Orch Network FAQ

This FAQ provides answers to basic questions about Orch Network.
Check out our Advanced FAQ for more technical information.

General

What is the purpose of ORC token of Orch Network?

How will I benefit from buying and holding ORC?

Who initaited the Orch project ?

Why Orch is a great project ?

ORC ICO

What is ICO?

Which cryptocurrencies I can buy ORC token with?

Was there a PRE-ICO?

How many phases of ICO will be done?

How much have you raised in ICO so far?

When will I get my tokens if I buy them.

Is KYC required?

Are there any bonus discounts?

How do I claim bonus discounts?

What are the payment options for buying ORC Token?

When will get the tokens after buying them?

What will happen to investors and bounty participants of pycoin project ?

ORC Token

Can this coin be mined?

What is the hard cap and soft cap of ORC tokens?

How many tokens are reserved for bounty and airdrop?

What is the total supply of ORC tokens?

How many tokens is reserved for developers and founders team?

Development

What is the status of the project?

Did Orch evolve from pycoin?

What if algorand and byzantine agreement protocol?

ORCS Project FAQ

A. General

Which blockchain / DLT are you building on top of?

How does the stablecoin work?

What is the purpose of your coin? What does it aim to achieve and which problems does it solve

When we say something is stable what do you think it means?And when it comes to monetary policy specifically?

What is your revenue model?

B. Launch and marketing

What does the market need to be confident in the stability of your token?

How are you bootstrapping to that level of confidence?

What are your go to market strategies?

C. Economics

What is your coin stable with respect to?

How much volatility can this peg withstand? Is that the same for upwards and downwards pressure?How wide is the band of behavior it can support?

How easy is it to analyze the band of behavior from which it can recover?

How expensive is it to maintain the peg/stability mechanism?How transparently can traders observe the true market conditions?

Which monetary theory (theoretical) assumptions do you think are not true and how does your protocol account for that?

Does your stablecoin supply scale in response to demand? If so, how?

Who provides the capital to maintain exchange rate peg? How are they compensated / Why do you think they would continue to lock up capital, given other investment opps?

An eventuality plan in case of a “black-swan” event.1,2 The 1% case will happen eventually.

D. Tech

Are any novel consensus mechanisms used, over and above the underlying blockchain?

What transaction throughput can the blockchain currently handle and how does it plan to scale? Do its plans coincide with your plans for your estimated demand?

What tradeoffs does your protocol make and why did you make those tradeoffs? (supply/demand, temporarily peg breaking) (censorship resistance) (privacy tradeoffs) (accuracy of present market data and ease of manipulation of the data feed protocol uses (responsiveness of market and ease of manipulation)

Are there any centralized components of your system? Would any of these be easy for govs to shut-down?

Company And Team

Where is Orch Foundation? And How to become board member of our foundation?

How to be part of Orch Developer Community?

Listing

Will ORC be available on the crypto exchanges for trading?

Airdrop And Bounty

When will the Airdrop end?

When will the bounty Orch and airdrop tokens be distributed?

Distribution

When will I get my ORC tokens?

Which exchanges will support ORC?

How many tokens is reserved for Orch Treasury?

General Questions

Q: What is the purpose of ORC token of Orch Network?

Orch (symbol: ORC) is the native token of Orch Network decentralized platform for Turing Incomplete cyber contracts running on a realtime unforkable blockchain federation called StarCash. Users and developers will need a minimum lot of 100,000 ORC tokens to test and power their applications such as Unmanned decentralized exchanges (DEXs), Crypto-darkpools, Decentralized DNS Clusters, CDNs and decentralized realtime gaming and casinos and so on. This will most likely be the primary driver of demands for ORC.

Q: How will I benefit from buying and holding ORC?

