[21/05/2024] In an industry first, the introduction of banknotes as cryptocurrency marks a significant milestone not just for Oganesson but for the industry as a whole. In a bold leap towards mainstream adoption and accessibility, Oganesson goes beyond the digital sphere to recognise the need for a tangible method of transaction. Recognising the symbolic significance of physical representations, we realise the inherent human connection to tangible currency. Oganesson is to be the first crypto currency to launch the first ever banknotes for cryptocurrency that incorporates traditional features with a new twist. We call this a tokenote, a fusion of "token" and "banknote."
Tokenotes will not only share the same security features as traditional banknotes, but also display the face value in a digital format in Oganesson native currency (OGAN). Each Oganesson Tokenote has a dedicated digital wallet with the corresponding face value amount in the native cryptocurrency. This means that every banknote maintains an inherent value and can be properly monitored on the blockchain ensuring that the circulation cannot be double counted or inflated in private.
In order to protect the value and integrity of the banknotes, the digital wallets associated with the tokenotes will be inaccessible to transact but viewable and accounted for publicly. By taking this cautious approach, users can have confidence that a banknote upholds its value without the hassle of verifying each individual one. Our goal is for banknotes to account for only 4% of the total supply. This is to prevent an oversupply of banknotes.
In order to address the matter of banknote lifespan, we took the initiative to establish the treasury. The treasury serves as a strategic reserve pool, promoting growth and innovation while also covering the operation expenses associated with the distribution and circulation of tokenotes. We have pledged not to sell our reserves, instead relying solely on staking earnings.
More information: ogan.io/whitepaper.pdf
