FLAGS
Abstract
Welcome to the official whitepaper for FLAGS, a revolutionary initiative on the POLYGON Blockchain that introduces unique tokens for each of the 195 countries. This document provides a comprehensive overview of the project, detailing its vision, technical specifications, and the groundbreaking opportunities it presents.
1. Introduction
There are 195 countries recognized by the United Nations (UN). Some very different from others, some very similar to others. Different sizes, population, nature, etc. By creating fan tokens for each country we will test how people support what country, and why. It should not be too competitive, we rather see the whole as a fun game.
2. Project Overview
We will start with two countries, then periodically roll out the introduction of more flags. The goal should be to attract people all over the world who want to show their support for a country they love, respect, etc. We do not at all want to create a hostile, competitive atmosphere. Fan token holders are expected to create liquidity pairs to enable the possibility to exchange one fan token for another, or even for coins and stablecoins. We also hope people will start talking about their flags by providing information about the respective country (history, nature, animal life, people, events, etc.) by extensively using our social platforms (Telegram, X, Instagram).
3. Token Details
3.1 Token Name
Token names consist of a combination of the respective country + FT (for Fan Token). E.g.: “Switzerland Fan Token”
3.2 Token Symbol
Token symbols consist of a combination of the respective ISO3166 country code + FT (for Fan Token). E.g. “CHFT”
3.3 Total Supply per Country
Total supply per [country]FT is the specific country’s population as per the date when tokens are minted.
3.4 Token Standards
Simple ERC-20 token with no additional features (no mint, no upradebility, etc.)
4. Technology Stack
4.1 POLYGON Blockchain
Polygon’s steady growth is promising, their real world approach is promising. POLYGON is reliable, has a lively ecosystem with an active and open minded community. In addition to all the advantages POLYGON positioned itself in a very promissing way towars Real World Assets/ Collectibles. A fact that aligns very much with the interests of our core product (Real World Collectibles).
4.2 Smart Contracts
Smart contracts by the ERC-20 standard enable exchange of tokens, and the usual functionalities like documentation of total supply, holders, transactions.
5. Use Cases
We hope people engage by showing their support as a fan of a country (fan of several countries). By being that, they do not only hold the respective token(s) but do also talk, write, represent the beauty of the countries they like. People who disagree will oppose, come up with arguments against that specific country, which should lead to (hopefully peaceful) discussions. A change of tokens can then be seen of people changing their impression. This will be interesting to observe: how does the price of specific tokens reacts, who is talking about what topic and why. Which countries receive the most interactions and why. Is there a pattern for a group of people in favor of a certain country (or against).
6. Governance Model
At least at the beginning there won’t be a governance token. We chose the free float model: maximum possible tokens go to liquidity pairs. People are encouraged to form additional pairs. The markets will decide about changes and outcomes. There cannot additional tokens be minted. Contracts cannot be paused.
7. Token Distribution
Token distribution is as simple as possible: which is a fair launch. For this token sale event we use Fjord Foundry’s LBP Liquidity Bootstrapping Pool method to find the fair price (Phase 1). Additional (up to 2) phases are possible on DxSale if there are unsold tokens in the LBP. You can read more about it here in Fjord Foundry’s documentation. Number of tokens per country correspond to the population of the respective country. Proceeds from the sale are used to form a liquidity pair [country]/WETH. No whitelists, no airdrops, no pre allocation to VCs and the like.
8. Roadmap
We will start with the State of Palestine and Israel due to the actual high presence in the media. Then add further countries due to demand from public (by discussion). We try to be fair as much as possible and choose countries from all world regions (Asia, America, Europe, Africa, Australia). Large and little ones.
9. Team
Same team like Rate Your World Core (real world collectibles). Experienced in trade, finance, collectibles. Love to travel, get to know new people, learn different cultures, languages, food, tastes, etc.
10. Risks and Challenges
Potential of loss as usual. Impermanent loss. We do not promis any gains or sustainability.
11. Conclusion
Flags Fan Token is the unique project that is going to mint flag tokens for every country. Users can hold, exchange them, and talk about them extensively and promote their events (cultural, music, historical, natural, etc.) on our platform. We hope for a growing fan community similar to the legendary soccer fan cards fan community. An active fan community with members promoting their views, and also events that actually take place in “their” country/ies.
12. References
Ethereum, Polygon, UN, Britannica, Fjord Foundry, Uniswap, Quickswap, Balancer, Coinmarketcap, Coingecko, Coinsniper, DxSale