The benefits of buying and holding ORC tokens are multifold. First, you can expect sharp appreciation of its value once our mainnet goes live in 2019.
Second, due to its realtime unforkable blockchain federation Starcash, neither Orch platform nor Orch ecosystem dApps and smart contracts powered by it can be easily replicated unlike most forkable blockchains. That would result in an increased demand for ORC tokens from both users and developers in the mid to long-term.
Third, you will be able to use ORC mainnet coins to access one or several Orch powered dApps/smart contracts.
Fourth, all ORC token holders having minimum balance of 1 Million ORC coins or more will automatially receive equivalent number or ORCS non-sovereign non-collateralized stablecoins. ORCS stablecoins will have its value stablized relative to USD, Euro and CHF. So with these attributes, ORCS is an ideal candidate for long/short-term wealth storage and for making payments online anonynously and likely to replace fiat cash progressively in the near future.

Q: Who initaited the Orch project ?

Orch was initiated by Veterans of the cryptoworld Daniel Kaminski de Souza, Ethereum Classic (ETC) cofounder and Ren Timer, the technical brain behind many cutting edge computational technologies and cybernetic tools.

Q: Why Orch is a great project ?

Orch is the most comprehensive and exquisite blockchain infrastructure project undertaken so far in order to power the decentralized web of tomorrow and realtime decentralized apps. We are a number of steps ahead of many of the crypto & blockchain projects and we have a grand vision for the future of the decentralized world.

ORC ICO Questions

Q: What is ICO?

An ICO is similar to Initial Public Offerring or IPO where tokens instead of stocks of a decentralized platform are offerred to the public and stakeholders including developers and backers. With an ICO you have a chance to back early stage decentralized projects and see great growth in capital.

Q: Which cryptocurrencies I can buy ORC token with?

You can buy ORC tokens with the 5 most popular cryptocurrencies i.e Bitcoin, Ethereum, Monero, Litecoin and Bitcoin Cash. Detailed step by step instructions can be found on our ICO page

Q: Was there a PRE-ICO?

There was a Presale back in January to February 2018.

Q: How many phases of ICO will be done?

There will be multiple phases till we raise our target of USD 50 Million or more.

Q: How much have you raised in ICO so far?

We have raised around USD 37 Million, mainly from institutional investors.(As on October 5th 2018)

Q: When will I get my tokens if I buy them.

As soon as you complete the process of purchase you will recieve your tokens Immediately.

Q: Is KYC required?

No, KYC is not mandatory.

Q: Are there any bonus discounts?

Yes. We do provide bonuses for big investors. Do contact us and we will help you get your bonus.

Q: What will happen to investors and bounty participants of pycoin project ?

They will get equivalent amount of ORC Tokens.

ORC Token

Q: Can this coin be mined?

Yes, by running a peer-to-peer node of our mainnet you can mine ORC coins.

Q: What is the hard cap and soft cap of ORC tokens?

The hard cap is USD 150 Million and soft cap is USD 55 Million.

Q: How many tokens are reserved for bounty and airdrop?

3.2% of ORC tokens are reserved for the developers and the founders team.

Q: What is the total supply of ORC tokens?

The total supply of ORC tokens is 62,000,000,001

Q: How many tokens is reserved for developers and founders team?

4.5% of ORC tokens is reserved for the developers and the founders team.

Q: How many tokens is reserved for Orch Treasury?

10% of ORC tokens is reserved for Orch Treasury.

Development

Q: What is the status of the project?

Orch project is under active development now. Alpha testbed is being created. A testnet will be launched by March 2019 followed up by our mainnet launch. Check our roadmap for the full timeline.

Q: Did Orch evolve from pycoin?

Yes. Orch is an evolution of the Pycoin project far more superior in technology & vision.

Q: What is algorand and byzantine agreement protocol?

Algorand is a new kind of superfast unforkable(practically unforkable) blockchains proposed by Professor Silvio Micali of MIT. Algorand by scaling Byzantine Consensus Agreement and Blockchain Protocol.

ORCS Project Faq

A. General

Q: Which blockchain / DLT are you building on top of?

