Author Topic: Rstory - Creation of PA19 and Token Supply, Distribution, Allocation  (Read 384 times)

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Offline iamredbar

This post will try to summarize in fewer words what the two reference posts below cover. I still highly suggest reading both of the reference articles, as they are more in-depth.

Introduction post: https://bitsharestalk.org/index.php?topic=27737.0
First reference post: https://steemit.com/cryptocurrency/@insightgreen/insight-green-llc-january-2019-company-statement
Second reference post: https://steemit.com/cryptocurrency/@insightgreen/rstory-official-launch-token-supply-distribution-allocation-etc

PA19
PA19 stands for Primary Asset 19. This asset was created by Insight Green, LLC. in December 2018. PA19 wholly consists of the memo from transaction 591576bcdee0d9168efc9d02a120028d75e15ef2 on the STEEM blockchain. Here is what it reads:

INSIGHTGREENLLCESTIMATEOFPROJECTEDCALENDAR2019TOTALGLOBALINFORMALECONOMYEQUIVALENTGDPEXPRESSEDASUNITEDSTATESDOLLARVALUE=10000000000000

In a more readable form, it looks like this: "INSIGHT GREEN LLC ESTIMATE OF PROJECTED CALENDAR 2019 TOTAL GLOBAL INFORMAL ECONOMY EQUIVALENT GDP EXPRESSED AS UNITED STATES DOLLAR VALUE = 10,000,000,000,000"

Quote from: Reference Post 1
Insight Green, LLC's PA19 estimate primarily relies on information published in the following book:

Neuwirth, Robert (2011). Stealth of Nations: the Global Rise of the Informal Economy. New York: Pantheon.

What are the Informal Economy and Corporate Gratitude?
A majority of the world operates on what is called an 'informal economy.' This can be described by the definition supplied by businessdictionary.com, "System of trade or economic exchange used outside state controlled or money based transactions." The people who are employed in the informal economy do not have the luxury of the protections of the law that those who are employed by the formal economy have. Examples of these are sufficient pay, insurance, sick time, vacation, etc. PA19 states that the informal economy is worth around 10 trillion USD, so this is a good place to start trying to solve the problem of the unprotected majority of the world.

Insight Green used PA19 to create a basis for measurement of corporate gratitude. Since businesses cannot necessarily have gratitude, because gratitude is a feeling, this translates to having 'corporate values.' Insight Green then took one of their corporate values and set it equal to PA19. This value can be considered as discrete, indivisible units of gratitude (DIUGs). A quote from Reference Post 1 talks further about it:

Quote from: Reference Post 1
... because Insight Green's DIUGs are neither more nor less than standardized unit measures, which represent neither more nor less than abstracted components of an indivisible and intangible corporate asset, these items have no financial value whatsoever, and can not be separated in whole or part from Insight Green by any process.

Along this line of thought, PA19 is the same value as the global informal economy and also the same value as one of Insight Green's DIUGs. What if these DUIGs were put to use?

Quote from: Reference Post 1
These qualities suggest that Insight Green's DIUGs may usefully serve as the basis for a novel type of financially worthless business instrument, tokenized corporate gratitude, issuable in single units or multi-unit baskets, up to a annually-updated maximum.

Insight Green has the opinion that “many people working in the informal economy are insufficiently compensated, as are many who derive limited incomes from formalized sources but volunteer their time in both formal and informal capacities to better identify or meet the needs of informal workers or society at large." Having this opinion is a great thing to have, but there are very few ways to actually put this opinion into action to fix the issue.

Quote from: Reference Post 1
This plan begins with expressing corporate gratitude according to a set of clearly defined business procedures, using the figure from the estimate contained in PA19 as a base number, which is symbolic of Insight Green's gratitude for all of the people participating in economic activities without receiving fair compensation from the accessible marketplace, or benefiting from the manner of treatment that in practice characterizes the treatment of a preferred class of natural persons by institutional and other authorities in many jurisdictions.

By tokenizing these DUIGs, Insight Green created a financially worthless token symbolic of the gratitude of Insight Green. This draws attention to the issue of disproportionate compensation for those in the informal economy and one that expresses gratitude to those same individuals.

The combination of the DUIG tokens from Insight Green and having a solid business procedure, Rstory (RUSTY) on BitShares and RStory on Waves are a binary-state token solution to compensate those in the informal economy. Rstory is a binary-state token by being either in 'tude' state or 'rusty' state (more on 'tude' state and 'rusty' state in Reference Post 1). The business procedure of issuing Rstory tokens is called Conferral of Gratitude (COG). COG defines the terms that Insight Green sets for those Rstory tokens to be transferred to designated 'custodians.' "Each batch label is here termed a basket, and each unit is designated a number up to the quantity contained therein" (Reference Post 1). This process is more clearly seen and understood in Reference Post 2, where this takes place for the first time in the post itself, and the further accounting of the 'tude' state tokens in the comments.


Rstory Token Supply, Distribution, Allocation
Maximum Supply
1% of 1% of PA19 for 2019 (1 billion)
10% of 1% of PA19 for 2020 (10 billion)
1% of PA19 for 2021 (100 billion)
PA19 for 2022 (10 trillion)

Below are the initial Basket conferrals.

Quote from: Reference post 2
Basket 1

Basket 1, qty 1, tude 1 was conferred upon Giving Tree Gardens on January 1, 2019 for providing Mr Bailey with food, water, and temporary shelter.

