4. Traditional Crypto Funding Drawbacks
- Pre-mine leads to pump and dump
- No one is taking responsibility mean the network is left for overtaking
- Group benefit vs Network benefit - Free riders issue
- Software is not regularly maintain, developers focus on what make profits
- Maintenance work requires sustainable and stable funding
- Developers prefer new techs rather than older techs
- Developers are working in hostile environments with full of threats and stress
- Off chain scaling leads to lower profits over time for miners when inflation is
lowered
- Security is not only about hash, but also maintenance, support and developing
new technologies for future proof
>> Values are created not just via Mining but also via Apps & Services.
5. Tether - BTC model
Pump
Dump
Infinite Supply
Controlled by
private entity
No backing
Fixed Supply 21M
Costly to transact
Costly to store
4.3MWh/1BTC
Energy consumptions for Bitcoin is not relative to its utility but
closely tied to its price, which can be very high due to scarcity.
6. Centralized stable coin and energy
consumptions
- The most valuable stablecoin Tether is controlled by a private entity
without provable backing
- Bitcoin price can be manipulated via Tether printing
- Higher Bitcoin price resulted in higher energy consumptions without
increase in Bitcoin production due to fixed production schedule
>> Lack of a decentralized stablecoin for day-to-day transactions and
arbitrary energy consumptions unrelated to real demand.
7. P2P Cash – Bitcoin Still Slow and Expensive
• Low throughput: 7 TPS (Transactions per second)
• Expensive: $10+ / transaction (can be $50+ during congestion)
• Slow: 10 minutes for 1 confirmation
• Transactions are never final. Can always be reverted if enough hash
power → an ongoing energy waste.
9. Why does bcPro exist?
• We are after the open source funding with network funding
mechanism
• We support for decentralised stable crypto currencies for everyday
use
• We aim to bring the decentralisation technologies to the mass via
education and utilities
• We commit to minimize the energy waste by investing into green and
efficient energy
➢We have chosen to support for Lotus and eCash which has direct
network funding and strong core team.
10. Keepers
Passive Rewards
Miners mine
when there is value
Use
Utilities
Security
Miners
Infrastruc
ture
Users
Builders
Value adds
Builders create values
to receive more values
Right balance between Users – Miners and Developers
Forming the three Pillars of the eco system for stability and sustainability
Keepers Builders
Direct Network Funding
11. Key Technical Specifications
eCash (XEC) Lotus (XPI) BTC
Bitcoin Genesis Block
(3-Jan-2009) Yes No (21Jul21) Yes
Total Supply 21 Trillions On Market Demand 21Mil
Circulating Supply
(Aug 2021) 18.7 Trillions 60M 18.6Mil
Inflation Control No Log(Electricity) & 50% Fee Burnt No
Price Stabilization No Based on electricity cost and Fee Burnt
Advanced stabilization is planned
Block time 10 Minutes 2 Minutes 10 Minutes
Block size 32MB (200+ TPS)
(Adjustable)
32MB (200+ TPS)
(Adjustable)
1MB
(Fixed)
Scaling On Chain
(Big Blocks)
On Chain
(Big Blocks)
Off Chain
(SegWit)
Fast confirmation Pre-Consensus
Avalanche(Planned)
TBD N/a
Reorg and 51% Attacks
Protection
Post-Consensus
Avalanche
Post-Consensus
Avalanche
N/a
Core teams Bitcoin ABC Logos Foundation Bitcoin Core
Infrastructure funding 8% 50%
13 shares funded to select projects
Sponsorship
Funding decision making
Bitcoin ABC
Global Network Council
Logos Foundation N/a
12. A brief history
BTC BCH eCash
Lotus is a fresh new chain built on top of eCash (Bitcoin ABC)
with a new genesis (No block history)
13. eCash Advantages
• Community Support 4000+ Telegram Group Members
• Vietnam Community: 160+ Telegram Group Members
• Strong technical team. Founders of Bitcoin Cash (BCH) since 2017.
