Pyramidion Cryptocurrency LLC
Smart Contract Audit
Smart Contract Audit Certificate
Pyramidion, PYRA, Mars Money, The Advocate Coin:
A Global Index, Non-Security, Non-MSB, Non-Convertible, DApp Barter Token
The capstone or pyramidion is the highest block or mount of a structure. Often when pyramids have doorways, the capstone can lock or wedge the rest of the blocks tightly together and give strength. Pyramidion’s namesake describes the concept of the pricing method and the number of blocks in its construction. It is nicknamed “The Advocate Coin” due to the personality type of the concept's visionary Damon Danner, and the nature of the token itself. Pyramidion is created by a smart contract, powered by secure blockchain technology and has a total supply, but is not pegged to any single fiat currency, technology, asset, real estate, or resource. Pyramidon's Barter Value is derived from the totality of the cryptocurrency market. The concept came to mind in October of 2017 and would not have been viable without the explosion of digital asset creation. Please read the Barter Value methodology section for a detailed explanation. Like a pyramid, it takes many years and a lot of manpower to reach the construction phase of placing the pyramidion.
Pyramidion is not traded on exchanges and has no API (the acronym for Application Programming Interface, which is a software intermediary that allows two applications to talk to each other) available to report pricing to a platform. Pyramidion has made it impossible to report pricing to an exchange, wallet or platform for secondary sales or swaps while allowing customers to choose their wallet. A peer could place Pyramidion Tokens on a DEX (a decentralized exchange, which is peer to peer) but there would be no pricing information or fund available to trade/swap or cash the token. Utilize the Pyramidion APP to calculate a number of tokens to send and wallet values.
Pyramidion shall not buyback its tokens. Pyramidion Cryptocurrency LLC shares no common interest with its purchasers. No ownership is granted in Pyramidion Cryptocurrency LLC with token purchases. No ownership is claimed by Pyramidion Cryptocurrency LLC for goods or services bartered with Pyramidion tokens. There is no dividend paid on the token. Pyramidion offers no goods or services for the token. The funds used for purchasing Pyramidion tokens belong to Pyramidion Cryptocurrency LLC. A peer will have purchased a token with a universally agreed-upon Barter Value. The project is developed and no manager, company or centralized entity directs the development of the Pyramidion Cryptocurrency project. Pyramidion is sufficiently decentralized in its operation, has a clear working product and the value of its token is tied to utility and not the expectation of profit - token barter credit appreciation does not equate to profit.
Pyramidion endorses Trustwallet for holding, sending and receiving Pyramidion tokens. The logo has been attached for Trustwallet. Your security and seed phrases are your responsibility, keep them handwritten and securely stored. Do not screenshot Seed Phrases and save it to your phone or computer. A safety deposit box would be ideal. Use a password and two-factor or two-step authentication if it is available. Pyramidion cannot recover passwords, seed phrases or tokens for your wallet. Transactions are not reversible.
Your platform must accept ERC20 tokens to receive Pyramidion. Do not use an exchange/hosted wallet like Coinbase to accept Pyramidion tokens or your Pyramidion tokens will be lost forever. If you like Coinbase they have a DApp wallet that can accept ERC20 tokens and you can connect and transfer coins directly from your Coinbase account to the Coinbase DApp wallet.
Barter Value Methodology
Pyramidion utilizes Coingecko's API to populate a column in a Microsoft Excel spreadsheet. Almost every available asset traded on the exchanges is inserted into a column with its current price. All "null" values, errors and any assets trading below a penny are removed. A simple average is then calculated. This agreed-upon Barter Value is assigned to the Pyramidion Token as barter credits. The barter credits are equal to $1 for math and tax calculations.
The API utilizes pool-data and covers almost every asset on the exchanges. There is no need for real-time data with Pyramidion as it is not an exchange-traded asset, but still gives an accurate snapshot of the crypto space. The API automatically adds or removes digital assets in the spreadsheet. The Barter Value is auto-updated every five minutes. In the case of an API stoppage or a company breaking the chain in Pyramidion's operation, there will be a freeze on the Barter Value until all operations are fully functional - this has not occurred to date.
Problems / Solutions
Compatibility: Why try to reinvent the wheel? This is why Pyramidion chose Ethereum. Ethereum is not just a cryptocurrency or store of value. It is a software platform. There is a very large development community with the Ethereum platform. Pyramidion can interact with many platforms as an ERC20 standard token.
Ease of use / Accessibility: Pyramidion can be utilized by any ERC20 capable wallet. Add the Pyramidion APP to your favorites in your browser or create a link on your cell phone. The APP is a custom calculator. For bartering a QR code can be scanned in person or sent in any platform's messaging service capable of sending a photo: FB messenger, Whatsapp, Slack, Telegram, Signal, Twitter, Skype, Zoom, Instagram, etc. Of course, a peer can simply send their receive Ethereum public key to receive the Pyramidion Tokens. ENS Domain names are a recent development making it easier to type in a peer's user name instead of a long key. Example: Pyramidion.eth
Decentralization, speedy transactions, and logging of transactions are native to Pyramidion because it is an ERC20 token. All transactions are publicly verified on Etherscan. All aspects of Pyramidion's operation are outside of itself, including the software platforms used to build the project. Pyramidion does not operate its network, wallet, or an exchange and has no custom coding. There is no intermediary needed to utilize the token.
