Ace Coin (XAC)¶
Ace Coin (XAC) is a utility, algorithmic stablecoin which value is defined by the amount of traffic consumed in relation to that part of person's lifespan which was spent for watching content
There is no initial issuance of XAC.
Ace Coins are issued automatically as the part of payment process (when paid for services related to content generation). The issuance amount corresponds to real need for this digital currency, according to the algorithm embedded in the system.
Ace Coins are being generated by system smart contracts when the Network user consumes traffic, content and services, and pays for them with Ace Tokens. All Ace Tokens received as payment are burned and then replaced with an equal amount of automatically generated Ace Coins. XAT/XAC are exchanged at the rate obtained from the DEX (decentralized exchange which is the part of the system).
There is no other way Ace Coins created. Thus, all Ace Coins will represent the very real users' needs in traffic. content, services, etc. in relation to time, spent for its consumption.
Apart of automatic emission, Ace Coins priced automatically basing on current traffic costs. Details here
As a result, we get a stable coin that has collateral for the most valuable resource of the online world - traffic/content, and the most valuable resource of the offline world - a person's life time spent watching video content.