KYBER NETWORK WHITEPAPER
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Project does not accept any liability for such recognition and/or any legal and other consequences of such recognition for potential owners of KYBITS tokens, nor provide any opinions or advice regarding the acquisition , sale or other operations with KYBITS tokens , and the fact of the provision of this White paper doesn't form the basis or should not be relied upon in matters related to the conclusion of contracts or acceptance investment decisions.
Regulatory Considerations
This white paper on the KYBERBITS Network and KYBITS token is for informational purposes and may not be comprehensive. Laws and regulations regarding blockchain technologies and tokens can vary greatly by jurisdiction. Potential participants should seek legal advice in their respective regions.
KYBERBITS LLC is committed to operating in full compliance with all applicable laws and regulations, striving to secure any necessary licences and approvals. However, it cannot be guaranteed, nor does anyone provide representations, warranties, or assurances, that such licences or approvals will be obtained within a specific timeframe or at all. Additionally, as laws and regulations are subject to change, KYBERBITS Labs LLC cannot guarantee, represent, or warrant that it will be able to obtain any necessary licences or approvals that may be required in the future. As a result, KYBERBITS Labs LLC may need to adjust the Ecosystem Support initiatives and other activities outlined in this white paper, which could mean that certain services may not be available in all or specific jurisdictions, or may not be available at all.
No financial or investment advice
This document is neither an offer to sell nor a solicitation to buy any tokens. It is not intended as financial, legal, or investment advice. Readers should consult professional advisors before making any investment decisions related to the KYBERBITS Network.
Statements in this white paper about future expectations or predictions are subject to risks and uncertainties and may differ materially from actual future events or results.
Information in this white paper is provided "as is" without any warranty. While believed to be accurate, it may contain errors and is subject to change without notice.
Third Party Data
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Reader Acknowledgment
By accessing this white paper, readers acknowledge understanding and accepting these disclaimers and agree that any involvement with the KYBERBITS Network is at their own risk.
Purchasing KYBERBITS -supported tokens or interacting with KYBERBITS -supported applications or protocols carries significant risks and may result in the loss of a substantial or entire amount of the money involved. Before purchasing KYBERBITS -supported tokens or engaging with KYBERBITS -supported applications or protocols, you should carefully evaluate and consider the risks, including those detailed in any accompanying documentation. Tokens should not be purchased for speculative or investment purposes. Purchasers should only acquire KYBERBITS -supported tokens if they fully understand the nature of these tokens and accept the inherent risks associated with them, their applications and protocols, and the KYBERBITS network itself.
Caution Regarding Forward-Looking Statements
This white paper contains forward-looking statements about our business, based on the beliefs of KYBERBITS Labs LLC and certain assumptions and information available to us. We do not make any statements regarding the conduct or operations of third parties whose actions (including commercial activities) may impact the KYBERBITS network. Forward-looking statements are inherently subject to significant risks and uncertainties. They may involve estimates and assumptions and are influenced by factors beyond our control and prediction. Consequently, these factors could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Any forward- looking statement is valid only as of the date it is made, and we have no obligation to update any forward-looking statements to reflect events or circumstances occurring after that date or to account for unanticipated events
Table of Contents:
1. Abstract
2 . Executive Summary
3. Introduction
3.1 The Need for a Webs aggregated chain
4. KyberBits Network Architecture: Overcoming the Toughest Challenges in the Blockchain Landscape
4.1 Empowering Scalability, Security, and Accessibility
4.2 KyberBits CODE TOOL IDE
4.3 Al-Driven Development
4.4 Quantum-Resistant Addressing
4.5 Gasless Transactions
4.6 Decentralized VPN
5. KyberBits Wallet
5.1 Debit Card Integration and Mobile Payment Compatibility
5.2 Virtual Card Functionality
5.3 Smooth Conversion Mechanism: Bridging Crypto and Fiat Transactions
6. Cross-Border Settlements
6.1 KyberBits Solution to Facilitate Near-Instant Cross-Border Payments
6.2 Benefits for Banks, Financial Institutions, and their Clients
7. Empowering Financial Institutions: Unlock Growth on the KyberBits Network
7.1 The KyberBits marketplace harnesses the transformative power of tokenization.
7.2 Smart Contract-Controlled Trading
7.3 Benefits for Banks and Financial Institutions
8. Technology Stack
8.1 Service Layer
8.2 Application Layer
8.3 Consensus Mechanism
8.4 Node Architecture
8.5 EVM Compatibility
8.6 Security Measures
8.6.1 QuantumResistance
8.6.2 General Security Measures
9. Experimental Results and Analysis
9.1 Credit Incentive Mechanism
9.2 Accounting Node Selection
10. Market Size and Opportunity
10.1 KyberBits Strategic Advantage in a Burgeoning Blockchain Landscape
10.2 KyberBits Competitive Edge
10.3 Benefits
11. KyberBits USD (KYBUSD) Token
11.1 Minting and Burning Mechanism
11.2 Stability for Dividend Pay outs
12. KYBITS Token
12.1 Tokenomics of KYBITS Token
12.2 Listing Price and Market Strategy for $KYBITS Token
13. Fee Structure
14. Roadmap
15. Conclusion
1. Abstract
This white paper introduces Quantum Resist Chain, a ground breaking blockchain platform that combines accessibility with robust security. Our platform integrates KyberBits as Development Environment (IDE), enabling users to develop and deploy blockchain applications with minimal coding expertise. Additionally, we leverage Al-driven components to streamline development processes. To address the imminent threat of quantum computing ,the platform employs a post-quantum
cryptography (PQC) based address scheme, ensuring the long-term security of user identities and transactions.
QuantumResistChain
KyberBits Development Environment (IDE)
Artificial Intelligence (Al)
2. Executive Summary
The KyberBits Network represents a transformative shift in the blockchain industry, poised to establish a self-contained, high-efficiency ecosystem. Built upon a proprietary Layer 1 blockchain solution , KyberBits Network redefines scalability, throughput, and interoperability within its EVM-based network. Key to KyberBits Network's success is its commitment to decentralisation and user-centric design.
Through an advanced consensus mechanism like Delegated Proof of Stake (DPOS) and powerful security protocols, the KyberBits Network ensures a level playing field for all participants, promoting a community-driven environment where every voice is heard and valued .
Delegated Proof of Stake (DPOS)
The Kyberbits Network aims to empower its users with unparalleled transaction speed, promoting rapid growth and easy collaboration. By removing traditional barriers and constraints, creating a dynamic ecosystem where transparency, trust, and innovation merge to redefine the future of transactions. Furthermore ,the Network's smart contracts serve as a strong hold of the ecosystem ,offering immutable, transparent, and efficient execution of agreements. With benefits such as fraud reduction, cost efficiency, and fault tolerance, the smart contracts empower users with confidence and security in their interactions.
