The BEAN token economy is comprised of distributed and independent enterprises that voluntarily agree to accept the BEAN token as payment for goods and services.
These enterprises can be mom & pop coffee shops, canteens, websites, hackerspaces, flop houses, game servers, clubs, software, or any other establishment or entity so long as it does not operate in contradiction with the ‘enterprise staking contract’.
The BEAN Token
The purpose of the BEAN token is to incentivise the creation and expansion of the Bean token economy, including EOS Cafe locations in the real world for our members to enjoy.
The BEAN token economy is a simple stake weighted system. You have the choice to stake in the free-market enterprises of which you want to exchange value with.
Another utility of the BEAN token is to vote your own stake if there is a referendum or a constitutional convention.
The utility of the BEAN token is as limitless as the mind’s of it’s holders. Forum tipping, crowdfunding, whatever you can think of… make it so.
Each participating enterprise in the BEAN token economy chooses how many BEAN tokens it will take to stake, and also what goods and services that they will trade in exchange.
Let us say for example, David’s Cafe in Peru asks members to stake 100,000 BEAN tokens for a 30 day term, in exchange for free internet and 1 cup of coffee per day.
David is committed to provide these goods and services for the 30 day term. And the inflation rewards off of the staked BEAN tokens, flows into the EOS mainnet account ‘davecafeperu’
At the end of the 30 days the original 100,000 BEAN tokens are released back to the member.
Max, on the other hand, starts a Minecraft gaming server and allows BEAN token holders who stake 4000 BEAN tokens to account ‘minecrafteos’ to use his server for 7 days.
The Enterprise Staking Contract (draft)
To start up an enterprise a founder must (1) state their value proposition, (2) sign the following contract, and (3) get a minimum of 10,000,000 BEAN tokens staked to their enterprise account for a minimum of 30 days.
Approval is automatic.
The following is a draft of the Enterprise Staking Contract. We plan to have a contract similar to this implemented by the end of January, 2019.
- I will strive to provide the value (goods and/or services) I offered to members of the EOS Cafe D.A.C. / the BEAN token economy, who stake BEAN tokens to the account mycafemycity in exchange for the inflation rewards which are distributed to said account.
- I will not initiate force, fraud, or coercion against any member of the EOS Cafe D.A.C. / BEAN token economy.
- I will conduct my enterprise within the laws of the political jurisdiction in which i operate my enterprise.
- I understand that a free-market arbitrator can judge against me for wrongdoing and direct the EOS Cafe Foundation’s Council to terminate my enterprise contract which will remove my account from the enterprise staking contract.
What Enterprise will you Create?
Please come discuss it on our discord server.