A-Token is a Smart Contract. Its functions are
activated as every other
Smart Contract on the Ethereum Blockchain.
You can use any wallet that supports functions activation on the
Ethereum Bloclchain, for example: MyEtherWallet.
Click on the CONTRACTS tab of the site menu.
Insert Contract Address -
Insert the ABI –
Choose the BuyTokens function from the functions menu.
The BuyTokens function has no arguments, but remember to send
value which is, at least, twice the price of the A-Token.
Almost the same as the BuyTokens function, but, the
SellTokans carry an
argument for the amount of A-Tokens which you wish to sell.
Do remember that 1 A-Token is: 1000000000000000000.
The SellTokens has also a value to send which is 206000 wei or
Click on the CONTRACTS tab of the site menu.
Insert Contract Address -
Insert the ABI –
Choose the SellTokens function from the functions menu.
Insert the A-Tokens amount you wish to sell. Remember: One
A-Token is the minimum and it is written as wei.
Remember to send 0.000000000000206000 Ether value which is the
fee for this function.
The A-Token has beyond the BuyTokens, SellTokens and
ERC20 functions, two more important functions:
split() – where we
split the A-Token thus making it cheaper and
allowing more activity. The split function is workable whenever the
A-Token price exceeds 1 ether. The calculated factor to increase the
amount of tokens should decrease the price towards 0.01 ether.
burn() – where you
can delete A-Tokens that you own. This
function is used with other Smart Contracts that receive A-Token as fee
and need to delete it.
To develop and implement the best token on the Ethereum blockchain.
In order to build the best token we have learnt on different tokens
that were developed and focused our thoughts on those tokens. Every
token has the ability of holding value and thus this value can be used.
Tokens usually have an environment which was developed for their use.
We encountered successful tokens as well as unsuccessful ones. We mean
success – in the short time profitability of investors investing in
those tokens. There is no long term study on tokens which are
relatively a new phenomenon.
We have chosen the A-Token name because it is the first option for the
"A" symbol token. Well…. We also thought on the A-team….
A-Token is better than owning the A-Team
Different people have different ideas on the definition of best token.
Some wish that it will make high returns, some wish that it will be
conservative, some wish it will be managed, some wish that it will be
We think that the best token has to have the features we have given our
A-Token. Most importantly in our minds are the: transparency of the
A-Token Smart Contract, the less risk involved in dealing with
it, being operate-able from day one and being businesslike.
Through our study of different tokens
we learnt that most of them give
free tokens to their customers, entrepreneurs, employees, advisors and
do bounty campaigns. Those free tokens, by definition, lower the market
cap of the token. We wanted to start our A-Token, the best token on the
Ethereum blockchain, with 1 ether for the 10000 first A-Tokens and, of
course, there is no free A-Token!
STT – Self-Tradeable Token
Ethereum has thought on the possibility to self-trade tokens via their
Smart Contracts technology. We learnt that most token do not use this
feature. Thus, tokens need to use exchange services in order for them
to be traded. The most prominent token to use self-trading ability is
BNT (Bancor). Bancor also have developed a network of other tokens
using their formulas. We thought that this feature is highly important.
So, A-Token has the ability to self-trade. Each user can buy A-Tokens
from the Smart Contract using the BuyTokens function and sell A-Tokens
via the SellTokens function.
A-Token is managed by a Smart
A Smart Contract manages the A-Token. One of the most important
things of this feature means that all A-Token activity is transparent.
All management rules are known and described on this White Paper in
detail. You can learn and analyze the Smart Contract by your own. The
A-Token Smart Contract is here.
Point Calculation Formulas
The A-Token uses the following formulas:
ΔS = S * [((R+ ΔR)/R)^1/4-1]
ΔR = 90% * R * [((S-ΔS)/S)^4-1]
Price is calculated:
P = R/ (S * 1/4)
Effective Price on buying:
EP = (ΔR + C)/ ΔS
Effective Price on selling:
EP = (ΔR – C)/ ΔS
ΔS – represents the new A-Token issued for ΔR payment or the amount of
tokens you wish to sell.
ΔR – represents the Reserve you are paying or the amount of Ether
you'll get whenever you sell tokens.
R- Represents the current Reserve, meaning the amount of Ether owned by
the Smart Contract.
S – Represents the current A-Token total supply.
A-Token uses a 25% reserve.
A-Token uses 90% factor intended for gaining more reserve to the Smart
Contract and protecting the Smart Contract from different kinds of
C – Commission taken on BuyTokens and SellTokens functions. The
commission is: 0.000'000'000'000'206'000 Ether.
The reason for our formulas to be point oriented is because we decided
that our business idea is to profit from usage of different Smart
Contracts that we or others will develop.
Table Number 1
The upper table shows the starting data of the A-Token
example of buying new tokens with 1 Ether. Let us calculate this data:
ΔS= 10000 * [((1+1)/1)^(1/4)-1] = 1892.071150027211
P = 2.000'000'000'000'206'000/(11892.07115 * (1/4)) = 0.000673
EP = (1 + 0.000'000'000'000'206'000)/1892.07115 = 0.000528521
We can see that:
Price increases with every buy.
