YEdge Token Economy
The YEdge Token
The Yotta Laboratories Network will issue its own token, called a “YEdge Token”, as a medium of exchange (payment) for its participants. A YEdge Token will be a utility token of which can be used to transfer value among YEdge Network participants. The token will be compliant with the ERC20 token standards.
The YEdge Token Platform
The YEdge Token is a platform to support Yotta products and services created by us, or one of our affiliates, which will manage, control, distribute and regulate the amount of cryptographic assets such as tokens which are available for circulation in the system. The YEdge Token will allow for the following transactions to occur (which does not comprise an exhaustive list): Purchasers will be able to exchange YEdge Token in exchange for a specific type of storage services in return; The YEdge Token platform will also be able to receive tokens from Purchasers and issue the Purchaser with YEdge Tokens up to a certain amount of tokens, as determined by the YEdge Token platform by a way of a valuation scale (which valuation scale the YEdge Token platform shall vary from time to time in its sole discretion); and the YEdge Token platform will be supported by a blockchain protocol and will therefore be open to online audits, reviews and compliance checks from the integrated Yotta3 community from time to time.
The YEdge Token platform is still in its conceptual phase and will be subject to further development, updates and structural changes after the finalisation of the ICO and the completion of the YEdge Token platform. Businesses with a demand for edge cloud content delivery services will primarily be the buyers of YEdge Token. Initially, a single YEdge Token will represent 5 GB of data transfer, wherein owners of DApps or applications will use it to exercise content delivery services. The exchange rate between a YEdge Token and the amount of data transferred is to be pegged only during the Initial Coin Offering (ICO). In order to facilitate forecasting of expenditures for our customers, in the future YEdge services (data transfer pricing) will also be denominated in fiat currency. Customers will know exactly how much they’re paying in fiat at all times, even as the USD/YEdge exchange rate fluctuates.
YEdge tokens are used for:
Value transfer from customers to node, YEdge is the sole currency within the system that is being transferred from its customers (content hosting applications) onto its nodes that deliver that content for them. Network governance, Monetary incentives will help ensure that network’s participants are inclined to act in the most beneficial way to the network.
Further information is available in the whitepaper