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Author Topic: 🔥🌟😍[MVP RELEASED]🔥C Ξ Y B I T - EXCHANGE WITH REALTIME TOKEN BUYBACK 🚀🚀🚀  (Read 749 times)
ceybit
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May 27, 2018, 09:15:13 AM
Last edit: August 23, 2018, 03:08:18 PM by ceybit
 #1

C   Ξ   Y   B   I   T






 
[BOUNTY PROGRAM: ACTIVE] 🚀🚀EARLY SUPPORTERS ON TELEGRAM WILL BE REWARDED IN CYBT!🔥 JOIN US! [BOUNTY PROGRAM: ACTIVE]
BOUNTY THREAD


TOKEN METRICS

TOKEN SUPPLY (MAX): 2,100,000,000 CYBT

TOKEN ALLOCATION:

Crowdsale: 47%
User Growth Pool: 25%
Team: 15%
Foundation: 9%
Advisors: 2%
Bounties: 2%

TOKEN SALE METRICS:

PRIVATE SALE (65% BONUS): 1 ETH = 33,000 CYBT
PRE-SALE (45% BONUS): 1 ETH = 29,000 CYBT
ICO ROUND 1 (12.5% BONUS): 1 ETH = 22,500 CYBT
ICO ROUND 2 (NO BONUS): 1 ETH = 20,000 CYBT


SOFTCAP: NIL - Project to Continue
HARDCAP: 39,680 ETH - 12 Million USD




STRATEGIC PARTNERSHIPS:

NetBees Consulting | NODE CAPITAL




IN THE PRESS:

CCN
BLOCKONOMI
COINCRUCH.IN
BITCOINEXCHANGE GUIDE
FINANCIAL TIMES.LK
BTC INVESTOR






Definitive Platforms to Foster the Growth of Cryptocurrency For and By a New Token Economy

SRI LANKA'S OWN CRYPTOCURRENCY EXCHANGE
THE WORLDS FIRST EXCHANGE TO BUYBACK ITS TOKENS (CYBT) IN REALTIME  



SUMMARY


Sri Lanka is a developing country that is yet to participate in the blockchain revolution and is in a need for a cryptocurrency solution. We have identified this need and have developed a number of solutions to cater specifically to our target audience.

Introducing C Ξ Y B I T, the country's own cryptocurrency exchange working on providing the tools to ‘leapfrog’ Sri Lanka into the modern financial economy whilst utilizing first mover advantages to fuel its token and platforms. With your help, Ceybit will be Sri Lanka’s biggest and leading cryptocurrency exchange, aiming to introduce its population of 21.2 million people to cryptocurrency and the blockchain from which Ceybit will expand to Malaysia, Philippines and Indonesia.  

The exchange will have a native token (CYBT) which will be the form of entry, people will be encouraged to buy CYBT to enter the exchange as it would be a less costly way to start trading or holding cryptocurrencies.




The solutions are as follows and are scalable globally:

The Ceybit Exchange; the exchange will be at the center of our services. It will be user-friendly using latest technologies with a mobile app and focused on regulatory compliance. This exchange will support the Sri Lankan Rupee (LKR) to a number of cryptocurrency trading pairs. Additional fiat pairs will be added as Ceybit establishes physical presences in the corresponding countries. The exchange will be initially the primary focus of Ceybit’s operations.  
 
The Ceybit Mobile Wallet; the wallet will be equipped with the latest technology and a unique map providing users with location information of the merchants using Ceybit (CYBT) tokens. Users will be able to purchase cryptocurrency (CYBT & ETH) for cash through the wallet by looking for their nearest store facilitating these transactions.

The Merchant Gateway; the gateway solution will aim to partner with merchants in accepting Ceybit token as a payment option in order to simplify and improve the existing payment processor framework.

These platforms will fuel the Ceybit Tokens (CYBT) and its economy. Our goal is to drive the value of Ceybits overtime by providing it with a number of functions and utility. The token will be essential to all three solutions, allowing it and our technologies to grow and increase in value together simultaneously.





WHY C Ξ Y B I T IS SIGNIFICANT

 
Exchanges are rapidly growing around the world facilitating the sudden global demand and popularity of cryptocurrency. It is predicted by economists that exchanges will play a major role and be at the forefront of the internet of value.