We need to look on the effective price as well.
On buying A-Token Effective Price is higher than A-Token Price
Table Number 2
Table 2 shows another example of the A-Token. The
not show the low amount of commissions added to the reserve, but, those
are there in the Smart Contract calculations. The real numbers are
subject to the real activity thus what is showed here are examples that
probably will not occur.
Price and effective price go up on every buy.
The influence of those buys, when the reserve is higher is
smaller, but, there is always some influence.
Table Number 3
We learn from table 3 that:
Selling influences price and effective price.
Again we emphasize that those are examples which probably will not
occur in real life.
The use of our formulas is very benefiting the A-Token owner.
to make a comparison to an average system. Let us consider line 2 of
Average calculation = 100 (selling A-Token) / 66815.79 (total A-Token
supply) * 1994.237 (reserve) = 2.98467922028
This means that according to our formulas a user of the A-Token will receive more than 3.5 times
from an average system. This demonstrates the power of the formulas we are using, for users of the A-Token system.
Table Number 4
A-Token Add (Delete)
Table 4 shows buying and immediate sell of the same
This example emphasize the importance of the 90% factor we are using.
Let us understand that when we bought A-Token using 1 Ether from 2004
reserve – the price was: 0.119807 (table 2, line 2). After selling the
A-Tokens we owned, price went to: 0.119813. This is because there is
more reserve in the Smart Contract.
A-Token formulas are very beneficiary to A-Token users.
Ether is our reserve. This will allow better ability to use the
A-Token Usability – Ether
Since A-Token can trade itself against Ether – whenever Ether is needed
a A-Token owner can trade it for Ether. In the future we plan to
develop a wallet that will use A-Token instead of Ether.
A-Token - Inherently
The trade-ability feature cause the token to change value. When people
buy the token its' value goes up and when people sell the token its'
price goes down. This is something that is done inherently in our
But, we thought that this is not sufficient.
So we have two important factors we added:
1. Point calculation formulas and the 90% factor.
2. Commission on using the BuyTokens and SellTokens functions in the
Less Business Risk
Every token we studied was connected to a business environment. Of
course, this connection had major influence on the token value. Every
token, thus carried with it business risk. We have decided to build the
A-Token on its own environment, meaning that more activity will bring
more reserve into the Smart Contract. In the future we will develop,
and other people can as well, Smart Contracts that their activity
commission is benefiting the A-Token Smart Contract.
A-Token as such have no employees, no real estate, no equipment and is
activated by the use of the Smart Contract technology that was
developed by Ethereum.
Let us assume that A-Token received 1 Ether commission from a Smart Contract activity.
According to Table 2 line 2, we have: 66899.09417 of A-Tokens.
The reserve we have is: 2003 Ether.
Thus price of A-Token is calculated to be: 0.119762 Ether.
Because of receiving 1 Ether the A-Token price is:
2004 (the new reserve)/66899.09417*0.25 = 0.1198222502031226.
A much higher increase of price than of an A-Token buying.
No Human Management
The A-Token Smart Contract manages the token according to the terms
that are discussed and revealed in this White Paper. Our Smart Contract
is transparent and you can analyze it yourself. Beyond that those rules
cannot be changed. Thus we cannot change the reserve ratio – even if we
want to. We cannot change the 90% factor when paying out. Those rules
are always the same.
In order to invest with a company doing an ICO, an investor needs to
fully understand the economics of the company and the environment where
it operates. Usually, investors do not own the time and skills needed
for such a task.
We wanted to eliminate the "investing" process, thus, we are talking on
"buying" the A-Token.
In an ICO the company invest a lot of mobney in order to get a lot of
money from investors. Most of the ICXO money that was raised goes to
entrepreneurs own pockets and not for their investors benefits. We
believe that our solution – where there are no expenses – is a better
way for investors.
The Smart Contract manages the A-Token and thus it is its owner. No
body own the token. Not its developers and not its users. It is not
owned by other Smart Contracts that benefit from it. It stands alone by
its only one Smart Contract.
In order to help trading and lower each A-Token price, an own split
mechanism has been put in place. When price of the A-Token is over 1
ether a split of the A-token can be triggered.
The split factor is calculated to set the A-Token price to be 0.01
Ether. This mean that each account owning the A-Token is multiplied by
the split factor as well as the A-Token total supply. We believe that
this split will help the A-Token to be more tradeable.
Defense Against Attacks
We implemented several defenses:
Our 90% factor – defends against any buy/sell attack.
Reenterancy attack – only in the SellTokens function a defense
against reenterancy attack was done, because it is the only function
connecting outside from the Smart Contract.
On the Ethereum Blockchain
We use Ethereum blockchain and its Smart Contract technology to develop
and implement the A-Token. We will continue developing othe Smart
Contracts that will benefit the A-Token economic environment.
Of course, the A-Token stands with the ERC20 token standard.
When we speak about money – a lot of people have
thoughts, believes and whatever. We do not want to go into this mine
field, but, wish to say several things about crypto accounts and about
Inflation – Inflation is an economic situation where the value of a
currency is decreasing because more money is moved to the environment.
