Please register to express interest to buy Ceybits.
Token Value Proposition
Ceybit is an ambitious project planning to introduce, educate, facilitate and promote the use of cryptocurrencies with Ceybits (CYBT) through its platforms. In order to achieve this vision a new token utility model, which drives token value by directly contributing and interacting with platform products, is being implemented. The approach has been to link platforms to the token, inherently, in such a manner where transactions (revenues) and requirements of the platforms will inturn affect token valuation.
Ceybit believes this to be a new engine for a token economy. The buyback model will add value by tying CYBT to platform utility; that is, as the number of transactions increase so can the value of CYBT.
Being the first exchange in Sri Lanka (and later in other untapped markets) catering to the ever growing demand for cryptocurrency places Ceybit in a strong position to fuel CYBT adoption and jump start a token economy.
Important details about platform token purchases
* All parties are required to go through a basic KYC (Know Your Customer) process in order to attain eligibility for token purchases.
* Citizens and/or residents of the following countries are excluded:
United States of America
Australia
All other parties are welcome to submit an Expression of Interest.
KYC and Whitelist
KYC will only take place on the official website www.ceybit.net. All parties are required to register to participate. The status of KYC qualification will be displayed through an independent dashboard.
There will be no whitelists as we believe this is against the principles of decentralization and inclusivity.
Contribution Limits
There will be no minimum or maximum limits to contributions at any particular stage; nominal demand and supply per free market standards will be followed.
The Ethereum contribution address will be available for approved and eligible participants through a dashboard.
Correspondence
Ceybit will NEVER under any circumstances send Ethereum addresses for private contributions, ask for personal data (except at registrations), or accept direct funding via email. Participants are encouraged to always check their dashboards and/or social media channels for any important updates. Please exercise caution and be vigilant of scam and phishing attempts. If you see any suspicious activity, it will be appreciated if you bring it to our attention.
Official Ceybit emails will go out from @ceybit.net or @ceybit.lk
Ceybit (CYBT)
Supply
Total Supply
2.1 Billion CYBT (Max)
Total available for purchase
987 Million
Token Allocation
Team tokens will be locked for a period of 12 months after smart contract deployment.Company reserve tokens will be locked for a period of 12 months for use by the Ceybit Foundation.User Growth Pool (UGP) will be released in stages; beginning 6-8 months after platform launch.
NOTE: No more than 2% of total token supply will be released per year from the User Growth Pool (UGP).
At exchange launch, there can be up to 987 million tokens in the market or less depending on subscribed amounts. Token purchases will be distributed immediately and will be transferable.
Token & Disburesement Details
Symbol
CYBT
Category
Exchange
Platform
ERC20
Unsold Tokens
Remain Until Sold
Lot 1 Tokens Available
148,050,000
Lot 2 Tokens Available
345,450,000
Lot 3 Tokens Available
246,750,000
Lot 4 Tokens Available
246,750,000
Lot 1 Rate
1ETH = 33,000 CYBT
Lot 2 Rate
1ETH = 29,000 CYBT
Lot 3 Rate
1ETH = 22,500 CYBT
Lot 4 Rate
1ETH = 20,000 CYBT
Lot 1 CYBT Bonus
65.0%
Lot 2 CYBT Bonus
45.0%
Lot 3 CYBT Bonus
12.5%
Lot 4 CYBT Bonus
0.0%
Accepted Cryptocurrency
Ethereum
Min/Max Contribution
None
Hardcap
39,680 ETH
Why is it essential to have a token?
There are a few reasons for a native platform token:
Community: The ultimate goal is to create and introduce a new token-based economy. This requires acquiring large scale participants from different regions to create a strong and diverse community. The larger the community the higher the probability of success for the token model and stronger the network. Ceybit aims to educate the community in seeing the value in the technology it is introducing. Ceybit recognize that it will be beneficial to have a diverse group of token holders who will be participating in the ecosystem to create value.
User growth pool: This is a collection of tokens retained for platform growth purposes. Ceybits (CYBT) will be released via promotions to acquire new users to the platform. A token generation event enables to create this pool of tokens to grow the platforms. Taking inspiration from PayPal; which gave cash benefits to attract users, respectively CYBT is intended to be used as a tool to introduce new members to the platforms and community.
Crowdfunding: Community funding with the help of smart contracts are highly successful tools used to obtain the necessary support to jumpstart projects and communities. Instead of taking private venture capital routes where a few individuals benefit most, we have opted to take the route of crowdsourced contributions to even the benefits to our participants. The former does not allow us to create a community as effectively as the latter in an organic manner.
Affordability: This applies specifically to the general Sri Lankan population (and other developing economies). The average income of a Sri Lankan according the World Bank is around $4000 USD per annum. This amounts to roughly 0.65 Bitcoins (BTC) or 20.33 Ethers (ETH) per year (at the time of writing the price of BTC is $6500 USD and ETH is $210 USD). Taking into consideration living and general expenses, obtaining BTC or ETH becomes insignificant. An ordinary person in the country will not be able to afford a Bitcoin or Ethereum, making it just that much harder to enter the cryptocurrency markets. Therefore, CYBT being a low-priced entry to the market will allow the masses the opportunity to enter, invest and grow their cryptocurrency portfolio by way of participation adding to network effects.
Budget Allocation
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