Project Overview
by HowToPulse Team
February 3, 2022

Internet Money – Pulsechain Project Overview

Table of Contents

Latest News

Token:

*** Cryptocurrencies and NFTs are volatile and those who invest in them should be prepared to lose all their money. NOTHING www.howtopulse.com states, shares, expresses, or allude to should be considered financial advice or recommendations of action. This blog is intended for educational and entertainment purposes only. Consult a professional (or two…or more) for any tax, accounting or legal related questions you may have. Howtopulse did not receive any payments to write this blog or any other post on this site.***

Token name: Internet Money / Internet Money Dividend

Ticker: $IM / $IMD

Supply: (*on BNB Chain)

  • $IM Total: 420,000,000,000,000 (420T*)
  • $IM Circulating: 12,500,000,000 (12.5T*) 
  • $IMD: 2,000,000,000 (2B)

About:

Internet Money is an ecosystem consisting of three different tokens and a wallet. The three tokens are Internet Money (IM), Internet Money Dividend (IMD), and Certificate of Internet Money Dividend (CIMD). *Note that the CIMD token is theoretically only temporary and is intended to be used to claim real IMD upon its release on PulseChain. IM and IMD do not directly function together, but they do complement each other. 

The Internet Money (IM) token is currently live on BNB Chain and will also launch on PulseChain mainnet via a 1:1 airdrop to all BNB IM holders. IM’s counterpart, Internet Money Dividend (IMD), is currently in beta and production release will occur sometime after PulseChain’s mainnet launch. The CIMD can be used to sell a portion or all of your IMD sacrifice position prior to IMD’s release on PulseChain. 

Internet Money’s stated mission is to onboard non-crypto users into the cryptocurrency space. Internet Money’s ease-of-use will help to ensure a simplified onboarding experience for the new crypto investor and will “seed” each new wallet created with a small “starter kit” of both PLS and IM on PulseChain, helping to onboard additional users onto the blockchain.

Features:

InternetMoney (IM):

The founders of Internet Money endeavored to create a token that would fulfill the original intention of Bitcoin— to be used as digital peer-to-peer cash. IM uses a simple contract to execute its utility of buying, trading, selling, and sending.

Holders of the IM token on BNB Chain will receive a 1:1 airdrop of IM on PulseChain and a 2:1 ratio of IM will be burned at PulseChain’s launch. For example, for every 1 IM token on BNB, 2 IM tokens will be burned on PLS from the Vault Wallet (a smart contract that holds accumulated fees earmarked for burning, determined by community quarterly vote). 

The Vault Wallet currently holds a total of 420 trillion IM tokens on the BNB Chain. However, remembering that a 2:1 ratio of IMD on PulseChain will be burned, the total supply will be much less on PulseChain than on the BNB Chain. As stated earlier, the burn will occur at launch of PulseChain and an additional “Vote to Burn” feature will be executed, contingent upon the community’s vote to do so.  Via the quarterly “Vote to Burn” function, the total supply held in the Vault Wallet will diminish over time, leading to a redistribution of percentages held by the Vault Wallet in relation to the community’s holdings and will contribute to progressive decentralization over time.

Each wallet will need to hold a minimum of $42 USD worth of IM token in order to have voting rights. This amount was specifically decided upon in order to disincentivize multiple wallet creation, while also helping to maintain affordable voting rights for the average crypto user.

In addition, a currently undetermined portion of the IMD supply will be used to accumulate PLS coins for the purpose of buying IM tokens from the open market and storing them in the Vault Wallet. The stored IM tokens will then be subject to a vote by the community via the “Vote to Burn” function in order to determine whether the IM tokens should be burned or not. 

Liquidity Pairs (LP) on PulseChain will be supplied with both IM / PLS and IM / USDL tokens.

As of April 6, 2022, Internet Money applied for a third time to be listed on CoinMarketCap. They received word on April 8th that their application had been accepted and was pending review.

The first burn on BNB Chain was performed on live stream on April 8, 2022 for a total of $2.3M worth of IM token.

