The IQ token is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) dedicated to the future of knowledge. The IQ token powers [IQ.wiki](https://iq.wiki/wiki/iqwiki), the world's largest cryptocurrency encyclopedia. The IQ token is both a governance and DeFi token with IQ stakers governing the platform and earning rewards. The token is managed by [BrainDAO](https://iq.wiki/wiki/braindao) and backed by BrainDAO's treasury of IQ tokens, [stablecoins](https://iq.wiki/wiki/stablecoin), blue chip [NFTs](https://iq.wiki/wiki/non-fungible-token-nft), and other digital assets. [\[29\]](#cite-id-v44xvtrng6g)  
  
## IQ.wiki  
  
The IQ token is integral to [IQ.wiki](https://iq.wiki/wiki/iqwiki). IQ token holders who stake their tokens with the HiIQ staking system, vote on governance decisions involving both the platform and the IQ token itself. IQ token stakers also earn IQ token rewards from staking their tokens with HiIQ and for contributing to the IQ.wiki platform.  
  
After the beta period, IQ.wiki plans on introducing HiIQ Brain Pass NFTs for IQ stakers which will provide several benefits including the ability to edit on IQ.wiki. Users will also be able to acquire the NFTs by purchasing them with IQ tokens. ![iq.wiki-launch-image.png](https://ipfs.everipedia.org/ipfs/Qmeuj5aHib3xVVvwVjcZ24tR6r1HzPTiHTQPMFsTr5cwy7)  
  
## BrainDAO  
  
The IQ token is managed by [BrainDAO](https://iq.wiki/wiki/braindao) which is governed by IQ stakers. The value of the IQ token is also backed by BrainDAO's treasury of IQ tokens, stablecoins, blue chip NFTs, and other digital assets. BrainDAO's portfolio of [Ethereum](https://iq.wiki/wiki/ethereum), IQ tokens, [stablecoins](https://iq.wiki/wiki/stablecoin), blue chip [NFTs](https://iq.wiki/wiki/non-fungible-token-nft), and other digital assets back the value of the IQ token. By September 2022, the BrainDAO treasury amassed over $2 million in wrapped ethereum and over $5 million in total assets. The BrainDAO treasury is fully governed by IQ token stakers. The treasury accumulated ETH over time through [Olympus](https://iq.wiki/wiki/olympus-dao) Pro bonds. The BrainDAO treasury has also accumulated [FRAX](https://iq.wiki/wiki/frax-finance) stablecoins through the Time-Weighted Average Market Maker (TWAMM) on Fraxswap. [\[17\]](#cite-id-rgsj06zfo8c)  
  
## Liquidity  
  
### Centralized Exchanges  
  
The IQ token was listed on the world's largest cryptocurrency exchange, [Binance](https://iq.wiki/wiki/binance), in June of 2020. The IQ token is also listed on [Crypto.com](https://iq.wiki/wiki/cryptocom) and [Upbit](https://iq.wiki/wiki/upbit), South Korea's largest cryptocurrency exchange. [\[23\]](#cite-id-hjtznf7yytg) [\[24\]](#cite-id-8zijyz466wb) [\[25\]](#cite-id-lwxw9tub2w) [\[26\]](#cite-id-4j4ognpk17o) [\[22\]](#cite-id-tbhv4qw390q)  
  
### Fraxswap  
  
In September of 2022, the IQ token was listed with an IQ-FRAX pair on Fraxswap, the first constant product [automated market maker](https://iq.wiki/wiki/automated-market-maker) with an embedded time-weighted average market maker (TWAMM) Fraxswap is the first constant product automated market maker with an embedded time-weighted average market maker (TWAMM). The IQ-FRAX pool is incentivized with IQ token rewards and FXS rewards for IQ-FRAX liquidity providers. [\[27\]](#cite-id-m84mjjn0uar) [\[28\]](#cite-id-87ndafzypxt)  
  
![iq-fraxswap.png](https://ipfs.everipedia.org/ipfs/QmY1vxwXrhT8yEiq9DgK4usA8HV5pPrMjMvBK1o28DZTPP)  
  
## HiIQ  
  
HiIQ launched on August 4, 2021, and was created to incentivize IQ holders to become long-term holders who stake and lock up their IQ tokens. The HiIQ staking system allows IQ holders to choose how long they want to lock up their IQ for in addition to the number of IQ tokens they would like to stake. The greater the amount of IQ locked and the greater the length of time the tokens are locked the greater the HiIQ balance of the staker. The greater the HiIQ balance the greater the amount of IQ token rewards a staker will receive and the greater the voting power they will have on governance votes. In addition to IQ token rewards, HiIQ stakers also have the ability to participate in NFT raffles. [\[18\]](#cite-id-mu4iissneli)  
  
As of October 2022, HiIQ stakers have earned over 400 million IQ tokens. By March 2022, IQ holders had staked a record 1.5 billion HiIQ, with the majority of stakers locking up their tokens for over 3.5 years. IQ holders have staked more than 454 million IQ tokens with HiIQ.  [\[19\]](#cite-id-2qp68l1ed88)  
  
![1billionstaked-blankwall.png](https://ipfs.everipedia.org/ipfs/QmaLhzqdAVrKjUe4Hx2pjcLYQDQMvJYQ6m9svFwdX4z4J2)  
  
### Technical Background  
  
HiIQ is a vesting and yield system based off of Curve’s veCRV mechanism. Users may lock up their IQ for up to 4 years for four times the amount of HiIQ (e.g. 100 IQ locked for 4 years returns 400 HiIQ). HiIQ is not a transferable token nor does it trade on liquid markets. It is more akin to an account-based point system that signifies the vesting duration of the wallet's locked IQ tokens within the protocol. The HiIQ balance linearly decreases as tokens approach their lock expiry, approaching 1 HiIQ per 1 IQ at zero lock time remaining. This design encourages long-term staking and an active community. Sushiswap has proposed a similar implementation with their recently announced oSushi token. A sample graph (Curve’s veCRV) illustrating the decrease can be found at this address.  
  
