Designed to improve the success of decentralized applications in the open source community and to aid in protecting the rights of the project owners and developers, Kyubey Network proposes a DAIBO protocol for DApps to issue smart tokens and provides an integrated incubator service which includes, but is not limited to, project setting up, technical consulting, crowdfunding, token exchange, DAC system, as well as providing developer tools for aiding in automatic package deployment.
Initial coin offering(ICO) becomes a popular way for startups to raise fund in the past few years. All they need to do is to issue a standard ERC20 token with a whitepaper and promise a bright future of the project. Scammers are flooding into the market and raise huge amount of money by issuing useless tokens, which already created an “ICO bubble”.
Also, the top 10% of tokens make up 95% of the entire token market cap and represent 99% of all trading volume. With the market calming down, investors get hurt and no longer interested in the small scale token due to low liquidity.
Bancor protocol has in-build convertibility within its smart contract infrastructure thus provides liquidity to small-scale tokens. If a new token issued from an IBO event, the raised fund will be sent to the smart contract directly. It means that the new token’s value is backed by the smart contract’s balance.
The price of each token is calculated by connector (another token you raised to issue the new token) balance, outstanding supply and Connector Weight (CW).
During an IBO event, the price (and supply) of the new token increases whenever the token is purchased, and decreases whenever it is sold, and in both cases relative to transaction volumes (meaning bigger increases or decreases for larger transactions in either direction).
However, the standard IBO model is unfair to the normal investors and sometimes also hurt the issuer in the following ways:
As mentioned above, current IBO projects obviously take the advantage of the entry timing, which is unfair to normal users. Therefore, we use the group buying mode integrated with several IBO phases to have the fairness.
Rather than a centralized authority to judge the project process, here we encourage the community to vote for the project process. We can’t simply trust the developer or any other 3rd party organization says the project has finished 50% of its milestone. But the community can make the decision.
Develpers can benefit from Kyubey’s partnership, technical community, as well as other resources. DApp developer teams can collaborate with each other to leverage the token economy.
Kyubey lab is a genius bar for developers to gather together and show their creativity, Dapps conceptions or any other interesting ideas. The Kyubey lab will help and support the community developers in the ways of technical consultant and support, fundraising by DAIBO, community resources and any other ways as you wish.
What should be especially mentioned is that Kyubey lab will offer a smart contract library to the public. The library will collect most of smart contracts which have been tagged and code reviewed by our professtional audit team. The community can use the contracts to create their products easily.
The OTC exchange function launched at September 2018. It is fully on-chain order matching, decentralized, and free of charge. It aims to give the community a fair market to exchange and build a healthy ecology.
We are the first decentralized exchange that provide DAIBO function with blockchain smart contract. Users no longer need to visit each projects’ websites to do the transaction.Our Dex will provide a platform for the users to exchange the IBO token with each IBO contract and also the tokens could be exchanged pairedly. People can easily buy or sell tokens with DAIBO contract.
KBY token holders can have the voting rights by stake KBY and participate in the community management, such as voting and sharing the dividends.
KBY is the token of Kyubey Network that issued by Kyubey Network’s DAIBO protocol. The KBY token holder automatically becomes the shareholder of Kyubey’s platform and share all the rights, including: sharing dividends of Kyubey’s profit, voting rights, airdrop from community’s DApp. Also it is listed on Dexs and is tradeble.
DApp Token airdrops to KBY token holders
Dividend distribution to KBY token holders