User-friendly, complaint, secure exchanges are the future of modern finance. With society becoming more educated about the benefits of the blockchain technology and cryptocurrency coupled with the growth of the ICO markets, there is a clear global demand for exchanges.
 
There are shortages of exchanges; especially when you factor in the regulatory requirement. We recognize that quality exchanges are scarce but the need is enormous and that is the issue we are aiming to resolve.

According to Paul Domjan, global head of research and data at Exotic (leading investment banks of the developing countries) cryptocurrency is predicted to make the biggest impact on the middle income and developing countries. Issues such as inflation, currency volatility, high transaction costs, limited access to secure banking, capital controls, taxes and government instability has lead the people in developing nations turning towards cryptocurrency as a safe asset.
 
Countries such as Nigeria, Venezuela, Argentina, India and Mexico have been quick to accept and utilize Bitcoin and other cryptocurrency. The blockchain is allowing these countries to skip a few steps ahead, limit financial fraud and get access to safe and modern banking solutions. Currently fiat exchanges are acting as the gatekeepers to mass cryptocurrency adoption.






BUYING BACK CYBT IN REALTIME


Ceybit will the world’s first cryptocurrency exchange that will buy back its native token (CYBT) in real time. CYBT will be the world's first token whose value is directly related to the number of transactions in the Ceybit Exchange. Every time a transaction takes place on the Ceybit Exchange, a proportion of the fees collected will be used to place a limit buy order and a market order in the corresponding CYBT market in which the fees were collected. This implementation will make CYBT one of a kind, in terms of utility and value.

The CYBTs bought back by the exchange will be partly redistributed (to traders, holders and the foundation) and partly burned. Ceybit is creating a new token model by linking CYBT price to its utility and exchange transaction velocity.
 



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 one of the first exchanges 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.

TOKEN VALUE PROPOSITION



JOIN US WITH OUR PROMISE TO MAXIMIZE TOKEN HOLDER VALUE WITH REAL ECONOMIC ACTIVITY AND DEMAND FOR CRYPTOCURRENCY WHERE IT IS NEEDED THE MOST.



Our Advisors Include: A former director from the Central Bank of Sri Lanka. A UI/UX Manager from Accenture and a former Exchange Systems Architect from DirectFN (MENA's largest financial data market providers).

We are actively working on Partnerships which will be announced on our channels.


Lets continue our engagement, join our channels.

Bounty program information will be posted on telegram.



Registrations for token sale opens on 11.06.2018.
For Private Sale enquiries contact: tokens@ceybit.net

STAY TUNED!🚀🚀🚀
 
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1nfus1on
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May 27, 2018, 09:30:15 AM
 #2

Nice website, seems like a good project (exchanges usually do well)

Is it really Sri Lanka's first?  Cool
ceybit
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May 27, 2018, 09:38:40 AM
 #3

Yes, it is!

There is a big demand to obtain cryptocurrency in the country, but there are no exchanges. A lot people trade their crypto on facebook groups, and localbitcoins.com

There are lots of trading happening through private channels. 

We identified this gap, and building its first exchange. We anticipate a high demand of users Smiley

Henry18JJ
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May 27, 2018, 09:44:07 AM
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How many tokens?
1nfus1on
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May 27, 2018, 09:44:34 AM
 #5

Cool, do you guys have a prototype?

 Smiley
ceybit
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May 27, 2018, 09:46:54 AM
 #6

How many tokens?

There will 2.1 billion tokens with 987 million available for the public (47%).

We will be buying back these tokens from token holders on the exchange using transaction fees. Being the first exchange we anticipate high demand and usage, which means we will be making high fees to buyback.

 Smiley
ceybit
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May 27, 2018, 09:54:24 AM
 #7

Cool, do you guys have a prototype?

 Smiley

Yes, we are working on it. Scheduled for release in late July/Early August.

We are opening private sales now and working towards creating a community.

We are in talk with some venture capital funds.

Public is also welcome to participate in the private sales, but preference will be given to strategic partners.
Not many ICO's offer private sales to public, we are wanting to even the benefits out.

1nfus1on
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May 27, 2018, 10:00:38 AM
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Who are these venture funds?
ceybit
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May 27, 2018, 10:10:14 AM
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Who are these venture funds?

We cannot disclose that information just yet, please join our telegram and we will make announcements.  Smiley
mr.Belyavski
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May 27, 2018, 10:16:23 AM
 #10

On which m exchanges is your coin traded? How to buy it? And if there is still no where and when do you plan to fill a coin? And what are the estimated dates?

SOVREN  ─────  Trade. Pay. Borrow. Play.
Blockchain Innovation for Securities Markets
          [  https://sovren.app/  ]
Xavier 95L
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May 27, 2018, 10:18:28 AM
 #11

Do you guys do bounty programs?
ceybit
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May 27, 2018, 10:26:01 AM
 #12

On which m exchanges is your coin traded? How to buy it? And if there is still no where and when do you plan to fill a coin? And what are the estimated dates?


Our token contract will be launched on the 11th of June. (Participants can register for token sale on website)

The token will be transferable 2 months after Pre-ICO begins. At this point we will be contacting exchanges (mostly decentralised ones).

Our token sale will continue until all tokens are sold (it might be the case that ICO is still happening, but tokens are transferable, it is designed this way since we are a long term project)

It will be listed mainly on our exchange (Ceybit Exchange) when we launch Mid Q4 this year.

Join us on telegram we will be announcing key dates and bounties  Smiley

https://t.me/joinchat/Hoftaw6q443zTZr6gNpTmA








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May 27, 2018, 10:33:05 AM
 #13

Well, I have glanced at your web, white paper and some of your media channels. I think that you have spent a lot of time preparing all of them.Also, I learnt that you are planning to bridge the gap between crypto trading/ exchanges with traditional ones. So, tell me, what's your advantages? and have you considered legal matters in Sri Lanka?
Additionally, you said that Sri-Lanka needs a Safe Asset to hedge against the Rupee because of high debt, inflation, China's influences...etc. My question is, how can you prove your future investors in some lines?
My last question, when will you officially release MVP as you said in late Q2?
Regards

P/S: Reserving Vietnamese translation if you need
ceybit
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May 27, 2018, 10:35:10 AM
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Do you guys do bounty programs?

Yes we will!  Smiley

It is important for us to create a large community, these efforts from our members will be rewarded!

Please join telegram, we will be posting information there!

You can earn upto USD 5 worth of CYBT per tweet! (still in the works Smiley)

https://t.me/joinchat/Hoftaw6q443zTZr6gNpTmA
ceybit
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May 27, 2018, 10:59:09 AM
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Well, I have glanced at your web, white paper and some of your media channels. I think that you have spent a lot of time preparing all of them.Also, I learnt that you are planning to bridge the gap between crypto trading/ exchanges with traditional ones. So, tell me, what's your advantages? and have you considered legal matters in Sri Lanka?
Additionally, you said that Sri-Lanka needs a Safe Asset to hedge against the Rupee because of high debt, inflation, China's influences...etc. My question is, how can you prove your future investors in some lines?
My last question, when will you officially release MVP as you said in late Q2?
Regards

P/S: Reserving Vietnamese translation if you need

Great questions!

Yes, we have been working on our papers and research for a long time considering all areas and issues.

Advantages and regulations:

Well we are the first exchange (fiat and crypto) in the country; wherever an exchange has operated first it is almost guaranteed to perform well.
Particularly fiat to crypto exchanges.

We will be partnering (announcements will follow) up with select businesses and individuals (tellers) that will help people without bank accounts purchase our tokens Ceybits (CYBT) and ETH with cash.
This will be extended to our mobile app early Q1 next year.

We are aiming to have educational meetups to help people understand and use crypto here. For some it is still a hard concept to grasp (which is why we are crating the user growth pool as an incentive to attract users).
We are already in the talk to create Sri Lanka's own Blockchain Centre for events and meetups to help grow the industry here.
Our founder is scheduled to speak at a local blockchain conference next month.

We are also working with advisors who were former directors at the Central Bank of Sri Lanka. These advisors are assisting us with compliance and regulatory issues.
Currently there are no regulations in the country in relation to cryptocurrencies. However, we are informed to know that regulations will be enacted. Our exchange is being built with these regulations in mind.
Our funding targets considers the requirements of licenses to operate. We intend to lead the country with our standards and work with the central bank to enact the right protocols for exchanges.


Potential users of the exchange were done through local insights, and general market research;
Here are some facebook groups where there are active users trading bitcoin in person:

https://www.facebook.com/Bitcoin-Buy-Sale-Srilanka-904238269658222/ (2800+ users)
https://www.facebook.com/BitLanka/ (1200+ users)

We anticipate these users to join our exchange to trade.