### NFT Raffles  
  
HiIQ NFT raffles are powered by [Chainlink](https://iq.wiki/wiki/chainlink) Verifiable Random Function (VRF) on Polygon for HiIQ stakers, ensuring that winners are quickly and randomly chosen in a provably fair manner. IQ holders who stake their IQ with HiIQ will have the chance to get limited edition NFTs in addition to IQ token rewards for staking. Every HiIQ token a user holds acts as a raffle ticket which means that the more HiIQ token they have, the higher chances they have to win the NFT raffle.  
  
The first NFT raffle included 15 NFTs from the Juicy J’s Journey collection which was created by the Academy Award-winning and Grammy Award-nominated hip hop artist Juicy J in collaboration with Everipedia. In February 2022, IQ.wiki (known as Everipedia at the time) and Zipcy’s SuperNomal raffled off 15 Zipcy’s SuperNormal NFTs to HiIQ stakers using Chainlink VRF on Polygon to celebrate Korean Seollal and Chinese New Year. In July of 2022, IQ.wiki held the largest [ENS](https://iq.wiki/wiki/ens) raffle, raffling off 100 of 100k Club ENS to HiIQ stakers. By September of 2022, the floor price of the NFTs had doubled from 0.02 ETH to over 0.04 ETH. [\[20\]](#cite-id-0hyp4jm3gyl7) [\[21\]](#cite-id-4539vivnmx7)  
  
## Tokenomics  
  
### IQIP-14: New IQ Tokenomics for the New IQ.wiki Platform  
  
On October 11, 2022, a proposal IQIP-14: New IQ Tokenomics for IQ.wiki went up for voting. The proposal involved setting up new tokenomics for the IQ token. The proposal involved moving to a halvening model for the IQ token like Bitcoin and FXS which provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability. The vote passed with over 750 million HiIQ voting in favor of the proposal. [\[30\]](#cite-id-i4x0yfw41hq)  
  
On November 1, 2022, the [BrainDAO](https://iq.wiki/wiki/braindao) team implemented the proposal in the largest update to the IQ tokenomics since the launch of the IQ token in 2018.  
  
### Maximum Supply  
  
In June of 2021, the maximum supply of IQ was permanently hard-capped at 21 billion IQ tokens to minimize the risk of dilution and to bring the IQ token in line with Bitcoin's maximum supply cap of 21 million tokens.  
  
## Origins  
  
### Airdrop and Initial Distribution  
  
In 2018, the IQ token launched and the Everipedia encyclopedia moved onto the blockchain. On July 12, 2018, Everipedia airdropped 51% of the IQ token supply to EOS holders. Everipedia Co-Founder and CTO Travis Moore explained that by doing an airdrop Everipedia would ensure the widest possible distribution of IQ tokens with every EOS holder receiving tokens.[\[16\]](#cite-id-4byw438o0tt)  
  
> "The airdrop will play a significant role in helping Everipedia accomplish as wide of a distribution as possible for IQ tokens."  
  
\~3.5% of the tokens marked for the airdrop were not airdropped since those tokens were held by exchanges that did not support the airdrop. These tokens were instead re-invested into the Everipedia ecosystem through the IQ Fund. [\[31\]](#cite-id-pajfo93ffos)  
  
About 15.7% of the supply was locked up for founders and early backers. These tokens vested throughout a period that began on May 4th, 2020 and ended on May 4th, 2022.   
  
10% of the initial supply was held by the company, as a treasury. The company treasury has been used for partnerships, development, and other ecosystem and IQ growth initiatives. The original account for the team treasury was ytehekdmilty.   
  
About 14.7% of the initial supply was held by EOS VC. Almost exactly 5% of the initial supply was held by the IQ Fund. A fund of tokens we have committed to using/investing to support developers and projects looking to build IQ token related products and DeFi dApps. The IQ Fund’s tokens might be sold periodically for stablecoin equivalents to keep the fund rebalanced and in good standing. The initial account for the IQ Fund was everipediavc. 

The IQ token is a cryptocurrency dedicated to the future of knowledge. The IQ token powers IQ.wiki.

