NOTE: ScienceCoins earned during the beta testing phase of the TOS platform will be tracked and saved in the users account, but will NOT be committed to the blockchain. It is expected that coins earned during this phase will be able to be saved to the user’s wallet once the TOS platform is released in production.
The Tera Open Science platform enables users to earn ScienceCoins. These are digital units of value that serve as the primary medium of exchange within a specific blockchain ecosystem, in this case the Polygon blockchain. ScienceCoins function as both a unique currency and a means to incentivize participation in the TOS system. The coins are secured by cryptographic methods and are transferred transparently and securely through blockchain networks, empowering decentralized finance and digital asset management.
Students, researchers and professionals earn ScienceCoins by participating and creating value in the Tera Open Science platform. There are many ways to earn coins: completing your registration, making referrals, creating and joining technologies and projects, posting jobs, sharing documents, academic papers and more; all these actions can earn ScienceCoins.
ScienceCoins cryptocurrency are awarded to you for your efforts of generating the intellectual content. Some of the activities that earn ScienceCoins are:
| All activities must be publicly appropriate, bona fide, and in accordance with the Terms of Service | ScienceCoin (SCI) - Basic | ScienceCoin (SCI) - Premium |
|---|---|---|
| User Registration | 350.00 | 700.00 |
| Referral Bonus | 500.00 | 1000.00 |
| Joining Project/Technology | 100.00 | 200.00 |
| Document Submission | 1500.00 | 3000.00 |
| Topic Commenting | 5.00 | 10.00 |
| Creating Project/Technology | 400.00 | 800.00 |
| Grant - Voting | 1000.00 | - |
| Lorem Ipsum | 10.00 | - |
Table 1: ScienceCoins Award Program List (subject to change).
The ScienceCoins are managed on the Polygon blockchain.
The ScienceCoins that are managed on the Polygon blockchain can be saved to a Metamask wallet. There is also an option to save coins to your own pre-existing wallet.
The current Wallet Disclaimer Policy for the TOS platform.
Why are ScienceCoins Important?
- ScienceCoins serve as a medium of exchange between students, researchers, professionals and scientists. Once a sufficient number of members of the community earns and can trade trade ScienceCoins, this can enable the power and flexibility of a seamless ecosystem of value creation for these coins.
- ScienceCoins enable seamless global value exchange. This worldwide capability to incentivize technology and project funding while driving innovation and collaboration can be powered by ScienceCoins.
- As the members increase the value of TeraOpenScience, the value of ScienceCoins increases. As the value of ScienceCoins increases, so too does the value of the TeraOpenScience platform and community.
- ScienceCoins holders can guide and influence the features and functions of the platform. Tera Open Science is committed to take the platform where its most avid participants, those that earn more coins, expect it to grow.
TeraOpenScience uses an Polygon blockchain mainnet-based ERC-20 smart contract for its ScienceCoins. As is normal for ERC-20 tokens, ScienceCoins will be stored on the Polygon blockchain mainnet using a smart contract and the “wallet” is simply an access point to the Polygon blockchain mainnet.
The wallet required for managing ScienceCoins is any standard Polygon blockchain wallet that supports ERC-20 tokens, and since ScienceCoins will be publicly tradable, any ERC-20 compatible wallet would be useful for managing ScienceCoins.
TeraOpenScience will provide an integrated open source wallet (MetaMask) for its users to receive, send and otherwise manage ScienceCoins. During registration, each user will gain access to the wallet. TeraOpenScience will encrypt the user’s private key with twelve words. TeraOpenScience will not have access to the user’s private key and therefore to their wallet.
If You Lose the Key to Your Wallet, You Will Lose Access to Your ScienceCoins. PERIOD!
TeraOpenScience does not have access to your wallet. If you lose your key, there is nothing we can do. NOTHING!
We recommend you back-up your key to “cold storage”; something such as a piece of paper that you store in a safe. Another cold storage device such as a Ledger, which you can gain through TeraOpenScience’s equipment exchange, is a cold storage device frequently used for storing cryptocurrency keys. In this case, we also recommend it be stored in a safe place you will not forget.