Whale Proof: An entity cannot sell off Pyramidion en masse and lower the Barter Value, nor buy up the supply of tokens and raise the Barter Value. Price manipulation is virtually eliminated, unless a person, group or country decided to buy up the entire cryptocurrency market and hold them to raise the Barter Value.
Wash trading: A third-party research group has reported top cryptocurrencies are wash traded between some exchanges or bots, this boosts trading volume artificially, it is not illegal, but investors should be aware of this activity and not mistake it for use of an asset on a network. Pyramidion cannot be wash traded.
Security and immutability: There are no exchanges to hack. Pyramidion has no app to download or hack. No wallet keys or personal information is utilized in the Pyramidion APP. All aspects of Pyramidion are easily understood and transparent. No single entity can dilute the barter value of Pyramidion. There will never be a hostile hard fork or highjacking of the Ethereum Network. There will be no governing body and operational rules are set in stone. Your security and tokens are literally in your hand.
Technical Debt: Why use Wix, Microsoft SharePoint, Excel, and other off-the-shelf systems to build the project? There is a term, "Technical Debt" which applies to companies that must upgrade their systems or hire vendors to keep up with development. Pyramidion utilizes WIX because they are a large company that can handle any amount of traffic and hosting is reasonable. Wix websites are WYSIWYG and easily managed by novice website builders. Microsoft Excel is used to compute the Barter Value because of its reliability and there is no need for specialized code or upgrades. Anyone can verify Pyramidon's price with the API link used to populate the spreadsheet and applying the vetting rules. The Barter Credit sheet is hosted on Microsoft SharePoint. All of these methods are part of Pyramidon's set of core values for a reliable, secure and decentralized product.
FOMO: The agreed-upon barter credit of the PYRA token is known before purchasing the token. There are 100 Billion tokens in the first release at One USD ($1). Pyramidion does not anticipate the need for the second release at $2. You are not missing out. No Fear. PYRA is for USE.
Transparency, Integrity, Security, Legality
A decentralized and lean operation with the most efficient, secure, autonomous and cost-effective procedures implemented.
There will never be an IPO. Pyramidion will never be traded /swapped / or cashed out at exchanges.
Know Your Customer / Anti Money Laundering
KYC checks will be held in your account with the token control dashboard. After a customer has possession of Pyramidion tokens there is no further relationship with Pyramidion Cryptocurrency LLC. Pyramidion Cryptocurrency is under the BSA for token sales and any transaction of $1000 or more with cryptocurrency is under obligation to report the customer information to FinCEN.
Privacy: Pyramidion's customer database is not for sale. If Pyramidion is required to share customer records by a subpoena or regulations, we will comply.
One trillion tokens assigned a Barter Value. The simple average of the crypto space (with vetting rules) in USD assigned to the ERC20 token "Pyramidion" as barter credits. It is the universally agreed upon barter credit amount for barter exchange tax calculation.
The asset list at the top of the page is the list of assets utilized to calculate Pyramidion's Barter Value, feel free to research them. It is auto-updated with assets as they are created and listed or delisted.
No further tokens will be created and no tokens will be burned. The token supply has been minted and awaits distribution from Pyramidion's Wallet.
The Transmitor holds all Pyramidion Tokens. No other entity holds PYRA tokens until sold. 100% of tokens are owned by users after purchase. (If an entity is entitled to an amount of PYRA in the future for any reason, I will update it here - Damon)
Tokens will be released in 100 Billion token increments in ascending pricing: The first 100 Billion at $1.00 The second 100 Billion at $2.00 The third 100 Billion at $3.00, and so on until one trillion tokens have been distributed. The .01% Smart Contract Interaction Fee in Pyramidion token is not used to calculate the release. The high supply of tokens is "just in case" and only released as needed. Pyramidion Cryptocurrency does not expect to reach the second release.
All forms of payment will be listed in the token control dashboard. 20% bonus for your first 10 personal purchases.
The agreed-upon Barter Value or the number of barter credits of the Pyramidion token is known before purchase.
Pyramidion's Barter Value is not derived from company performance or revenue flow. Pyramidion is not on a supply and demand algorithm in and of itself.
Some projects utilize an index fund (ETF) for an index of cryptocurrencies or trade index tokens themselves on a maker/taker basis at exchanges. Pyramidion utilizes all assets reported by Coingecko to calculate a simple average. This agreed-upon Barter Value or the number of barter credits is assigned to the Pyramidion Token. Barter credits are equal to $1 for math calculations and IRS tax purposes.