IQ token

Released on March 17, 2022, ApeCoin is an ERC-20 native token of the APE ecosystem, a popularly adopted project launched by Yuga Labs. The token launched on the Ethereum blockchain and initially served as a reward for the holders of the [Bored Ape Yacht Club](https://iq.wiki/wiki/bored-ape-yacht-club#apecoin-7) (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs.[\[1\]](#cite-id-crv8ihxwcmc) 
 
 
 
$$widget0 [YOUTUBE@VID](B1i71aJk0Cs)$$ 
 
# **Overview** 
 
ApeCoin was introduced to empower Yuga Lab in the decentralized ecosystem. It is also set to become a leading currency in the metaverse economy. The [ERC-20 ](https://iq.wiki/wiki/erc-20)governance and utility token allow ApeCoin holders to participate in ecosystem governance through the ApeCoin DAO, facilitate transactions, and enable token holders to share without requiring any central authority.[\[2\]](#cite-id-usue4vbfki)[\[3\]](#cite-id-6y4d820su4j) 
 
The token operates as the open-source protocol layer, offering holders incentives and other benefits. Built on the Ethereum blockchain, it employs the [Proof-of-Work](https://iq.wiki/wiki/proof-of-stake) consensus mechanism for validation and security.[\[4\]](#cite-id-yhx2z1wxj7) 
 
# **History** 
 
Following the wide adoption of the BAYC by NFTs investors and celebrities and the introduction of MAYC, the founder of this project introduced ApeCoin to reward the ecosystem. Hence, when ApeCoin was released, it was distributed to NFTs holders through a claimable airdrop. 
ApeCoin started trading on March 17, 2022 after the distribution and reached a higher trading volume and a price peak of above $39 in 24 hours 
 
Yuga Lab introduced ApeCoin after it acquired the CryptoPunk [NFT](https://iq.wiki/wiki/non-fungible-token-nft). Afterward, ApeCoin becomes a multipurpose token in the ecosystem and metaverse. ApeCoin was useful in other ecosystems like the Benji Bananas introduced by Animoca Brand and become a forefront currency in [web3 ](https://iq.wiki/wiki/web3)and metaverse.[\[5\]](#cite-id-q68tnmd96b8) [\[6\]](#cite-id-0o0sqtfgv04) [\[7\]](#cite-id-t535q47wzs) [\[8\]](#cite-id-sdawhr3xrv) 
 
# **Utility** 
 
**Governance:** ApeCoin allows token holders to participate in decision-making through the ApeCoin DAO. 
 
**Unification of Spend:** After the launch of ApeCoin, the token becomes a unified currency giving every member an open and shared currency to facilitate transactions.[\[1\]](#cite-id-crv8ihxwcmc) 
 
**Access:** ApeCoin grants holders exclusive access to merch, games, events and other services in the ecosystem.[\[1\]](#cite-id-crv8ihxwcmc) 
 
**Incentivization**: ApeCoin is a ready tool allowing third-party developers to participate in the ecosystem once they incorporate the token into games, projects or other services.[\[1\]](#cite-id-crv8ihxwcmc) 
ApeCoin was accepted as a payment in several platforms including Gucci 
Aside from the above use cases, ApeCoin is used to stake and participate in any of the four staking pools in the APE ecosystem. It was also used for the payment for land sales in Yuga Lab metaverse projects. [\[9\]](#cite-id-rfcclos50u) 
 
# **ApeCoin DAO** 
 
Yuga Labs acknowledged the need for decentralized governance for a true cryptocurrency. Hence, it introduced the ApeCoin DAO to provide the token holders with this critical governance power. 
By holding ApeCoin, you automatically qualify to become a DAO member. ApeCoin DAO is responsible for governing the activities regarding the token, including issues like using treasury funds, voting for or against any proposals, use of ecosystem intellectual property, and other suggested projects related to the coin.[\[10\]](#cite-id-y17oig5p4q) 
The APE “Improvement Proposal Process” allows DAO members to decide on more things like Fund allocations, projects, and governance rules. [\[11\]](#cite-id-ypesn964po8) 
 
* **ApeCoin DAO decides that the coin stays on the Ethereum blockchain** 
 
Yuga Labs revealed that users paid over $177 million for gas fees and eventually clogged up the Ethereum network during the Otherside Land Minting. For this reason, the company announced on April 30 that ApeCoin needs to move to its blockchain. Avalanche offered the community a subnet with high speed and low gas fees. 
The ApeCoin DAO and Yuga Labs were left with deciding whether to move to the new blockchain or stay on Ethereum. The DAO eventually voted to remain on Ethereum Blockchain. [\[12\]](#cite-id-tg31w8rn3f8) 
 
# **The Board** 
 
To enhance the decentralization and autonomy of the [DAO](https://iq.wiki/wiki/dao), Yuga Lab revealed that it has no total control or ownership of the DAO. Hence, transfer control to the Ape Foundation where five of the DAO members are selected as the Board to control operations and other affairs of the community. Other members (ApeCoin holders) have the right to decide who the next Board should be. The Board usually consists of highly rated crypto investors. [\[13\]](#cite-id-ke21arumdh) 
 
The Board is responsible for discussing proposals and overseeing other foundation administrations. 
 