We are on track with our MVP, scheduled for launch in July.  Smiley




 
1nfus1on
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May 27, 2018, 12:38:35 PM
 #16

I finished looking through the whitepaper; it's definitely well constructed. 

I think the mobile wallet is pretty good!
Maybe one of the best wallets out there, if you guys can get it deployed! Even the cash trade function look like a really great idea  Smiley

I am looking for more information regarding why it might be appealing to the locals?
ceybit
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May 27, 2018, 03:16:04 PM
 #17

I finished looking through the whitepaper; it's definitely well constructed.  

I think the mobile wallet is pretty good!
Maybe one of the best wallets out there, if you guys can get it deployed! Even the cash trade function look like a really great idea  Smiley

I am looking for more information regarding why it might be appealing to the locals?


Thanks for your support and input!

The mobile wallet and our platforms are not restricted to Sri Lanka, we aim to add support for multiple currencies such as NEO, BAT, GNT and a few others which could be bought for cash in wallet.
Its another way to create a decentralized trading platform.

CYBT will appeal to locals mostly due to its consistent growth in value supported by our buyback model. It is designed to be an alternative currency to the local rupee (which is depreciating heavily).
CYBT is aiming to be the preferred digital asset of choice in Sri Lanka over both Bitcoin and Ethereum.
1nfus1on
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May 27, 2018, 07:08:59 PM
 #18

I finished looking through the whitepaper; it's definitely well constructed.  

I think the mobile wallet is pretty good!
Maybe one of the best wallets out there, if you guys can get it deployed! Even the cash trade function look like a really great idea  Smiley

I am looking for more information regarding why it might be appealing to the locals?


Thanks for your support and input!

The mobile wallet and our platforms are not restricted to Sri Lanka, we aim to add support for multiple currencies such as NEO, BAT, GNT and a few others which could be bought for cash in wallet.
Its another way to create a decentralized trading platform.

CYBT will appeal to locals mostly due to its consistent growth in value supported by our buyback model. It is designed to be an alternative currency to the local rupee (which is depreciating heavily).
CYBT is aiming to be the preferred digital asset of choice in Sri Lanka over both Bitcoin and Ethereum.

That's really cool.

Let's say the project becomes a success, then with your buyback model wouldn't the price of CYBT technically only go up. Wouldn't CYBT at some point become expensive for locals to buy?
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May 27, 2018, 11:03:29 PM
 #19

it's very interesting what will come of it. because now there are so many different exchanges. Does the project have a strong team? Is it known?
ceybit
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May 28, 2018, 07:12:29 AM
 #20

it's very interesting what will come of it. because now there are so many different exchanges. Does the project have a strong team? Is it known?

Yes indeed it is. Exchanges are future of financial services. We at Ceybit recognise this. Hence we are creating the first one ever in Sri Lanka.
Many exchanges that are popping up are simply providing exchange services. We are building one with a token designed to give back to token holders and exchange users in a variety of ways.

The Ceybit token (CYBT) is designed to maximize value for token holders by reinvesting our transaction fees into buying back CYBT.
This engine is designed to sustain the Ceybit network and ecosystem of users. Our products will extend to the mobile wallet (which has a unique map helping people buy crypto for cash between themselves) and a merchant gateway (extending exchange services).

Together we are not simply an exchange, but a wallet provider and a gateway. (essentially banking services, but we are not calling ourselves a bank). 

Here's a small depiction of our token value model:
http://ceybit.net/pdf/C%CE%9EYBIT%20Value%20Proposition.pdf

Users on our exchange and token holders will be rewarded for participation in CYBT every month.


Team

Our founder has been involved in cryptocurrency since 2011. He is an experienced trader and investor. He understands comprehensively all aspects of token valuations, metrics and utility. He is defining Ceybit and CYBT using all these experiences.

He plays an active role in the design of the exchange since he has been a trader since 2013. He does have high standards, and performance and security of the exchange is a key area he focuses on.


The development team has worked for large international firms. Notably, our Lead Solutions Architect has worked on Sri Lanka's backbone for online payments and settlement infrastructure; which is now a part of the Central Bank. He has deployed quite a bit of e-commerce gateway integrations as well. He will be a key player in the development of the exchange.


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