Vagabond Spirit - OMA Coin
This is the official page for the OMA Coin by @vagabondspirit. The OMA is a utility which I hope to use in a variety of projects in the Vagabond Spirit game.
The Vagabond Spirit will use the OMA rewards. Specifically, the game will have an auction where people can buy OMA for the steps that the take in the game.
The OMA is not intended to be a stable coin. I repeat, the OMA is not a stable. Nor is the OMA intended for investment purposes.
I am interested in monetary history. Prior to the US dollar, people in the US tended to do trade in the Spanish Dollar which was a large silver coin. People used to cut the dollar into eight pieces called bits. The large silver dollar was known as a piece of eight.
The weight of the dollar tended to diminish with time. The US dollar was originally contained 0.7734 Troy Ounces in silver. The current Silver Eagle (and most silver rounds) contain a troy ounce of silver. For internal purposes, I calculate the price of the OMA as one eighth of the price of silver.
I list the OMA on the Hive-Engine exchange.
I calculate the selling price by looking at the Kitco Bid Price for silver (S). I then look at the CoinGecko HIVE Price (H). I then calculate the formula RoundUp( S / (8 * H)). So, on April 25th, the figures were:
Silver = 25.970 Hive = 0.405 S / (8 * H) = 25.97 / (8 x 0.405 ) = 8.0154
I will round up to a penny. So, I will place a sale at 8.02. If someone were to buy a coin a coin, I will place a sale for the coin at one penny below the buying price, or at the new price for the coin (which ever is lower).
Since I do not guarantee that I will rebuy at the price of silver, the coin is not an investment.
Functions of the Coin
OMA is a utility coin. It serves the following utilities:
The Vangabond Spirit game uses the coin for hosting fees, legal fees and other development expenses. Most of these expenses get paid to @yintercept.
The public can buy advertising on the site. My general price is one silver dollar for 100,000 ads. If a person uses the OMA, the price will be 20,000 ads for one OMA. As the ads are consumed, the game will buy back the coins.
The OMA has additional functionality in the game, which I will detail later.
OMA and the Infinite Doodle
The OMA offers additional functionality. Artists can buy a tile in the "Infinite Doodle." After improving the tile, artists will be able to sell the tiles. Note, the tiles are effectively a non-fungible token.
OMA is a utility coin. It has zero speculative value. I will create 32 billion coins to emphasize this.