FAQ

Anybody that has Lotus is a Citizen.

The best way to get Lotus is to be given Lotus. If you join our Telegram community and engage with others, you will be given Lotus. You can also get Lotus by becoming a Miner for the Treasury.

Currently, only the Exbitron exchange lists the Lotus ($XPI) / $USDT trade pair. The Stewardship has no plans to request additional exchange listings directly. However, as adoption and demand of the Lotus currency grows, it is inevitable that exchanges will begin listing Lotus.

The first block of the Lotus blockchain was mined on June 21, 2021 at 3:31 UTC

Yes, it is under active development. It will be linked on the home page in the near future.

The Lotus blockchain undergoes a scheduled upgrade twice per calendar year, beginning every Summer and Winter solstice. These upgrades are coordinated by the Stewardship through changes to the open-source software. Once the Treasury and Citizenry are in consensus with the proposed changes, the changes are then adopted and become the new consensus for the Ecosystem.

Contrary to the existing model of representative government, the Stewardship is unable to enforce compliance with any rules that they propose for the Ecosystem. Compliance with the Stewardship's proposed rules is completely voluntary and consentual. The Treasury signals consent by upgrading their software and continuing to issue new Lotus, and the Citizenry signals consent by continuing to engage in the Ecosystem.

Mrs. Turtle is our gracious Telegram bot. She helps our Telegram community give Lotus to each other. Join our Telegram group and we will have her give you some Lotus!

The Lotus blockchain is a distributed public ledger. The ledger contains a record of every change made by the Treasury, including every Lotus issued to the Stewardship as funding. By running the lotusd software, anybody can verify every detail of funding received and spent by the Stewardship.

Possibly. The distributed public ledger does not contain a list of real-world identities. Somebody can only audit your economic activity if they know which Lotus address(es) contained within the ledger belong to you.

Think of a Lotus address like a bank account number. Other people can use this number to give you Lotus. The Treasury logs all of the economic activity in the public ledger such that the Ecosystem can account for each Lotus in circulation and verify no counterfeiting has occurred.

As many as you want! The Lotus addresses are generated using cryptographic software such that each new Lotus address you generate is unique.

The Lotus blockchain software is a public good, therefore any party is free to copy the source code to create their own "fork" of the Lotus blockchain with their own rules for establishing Ecosystem consensus. This blockchain fork is analogous to a fork in the path ahead. The Citizenry is free to follow whichever blockchain fork, or path, they think will lead them to more prosperity. Hence, new Stewardships are instituted by peaceful separation of consensus, as opposed to elections.

Yes! The Stewardship is always open to apportion Lotus currency to projects that help people and bring them together. However, the formal process for submitting grant requests has not been defined. Please check the Roadmap page for more information.

There is currently no formal process for inducting new Turtles. Please check the Roadmap page for more information.

Lotus is issued by the Treasury. The Treasury consists of Miners that perform Proof-of-Work (PoW) using powerful computer components that use electricity to issue Lotus. When a Miner expends enough electricity, he "mines a block", and this block is broadcasted to the network. This block contains a transaction called the "coinbase transaction" that issues new Lotus into the economy. 50% of the new Lotus goes to the Miner as a reward for his Work, and the other 50% goes to the Stewardship as funding for the Ecosystem.

More well-known cryptocurrencies like Bitcoin have proven to not be economically viable due to their arbitrary issuance cap and halving schedule that results in severe price volatility. The Lotus solution is to calculate the subsidy of each block based on the amount of electricity used to mine that block. Lotus currency can then be voluntarily destroyed to create deflationary pressure. Over time, these ebbs and flows of the currency supply will stabilize the price volatility by matching the supply to the demand of the economy as closely as possible.

There are some similarities between Lotus and the U.S. Dollar, however there are several key differences that are outlined below.

The term describes a mechanism by which Lotus can be removed permanently from circulation without requiring any compulsory tax policy. Some public goods that enable public social interaction are provided by the Stewardship and require Lotus currency to be destroyed in order to interact. For example, a public ad board requires any Citizen of Lotusia to destroy a desired amount of their Lotus currency in order to post an ad that will be broadcasted across the Ecosystem.