Addition to the OCLT issuance policy

OffChain Luxembourg is a community with a currency, the "OffChain Luxembourg Token" (OCLT)

OffChain Luxembourg receives the equivalent of "foreign direct investment" (FDI) from various sources:

1. Membership fees from new and exsiting members are transferred to @ocl-paymaster
2. Registration fees for our "Introduction to Blockchain, Cryptocurrencies and the Web3" course are also paid to @ocl-paymaster
3. The interest on the HBD staked in our ocl-trez treasury.

The objective of the OCLT token is to be a "weak currency" that complements the euro in the target economic zone. OCLT attempts to leverage it's feeless and peer-to-peer nature to achieve higher circulation velocity than the euro. It aimes to be "easier to earn, easier to spend" - or, how we like to say

"Open Money"

Our monetary policy faces the challenge of striking a delicate balance between money that is perceived as trustworthy (desirable) and strong (which might incite people to keep onto it and not spend it) and money that people spend with ease (because they can earn more easily than earning euro)

OCLT has a total supply of 1 000 000 000 000 (one trillion tokens). This total supply aims to support, at "cruise speed") a parallel, complementary economy generating an additional economic value equivalent of between 1Bln - 7Bln on top of the roughly €380Bln of GDP of the Greater Region.

The circulating OCLT is composed of:

1. token issuance to reward the members of the association for their contribution through membership fees (about 600 000 OCLT)
2. an initial issuance of 20 000 000 to support the work of the members of the association.
3. 48 000 000 issued to reward the "significant contributors" for their contribution to the ocl-trez treasury
4. 82 500 000 OCLT issued to ocl-ito1 for the first slice of the "initial token offering"

We note that only the 20 000 000 tokens in 2. are not backed by euros / HBD but rather by work. The general policy is to issue OCLT in response to euros / HBD entering the system.

Updated issuance policy

• all € inflows from the non-contribution activities should generate a new OCLT issuance at the rate of the contribution (currently 500 OCLT/€). This policy should be applied retroactively since Jan 1st 2025. This includes
  1. Memberships,
  2. Education,
  3. Interest income (for the time being).
• Newly issued OCLT is credited to @ocl-paymaster
• @ocl-paymaster adds 10% of HIVE income with corresponding OCLT to the LP.
• The remaining OCLT remains with @ocl-paymaster and is then distributed to nodes' budgets on an "as needed" basis.

For simplicity sake (and to account for all kinds of conversion fees), we do 1 HBD = 1 €

January 2025 implementation

As a consequence of the application of this policy and of the "FDI" of January, @ocl-trez has issued 667500 freshly minted OCLT to @ocl-paymaster.

https://he.dtools.dev/tx/c24ecd0a26e85d04a06f806c5333a59f49027cbd