From DID and beyond，New Explorations Driven by CyberMiles DAO

Since 2017, the CyberMiles ecosystem has embarked on a variety of pioneering endeavors. From its initial focus on e-commerce to the launch of the first DPOS-EVM Chain, and then branching into the NFT Marketplace and other aspects, our journey has been relentless and ever-evolving.

No matter how the industry shifts or market conditions, the CyberMiles ecosystem has consistently been at the forefront of blockchain innovation. We are dedicated to leveraging blockchain technology to address the physical world’s needs, and our ecosystem partners have supported this vision and mission.

The blockchain ecosystem belongs to and is maintained and driven by the open communities that sustain and provide it with value. Since its launch, CyberMiles has continued promoting decentralized governance, including the network’s operational infrastructure, governance structure and ecosystem, etc.

Therefore, with sufficient conditions in place and facing the problems we encountered to continue its process in a more open and extensible form, we hereby initiate CyberMiles DAO.

Over the past year, CyberMiles DAO has initiated and carried out a lot of work and has taken over crucial permissions including social network accounts, domain names, Github, and more. Subsequently, it officially launched CyberMiles 2.0 along with its associated governance and Stake protocol. After this hard fork upgrade, CyberMiles DAO plans to build applications focusing on DID and other domains. This ensures the ongoing realization of CyberMiles’ mission to apply blockchain to serve the physical world’s needs.

CyberMiles is progressing, just like the blockchain domain itself.

Now is the moment for CyberMiles 2.0 to start its new chapter, marking the beginning of an exciting era.

What’s not changed?

• CyberMiles is still an Ethereum compatible blockchain and CMT is the native gas token with a clear utility (i.e., paying for consensus execution of smart contracts).
• For all existing CMT holders, your on-chain addresses, private keys, and account nouances will stay the same.
• All Solidity-based CMT smart contracts and DApps will continue to work without change.
• The total amount of CMTs, precision, name and the held in any individual’s address will remain unchanged.
• The CMT is inflationary just like the ETH. New CMTs are minted with each new block
• There are no more than 21 validator nodes, and CMT holders can vote for different validators and receive CMT rewards from the CyberMiles network.

What changes?

• CyberMiles blockchain will be more robust and more compatible with the rest of the Ethereum ecosystem.
• CMT inflation will be reduced to 5 CMTs per block. They will be divided amongst the validators. All validator candidates will be registered in an on-chain smart contract called “validator contract”. Delegators stake to validator candidates through the “validator contract”.
• Validators no longer need to put up a self stake, nor does he determine how much to pay his delegators. Instead, he will be paid a fixed percentage of the block award. That means the validator can focus on running the node infra and attracting delegator stakes from CMT holders.
• CyberMiles 1.0 validators and node operators will need to upgrade software to CyberMiles 2.0. All CMT users should prepare for a down time for up to 48 hours between CyberMiles 1.0 shutdown and CyberMiles 2.0 launch.
• From the time CyberMiles 2.0 went live (i.e., 27 September), the official RPC / Explorer will switch to CMT 2.0. All your staked CMTs will become unstaked. You must re-stake your CMTs using the new staking interface.
• While it is still possible to run a CMT 1.0 node (it is decentralized and no one can not prevent it), those nodes and all transactions on them will not be recognized by the community and all exchanges we work with.
  The Lity programming language is deprecated. Existing Lity smart contracts on CyberMiles 1.0 will cease working.

Below are more in-depth descriptions tailored to specific roles

Validators (Nodes providing authentication services to the network)

Validators stake CMTs and set up nodes that participate in the consensus to earn awards. The award to each validator is proportional to the total stake in its node.

Instead of using special RPC commands, a CMT holder can call an on-chain smart contract to declare his candidacy to become a validator. He will need to run a CyberMiles 2.0 node and put the node’s public key in the candidacy declaration.

We have created a Dapp that allows any CMT holder to do this from a web UI. The website will launch with CyberMiles 2.0.

A validator candidate can be promoted to validator through the DAO consensus (ie a vote by active validators). It only starts to earn CMT awards after becoming a validator. The DAO promotes validator candidates to validator based on the following criteria.

• The validator candidate has successfully ran a CyberMiles 2.0 node without issues for a period of time.
• The validator candidate was able to attract delegator stakes from the community, or the validator owner has staked a significant amount CMTs to his own node.

A validator can be removed and revert back to a validator candidate by a DAO vote if he fails to meet the above two requirements continuously.

CyberMiles 2.0 will mint 5 CMTs as block award for each new block. The block award will be distributed to active validators and their delegators every 15 days through the validator contract. The validator must be in good standing for the entirety of the 15 days in order to receive block awards for this period. 20% of the block awards are allocated to validators to reward their effort in node operations.

Let’s say that s_ij is the CMTs staked at validator i by delegator j. v_i is the validator i’s income for each block it is active.

v_i = 5 * Sum_j(s_ij) / Sum_i(Sum_j(s_ij)) * 20%

Delegators (Any network member who holds CMT)

Delegators stake their CMTs to validators or validator candidates in order to earn CMT awards. Instead of using special RPC commands, a CMT holder can call an on-chain smart contract to stake and unstake a validator.

Staking a CMT to a validators triggers a 7-day unstaking period. There is a 7 day unstake period. That means once staked, the delegator must wait for 7 days before he can unstake.

We have created a Dapp that allows any CMT holder to do this from a web UI.

• CyberMiles 2.0 will mint 5 CMTs as block award for each new block.
• The block award will be distributed to active validators and their delegators every 15 days through the validator contract. The validator must be in good standing for the entirety of the 15 days in order for its delegators to receive block awards for this period. 80% of the block awards are allocated to delegators.

Let’s say that s_ij is the CMTs staked at validator i by delegator j, and d_ij is delegator j’s income for each block validator i is active.

d_ij = 5 * Sum_j(s_ij) / Sum_i(Sum_j(s_ij)) * 80%

Exchanges

Crypto exchanges can continue its CMT support by running a new CyberMiles 2.0 node. It is an Ethereum compatible node. Account addresses, private keys, and nouances will all be the same as before.

However, exchanges cannot accept CMT deposits or withdraw CMTs to the blockchain during the 1-week down time between CyberMiles 1.0 shutdown and 2.0 launch. The down time is needed to transfer and test all CyberMiles 1.0 accounts and smart contracts to CyberMiles 2.0.

CMT wallet users

The current CMT wallet iOS and Android apps will be deprecated, all users need to:

• Ensure that the private keys of all CyberMiles address have been backed up .You can import them into any EVM Wallet to use CyberMiles
• Abandon the use of this wallet after CyberMiles 1.0 when it closed. Delete it after you backed up the private key.
• There will be no more maintenance or updates to the CMT Wallet.

CMT owners can simply use the Metamask wallet. With Metamask, CMT owners can:

• Transfer CMTs
• Deploy smart contracts
• Operate any CMT DApps
• Declare validator candidacy
• Stake or unstake any validator candidate
• View staking income and status

Learn how to import a private key in the CyberMiles Guide article that explains it in detail.

CyberMiles node operators

All CyberMiles 1.0 nodes will automatically stop before CyberMiles 2.0 launches. We will then publish a software package for CyberMiles 2.0. The package contains a genesis file and database files for a snapshot of all accounts and smart contracts at the stop of CyberMiles 1.0.

After CyberMiles 2.0 launches, new node operators should able to join the network and catch up to the latest block.

CyberMiles Dapp developers

All existing Solidity-based CyberMiles 1.0 smart contracts and DApps should work on CyberMiles 2.0 without any change. There is no need to re-deploy anything.

Most Lity-based CyberMiles 1.0 smart contracts will also work in CyberMiles 2.0 since the vast majority of Lity contracts do not use Lity’s VM ops code extensions. If your contract is written in Lity, you should test and verify.

Ethereum smart contracts and DApps should work on CyberMiles 2.0 with a simple change of the chain ID.