Central to this ecosystem is the native utility token, KYBITS, which serves as the lifeblood of the network, facilitating transactions, powering DeFi applications, and in centivizing network participants. Through the strategic deployment of KYBITS and the integration of cutting-edge blockchain technologies, the Kyberbits Network aims to revolutionize the way individuals and enterprises engage with decentralized finance.
By providing a robust, scalable, and user-friendly platform, KyberBits is poised to drive widespread adoption and unlock new frontiers in the blockchain space.
High throughput
3. Introduction
The KyberBits Network has been established to address the demand for an autonomous and interoperable blockchain infrastructure. Driven by a visionary approach, we aim to create a blockchain ecosystem that is self-sufficient, owing to its decentralized and autonomous nature, and seamlessly integrated with the Ethereum ecosystem, setting a new standard for scalability, security, and user-centric features.
Web3 aggregated chain aims to democratize blockchain technology by offering:
• KyberBits IDE: A user-friendly interface with drag-and-drop functionalities and pre-built components, enabling users to design and develop blockchain applications with minimal coding knowledge.
• Al-Driven Development: Integration of Al tools that assist in code generation, smart contract creation, and application debugging, further simplifying the development process.
• Quantum-ResistantAddressing: A PQC-based address scheme that safeguards user identities and transactions against potential attacks from quantum computers.
• KyberBits Mission: To revolutionize financial interactions by providing a secure, user-friendly, and inclusive blockchain platform that empowers individuals and institutions to seamlessly manage tokenized assets and conduct efficient cross-border payments.
• KyberBits Vision: To become the leading global blockchain solution for accessible financial services, tokenized asset trading, and innovative payment solutions, redefining the future of finance.
3.1. The Need for a Web3 aggregated chain
In the current blockchain ecosystem, most networks operate in isolation, creating barriers to seamless data exchange and cross-chain transactions. This lack of interoperability limits the potential of decentralized applications and hampers widespread adoption of blockchain technology. KyberBits aims to solve this by becoming a Web3-aggregated chain that unifies multiple networks into a cohesive framework, including Bitcoin, Ethereum, Solana and more. By enabling seamless asset transfers, data sharing, and cross-chain functionality, KyberBits will enhance interoperability and collaboration across ecosystems, unlocking the full potential of decentralized technologies for developers, enterprises, and users alike.
Isolated Data Silos
Each blockchain network operates as a self-contained ecosystem, creating data silos that hinder the efficient sharing and utilization of information across different platforms. This fragmentation undermines the inherent value proposition of blockchain technology, which thrives on the seamless exchange of data and assets. It is crucial to address this challenge to unlock the full potential of blockchain-powered applications and foster greater collaboration, transparency and synergy within the industry.
Scalability Constraints
Blockchains face inherent limitations in their ability to offload transactions and data to other compatible networks, leading to congestion and limited potential for scalability. This constraint poses a significant barrier to the wide spread adoption and real-world application of blockchain-based solutions. Developing robust interoperability mechanisms and scalability solutions is essential for ensuring the long-term viability and growth of the blockchain ecosystem.
Interoperability Security Risks
Without the implementation of robust interoperability standards and protocols, blockchains may be vulnerable to various security threats, including double-spending attacks and data manipulation. Ensuring the integrity and security of cross-chain interactions is a critical imperative for the blockchain industry. Establishing comprehensive security frameworks and best practices for interoperability is crucial for building trust and driving widespread adoption of blockchain-powered applications.
Limited Use Case Flexibility
The lack of interoperability constrains developers to building applications within the confines of a single blockchain, limiting the diversity and flexibility of use cases that can be explored. Overcoming this limitation is essential for unlocking the full potential of blockchain technology and enabling the creation of innovative, cross-chain solutions that cater to the diverse needs of enterprises and end-users.
Increased User Complexity
The complexities faced by users, such as managing multiple wallets, navigating disparate user interfaces, and dealing with different protocols and standards, create barriers to widespread adoption. Addressing these user-centric challenges is crucial for driving mainstream acceptance of blockchain-based solutions. Developing intuitive, user-friendly interfaces and seamless cross-chain experiences is essential for enabling greater accessibility and adoption of blockchain technology.
4. KyberBits Network Architecture: Overcoming the Toughest Challenges in the Blockchain Landscape
KyberBits is an independent blockchain designed to be compatible with the Ethereum Virtual Machine (EVM), there by ensuring effortless integration and interaction with the Ethereum mainnet. This compatibility not only establishes a harmonized standard for wallet addresses, mirroring the conventions of leading blockchain networks such as Ethereum, BNB Chain, and Polygon but also enhances the unique attributes and advantages that set KyberBits apart in the evolving digital landscape.
Transactions second in the blocks KyberBits Network Architecture
The technical architecture supporting KyberBits interoperability is crafted with precision and foresight. It is robust and flexible, capable of accommodating the distinct features and functionalities inherent to KyberBits. This well-thought-out framework is engineered to facilitate seamless cross-chain operations, allowing for efficient asset transfers and data exchange across different blockchain networks. By combining compatibility with resilience and adaptability, KyberBits aims to offer a versatile and resilient blockchain platform that meets the diverse needs of developers, enterprises, and users alike.
4.1. Empowering Scalability, Security, and Accessibility
The KyberBits Network's seamless integration with the Ethereum Virtual Machine (EVM) enables the ecosystem to tap into a vast and thriving ecosystem of decentralized applications (DApps), smart contracts, and tokens built on the Ethereum blockchain. This access to a rich array of tools, libraries, and resources empowers KyberBits' developers to leverage the knowledge and innovation within the Ethereum ecosystem, facilitating the development and deployment of cutting-edge blockchain-based applications with greater efficiency and effectiveness.
By achieving seamless interoperability through its integration with the Ethereum Virtual Machine (EVM), the KyberBits Network is poised to deliver a comprehensive suite of transformative capabilities.
Interconnected Ecosystem
The KyberBits Network's seamless interoperability and interaction with the Ethereum ecosystem facilitate cross-chain transactions, asset transfers, and data sharing. This interconnectivity enables the platform to serve as a bridge, connecting diverse blockchain-based applications and services, and fostering a more cohesive and collaborative decentralized landscape.
The KyberBits network leverages Inter-Blockchain Communication Protocol (IBC) to achieve an interconnected system. IBC protocol is a robust and sophisticated framework that facilitates seamless, secure, and reliable interoperability between diverse blockchain networks. This protocol enables authenticated, ordered, and state-aware communication across a dynamic and decentralized blockchain ecosystem.
Architecture of IBC
Enhanced Scalability
By leveraging EVM compatibility, the KyberBits Network can seamlessly integrate Ethereum's established scaling solutions, such as layer-2 protocols and sharding techniques. This integration enhances the platform's transaction throughput and minimizes latency, ensuring that users can enjoy a high-performance, scalable blockchain experience.
