Tutorials:Web3 Introduction

Seasonal Tokens Overview

We will use Seasonal Tokens as an example because its four smart contracts form a self-contained ecosystem that can be studied independently from external market conditions, by paying attention to the price of the tokens relative to each other, and not measured in Ether or USD.

It is an innovative experiment in cryptocurrency technology, where the four tokens apply the economic principles of Bitcoin’s design:

1. Digital commodities produced by Proof of Work mining,
2. Limited total supply.
3. Decreasing rates of production
4. Regular Halvings
5. No governance, totally trust-less and decentralized
6. No Initial Coin Offerings, pre mining or any advantage to developers.

However, instead of using four separate blockchains, they operate within the Ethereum Virtual Machine.
This setup provides a fully closed ecosystem where users can gain hands-on experience in a relatively low-risk environment.

Four ERC-20 Token Smart Contracts:

• Spring, Summer, Autumn and Winter.
• Proof of Work mined on the Ethereum Network.
• Maximum Supply 37 million tokens of each type.
• Halving of Mining Supply every 3 years.

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The four tokens smart contracts are independent, they do not interact with each other, and they are identical, except for 3 things:

1. The name
2. Initial rate of supply
3. The Halving schedule, arranged in time so that every nine months the fastest token to produce becomes the slowest to produce.

Seasonal Tokens are mined on the Ethereum network. The cost of electricity, equipment and gas fees establish a connection with the real world economy giving the tokens a basic cost of production.

However, operating in the Ethereum network is expensive, for this reason the Polygon network is used for trading at a minimal cost.

To learn more:

Welcome to Seasonal Tokens