Inflation cannot be done on the A-Token. No one can add A-Tokens unless
he buys them through the Smart Contract function. When people sell the
A-Token – the
A-Token amount is deleted from the A-Token supply.
I read once, in an article, that 30% of US dollar notes are forged.
understand what forging of a currency can do to its' value. You cannot
forge the A-Token. You can just work with it according to its Smart
There has never been a currency, throughout all mankind history,
its supply grows or decreases on buying and selling.
There was never in history a currency that has a reserve in the
formulas and commissions, as the A-Token uses. Thus we do not have any
way of learning on such currencies and evaluating the A-Token. Just
days will tell. We are very optimistic on the success of the A-Token.
When people buy or sell the A-Token they influence on the reserve
the amount of the A-Token supply. In our formulas there is always an
influence on the price of the A-Token. Furthermore, we thought that
adding more reserve without increasing the amount of tokens will be
beneficiary to the A-Tokens price. We will, also, decrease the A-Token
supply whenever Smart Contract using the A-Token will receive it as
commission. Thus the A-Token price will increase.
In table 2, line 2 we see an increase of A-Token price cause a 1
buy was done. This caused the price to move from 0.119762 to 0.119807.
If will add 1 Ether to the reserve without adding A-Token supply, the
price will be as follow:
P = 2004/(66899.09417*(1/4)) = 0.119822250203126
We do hope that, we and others, will develop other Smart Contracts that
will contribute their commissions to the A-Token Smart Contract.
You can lose money if you buy the A-Token! There are two main
You bought the A-Tokens and their price went down. Do
remember that the A-Tokens price is in Ether.
You bought A-Tokens and their price went up, but Ether price
went down thus eventually you lost some of your fiat value.
The price of the A-Token can fluctuate a lot, mainly in its early
stages. When mature, we foresee more stability into the system.
The A-Token is a new token - you need to be more careful than us.
We do not know if other Smart Contracts will contribute to the
A-Token reserve. We do not know if those Smart Contracts will be
developed at all and the time of their implementation.
The A-Token is done on the Ethereum blockchain and uses its'
Smart Contract technology. We need to remember that this technology is
relatively new and might suffer problems.
The A-Token Smart Contract was deployed on the Ethereum
blockchain in –
29 June 2018.
Less trust between people wishing to exchange ERC20 tokens between
themselves. Sometimes you do not know the second peer for an
exchange. Sometimes you wish to exchange Ether for another token.
Our Smart Contract does the transaction for both sides. This is called an ATOMIC transaction. Thus the transaction would be fully done
or not done at all. A small fee (206000000 WEI) is payable for
the usage of each function of this Smart Contract. This fee is
transferred to the A-Token Smart Contract to increase its' reserve.
This Smart Contract has 4 functions:
newExchange (address smart1, uint256 amount1, address two2, address
smart2, uint256 amount2) — Where a new transaction is built.
getStruct (uint _Id) — which allows to view all data of an
cancelExchange (uint exchangeId) — Where both parties can cancel the
exchange. If the deal was constructed with Ether, this Ether will
be returned to the proper wallet. Do remember that Approve
Function of ERC20 tokens can be canceled by using the "spender" address
and the 0 amount.
doExchange (uint exchangeId) — Where the second peer confirm the
Deeper look into activating the functions using MyEtherWallet.com:
Click on the Contracts tab of the MyEtherWallet.com site menu.
Insert Contract address -
Insert the ABI -
Choose the newExchange function from the functions menu.
The newExchange function has 5 arguments:
Address of the Smart Contract managing the ERC20 that you wish to
exchange. Using 0x0000000000000000000000000000000000000000 means that
you wish to use Ether.
Amount1 — the token amount or the Ether amount.
Address Two2 — the wallet address of the other peer. Using
0x1111111111111111111111111111111111111111 address means that you do
not know the second peer and whomever comes can do the deal.
Address Smart2 — the address of the other Smart Contract manages the
tokens to exchange. Use of 0x0000000000000000000000000000000000000000
Amount2 — The token amount to be exchanged or the Ether amount.
Do remember to transfer the right value for the function. The fee is
Determine the proper Gas and Gas value.
Submit the transaction.
Do remember, that you need to Approve the Smart Contract ability
to transfer the tokens. So, you must Approve the Smart Contract
otherwise the exchange will not be done.
This function has no fee on it. You use this function to learn on
the transaction that was built. This function uses one argument the ExchangeId. You can also look on the Events
section of the contract at the etherscan.io web site, to learn about the transaction.
Both parties can cancel an exchange. This function carry a
206000000 WEI fee. A canceled exchange cannot be done and a
newExchange must be built. This function uses one argument the ExchangeId.
Only the second peer can doExchange the exchange. This function
has 206000000 WEI fee. If Ether is needed, do add it to the value
transferred for the function activation. This function uses one argument the ExchangeId.
All fees paid to the use of this Smart Contract serves the A-Token as
reserve. Thus using this Smart Contract is beneficiary for
A-Token holders. This is the first Smart Contract we deployed. We plan to
build more Smart Contracts in order to support the A-Token economics.