Fees: Determine your favorite wallet's fees for sending an Ethereum token. The sender of the Pyramidion token supplies the gas. The receiver supplies a .01% Smart Contract Interaction Fee, which is calculated by the number of tokens sent multiplied by .0001 The Smart Contract Interaction Fee is in Pyramidion token and migrates back to Pyramidion's wallet. The Smart Contract Interaction Fee is reflected in the amount of Pyramidion received. The smart contract interaction fee is applied to every transaction from any platform. If you transfer tokens to a different wallet, the Smart Contract Interaction Fee still applies. This fee is to deter spamming the network.
Taxes: See Line 21of the IRS Tax Form 1040A. Pyramidion is responsible for sales tax on token purchases. Currently, Pyramidion Cryptocurrency LLC is a tax pass-through and will be taxed as personal income for Damon Danner for token sales. Both parties in trading goods or services with the token will be responsible for reporting the fair market value of goods or services as income on their tax returns. Use the Pyramidion App to email your receipts for record-keeping.
How is the Barter Value of the token valid without cashing at an exchange, converting to other virtual currencies or fiat? Pyramidion is a non-security, non-MSB, non-convertible DApp barter token. The current Barter Value is made valid between peers through equity from the goods or services in the barter exchange and taxation by the IRS as income. It is Pyramidion's OPINION that this taxation makes the receiver of Pyramidion tokens liquid on receipt (when a token is received for goods/services), however, IRS tax law does not take this into account. The second use as a payment method could be argued because of double taxation. IRS tax law states that non-exchange-traded digital assets are taxed as income for the fair market value of goods and services at the time of the barter exchange. This is a new technology and tax law will continue to be refined for digital assets.
Donations: Pyramidion Cryptocurrency LLC assigns 5 Billion tokens for humanitarian purposes which will be counted towards the second release pricing: $2 The United States Government could authorize or purchase an amount to donate for a country to utilize, IE: Set aside an amount of money to back the donation, the Pyramidion tokens eventually get used up with use and return to Pyramidion's wallet.
Until a Pyramidion Token is utilized in a barter transaction between peers, a token transfer ( donation ) has taken place, but no value is being transferred or moved on the blockchain, and no taxable event has occurred.
Supported Use Case
Peer to Peer informal barter: The IRS considers tokens property. Any transaction with Pyramidion is considered a barter exchange. Both parties must report the fair market value of goods or services in the barter exchange as income on their tax returns. The Pyramidion APP supplies all necessary functions to email a detailed barter transaction receipt. Choose your favorite wallet to send/receive PYRA.
Alternate Use Cases (Pyramidion does NOT provide services for these use cases)
Business Barter: For a business use case, please consult your tax preparer or accountant. Any unused barter credits may be counted as a capital gain (this is an example from brokered business barter exchanges with barter credits on their account and may not apply for casual business use). You must file a 1099B and Pyramidion does not provide this service.
International Barter Trade: Countries could barter goods without an intermediary or shipments of physical goods and still have an account or credit for barter exchange. All International laws apply, this goes without saying. Pyramidion moves on a public blockchain.
Corporate pre-built non-custodial utility: Easily move assets within an organization.
Donations: Donate PYRA to a good cause, no tax burden on the receiver as a gift.
Government use: The United States Government could authorize or purchase PYRA to donate to a cause. The government could asset back an amount of PYRA tokens for temporary economic relief. The Pyramidion would eventually get used up with use and returns to Pyramidion's wallet over time. The government can purchase tokens and utilize them as they see fit.
Video Game utility with real-world use. In-game prices could reflect the real world. Utilize your own point system and payout in PYRA tokens.
Rewards / Incentives: Purchase an amount of PYRA tokens and hand them out like merits. Have a prize for the token holders.
Asset-Backed digital asset: This may require you to register your tokens with the SEC and other legal implications.
Safely move asset-backed PYRA tokens without fear of losing actual assets. Keep your accounts safe and simply purchase more PYRA if tokens are lost - like a sacrificial token.
1: Pyramidion - (singular) is the uppermost block of a structure and the name of the token.
2: Pyramidia - (plural) "I have 10 pyramidia."
3: Block - a decimal unit of Pyramidion, as a "Satoshi" is to Bitcoin.
4: Quarry (mine) blocks through your referral link.
5: Pyramaniac - A supporter or holder of Pyramidion Cryptocurrency
6: DAmbassador - Decentralized Ambassador, A non-contract voluntary ambassadorship over a territory.
7: API - the acronym for Application Programming Interface, which is a software intermediary that allows two applications to talk to each other.
This whitepaper shall be considered Pyramidion Cryptocurrency LLC's operating agreement.
Pyramidion hired Blockchain Consilium to code and perform an international standards audit on the Pyramidion smart contract. It is required of assets that are to be listed on exchanges. It was not necessary for the project, but customers should be able to read the contract audit and know it operates as stated in this whitepaper. It has no High, Medium, or Low vulnerabilities and was well worth the capital expended for a rock-solid, immutable and trustworthy smart contract.