What is Saturn Classic?

ethereum-classic

#1

hey sam,

may i ask you about the SATURN Token on the ETC chain ? Obviously the ETC Saturn Token is not the SAME as the ETH Saturn Token . Right ? What it is purpose ? How to set these both in a relation ?


Token suggestions for Radex Classic listing
#2

Welcome!

Yes you are correct that we have two separate Saturn tokens, one on Ethereum and one on Ethereum Classic. And in the future there will be even more!

Currently, when you look at some of the arguments of centralized exchanges VS decentralized exchanges, one comment that can come up is that DEXs are limiting themselves to one blockchain. Therefore, they back themselves into a corner, no matter how great & safe their technology is: if your users can only trade tokens that exist on one blockchain then your exchange’s trading volume is always going to be to a certain extent limited.

We do not want to limit ourselves to one chain, therefore we are building our technology in a way that allows it to be cross chain: for example, our prototype Radex is deployed on ETH & ETC. And when we launch Saturn Protocol, which will enable one transaction trading, it will also deployed on ETH & ETC.

At the same time, following our philosophy, we want to ensure that we remain completely decentralized and that there is no unbalance of power. Therefore, at the heart of our project you will find Saturn DAO that will govern our exchange protocol: token holders will have voting power to control & receive dividends. But if we allowed ETH Saturn token holders to vote on changes regarding our exchange protocol on Ethereum Classic then our project would no longer be decentralized.

So the answer is every blockchain we support will have its own Saturn DAO and own Saturn tokens. The new tokens will be distributed as following:

I hope that makes sense, let me know if not as I am happy to discuss more! Thanks :slight_smile:


#3

Did this explanation make sense to you, @scco?

Just to add to that, think of Saturn Protocol as something that every chain can (and will!) enjoy. So if a blockchain supports smart contracts, rest assured that you will see Saturn Protocol launched on it, with its own Saturn Token to govern the exchange and the DAO.

And if you invest before October, 1st 2018, you will be eligible for airdrops of Saturn Token on every new blockchain we launch on. Think Saturn EOS, Saturn BTC, Saturn Cardano, Saturn NEO, Saturn TRON, Saturn VeChain, Saturn Verge, …


#4

hey, thanks for reply.

I understand the technical need for a token - as a tool / fee for trading tokens on a chain. So basicly ETC-Saturn is nothing worth NOW cause you can not trade any tokens on ETC chain - and you can not trade ETC-Saturn with ETH-Saturn in some way :slight_smile: BUT technical i understand the reason for its existence.

plans for future dont matter for me - i think you would agree you would not invest into maybe promises after this crazy year of icos - right ? anyway i hold some saturn etc - like 200k or so … but theres absolutly no reason to have it yet - right ?

and another question : how i get a EOS Saturn airdrop - when you have no central knowledge of my assets in other chains ? so how you know to send me EOS tokens when i haven 300k ETC tokens ? and what if i hold 300k ETC AND 300k ETH tokens ? do i then get double EOS tokens ? or like 50 times more because ETH token is more worth than ETC token ?

^^


#5

but theres absolutly no reason to have it yet - right ?

Technically, not yet. However, if you believe that ETC will build a healthy token economy Saturn Classic tokens will let you collect dividends from exchange fees.

how i get a EOS Saturn airdrop - when you have no central knowledge of my assets in other chains ?

Through a mechanism similar to how EOS ERC20 token was converted to EOS genesis block. There will be a webpage where you’ll have to sign a message with your ETH private key - that’s how we will be able to securely and anonymously associate ETH and EOS addresses for the airdrop.

and what if i hold 300k ETC AND 300k ETH tokens ? do i then get double EOS tokens ?

ETC tokens grant no airdrops. Only ETH tokens do, which is part of the reason why they are more expensive.


#6

hey ok thanks for the talk.

obviously i believe in etc - i work for etcdevteam :slight_smile:


#7

Nice, thanks for the support! Are you going to be at the etcsummit? Any interesting updates that may be announced? :wink: Let us know!


#8

ill not be on the summit this time, but you will see some speakers from etcdev there.

yes there are some great things that will come up soon - we will talk on the summit about this ^^

if you need some advice or visual help with radex from a designer - we can talk anyways if you like - maybe i can contribute in anyway to radex - specialy when its etc related.

in example you can have access to some graphic assets for your apps like this


#9

Cool we will have a look & thanks for the offer. Currently in terms of UI we are working on some big updates to support the next release where we will implement one transaction trading. The next version’s UI should be much simpler and easier to follow, so less room for any user errors! Once it is ready we will definitely be hoping to see some feedback from our community. So stay tuned!