Soon 88 more people will be able to buy Time Mints from Chronologic at auction – joining the 3,245 savvy investors who already bought one. Like the name Time Mint implies, this project is all about “future value.”
A Time Mint creates new DAY tokens on a time schedule, but unlike bitcoin there is nothing else involved – only time.
Haven’t heard of DAY tokens? There’s a reason for that. The ICO was not merely the issuance of tokens. It was also – and more importantly – the creation and sale of Time Mints.
Here’s why that’s important: Time Mint owners have a tremendous incentive to hold onto their DAY tokens and even to buy more. So it’s hard to find any to buy.
Each participant in the ICO received a Time Mint loaded with 24 DAY tokens for every ETH they contributed. And here’s the kicker – each of those DAY tokens is programmed by smart contract to grow into 2-4 DAY tokens over the next 2-3 years as long as they are kept inside a Time Mint. Early contributors got a higher growth rate – called Chronopower. The first contributor started off with a 1% per day growth rate. (All growth rates are automatically cut in half every 88 days.)
These last 88 time mints will start with 0.5% per day chronopower. But they come loaded with 2,400 DAYs, which will automatically grow to approximately 5,000 DAYs over the next 3 years. No more time mints will be created.
THE FOCUS IS ON FUTURE VALUE.
So where does future value come from? As an accountant and lawyer with 15 years of valuation experience, I can tell you that every estimate of future value is by definition based on time. And thus ALL of the bond markets in the world, ALL of the trade finance markets in the world, ALL of the time-deposit markets in the world, and in fact EVERY financial market in the world – except cash transactions – is based on time.
Bitcoin may dominate the cash-transaction market in cryptocurrencies. But Chronologic is taking the blockchain into the much larger time-based financial market. Think of all the non-cash financial instruments that exist: bonds, certificates of deposit, promissory notes, bills of lading, escrow deposits, and other negotiable instruments of all kinds.
Every one of these non-cash financial instruments will eventually be replaced by smart time-based tokens. And the place to create them will be the Chronologic platform, which – you guessed it – will be fueled by DAY.
If you have a vision of the future, and can see yourself five years from now sitting on something better than a gold mine, you will be able to look back to today and realize that it was your choice to join the Chronologic project that made all the difference.