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Circles is a decentralized protocol designed to create and distribute fair and social money through personal currencies. At the core of the Circles project lies a simple yet powerful principle:
"Every person receives one Circle every hour, unconditionally."
Circles uses smart contracts, deployed on Gnosis Chain, for creation of personal and group Avatars and their currencies (CRC). Circles as a network works via trust connection. To join Circles 2.0, you would require an invitation from a human/personal avatar. The pathfinder service is deployed to find the optimal path between trust connections to exchange personal and group currencies. Circles smart contracts are based on ERC1155 multi-token standard for both personal avatars and group avatars.
Every person receives 1 CRC every hour, hence 24 CRC per single day. Circles undergo daily demurrage at a rate equivalent to 7% per year. Issuance for past days accounts for this demurrage, ensuring fair distribution over time.
This documentation will guide developers in understanding Avatars and using the Circles SDK.