Thanks

Table of Contents

• Thanks
  • Value
  • Creation

Thanks

Thanks is the default currency of ThankToken. It has the following aspects:

• Its value decreases over time

• Each person can continuously create tokens according to strict rules.

Value

The actual value of a ThankToken is calculated by its currency using a fixed formula of the currency that everybody accepts and trusts. Therefore the value itself is typically not fixed. That formula is influenced by the time elapsed since the ThankToken was created and the number of transactions that have been performed. For Thanks the formula looks as following:

value(token) = token.header.amount*(retain^age(token.header.timestamp))-(txfee*token.transactions.size)

With the following parameters:

• token.header.amount is the initial amount of the ThankToken.

• token.header.timestamp is the creation timestamp of the ThankToken.

• age(token.header.timestamp) is a function that determines the age of the token in days from its timestamp and the current date in UTC (stripping the date by truncating the time).

• retain is the daily retain factor (1-"demurrage per day") such as 0,9995.

• txfee is 0.00000001 (the minimum value that can be represented)

If you want a metaphor for this you can think of a ThankToken as a coin that erodes so its value decreases over time. So after one year (365 days) 1 Thanks is worth 0.83314661.

Creation

Each person creates new ThankTokens per day:

• P3: One ThankToken for Person income

• C0: One ThankToken for ComunityIncome of his Region

• C1: One ThankToken for ComunityIncome of his Area

• C2: One ThankToken for ComunityIncome of his Sector

• S0: One ThankToken for SustainabilityFund of his Region

• S1: One ThankToken for SustainabilityFund of his Area

• S2: One ThankToken for SustainabilityFund of his Sector

The amount of these tokens is defined by the following table for an adult (person of the age of 18 years):

Target	Amount/day	Amount/30 days	Amount/365 days
P3	33.33333333	999.99999999	12166,66666545
C0	11.11111111	333.33333333	4055,55555515
C1	11.11111111	333.33333333	4055,55555515
C2	11.11111111	333.33333333	4055,55555515
S0	11.11111111	333.33333333	4055,55555515
S1	11.11111111	333.33333333	4055,55555515
S2	11.11111111	333.33333333	4055,55555515
total	99.99999999	2999,99999997	36499,99999635