What is the MDL Token Hour Economy?
News 6 May 2018
Sky Fiber blockchain technology allows the accumulation of token hours for holders of MDL tokens. The mechanism is simple — if one has 1 MDL token, after 1 hour he or she gets 1 MDL token hour, if one has 10 MDL tokens, after 1 hour he or she gets 10 MDL token hours. The more MDL tokens you have and the longer you keep them, the more MDL tokens hours can be accumulated.
The purpose of token hours
In Skycoin blockchain as well as in other Sky Fiber chains, coin/token hours are used to pay for transactions, This secures the system from micro transaction flooding. While this was the initial purpose of token hours, their nature allows them to have much wider utilization spectrum within the Fiber ecosystem projects.
Some unique specifications of MDL token hours.
- MDL Token Hours are accumulated at a constant pace.
- MDL Token Hours are not tradable. This will increase both MDL Token value and the stability of MDL Token hours.
- Token Hours are burned when used, so they don’t transfer value
- MDL Token Hours are burned through each transaction of MDL Tokens.
- MDL Token Hours can be used in the MDL platform to buy extended functions, boosts, and customizations that have either a temporary or permanent effect.
Examples of MDL token hours usages
Here is why token hours are interesting for speculative MDL token holders:
The more platform users want to keep their MDL token to accumulate enough token hours for constant update of boosts and extended functions, the lower the supply for MDL becomes. This means the MDL Tokens increase in value!
Our mission is to make a balanced ecosystem economy so that users without any MDL tokens will be able to benefit from MDL Talent Hub without limiting our market expansion. In the meantime we also want to educate and make it attractive to purchase extended functions, boosts, and other features with MDL token hours, so that speculative MDL holders will be benefit too.