol, which facilitates digital interactions between users of the protocol.
- The Arianee project can finance its development by selling tokens to early users and distribute some to contributors to this open-source project. The Arianee project issued 200 million Aria tokens, this amount is fixed and will never change. Part of the Aria circulation were kept as reserve.
- As a token holder, this is the closest thing to equity you can get in the crypto world. Neither dividends nor voting rights are attached to the Aria token. The price of aria is a function of the Arianee protocol activity and the Aria token market liquidity. The only way that might change is if, for some reason, another protocol decides to use the Aria token.
This does not take away the fact that the Arianee project is an association governed by its members and founders. Members are either brands or partners, each one has a seat at the table so that the standard is designed by industry specialists.
The revenues are dedicated to the Arianee project's main purpose: promoting and developing the Arianee protocol. There is no shareholder and no possibility for a takeover from a corporation.