We are building it (ORCS) on top of our own realtime unforkable blockchain platform Orch.Network and its underlying blockchain federation known as Starcash. Orch mainnet will be launch in mid 2019.

Q: How does the stablecoin work?

Orch stableccoin(ORCS) works as a non-collateralized coin via dynamic automated coin-split/reverse coin-split. It automatically stablizes its purchasing power by monitoring four cardinal internal and external indicators/indices in realtime: 1. average transaction fee of the underlying realtime federated blockchain, 2. Hashrate of the ORCS Subprotocol, 3. OECD CPI data and 4. Coinship decentralized exchange index.

Q: What is the purpose of your coin? What does it aim to achieve and which problems does it solve

There are several use-cases and the problems ORCS solves:
1. Inflation-Protection
2. Mass adoption of permissionless cryptocurrencies and crypto-denominated digital assets
3. settlement currency for crypto-derivatives and crypto-denominated tokens
4. A currency for macro and micro-payments with low transacton fees
5. A non-sovereign non-collateralized high-velocity reserve asset
6. ORC-denomnated Tail-risk Insurance/reinsurance products to manage negative Blackswan events and an investment vehicle to expose one's portfolio of assets to positive blackswans and earn exponential returns
7. A currency for asset-backed tokens and synthetic assets

Q: When we say something is stable what do you think it means?And when it comes to monetary policy specifically?

A stablecoin is a permissionless cryptocurrency that enables its users to retain their purchasing power in the short and long-term because of significantly reduced volatility and other factors such as privacy, infinite-divisibility and high-velocity of transaction capability(in terms of tps etc). Monetary policy of ORCS is planning and implementing whatever it takes to preserve pruchasing power of ORCS-holders/users at all times.

Q: What is your revenue model?

The major revenue of ORCS is earned from perpetual Truth Game( based on Schelling Point Vector) for rebasing its price as a game management fee. Besides ORC coins held in Reserve Treasury of Orch Network (10% of the money suppply at the time of genesis and never to be distributed) will be auctioned out to wholesale borrowers for short-term(361 days max) only at a floating rate to be decided by anonymous voting of ORCS-holders and demand-supply forces. The interest earned thru the lending mechanism will be another form of revenue apart from the truth game management fees.

B. Launch and marketing

Q: What does the market need to be confident in the stability of your token?

Our ORCS coin will be a mainnet appcoin layered on top of our Orch Network realtime unforkable blockchain infrastructure. Being unforkable makes it hard for potential adversaries and the competition to replicate it. Orch Network unveils the era of true decetralization without compromising on integriy and performance of the platform including its dapps such as ORCS. Besides our own crypo-exchange Coinship will provide necessary liquidity to ORCS as well as ORC tokens.

Q: How are you bootstrapping to that level of confidence?

Simple, dedicated systematic efforts and reinvesting internal accruals earned from other Dapp projects.

Q: What are your go to market strategies?

We plan to enter into strategic partnerships with institutional investors, reinsurance companies, star developers, youtubers and digital marketers worldwide.

C. Economics

Q: What is your coin stable with respect to?

OECD CPI and a basket of hard currencies comprising of USD, Euro and CHF.

Q: How much volatility can this peg withstand? Is that the same for upwards and downwards pressure?How wide is the band of behavior it can support?

There is no artificial peg. ORCS is not a pegged currency. It’s a non-sovereign algorithmic high-velocity stabelcoin which can double up as an alternative reserve asset. 100 basis points price up and down with respect to USD it can support.

Q: How easy is it to analyze the band of behavior from which it can recover?

Quite easy.

Q: How expensive is it to maintain the peg/stability mechanism?How transparently can traders observe the true market conditions?

Not reallly expensive as the whole subprotocol of ORCS along with its metaprotocol Orch Network is a self-planning self-learning goald-driven autonomous system.

Q: Which monetary theory (theoretical) assumptions do you think are not true and how does your protocol account for that?

