iGnite Token

iGniter token seeks to enable users to specify which type of Ethereum based token they would like to issue. We currently provide support for ERC20 and ERC223 based tokens as these are the most common and widely adopted token standards. In the future, as new token standards are developed we intend to implement them into our token creation service.

In addition to token creation, our service allows users to transfer, burn and mint new tokens. We strive to make token management as user friendly as possible as we firmly believe user friendliness is one main factor that is currently limiting mainstream adoption.

At launch there will be 50 million iGniter tokens and initial token owners shall be rewarded with newly mined iGniter tokens. The maximum possible supply of iGniter will be reached in 40 years, and is estimated at 53 million. However, as tokens are burnt each time the token creation service is used, we expect this number to be lower.

● Concept and Purpose

Over the last few years cryptocurrencies have started to gain more acceptance and interest

around the world. As computer scientists, we are no strangers to individuals asking for

assistance with computer related matters. With the growing interest in cryptocurrencies, we

felt that improved ease of use in the creation and maintenance of Ethereum based tokens

would lead to more mainstream adoption and understanding of the cryptocurrency space.

Our team of developers also believes in protecting the environment and preserving it for

future generations to come. This factor, in combination with our goal, led to us deciding to

create a token which would be able to generate additional tokens over a period of time,

demonstrating the concept of mining; without the environmental impact coming from Proof

of Work mining.

Our token seeks to enable users to specify which type of Ethereum based token they would

like to issue. We currently provide support for ERC20 and ERC223 based tokens as these are

the most common and widely adopted token standards. In the future, as new token

standards are developed we intend to implement them into our token creation service.

In addition to token creation, our service allows users to transfer, burn and mint new

tokens. We strive to make token management as user friendly as possible as we firmly

believe user friendliness is one main factor that is currently limiting mainstream adoption.

We envisage scenarios where any individual who is interested in the space can easily

demonstrate how tokens can be created and sent to friends, family and coworkers.

Furthermore, we hope that companies and individuals who are desirous of launching their

own cryptocurrency tokens will use our service to make the process much simpler. These

scenarios can greatly lead to increased knowledge of the space and ideally increased

adoption.

We are of the view that these scenarios are realistic as individuals have expressed to us on

several occasions how likely it would be for them to develop their own token. Upon

explanation of the steps required, they expressed that they were no computer experts and

it would be difficult for them to perform the necessary programming steps to issue their

own tokens.

● Token Creation & Maintenance Service

iGniter provides a token creation service. To issue a new token using our service, users need

to send the current value of INR to the service payment function in the smart contract. After

sending the required amount of INR, the user has a maximum of 5 blocks to generate

tokens. Note: The issuance price and maximum number of blocks is subject to change.

Each time the iGniter Token Creation Service is used, iGniter tokens will be burnt as this is

built into the iGniter service payment function. This will in turn reduce the total supply of

iGniter.

Users can specify whether they would like to issue an ERC20 or an ERC223 token. After, they

specify the name and symbol of their token, along with the number of decimal points and its total supply. Furthermore, one can also specify if the token should be mintable and

burnable.

Token maintenance features at present are free. Our features allow token issuers to

transfer, mint and burn tokens. This allows token management to be extremely user

friendly, as we believe ease of use is critical for the end user.

● Funding

Our team does not believe that our token requires the issuing of an initial coin offering

(ICO). We are firmly of the view that it can be fully developed in house and therefore we are

not conducting an ICO. However, we will accept donations to the following addresses:

Bitcoin: 39VNgbYoV52nF7Ay5UgCieFFHX11acYfGH

Ethereum: 0xf23a483FE4F5734EfD5E50fC4821Cf3B86305dEA

Litecoin: MB3YD6ExbjxCATmg8t1mcbBo6z33YeWcV4

Dotcoin (Cryptopia): 0xbd6c93be74dccd5b466474428ed961f0c1352c0b

Note: Sending donations will not result in you being included in the token distribution or being sent any iGniter

tokens. These donations are established to ONLY be accepted as a method of payment for developing our

service OR if anyone desires to give us a friendly bonus/tip.

● Issuance Rate and Methodology

At launch there will be 50 million iGniter tokens. Initial token owners and anyone who calls

the appropriate smart contract functions shall be rewarded with newly mined iGniter

tokens.

Currently, the Ethereum block time average is around 15 seconds. The following calculations

were made based on this assumption; however, it should be noted that future updates to

the Ethereum blockchain can dramatically change the block time and thus the rate of

issuance of new rewards.

Approximately, 2102400 blocks will be mined in a year. With a reward of 0.000007 per block

for each initial address, each address would generate 14.7168 INR tokens per year.

