F49: ICL TOKEN WHITE-PAPER
Empowering The International Community Lottery Ecosystem
Abstract
This whitepaper introduces the ICL Token (Symbol: F49), an ERC20 cryptocurrency designed to serve as the cornerstone of the International Community Lottery (ICL549) ecosystem. F49 is backed by Ethereum (ETH) reserves and is integral to the ICL549 platform, enabling seamless participation in the lottery, value transfer, and community engagement. This document outlines the technical specifications of the ICL Token, including its burn and mint functions, total supply, and integration with a secondary smart contract known as the Controller. The Controller manages key aspects of the token's performance, ETH balance, validator nodes, cross-chain bridge contracts, and other essential functionalities.
1. Introduction
ICL Token (F49) is a robust ERC20 cryptocurrency that powers the ICL549: International Community Lottery ecosystem. This whitepaper presents an in-depth overview of F49's technical features, its integral role within the ICL549 ecosystem, and how it maintains its value and stability through ETH backing and controlled mechanisms.
DISPLAYING ICL TOKEN ALLOCATION
DISPLAYING ICL DEVELOPERS ALLOCATION
2. Technical Specifications
- Token Name: ICL Token
- Symbol: F49
- Decimals: 18
- Total Supply (Initial Reserve): 12,549,000,000 F49
- Backing Asset: Ethereum (ETH)
3. Core Functions
F49 encompasses a comprehensive set of standard ERC20 functions, including transfer, balanceOf, approve, allowance, and transferFrom. Additionally, it features burn and mint functions to regulate token supply dynamically.
4. The Controller Smart Contract
The Controller is a secondary smart contract intricately linked to F49's functionality and performance. It executes critical roles:
- Manages the ETH balance backing F49's value.
- Tracks token performance metrics, enabling informed decision-making.
- Provides real-time token pricing based on performance indicators.
- Orchestrates ETH validators for ICL549: International Community Lottery nodes.
- Facilitates communication with bridge contracts for seamless interaction between Ethereum Mainnet and ICL549 Network.
5. ICL549: International Community Lottery Integration
F49 plays a pivotal role as the native currency within the ICL549 ecosystem, allowing members to participate in the lottery, purchase tickets, trade, and receive winnings.
6. ETH Backing and Value Enhancement
A significant portion (80%) of ICL549 revenues are maintained in the ecosystem as ETH reserves. This backing mechanism provides stability to F49's value and allows for controlled value appreciation over time.
7. Performance Tracking and Balancing
The Controller's functions enable stakeholders to access critical information, including:
- Tokens in circulation
- ETH backing F49's value
- Minimum token price.
- Token market demand percentage (24hr token transfer volume / tokens in circulation).
- Calculated token market price.
Token Value Calculator
This calculator estimates the value of your tokens in $ based on the following formula:
Token Value ( USD$ )= Tokens x ( ( Tokens in Circulation / ETH Reserves) x Price of Ether in $ + ( Community Size x $5 ) )
"Simply put the value of F49 token is based on the value of the community at 5$ per member plus the value of Ether in reserves."
Your Tokens' Value: $0.00
8. Conclusion
ICL Token (F49) serves as the backbone of the ICL549: International Community Lottery ecosystem, facilitating seamless value transfer, participation, and community engagement. Through its innovative architecture, ETH backing, and robust Controller smart contract, F49 offers a secure and reliable cryptocurrency solution for the ICL549 community.
Disclaimer
This whitepaper provides a conceptual overview of the ICL Token (F49) and its integration within the ICL549 ecosystem. It is important to note that cryptocurrency investments carry inherent risks, and potential investors are advised to conduct thorough research and due diligence before participating in any financial activities related to F49 or ICL549.