Again. You and only you are responsible for your wallet key. This is the power of the blockchain. You and only you have control over your funds. We are imploring and begging you to take this seriously.
Lose the key. Lose your ScienceCoins. Period.
TeraOpenScience plans to issue only 500,000,000 ScienceCoins. As the platform grows, both in terms of the number of active users and the number and types of transactions that occur between users, the demand for the ScienceCoins tokens (similar to cryptocurrency) will grow.
The economics of Supply and Demand dictate that growing demand will create deflationary market pressure2. To ensure economic balance during the growth phase, the Company has programmed the smart contract to enable the “burn” of 11.5% of the treasury. A “burn” is the removal of ScienceCoins from the treasury. It is important to note that no more ScienceCoins can be issued other than the initial treasury and no more than 57,500,000 can be burned.
Early registrants are provided ScienceCoins for adopting the Platform. The scientists’ contributions to research and collaboration earn ScienceCoins. Numerous activities of the scientific community can be awarded in ScienceCoins. Scientists will be able to utilize their coins within the ecosystem for the purchase of goods and services otherwise paid for by traditional payment methods or local fiat money. Hence, a true token utility is created within the scientific community and within the ecosystem. This coin combined with high number of scientists doing work should be recognized by ScienceCoins purchasers and should create a liquid market.
This fundamental ability to earn and exchange ScienceCoins for goods and services within the ecosystem, or simply to exchange them for other cryptocurrencies or local fiat currencies, is a huge opportunity for active participants and the purchasers of the ScienceCoins tokens (similar to cryptocurrency).
A healthy ScienceCoins ecosystem is paramount for TeraOpenScience and its members. To help you recognize the value for your efforts through the Proof-of-Science blockchain model, TeraOpenScience has a ScienceCoins Award Program (Table 1).
Some coin-enabled projects have utilized the concept of blindly sending tokens to blockchain addresses with a balance to quickly raise awareness and liquidity. While this “air-drop” concept is often successful in meeting these goals, this scattershot approach is seen as inefficient in that many of the recipient addresses are inactive or their owners are completely unaware, or uninterested in the received tokens and their utility. We believe the ScienceCoins are too valuable to simply conduct a marketing program with them.
The TeraOpenScience Award Program creates liquidity and ScienceCoins awareness, but directly with you. By managing the ScienceCoins awards menu carefully, TeraOpenScience’s community can help you value your efforts through the Proof-of-Science model.
Regular updates to the Token Award menu by the community will adjust the value of awards to reflect changes in the market price of ScienceCoins or the Proof-of-Science calculations.
As you collect ScienceCoins, we hope you will encourage students, colleagues, and those who care about science to freely use TeraOpenScience. The more people who use TeraOpenScience, the more valuable the ScienceCoins become, and that value comes directly back to you for using TeraOpenScience!
If collecting ScienceCoins is not of interest to you, please consider donating them to charities, foundations, and not-for-profits through our partner, American Impact Capital Foundation. But you are not limited to donating them. You can chose to issue grants for others or just simply give them away.
Please note: The ScienceCoins Award Program can be changed at any time through collaboration between TeraOpenScience and the community, particularly the addition or subtraction of events/actions as well as award amounts.
To improve upon this in a more focused manner, the TeraOpenScience platform’s Awards Program creates liquidity and ScienceCoins awareness, but directly with our audience: the scientific community. And, by managing the ScienceCoins awards menu carefully, TeraOpenScience can help the research community users value events. Regular updates to the Token Award List also allow TeraOpenScience and the community to adjust the value of awards to reflect changes in the market price of ScienceCoins.
The ScienceCoins Award Program will also help promote the network effect. As scientists collect ScienceCoins, they will care to promote the use of the TeraOpenScience platform and the purchase of ScienceCoins. For those researchers who collecting ScienceCoins is not of interest, they can donate them to charities, foundations, not-for-profits, and even issue grants.
