Token Information & Economics
Token Name: Nyzo
Total Supply: 100,000,000
Circulating Supply: 7,989,548 (Tue Jul 30 21:45:02 2019 UTC, http://nyzo.xyz/supply)
Native Token on VITE?: NO
- Token Allocation:
20,000,000 distributed via seed account (see https://nyzo.co/whitePaper)
30,507,419 to be distributed via a cycle-controlled account (75% threshold) (https://nyzo.co/buildingNyzo)
47,000,000 to be unlocked via organic transaction volume (see https://nyzo.co/buildingNyzo)
2,492,581 distributed so far via other means (bounties, airdrops)
- Please provide a list of team wallets that hold your token.
Details in genesis block: https://nyzo.co/block/1 (truncated for brevity)
- Please provide all lockups in place for any holders of the token.
As described in https://nyzo.co/buildingNyzo
- Are you compliant in all jurisdictions that you service and operate in?
Nyzo is not considered a token, but the development team is actively soliciting legal guidance on this issue.
Please provide a detailed token migration plan. What mechanism will you be using? N/A
What is the exact timeline of opening the swap/bridge to the public? Will you be able to complete this prior to the end of the voting period? If yes, please provide evidence that it the swap/bridge is ready or close to being ready. N/A
If your tokens currently still sit in only 1-5 addresses, please provide the timing of when they will be fully allocated to users. N/A
Project Name: Nyzo
Project Website: https://nyzo.co
White Paper: https://nyzo.co/whitePaper
Roadmap: None currently, see https://nyzo.co/buildingNyzo and release notes for more information
Link to your asset page on Vite network
A one-sentence pitch about your Project Nyzo is a new blockchain built from the ground up using a new kind of consensus that uses neither proof of stake or proof of work, but is based on organic participation (proof of diversity).
What are you planning to achieve with your project? Nyzo was developed from the ground up to explore blockchain technology in an approachable, accessible manner. The source is simple and easy to read. The design of the blockchain and mesh are also simple and clearly explained in the white paper. Instead of layering complex fixes on top of a flawed design or adding elaborate features, we focused on the foundational technology of the blockchain to build a system that just works. Nyzo is also exceptionally flexible and extensible — the sender data field of Nyzo transactions allows for virtually unlimited possibilities for applications that utilize the Nyzo blockchain — but this flexibility is not obtained at the cost of reliability or stability.
What is the team size now? The development team is publicly represented by one individual, @nyzo, but is comprised of several members around the world that have chosen to remain anonymous. The community engages in considerable development of projects based on Nyzo.
As far as I am aware, there are no significant conflicts of interest.
- Where are you right now in your roadmap?
The blockchain was launched on September 15th, 2018, and has been operating since.
- What is the business model of the Project?
Development is entirely self-funded, and all the official Nyzo developers are engaged part-time with real-life jobs.
- What is the potential user base and market opportunity?
Nyzo seeks to capture organic transaction volume as people use the chain for useful services.
- What are the technological innovations of the project, if there are any?
Nyzo uses a collaborative verification system that requires neither proof of work nor proof of stake. The focus is on compact blockchain sizes, fast transactions, strong consensus mechanisms, security, and intrinsic fork resistance. Nevertheless, transaction volumes in excess of 1000 tps have been demonstrated on the mainnet.
- Where are your code repositories located?
- Do you have any products or UI demos can you share publicly? Are any built by your community, as opposed to being in-house demos?
- Do you plan to release weekly progress updates in this forum?
As the opportunity arises.
- Do you plan to host monthly or bi-monthly video AMAs?
As the opportunity arises.
- Did you conduct any type of fundraising? When was it?
- How much in total did you raise?
- How much have you spent in total thus far? What have you spent these funds on?
- How much runway does your project require to ship the final product?
- What currency/coin/token do you plan to hold your funds in?
- What’s your coin storage/conversion policy? Do you only convert to fiat when you spend?
- How do you plan to publish your spending each month?
- Where are your funds stored? Please provide the addresses for public community tracking.
- Who do you view as your current competitors/peers?
All blockchains that explore new proof mechanisms.
- What is your project’s competitive advantage over existing or potential future solutions?
We believe that the proof mechanism implemented in Nyzo is superior to other proofs as a function of appropriate economic incentives, environmental sustainability, and performance.