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1. What is Nexy Zero(NXZ)?

The Nexybit Exchange introduces Nexy Zero(NXZ) to facilitate active trading across all crypto-markets. The newly issued NXZ Token is minable through the ETH and TUSD markets. NXZ is specifically designed to help stabilize NXY's token economy through the "Buyback Fund".

2. NXZ Token Model

This token model is designed for continuous growth through massive buybacks and token-burns. The new NXZ token model is architected to ensure both a stable token economy and while also maintaining a higher airdrop rate for holders.

2.1 Token Economy Stabilization

The token economy will be stabilized through buybacks and token-burning of currently circulating tokens through the "Buyback Fund" (50% of the commission income) and the "Strategic Buyback Fund” (other income).

2.2 High Airdrop Rates

NXZ does not have pre-mining supply or team-reserved supply. As the amount of NXZ to be distributed from the beginning is extremely limited the airdrop rate starts very high. Also, the amount of airdrops per NXZ will also be sustained, as the circulating supply will be aggressively decreased through continuous large-scale buybacks.

2.3 NexyZero(NXZ) Mining Rule

Nexybit mining is processed on a daily basis.

 

Each day has a fixed number of NexyZero(NXZ) that is minable. Each user is rewarded with NexyZero(NXZ) based on the exchange’s daily revenue contribution.

 

The mined NexyZero(NXZ) will be paid based on the trading contribution of each trader to the total trading revenue based on 24 hours a day ago
(
3:00PM ~ 2:59PM, UTC).

 

Daily Total NexyZero(NXZ) Mining Quantity

Total NexyZero(NXZ) mining quantity / 1,000 days = 1,000,000 NXZ

 

Daily NexyZero(NXZ) Mined Quantity Per Account

Daily total NexyZero(NXZ) mined quantity * Contribution rate per account
(8 digit truncation)

 

Contribution Rate Per Account

Daily trading fee per account / Daily total trading fee (calculated based on USD standard price)

2.4 NexyZero(NXZ) Airdrop Rule

Nexybit daily airdrop is processed on a daily basis.

 

10% of the daily revenue is distributed as daily airdrops to NexyZero(NXZ) holders depending on the percentage they hold.

 

The number of NexyZero(NXZ) held by each user (average balance per account) is calculated as an average of 24 hours after taking a snapshot every hour. The airdrops are paid as BTC, USDT, ETH, and TUSD.

 

The Minimum Daily Airdrop Criteria

 - BTC : 0.00001 BTC

 - USDT : 0.1 USDT

 - ETH : 0.0001 ETH

 - TUSD : 0.1 TUSD

 

Total Airdrops

Total exchange revenue * Total airdrop rate(60%)

 

NexyZero(NXZ) Average Balance Per Account

Calculated as 24-hour average balance after taking a snapshot every hour

 

Airdrop Rate Per Account

NexyZero(NXZ) average balance per account / Total NexyZero(NXZ) average balance

 

Airdrop Per Account

Total airdrop * Airdrop rate per account

3. NXZ Tokenomics

NXZ is a mining token which applies a novel tokenomics model. Similarly to the NXY tokenomics, there are three major parties involved in this economy; miners(liquidity providers), long-term holders(maximize airdrops), organic traders. Initially, the exchange liquidity is provided through the miners and long-term holders. The long-term goal of the exchange is to increase organic traders and their volume based off of the interactions between the miners and long-term holders.

3.1 Issuance

1 million NXZs are issued through a uniform price auction based on trading volume contribution to the exchange for 1,000 days (approx. 2.7 years).

  • Total Supply: 1b NXZ

  • Daily Issuance: 1m NXZ

  • Distribution Logic: Daily uniform price auction based on trading volume

Daily Issued NXZ x Trading Volume Contribution Percentage = Mined Tokens
EG) 1,000,000 NXZ x 30% = 300,000 NXZ

3.2 Token Structure

The token structure is intentionally simple in order to maximize the returns to the miners and holders fairly.

  • Mining: 98%

  • Marketing: 2%

* The usage of NXZ for marketing will be transparently announced

NXZ does not have pre-mining supply or team-reserved supply. As the amount of NXZ to be distributed from the beginning is extremely limited the airdrop rate starts very high. Also, the amount of airdrops per NXZ will also be sustained, as the circulating supply will be aggressively decreased through continuous large-scale buybacks.

3.3 Revenue Distribution

Revenue created on the Zero markets are used in pre-defined distribution table.

  • NXZ Buyback and Burn: 50%

  • NXZ Holder Daily Airdrop: 10%

  • NXY Buyback and Burn: 10%

  • Operations: 30%

The NXZ revenue distribution model is unique in its buyback strategy. The buyback fund will be used to aggressively reduce the circulating supply of NXZ tokens and hence stabilize prices and increase airdrop rates. Buybacks will occur systematically according to an internal algorithm aimed to maximize the stability of the NXZ economy.

Revenue of the Nexybit Exchange is denominated in the quote token.

* Assuming miners fully mine the token, NXZ holders on the first day of airdrops get back a maximum of 10% of the cost for purchasing the token.

* Part of the Exchange Operation Fees can be transferred to the Buyback Fund. All buyback transactions will be transparently shown to the public.

Terms and Conditions

Token terms and conditions are can change at the discretion of the issuer without prior notice.

*Disclaimer

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