Understand CYB

CYB coins

CYB is a token which belongs to CYBEX ecological system. CYB is of some value and transfers data and value on CYBEX public chain. CYB guards the safety of the chain through ECDSA of Elliptic Curve Cryptography secp256k1. Unlike most cryptocurrencies, CYB is more than a token, it also includes many core functions.

Basic info of CYB

Total supply: 1,000,000,000(1 billion CYB)
Token distribution: 15% CYB for PE, 500 million CYB for airdrop in 24 months, the rest for team, ecology and marketing.
Decimals: 6 digits

Functions of CYB

  1. Token of Dividends 
    CYB owns the property of dividend and 100% airdrop in 2 years. Given that you own 10,000 CYB for 2 years, you will get airdrops of 10,000 CYB in 2 years.
    CYBEX has started airdrop to CYB holders’ accounts on 20th or the first working day after 20th every month since March, 2018. A moment is randomly selected every month to snapshot CYB quantity in all accounts and 20,830,000 CYB is distributed proportionally through airdrop. The airdrop will last for 24 months and the total is 500,000,000 CYB. 
    The rule of random snapshot selection method: Selecting the first block’s hash value in the bitcoin network on the previous working day before the airdrop and transfer it into decimal digit, then divides last month’s number of days and the remainder is the airdrop snapshot date for this month.
  2. Token of Rights
    CYB holders own the right to vote for super nodes and CYBEX charity foundation members. CYBEX public chain adopts DPOS consensus mechanism and becoming supernodes requires at least 1% voting quantity. More than that, major decisions of CYBEX ecology require the approval of major votes of CYB holders.
  3. Token of Ecology
    CYB is the general token of CYBEX- a public chain. All applications on the public chain will support CYB and the functions included by CYB are mortgage, financial settlement, value transfer media, etc.
    CYBEX exchange is the first Dapp on the public chain. CYB is the settlement unit of trading fees in the exchange and is also the fundamental settlement currency. CYB is the fundamental settlement currency for bet in Dapp Quantum Football Bet. In the future, CYBEX public chain will list more Dapps and CYB will exist as data and value transfer media between different Dapps. CYBEX public chain will allow Dapps or individuals to issue Token provided that CYBis mortgaged as credit guarantee.
  4. Token of Deflation
    CYB owns burning mechanism which means property of deflation. Now trading fees are settled in CYB in the CYBEX exchange and 50% of the trading fees settled in CYB will be burnt. So the total supply of CYB will decrease and the value of the rest token will increase gradually. In the future, more burning mechanisms will be applied after other Dapps are listed. 
    For more info on CYB burning plan, refer to https://medium.com/@cybexexchange/cyb-burning-plan-35273f88c0f6
  5. Financial instrument
    When an ecology is strong enough, the need for Stablecoin will come into being. In the days to come when CYBEX public chain issues stable value asset, CYB can be fundamental financial instrument to stabilize assets.

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