## **Board Members** 
 
Alexis Ohanian (Co-founder of Reddit; General Partner & Founder of Seven Seven Six) 
Amy Wu (Head of Ventures & Gaming at FTX) 
Maaria Bajwa (Principal at Sound Ventures) 
Yat Siu (Co-founder & Chairman of Animoca Brands) 
Dean Steinbeck (President & General Counsel at Horizen Labs) [\[14\]](#cite-id-aaohhwlck2k) 
 
## **Ape Foundation IP** 
 
Yuga Labs gifted APE Foundation a 1 of 1 NFT. The company conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation. It allowed the ApeCoin DAO to decide how to use this intellectual property. [\[15\]](#cite-id-02yh26r5fu6s) 
 
# **ApeCoin Adoption** 
 
With the uproar created by the BAYC NFTs, ApeCoin was readily embraced in the ecosystem. ApeCoin was ranked one of the most mentioned coins on Twitter, Reddit, and LunarCrush. [\[16\]](#cite-id-w2fus5tin5j) 
 
The token provides early holders of BAYC and MAYC with a reward of 10,094 and 2042 ApeCoin respectively. It creates investment opportunities for crypto traders. For instance, crypto traders can follow market forecasts and predictions to make buying and selling decisions. [\[17\]](#cite-id-t5v6u0m53pb) 
 
Similarly, the top fashion brand, Gucci, proceeded to accept ApeCoin as one of their payment options.[\[2\]](#cite-id-usue4vbfki) 
 
# **Benefits** 
 
Aside from granting holders voting power, ApeCoin provides other benefits. The token grants holders reasonable access to other parts of the ecosystem, including exclusive games and services, merch, and events. 
Third-party developers can also incorporate APE into their ecosystem through ApeCoin. [\[18\]](#cite-id-mcz5ka2vsk9) 
 
# **Token Allocation** 
 
Total supply – 1 billion tokens 
 
| 62% | ApeCoin DAO | 
| --- | ----------- | 
| 16% | Yuga Labs + Charity | 
| 14% | Contributors | 
| 8% | Founders | 
 
## **Allocation explained** 
 
Of the 1 billion tokens, 62% is allocated to the ecosystem. Yuga Labs gifted 150,000,000 of the supply BAYC holders and MAYC holders unlocked after launch. Another 470,000,000 tokens of the 62% are earmarked for the DAO treasury and resources. [\[19\]](#cite-id-t7nqjjo88om) 
 
The 16% token allocated to Yuga Labs and Charity was initially locked for 12 months. Afterward, 4,166,666.67 were unlocked monthly for 36 months. 10,000,000 tokens of the 16% were donated to the Jane Goodall Legacy Foundation. The donation was initially locked for 12 months and then accessible in 277,777.78 tokens per month for 36 months. The 14% token allocated to contribute was also lockup. [\[20\]](#cite-id-dor3g9fbcgq) 
 
# **Minting and Burning Mechanism** 
 
The token contract interface prevents the minting of more tokens. Also, ApeCoin is not designed as a deflationary token; hence, it does not come with any burning mechanism. In essence, ApeCoin cannot increase or decrease in total supply. [\[21\]](#cite-id-qz3mo70avf) 
 
# **ApeCoin Staking** 
 
The APE ecosystem has a [staking ](https://iq.wiki/wiki/staking)protocol to incentivize tokens holder when they lock up their tokens in a pool for a particular period. In the ecosystem, there are four staking pools 
 
* Pool 1: Accessible to ApeCoin holders and anyone holding ApeCoin combined with BAYC, MAYC, and BAKC NFTs. 
* Pool 2: Accessible to anyone holding both ApeCoin and BAYC NFT. 
* Pool 3: Accessible to those holding ApeCoin and MAYC NFT. 
* Pool 4: Accessible ApeCoin holders with BAKC NFT and either a BAYC or MAYC NFT. [\[22\]](#cite-id-c6fynmiiww) 
 
![image](https://ipfs.everipedia.org/ipfs/Qmc6u3hMqrwZe7Cn5Yt1N2oeBss9MDSjJLcfUeCF7a2bPq) 
 
## **The Staking Amendment Proposal** 
 
Although ApeCoin holders can stake or unstake their tokens at any time, with the staking amendment, the amount of tokens to be staked will be capped per NFT. With this, holders of multiple NFTs can stake more coins. [\[23\]](#cite-id-gz9ba8y982b) 
 
With this proposal, holders of one or two BAYC NFTs and the right amount of ApeCoin can access Pool 2. Also, splitting BAYC into different wallets comes with no reward. 
 
In effect, when users stake their ApeCoins, the NFT serves as a "key vault" for the staked token and is, therefore, not staked. Holders have two options when they intend to sell the NFT. First, they can leave the staked ApeCoin and sell together with the NFT. When this happens, the selling party can no longer unstake the token, but the buyer can unstake and claim its reward. Conversely, a BAYC NFT holder can decide to unstake the staked token, claim it, and then sell the NFT.[\[24\]](#cite-id-cglplafw7i) 
 
* **ApeCoin Geo-Block North American Users from staking token** 
 
With the launch of ApeStake.io coming up on December 12, the APE ecosystem has released its geo-blocking regulation where users or community members in the United States, Syria, Canada, Iran, Russia, Cuba, Luhansk, and Donetsk were blocked from staking. However, the ecosystem remains accessible to all. [\[25\]](#cite-id-r7d1vxrov2) 
 
Yuga Labs declares that while the company understands that this may prove difficult for some members, the new regulation left it with no alternative. 
 
