Today the platform is best known for its transaction speeds and its lively CEO. Specifically, the platform is capable of 2000 transactions per second. This performance puts TRX on par with major payment processors such as PayPal. Best of all, TRON has zero transaction fees.
Tron, being one of the most surging cryptos, it has very good potential to grow in the market. Tron ranked 56th a few months back, but now it has secured the 13th position according to CoinMarketCap. As Tron is being emerged from Ethereum, there are good possibilities for it to reach 0.4 USD in the coming 5-8 months.
Trade TRX for tokens. The more TRX in-contract, the more valuable your tokens. Pay your taxes (10% per transaction) and watch the dividends roll in while you Hold On for Dear Life.The key here is PATIENCE: there are withdrawal penalties without it. After 30 days, you’re eligible to extract 100% of your deposit. But before then? Learn to live with much, much less.
Goal: Create a decentralized, autonomous, revenue-producing digital token that gets stronger as you hold longer, counter to the boom-bust lifecycles of cloned hourglass-style contracts.
Why not CETO? The basic structure for the CETO contract comes from the well-proven, hourglass-style Proof of Weak Hands 3D open-source contract. P3D is a revolutionary economic model currently playing out on the Ethereum blockchain. The P3D smart contract has handled over 581K ETH (~$167M USD on average $287.95 USD/ETH) between February 16-December 29, 2019, with 58K ETH ($16.7M) paid out through the smart contract. Open-sourced and peer-reviewed for security, the P3D smart contract handles everything automatically, trustlessly, without human interference or manipulation: code is law.
How It Works
The basic structure for the Crystal Elephant Token (CETO) contract will come from a clone of the well-vetted and audited P3D open-source contract – also known as an hourglass contract – with modifications made to incentivize longevity. Tokenholder is encouraged to hold tokens for 30 days+ or suffer a sliding scale of penalties for early withdrawal. Penalties are added to the transaction fee and distributed to other tokenholders.
Process: Exchange Tron (TRX) for tokens that rise or fall algorithmically with every sale. Ten percent of funds from every transaction – deposited, withdrawn, or transferred – are taxed and proportionally distributed to all tokenholders as dividends. Penalties as high as 75% will be assessed for those who withdraw before 30 days.
Most hourglass contracts suffer from pump-and-dumps – early adopters/users getting in early and withdrawing their funds later at the same time – thus endangering their lifecycles. CETO offers strength through consistency.
Strength: Exchange TRX for CETO, which rise and fall in TRX value with every purchase or sale of tokens.
It’s a bit complicated and very math-based – bear with us. Each token bought goes up incrementally more than the token before it. If our initial token price starts at 0.001 TRX, the increment goes up by 0.0001 TRX for each additional token.
A 5 CETO buy would look something like this:
- CETO1 = .001/TRX
- CETO2 = .00110/TRX
- CETO3 = .00120/TRX
- CETO4 = .00130/TRX
- CETO5 = .00140/TRX (minus 10% transaction fee)
- Total: 5 CETO = 0.054 TRX
The same principle applies to selling CETO, only -0.0001 TRX for each incremental token sold.
Every transaction (buy, sell, transfer to another tokenholder) is taxed 10%, the proceeds of which are distributed to other CETO tokenholders as dividends. Your exchange of TRX for CETO (principal) is incentivized to be staked in the smart contract platform for 30 days, collecting dividends proportional to your percentage of overall token supply from all other transactions the entire time.
Dividends are free to withdraw at any time. Just like the P3D contract, dividends are free to withdraw without a fee. However, if a tokenholder wants to compound their principal to receive a greater share of dividends, they may reinvest their dividends into the contract (less 10% transaction fee), thus setting another 30 day incentive to keep the dividend amount in-contract.
Auto-reinvest! Just set it and forget it: Let the Jungle do all the work. If you want to reinvest your dividends every 24 hours, just tick a box, confirm, the contract will automatically reinvest all dividends in excess of its 5 TRX transaction fee, and go live your life! This unique feature makes it easier – and faster – than ever to build your value in the CETO contract. Feel free to stop it at any time.
Transfers are treated the same as a sale: early withdrawal penalties apply, as does the 10% transaction fee. The transferred tokens are treated as new principal, and are subject to the same 30-day penalty system for the recipient.
CETO is even future-proofed! As CETO is a standard TRC-20 token, fellow Elephants can build their own jungles using our tokens’ unique properties, while also sharing and contributing to the contract’s dividend pool. More dApps = more divs. Your only limit is your imagination!
Withdrawals of principal are as follows
- sell between 0-9 days (0-864,000 seconds), lose 75% of its value
- sell between 10-19 days (864,001-1,728,000 seconds), lose 50% of its value
- sell between 20-29 days (1,728,001-2,592,000 seconds), lose 25% of its value
- sell on or after 30 days, you receive 100% of your principal value
The early withdrawal penalties are combined with the standard 10% transaction fee and distributed to tokenholders as dividends.
- If necessary, create a Tronlink or other compatible web wallet
- Acquire TRX. If needing to use a fiat-to-crypto exchange, we recommend Bittrex or Atomic Wallet
- Transfer TRX (or restore your Tron wallet address) to your Tronlink wallet
- Create an account
- The CETO contract will connect with your Tronlink wallet
- Exchange TRX for CETO
- Enjoy receiving dividends
- Create and share your referral link for more dividends
- Hold more than 100 CETO in your wallet and create your own custom referral link to share with others
For more information about this project you can see it below:
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1011291
TRX Wallet Address: TJgbkWBVyLaTh8Vw9vGVvWNDDAdFC3uw3g