A bit of history

In the end of 2019 we’ve decided to begin working on community token based on PeerAssets technology that would enable us not only to cover the costs of Slimcoin project’s development in a fair, decentralized manner, but also to help other projects that our community would consider worth supporting. The discussion about the details of protocol was publicly available since the beginning and can be still consulted on Reddit.

What does “PoD” stand for?

The acronym “PoD” means Proof of Donation. We’ve instinctively chosen this term to define our token in analogy with Bitcoin’s Proof of Work and Peercoin Proof of Stake terms. In fact the token will be released as a proof of having donated funds to the proposals approved by Slimcoin’s community. However we’ve discovered later on that there are other projects that are using the same term to do somewhat similar to what our token will be used for. Thus we are going to change this term in the future.

Why PoD token matters?

Since paradoxycally enough producing PoD tokens won’t be an easy task and also because the token itself will confer the voting rights to use for the future projects and thus it will have a strong hodling incentive for those who’d like to have a say in Slimcoin projects and development, we are expecting the PoD token to has a higher market price compared to the amounts donated to produce it. But even if our expectations won’t come true and the market price of the PoD token will be lower than the originally donated correspective, being able to recover at least partially the initial donation is probably some kind of novellity.

PoD token documentation

PoD token is officialy in beta testing phase now. We’ve done an extensive testing of its functionality and are expecting the release of upgrade of the code to go on with testing and possibly with launch. So far the following documentation was produced: