Brian Woodward DBA
Conjured Entertainment
DISCLAIMER:
The Conjured Entertainment ERC20 'SEED' Trust Smart Contract is not an investment, raffle, or lottery.
The contract is intended to be a public trust fund, inspired by the book of Matthew chapter 13 verses 18-23.
The contract accepts donations of 1 XRP (XRPL EVM Sidechain) through a function to "plant a seed".
When a donation is made, the donor's wallet adress is added to a data storage array as "farmers".
Once there are 300 donations, the contract selects 3 of the farmers as beneficiaries, and then resets the array.
Before resetting, the contract dispurses XRP from the donations to the three beneficiaries as follows...
1 beneficiary receives 100 fold... 100 XRP
1 beneficiary receives 60 fold... 60 XRP
1 beneficiary receives 30 fold... 30 XRP
While it is not probable for the same farmer to be chosen more than once, it is possible. ( more...)
The contract and the developer are listed as the first two farmers for each reset of the array (each "crop").
These automated data entries are a stipend for the developer and provide extra liquidity for the contract.
Rather than direct compensation of XRP on every crop, this method sends them XRP if they are chosen to receive funds as a beneficiary.
Each farmer element in the array has the same likelyhood of being chosen to be a beneficiary of the trust, 1 in 300 for each dispursement per crop.
If you've taken the time to do the math, then you can see that there are left over funds for each crop.
These funds remain in the contract to provide liquidity for the SEED tokens that are minted by the contract.
I have also incuded a function to prevent the contract from locking its XRP out of the XRPL EVM ecosystem.
The SEED tokens are not needed to plant a seed. In fact, they are given to donors to confirm/count their donations.
The contract also offers a way to BUY or SELL the SEED tokens without making a donation to the SEED Trust.
The BUY function MINTS the caller's SEED tokens.
The SELL function BURNS the caller's SEED tokens.
So, it is possible for donors to SELL their SEED tokens back to the contract, if the contract has the XRP liquidity at that time.
The BUY and SELL prices for the SEED tokens are fixed to XRP at a 10 to 1 ratio.
1 XRP = 10 SEED
1 SEED = 0.1 XRP
The Graph below illustrates how the donations to the SEED Trust are managed and dispursed.
SEED TRUST DONATIONS ARE NOT TAX DEDUCTABLE!
This smart contract public trust fund was not set up to have a non-profit status with any tax authority.
So, all payouts from the contract are taxable, as well as the capital gains earned by the contract.
The exception is the 10% going back to the donor as a SEED Token, because that is a refund of a portion of the donation being made and not a profit for anyone.
The contract owner is responsible for paying any taxes due by the contract to the jurisdiction that applies, using the contract's liquidity reserves.
Each beneficiary will be responsible for any taxes owed by them, for the XRP sent to them by the contract, to the jurisdiction that applies to them.
DO NOT USE THIS SEED TRUST FUND IF IT IS NOT LEGAL TO DO SO IN YOUR JURISDICTION.
IT IS EVERY DONOR'S RESPONSIBILITY TO KNOW AND ABIDE BY THE LAWS PERTAINING TO THEM IN THEIR JURISDICTION.
BY USING THIS SMART CONTRACT, YOU ACKNOWLEDGE AND ACCEPT YOUR RESPONSIBILITIES PERTAINING TO TAXES.
SEED TOKENS ARE NOT AN INVESTMENT.
SEED Tokens are given to donors as a confirmation of their donations to the SEED Trust.
By clicking on the
"AGREE & CONTINUE"
hyperlink below, you acknowledge that you understand, and agree with, the disclaimer above.
AGREE & CONTINUE