Skip to main content

introduction

what is snapr?#

snapr is a cryptocurrency like bitcoin, ethereum or polkadot.

it is implemented as a substrate based blockchain using nominated proof of stake, much like polkadot.

there is a total supply of 30,015,137,092,992.0 (thirty trillion) snapr. it is a fixed supply and cannot be increased. the total supply was calculated using united nations population projections for the ten year period following the public launch of snapr. the supply is intended to be distributed to any human requesting it at a rate of 1 unit of snapr daily until the supply is exhausted, which may or may not occur in about ten years time.

how much is snapr worth?#

the intention behind snapr is that all humans everywhere, should have access to:

  • food
  • clothing
  • shelter
  • healthcare
  • communication

required for survival, without hindrance or obstacle and without exception.

to this end, snapr aspires to a unit value equivalent to that required for human survival on the day it is transacted.

specifically: it should be possible to exchange 365 units of snapr for all of the necessary food, clothing, shelter, healthcare and communication requirements of one individual for a period of one year.

if you are exchanging fiat or other currency for snapr, you should acknowledge this aspiration by providing a fiat exchange value equivalent to the cost of daily human survival in the region in which the snapr side of the transaction originates. there is no enforcement mechanism envisaged or realised for this aspiration but it is hoped that the motivations and intentions of those transacting snapr are aligned with this aspiration.

using snapr#

snapr is still in development, so it's not very easy to use right now. however, if you are familiar with substrate tools, like polkadot.js, you may create a wallet and associate it with your signed identity. the intent is to commence distribution of snapr to wallets associated with a unique, signed identity as early as possible.

in the spirit of decentralisation, anyone who already has a signed identity, may sign the identity of anyone they know and trust to be using only one unique identity. credibility with the distribution algorithm may be won or lost by providing signatures to honest or dishonest identities respectively (see: signatures).