# **Major event** 
 
Yuga Labs has revealed bigger plans for ApeCoin, including integrating the token into some of its plans. For instance, ApeCoin will be the de facto currency in some of its projects to be embarked on by Yuga Labs. It also has a place in the Yuga Labs’ metaverse projects, including otherside.[\[26\]](#cite-id-zmci074v5zr) 
 
![ap1.jpg](https://ipfs.everipedia.org/ipfs/QmV3Lp2f5eigL66E3BFSNLEvRoByk8sicvHfS2BpY7fhBd) 
Also, ApeCoin DAO recently launched its DAO NFTs white-label marketplace using the Snag Solutions infrastructure. The marketplace is set to list BAYC and MAYC NFTs and other collections from Yuga Labs.[\[27\]](#cite-id-qch22brqn6j) 
 
# **REFERENCES** 
 
[\[1\]](#cite-id-crv8ihxwcmc)[\[2\]](#cite-id-usue4vbfki)[\[3\]](#cite-id-6y4d820su4j)[\[4\]](#cite-id-yhx2z1wxj7)[\[5\]](#cite-id-q68tnmd96b8)[\[6\]](#cite-id-0o0sqtfgv04)[\[7\]](#cite-id-t535q47wzs)[\[8\]](#cite-id-sdawhr3xrv)[\[10\]](#cite-id-y17oig5p4q)[\[11\]](#cite-id-ypesn964po8)[\[12\]](#cite-id-tg31w8rn3f8)[\[13\]](#cite-id-ke21arumdh)[\[14\]](#cite-id-aaohhwlck2k)[\[15\]](#cite-id-02yh26r5fu6s)[\[16\]](#cite-id-w2fus5tin5j)[\[17\]](#cite-id-t5v6u0m53pb)[\[18\]](#cite-id-mcz5ka2vsk9)[\[19\]](#cite-id-t7nqjjo88om)[\[20\]](#cite-id-dor3g9fbcgq)[\[21\]](#cite-id-qz3mo70avf)[\[22\]](#cite-id-c6fynmiiww)[\[23\]](#cite-id-gz9ba8y982b)[\[24\]](#cite-id-cglplafw7i)[\[25\]](#cite-id-r7d1vxrov2)[\[26\]](#cite-id-zmci074v5zr)[\[27\]](#cite-id-qch22brqn6j) 
 
 
 
![download (1).png](https://ipfs.everipedia.org/ipfs/QmNzG6ayfRvddNBgTjCQ5MWfAfrUQPNgHDTY7otGjKd3GK)

Providing an in-depth insight on ApeCoin, the ERC-20 native utility and governance token of the APE ecosystem. 
Apecoin empowers holders with DAO power while pr...

ApeCoin 

Quant is a [blockchain](https://iq.wiki/wiki/blockchain) network reputed as the first blockchain operating system that bridges blockchains globally without interfering with the efficiency and other properties of the connected distributed ledgers. [\[1\]](#cite-id-lxhmwtgyib) Quant (QNT) was primarily built to unlock the powers of blockchain technology previously hidden by the fragmented identity and the individualized progress of distributed ledgers. [\[2\]](#cite-id-pz2itmybtzr)[\[5\]](#cite-id-3m78ho8ukq8)  
Quant’s network is classified as an interoperability blockchain platform and is powered by its eponymous [cryptocurrency](https://iq.wiki/wiki/cryptocurrency), Quant (QNT). Enterprises and developers may not be required to buy QNT tokens, but payment for licenses and other associated fees must be paid for in QNT tokens.  
  
## $$widget0 [YOUTUBE@VID](WX_lA_63z64)$$History  
  
Quant was first announced and launched in 2018 by founders, Gilbert Verdian, Colin Paterson and Paolo Tasca. Verdain’s reputation as a renowned cybersecurity expert setting up the UK Financial Investments (UKFI) and working with the US Federal Reserve helped greatly facilitate Quant Network’s entry into the market. [\[10\]](#cite-id-e7ipgo3oly8) In April 2018, they raised $11 million through an [initial coin offering](https://iq.wiki/wiki/initial-coin-offering) (ICO) from a possible $36.9 million hard cap. Quant’s team burnt the leftover tokens from the fundraising event, totaling over 9.5 million QNT. [\[8\]](#cite-id-n3ixacb8yvp)[\[9\]](#cite-id-0am73h4a0lk)  
QNT is an [ERC-20](https://iq.wiki/wiki/erc-20) standard token on the [Ethereum](https://iq.wiki/wiki/ethereum) blockchain with a total supply of 14,692,423 tokens. Despite the team building on the Ethereum network for the sheer volume of support it provided with [wallets](https://iq.wiki/wiki/cryptocurrency-wallet) and [exchanges](https://iq.wiki/wiki/decentralized-exchange), Quant is blockchain agnostic and can be adapted to any blockchain infrastructure, adopting its own plug-and-play solution it developed for enterprise solutions. [\[6\]](#cite-id-x4i6uem7sia)  
Quant Network is backed by the Overledger DLT gateway, staying true to its lack of preference for any distributed ledger technology — blockchain, Directed Acyclic Graph (DAG), hashgraph or other protocol forms. [\[1\]](#cite-id-lxhmwtgyib)[\[3\]](#cite-id-chv2wwzyy7u)  
  
