Buy a random digital celebrity token

Macabris is the first ever crypto Tontine NFT: group annuity with a mortality lottery. Owner of a token receives increasing monthly payout as long as the underlying celebrity is alive.

A tontine is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th centuries. Tontine enables subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays an agreed sum into the fund and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the last member, the scheme is wound up.

Macabris is build on Ethereum ERC-721 Non-Fungible Token (NFT) standard. There are 7250 unique tokens, each representing a specific celebrity. The number of tokens is fixed: there will never be more or less.

Roughly every month a share of distribution pool will be paid out token holders. The pool is distributed in 600 installments. Every 30 days one installment will be paid out automatically and distributed to alive token holders. Example: let’s say there are 100 ETH in the pool and 100 alive celebrity tokens. Monthly payout is 1/600 * 100 = 0.1667 ETH, distributed per 100 alive tokens. As such, each token automatically receives 0.1667 ETH / 100 = 0.001667 ETH per token. Suppose, a month has passed, and 5 celebrities met their ends. There are total 95 alive tokens. Monthly total payout is the same – 0.1667 ETH, however it is distributed among the living tokens. Each alive token now automatically receives 0.1667 / 95 = 0.00175 ETH. Eventually, as more and more celebrities perish as the times goes by, the last remaining alive token will collect entire pool payout every month.

The pool will be distributed in full in 50 years, a total of 600 periods. At the end of the periods the pool will be fully distributed and payouts will stop.

All tokens that meet two criteria will receive an equal share of monthly payout: 1. a token is sold during ICO processes (i.e. revealed) and 2. underlying celebrity is marked as alive at the time the payout happens.

Once a real-world death is confirmed, a celebrity is marked as dead by the Death Master. As the next payout happens, the token no longer receives the payout (it’s funds are instead proportionately distributed to other tokens that are alive). You may still trade a dead celebrity token.

Funds in the distribution pool come from two sources: initial token sale and trade commission from subsequent token sales. During ICO, 80% of funds from sold tokens will be transferred to the Distribution pool. Wallet-to-wallet token transfer commission fee is 5%, 2.5% of which will go to the Distribution pool. The rest of fees will go to the Developer pool. As times goes by and tokens get traded between wallets, distribution pool will grow accordingly, and therefore – monthly payouts.

There are only 7250 celebrity tokens in Macabris, while there are much more famous human beings on the planet.

It could well happen, that some celebrities are already dead during ICO or will die as ICO proceeds. If you happened to draw a dead celebrity – well bad luck, you will not receive any payments, however you may still sell the token to others.

During ICO tokens are drawn randomly. We use a complicated blockhash function to make sure that there is no way to front-run or for miners to foresee a token and revert the transaction in the process. Macabris uses two transactions: one, to lock funds, and another to reveal a random token.

Macabaris is governed by multisig approach, managed by five wallets. 3 of the five wallets can replace any other governing wallet Majority vote is used to elect a “Death Master” wallet. Once the death of an underlying celebrity is confirmed from the public sources, the Death Master will marks it as dead in the contract. The five governing wallets can only access Developer pool and elected the Death Master. There is no way to access the Distribution Pool, change the rules or economics of smart contracts. Hence, Macabris is certain: same as death and taxes.

Payouts happened exactly approximately every month, 12 times a year. There are a total of 600 payout periods, meaning that in 50 years the Distribution pool will be completely paid out to the token holders.

Distribution Pool is a pool of Ethereum tokens, that is owned by token holders and distributed to alive tokens every 30 days.

Initial price of a random token will be 0.2 Eth per token. As the ICO progresses, developers of Macabris might increase the price of subsequent tokens. The price can only go up: smart contract is programmed in such a way that it is impossible to decrease the price though.

Macabris is fully decentralized with an exception of marking of tokens as dead or alive, which is done by the elected Death Master. There is no way to prevent, interfere, adjust, or backroll the activity of Macabris. As such, Macabris presents a number or risks that participants sale should be aware off. 1.Protocol risk Our code is not audited and is not verified by independent auditors, therefore there is a risk of a fault in the code which will prevent the code from operating properly in the next 50 years. In this events monthly payouts could get stuck or reverted, access to the Distribution Pool compromised, or any other malfunction within the Protocol happen. Use at your own risk. 2. Hacker risk Macabris is build on independent technologies using Solidity language for smart contracts. There is a risk of a hacker discovering vulnerability in one of Macabris protocols, or underlying technology on which Macabris is based (including Ethereum itself). In this case, access to Distribution pool can be compromised and / or protocol can stop operating as intended. Use at your own risk. 3. Failing to mark a dead celebrity on time It could happen, that Death Master fails to notice the death of real-live celebrity on time. In this case the payment portion in the given month will still be distributed to the dead token. While this risks exists and is likely to materialize in the future, the total monetary impact is negligible. In the case of erroneous selection, Death Master can also revert the dead celebrity into alive. (think Raising Dead) 4. Other unforeseen technology changes As Macabris is intended to operated without disruption for the next 50 years, there is a risk of any technology changes, such as Ethereum 2.0, and unforeseen consequences to Macabris Protocol. Use at your own risk.

The protocol will function in the same manner no matter how many tokens are issued. For example if only 100 tokens are released, these 100 tokens will participate in payout distribution on a given payout date.