• Own Bitcoin core software and wallets
• Develop Avalanche consensus for fast finality and reduce energy
• Roadmap to focus on improving performance and scalability of eCash
➢The goal to become a global P2P electronic cash → eCash
14. eCash Market
• Currently traded at $100 / 1M eCash
• Market cap: $1.8B
• Listed in many major exchanges (Binance, Houbi, OKEX, Coinex…)
• bcPro Group currently owns 946M eCash
15. Lotus Advantages
• Starts from afresh – no burden from Bitcoin history, but inherited from Bitcoin codebase (BTC → BCH → BTC
→ eCash → Lotus)
• Issuance based on logarithm of electricity consumptions for stable price but still scarcity as energy with
increased difficulty for inflation control
→ Limit energy waste as more Lotus means more utility.
• Breaking changes can be applied as lesson learned from 10+ years of Bitcoin history
• 50/50 rewards to miners and developers allow wider adoptions, fosters Giving culture
• Ability to develop DelayedPoW to avoid PoS consensus for Avalanche
• bcPro Group is funded as part of 13 projects from Lotus mining.
16. Key takeaways
• Direct network funding enables stable and sustainable funding, as
well as tight incentive for developers
• Avalanche technology allows faster confirmations and finality
• Promising P2P Scalability technologies on Bitcoin ABC’s roadmap
• Electricity based issuance will help stabilize price and demand-base
energy consumptions, avoid waste
• 50/50 split of mining rewards in Lotus direct more funds to build up
development, maintenance and adoptions → Give To Change.
➢This is a unique opportunity for Vietnam to take on the crypto
market.
18. bcPro Group Organizations
bcPro Group
AbcPay
SendLotus
AbcPros
Foundation
GiveLotus2VN
Crypto Wallet
Payment Gateway
Financial Tools
Mobile Games
Education & Onboarding
Open Source Funding
Crypto trading and holding
Lotus Support – Stamp & DApps
Distributed Technologies
Solar Energy
delayedPoW
Adoption for GiveLotus:
Permaculture
Digital Privacy
Renewable Energy
Humanitarian Effort
Human Rights
23. Our Products - Send Lotus (WIP)
• Simple mobile wallet (Similar to www.cashtabapp.com , no token
support)
• Web hosting – no need app stores
• Instant updates and publishing
• Installable as an app in iOS, Android, Mac, PC (via browser)
• Browser extension for online payment integration.
24. Our Current Programs & Projects
• GiveLotus2VN
• Automatic Market Marker - A swap utility for eCash and Lotus
• Stamp - Decentralised P2P Social Network Platform
• Dapps
25. Meet the team
@nghiacc
20+Y in IT Career
5+Y in Crypto
Proficient in program
and project mgnt,
Mathematics,
Economics
@kensaurus
14+Y in IT Career
2+Y in Crypto - A
crypto “Farmer”
Proficient in business
support and
coordination.
@vince8x
10+Y in IT Career
3+Y in System
Design
Core developer
@tara
15+Y in Marketing
Proficient in
marketing and
business
27. What is bcPro token?
• bcPro Token is similar Axie Infinity, but instead of Play to Earn,
contributors must Work to Earn bcPros
• bcPros are issued on eCash network instead of Ethereum because:
• Cheaper: Transactions on ETH cost xx USD, whereas it is a fraction of a cent in
eCash
• Simple, faster for mobile wallet due to SPV (Simple Payment Verification)
• Strong commitments from Bitcoin ABC to scale and develop eToken
• Only 2.5M bcPros will ever be issued
*Notes: Initially the supply of bcPros are not locked yet due to safety concerns and lost protection. Once holders are familiar with
Crypto tokens, bcPros issuance will be locked. However bcPro Group does not guarantee to recover any loss from holders.
28. bcPro Issuance
Total 2.5M bcPros will be issued:
• 500K bcPros for Seed Funding for initial investment and expenses
• Founded on December 21st, 2020
• 950M eCash
• 10K USD (Hardware, hosting, salary)
• Domains and Intellectual Properties
• Issued on eCash since March 2nd, 2021
• 1.5M bcPros for development funding in 4 years
• 10K bcPros / week for first 2 years
• 500K bcPros for funding sales and contingencies
• Introductory offer 100k bcPros
31. Why invest to bcPros?
Want to get into crypto but don’t know where to start?