Augmented Security
The KyberBits Network benefits from the robust security features inherent to the Ethereum blockchain, such as its well-established consensus algorithms and security protocols. In addition, the network uses Byzantine Fault Tolerant (BFT) State Machine Replication (SMR) for arbitrary deterministic, finite state machines. This enhanced security posture strengthens the resilience of the KyberBits ecosystem, safeguarding it against various attacks and vulnerabilities, and instilling greater trust and confidence in the platform.
Expanded Use Cases
The KyberBits Network's seamless integration with Ethereum's expansive ecosystem of decentralized applications (DApps), smart contracts, and tokens supports a broader range of use cases. This integration empowers KyberBits developers to build innovative solutions that leverage the collective capabilities and resources within the Ethereum community, ultimately delivering greater value and functionality to users.
Advanced Smart Contract Capabilities
At the core of the KyberBits platform lies a comprehensive smart contract environment ,equipped with robust programming language support, cutting-edge development tools, and rigorous security protocols. The developers can harness the potential of this feature to build and deploy decentralized applications (DApps) directly on the KyberBits blockchain, while ensuring EVM compatibility. The EVM compatibility ensures that these DApps can seamlessly integrate with the broader Ethereum ecosystem, unlocking a wealth of opportunities for cross-chain collaboration and interoperability. These contracts are designed to seamlessly facilitate user payments and the corresponding allocation of BITS tokens, with al transactions recorded immutably on the blockchain. The platform supports multiple currencies, dynamically fetching prices from decentralized sources to ensure accurate token distribution. The Initial Coin Offering (ICO) is structured in a phased approach, with comprehensive management capabilities provided through the administrative interface. Additionally, the contracts incorporate advanced access control mechanisms, empowering the owner to assign permissions to sub-administrators as needed.
KyberBits Network will enable both vertical and horizontal scaling of decentralised applications by creating an operating system-like environment. This robust infrastructure provides essential services such as user accounts, authentication, databases, asynchronous communication, and task scheduling across multiple CPU cores. By leveraging these comprehensive tools, the platform can handle thousands of transactions per second, significantly improving scalability compared to traditional blockchain systems.
Additionally, the platform lowers transaction fees, making it more cost-effective and accessible. It also supports the rapid and straightforward deployment of decentralized applications, allowing developers to bring their solutions to market quickly and efficiently. This advanced blockchain architecture fosters innovation, driving greater adoption and expanding the possibilities within the blockchain ecosystem.
4.2. KyberBits IDE
The IDE provides a visual development environment with the following features:
• Drag-and-Drop Components: Pre-built blockchain functionalities such as user authentication, token management, and data storage can be easily integrated into applications.
• Form-Based Configuration: Users can define application logic and smart contract parameters through intuitive forms, eliminating the need for intricate code editing.
• Code Snippet Library: A repository of pre-written code snippets for common blockchain tasks allows users to incorporate complex functionalities without extensive coding.
4.3. Al-Driven Development
The platform leverages Al to expedite development through:
• Smart Contract Generation: Al assists in generating secure and efficient smart contracts based on user-provided specifications.
• Code Completion and Error Detection: Al suggests code completions and identifies potential errors in user-written code, improving development speed and code quality.
• Application Optimization: Al analysis code and recommends optimizations for efficiency and security.
4.4. Quantum-Resistant Addressing
The platform adopts a PQC-based address scheme to ensure the security of user identities and transactions even in the face of advancements in quantum computing. This scheme utilizes cryptographic algorithms resistant to attacks by quantum computers, safeguarding the integrity of the blockchain.
4.5. Gasless Transactions
Gasless Transactions: Enhancing User Experience and Increasing Staker Incentives
The KyberBits Blockchain Network is proud to introduce an innovative feature designed to enhance user experience and incentivize network participation: Gasless Transactions for BITS token transfers. This feature represents a significant step forward in eliminating transaction fees and increasing the utility of our native coin within the KyberBits ecosystem.
Traditional Gas Fees: A Barrier to Adoption
Historically, blockchain users have been burdened by gas fees, the costs associated with executing transactions on the network. These fees can be unpredictable, often spiking during periods of network congestion. This volatility not only increases the cost of using decentralized applications (Dapps) but also restricts access for users, creating abarrier to broader adoption.
Introducing Gasless Transactions for BITS Tokens:
With KyberBits Gasless Transactions, users can now transfer BITS tokens without paying gas fees, provided they are using the KyberBits Wallet. This feature is exclusive to BITS token transfers between users within the KyberBits Wallet ecosystem, ensuring that our native token remains at the forefront of usability and convenience.
Key benefits include:
• Cost Efficiency: Users can transfer BITS tokens with out incurring additional costs ,making transactions more accessible and affordable within the KyberBits ecosystem.
• Enhanced User Experience: By eliminating transaction cost barriers specifically for BITS tokens ,we foster greater engagement and encourage users to participate more actively in the network.
Limitations to Other Tokens
It is important to note that this gasless transaction feature is exclusive to BITS token transfers within the KyberBits Wallet. Transfers involving any other tokens wil still require users to pay the standard gas fees. This ensures that the benefit of gasless transactions is strategically focused on increasing the utility and demand for the BITS token, while maintaining the integrity and operational requirements of the network for other tokens.
Boosting Native Coin Utility and Demand
• This gasless transaction feature for BITS tokens is designed to improve user experience and
enhance the utility and demand for the KyberBits native coin. Here's how:
• Staking Incentives: Users who stake their BITS tokens with in the KyberBits Wallet are rewarded with zero transaction fees for BITS transfers, providing a powerful incentive to hold and stake the coin.
• Increased Adoption: As more users utilize the KyberBits Wallet for BITS transfers ,the overall demand for the BITS token is expected to rise.
4.6. Decentralized VPN in KyberBits: Redefining Internet Privacy and Freedom
As part of its comprehensive Web3 infrastructure, the KyberBits ecosystem will introduce a decentralized VPN (dVPN) service designed to enhance security, privacy, and access to an unrestricted internet. Unlike traditional centralized VPN providers that can log, censor, or restrict user data, the KyberBits dVPN operates on a fully decentralized, peer-to-peer network, ensuring that no single authority controls user traffic or data. This decentralized model leverages blockchain technology to offer unparalleled transparency, privacy, and resistance to censorship.
Key Features of KyberBits dVPN:
Decentralized Architecture: A peer-to-peer network with no central authority, ensuring privacy, censorship resistance, and no single point of failure.
Tokenized Incentives: Users providing bandwidth are rewarded with KYBITS tokens, creating a marketplace for bandwidth sharing while encouraging participation.
Enhanced Security and Privacy: Multi-hop routing and end-to-end encryption protect user identities and data, providing secure, anonymous internet access.
