👓Glossary

TIMT (Trustable Investment Management Toolkit)

TIMT, developed by BGTAI, comprises tools like BGTAI Space, Smart SAFT, Claimer, and Portfolio Board. These tools enable users to participate in Web3 token economies and manage their investments in a secure and efficient environment.

PoI (Proof-of-Influence)

PoI is a mechanism allowing users with verified identities to demonstrate their social influence and connections in a decentralized manner. Originating from BGTAI, PoI supports various Social-Fi applications by enabling individuals to validate their influence within Web3’s Soul Profile (WSP).

WSP (Web3’s Soul Profile)

WSP serves as a dynamic, programmable identity for individuals in the Decentralized Society (DeSoc). It functions as a comprehensive resume, digital passport, and unified identity, offering Open APIs that allow Web3 applications to access real-time profile data with user authorization. This facilitates monetization opportunities within the Web3 economic framework.

SoulScan

SoulScan is an open platform for data aggregation, providing extensive query and indexing services to accommodate the vast data needs of Web3 with scalable dimensions.

DeSoc (Decentralized Society)

Coined in a pivotal paper co-authored by Glen Weyl, Puja Ahluwalia Ohlhaver, and Vitalik Buterin on May 10, 2022, DeSoc emphasizes the importance of encoding social trust relationships over purely transactional interactions in Web3. This concept supports critical economic activities like uncollateralized lending and personal branding, which rely on enduring, non-transferable relationships.

SBT (Soulbound Tokens)

Introduced by Vitalik Buterin, SBTs are non-transferable tokens that serve as credentials and affiliations within DeSoc. These tokens are linked to Souls, specific addresses that verify an individual’s affiliations and credentials, essential for establishing a trust-based ecosystem in DeSoc.

Space

In BGTAI, a Space functions as a Web3 DAO Hub where users can manage Smart SAFTs, portfolios, token vestings, and orchestrate IDO/Private Sale deals. Spaces are designed to facilitate the launch of various decentralized applications like Smart SAFT and Claimer, enhancing community interaction and decentralized governance. Data within BGTAI Space is stored on-chain, forming the foundation of the Credit Data Network and ensuring transparency and reliability.

Verified Space

In BGTAI, a Verified Space signifies that both the Space and its owner have been authenticated by BGTAI's operational team. Here are the benefits and privileges associated with a Verified Space:

• Verified Badge: Spaces receive a green "Verified" badge next to their name.

• Dedicated URL: Each Verified Space is granted a unique, concise URL that reflects the Space name.

• Editable Profile: Owners of Verified Spaces can modify their Space Profile, including the name, logo, description, and links to social media like website, Twitter, Discord, and Telegram.

• Public Searchability: Verified Spaces are listed on the Space List page and are searchable by the public.

• Visibility on Explore Page: Any SAFTs created within these spaces are prominently listed on the Explore page, where they can be filtered and searched by users.

Space Owner

A Space Owner is the individual who establishes a Space within BGTAI. They possess the authority to:

• Launch applications such as Smart SAFT and Claimer.

• Request verification for their Space.

• Edit their Space Profile on the blockchain once the Space is verified.

• A Space Owner is generally the proposer in the Smart SAFT/Claimer applications, and only one Space per wallet address per chain is permitted.

Space Profile

The information within a Space Profile, including the Space Name, logo, description, and social media links, is stored on-chain. This serves as the foundation of the BGTAI SocialFi ecosystem. Post-verification, Space Owners can edit their profiles anytime without limits.

Dashboard

The BGTAI Dashboard provides a user-friendly interface for users to engage with the Web3 space effectively. It acts as a central hub where users can manage Spaces, Smart SAFTs, Claimers, NFTs, and other dApps without needing to code.

Smart SAFT

Smart SAFT at BGTAI simplifies the creation of on-chain proposals for deals between token buyers and sellers:

• Functionality: It enhances the traditional Simple Agreement for Future Tokens (SAFT) by incorporating smart contracts to ensure security and protect investors in Web3's primary market.

• Types Available: Smart SAFTs come in Whitelist, Public, and Hidden types, each offering different levels of visibility and access.

SAFT Deal Page

Once a Smart SAFT is launched by a Space Owner, a SAFT deal page is generated:

• Content: This page displays all crucial deal terms, including project information, token details, and fundraising specifics.

• Participation: All involved parties, including token buyers, sellers, and the proposer, engage with the deal through this page.

BGTAI White Paper: Types of Smart SAFT and Commission Structure

Smart SAFT Types at BGTAI

Whitelist Type SAFT When a Space Owner initiates a Smart SAFT and selects the "Whitelist Type," a Whitelist Type SAFT is established. This setup restricts participation to specifically whitelisted addresses, which can include one or more investors, based on the Space Owner's configuration:

• Single Investor: Ideal for individual investors or venture capitals (VCs) looking to fund a project, where two wallet accounts might be used—one for the Space Owner to launch the Smart SAFT and another for the investment itself.

• Multiple Investors: Suitable for scenarios where multiple private investors are involved, and the Smart SAFT is launched by a representative acting as the Space Owner.

