Table of Contents
2. Project Vision
3. Project Details
4. Roadmap / Deployment plan
Mono Network is a Digital Currency organization whose essential operations are automated agreeing to rules and principles assigned in code without human involvement.
This self-sufficient ecosystem has the following characteristics:
1. Recognition in the existence of individuals and modules within the organization: Individuals and modules own a high degree of independence yet maintain close contact with each other. Independence means that each module has its own division of labor and close contact means a convenient way of communication between related parties.
2. Powerful accommodation ability within each module: Each module is able to maintain its equilibrium by accomodation
3. Unified objective and unique capability of individuals and modules: in order to fulfill the characteristics stated above, each individual and modules share the same objective and each of them would contribute to the objective in their own way.
2. Project Vision
The Mono Network core team is composed of top-tier experts with specialism in internet & blockchain technology, mathematics & developers experts and community volunteers.
The initial development of the Mono Network is mainly funded by anonymous sponsors and the project will continue to draw further sponsorship. Meanwhile we are in progress of forming Mono Network. We will announce the list of core team members, sponsors and advisors upon the establishment . As the Foundation and the core team own 25% of the total issued Mono Coins as development reward, these Mono Coins will be also be allocated to project sponsors and the further build-up of Mono Network ecosystem.
User Development Phases
Phase 1: from 0 to 100 thousand users.
Phase 2: from 100 thousand users to 1 million users. We will also establish community service which allows community members to contribute their ideas for defining the core development objective of next phase.
Phase 3: from 1 million users to 10 million users. During phase 3 we will develop a Mono Network value exchange wallet and launch it. By utilizing Mono Network’s digital currency technology, the use and transaction via an open internet platform will be fostered.
This wallet it will used only for in-game purchase.
3. Project Details
Mono Network is a new innovation that provides experience for users to earn Mono Coins, a product that you can earn on your mobile phone. By playing the roles of Pioneer, Ambassador and Verifier, Mono Network users will earn rewards in Mono Coins. In order to make Mono Coins valuable, Mono Network is specially designed as a network consisting of genuine people which fosters users to exchange goods, service and expertise in real life with their Mono Coins balance and eventually list Mono Coins on major digital currency for purchase in-game assets via Mono Coins
How does Mono Network work?
There are three main roles in Mono Network – Pioneer, Ambassador, and Verifier. Once you have pressed the thunder button to kick start your 24-hour earing session, you will earn Mono Coins with the formula of (base rate) + (base rate) x 25% x (number of active Pioneers in your earning team) in the next 24 hours until your earing session ends. Base rate as pioneer starts at 1.6 Mono Coins per hour, and will be down 50% to 0.8 Mono Coins per hour when total user base has grown to 100,000 user worldwide, a further 50% cut to 0.4 Mono Coins per hour when it grows to 1 million users worldwide, another 50% cut to 0.2 Mono Coins per hour when it hits the 10 million, another 50% cut to 0.1 Mono Coins per hour when it hits 100 million and eventually no new supply when Mono Network has reached 1 billion users worldwide. So the keys to earning more Mono Coins is to earn and refer new users to join your earning team as much as possible when the base rate remains high.
Every player will get the base rate at 1.6 Mono Coins / hour by logging in the app every 24 hours and clicking the Mono Coins button. You do not need to keep the app open after clicking the Mono Coins button and you will automatically get hourly rate. You will stop after 24 hours until you have clicked the Mono Coins button to start a new 24-hour session. Please note that the base rate as Pioneer will be reduced by 50% for 4 times depending on the growth of total user base until Mono Network ceases supply of Mono Coins when there is 1 billion user worldwide. The base rate as Pioneer will be reduced from 1.6-> 0.8 (when grown to 100,000 users), 0.8 > 0.4 (when grown to 1 million users),
4. Roadmap / Deployment plan
Phase 1 – Design, Distribution, Trust Graph Bootstrap.
The MONO server is operating as a faucet emulating the behavior of the system as it will function once its live. During this phase improvements in the user experience and behavior are possible and relatively easy to make compared to the stable phase of the main net. All minting of coins to users will be migrated to the live net once it launches. In other words, the livenet will pre-mint in its genesis block all account holder balances generated during Phase 1, and continue operating just like the current system. MONO is not listed on exchanges during this phase and it is impossible to “buy” MONO with any other currency.
Phase 2 – Testnet
Before we launch the main net, the Node software will be deployed on a test net. The test net will use the same exact trust graph as the main net but on a testing MONO coin. MONO core team will host several nodes on the test net, but will encourage more Pioneers to start their own nodes on the testnet. In fact, in order for any node to join the main net, they are advised to begin on the testnet. The test net will be run in parallel to the MONO emulator in phase one, and periodically, e.g. daily, the results from both systems will be compared to catch the gaps and misses of the test net, which will allow MONOdevelopers to propose and implement fixes. After a thorough concurrent run of both systems, testnet will reach a state where its results consistently match the emulator’s. At that time when the community feels its ready, MONO will migrate to the next phase.
Phase 3 – Mainnet
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the MONO network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and MONO network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the MONO developer community and MONO’s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software.Balances of fake users or duplicate users will be discarded. This is the phase when where MONO Coins will be ready for use in-app purchase app
IMPORTANT: MONO COINS IT WILL NOT EXCHANGE TO MONEY, TILL WE WILL BE SURE WE HAVE ONLY VERIFIED USERS AND WE COVER ALL LAWS RESTRICTIONS. THE MAIN PURPOSE FOR THIS APP IS TO CREATE GAME DIGITAL CURRENCY FOR IN-GAME PURCHASE APP.