Token Value Proposition

Ceybit is an ambitious project planning to introduce, educate, facilitate and promote the use of Ceybits (CYBT) by and for its platforms. In order to achieve this vision, we are implementing a token utility model which drives token value by directly contributing and interacting with our products. Our approach has been to link our platforms to the token, inherently, in such a manner that the revenues (transactions) and requirements of the platforms will drive the value of CYBT.

Ceybit believes this to be a new engine for a token economy. The buyback model will maximize returns to token holders by tying CYBT value to our platform utility; that is, as the number of transactions increases so does the value of CYBT simultaneously.

Being the first and only exchange in Sri Lanka catering to the high demand for cryptocurrency places Ceybit in strong position to fuel CYBT and maximize its value to jump start a new token economy.

Important details about the token sale

* All participants are required to go through the KYC verification process in order to attain eligibility for the token generation event.

* Citizens and/or residents of the following countries are excluded:

United States of America

Australia

All others are welcome to participate.

Know Your Customer (KYC) and Whitelist

KYC will only take place on the official website www.ceybit.net. Everyone must register to participate. KYC’s will be completed on a first come, first served basis. The status of KYC qualification will be displayed through the user 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 of the token sales; we will follow demand and supply per free market standards.
The crowdsale contribution address will be available for approved participants through their dashboards.

Correspondence

Ceybit will NEVER under any circumstances send Ethereum addresses for private contributions, ask for personal data (except at registrations), or accept direct funding. 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 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 Crowdsale

987 Million

Token Allocation

* Employee tokens will be locked for a period of 12 months after commencing token sales.

** 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 months after token sales commence.

NOTE: No more than 2% of total tokens supply will be released per year from UGP.

At launch, there will be 987 million tokens in the market or less depending on subscribed amounts. The tokens will be distributed immediately and will be transferable 2 months after Pre-ICO.

Crowdsale Details

Symbol

CYBT

Category

EXCHANGE

Platform

ERC20

Unsold Tokens

Retained*

Private Sale Tokens Available

148,050,000

Pre-ICO Tokens Available

345,450,000

ICO Stage 1 Tokens Available

246,750,000

ICO Stage 2 Tokens Available

246,750,000

Private Sale Rate

1ETH = 33,000 CYBT

Pre-ICO Rate

1ETH = 29,000 CYBT

ICO Stage 1 Rate

1ETH = 22,500 CYBT

ICO Stage 2 Rate

1ETH = 20,000 CYBT

Private Sale CYBT

Bonus 65.0%

Pre-ICO CYBT

Bonus 45.0%

ICO Stage 1 CYBT

Bonus 12.5%

ICO Stage 2 CYBT

Bonus 00.0%

Accepted Currency

Ether

Softcap

$10,000,000

Hardcap

$25,000,000

* All unsold tokens will be retained and used for platform development purposes, and user growth pools (if crowdsale is still active after 1 year). They will be locked for a period of 12 months before becoming available for use, if necessary.

Why is it essential to have a token?

There are a few reasons for the token sale:

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 our community the higher the probability of success for our token model and stronger our network. We aim to educate the community in seeing the value in the technology that we are introducing. We recognize that it will be beneficial for Ceybit 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. The CYBT tokens will be released via promotions to acquire new users to our platform rolled out at various stages. A token generation event enables us to create this pool of funds to grow our platform. Taking inspiration from PayPal, giving cash benefits to attract users, we intend to use CYBT as a tool to introduce new members to our platforms and community.

Crowdfunding: ICO’s are highly successful tools to obtain the necessary funds 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 funds to even the benefits to our participants. The former does not allow us to create a community as effectively as the latter.

Affordability: This applies specifically to the general Sri Lankan population. The average income of a Sri Lankan according the World Bank is around $4000 USD per annum. This amounts to roughly 0.45 Bitcoins (BTC) or 5.33 Ethers (ETH) per year (at the time of writing the price of BTC is $8700 USD and ETH is $750 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 market. Therefore, CYBT being a low-priced entry to the market will allow the masses the opportunity to enter, invest and grow their cryptocurrency portfolio.

Funding Allocation

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