Abacus is a protocol that combines proof of stake and reverse prediction market mechanisms to value NFTs. The protocol rewards users with an explicit profit share in the form of an Ethereum payout or an implicit profit share through the $ABC token reward which represents a proportion of the total protocol profit.

A pricing session is broken down into five steps: create, voting, weighing, calculating the final appraisal, harvest, and claim.

1. Create a pricing session

   A user needs 0.005 ETH worth of ABC, NFT Address, Token ID, initial appraisal value, voting window duration to create a pricing session.

2. Vote in a session

   To vote in a session a user just needs to submit an appraisal for the NFT of interest and a stake amount.

3. Weigh a vote

   Each user's vote is quadratically weighed against the lowest stake in the session.

4. Compute final appraisal value

   A weighted average of the appraisals is computed for the final appraisal.

5. Harvest

   Users that are within above or below 5% of the final appraisal value receive a certain amount of winner points and their principal stake amount. The stake of those who were outside of the “in-the-money” bound have their principal stake amount slashed based on margin of error - 5%. These losses are sent to the sessions loss pool.

6. Claim reward

   Users that earned winner points can claim their proportion of winner points to total winner points earned worth of ETH or exchange earned ETH for ABC.

If you are a strong appraiser, you can very easily 10x your money on each successful pricing session. If you come in as a winner with a minimum stake of 0.001 ETH and the session you’re participating in has 1 ETH harvested you could very easily walk away with $30 to $40. Therefore, on a 0.001 ETH (~$3) you’re earning 1000% ROI.

ABC is the protocol native token, it’s uses include:

1. Creating a pricing session costs 0.005 ETH worth of ABC.

2. Each ABC represents a proportional claim on the Abacus treasury

3. Token ownership represents a user’s say in protocol governance

The only way to earn an Abacus token is by appraising other people’s NFTs in pricing sessions. Any ETH earned in a pricing session can be kept or exchanged for ABC. 

Creating a concrete valuation system for Web3 will solve the price discovery problem that has been plaguing the NFT community and at times causing major illiquidity and value loss. The hope is that Abacus can move the NFT and larger Web3 world past this pricing hurdle and unlock new levels of liquidity and therefore creation in the blockchain world.

We are actively looking for community members to help structure and build out the Abacus community and protocol. The future of Abacus is only limited to the imagination of the user. If you are interested in joining the team, joining the community, or building on top of Abacus we have something for you!** **

Discord: https://discord.gg/SZMGEDHjqN

Twitter: https://twitter.com/abacus_wtf

Careers: https://succinct-omelet-2e2.notion.site/Abacus-Careers-2e806ae9d1bb49b7860d0418a1ca4f80

Abacus is a protocol that combines proof of stake and reverse prediction market mechanisms to value NFTs. The protocol rewards users with an explicit profit share in the form of an Ethereum payout or an implicit profit share through the $ABC token reward which represents a proportion of the total protocol profit.

A pricing session is broken down into five steps: create, voting, weighing, calculating the final appraisal, harvest, and claim.

1. Create a pricing session

   A user needs 0.005 ETH worth of ABC, NFT Address, Token ID, initial appraisal value, voting window duration to create a pricing session.

2. Vote in a session

   To vote in a session a user just needs to submit an appraisal for the NFT of interest and a stake amount.

3. Weigh a vote

   Each user's vote is quadratically weighed against the lowest stake in the session.

4. Compute final appraisal value

   A weighted average of the appraisals is computed for the final appraisal.

5. Harvest

   Users that are within above or below 5% of the final appraisal value receive a certain amount of winner points and their principal stake amount. The stake of those who were outside of the “in-the-money” bound have their principal stake amount slashed based on margin of error - 5%. These losses are sent to the sessions loss pool.

6. Claim reward

   Users that earned winner points can claim their proportion of winner points to total winner points earned worth of ETH or exchange earned ETH for ABC.

If you are a strong appraiser, you can very easily 10x your money on each successful pricing session. If you come in as a winner with a minimum stake of 0.001 ETH and the session you’re participating in has 1 ETH harvested you could very easily walk away with $30 to $40. Therefore, on a 0.001 ETH (~$3) you’re earning 1000% ROI.

ABC is the protocol native token, it’s uses include:

1. Creating a pricing session costs 0.005 ETH worth of ABC.

2. Each ABC represents a proportional claim on the Abacus treasury

3. Token ownership represents a user’s say in protocol governance

The only way to earn an Abacus token is by appraising other people’s NFTs in pricing sessions. Any ETH earned in a pricing session can be kept or exchanged for ABC. 

Creating a concrete valuation system for Web3 will solve the price discovery problem that has been plaguing the NFT community and at times causing major illiquidity and value loss. The hope is that Abacus can move the NFT and larger Web3 world past this pricing hurdle and unlock new levels of liquidity and therefore creation in the blockchain world.

We are actively looking for community members to help structure and build out the Abacus community and protocol. The future of Abacus is only limited to the imagination of the user. If you are interested in joining the team, joining the community, or building on top of Abacus we have something for you!** **

Discord: https://discord.gg/SZMGEDHjqN

Twitter: https://twitter.com/abacus_wtf

Careers: https://succinct-omelet-2e2.notion.site/Abacus-Careers-2e806ae9d1bb49b7860d0418a1ca4f80