## Utility  
  
With Quant tokens, users of Quant Network can access the services and use cases of the platform. They can only make use of Quant’s blockchain operating system (Overledger) after paying for licensing and platform fees using QNT. Developers, enterprises, partners or financial institutions can leverage Overledger to build [decentralized](https://iq.wiki/wiki/decentralized-application) multi-chain applications (MApps). In return, they must stake a predetermined amount in QNT tokens for [MApp](https://iq.wiki/wiki/decentralized-application) solutions to run. [\[4\]](#cite-id-kwy6188ezxg)  
Quant’s ecosystem typically handles user access fees by locking up the token in a smart contract or moving them into the Treasury. When a user buys access to any of the services on Quant Network, QNT is taken out of circulation, locked in a unique smart contract and released on the subscription’s expiration. Or the [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) may just be moved to the Treasury when a user buys a license to create anything on the network. [\[4\]](#cite-id-kwy6188ezxg)  
  
## Use Cases  
  
Quant has several use cases, all of which are geared toward creating value, mitigating costs and reducing risks.[\[2\]](#cite-id-pz2itmybtzr)  
  
### Capital Markets  
  
The blockchain space is ever-changing and developing, with more asset tokenization expected. The Overledger operating system exposes these assets to newer liquidity pools, creating greater exposure to new markets and increased chances of portfolio diversification among investors.  
  
### Payments  
  
There are zero preferences for any specific [blockchain](https://iq.wiki/wiki/blockchain) with Quant, which creates a more flexible and secure payment channel for digital and fiat currencies. Transaction fees become cheaper because users do not have to move assets across multiple chains or swap assets to complete transactions. [\[6\]](#cite-id-x4i6uem7sia)  
  
### Digital Currencies  
  
Central banks worldwide are exploring the adoption of digital currencies, and more [stablecoins](https://iq.wiki/wiki/stablecoin) may debit in the future. Overledger makes it possible for a genuinely interoperable economy.  
  
### Insurance  
  
Go-betweens and intermediaries in the insurance industry make accessing policies challenging, expensive and time-consuming, limiting the industry’s growth. Quant Network optimizes the superfluous insurance system to make its operations more effective.  
  
### Supply Chain Finance  
  
Trading and supply chains are complex, with several bottlenecks plaguing the system. Associated levels of logistics, payments and customs are made more efficient with Quant Network.  
  
### Compliance  
  
Tracking payments across networks and blockchains can be problematic because the footprints are disruptive and not easily linked. Quant Network makes this information more relatable and trackable for humans and compliance operations.  
  
## QNT Tokenomics  
  
QNT is set at a max supply of 14,612,493 tokens and is allocated as follows:  
  
* 9,964,259 — Amount sold to the public during the [ICO](https://iq.wiki/wiki/initial-coin-offering)  
* 2,649,493 — Is for the company reserve and used for Research and Development, Facilities, Infrastructure, Legal / IP, Marketing, Exchanges  
* 1,347,988 — is for the company founders  
* 650,753 — is for the company advisors [\[7\]](#cite-id-39dyqwxoegy)  
  
Quant Network has a current circulating token supply of 12,072,738 QNT, with around 2 million remaining tokens locked by the company, which can be disposed of in any manner the company desires.

The world's first blockchain operating system is set to make the blockchain space truly interoperable. With services appealing to all classes of users, the util...

Quant Network

**Everipedia** was a blockchain company and encyclopedia founded in 2014 which rebranded to [IQ.wiki](https://iq.wiki/wiki/iqwiki) in October of 2022. For more information on IQ.wiki see the [IQ.wiki page](https://iq.wiki/wiki/iqwiki). 
 
## Rebranding from Everipedia to IQ.wiki 
 
IQ.wiki was previously known as Everipedia. In October 2022, Everipedia rebranded as IQ.wiki with the beta launch of the new IQ.wiki crypto encyclopedia platform on Polygon. The original Everipedia name came from the original vision of creating an encyclopedia of everything. After the launch of the IQ token and as Everipedia grew as a knowledge platform for the cryptocurrency space it made sense to create IQ.wiki a new crypto encyclopedia dedicated specifically to the crypto community with new technology and features. The new IQ.wiki name reflects the importance of the IQ token and the role that cryptocurrency and blockchain technology play in the platform.

IQ.wiki formerly Everipedia is the largest cryptocurrency encyclopedia.

Everipedia

IQ OraQles is a service managed by [BrainDAO](https://iq.wiki/wiki/braindao) that allows verified first parties to bring real-world information on-chain. IQ OraQles previously known as Everipedia OraQles was used by The Associated Press to bring publish the 2020 United States Presidential Election race calls on [Ethereum](https://iq.wiki/wiki/ethereum) for the first time ever. $$widget0 [YOUTUBE@VID](_x_azFL1ANU)$$  
  
## Development  
  
IQ OraQles is managed by [BrainDAO](https://iq.wiki/wiki/braindao) the native DAO of the [IQ token](https://iq.wiki/wiki/iq). [BrainDAO](https://iq.wiki/wiki/braindao)’s mission which is to build a more intelligent future through the [IQ token](https://iq.wiki/wiki/iq). [BrainDAO](https://iq.wiki/wiki/braindao) also developed [IQ.wiki](https://iq.wiki/wiki/iqwiki), the world’s largest crypto encyclopedia.  
  
