Introducing ATM: a community based on Relative Consensus
LUCA token launched to allow investors to earn a passive income
On Friday, 15th of October, Autonomous Trust Momentum (ATM) launched LUCA, a digital currency that will allow users in the community to earn a passive income. During the launch event, investors will be allowed to “stake” BUSD, (i.e. deposit by agreeing not to withdraw their amount for a specified period) by a direct investment that will make up the initial liquidity of the coin. They will then receive a reward at the end of the launch (Thursday 22nd at midnight, hurry if interested!), calculated proportionally to the amount invested.
After the launch, users who want to invest will have to execute a “consensus contract”. First, one user invites the other to participate, similar to adding a friend on Facebook or other social networks. If the other user accepts, the contract is executed, and the two decide how much they want to invest and for how long (lock-up period). They are then rewarded with additional LUCAs based on their connection parameters by earning extra revenue while preserving the value of their investment.
But what differentiates ATM and LUCA from other digital currencies or cryptocurrencies?
ATM is a meta-community based on the new concept of “relative consensus”. Once two users execute a consensus contract, they won’t be able to cancel the contract independently for the duration of the lock-up period unless they both agree to terminate it. Thus, as more and more consensus contracts are created, an increasingly complex network will gradually take shape: a socioeconomic network known as the Relative Consensus Network.
According to ATM’s founder Lottfi Zaouini, these technologies will give birth to a new blockchain-native social network, one that will incentivize users to build long-lasting relationships based on trust. Similarly to what happens on Facebook, for example, where it is not feasible for a user to switch to an alternative network without giving up its social circle.
PR Score: Ranking Users on Connections
As social networks reward users with the largest network of friends, ATM uses a sophisticated algorithm named ATMRank to rank the influence of users in their relative consensus network. As a result, users that contribute the most to community growth will receive more significant rewards. ATMRank uses the consensus between users to calculate the PR value of each user in the ATM network, similar to how Google’s PageRank uses links between pages to rank search results based on their influence. ATMRank uses connection parameters like strength (value), distance, and currency coefficients to calculate each user’s PR value.
Wormhole: Connecting different public chains
What if users who have wallet addresses on different public chains want to connect? ATM developed a smart contract called “wormhole”, which makes sure that the addresses on two public chains can be regarded by ATMRank as a single node in the relative consensus network. Similar to a wormhole in physics that connects disparate points in space-time, the ATM wormhole allows the merging of cross-chain addresses across different public blockchains to bring together fragmented networks in a single community.
Governance and Community Autonomy
As a decentralized, distributed system, ATM is governed by its community. Members of the community will submit suggestions on anything from the mechanisms of ATM itself, algorithms and technical architectures. Then they vote on them using the ATM Governance Token, or AGT. AGTs are distributed to community members based on the amount of LUCAs they own and the length of the lock-up period. Common proposals include:
- Adding new public chains support to expand the ecosystem.
- Adding supported currencies.
- Altering currency coefficients.
- Accepting other currencies in the community fund.
Conclusions
Zaouini hopes that ATM will act as a “rich soil” where an ecosystem of decentralized finance applications (dApps — applications that use cryptocurrency and smart contract functionality to eliminate intermediaries and facilitate consumer autonomy) can prosper. By interacting with each other and feeding back into the community, hundreds of distributed projects can eventually give birth to a new decentralized economy.
