Aracon UBI

A cool opt-in UBI proof of concept for Aracon 2019.

Flow

The contract flow is splitted in two periods:

• contribution
• collection

Contribution period

Anyone can give ETH to the contract to be collected later by token holders.

People making money from Aracon are encouraged to contribute.

Other functions are disabled

Collection period

• We don't accept ETH anymore (though we have to consider the fact that the contract may still receive some, for example via selfdestruct calls)
• Token holders can claim a percentage of the contract's balance

1. Token holder calls contract
2. We compute the share as toSend = this.balance / (tokenSupply / tokenBalance) which equals to toSend = (this.balance * tokenBalance) / tokenSupply
3. We burn the tokens of the holder, tokens vanishes!
4. We send him its reward