How KyberBits dVPN Strengthens the Ecosystem:
The integration of decentralised VPN (dVPN) into the KyberBits ecosystem enhances the overall value proposition of the blockchain. Not only does it support privacy-centric applications, but it also serves as a fundamental building block for other decentralized services like decentralized finance (DeFi), non- fungible tokens (NFTs), and decentralized storage. By ensuring secure and private connections, KyberBits dVPN safeguards users' activities across the broader ecosystem, promoting the principles of autonomy and decentralization that are central to Web3.
Smart Contract-Based Selection Mechanism:
KyberBits' decentralized VPN (dVPN), a blockchain smart contract serves as an impartial arbiter to manage secure connection requests. When a user initiates a connection, the smart contract evaluates the stakes of all participating VPN node providers. The selection process is governed by an algorithm that prioritizes nodes based on their stake, ensuring a fair and transparent allocation of resources. This mechanism not only maintains network integrity but also incentivizes node providers to maintain a higher stake, thereby enhancing the overall security and reliability of the decentralized VPN.
End-to-End Encryption:
All data passing through the KyberBits dVPN wil be encrypted using strong encryption algorithms such as AES-256 or ChaCha20. This ensures that even if traffic is intercepted, it cannot be read or tampered with by third parties, including the nodes through which the traffic passes.
Multi-Hop Routing:
User traffic is routed through multiple nodes before reaching its destination. This method, similar to Tor's onion routing, obscures the origin and destination of the traffic, ensuring that no single node can trace the entire route of the data. This drastically reduces the likelihood of surveillance or traffic analysis attacks.
Zero-Logging Policy:
The decentralized nature of KyberBits dVPN means that there is no centralized entity to log user data. Individual node operators are prohibited from logging user data, and traffic is encrypted, so even if a malicious node is present, it will not be able to access or store any user data.
Anti-Abuse Mechanisms:
To prevent malicious actors from exploiting the KyberBits dVPN for illegal activities or denial of service attacks, the network will implement reputation-based scoring for nodes. Nodes that consistently deliver quality service are rewarded, while nodes involved in malicious activities are penalized or blacklisted from the network.
Blockchain Integration for Audits:
Transactions between bandwidth providers and users are recorded on the KyberBits blockchain, providing full transparency and traceability of payments without compromising privacy. This integration ensures accountability while protecting user
anonymity.
The KyberBits decentralized VPN (dVPN) is a critical enhancement to the KyberBits ecosystem, bringing together privacy, security, and decentralization to support a wide range of Web3 applications. By leveraging smart contract-based selection mechanisms, robust encryption, multi-hop routing, and a zero-logging policy, the KyberBits dVPN provides a secure and private environment for users. It promotes a decentralized, trust-less network where both privacy-conscious individuals and businesses can operate without fear of surveillance or data breaches.
5. KyberBits Wallet
Crypto wallets serve as the essential interface between users and the blockchain, providing the necessary tools and infrastructure to manage, store, and transact with digital assets. As the adoption of cryptocurrencies continues to gain momentum across the global business landscape, the demand for secure and reliable crypto wallet solutions has experienced a corresponding surge. According to industry estimates, the global crypto wallet market size was valued at USD 8.42 billion in 2022 and is expected to grow to USD 61.87 billion by the year 2030.
The KyberBits Wallet, a pivotal component of the KyberBits Network's comprehensive ecosystem, is poised to redefine the user experience in cryptocurrency management. Designed with a focus on accessibility and convenience ,this innovative solution will be launched across a diverse range of user-friendly platforms, including iOS, Android, and desktop interfaces.
By offering this wide-ranging accessibility, the KyberBits Wallet empowers users to manage their native BITS tokens and other digital assets with unparalleled ease, irrespective of their preferred device or operating system. By providing a seamless and intuitive interface across multiple platforms, the KyberBits Wallet empowers users to take control of their financial futures, unlocking opportunities for investment and financial empowerment.
5.1. Debit Card Integration and Mobile Payment Compatibility
The KyberBits Network is planning to collaborate with major financial networks like Visa and Mastercard for seamless integration with debit cards. This strategic integration will further enhance the KyberBits Wallet's capabilities by ensuring compatibility with popular mobile payment systems, such as the industry-leading Apple Pay and Google Pay.
Through this innovative amalgamation of traditional and modern payment methods, KyberBits Wallet users will enjoy unparalleled flexibility in managing their BITS token holdings. Customers will have the ability to effortlessly link their KyberBits Wallet to these widely accepted mobile payment platforms, empowering them to utilize their digital assets for everyday transactions with ease and convenience.
5.2. Virtual Card Functionality
Complementing its seamless integration with physical debit cards, the KyberBits Wallet has been meticulously designed to offer users an additional layer of convenience and security through its virtual card capabilities. This innovative feature empowers KyberBits Wallet users to generate a virtual card directly within the application, which can then be utilized for a wide range of online purchases and transactions where digital card usage is accepted.
KyberBits aims to empower users with a truly comprehensive and user-centric solution for digital finance management by providing them the ability to create and manage virtual cards within the ecosystem. This feature not only enhances the overall convenience of the user experience but also introduces an additional layer of security, as virtual cards can be easily generated, monitored, and, if necessary, deactivated without compromising the security of the user's primary payment methods.
5.3. Smooth Conversion Mechanism: Bridging Crypto and Fiat Transactions
The KyberBits Wallet's innovative conversion mechanism stands as a testament to the KyberBits Network's commitment to delivering a seamless and user-centric experience in the realm of digital finance. This cutting-edge feature addresses a critical challenge faced by both cryptocurrency users and merchants, ensuring that transactions are executed with unparalleled stability and reliability. When KyberBits Wallet users initiate a transaction using their BITS tokens, the innovative conversion mechanism automatically exchanges the tokens for stablecoins, such as USDT or USDC. This instantaneous conversion process, which occurs at the point of transaction, guarantees that merchants receive the equivalent value in stablecoins, effectively shielding them from the inherent volatility of the cryptocurrency market.
The transaction journey culminates with the conversion of stablecoins to fiat currency, ensuring that service providers receive the exact fiat amount for their goods and services. This streamlined conversion process reflects the KyberBits Network's unwavering dedication to fostering real-world applications of cryptocurrency, bridging the gap between the digital and traditional financial landscapes.
By offering this innovative conversion mechanism, the KyberBits Wallet empowers users to engage in everyday transactions with confidence, knowing that the value of their BITS tokens wil be seamlessly and reliably converted t o ensure the stability and integrity of each transaction.
6 . Cross-Border Settlements
The global cross-border payments market was valued at USD 190.1 trillion in 2023 and is projected to
reach an impressive USD 290.2 trillion by the year 2030. It underscores the pivotal role of cross- border transactions in the dynamic and interconnected global business landscape. However, traditional cross-border payments process is beset with the following inefficiencies:
• High Costs: The involvement of multiple intermediaries ,each levying their own set of fees for currency conversion ,wire transfers, and payment gateway commissions, can result in a substantial financial burden that can erode the bottom line for businesses engaged in international commerce.
