$Presence

Status: Draft, Last Updated: 8 June 2024

The $Presence token is designed as a measure of a user's physical presence in a Project.

$Presence is a Soulbound (non-transferrable) decayed* ERC-20 token.

Contract parameters (DAO controlled):

• Rate of decay* (default 10% per annum)

• Minter role woul

*decay: in order to represent the loss of context a user would have from being absent in the land project, we give higher governance weight to more recent stays. Example: Decaying the $Presence by 10% per year would mean that after 5 years, instead of 100 initial $Presence received, 59 $Presence would be the updated balance.

However, $Presence is also cumulative since you can keep staying in the property and earn more $Presence.

Staying 5 years, 10 nights per year, would result in a total of (10 + 9 + 8.1 + 7.3 + 6.6 = ) 41.

Staying 10 nights for 10 years, it would results in a total of (10 + 9 + 8.1 + 7.3 + 6.6 + 5.9 + 5.3 + 4.8 + 4.3 + 3.9 =) 65.

Staying 10 nights for 100 years would result in a total of