FAQ

We will expand and update this section over time. If you have further questions, or have a suggestion on questions to add, feel free to direct them to questions | at | ananas.org.uk with 'FAQ' in the subject line. 

 

Q: What is a token?
A: A token is a cryptocurrency, a tradeable digital asset that holds value and can be used for different purposes. What makes cryptocurrencies special, is that each are inherently unique, limited in supply, and owned by the token holder alone.
Learn more: Basic guide and infographic (Chipin)
 

Q: What is the Anacoin?
A: The Anacoin (symbol: ANAT) is the specific cryptocurrency for use on the in-development Ananas Platform that is intended to be used for specific tasks such as sponsorship and staking as determined by the Ananas Foundation. Anacoins have no monetary platform and are used to show support on the platform via sponsorship, to stake for verification purposes and to reward contributors.

Learn more: ERC-20 token standard (Ethereum WIki) - Token Economies (Medium, CIO Emad Mostaque)

Q: What are you building exactly?
A: Ananas is building a database for content and a platform for multiple purposes. Our database will be a unique resource for knowledge, that stores all the content in standardized formats: text, metadata, and knowledge graphs. The platform can roughly be divided in three parts:

  1. The social platform, which allows people and communities to come together to engage in discussion and interaction. In addition to including a conventional forum-style section, it will also allow communities a degree of freedom and choices in defining their community's structure and rules.
  2. The data platform, which will host the wealth of our collective knowledge in unprecedented detail and richness. The data will be in standardized formats: text, meta-data, and knowlede graphs. This means that as the content grows and becomes elaborated, there will be immense freedom in navigating and utilizing this data.
  3. The consumer platform, where a variety of tools and environments will be made available for different purposes. Accessible but powerful tools provided by the foundation, and later on by the community as well, will allow an unprecedented freedom in navigating or contributing to the shared knowledge. Our unique incentive and disincentive system will align everyone’s goals together, both rewarding valuable members of the community, and filtering out bad actors.

Learn more: Basic guide and infographic (Chipin) - On subjective knowledge in a fake news era (Medium, CIO Emad Mostaque)

 

Q: Why are you starting with the Quran?
A: The Quran is the central text in Islam, the second largest religion in the world. Islam currently lies at the center of various societal and political issues - such as extremism and islamophobia - that reflect how vulnerable ideological belief systems are to exploitation and distortion. There is an incentive for all, regardless of cultural or religious affiliation, to reverse this exploitation, to stop the divisive forces that materialize from it.

In addition, the Quran was a very practical choice. Firstly, because it is highly structured, organized in chapters and verses, allowing to discern which specific parts would be most valuable to contextualize and clarify. Secondly, the controversy surrounding Islam and the Quran is the ideal challenge for our incentive-based system. We hope to show how that effective collaboration and resolvement of groupthink is possible, despite strongly opposing views.
 

Q: At what rate are Anacoins being distributed?

A: During the crowd sale, Anacoins will be allocated at a rate of 50 per US dollar ($0.02 / ANAT). 150 million will be made available during the crowdsale. The motivation behind this is accessibility: Ananas will rely on the motivation and engagement of a diverse community, so we ensured that there is an opportunity for everyone to own tokens.
 

Q: What is the target amount to be raised?
A:
For the crowdsale, we are aiming for a $1.5 million soft cap, and $3 million hard cap, to fund multi-disciplinary research, development, and fair salaries. All proceeds will be used to further the platform, but the sale can close any time after the soft cap is reached.  

Q: What will drive Anacoin value?
A:
Ananas’ ecosystem is designed to align the perceived value of Anacoin with the value and utility of the platform. The subjective nature of knowledge that Ananas and its communities will create carries a natural weight and meaningfulness to it - different parties will be incentivized to take part in its development, and become part of the unique communities it will be home to.

As the content grows in size, diversity, and quality, not only will it increase the demand to take part in the maintenance and development of subjective knowledge, but also expand the usefulness and functionality of the content, an aspect that will be explored both by the Foundation and the communities. Finally, the ecosystem is designed to reward communities and members, aligning disparate groups to the success of the platform.  

Q: How many coins are going to be issued?
A:
A total of 1 billion.
 

Q: How are they are going to be distributed?
A:
Publicly sold coins will be accessible to and exchangeable by anyone. We will also strategically distribute coins to partnerships committed in contributing to the diversity and expertise of the Ananas Foundation.
 

Q: How do holders interact with your platform, get access and keep informed?
A:
We strongly believe in building transparent and strong relationships with everyone interested in, and contributing to Ananas. We value Anadoin holders, and provide various ways for our supporters to be involved in the process of development and research. We will be committed to regular and transparent communication, and are hoping that supporters will also be interested in engaging actively. After all, our long term vision is for the platform to grow autonomous and decentralized.

After the launch of the platform, we will gradually establish an internal infrastructure with the precise purpose of building a decentralized governance system alongside the Ananas community.

 

Q: What currencies (crypto, fiat) will be accepted as payment for Coins? Is something like ShapeShift required for conversion?
A:
As we will incorporate Stripe payment during our token sale, all common forms of (fiat) payment will be accepted, in addition to ETH payments.
 

Q: Are US citizens able to buy Anacoins with the recent SEC ruling?
A:
Yes. It is highly unlikely that Anacoins are considered securities by SEC standards at the time of writing as they are used for sponsorship on the platform and confer no other rights or obligations. They are akin to sponsored bricks sold by charities to help build buildings, but instead digital bricks to build a platform that confer status through sponsorship. The same holds for the Hong Kong SFC statement. Learn more: Emad Mostaque on the SEC ruling (medium) - SEC ruling on DAO and securities - HK SFC statement 05-09-17

 

Q: What’s the long term vision?
A
: *The long term vision of Ananas is to have all the subjective knowledge in the world openly accessible, richly contextualized, and protected from forces of bad influence. These subjective beliefs that we embrace are the ones closest to our identity, culture, and world views - making them very powerful in shaping cultures and individuals, but also utmost vulnerable to distortion and exploitation.

We believe that the only way to achieve these goals, is to create what is known as a commons, a space that is collectively owned and independent from any central authority. Nobel Laureate Elinor Ostrom (2009, Economy) pioneered and elaborated her influential theories, aiming to solve the ‘tragedy of the commons’. The long term societal vision is for knowledge to be seen as everyone’s responsibility, with every family having a stake in the Ananas ecosystem.

The end result will be a central resource, containing a complete resource of the world’s subjective knowledge, which will provide continuous insight into our collective nature as humans, in all its similarities and rich diversity, preventing unnecessary societal conflict and division. The platform will have matured into an ecosystem by design, free from bad influence, maintained and governed by a diversity of people most fit to do so, and trusted by everyone.
Learn more: Nobel Prize - Ostrom on ‘Common resources’ - Revised version of Ostrom’s Design Principles - Christopher Allen