XYO Network Cryptoeconomics
We use XYO Tokens to incentivize the desired behavior of providing accurate, reliable location heuristics. XYO Tokens can be thought of as “gas” needed to interface with the real world in order to verify the XY-coordinate of a specified object.Rewards for Independence
Location gathering devices are the atomic blocks of the network, and a single device may act as one or more of the four components of the system. However, it would be rare, especially in a large XYO Network, that devices would be more than two of these components. Furthermore, a blockchain ledger that has more independent Proof of Origin will hold higher regard, so there is a cryptoeconomic penalty for a devicRewards for Stationarity Integrity
Sentinels in the XYO Network are assigned a stationarity coefficient for their quantity of movement throughout their lifecycle.The less a Sentinel moves in a period of time, the more its data can be trusted.Archivists keep track and analyze these stationarity coefficients when considering which Sentinels to route queries to.Incentivizing Token Usage
A system in which token holders are encouraged not to use their tokens creates a long-term problem for the underlying economy.It creates an ecosystem with very scarce stores of value and triggers a natural impulse to invent reasons for not using the token, instead of boosting utility and liquidity.The problem most cryptoeconomic incentives have is that the focus is placed too strongly on the token miners (e.g. Sentinels, Bridges, Archivists, Diviners), and not at all on the token users.The XYO Token takes both into account.The XYO Token model incentivizes the miner to not just provide accurate data, but to also know when to not provide data at all.The end user is rewarded to transact more when network liquidity is low, compared to when network liquidity is high.Thus the ecosystem of the XYO Token has the ability to remain well-balanced, fluid and robust.XYO Token Specifications
The public token sale has a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO.
Details regarding our volume and time based pricing structure will be announced soon.
• Smart contract platform: Ethereum
• Contract Type: ERC20
• Token: XYO
• Token Name: XYO Network Utility Token
• Token Address:
0x55296f69f40ea6d20e478533c15a6b08b654e758
• Total issuance: Finite and capped at the amount reached after the Token Main Sale 15
• Hard cap: 48,000,000 USD
• Unsold and Unallocated tokens: Burned after the token sale event. No further XYO tokens will be generated after the Main Sale ends.
So What Is Actually XYO Tokens
Token XYO Network a components incentivized through the awarding of Ethereum-based ERC20 XYO Tokens. When a user submits a query through the XYO Network, they spend XYO Tokens based on the request’s priority and complexity. These tokens are awarded to the Diviner which provides the Best Answer, the Archivists which stored the information used to generate this answer, and the Bridges and Sentinels which provided this data. In this way, XYO Network are components are rewarded for their participation in the Network and incentivized to provide reliable and useful data.
And How It Works
The XYO Network is made up of four primary components:
- Sentinels, which gather data about their location, environment, and other nearby XYO Network devices and store this information on an onboard digital ledger,
- Bridges, which relay information from Sentinels to the public blockchain, where it is stored in perpetuity,
- Archivists, which store and index the information transmitted via Bridges,
- Diviners, which access the information in order to verify location or answer queries.
I'm really love the concept XYO!!, If you want know more about XYO, check them on:
website: https://xyo.network
whitepaper: https://xyo.network/whitepaper
team: https://xyo.network/team
roadmap: https://xyo.network/roadmap
And if you have qouestion about XYO , you can join with our telegram: https://t.me/xyonetwork
Great time to buy bigtime right now since your transactions can win you rewards on kucoin as they are having a trading comp for xyo right now!
Anyone here who have participated on XYO trading competition? if you do the latest news about it is that the rewards have been distributed for more info you could read it on this link. https://news.kucoin.com/en/xyo-campaign-rewards-distributed/