This would result in approximately 74000 new tokens being issued in total per year and just

under 3 million new tokens being issued at the end of the 40-year period. This would lead to

3 million tokens being mined for initial token holders.

However, our development team felt that it was necessary for anyone to be able to mine

new INR tokens. Our view was that it would be unfair for only initial address holders to be

able to mine INR.

Therefore, mining functions with different tiers were designed within the smart contract,

each generating differing rates of INR and being triggered by varying means.

These functions are:

• dividendRegistration

• HODLRegistration

• Tier_Starter_Registration

• Tier_Basic_Registration

• Tier_Classic_Registration

• Tier_Wildcat_Registration

• Tier_Rainmaker_Registration

Description of Functions

dividendRegistration – enables the caller to mine INR at a rate of 0.000007 INR per block

HODLRegistration – enables the caller to mine INR at a rate of 0.009 INR per block. However, the calling

address needs to hold 100k+ INR in order to be eligible to receive these rewards.

Tier_Starter_Registration – the caller needs to send at least 0.01 ether to access this function. They are then

able to mine at a rate of 0.00003 per block.

Tier_Basic_Registration – the caller needs to send at least 0.1 ether to access this function. They are then able

to mine at a rate of 0.00036 per block.

Tier_Classic_Registration – the caller needs to send at least 1 ether to access this function. They are then able

to mine at a rate of 0.0042 per block.

Tier_Wildcat_Registration – the caller needs to send at least 10 ether to access this function. They are then able

to mine at a rate of 0.06 per block.

Tier_Rainmaker_Registration – the caller needs to send at least 100 ether to access this function. They are then

able to mine at a rate of 1.200000 per block

● Accessing INR

In order to transfer any newly mined INR, token holders need to call the claimINRDividends

function. When this function is called, the number of INR tokens mined at THAT time are

assigned to the calling address.

If users try to transfer INR without calling this function, it is possible for a transfer error to

occur.

e.g Alice owns 139.029 INR, according to the balanceOf function, however, when she last

called the claimINRDividends function, her balance was 112.498 INR. Therefore, if she tries

to transfer more than 112.498 INR, an error will occur. She would need to call the

claimINRDividends function again in order to be able to transfer more than 112.498 INR.

● Exchanges

As we are not conducting an ICO, there are no funds to pay exchanges to be listed.

However, we shall be in touch with various exchanges in an effort to get iGniter listed.

iGniter (INR) Bounty Requirements

There is no initial coin offering (ICO) as our team believes that it can be fully built in house.

None of the initial addresses will be owned/controlled by the iGniter Development Team at

launch and after the completion of bounties.

All tokens shall be distributed to those individuals who complete the bounty reward

requirements. If we are unable to meet the limit of 5000 addresses, the remaining supply will

be burnt by the developers in early January 2019.

All entries submitted for bounties must be filled into the following Google form document.

Users must also include proof of fulfilling the specific requirement to claim the associated

bounty.

Multiple addresses are not allowed unless specified. All submitted addresses must have at least

five transactions associated with them prior to 2018/01/22 (unless the bounty reward enables

multiple addresses).

Anyone who has been identified as having submitted more than the specified number of addresses, will be

disqualified from receiving the bounty rewards.

Bounty Methods:

There is a maximum of 5000 addresses.

[20% Supply] Group A: Initial Addresses claim the full reward of 10000 INR tokens

[40% Supply] Group B: Joining our Discord, Telegram & Reddit pages (25%, 75%)

[5% Supply] Group C: Social Media Promotions (25%, 75%)

[5% Supply] Group D: Translations and Forum Signatures (25%, 75%)

[10% Supply] Group E: YouTube Videos & Web Articles (25%, 75%)

[20% Supply] Group F: Reserved for future bounties

Some of the bounty reward stages are distributed based on the completion of bounty requirements. In the first

stage of these type of bounty rewards, 25% of the bounty is claimed initially and upon completion the remaining

75% is issued.

Groups

Group A

Requirements: Original holder of iGnite (iGn); provide iGn address.

To claim reward, join our Reddit page and our Telegram group. (100% bounty)

Group B

Requirements, Part 1: individuals need to join at least two of the following (Discord, Telegram,

Reddit) and make at least three satisfactory contributions over a period of one week. (25% bounty)

Requirements, Part 2: individuals need to be actively posting for a period of one month. Posts

need to be satisfactory; 20 posts are required over a period of one month (with a minimum of 5

weekly). (75% bounty)

Group C

Requirements, Part 1: individuals must share our posts OR create their own posts on either

Facebook or Twitter (at least 3 times). Accounts need to have at least 100 friends/followers. (25% bounty)

Requirements, Part 2: individuals must share our posts OR create their own posts on either

Facebook or Twitter (at least 10 times) over a period of two weeks. Accounts need to have at

least 100 friends/followers. (75% bounty)

Group D

Thread translations receive one address.

