tl;dr: There's a new Stellar based blockchain project. We're called PayCoupons, and right now we're running two airdrop campaigns. The first is for everyone (capped by volume), and you get 10 PCT ("PayCoupons Tokens") for signing up and 10 PCT for each other person you refer. The second is for Stellar Lumen (XLM) holders only, runs until Oct 15, and you get 5–540 PCT, depending on how many Lumens you held on June 13. Get your tokens here.
(Source: own modifications, original by James R. Ferguson, public domain, via
Wikimedia Commons)
For more details, read on:
What it is. PayCoupons is a new way to do trade (exchanging products and services). It does not use "money", but a computerized form of "old-school" bartering. Just that we made it much more flexible by doing bartering in circular and even network shape ("network barter"), not just one-on-one. This way, we don't need money as a universal product anymore, and all the issues it comes with go away, esp. the liquidity shortages.
Now, a bit more currency theory: in our system, users don't exchange products and services directly, but coupons for them. This is more generic – like a self-issued "mini currency" for every user. This way, users can issue new "currency" when they need to, instead of experiencing a liquidity crunch. And still, no central authority is needed that maintains the currency value, because there is no single currency that everyone depends on. If any participant is overdoing it (say, a bakery issues 1 billion USD equiv. in coupons), that currency will experience hyperinflation and be dead soon, but the rest of the system is fine. We think that this is an elegant solution to the unsolved problem that typical blockchain currencies have: how to regulate the currency supply both in a decentralized way and on demand, as needed for the goods and services economy.
Why is it on Stellar? We have worked on this system for more than 5 years now, before the "tokenize everything" hype started. Funny thing, it is technically still not possible to implement our whole system using blockchain technology (needs some breakthrough in isomorphic / functional encryption first … more details on request, I plan writing about that some day). However, a payment token for the usage fees of the pay.coupons platform is very useful because we especially want to work in the economies of emerging markets / developing countries, and people there often don't have the "normal" means of payment on the web (credit cards, PayPal). And after looking at Stellar, EOS, Ethereum, Bitball etc., Stellar turned out to be a high-quality platform with features that are very "nice" for new tokens (Stellar Dcentralized Exchange) and for our potential future tech needs if and when we might bring the whole system to the blockchain (Stellar's atomic transaction with many accounts will be useful, though not enough yet for our needs).
For all the tech details about the project, including our (quite revolutionary) offline payments feature, you can read our whitepaper.
More about the airdrops? For all other details about our airdrops see our PCT Token Page. See also my following articles about the individual airdrop campaigns:
… and of course, you can ask here about anything that caught your attention. Happy to discuss cryptocurrency tech (blockchain and not), currency design etc..
--Matthias
