Hey guys,

I'm launching a new token standard, ERC-1919

And I would like to get your feedbacks!

1/ Concept

ERC-1919 is a new token standard that addresses fraud and manipulation in token trading.

It makes presales, VC investment, rug pulls, unfair allocation, and airdrops impossible, by design.

ERC-1919 aims to revolutionize the token trading landscape by ensuring safety and fairness.

2/ How does it work?

ERC-1919 tokens are only tradable via a smart contract.

You can’t buy them on a DEX like Uniswap.

To buy an ERC-1919 token:

Send ETH to the smart contract, and you’ll receive ERC1919 tokens.

To sell an ERC-1919 token:

Send your ERC-1919 tokens to the smart contract, and you’ll get the value back in ETH.

3/ No LP, No Classic Supply

ERC-1919 tokens don’t have any LP or traditional supply.

When tokens are bought:

They are minted by the contract and sent to the user.

When tokens are sold:

They are burned and their value in ETH is sent to the user.

4/ Algorithmic Pricing (Part 1)

The pricing of an ERC-1919 token is based on "levels".

For example:

Level 1: 0.01 ETH
Level 2: 0.02 ETH
Level 3: 0.03 ETH

And so on…

5/ Algorithmic Pricing (Part 2)

Levels move:

Upwards: When tokens are bought (minted).
Downwards: When tokens are sold (redeemed).

As levels increase, the price per token rises.
As levels decrease, the price per token falls.

6/ Algorithmic Pricing (Part 3)

Each level has:
- A specific price point (that goes up as levels increase)
- A fixed supply of tokens (that goes down as levels increase)

There is no limit to the number of levels a token can reach.

7/ Algorithmic Pricing (Part 4)

When a mint exceeds the available tokens at a given level, the level moves up, and excess tokens are minted at the higher level's price.

For example, if Level 1 has 100 tokens at 0.01 ETH each and Level 2 has tokens at 0.011 ETH, buying 150 tokens would result in minting 100 tokens at 0.01 ETH and the remaining 50 at 0.011 ETH. This mechanism can trigger multiple level-ups in a single transaction.

The same applies to redeeming (selling).

8/ ERC-1919 is fair & safe by design

No LP: rug is impossible by design

No Presales, no Team Tokens, no VC Influence: Tokens can't be distributed before launch since they need corresponding ETH in the contract to be redeemed.

9/ AIR

AIR is the first ERC-1919 token.

AIR aims to popularize the concept of ERC-1919, making it accessible for everyone to create fair and transparent tokens.

Link: https://x.com/AIR_ON_BASE

What are you thoughts on ERC-1919? Good/bad idea? Some ideas for improvements?