community-repo/helpdesk/testnets/constantinople

Launch

After the upgrade, all current roles, i.e. Storage Providers, Council Members and Curators will be fired from their position.

• A new set of initial role parameters will be set by Jsgenesis
• A new, initial council will be set by Jsgenesis

The new supply will be set to fixed number of tJOY - 100,000,000 (100 million)

• These will be created out of thin air.
• A total of 50% of the token supply will be distributed to existing members, and community members that had signed up for our newsletter, and claimed tokens.
• Testnet tokens currently in circulation will not be touched (although members will see an influx).

An initial fiat pool of USD 2500 will be reserved

• This means every tJOY is worth 0.025 cent at launch.
• Users can, after a grace period of 5 days, exchange their tJOY for USD at their convenience.
• Exchanging tokens will be burned immediately, thus decreasing the supply, and not affecting the exchange rate.
• The status of the network economics, instructions for how to, and tracking of, exchanges can be monitored at the new testnet page.

Going Forward

As all positions and roles on the network are paid in new tJOY minted, the supply will increase all else being equal. As this effectively decreases the value of each tJOY over time, all token holders will have an interest in not increasing the number of tokens more than "necessary". However, the network is designed to facilitate multiple ways for users to increase the value of their tokens.

• A weekly, pre-determined replenishment of tokens will be added to the fiat pool, independent of the supply.
• This will, for the first week, be USD 250.
• A weekly set of KPIs, decided by Jsgenesis, will be assigned a dollar value.
• If one or more of these KPIs are reached, the fiat pool will be increased, effectively increasing the value of each token.
• As all roles will be compensated in tJOY, community members can choose to stake their tokens to get one or more of these roles.
• As the roles require a variety of resources, such as technical skills, hardware, time, etc. depending on your preference, you can grow your tokens faster than the inflation.

With the new proposal system, users can propose changing parameters that the council will then vote on. As it will be in everyone's interest to spend as few tokens as possible to achieve as many of the KPIs possible, the council will try to maximize the efficiency, both to increase their token value, and to get re-elected for the role.