INDC Whitepaper

Abstract

The INDC (InterGlobe National Product Capped Decentralized CryptoCurrency) token represents a unique approach to stable and scalable cryptocurrency design. Launched by Paromint, its supply is dynamically linked to the economic output of the world’s top five GDP countries. INDC is pegged to 1 INR to simplify financial transactions and ensure price stability within its ecosystem.

The cryptocurrency landscape faces challenges such as volatility, lack of scalability, and speculative behavior. INDC offers a solution by:

• Establishing a total supply cap linked to global economic metrics.
• Ensuring price stability by pegging the token’s value to 1 INR.
• Seamlessly integrating into the Paromint fintech ecosystem, offering features like AI-powered asset analysis and decentralized finance (DeFi) capabilities.
• Allowing users to acquire crypto assets without setting up crypto mining nodes, democratizing access to the power of public blockchains and cryptocurrencies for the common people.

Major Highlights

1. Token Name

INDC (InterGlobe National Product Capped Decentralized CryptoCurrency).

2. Supply Mechanism

The maximum token supply is dynamically determined by taking the average of the consumption component of the Gross National Product (GNP), expressed in US Dollars, for the five largest global economies. This value serves as the upper cap for token minting at any point in time.

Token minting is triggered by user activities within the decentralized application's (dApp) ecosystem, ensuring that token issuance aligns with ecosystem growth and demand. Each token is pegged to 1 INR, simulating an economic baseline where 1 USD equals 1 INR under the most adverse global economic conditions.

This supply mechanism ensures that the total token supply remains significantly lower than potential demand, thereby maintaining the token's intrinsic value. By tying the maximum supply to a critical macroeconomic indicator (consumption expenditure of major economies), this approach reflects a dynamic and responsive monetary policy, reinforcing the token's stability and scarcity.

3. Value Pegging

Pegged to 1 INR to simplify financial calculations and provide transactional stability.

4. Launch Entity

• Launched by Paromint.
• Contract Address On Ethereum: 0x4B958E63D152b06022e8E167b55cb014B8daF074
• Bridge Contract Address on zkSync Era: 0xd701c10a294de82496dc7412f5cd43291b8d3e50

5. Ecosystem Integration

Integrated into the Paromint ecosystem, including AI-based analysis, DeFi trading, and enterprise payment processing.

6. Earning Mechanisms

Users can earn INDC through staking, hedging, and other activities within Paromint’s decentralized applications (DApps).

Tokenomics

• Initial Supply: 100 Billion
• Total Supply: Capped at 5 trillion INR
• Allocation:
  • 25%: Reserved for Engineering and Research.
  • 50%: Distributed within Paromint’s customer and investor ecosystem.
  • 25%: Reserved for liquidity support.

Supply Derivation Algorithm

1. Data Collection

Gather the nominal GDP figures for the five largest global economies: the United States, China, Japan, Germany, and India. Retrieve the percentage of GDP allocated to household consumption expenditure (HFCE) for each of these economies.

2. Calculation

Calculate household consumption for each country by applying the HFCE percentage to its nominal GDP. Compute the average household consumption value across the five economies. Convert the resulting value from USD to INR, assuming an exchange rate of 1 USD = 1 INR.

3. Supply Cap Determination

Using the current data, establish the token supply cap at 5 trillion INR, a value significantly lower than the global HFCE, ensuring the token remains scarce relative to worldwide consumption levels.

4. Annual Review and Adjustment

Recalculate the supply cap annually based on updated GDP and HFCE data. Any excess tokens resulting from the recalculation will be either burned or locked, ensuring the token supply remains aligned with the updated cap.

Use Cases

• Everyday Transactions: Stability makes INDC suitable for payments in retail and e-commerce.
• DeFi Integration: Access lending, borrowing, and trading through Paromint’s DeFi platform.
• Enterprise Payments: Fast, secure, and cost-effective payment processing for businesses.
• Earning Opportunities: Staking, hedging, and rewards within the Paromint ecosystem.

Technical Architecture

• Blockchain: Built on Ethereum, following the ERC20 standard.
• Smart Contracts: Manage supply, peg enforcement, and staking mechanisms.
• Ecosystem Integration: API-driven interaction between Paromint apps and the INDC token.

Conclusion

The INDC token is a stable, scalable cryptocurrency aligned with global economic metrics. It addresses challenges such as volatility and limited utility while seamlessly integrating into the Paromint ecosystem. With its innovative supply cap and pegging mechanisms, INDC is poised to redefine financial transactions for individuals and businesses.