BitPonies ownership will be tracked via a smart contract on the Ethereum blockchain. BitPonies will be distributed automatically, via smart contract, at the rate of one every 15 minutes (672 per week) for one year.
Each pony will have a distinct visual appearance (“phenotype”) determined by its immutable genes (“genotype”) stored in the smart contract. Because ponies are tokens on a blockchain, they can be bought, sold, or transferred digitally, with strong guarantees of ownership.
Additionally, any two BitPonies can breed together to produce an offspring, which is a genetic combination of the two parents. In each pairing, one BitPony will act as the sire and will have a short recovery period (which increases each time they sire) before being able to engage in another pairing. The other BitPony will incubate the new pony, during which it can’t engage in other breeding. After this gestation period, the BitPony will be born and its genotype and phenotype revealed. This new BitPony will be automatically assigned to the owner of the dame pony at the time of birth. Both the mother and the new BitPony will being available for further breeding immediately after birth.
The Core BitPonies smart contract will track the genotype and ownership of all BitPonies. Because of the difficulty of amending or replacing smart contracts, we will endeavour to split as much functionality out from the Core Contract as possible into “library” contracts.
All functionality for breeding, buying, selling, and transferring ponies will be possible for any user by interacting directly with the smart contracts on the blockchain. Any auctions or sales conducted through our auction contract will include a 3.5% commission (no minimum) taken from the seller’s portion.