Public Type SAFT Choosing the "Public Type" during the Smart SAFT launch allows for an open, first-come-first-served fundraising model. This type is accessible to all users, facilitating broad participation in the fundraising event displayed on the SAFT deal page.

Hidden Type SAFT Selecting "Hidden" under the Whitelist Type creates a SAFT that operates under the same rules as the Whitelist Type but remains invisible on public listings and the Explore page. Access is exclusively granted to relevant parties such as whitelisted buyers, the Token Provider, and the Space Owner, ensuring privacy and exclusivity.

Commission Rate in Smart SAFT

The commission structure within Smart SAFT is transparent and customizable:

• Formula for Calculating Commission: Commission (z) = Commission Rate (x) * Total Final Fundraising Amount (y)

• Commission Claims: The Space Owner, who proposes the deal, is entitled to claim the computed commission after the Token Provider has transferred the necessary tokens. Entering "0" as the commission rate during SAFT setup indicates that the proposer opts not to receive any commission from the deal.

• Token Provider's Claim: Post-commission deduction, the Token Provider—typically the project party—is eligible to claim the remainder of the funds raised through the Smart SAFT.

BGTAI White Paper: Token Vesting and Claiming Mechanisms

Token Vesting Schedule

In BGTAI's Smart SAFT framework, the Token Vesting Schedule serves as a textual guideline outlining the rules for the release of project tokens. This schedule is crucial for transparency but does not directly enforce token locks within the smart contract itself.

• Display and Integration: The Token Vesting Schedule is prominently displayed on the SAFT deal page but is superseded by the "Claim Rules" set by the Space Owner. These Claim Rules, once finalized and entered on the SAFT deal page, dictate the actual token distribution enforced by the smart contract.

Claim Rules

The Claim Rules are critical to the SAFT's functionality:

• Finalization and Enforcement: Before the Token Provider transfers the tokens, the Space Owner must finalize the Claim Rules. These rules replace the Token Vesting Schedule on the SAFT deal page and are enforced by the smart contract to lock and distribute the tokens accordingly.

Claimer dApp

BGTAI's Claimer is a decentralized application (dApp) that integrates the Dynamic Penalty Function (DPF) to manage token distributions securely and equitably:

• Functionality: The Claimer allows tokens to be locked in a non-custodial, time-released vault. Whitelisted users can claim their tokens as per the schedules set in the Claim Rules.

• User-Friendly Setup: With just a few clicks, the Claimer facilitates a transparent and fair token claiming process, minimizing disputes and enhancing user satisfaction.

Dynamic Penalty Function (DPF)

The DPF is a proprietary mechanism developed by BGTAI to ensure the integrity of token vesting adjustments:

• Operational Mechanism: The DPF imposes fines for adjustments made to the Token Vesting Schedule after initial setup. It calculates penalties using the formula:

z=k⋅∑Ceil(Abs(x−y))z = k \cdot \sum \text{Ceil}(\text{Abs}(x-y))z=k⋅∑Ceil(Abs(x−y))

where:

• Σ\SigmaΣ (sigma) denotes the sum of terms.

• Ceil() rounds up to the nearest integer.

• Abs() returns the absolute value.

• zzz is the total penalty payable for adjustments.

• kkk is the penalty rate per hour.

• xxx and yyy represent the adjusted and initial claim times, respectively, measured in hours.

NFT Receipt

The NFT Receipt at BGTAI is a pioneering feature in the Web3 space:

• Purpose and Utility: It acts as a proof of purchase for token transactions via Smart SAFT, recording essential deal information.

• Benefits and Conversion: The NFT Receipt offers numerous advantages such as eligibility for token presales, airdrops, and exclusive farming opportunities. It can also be converted into a Non-Tradable Token (NTT) within the Credit Data Network of the Decentralized Society (DeSoc), enhancing its utility beyond a mere transaction record.

Token Provider Role

Within the BGTAI ecosystem, the Token Provider is typically the project party or token seller involved in a Smart SAFT arrangement.

• Role in Smart SAFT: After the Token Provider transfers the requisite project tokens to the Smart SAFT Contract, they are entitled to claim the net balance of the total funds raised, post any commissions deducted for the Space Owner.

• Role in Claimer: In the Claimer setup, the Token Provider often initiates the dApp, setting up the Token Vesting Schedules and specifying the whitelisted users eligible to claim the tokens. To simplify terminology and avoid confusion, within the context of the Claimer, the term "Token Provider" is replaced with "Space Owner" who acts as the proposer.

End User Definition

An End User refers to any individual who ultimately uses or is intended to ultimately use a product. In the context of BGTAI:

• Variability of Roles: The specific role of an end user varies across different functionalities within the BGTAI platform.

  • In Smart SAFT:

    • Space Owners act as proposers.

    • Token Providers undertake the role of token sellers.

    • Investors function as token buyers.

  • In the Claimer dApp:

    • Space Owners assume the role of proposers.

    • Whitelisted Users are designated individuals permitted to claim tokens as per the established Token Vesting Schedule.

• Investment Restrictions: It is crucial to note that in Smart SAFT scenarios, Space Owners or Token Providers are prohibited from investing in their own projects through the SAFT deal pages they create. This rule ensures fairness and prevents conflicts of interest within the platform.