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Economics of SCHO 2.0
SCHO 2.0 has a limited supply of 20 million coins that can be mined and brought into circulation. The Scholarship Foundation will participate in the mining process to gradually build its treasury. The treasury will be used to back the Scholarship Stable Coin S C H O U S D which will be worth $1 USD.
Once the stable coin is launched, it will be used to operate the Scholarship Foundation System. Additionally, on top of continuous mining of the SCHO 2.0, the Scholarship Coin Foundation will purchase more SCHO 2.0 and other cryptocurrencies to continuously build its treasury.
The purchase of S C H O 2.0 will occur one time period every month. The Foundation will continue mining and purchasing S C H O 2.0 until its treasury holds 10 million SCHO 2.0. The remaining 10 million SCHO 2.0 will remain in circulation forever.
Finally, in the early stages of the reward system, 40% of the minted SCHOUSD will be used to reward students across the world. The remaining tokens will be kept as a safety net and to cover some of the operational costs.
Once the Foundation’s treasury reaches 10 million SCHO 2.0 the foundation will be able to allocate 60% of its minted SCHOUSD to reward students. The remaining tokens will be kept as a safety net and to cover some of the operational costs.