Applying Quantity Theory of Money and Seignorage shares to a stablecoin is fallacious. Similarly Efficient Market Hyperthesis is based on a falsehood. There’s no need to auction bonds or seignorage shares for expanding or contracting the money supply. We at ORCS implemented automated electronic coin split/reverse coin split in realtime to supersede such misleasing theories in the 21st century. ORCS automatically expands and contracts coin supply in realtime as a tactical response to any drastic deivation in purchasing power.

Q: Does your stablecoin supply scale in response to demand? If so, how?

Supply of ORCS tokens automatically scale up or down in response to indicators/indices and market forces. ORCS subprotocol of Orch implements a coin split (like a stock split) as a mechanism of this dynamic money supply policy. For example, if John holds 1 ORCS and demand for the stablecoin rises, the system would electronically change John’s balance to 1.03 ORCS in his ORCS Orch-powered mainnet wallet. For a contraction, a “reverse coin split” would change his balance from 1 ORCS to 0.97 ORCS

Q: Who provides the capital to maintain exchange rate peg? How are they compensated / Why do you think they would continue to lock up capital, given other investment opps?

This question is not applicable to ORCS as it’s a non-collateralized autonomic stablecoin.

Q: An eventuality plan in case of a “black-swan” event.1,2 The 1% case will happen eventually.

ORCS is designed to withstand such Blackswan events, both positives and negatives. ORCS protocol can autonomously respond to any death spiral created by negative or positive feedback loops due to its 4 sensory feeds and read/write capabilties to internal and external realtime data sources.

D. Tech

Q: Are any novel consensus mechanisms used, over and above the underlying blockchain?

Yes, dynamic automated coin-split and reverse coin-split as the case may be.

Q: What transaction throughput can the blockchain currently handle and how does it plan to scale? Do its plans coincide with your plans for your estimated demand?

Underlying realtime unforkable federated blockchain Starcash of Orch Network scales explonentilaly as number of P2P users-miners grow. So with 10,000 users-miners it can handle tens of millions of transactions per second, with 100000-miners it can handle close to a billion transactions per second(1 Billion tps).

Q: What tradeoffs does your protocol make and why did you make those tradeoffs? (supply/demand, temporarily peg breaking) (censorship resistance) (privacy tradeoffs) (accuracy of present market data and ease of manipulation of the data feed protocol uses (responsiveness of market and ease of manipulation)

We have not made any such tradeoffs as we are leveraging the most advanced future-proof relatime unforlable blockchain technology in the world. BTW ORCS leverages built-in homomorphic functional encryption and secure multiparty computation layers of Starcash blockchain for implemneting payer-payee and balance privacy.

Q: Are there any centralized components of your system? Would any of these be easy for govs to shut-down?

No. Absolutely not. ORCS is self-governed by its token holders as per Orch Network Self-governance protocol as a decentralized organization.

Company And Team

Q: Where is Orch Foundation? And How to become board member of our foundation?

Orch foundation is being registered in Switzerland. Any ORC token buyers with minimum 1 illion balance can become a board member of our foundation. Just send us an email to info@orch.network with your wallet address and we will take care of the rest.

Q: How to be part of Orch Developer Community?

By applying for any of our remote jobs posted on our website. You can also write to us if you want to work with us but don't see your role on the website.

Listing

Q: Will ORC be available on the crypto exchanges for trading?

Yes, Orch will be on multiple exchanges soon starting with coinship.trade.

Airdrop And Bounty

Q: When will the Airdrop end?

This first two rounds of airdrop has ended and the distribution will be made soon.

Q: When will the bounty Orch and airdrop tokens be distributed?

You can claim them from the dashboard

Distribution

Q: When will I get my ORC tokens?

Immediately

Q: Which exchanges will support ORC?

Several exchanges will support ORC including our own exchange coinship.trade. Announcements on exchanges listing ORC tokens will be made on our Telegram channgel and groups as well as on bitcointalk and twitter.