➢We are experienced in crypto market and technologies
➢Limited issuance, backed by crypto assets (eCash and Lotus)
➢Chance to participate to board voting and decision making
➢Earn interests from products and services (Lotus, eCash…)
❖Join our mission of achieving P2P cash for daily payment on sustainable energy
❖Rare opportunity for Vietnam to collaborate and develop with Bitcoin core developers
❖Realize Vietnam potential on development resources and solar energy (See Appendices)
❖Educate and develop Vietnam crypto awareness and skills.
32. Introductory Offer Pricing
• Sale amount: 100K bcPros
• Contributors with unspent bonus can buy at price of $0.1/bcPro
• Contributors with outstanding EATs (not from bonus), can buy at price
of $0.15/bcPro
• Contributors who earned bcPros until block 19 can buy bcPros at
price of $0.15/bcPro, max at 1/10 of earned bcPros
• The remaining bcPros will be on sale for $0.2/bcPro.
33. Tokens Offer Information
• Token ID:
5a68fe2909240832f5e3de0d57cb8d622934f47ee7ab7b2ba49d5295a581ca
13
• Information: http://token.bcpro.group/
• bcPro tokens will be sent to Cashtab wallet (cashtabapp.com by eCash)
• Accept: eCash (XEC), Lotus (XPI) VND (Over the counter/bank transfer)
• Receiving addresses:
• eCash: ecash:qqu0xq2uu43nhw9x2y6g30zsve6e6c98tv5yk6xy0r
• Lotus: lotus_16PSJP7tvdkAptCYkA245DPgz46scwAKXVKHGVdQa
• Sale slot: 1000 bcPros each x 100 slots. Max 5 slots / person.
• Sale periods: Inform separately.
34. Summary
• bcPro Group emerges from the opportunity to support for
GiveLotus.org and e.Cash with direct network funding
• Currently in good financial standing with strong eCash holdings and
steady Lotus incomes
• Experienced staff, salary paid via token issuance with strong incentive
• Crypto onboarding and educational services to help Vietnam people
to understand crypto and P2P technologies
• Promising technologies from eCash and Lotus core teams
➢An opportunity for Vietnam to catchup with the third wave of Crypto
development
35. References
• Group website: http://bcpro.group
• AbcPros Foundation: http://abcpros.foundation
• GiveLotus2VN https://fb.com/GiveLotus2VN
• Work to Earn: http://work.bcpro.group
• bcGroup Telegram: https://t.me/s/bcProTx
38. PoW PoW + Avalanche
Post Consensus
?
Majority Win
Most Hash Always Win
Nodes get consensus via a chatty process
(Avalanche consensus)
? ?
New block New block
follow
Avalanche
consensus
Reorg
1
2
3
4
5
A reorg attack occurs
Node broadcast conflicts
6
Attacker’s chain
abandoned
Avalanche Post Consensus helps smaller networks secure without expend as much energy as with BTC and faster confirmation
39. Delay Proof of Work
• Use Avalanche consensus
• Nodes staking with unspent coinbase reward
• Validity for 2 years
➢Avoid becoming controlled by Proof of Stake consensus. Miners are
the only one who can participate into the Avalanche consensus
41. New Issuance = Log2(Electricity)
More Lotus is printed the more electricity has to be consumed.
Lotus is as scarce as the electricity. There is no waste unlike Bitcoin.
Energy Based Issuance
42. Market Demand Coin Issuance
Bitcoin Issuance Model Lotus Issuance Model
Time Time
Hashrate
Issuance
Hashrate
Issuance
With constant and scheduled halvening
Bitcoin price often fluctuates greatly
With market demand coin issuance
Lotus will balance between network and price growth.
50. Circle types
• Operating Circles: are funded by the network, hence the EAT are
granted directly from the Operating Fund.
• During the pre-launch of Earth.cash, Operating circles are generating energy
via contributors’ energy, and can be converted to bcPros
• EAT converted to bcPros will be transferred to EAT Reserves for future use as
the currency for Earth.cash
• Entrepreneur Circles: Are funded by partners. Partners must buy EAT
to fund for the labor access. Partners will pay 10% for Bench fund and
Operating Fund. Benefits:
• Access to a large, skilled and loyal pool of resources
• Ability to convert DoC to bcPros.