•Delayed Transactions: The processing of cross-border payments can often take several days to complete. This extended timeline can create cash flow issues and delays, ultimately undermining the agility and responsiveness that modern businesses require to remain competitive in the global marketplace.
• Lack of transparency: The involvement of numerous intermediaries can obscure the full costs and
status of a transaction , leaving businesses and customers a like frustrated by the opaque nature of the process and the difficulty in tracking the progress of their payments.
• Security Risks: As funds are transferred across different jurisdictions with varying security
protocols, the risk of fraud, hacking, and the potential loss of assets becomes a significant concern for businesses and their customers.
• Regulatory Challenges: The complex web of regulations ,compliance requirements ,and legal issues that must be navigated across different countries can create substantial friction and delays in the cross-border transaction process. Businesses must possess the necessary resources and expertise to effectively manage these regulatory challenges, further adding to the overall complexity and cost of executing international payments.
6.1. KyberBits Solution to Facilitate Near-Instant Cross-Border Payments
The KyberBits Network introduces a ground breaking solution that empowers banks and financial institutions to harness the power of the BITS token for near-instant cross-border payments and settlements. By forging strategic partnerships with the KyberBits Network, these institutions can leverage the potential of blockchain technology to facilitate faster, more cost-effective, and highly transparent international transactions.
In today's rapidly evolving global business landscape, the ability to execute cross-border payments and settlements with speed and efficiency is a critical differentiator for financial institutions seeking to meet the growing demands of their corporate and individual clients. The KyberBits Network's innovative solution addresses this pressing need, ensuring that funds are transferred swiftly and securely across national borders, without the typical delays and complexities associated with traditional cross-border payment mechanisms.
For businesses that rely on quick settlement to maintain optimal cash flow and operational efficiency, the KyberBits Network empowers these enterprises to respond to market demands with agility, strengthen their competitive position, and drive sustainable growth in the global marketplace. For individuals, it means faster remittances and the ability to manage international transactions without the typical delays.
6.2. Benefits for Banks, Financial Institutions, and their Clients
The integration of the KyberBits Network's innovative solutions into the operations of banks and financial institutions unlocks a wealth of transformative benefits, empowering these esteemed organizations to enhance their competitiveness, streamline their processes, and deliver a superior customer experience.
Efficiency in Operations
By leveraging the KyberBits Network's near-instant settlement capabilities, financial institutions can significantly streamline their cross-border payment and settlement processes, reducing the need for complex and costly intermediary mechanisms. This enhanced operational efficiency translates to tangible cost savings and improved resource allocation, ultimately strengthening the institution's bottom line.
Enhanced Customer Experience
Customers of banks and financial institutions that have adopted the KyberBits Network's solutions can enjoy a seamless and highly rewarding experience when executing international transactions. The KyberBits Network's focus on speed, transparency, and cost-effectiveness ensures that customers can navigate the complexities of cross-border payments with unparalleled convenience and satisfaction.
Innovation and Competitiveness
By deploying their native tokens within the KyberBits Network ecosystem, financial institutions can
unlock new opportunities for innovation, diversifying their product offerings and enhancing their competitive positioning within the dynamic digital finance landscape. This strategic integration empowers these organizations to stay ahead of the curve, catering to the evolving needs of their clients with cutting-edge financial solutions.
Regulatory Compliance
The KyberBits Network's unwavering commitment to regulatory compliance provides banks and financial institutions with the peace of mind and assurance that all transactions and token deployments within t h e ecosystem adhere to the relevant standards and guidelines. This robust compliance framework enables these organizations to navigate the complex regulatory landscape with confidence, mitigating risks and safeguarding the interests of their clients.
7. Empowering Financial Institutions:
Unlock Growth on the KyberBits Network
In the rapidly evolving financial landscape, banks and financial institutions are constantly seeking innovative ways to enhance their offerings and stay ahead of the curve. The KyberBits Network aims to present a unique opportunity for these institutions to unlock new avenues for growth and profitability.
By partnering with the KyberBits Network, banks and financial institutions can deploy their own native tokens on the KyberBits blockchain. This feature empowers these institutions to create a token tailored exclusively to their specific requirements, granting them full control over its utility and distribution. These native tokenscan serve a wide range of purposes ,from facilitating internal settlements and customer rewards programs to developing specialized financial products catered to their clientele.
7.1. The KyberBits marketplace harnesses the transformative power of tokenization.
The KyberBits marketplace lies the transformative power of tokenization. By leveraging the latest advancements in blockchain technology, the platform aims t o enable the seamless conversion of a wide range of physical and digital assets into tradable digital tokens. This process of fractionalization democratizes ownership, empowering investors to access previously exclusive investment opportunities.
Envisioned as a vibrant hub of activity, the KyberBits tokenized assets marketplace will offer investors a comprehensive selection of tokenized assets, each meticulously crafted t o unlock new avenues for growth and diversification. From the solidity of real estate and the allure of commodities to the promise of equity and the ingenuity of intellectual property, the platform will provide access to a symphony of digital assets, catering to t h e diverse investment preferences and risk profiles of its global clientele.
The KyberBits tokenized assets marketplace addresses the longstanding challenges of limited liquidity and lack of transparency that have historically plagued traditional asset markets. By creating a secondary market for these tokenized assets, the platform will facilitate seamless trading and exchange, enabling investors to buy, sell, and manage their holdings with greater ease and efficiency. This enhanced liquidity will not only drive faster appreciation of asset values but also provide investors with more opportunities to realize their gains.
Real Estate Tokenization Working
The Working Process of the Real Estate Tokenization wil be as follows
7.2. Smart Contract-Controlled Trading
For financial institutions, the ability to maintain a stable and reliable medium of exchange is of paramount importance. The typical volatility associated with cryptocurrencies has often been a deterrent for these organizations , hindering their adoption of digital assets. However, the KyberBits Network's smart contract-powered token management system addresses this challenge head-on. The KyberBits smart contracts are programmed to govern the trading and exchange of the newly created tokens, enabling precise control over their price fluctuations. This control over token pricing allows financial institutions to leverage the KyberBits ecosystem with confidence, knowing that their transactions will be executed with the reliability and consistency they require.
7.3. Benefits for Banks and Financial Institutions
Unprecedented Accessibility
The KyberBits marketplace is designed to dismantle the financial barriers that have traditionally restricted access to high-value investment options.By leveraging the power of blockchain technology, the platform aims to democratizes ownership, allowing investors of all backgrounds to participate in previously exclusive opportunities. This unprecedented accessibility empowers individuals to diversify their portfolios ,unlock new avenues for growth ,and achieve their financial aspirations ,regard less of their networth or investment experience.
Liquidity Revolution
Tokenization is the cornerstone of the KyberBits marketplace, transforming traditionally illiquid assets into tradable digital tokens. This revolutionary process imbues these assets with newfound fluidity, facilitating transactions that are both quick and efficient. Investors can buy, sell, and exchange their holdings with greater ease, unlocking new opportunities for portfolio optimization and the realization of
gains.
