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Featured: Traders! Buy CRY (CryptoNGO) tokens by CryptoNGO nonprofit while they are cheap.

Our smart contract

Introduction

When you create a project on with site, you automatically receive so called smart contract. (Smart contract is a cryptographically singed short computer program which regulates payments you can make with it and payments to you.)

Holding and transferring tokens

Our contract associates an amount of your own currency (called tokens) with every Ethereum account in the Net. The money can be transferred between accounts.

Your (owner) account is special. It shows in Wallet as containing 1024 amount of your tokens, but behaves as an infinite amount of money (when you withdraw money from your account it remains 1024 no matter how much you withdraw). If somebody sends tokens to your account, it also remains 1024 (does not increase).

There is also calculated total amount of your token in the Net. Your 1024 are not counted in the total amount. So when you withdraw tokens from your account, the total amount of your tokens in the Net increases (and it decreases if somebody will send tokens to your account).

Selling tokens for Ether

We are not responsible for malicious users or hackers whose contracts may not conform to this formula.

Anyone can send Ether (in fact Ether are like real money) to your contract. If he sends Ether, your contract automatically sends him back some tokens.

The amount of tokens sent back is calculated by the formula e2/(T+e) where T is the total amount of Ether received to this token before the purchase and e is the amount of Ether sent in this transaction. Note that this formula offers huge discounts to big (wholesale) transactions.

You can withdraw Ether from your contract using the project admin area on your contract page at this site.