YouStock is like bitcoin but with the added ability to create and send digital stocks as well as the base cryptocurrency aura.
The YouStock platform will use aura, a new cryptocurrency and smart contract platform. It can be mined, bought and sold on exchanges, and sent directly to other users just like any other cryptocurrency.
Smart contracts enable users to create new digital assets. On YouStock, these assets represent stocks in the users who create them. The stocks have a fixed number of shares and are initially 100% owned by the creator.
Users can trade their stocks directly with other users without having to trust a third party provider.
YouStock is a new platform where anyone can create a digital asset that represent themself and trade with anyone else.
Why would anyone want to do this? There are many reasons but ultimately it's up to you. Here are some ways people might use the platform.
Prominent athletes could create a stock and let their fans trade them. The value of the stock may fluctuate based on the athlete's performance or their stardom, market forces will determine that. Buying stock in a young promising athlete could be very lucrative for fans and traders alike. Income from an initial offering could help offset the notoriously low pay college athletes receive these days, while simultaneously giving fans a new way to interact with their favorite sports teams and players.
Famous celebrities could create a stock for their fans to trade. Fans that want to support their favorite actor or musician can buy their stock. If you discover a young upcoming artist that you know will go on to be big, buy their stock, which simultaneously supports them and also gives you a chance to share in their future success.
Top talent could tokenize themself and offer to work for their largest shareholder in addition to a fixed salary. This would force top companies to bid on the best employees. This has the added effect of aligning the employer's interests with that of the employee's, they both now have a financial interest in the employee to grow and be more successful. If an employee outgrows their position and another company wants to acquire them, they have to buy out the former employer's position.
This is just a sample of the ways people might use this platform. We're excited to see what new and unique concepts people will come up with for using their tokenized selfhood. People are awesome.
User stocks are implemented as ERC20 tokens on the Aura blockchain
Instead of using ethereum, aura is the main unit of cryptocurrency and fuel for smart contracts.
Using a parallel blockchain has the benefit of lower fees and less congestion than if it were to run on the ethereum mainnet.
People from all over the world will be able to create and list their stock on the exchange. As you meet new and promising people, invest in them and build a diverse portfolio.
People are unique and legendary people are scarce. There is only one Michael Jordan, one Einstein, one Picasso. Use this property to your advantage.
initial work on project, research, experiment
fork ethereum, setup aura, websites
Aura mainnet launch
wallets, explorers, mining pools, exchanges
Basic wallet support: view balance, send/receive aura, keystore, private key, mnemonic phrase
Auradex and the ability to trade aura for ether directly.
Advanced wallet support, create tokens, view/send/receive tokens
Buy/Sell/Trade people stocks
Additional wallet support, testing, more cross-chain swap options
Got questions? We’ve got answers. If you have some other questions, feel free to send an email to firstname.lastname@example.org
Aura is a cryptocurrency and general purpose blockchain application ledger based on ethereum. Developers can deploy smart contracts and decentralized apps (dApps) to the Aura blockchain. Lowercase 'aura' refers to the unit of cryptocurrency on the platform that can be transfered between wallets, is used to pay transaction fees and gas for smartcontracts.
A decentralized exchange is a digital asset exchange that operates solely based on the blockchain protocol and does not rely on any third parties to facilitate trading. It allows you to trade with other people online directly, with no intermediaries.
Stocks and aura are stored in digital wallets, which are secured by private keys. You can either store in your own wallet on your own computer, or store it on our secure servers once the web portal is released.