Immutable Transparency and Unassailable Security
At the core of the KyberBits marketplace lies the inherent transparency and security of blockchain technology. Investors can enjoy crystal-clear visibility into the ownership and transaction history of the assets they hold, fostering a level of trust and accountability that is unparalleled in traditional financial systems. The decentralized nature of the blockchain also ensures the inviolability of these records, safeguarding investors' assets and transactions from tampering or unauthorized access.
Anonymity and Privacy Without Compromise
In an era where privacy is of paramount concern ,the KyberBits marketplace aims to offer a unique solution that empowers investors to maintain their anonymity without compromising the security of their investments. By forgoing traditional KYC requirements, the platform allows users to participate in the digital asset ecosystem while retaining their privacy within a secure, decentralized framework. This approach not only respects the individual's right to privacy but also fosters a more inclusive and diverse investment landscape.
8 . Technology Stack
8.1. Service Layer
• APls and SmartContract Execution: Provides interfaces for dApp interaction ,smart contract deployment, and execution.
• DataStorage: Ensures secure and efficienton-chain and off-chain data storage solutions.
8.2. Application Layer
• IDE Interface: Hosts the KyberBits IDE,allowing users to build ,test,and deploy applications.
• AlComponents: Contains Al-driven tools for code generation ,optimization , andanalytics.
8.3. Consensus Mechanism
The KyberBits Network introduces a more advanced iteration of the proof of stake consensus model, termed Delegated Proof of Stake (DPOS). DPOS stands as an evolutionary step forward from the traditional PoS system, providing users within the network the authority to participate in the selection of delegates responsible for validating blocks. This innovative mechanism within DPoS grants users the privilege to cast their votes for delegates, also recognized as validators, who are entrusted with the critical task of verifying and generating blocks within the blockchain infrastructure. After successfully producing a block, these validators possess the ability to distribute the rewards associated with the block to those individuals who have cast their votes in their favour, there by incentivizing active participation and engagement within the network.
The functionality embedded within a DPOS framework is structured to empower validators to ascertain and confirm block transactions based on the volume of coins they have staked in the network. Unlike the Proof of Work (PoW) consensus method that relies on miners solving intricate mathematical puzzles, the DPoS approach requires validators to stake a predetermined and fixed quantity of coins as mandated by the network. This stake enables them to validate transactions securely and effectively, cementing the integrity of the blockchain. This ground breaking departure from the PoW methodology streamlines the validation process, making it more energy-efficient while preserving the robustness and security of the network. Through this decentralized and democratic voting process, DPOS ensures a fair and efficient system where active participants are duly rewarded for their contribution to the network's stability and functionality.
The selected validators are shuffled using a pseudorandom number derived from the block number. This shuffling ensures that all validators maintain balanced connectivity with each other. If a validator misses a block and has not produced any blocks within the last 100000 blocks, they are removed from consideration until they notify the blockchain of their intention to resume block production. This mechanism ensures the network operates smoothly by minimizing missed blocks, as unreliable validators are not scheduled. Under normal conditions, a DPOS (Delegated Proof of Stake) blockchain does not experience forks because the block validators collaborate to create blocks rather than
compete.If a fork does occur ,the consensus protocol will automatically switch to the longest chain.
This mechanism works because the rate at which blocks are added to a forked chain is directly related to the percentage of block validators that support the same consensus. In other words, a blockchain fork with more producers will grow faster than one with fewer validators. Moreover, no block validator should create blocks on two forks simultaneously. If a block validator is found doing this, they will likely be voted out. Cryptographic evidence of double production can also b e used to automatically remove such abusers, maintaining network stability and limiting security risks.
Delegated Proof Of Stake (dPoS)
8.4. Node Architecture
The KyberBits Network's architecture is grounded in the principle of a replicated deterministic state machine. While a state machine can occupy multiple states ,it operates in only one state at a time. Transactions trigger state transitions, propelling the machine from one state to the next.
• With in the blockchain framework ,transactions are grouped into blocks to enhance efficiency. Given an initial state (S) and a block of transactions (B), the state machine sequentially processes each transaction, culminating ina new state (S').
The network harnesses the power of the Cosmos SDK, providing developers with the flexibility to define their application's state, transaction types, and transition functions. This design guarantees deterministic behaviour, ensuring that nodes replaying identical transactions invariably arrive at the same concluding state.
CometBFT
CometBFT governs the networking and consensus layers of the KyberBits Network blockchain. Designed to be application-agnostic, it prioritizes the propagation and sequencing of transaction bytes throughout the network.
Utilizing a Byzantine Fault Tolerant (BFT) algorithm, CometBFT orchestrates consensus among a designated set of Validators. These Validators, tasked with appending blocks to the blockchain, constitute a validator set (V) at each block's inception. A consensus on block validity is established when over two-thirds of V validate it.
ABCI (Application Blockchain Interface)
The consensus engine, CometBFT, interacts with the KyberBits Network application through ABCI, an interface that the application must ad here to.
Transactions are relayed from CometBFT to the application for processing, which then returns a status code indicating success or failure.
Key ABCI Messages:
• Check T: Validates transactions before they are incorporated in to blocks ,preventing spam and ensuring compliance with basic criteria.
• Deliver T: Executes transactions with invalid blocks ,facilitating state transitions and updating the application's state accordingly.
•Begin Block End Block: These messages are triggered at the onset and conclusion of each block, initiating additional logic and operations.
• Commit: Computes a cryptographic commitment to the current application state ,which is then embedded in the subsequent block header.
An application can support multiple ABCI socket connections. Tender mint Core, for instance, establishes three ABCI connections with the application: one for transaction validation during meme pool broadcasting, another for the consensus engine to execute block proposals, and a third for querying the application state. It is crucial for application designers to meticulously craft their message handlers to develop a
functional blockchain. While this architecture offers a foundational framework, thoughtful design is essential. The accompanying diagram below illustrates the message flow via ABCI.
Flow of a Message through ABCI
8.5. EVM Compatibility
KyberBits Network enables EVM compatibility by implementing various components that together support all the EVM state transitions while ensuring the same developer experience as Ethereum:
• Ethereum's transaction format as a Cosmos SDKTx and Msg interface
• Ethereum's sec256k curve for the Keyring
• StateDB interface for state updates and queries
• JSON-RPC client for interacting with the EVM
Most components are implemented in the EVM module to achieve a seamless developer UX, however, some of the components are implemented outside of the module.
Accounts: Crypto Wallets (or Accounts) can be created and represented in unique ways on different blockchains. For developers who interface with account types on KyberBits Network, for example, during wallet integration on their dApp frontend, it is therefore important to understand that accounts on KyberBits Network are implemented to be compatible with Ethereum type addresses.
