At the time of writing this paper (26/06/2020), the world has been gripped by the rapid and unprecedented rise of the coronavirus.
A deadly disease that started in Wuhan, China, has now spread to 213 nations and territories, resulting in nearly 10 million infections and, sadly, 483000 lives lost. This has had a severe impact on both the global economy and everyday life for millions of people. The virus has struck fear into hearts around the world, resulting in border closures, large-scale quarantines and stock market crashes. Furthermore, this crisis has the potential to last for many more months, if not years.
Unfortunately, despite the best of intentions, governments around the world have been struggling to deal with the rise of the virus. Years of failing to recognize the urgency of implementing AI, blockchain technology, and Big Data into the structure of their governments has resulted in an inability to accurately track the spread of disease. In addition, overregulation of the medical industry means that vaccines and cures for viruses are unlikely to be developed quickly and in quantities needed.
It is vital that individuals from across the globe take up the challenge and try to succeed where governments have failed. Skilled, intelligent individuals have the opportunity to utilize neglected technologies (i.e. blockchain) and take power into their own hands.
Immunity Token is a deflationary ERC-777 token that aims to raise money for various charities around the world. Holders of Immunity Token (IMTY) can gamble these tokens on a number of different games to make a profit. As IMTY focuses on various diseases, games and burns will share this focus. To log diseases on the blockchain, Immunity Tokens will be burnt regularly according to levels of infection and death of the focused disease. So, let’s be a bit cynical and bet on how many people are going to die from covid-19 next week, it’s the right thing to do, after all, the money goes to you or charity!
Immunity Token is a radical and valuable addition to the rich tapestry of cryptocurrencies that exist today. It is the first and only cryptocurrency backed by proof of death (PoD), based on statistics obtained from the World Health Organization (WHO).
The way the currency is structured is simple and easy to understand:
• There is a set number of tokens in the world: 7,801,800,000.
• The total number of tokens = The population of the world at the time of minting Immunity tokens.
• As the number of infected/dead from the virus increases, so does the number of tokens that are manually burned every week. So for every one infection, one token is burnt and for every death caused by the virus, two tokens are burnt/destroyed. The burn function relies on statistics from the WHO and is burnt on request to the smart contract.
The fact that the number of tokens decreases over time, means that it is deflationary and should become more valuable over time as scarcity increases. The supply is also non-mintable, so no new Immunity Tokens can ever be created.
By putting the information regarding the number of infections and deaths on the blockchain, it enables this data to enter authoritarian countries uncensored (i.e. China’s Great Firewall). This allows people to understand the true impact of the virus and prepare for any potential situations accordingly.
The ticker symbol of Immunity Token is $IMTY and is currently tradeable on the Saturn Exchange and Bamboo Relay. The IMTY team will post specific sell orders on these exchanges, ether raised from the sale of IMTY will go towards donations and further development of the project. 20% of each sell order will be donated to charity, 60% is to be used for development and marketing of IMTY, with the remaining 20% to pay staff and miscellaneous costs.
When deciding on which blockchain ecosystem to use, the team behind Immunity Token decided to use the Ethereum blockchain. Since it has already been adopted by many developers and users, they decided it was the perfect platform for Immunity Tokens and its planned DAPPs.
Most if not all transactions are completed using smart contracts or dApps (Decentralized Applications). This ensures security and transparency. One of these dApps is the multi-signature wallet wherein to release tokens from the contract, two staff members must sign off on a transaction. dApps are also used for token burns and games.
Immunity Tokens will be sold at a set price on Saturn Network, the ether gained from these sales will be donated to a charity that helps combat the disease of focus. The price will be announced on Telegram and Discord.
• Donations: Tokens are sold to generate eth which is donated to charity.
• Games: There will be a number of different games to play with immunity tokens, giving investors the chance to earn more tokens while staying entertained. One of these games is a death-bet. Token holders can bet on how many people die and get infected by diseases such as Covid-19. Other gambling styled games to be announced, death bet and slot machine are currently in development.
• Hodl Program: Investors can choose to lock up tokens to earn interest on their investment. More on this to be announced in the near future.
• ERC-777 token that logs the progression of various diseases on the blockchain.
• Total supply of 7.8 billion tokens (matching world population).
• Tokens are non-mintable, burnt, gambled, and sold for Ethereum for donations.
• Tradeable on Saturn Network and Bamboo Relay.
• Community backed through Telegram and Discord.
• Most, if not all, token interactions operate on smart contracts for security and transparency.
• Multi-sig wallet to prevent dumping from dev/team.