There are two forms of Appreciation Tokens, which have equal value and can be converted from one to the other and vice versa. They are Appreciation Tokens (@) and “Allodium AT”. The reason there are two is because they exist in different forms.
Appreciation Tokens (@) are generated on the abundance-based blockchain protocol backed by Allodium and they exist on the Allodium Exchange. Every member has their own uniquely named account for their reserve of @ on the Allodium Exchange, similar to a savings bank. There is currently limited access to the Allodium Exchange as far as utility, so it primarily used to verify the transparency and veracity of the blockchain generation protocol. A screenshot of account balances is viewable on the weekly blockchain reports published on Allodium’s Steemit page. Also, if an Affirmed Sovereign Member wants to exchange 1000@ for 1Ø, then their Appreciation Tokens need to be held on the Allodium Exchange. @ are generated daily and there is no upper limit to the overall inflation of tokens over time.
“Allodium AT” are Appreciation Tokens which are hosted on the Waves Blockchain. If a member would like to store their Appreciation Tokens on their own digital wallet, where they can be saved, sent, transacted, or traded on an online decentralized exchange for other forms of currency, then they can convert their @ to Allodium AT. This can be done weekly by contacting the current administrator, Sovereign-Naan, and providing the member’s transfer request and Waves wallet address, which will be completed on the following Tuesday. Appreciation Tokens are withdrawn on the Allodium Exchange, and members receive “Allodium AT” in their Waves Wallet. Once Allodium AT are in a member’s private wallet, the member bears the responsibility for their safekeeping.
Members and non-members alike can buy Allodium AT on the Waves Exchange and transact with them freely using their Waves Wallet. While Allodium AT can be transacted readily, there is a small transaction fee paid in Waves Tokens, which introduces some friction and requires a small balance of Waves Tokens to be maintained. A transaction fee is usually .001 Waves (~$.003 at time of writing) and a trades on the DEX usually costs .003 Waves (~$.01).
There are a total supply of 1 Million Allodium AT which are held in reserve by ØG∆.
Of that supply, 9368 Allodium AT are in circulation as of Jan 23, 2019.
Allodium AT enter circulation from the ØG∆ Reserve as the result of a transfer request. An administrator facilitates the withdrawal of member’s @ from their account on the Allodium Exchange, and sends Allodium AT to the member’s provided Waves Wallet address.
If/when the reserve of Allodium AT in the ØG∆ Reserve is insufficient to satisfy transfer requests from members (seeing as there is a cap to Allodium AT, but not @), then a solution would require a Supermajority (75%) agreement among Ø stakeholders.
Allodium AT can also be exchanged back to @ on the Allodium Exchange via a similar transfer request. Allodium AT are then sent to the ØG∆ Reserve, and @ are credited to the member’s account on the Allodium Exchange. Only members can exchange Allodium AT to @ because only members have an account on the Allodium Exchange to hold their @ in.