KyberBits Accounts: KyberBits defines its own custom Account type to implement a HD wallet that is compatible with Ethereum type addresses. It uses Ethereum's ECDSA sec256kl curve for keys (eth_secp265kl) and satisfies the EIP84 for full BIP44 paths. This cryptographic curve is not to be confused with Bitcoin's ECDSA sec256kl curve.
The root HD path for KyberBits-based accounts is m/44/60/0'/0. KyberBits uses the Coin type 60 to support Ethereum type accounts.
The custom KyberBits Eth Account satisfies the Accountl interface from the auth module and includes additional fields that are required for Ethereum type addresses:
// EthAccountl represents the interface of a n EVM compatible account
type EthAccountl interface i
authtypes.Accountl
// EthAddress returns the ethereum Address representation of the Acc Address Eth Address common.Address
// CodeHash is the keccak256 hash of the contract code (if any) GetCodeHashcommon.Hash
//SetCodeHashsetsthecodehasht otheaccountfields
SetCodeHash(code common.Hash) error
// Type returns the type of Ethereum Account (EOA or Contract)
Type int8
EVM
8.6. Security Measures
8.6.1. Quantum Resistance
• Algorithm Selection: Employs a selection of the most advanced post-quantum cryptographic algorithms, including lattice-based, hash-based, and multivariate polynomial cryptography.
• Regular Updates: Continuously updates cryptographic algorithms to incorporate the latest advancements and research in quantum resistance.
• Security Audits: Conducts frequent security audits to test the platform's resilience against quantum computing threats.
8.6.2. General Security Measures
• Multi-Factor Authentication(MFA): Enhances user account and transaction security through multi-factor authentication mechanisms.
• End-to-End Encryption: Ensures all data transmitted with in the network is encrypted to prevent un authorized access.
• Continuous Monitoring: Implements real-time monitoring and anomaly detection to identify and mitigate security threats promptly.
9 .Experimental Results and Analysis
The experimental analysis of the algorithm is divided into two parts to verify its correctness and effectiveness.
9.1. Credit Incentive Mechanism
To identify malicious node behaviour, we quantified malicious actions and categorized a node as malicious if it engaged in three or more malicious activities. Consequently, we adjusted the parameter factors 1,a.B.y.5, and 0. Specifically , we set a to 22.5 ,Y to 0.3,A to 10, and exa to 3 .More over ,we modified the reward and penalty mechanisms using the following formulas:
To identify malicious node behaviour, we quantified malicious actions and categorized a node as malicious if it engaged in three or more malicious activities. Consequently, we adjusted the parameter factors 1, a. B. v. §, and 0. Specifically, we set a to 22.5, Yto 0.3, Ato 10, and exa to 3. Moreover, we modified the reward and penalty mechanisms using the following formulas:
Number of consensus rounds
Credit Value Reward and Punishment of Nodes
Node1 and Node2 function as standard nodes ,while Node3 , Node4 , and Node5 operate as reputable nodes. Notably, the credit values for Node1 and Node3 consistently increase over time. In contrast, Node2 and Node5 exhibit malicious behaviour three times, causing their credit values to plummet below the threshold and ultimately reset to zero. Meanwhile, Node4 engages in malicious activity once, resulting in a single reduction of its credit value.
9.2. Accounting Node Selection
To illustrate the efficacy of the accounting node selection mechanism ,we present a case study showcasing the comprehensive reputation value evolution of nodes, depicted in the figure below. In this example, Node1 and Node2 function as standard nodes, whereas Nodes3 , 4 , and 5 operate as reputable nodes. The comprehensive reputation values of Node1 and Node3 exhibit consistent growth
overtime .In contrast ,Node2 and Node5 under go a three-fold decrease in their comprehensive reputation values due to repeated malicious activities, ultimately resetting their values to zero.
Meanwhile, Node4 , despite engaging in one malicious act, experiences a single reduction in its comprehensive reputation value but continues to gradually increase over time.
Number of consensus rounds Comprehensive Reputation Value of Nodes
10. Market Size and Opportunity
The global blockchain technology market has witnessed a remarkable trajectory, showcasing the transformative potential of this disruptive innovation. In 2023, the market size stood at USD 17.5 billion - a testament to the growing adoption and integration of blockchain solutions across diverse industries - and the global blockchain market is anticipated to reach a staggering USD 1,235 billion by June 2030. This exponential growth in the blockchain industry presents a significant opportunity for the KyberBits Network to capitalize on and solidify its position as a leading player in the decentralized ecosystem. As the global demand for blockchain-powered applications and services continues to surge, the KyberBits platform is uniquely positioned t o leverage its innovative architecture, seamless Ethereum Virtual Machine (EVM) compatibility, and comprehensive suite of decentralized solutions to attract a rapidly expanding user base and drive widespread adoption.
10.1. KyberBits Strategic Advantage in a Burgeoning Blockchain Landscape
The KyberBits Network's strategic alignment with the burgeoning blockchain industry positions it as a prime beneficiary of the anticipated market growth. With a scalable, secure, and user-friendly platform that seamlessly integrates with the Ethereum ecosystem and facilitates the development of decentralized applications , KyberBits is poised to redefine the blockchain landscape.
Moreover , the KyberBits team's deep understanding of the blockchain landscape and its commitment to continuous innovation will enable the platform to adapt and evolve in tandem with the industry's changing dynamics. This agility, coupled with the network's robust infrastructure and comprehensive suite of decentralized applications , will allow KyberBits to capitalize on the exponential growth of the blockchain market and solidify its position a sale leading player in the global DeFi ecosystem.
10.2. KyberBits Competitive Edge
A Powerful Suite of Features the KyberBits Network is underpinned by powerful features that contribute t o its world-class capabilities.
• High throughput
• Quick blocktime
• Cross-chain bridges
• Seamless smart contract deployment
• Token development
• DeFi ready
Backed by a Strong Technology Stack
The KyberBits Network boasts a formidable technology stack, fortified for optimal performance.
• Solidity
• Node.js
• React.js
• Golang
10.3. Benefits
• Increased Accessibility: The KyberBits Code Tool environment empowers a wider range of users to participate in blockchain development, fostering innovation and ecosystem growth.
• Faster Development: Al-driven tools significantly reduce development time and effort, allowing users to rapidly build and deploy blockchain applications.
• EnhancedSecurity: The PQC-based addressing scheme safeguards the platform against future threats posed by quantum computers, ensuring long-term security for users.
11. KyberBits USD (KYBUSD) Token
The KyberBits USD (KUSD) token serves as a stablecoin, designed to provide stability and reliability within the digital marketplace. The KYB-USD token is intricately pegged to the US dollar, maintaining a 1:1 value ratio through a reserve of real-world assets or cash equivalents equal to the number of KYB-USD tokens in circulation. This reserve will be regularly audited and published to ensure transparency and build trust in the KYB-USD's value.
