What is OTTER?
OTTER is a utility token for my projects, hosted on the Steem-Engine sidechain for Steem-based tokens. I'll be integrating it into things that I'm operating and working on over the course of April, and then including it in any future projects. For the time being, this will be largely focused on the crypto gaming space, and much of the initial functionality will be Steem Monsters-related, but I intend to expand beyond that over the course of the summer.
The market on Steem-Engine, including the presale, can be seen here.
OTTER tokens do not represent real otters.
Why Otter?
Since I do a lot of different things, I find a curious and multitalented animal to be a good metaphor. I've had the idea for a while of calling a company Otterworks, which is sort of like a skunkworks but less smelly. So the OTTER token will generally be managed through the @otterworks account. "It Otter Work."
Presale Terms
I'm offering up to 100,000 OTTER on the market at a discount. From now until April 15, or sold out, I'll be selling OTTER at $0.008 USD per token. From April 15-30 the price will be $0.009 USD per token. After April 30, or 100,000 sold, I will no longer be making direct sales. (Though I reserve the right to offer more tokens in the future.) For the immediate launch period, uses of OTTER will be estimated at $0.01 per token.
At the end of the presale period any remaining OTTER will be assigned to ongoing issuance as indicated below.
How will I be able to use OTTER?
At launch on Monday, April 1, you will be able to buy or lease Steem Monsters cards from my large collection with OTTER even if I have to do it manually.
The April roadmap includes more Monster-related activities as I finish programming them: automatic purchasing, Steem Monsters loot boxes, and subscriptions to my nearly-ready Monsters utility program.
Future roadmap will include adding digital assets from other games. I hope to essentially make OTTER a means of commerce between different games, which should be especially useful for moving between games on different chains. Users will be able to get affiliate kickbacks on one game and spend them on assets in other games, without fees or other difficulties with holding, for instance, ETH-based assets. Eventually I hope to offer a peer-to-peer market, though that's a long-term project.
How will OTTER be issued beyond the presale?
OTTER will be issued as people add value to the system, though generating affiliate payments to @cryptogamestrat, delegating to my projects, and other methods to be announced. It will also be issued promotionally for social media interaction, in Steem Monsters tournaments to encourage Monsters users to sign up for other games through the affiliate, and in other ways as I see fit. Promotional spend will be backed by cryptocurrency or digital game assets.
What is backing the value of OTTER?
At launch, a $10,000+ Steem Monsters collection, as well as Steem generated through the presale. As we go on it will include Steem and other digital assets acquired through the activities that generate value for the system. Over time the reserve ratio should decline gradually from 1:10, as new income will be held at 1:1. This should hold the value of OTTER against non-critical declines in the price of Steem or Monsters until there's sufficient transaction volume and asset diversity to support it on a day-to-day basis.
What rights will holders of OTTER have?
This is still in development. Steem-Engine is currently working on a stake-based voting mechanism, and when they finish it I'll probably find some way to use it for something. While OTTER is not an equity token, I see no reason not to consult significant holders of OTTER on related strategic decisions, purely as an advisory board.
How much OTTER are you holding? Is it centralized?
I'm not currently issuing any OTTER to myself, though I reserve the right to do so in the future under the reserve guidelines. At the moment I don't see any reason to do so. @ottermaker is hosting the presale and will hold Steem generated as backing for the token. Any unsold OTTER issued for the presale will be held for distribution as above.
OTTER is centralized in that Steem-Engine is currently a centralized system, and in that I'm the only issuer. In terms of holdings, my accounts are currently planned to hold OTTER only in order to fulfill the issuance guidelines above.
Other questions are welcome!
Here are some more otters for reading the whole post:
Now you need to design a cool 2 sided coin so I can eventually add it to a future token collection book.
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Interesting way to leverage the market that continues to be created on Steem Engine as the potential is pretty exciting to provide utility for those that have the resources to do so like you intend to with the Steem Monsters collection.
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