Basket 2

Basket 2, qty 56,500, was conferred upon Mr Newell and Mr Bailey on January 12, 2019 for expenses incurred and labor provided to date for Insight Green, LLC. Gratitude units numbered 1 to 16,500 were conferred upon Mr Newell (totaling 16,500 units), and units 16,501 through 56,500 were conferred upon Mr Bailey (totaling 37,500 units)

Basket 3

Basket 3, qty 18,000 was conferred upon @greatdabu for varietal material and service contributions to Insight Green, LLC including extensive video production work, data purchases, and promotional message testing.

Basket 4

Basket 4, qty 1000, was conferred upon @kommienezuspadt to express gratitude for the shooting, editing, and delivery of a short Rstory promotional video.

Basket 5

Basket 5, qty 108,000, was created for the purpose of expressing gratitude to designated custodians for managing public relations with the Bitshares, STEEM, Waves, and Bitcointalk communities. Gratitude units numbered 1 - 27,000 are hereby earmarked for designated custodian @iamredbar. Of these, units 1 - 5000 are hereby conferred upon @iamredbar for managing Rstory public relations with the Bitshares community through the end of January, 2019, with the understanding that an additional 500 units/week shall be additionally conferred throughout 2019 until the total amount of 27,000 units has been conferred.

Important Note on Public Relations Custodians

This public relations precedent establishes the standard measure of Insight Green, LLC's gratitude for comparably high-quality public relations work with the STEEM, Waves, and Bitcointalk communities. Please comment on this post if you are interested in becoming part of Insight Green, LLC's gratitude custodian network by managing Rstory public relations in one or more of these communities.

Basket 6

Basket 6, qty 500,000 was created to fund Insight Green, LLC's estimated 2019 operating costs, with the understandings that a.) additional tokens may be arbitrarily created at any time if operating costs exceed initial estimates, and b.) Insight Green, LLC's tokens are financially worthless, so the company's actual revenue will very likely come primarily from standard information services contracts wherein clients pay the company with US dollars. Basket 6 gratitude units numbered 1 to 100,000 will be used to bolster Insight Green, LLC's financial wellbeing. Units numbered 100,001 - 200,000 will be conferred upon Mr Newell for the company's operations management. Units 200,001 - 500,000 will be conferred upon Mr Bailey for the company's executive management.

Basket 7

Basket 7, qty 360,000 shall be created for expressing gratitude to Google if Google and/or Alphabet, inc. publicly accepts custody of said 360,000 units and agrees to Insight Green, LLC's conferral of gratitude terms as described both herein and in a more detailed document to be developed and posted to the STEEM blockchain before the end of March, 2019. Basket 7 units numbered 1 - 180,000 will be conferred as tudes upon Google/Alphabet, inc. for distribution to each and every employee and non-employee contractor contributing to Google's establishment and maintenance of the services and open-source code which function as critical infrastructure relied upon by Insight Green, LLC. In addition, basket 7 units numbered 180,001 - 360,000 will be conferred upon Google/Alphabet, inc. as rustys for distribution to each and every employee and non-employee contractor contributing to Google's profoundly efficient internal communications network, which Insight Green, LLC views as a beautiful example of how complex communication structures can be used to overcome high-level governance challenges inherent to vast and critical endeavors. Please note that the employee and contractor figures above are estimates derived from: https://www.bloomberg.com/news/articles/2018-07-25/inside-google-s-shadow-workforce

Also note that Insight Green, LLC is unable to participate in distributing these basket 7 gratitude units beyond either one or two transfers of tokens to an officially-designated entity.

Basket 8

Basket 8, qty 3,652,500 shall be created for the purpose of securing the services of a media production team/company for calendar year 2019, if such a team/company elects to contact Mr Bailey, and if terms for a conferral of gratitude contract of this size can be agreed on by Insight Green, LLC and said team/company.
« Last Edit: January 21, 2019, 01:37:20 am by iamredbar »
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Offline Customminer

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Re: Rstory - Creation of PA19 and Token Supply, Distribution, Allocation
« Reply #1 on: January 23, 2019, 03:17:55 pm »
Seems unrealistic to expect Google/Alphabet to participate. Can you give a short TL;DR what this is?

Offline iamredbar

Re: Rstory - Creation of PA19 and Token Supply, Distribution, Allocation
« Reply #2 on: January 23, 2019, 03:57:04 pm »
Seems unrealistic to expect Google/Alphabet to participate. Can you give a short TL;DR what this is?

Never ask, never receive  ;) better to ask them rather than not at all.

TL;DR
Rstory (RUSTY on BitShares and RStory on Waves) is a financially worthless, binary-state token that is the corporate gratitude of Insight Green, LLC. It is a binary-state token because when initially transferred to the custodian, they are in a 'tude' state. When used by individuals in a marketplace, it is now in 'rusty' state. The record keeping of the current state of the tokens, as well as all issuance is done on the STEEM blockchain. Issuance takes place using COG (Conferral of Gratitude).

Rstory is aimed at those that are in the "informal economy." This can be described by the definition supplied by businessdictionary.com, "System of trade or economic exchange used outside state controlled or money based transactions." Most of the world operates on the "informal economy." Those who work in the informal sector often lack the security and fallback that those who are in the formal sector have. Insight Green, LLC. has the opinion that “many people working in the informal economy are insufficiently compensated, as are many who derive limited incomes from formalized sources but volunteer their time in both formal and informal capacities to better identify or meet the needs of informal workers or society at large."

I would definitely still recommend reading the whole post, because it fully explains where the idea comes from.

Thanks for checking it out CM!
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