When students, researchers, and others interested in science use TeraOpenScience they can gain Digital Object Identifiers (DOIs). Such activities that can award DOIs are posting to the message boards and providing intellectual content.
During your efforts of creating your content you did “work”. Other than a potential DOI award you can gain financial awards. With our blockchain managed “Proof of Science”, ScienceCoins cryptocurrency are awarded to you for your efforts of generating the intellectual content.
Some of the “Proof of Science” work that awards ScienceCoins are:
| Activity - All activities must be publicly appropriate, bona fide, and and in accordance with the Terms of Service (TOS) | ScienceCoins (SCI) |
|---|---|
|
Registration |
350.00 |
|
Complete your profile. You can upload it from ORCID, LinkedIn, etc. permitted. |
400.00 |
|
Getting five new registrants (referral) |
500.00 |
|
Joining a scientific Project group |
100.00 |
|
Provide an FAQ |
300.00 |
|
Actively participating on a manuscript as an author or co-author |
500.00 |
|
Serving as a mentor |
50.00 |
|
Uploading data in community accepted format |
300.00 |
|
Serving as a peer reviewer on a manuscript or preprint |
500.00 |
|
Uploading a manuscript, dissertation, preprint, or other knowledge contained content |
1,500.00 |
|
Preprint or manuscript is published in an open access journal |
200.00 |
|
Donating a working piece of lab equipment. |
500.00 |
|
Donating consumables |
400.00 |
|
Applying for a TeraOpenScience listed grant and posting it on TeraOpenScience |
100.00 |
|
Achieve top three finalists of grant selection by the community |
100.00 |
|
Responding to Forum posts |
5.00 |
|
Participate reviewing a grant proposal and voting |
500.00 |
|
Issuing an RFP with funding greater than $1000.00 USD (Other) |
500.00 |
|
Providing acceptable open technology (IP, copyright, etc.) |
400.00 |
|
Creating a new Forum that gains more than 5 members |
400.00 |
|
Creating a new project that gains more than 3 members |
400.00 |
|
Posting in Forums (collaboration); 10 valid messages |
10.00 |
|
Starting an educational Project and providing peer reviewed content |
500.00 |
|
Nominating a message board posting, content, or intellectual property (IP) for a Digital Object Identifier (DOI) |
200.00 |
|
Your message board posting, content, or intellectual property (IP) was awarded a Digital Object Identifier (DOI) |
500.00 |
Table 1: ScienceCoins Award Program List (subject to change).
Currently, ScienceCoins are managed on the Polygon blockchain mainnet. SCI, which can be thought of as “The Currency of Knowledge”, is the glue that holds the TeraOpenScience community together and fuels the acceleration of open science.
One might think of this ScienceCoins-driven effort as combining the web3 efforts of DeSci (decentralized science), decentralized autonomous organizations (DAO), Scientist of Interest collectible non-fungible tokens (Scientist of Interest collectible NFT), and open science.
Receive ScienceCoins tokens (think “cryptocurrency”) when you:
Launch or join research groups.
Post drafts and papers for peer review in a simplified preprint server; dissertations allowed.
Request or offer free research tools.
Apply for grants. You can even recycle highly reviewed, but unfunded applications.
Encourage your colleagues to join and when they do, you gain ScienceCoins awards.
Discuss policy, funding, research, patents, copyrights, etc.
Several other free features that award ScienceCoins will roll out over the next few months so stay tuned with our newsletter.
SCI serve multiple important functions for the Platform:
- Medium of exchange between scientists and vendors/service providers: With a critical mass of the scientific community trading directly in ScienceCoins, bypassing existing intermediaries and their fees, transaction times and costs are reduced, resulting in more money being directed to conducting research.
- Cross-border funding: ScienceCoins substantially reduces friction and cost of moving research funds to scientists, regardless of their country of residence. Cross-border funding drives scale in the amount of work performed.
- Enables researchers to gain value for collaborating within the Platform and building the TeraOpenScience community. As the members increase the value of TeraOpenScience, the value of ScienceCoins increases. As the value of ScienceCoins increases, so too does the value of TeraOpenScience. All of this is done without the exploitation of members!
- Enables TeraOpenScience to drive engagement with specific platform features and content to achieve a critical mass of users.
- Enables ScienceCoins holders to guide the features and functions of the platform with voting rights bestowed with ScienceCoins tokens (similar to cryptocurrency) ownership.
- Offers ScienceCoins holders a way to make charitable and philanthropic donations press release , provide scholarship funds to students, and even donate funds to economically challenged researchers to conduct research activities.
While some of these functions could be served with blockchain and an existing cryptocurrency, by using the ScienceCoins dedicated to this scientific ecosystem, a critical mass is more quickly realized and mobilized.
See the ScienceCoins white paper linked on this page for more information.
TeraOpenScience uses an Polygon blockchain mainnet-based ERC-20 smart contract for its ScienceCoins. As is normal for ERC-20 tokens, ScienceCoins will be stored on the Polygon blockchain mainnet using a smart contract and the “wallet” is simply an access point to the Polygon blockchain mainnet.
The wallet required for managing ScienceCoins is any standard Polygon blockchain wallet that supports ERC-20 tokens, and since ScienceCoins will be publicly tradable, any ERC-20 compatible wallet would be useful for managing ScienceCoins.
TeraOpenScience will provide an integrated open source wallet (MetaMask) for its users to receive, send and otherwise manage ScienceCoins. During registration, each user will gain access to the wallet. TeraOpenScience will encrypt the user’s private key with twelve words. TeraOpenScience will not have access to the user’s private key and therefore to their wallet.
If You Lose the Key to Your Wallet, You Will Lose Access to Your ScienceCoins. PERIOD!