## History  
  
IQ OraQles software is multi-chain and was used by The Associated Press to publish March Madness tournament data [\[27\]](#cite-id-1v3yl1i3ndn) on [Ethereum](https://iq.wiki/wiki/ethereum), [Binance Smart Chain](https://iq.wiki/wiki/binance-smart-chain), and [Polygon](https://iq.wiki/wiki/polygon). [IQ.wiki](https://iq.wiki/wiki/iqwiki) formerly [Everipedia](https://iq.wiki/wiki/everipedia) partnered with The Associated Press to bring the results of Super Bowl LV [\[28\]](#cite-id-9flz19pbjok) , the Georgia senate runoff [\[29\]](#cite-id-k5u2td0dsk) , and the US presidential elections on-chain [\[30\]](#cite-id-5d4y1a39wt6) .  
  
**US Presidential Election**  
  
On November 2020, the Associated Press (AP), the world's most trusted news agency, used IQ OraQles to publish US Presidential Election Results on-chain for the first time ever [\[30\]](#cite-id-5d4y1a39wt6) . The Associated Press provided real-time election data for the senate, house, and governor races. The Associated Press signed it themselves with the [Ethereum](https://iq.wiki/wiki/ethereum) Public Key `0x436ee8cb3a351893b77f8b57c9772daec3a96445` [\[32\]](#cite-id-pwbkess8cp8) and the [EOS](https://iq.wiki/wiki/eos) account associapress [\[31\]](#cite-id-8hhlaqokwzj) . The event has been covered in articles by Forbes [\[33\]](#cite-id-njnjxw4f8ng) , CoinDesk [\[34\]](#cite-id-uy3bc6bapo) , CoinTelegraph [\[35\]](#cite-id-b3r0zppptj8) , and other publications.  
  
![everipedia-ap.jpeg](https://ipfs.everipedia.org/ipfs/QmaWpiKX1Q14Mnvm5ucwJBNM449BWWVoxdHMwU12tyLdWM)  
  
**US Senate Election Race**  
  
On December 2020, the Associated Press (AP) expanded its partnership with [IQ.wiki](https://iq.wiki/wiki/iqwiki) to bring the US senate election race calls [\[29\]](#cite-id-k5u2td0dsk) on the [blockchain](https://iq.wiki/wiki/blockchain) through IQ OraQles. The United States Senate elections on January 5, 2021, determined which party controls the United States Senate. IQ.wiki was offering AP’s senate race calls in a trusted and transparent manner through the use of oracles. AP signed the data cryptographically and published results with their Ethereum Public Key `0x436ee8cb3a351893b77f8b57c9772daec3a96445`. [\[32\]](#cite-id-pwbkess8cp8) The results published by AP through the IQ OraQle were also available through their partner [Chainlink's](https://iq.wiki/wiki/chainlink) oracles  
  
**Super Bowl LV**  
  
The Associated Press used the IQ OraQles software to call the Tampa Bay Buccaneer's historic Super Bowl LV win [\[28\]](#cite-id-9flz19pbjok) on [Ethereum](https://iq.wiki/wiki/ethereum).  
  
![jpg.jpg](https://ipfs.everipedia.org/ipfs/QmSbkaUU1dGB5vUQ7pm2XZ5ffnWp123d2mvHndPupkKb8V)  
  
**March Madness**  
  
On March 2021, The Associated Press (AP) announced expanding its collaboration with [IQ.wiki](https://iq.wiki/wiki/iqwiki) into college sports. The Associated Press used the IQ OraQle software to publish March Madness scores [\[27\]](#cite-id-1v3yl1i3ndn) and schedules on the [Ethereum](https://iq.wiki/wiki/ethereum) blockchain.  
  
![march-madness-ap-v10.jpeg](https://ipfs.everipedia.org/ipfs/QmNMT1kzwUMCSQyKXjtptFGfhTyygCKda64Ktj3djHvt9c)

IQ OraQles is a service that allows for verified first parties to bring real-world information on-chain.

IQ OraQles

**IQ.wiki formerly Everipedia** is the largest [blockchain](https://iq.wiki/wiki/blockchain) and [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) encyclopedia in the world, with pages on cryptocurrencies such as [Ethereum](https://iq.wiki/wiki/ethereum), [NFTs](https://iq.wiki/wiki/non-fungible-token-nft-1) like [Bored Ape Yacht Club](https://iq.wiki/wiki/bored-ape-yacht-club), [DeFi](https://iq.wiki/wiki/defi) projects like [Frax Finance](https://iq.wiki/wiki/frax-finance), leaders in the space like [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin), and many more aspects of the blockchain space. The [IQ token](https://iq.wiki/wiki/iq) powers IQ.wiki and all edits on the platform are recorded on-chain through [Polygon](https://iq.wiki/wiki/polygon) and the InterPlanetary File System (IPFS). The encyclopedia is governed by IQ token stakers who earn rewards for their contribution. [\[23\]](#cite-id-h2k8872ztli) [\[24\]](#cite-id-ixuodluuzll)  
  
## Blockchain  
  
All edits on IQ.wiki are recorded on the Polygon blockchain with the transaction hash for each edit stored on-chain. The data and images uploaded as part of each wiki are stored on IPFS and the hashes are included on each page for the users to verify. [\[24\]](#cite-id-ixuodluuzll)  
  
IQ.wiki was built on Polygon, the leading Ethereum sidechain to ensure that the platform was both scalable and accessible to the Ethereum ecosystem. IQ.wiki uses the OpenZepplin defender relayer to provide contributors with a gasless user experience.  
  