Internet Money Dividend (IMD):

The Internet Money Dividend (IMD) token was created to serve as a form of decentralized & immutable passive income, in the form of PLS coins, generated from the fees originating on the Internet Money wallet each time a transaction occurs. No staking and/or delegating is required to earn PLS. Simply holding the token will earn the holder passive income in the form of PLS. IMD is best thought of as a “share” in the Internet Money wallet and the amount of your earned PLS is proportional to your IMD “share” holdings. IMD is native to PulseChain and has no admin keys, no taxes (as sometimes seen on BNB Chain projects), and the supply is fixed; it does not inflate or deflate.
  • Sacrifice Phase (IMD): The sacrifice phase for Freedom of Time began on March 14, 2022 at 00:00 UTC and was scheduled to run either until the $1.2M cap was reached (for Pool A) or 30 days had expired. Pool A reached its $1.2M cap in 1 hour 54 minutes, at which time additional sacrifice amounts spilled into Pool B. A total of approximately $1.58M was sacrificed for the IMD token.
The sacrifice phase was structured as follows: Pool A: $1.2M cap = 70.8% of IMD distributed to sacrificers in Pool A Pool B: No cap = 10% (if reached $2M) of IMD distributed to sacrificers in Pool B. Once Pool A reached $1.2M, all additional funds poured over into Pool B. From $1,200,001 to $1.3M, an additional 1% of the IMD supply was unlocked for Pool B sacrificers. An additional 1% of supply was then unlocked for each additional $100K sacrificed to Pool B on top of that until an additional 10% of supply was unlocked (at $2M USD sacrificed).
  • The final total sacrifice rate for Pool A was approximately 1,180 per $1 and for Pool B was approximately ???
  • The final total amount sacrificed was approximately $1.58M USD. The final total percentage of the sacrifice set’s supply is 78%. This is due to both a combination of Pool A and Pool B and a contribution of an additional percentage to the sacrifice set from the founders, thus increasing the total percentage of supply distributed to the sacrifice set.
IMD token rewards can be claimed as often as the holder desires, whether that be once a day, once a year or once every 10 years, via a simple claim function on Internet Money’s wallet / website. Another feature of IMD is that regardless of whether or not you sell your IMD, you will always have access to claim the dividend rewards accumulated up until the point of sale, even if you no longer hold the token. Furthermore, if a holder sells their IMD, from that moment forward, the rewards begin to accumulate on that new buyer’s wallet.

Certificate of Internet Money Dividend (CIMD):

Because IMD’s production release is currently slated for sometime after PulseChain’s mainnet launch, CIMD tokens will be issued to the sacrifice set. These tokens will be sellable and transferable and will be used by the sacrifice set to claim their IMD tokens at launch. This provides sacrificers with the option to sell or transfer their position prior to IMD’s launch, if required. It is recommended that the holder of CIMD never forfeit custody of their tokens as they may provide access to future IMD claims if launched on additional blockchains.

Internet Money Wallet:

The Wallet is the main component of the Internet Money ecosystem and the mission of the project is to onboard non-crypto users into the crypto space by providing them with a hassle-free onramp. New Wallets receive a small amount of both PLS and IM tokens to assist in their exploration of the blockchain. The IM Wallet strives to offer the marketplace with an option that improves the current user-experience and provides features that even the most advanced crypto users find to be state of the art. 

The Wallet charges .729% for each transaction that occurs and 100% of that fee is distributed to IMD holders in the form of PLS proportional to your holdings.

Devs team:

KG – Founder, Don Montoya – Co-Founder, Marco Giuseppe – Co-Founder, Kyle Cruise – Co-Founder

 *** Cryptocurrencies are highly volatile. Those who invest in them should be prepared to lose all their money. NOTHING www.howtopulse.com states, shares, expresses, or allude to should be considered financial advice or recommendations of action. This blog is intended for educational and entertainment purposes only. Consult a professional) for any tax, accounting or legal related questions you may have.***

Links:

Official Website: imcrypto.net

Social media: Twitter, Telegram, Reddit

Nothing in this article or website is financial or taxation advice. For advice on these matters, please contact a registered professional adviser.

Who Are We?

As members of the PulseChain community, HowToPulse.com mission is to make the onboarding process as simple as possible.
We did the research for you providing top quality information, tools, news and updates about PulseChain, HEX and PulseX

Ask us a Question