Native, Offering Opportunities to launch prosperous communities!!!

crystannson (43)in #originalworks • 6 years ago (edited)

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Preface

The use of fiat medium as a means of exchange originated from China at around 1,000 AD in a bronze shelled form called “the Chao” by the Native of this country. This was followed by an era in which currencies that are backed by the government have dominated the global economy. This system was folly dependent on the government and authorities in powers. As long as citizen needs met and efficient communities created, the system could function with user support.
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Then came the crypto and blockchain technologies. In 2008, Bitcoin proposed the first ever complete decentralized P2P financial system that was fully independent of decision and actions of the authorities. Then came others with more modifications like ETH etc all built on a basic technology which is an independent ledger with a decentralized system of transaction validation. With these innovations it is now possible to store wealth in smaller communities that are recognized within global valuations.
On the other hand, some challenges of the crypto tech includes savvy behavior of some financial buoyant individuals to others, fraudulent and illicit activities and inefficient or inadequate applicable utility for users with lesser technical know-how. Currently, strategies exist to tackle these challenges.
The challenge that currently exist is the inadequacy of structures for non-technical communities to develop local currencies and non-existence of mechanisms to value them against each other in a global framework.
Another is that systems which posses extra large scopes lack the ability to effectively provide needs of all using the systems.

What is Native?

Native is an Ethereum-based platform which offers basic structures to communities based on personal or local currencies owned by such communities and a set of decision–taking tools. The platform provides already prepared. Templates that meet various communities needs.
Hence, a community with less technical knowledge and less economical resources can partake in existing financial platforms.
On native it is very easy to create a community. Any local/digital collective who come together possessing a common vision, purpose or goal.

Let’s examine some basic benefits of igniting communities with the platform:

Capital rising by means of token issuance, which becomes a better substitute for traditional methods like crowd funding, bank loans etc.
Native allows collective decision-making through it polling feature.
Native exposes its users to the ability to redeem value within a global framework

Native users

The following are the different categories of users that are available on native

Curators

They are the administrators of communities on Native. The primary functions of this set of users is to ensure that all contents introduced to members of a community is suitable and also it is their duty to validate, deny or approve tasks completed by community members.

Members

Individuals enroll in communities that match their values and interest. They are the ultimate decision-makers with the ability to change erring curators.

The Native architecture:

Native is primary made up of the native token and community currencies. For more understanding it would be better to discuss sections that will give more information.

Token overview

All tokens with native are deployed in the form of Bancor smart tokens this explains that this tokens offers possibility of being reserved on a based currency. This feature added to the autonomous market protocol offers transparent and fair market conversion between any tokens in the absence of another party.

Continuous token model

This model utilized by these smart tokens, it implies that tokens are minted and destroyed as individuals interact with smart contracts.

Below are the benefits of the continuous token model.

At calculated price, tokens have instant liquidity
Market indicators with higher degree of accuracy
Currency values are based on real results and not mere speculations.

Deposits

Funds inputted to a token contract are split into three parts:

Community fund (for community expense), Smart token converter (modifies price and supply based on connector weight)
Connector balance
(For more technical information on the redemption and price formulars etc. visit the Native whitepaper).
Native Tokens and community currencies:
The Native token (NTV) is the fundamental currency on which the local and community tokens on native are based on NTV conversions will follow the split below:
Community fund - 50%
Smart token converter - 10%
Connector Balance - 40%
Initial local currencies will be split as followed
Community fund - 80%
Smart Token converter - 10%
Connector Balance - 10%
Subsequent splits will be determined by accessing community performance, size and type.
(Read more on community features like dashboards and community currencies in the Native whitepaper).

Summary

Native platform is an Ethereum-Based platform that enables users to generate communities with local currencies different from the basic Native tokens and effectively manage their resources using effective tools. The purpose of Native as founded by Jake Vartanian is to offer equal opportunities for individuals to launch unique community tokens all having functional standards. Native is a revolution to build prosperous communities.