TeraOpenScience does not have access to your wallet. If you lose your key, there is nothing we can do. NOTHING!
We recommend you back-up your key to “cold storage”; something such as a piece of paper that you store in a safe. Another cold storage device such as a Ledger, which you can gain through TeraOpenScience’s equipment exchange, is a cold storage device frequently used for storing cryptocurrency keys. In this case, we also recommend it be stored in a safe place you will not forget.
Again. You and only you are responsible for your wallet key. This is the power of the blockchain. You and only you have control over your funds. We are imploring and begging you to take this seriously.
Lose the key. Lose your ScienceCoins. Period.
TeraOpenScience plans to issue only 500,000,000 ScienceCoins. As the platform grows, both in terms of the number of active users and the number and types of transactions that occur between users, the demand for the ScienceCoins tokens (similar to cryptocurrency) will grow.
The economics of Supply and Demand dictate that growing demand will create deflationary market pressure2. To ensure economic balance during the growth phase, the Company has programmed the smart contract to enable the “burn” of 11.5% of the treasury. A “burn” is the removal of ScienceCoins from the treasury. It is important to note that no more ScienceCoins can be issued other than the initial treasury and no more than 57,500,000 can be burned.
Early registrants are provided ScienceCoins for adopting the Platform. The scientists’ contributions to research and collaboration earn ScienceCoins. Numerous activities of the scientific community can be awarded in ScienceCoins. Scientists will be able to utilize their coins within the ecosystem for the purchase of goods and services otherwise paid for by traditional payment methods or local fiat money. Hence, a true token utility is created within the scientific community and within the ecosystem. This coin combined with high number of scientists doing work should be recognized by ScienceCoins purchasers and should create a liquid market.
This fundamental ability to earn and exchange ScienceCoins for goods and services within the ecosystem, or simply to exchange them for other cryptocurrencies or local fiat currencies, is a huge opportunity for active participants and the purchasers of the ScienceCoins tokens (similar to cryptocurrency).
A healthy ScienceCoins ecosystem is paramount for TeraOpenScience and its members. To help you recognize the value for your efforts through the Proof-of-Science blockchain model, TeraOpenScience has a ScienceCoins Award Program (Table 1).
Some coin-enabled projects have utilized the concept of blindly sending tokens to blockchain addresses with a balance to quickly raise awareness and liquidity. While this “air-drop” concept is often successful in meeting these goals, this scattershot approach is seen as inefficient in that many of the recipient addresses are inactive or their owners are completely unaware, or uninterested in the received tokens and their utility. We believe the ScienceCoins are too valuable to simply conduct a marketing program with them.
The TeraOpenScience Award Program creates liquidity and ScienceCoins awareness, but directly with you. By managing the ScienceCoins awards menu carefully, TeraOpenScience’s community can help you value your efforts through the Proof-of-Science model.
Regular updates to the Token Award menu by the community will adjust the value of awards to reflect changes in the market price of ScienceCoins or the Proof-of-Science calculations.
As you collect ScienceCoins, we hope you will encourage students, colleagues, and those who care about science to freely use TeraOpenScience. The more people who use TeraOpenScience, the more valuable the ScienceCoins become, and that value comes directly back to you for using TeraOpenScience!
If collecting ScienceCoins is not of interest to you, please consider donating them to charities, foundations, and not-for-profits through our partner, American Impact Capital Foundation. But you are not limited to donating them. You can chose to issue grants for others or just simply give them away.
Please note: The ScienceCoins Award Program can be changed at any time through collaboration between TeraOpenScience and the community, particularly the addition or subtraction of events/actions as well as award amounts.
To improve upon this in a more focused manner, the TeraOpenScience platform’s Awards Program creates liquidity and ScienceCoins awareness, but directly with our audience: the scientific community. And, by managing the ScienceCoins awards menu carefully, TeraOpenScience can help the research community users value events. Regular updates to the Token Award List also allow TeraOpenScience and the community to adjust the value of awards to reflect changes in the market price of ScienceCoins.
The ScienceCoins Award Program will also help promote the network effect. As scientists collect ScienceCoins, they will care to promote the use of the TeraOpenScience platform and the purchase of ScienceCoins. For those researchers who collecting ScienceCoins is not of interest, they can donate them to charities, foundations, not-for-profits, and even issue grants.
Polygon-based (ERC-20 protocol) ScienceCoins are also referred to as “coins”, which are also known as “tokens”. And both “tokens” and “coins” are frequently interchangeable with “cryptocurrency”. To add yet more confusion, “tokens” are subdivided into “utility tokens” and “security tokens”. ScienceCoins are “utility tokens” as they are not sold to investors as are “security tokens”. https://en.wikipedia.org/wiki/Supply_and_demand , accessed October 4th 2021.
The ScienceCoins Award Program list can be changed at any time through collaboration between TeraOpenScience and the community, particularly the addition or subtraction of events/actions as well as award amounts.
Summary of TeraOpenScience's Impact
- A (Win/Win/Win) x2 Model. All Contributors Can Earn ScienceCoins
Global Collaboration
Connecting students with industry professionals. Bridging the gap between academic knowledge and practical expertise.
Talent Development
Connects Technical and business leaders with global graduate talent to enhance practical skills and career opportunities
Innovative Solutions
Multidisciplinary teams combine diverse expertise to create innovative solutions
Commercialization Opportunities
Connecting students with industry professionals. Bridging the gap between academic knowledge and practical expertise.
Performance Metrics
Track growth in student and professional engagement as well number of projects started and closed
Exit Strategy
The initiative aims for a valuation of $50 million in Year 4 based on projected EBITDA