11.1. Minting and Burning Mechanism
The KyberBits Network wil initiate a minting process to create KBITS-USD tokens, where the number of tokens produced will be equivalent to the dollar amount deposited in the reserve. This process ensures that for every KBITS-USD token in circulation, there is a corresponding dollar held, preserving the pegged value. The KyberBits Network will leverage smart contracts to automate the minting and burning of KBITS-USD tokens ,providing a scalable and efficient mechanism to match the supply of KBITS-USD tokens with the demand of the market and the assets backing it.
11.2 Stability for Dividend Pay-outs
The stability of KBITS-USD tokens is essential for users receiving dividends from tokenized assets, as it guarantees that the pay-out retains its dollar-denominated value regardless of the volatility in the cryptocurrency markets. This feature provides a reliable and consistent experience for investors and asset holders within the KyberBits ecosystem.
12. KYBITSToken
At the heart of the KyberBits Network's functionality lies the KyberBits (KYBITS) utility token , which serves as a critical component in the transition from a conceptual model to a fully operational platform. The BITS token is designed to facilitate seamless interactions and transactions within the KyberBits ecosystem, enabling user's access to accelerated, secure, and transparent transactions .
The BITS token is designed to be the primary medium of exchange within the KyberBits Network. facilitating seamless transactions and fostering a thriving digital economy.
As the KyberBits platform continues to expand and onboard new users and partners, the demand for the BITS token is expected to grow, further enhancing its utility and value proposition.
12.1 Tokenomics of KYBITS Token
The total supply of tokens will be determined by the amount sold during the presale ,which will consistently represent 12.85% of the total supply.
KyberBits is underpinned by a carefully crafted tokenomics structure designed to support the sustainability and growth of our blockchain ecosystem. The total supply of KyberBits tokens (BITS)
will be determined by the number of tokens sold during the presale.
Token Distribution Overview
• Presale/ICO: 12.85% of total tokens are set aside for presale and ICO ,allowing early participants to support the initial phase of the project.
• Team: 11.88% of tokens are allocated to the team, with a vesting period that includes a 6-month cliff to ensure long-term commitment.
• Ecosystem: 20.85% is dedicated to reinforcing the KyberBits ecosystem ,which encompasses liquidity provision and validator rewards to sustain a robust environment.
• Advisors: 3.12% is reserved for advisors ,who provide essential strategic guidance to shape the project's direction. These tokens will also have a vesting period that also includes a 6-month cliff.
• Foundation: 18.23% supports the KyberBits Foundation ,funding promising projects that leverage the KyberBits network.
• Network Operations: 13.78% ensures the smooth operation of the KyberBits network ,covering ongoing maintenance and operational needs.
• Reserves: 15% is kept in reserve to address unforeseen needs and maintain stability with in the marketplace as necessary.
• Community Incentives: 4.29% aims to foster community growth and encourage adoption through various incentives.
The total supply of tokens will adjust based on the volume sold during the presale, with the presale portion consistently representing 12.85% of the total, ensuring adaptability and scalability in supply management.
Tokennomics
12.2. Market Strategy for $KYBITS Token
Presale/ICO Stages Overview
The presale for KyberBits is planned to span 6-8 months, aligning with our anticipated timeline for the launch of the mainnet. The presale is structured into stages, each lasting 7days. With the conclusion of each stage, the price for the next stage wil increase by 10%. At the launch of the mainnet , the listing price of the tokens will be set at 20% above the price of the final presale stage.
This staged approach is designed to gradually scale investment opportunities up to the official network launch.
Launch Strategy Overview
KyberBits has developed a careful launch strategy for the BITS token aimed at maintaining market stability. At the outset, liquidity will be introduced in a phased manner to help manage market dynamics effectively. Renowned market makers will be engaged to assist in stabilizing the token as it becomes publicly tradable. After navigating the initial market adjustments typical for new tokens, we will methodically increase liquidity and introduce additional market makers.
This approach is intended to support a stable trading environment for the $KYBITS token, complementing the overall development and expansion goals of the KyberBits ecosystem. Our strategy focuses on balancing immediate market needs with the long-term sustainability of the token, ensuring that it serves the interests of the community and stakeholders effectively.
Long-Term Market Stability Objectives
The KyberBits Network is committed to a long-term vision of market stability and growth for the BITS token. This commitment is underpinned by the platform's strategic approach to the initial listing and ongoing market management efforts.
The KyberBits team's objective is to create a conducive environment for the BITS token to thrive, reflecting its intrinsic value and the network's potential. This strategic approach is designed to ensure a stable launch and ongoing market viability, aligning seamlessly with the network's broader
vision of sustainable growth and fostering active community participation.
The KyberBits Network's market entry and stabilization plan, coupled with its carefully crafted tokenomics structure, collectively highlight the platform's commitment to a sustainable and successful market presence for the KYBITS token. This comprehensive strategy is not only geared towards ensuring a stable launch but also aims to maintain the long-term viability and growth of the BITS token within the KyberBits ecosystem. By prioritizing market stability and growth ,the platform is poised to unlock the full potential of the KYBITS token and drive the long-term success of the KyberBits Network.
13. Fee Structure
The KyberBits Network is committed to providing a low-cost and efficient fee structure to ensure a healthy, functioning economy while maintaining high throughput. This comprehensive approach to fees is designed to promote the long-term sustainability and growth of the KyberBits ecosystem.
BaseFee
Transactions on the KyberBits Network incur abase fee, which is designed to prevent spam and to compensate the network's validators proportionate to their staked BITS tokens. This fee structure ensures the fair and equitable distribution of rewards to validators, incentivizing their participation in maintaining the network's security and integrity.
Stake Weight
Rather than relying on computational resources, the KyberBits Network's fee structure considers the stake weight in validating transactions, promoting energy efficiency and reducing the environmental impact of the platform's operations.
Network Load
Transaction fees on the KyberBits Network dynamically adjust based on network activity to ensure smooth processing without overburdening validators. This approach helps to maintain a balanced and efficient ecosystem, catering to the evolving needs of users and network participants.
KYBS
The KyberBits Network utilizes “KYBS,” set at one-billionth of a KYBITS, as the denomination for transaction costs. This granular approach allows for fair and precise fee calculations, ensuring that users are charged appropriately for the services they consume.
Lease Commitments
Fees for smart contract deployment and on-chain data storage on the KyberBits Network reflect lease commitments rather than computational use. This model promotes efficient resource utilization and encourages responsible data management practices within the ecosystem.
Fee Market
The KyberBits Network has implemented an inbuilt fee market mechanism to ensure that validators are fairly compensated for their service. This approach helps to balance the network's supply and demand, contributing to the overall stability and sustainability of the platform.
Staking Rewards
Validators on the KyberBits Network receive staking rewards ,which can offset transaction fees.This incentive structure encourages robust participation in network security, further strengthening the KyberBits ecosystem.
KYBERBITS NETWORK