Token Economy

The YEDGE Token

The Yotta Laboratories Network will issue its own token, called a “YEDGE Token”, as a medium of exchange (payment) for its participants. A YEDGE Token will be a utility token used to transfer value among YEDGE Network participants. The token will be compliant with the ERC20 token standards.

Businesses with a demand for edge cloud content delivery services will primarily be the buyers of YEDGE Tokens. Initially, a single YEDGE Token will represent 5 GB of data transfer, wherein owners of DApps or applications will use it to exercise content delivery services. The exchange rate between a YEDGE Token and the amount of data transferred is to be pegged only during the Initial Coin Offering (ICO). In order to facilitate forecasting of expenditures for our customers, in the future YEDGE services (data transfer pricing) will also be denominated in fiat currency. Customers will know exactly how much they’re paying in fiat at all times, even as the USD/YEDGE exchange rate fluctuates.

YEDGE tokens are used for:

Value transfer from customers to node

YEDGE is the sole currency within the system that is being transferred from its customers (content hosting applications) onto its nodes that deliver that content for them.

Network governance

Monetary incentives will help ensure that network’s participants are inclined to act in the most beneficial way to the network.

YEDGE token features:

Natural scarcity

The available YEDGE Token supply will decrease as demand for YEDGE services increase. In order to employ the YEDGE Node network, customers will have to purchase a certain amount of YEDGE Tokens (expressed in fiat denomination). For example, say they purchase enough YEDGE Tokens to last a month. The YEDGE Tokens will now be held in their personal YEDGE Wallet, pending disbursement; these tokens will now be excluded from the remaining total available supply.

Delay in payments

As every transfer of value on a blockchain is associated with a transaction fee, a certain time delay between distributing awards, during which time awards can accumulate and hence be ultimately transferred to Nodes with lower transaction costs, will be instated. Since Nodes will be providing a continuous service, they will be technically earning rewards continuously as well. But issuing payment continuously would incur unnecessary transaction fees. Therefore, to minimize transaction fees while maximizing net Node payout rewards, we will be implementing modest delays in issuing rewards in order to decrease transaction costs while increasing net Node payout.

YEDGE Wallet Account

Since YEDGE Tokens are ERC20 compatible, an Ethereum Wallet address is fully suitable to act as a YEDGE account, and therefore sufficient to launch a CSL Worker Node. Every CSL Worker Node Client will carry an implementation for a YEDGE Wallet, and be capable of receiving YEDGE Tokens (transferred between accounts or as rewards for participating in the YEDGE Network); creating your unique address (account); and usual Ethereum Wallet features; such as transferring tokens between addresses; and backup/ recovery of the wallet.

Since an Ethereum address will be constituting the basis of a YEDGE account, all accounts will be automatically transparent and anonymous. Furthermore, YEDGE will feature an additional proprietary application layer for people to create a cloud-based account; add their YEDGE accounts to it; and have additional features such as monitoring or email alerts, much as typical cryptocurrency mining pools.