Question to the developers. You have it written. Was there an ICO?
No. Currently, we have more than 1850 ETH in contracts just by word of mouth. The money was not attracted from the general public, and the developers funded the entire project. And why did not you want to spend the bounty? Could collect much more.
So this coin works a little different then others. Let me try to clear some of it up.
Was there an ICO, how did it work?Coins are not mined. They are created by the smart contract when someone sends Eth to the contract address. ERC20 coins named P3D are issued the Eth address that sent the transaction.
ETH recived by the smart contract are held by the smart contract for everyone to see. At anytime you can sell your P3D back to the contract to get ETH out.
When coins are sold back to the contract they are dusted, and the total coin count falls. So if everyone sold back to the contract to get all the ETH back out, the coin count would fall back to Zero.
In a way it is a never ending ICO or revolving ICO.
The 1850 ETH in the contract, that is really 2717 ETH as of this moment is the public holding of all the people taking part in the game. No person has control over the funds in the contract, or in a way all P3D holders have control of the funds. Only the smart contract can send the money out, and is can only do that by someone selling P3D back.
The money was not attracted from the general public, and the developers funded the entire project?The project is just that one page of code, it cant be updated or changed, it will stay that way forever. Now the porject is in the hands of the people. Anyone can host a site that interacts with the smart contract, and anyone and access contract even without a website