Whitepaper translations receive two addresses:

Roadmap translations receive one address.

Five addresses are assigned to approved individuals who complete combined translations of

our thread, Whitepaper and Roadmap. (100% bounty)

Group E

YouTube/Social media videos with 1000 to 5000 views can submit one addresses.

YouTube/Social media videos with 5000 to 20000 views can submit two addresses.

YouTube/Social media videos with over 20000 views can submit five addresses.

Web articles can be posted anywhere online. Articles with verified high traffic views can claim

between two to five addresses, depending on their performance.

For both YouTube/Social media videos & article bounties, the 25% bounty payment is based on when the video or

article is posted, and a claim is submitted.

The remaining 75% claim of the bounty is based on the performance of the content.

Group F

Reserved for future bounties.

Bounty Distribution Stages

The bounties will be completed as scheduled below. Tokens shall be distributed appropriately

to qualifying addresses.

Bounty Distribution 1: February 9 – February 14, 2018

Bounty Distribution 2: February 20 – February 26, 2018

Bounty Distribution 3: March 5 – March 12, 2018

Bounty Distribution 4: March 19 – March 25, 2018

Bounty Distribution 5: March 31 – April 6, 2018

Bounty Distribution 6: April 11 – April 18, 2018

Bounty Distribution 7: April 24 – April 30, 2018

Bounty Distribution 8: May 5 – May 11, 2018

Note: Dates are subject to change and bounty distribution stages may be added or removed as required.

Roadmap

January 21, 2018

iGniter Smart Contract launch.

January 23, 2018

iGniter announcement & the start of bounty reward entries.

January 23, 2018

Creation of Marketing & Communication Pages (Reddit, Telegram, Discord, Facebook, Twitter).

January 23, 2018

Launch of iGniter Token Creation & Management Service.

January 28, 2018

Beginning of bounty distribution. The current schedule can be found below.

Bounty Distribution 1: January 28 – February 3, 2018

Bounty Distribution 2: February 9 – February 14, 2018

Bounty Distribution 3: February 20 – February 26, 2018

Bounty Distribution 4: March 5 – March 12, 2018

Bounty Distribution 5: March 19 – March 25, 2018

Bounty Distribution 6: March 31 – April 6, 2018

Bounty Distribution 7: April 11 – April 18, 2018

Bounty Distribution 8: April 24 – April 30, 2018

January 2018

First exchange listings.

February to April 2018

Listing on additional exchanges.

● Funding

Our team does not believe that our token requires the issuing of an initial coin offering (ICO). We

are firmly of the view that it can be fully developed in house and therefore we are not conducting

an ICO.

However, we will accept donations to the following addresses:

Bitcoin: 39VNgbYoV52nF7Ay5UgCieFFHX11acYfGH

Ethereum: 0xf23a483FE4F5734EfD5E50fC4821Cf3B86305dEA

Litecoin: MB3YD6ExbjxCATmg8t1mcbBo6z33YeWcV4

Dotcoin (Cryptopia): 0xbd6c93be74dccd5b466474428ed961f0c1352c0b

Note: Sending donations will not result in you being included in the token distribution or being sent

any iGniter tokens. These donations are established to ONLY be accepted as a method of payment

for developing our service OR if anyone desires to give us a friendly bonus/tip.

● Exchanges

As we are not conducting an ICO, there are no funds to pay exchanges to be listed. However, we

shall be in touch with various exchanges in an effort to get iGniter listed.

Name: iGniter

Ticker: INR

ERC223 token

No ICO

Trustless, fair launch

Self Mining Smart Contract

Initial Addresses: 5000

Tokens per Address: 10000

Initial Supply: 50,000,000

Decimals: 6

Mining: Around 40 years

Reach iGniter on

Website – http://ignitetoken.com/

Reddit – https://www.reddit.com/r/IgniteToken

Discord – https://discord.gg/SMU4fKa

Telegram – https://t.me/joinchat/HTy9cE0Z-FE3kXUTzzkEfw

Medium – https://medium.com/@iGniterToken

Ann Thread – https://bitcointalk.org/index.php?topic=2808192.0

Reach Me On

Bitcointalk Username: milobubu

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2091970

ETH Address: 0x533330b7Aa38D23FEF62e4894d5f5d8680405696

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Publication author

offline 1 year

Ade Hilman Negara

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Comments: 0Publics: 51Registration: 10-05-2018
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