SAMAI Club Crypto Coins
All verified members of the club are entitled to participate in the life of the club and to receive benefits from the club’s success.
In order to create a scheme which enables the above benefits, it was decided to make use of the latest innovation called Cryptocurrencies. Even though there has been a large number of negative press recently about Cryptocurrencies, we believe those were simply bad examples by dishonest actors. The technology behind Cryptocurrencies is a true innovation which has enormous potential for legitimate applications.
We have taken the best ideas from Cryptocurrencies and implemented our own currency called SAMAI Coin. The principles that underpin SAMAI Coin are as follows:
1. The total number of SAMAI Coins is 7,000,000,000 (7 Billion). This number cannot be changed, hence dilution is not possible by the issue of new coins as all have been issued and held by SAMAI Club and members.
2. 3,000,000,000 (3 Billion) coins are reserved by the club’s founders (“Founders Pool”).
3. 4,000,000,000 (4 Billion) coins are available to verified members (“Members Pool”).
SAMAI Coins are allocated from the Members Pool to members who paid for Owner/Agent/Tenant Claim and Identity Verification services, as well as to members as promotions or as recognition for special contributions such as content and competitions.
Members can purchase any number of Claim Credits, whereby each Claim Credit gives a member a right to verify owner/agent/tenant of one real estate address.
Number of SAMAI Coins allocated for each purchased Claim Credit is calculated using the following formula:
where CCP is the number of Claim Credits already purchased by all members, starting from 0 for the very first ever purchased Claim Credit.
Above formula means that the very first paid member receives 100 SAMAI Coins for the very first Claim Credit purchased. Every subsequent purchase of Claim Credits will receive an exponentially smaller and smaller number of SAMAI Coins.
The purpose of such a method of coin allocation is to incentivise early adopters. The earlier you become a paid member - more coins you would receive for the same amount of payment.
Secondly, such a method ensures that the total number of coins allocated gets asymptotically closer and closer to the total number of coins in the Members Pool, hence adhering to the SAMAI Coin principles.
The benefit of owning SAMAI Coins is that, in the future, they can be exchanged for goods and services, traded on crypto coin exchanges and have priority rights for future shares of the club. Hence, we expect the market value of the coins to increase in line with the club’s growth and success. All verified members therefore will be rewarded for making the club a success.
Human Intelligence (Hi) vs Artificial Intelligence (Ai) Competition
Every month, once the transaction data has come in and was verified, we will be analysing the accuracy of all recorded opinions on every housing unit sold.
Every user, whose average opinion recorded one month prior to a given month was found to be more accurate than Ai’s opinion, will be awarded 500 SAMAI Coins for every property where the user was more accurate.
In order to be eligible for the reward, the following terms apply in addition to our standard terms and conditions. All users of the platform agree to all such terms.
1. Users must not be acting on inside information. It does not mean that owners/buyers/agents/solicitors and other related parties are excluded, however, it does mean that, if we reasonably suspect that an opinion was entered based on the knowledge of the confirmed transaction, then we will cancel the reward and may also ban the user from the club.
2. For every property to be considered for this competition, a user must upload to Chat at least 3 photos or videos of the property that represent it truthfully or vote on truthfulness of at least 3 existing photos/videos in the Chat. Properties that have no photos/videos at all will not be considered.
3. For every property to be considered for this competition, a user must enter at least the following fields on the Details tab (data can be educated guesses based on photos or other information and sources):
c) Total Inside Area;
d) Total Plot Size.
4. For those properties where Ai has no opinion, users will be competing amongst themselves and top 3 users will be rewarded equally (500 coins each) should such property be sold. Should multiple users have the same average opinions for the top 3 places, the winners will be determined by chronological order of their opinions. Earlier average timing of opinions - higher the ranking.
5. Opinions are to be forward looking by one calendar month exactly. This means, for example, that opinions entered in May will be judged against actual transactions recorded in June. Explained in another way, should a transaction happen in June 2020, the accuracy of user’s opinions against this transaction will be calculated using only the opinions entered during the month of May 2020.
6. This is a total reward limited competition which will end automatically once ten million SAMAI Coins have been won.
7. In order to qualify for the “best forecaster” cash award, as announced from time to time, in addition to the above conditions, the winner must forecast sales of at least 20 properties for the particular month. The winner will be determined by calculating average accuracy on users’ best 20 forecasts. The user with the best average accuracy on their 20 best forecasts shall be announced the winner for the particular month provided the user's average accuracy on those 20 forecasts exceeds Ai’s average accuracy on the same properties. Properties where Ai had no opinion will not be taken into account.
8. All competitions are not commercial contracts and not legally binding. Decision to award coins or cash rewards to any member in all circumstances is entirely at the discretion of the SAMAI Club founders. Decisions are final and cannot be challenged legally.