51. Circle Formation
Lead link
Rep link
Facilitator
Secretary
Role
Role
Cir
cle
Contributors Contributors fill
roles in circles
with approvals from Leads
Lead defines its circle and roles
and invites & accepts contributors
Members vote for
- Facilitator
- Secretary
- Rep link
52. Holacracy Matrix
Contributors
L1 - Associate
L2 - Professional
L3 – Core
L4 - Senior
Beardista
Pathway
Level
Dev QA Marketing
Matrix position is determined by colleagues,
circle members and lead link.
Beardista to help interpret the model
and facilitate the process
Operation
54. Merit Increase and Promotions
Current Level
Lower Level
Next Level
Each level will have pay steps which is determined by
the Days of Contributing at the current level.
Days of
Contributing (DoC)
Annual Increase
0 1100 2200 3300
Associate
Professional
Core
Senior
Promotion criteria:
- Associate: 1100DoCs Avg. 800 Min.
- Others: 2200DoCs Avg, 1600 Min.
Avg: More than 50% circle votes.
Min: 1. More than 75% big circle votes.
(Big circles > 100 FT members).
And 2. No negative feedback.
55. Compensation Projection
DoC
Pay rate
0 1100 2200 3300
Associate
Professional
Core
Senior
Payout weekly per DoCs contributed by level step.
DoCs can be partial, e.g. 10%, 20%, 50%, 100%.
Timesheets are public, approved by lead.
Full time contributors 5DoCs/week max. Other
contributors 2DoCs/week max.
Max 230DoCs/365 rolling days.
56. Energy (EAT) vs bcPro
In 2021, 10,000 bcPros are issued to all contributors per week (Except holidays –
decided by BoD)
Weekly timesheets are submitted
Contributing energy (EAT) are converted from DoC based on their Energy level
(refer to Energy Level Rate table)
Members can choose to convert to bcPro or keep EAT.
All bcPros will be distributed to members who wish to convert their EAT
Conversion to USD is depending on current balance sheet, published weekly.
bcPro is not held liability for converting EAT to USD
Members can exchange or sell EAT or bcPros to each others
EAT holders are not eligible for board voting and earning interest
bcPro Holders can participate into board voting and earning interest
57. Bench Hours
• For every 20 DoCs, contributors are entitled for 1 Bench Day
• Contributors who already contribute more than 230DoCs, can claim
bench days to convert to DoC, given not exceeding total 230DoC in
365 rolling days
• The bench days are paid at current energy level, regardless of when it
was credited.
58. Severance Fund
• Severance Fund is funded from Micro Reserve
• Paid to contributors for DoC of past twenty years (20) on weekly basis
• Amount = Severance fund * [Contributor’s Energy (20yrs) / All Energy
(20yrs)]
• Note: Severance Fund is not warranted. It depends on the excessive
value of the network. If no value is generated to Micro Reserve fund,
then it is not sufficient to pay out to contributors.
59. bcPro Contributors
• 3 Fulltime Contributors
• 10+ Part time Contributors
• Planned to grow to 5+ Fulltime Contributors by year end
60. Down Scaling
• When business down scaling, the leads must reduce the utilisation of
part time contributors and maximise the utilisation of full time
contributors.
• Contributors may use the bench hours as needed during the low
utilizations.
61. Business closure
• On the event of worsening business conditions, for which the
operation of bcPro is no longer viable, the Steering Committee may
decide to close the business.
• All the outstanding balance must pay out to current Full time
contributors.
• All EATs issuance must be redeemed at USD rate at closure time.
• Any remaining balances (Lotus & eCash or other assets) will then be
distributed to bcPro shareholders per current holding at the closing
time.
62. SWOT Analysis
Strengths
• Interests in crypto is getting higher
• Industry awareness in blockchain
• Steady funding from Lotus
• Unique tech (delayedPoW + distributed energy)
• Trending: Energy saving, low fee and decentralisation
• Good technical team and low cost
Weaknesses
• Rely on Lotus and/or eCash’s successes
• Lotus is still a young network
• Lack of experience in crypto dev
• Lack of wider crypto community support
Opportunities
• Stamp work
• AbcPay with fee structure
• DApps
• Next generations (Z, Alpha) who are more
environmental awareness
Threats
• Unable to sell network values to contributors
• Lotus failure
• ABC failure
• Existing/new chains adopt new model and tech
• Crypto Winter