## IQ Token  
  
The [IQ token](https://iq.wiki/wiki/iq) is integral to IQ.wiki. IQ token holders who stake their tokens with the HiIQ staking system, vote on governance decisions involving both the platform and the IQ token itself. IQ token stakers also earn IQ token rewards from staking and contributing to the platform. They also govern [BrainDAO](https://iq.wiki/wiki/braindao), the native DAO and treasury of the IQ ecosystem. [\[24\]](#cite-id-ixuodluuzll) [\[23\]](#cite-id-h2k8872ztli)  
  
After the beta period, IQ.wiki plans on introducing HiIQ Brain Pass NFTs for IQ stakers which will provide several benefits including the ability to edit on IQ.wiki. Users will also be able to acquire the NFTs by purchasing them with IQ tokens.  
  
## Integrations  
  
### ENS  
  
IQ.wiki integrates [Ethereum Name Service (ENS)](https://iq.wiki/wiki/ens). If a user has resolved their ENS to their blockchain address, their ENS will automatically populate as their username when they log in. [\[24\]](#cite-id-ixuodluuzll)  
  
### Magic  
  
IQ.wiki integrates Magic, a leading user authentication and private key management solution, which allows users to log in to IQ.wiki with their email or social media.  
  
### The Graph  
  
IQ.wiki also integrates [The Graph](https://iq.wiki/wiki/the-graph), a decentralized protocol for indexing and querying data in networks like Ethereum and IPFS. [\[24\]](#cite-id-ixuodluuzll)  
  
### Market Data  
  
IQ.wiki pages on cryptocurrencies, NFT projects, and exchanges automatically pull market data and statistics from [Coingecko](https://iq.wiki/wiki/coingecko) and other reliable APIs. [\[24\]](#cite-id-ixuodluuzll)  
  
## Rebranding from Everipedia to IQ.wiki  
  
IQ.wiki was previously known as Everipedia. On October 11, 2022, Everipedia rebranded as IQ.wiki with the beta launch of the new IQ.wiki crypto encyclopedia platform on Polygon. The original Everipedia name came from the original vision of creating an encyclopedia of everything. After the launch of the IQ token and as Everipedia grew as a knowledge platform for the cryptocurrency space it made sense to create IQ.wiki a new crypto encyclopedia dedicated specifically to the crypto community with new technology and features. The new IQ.wiki name reflects the importance of the IQ token and the role that cryptocurrency and blockchain technology play in the platform. [\[24\]](#cite-id-ixuodluuzll)  
![iq.wiki-launch-image.png](https://ipfs.everipedia.org/ipfs/Qmeuj5aHib3xVVvwVjcZ24tR6r1HzPTiHTQPMFsTr5cwy7)  
  
## Leadership  
  
IQ.wiki is led by Head Brain [Navin Vethanayagam](https://iq.wiki/wiki/navin-vethanayagam) who leads IQ.wiki's Community, Content, and Growth team, and Chief Technology Officer [Cesar Rodriguez](https://iq.wiki/wiki/cesar-rodriguez) who leads IQ.wiki's Engineering Department. Navin previously served as Everipedia's Chief Community Officer for several years. Cesar Rodriguez was previously Everipedia's Director of Engineering and led development for the IQ.wiki platform. [\[24\]](#cite-id-ixuodluuzll)  
  
The managers of IQ.wiki's Community, Content & Growth team include Andy Cho who serves as IQ.wiki's Director of Business Development, Violetta Ziborova who serves as IQ.wiki's Content Manager, and Kevin Wang who serves as IQ.wiki's Director of China.  
  
IQ.wiki Blockchain Developer [Justin Castillo](https://iq.wiki/wiki/justin-castillo) works with Cesar Rodriguez to coordinate with the BrainDAO engineering team of project managers, backend engineers, front-end engineers, and UX designers. The IQ.wiki technical team also includes Senior Software Engineer [Justin Moore](https://iq.wiki/wiki/justin-moore) who focuses on scalability and [Richard Gee](https://iq.wiki/wiki/richard-gee) who focuses on [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) and [smart contracts](https://iq.wiki/wiki/smart-contract).  
  
After the launch of the new IQ.wiki platform, Everipedia Co-founder and CEO [Theodor Forselius](https://iq.wiki/wiki/theodor-forselius) as well as CFO and COO [Suchet Dhindsa](https://iq.wiki/wiki/suchet-dhindsa-salvesen) transitioned over to the parent company of IQ.wiki, which is dedicated to more broadly investing in the future of knowledge. Everipedia co-founders [Sam Kazemian](https://iq.wiki/wiki/sam-kazemian) and [Travis Moore](https://iq.wiki/wiki/travis-moore) have also joined the parent company as board members.  
  
## IQ OraQles with The Associated Press  
  
### 2020 US Presidential Election  
  
In 2020, IQ.wiki known as Everipedia at the time developed [IQ OraQles](https://iq.wiki/wiki/iq-oraqles), [\[25\]](#cite-id-l8sr6g1en2) a service that allows for verified first parties to bring real-world information on-chain. In 2020, The Associated Press used the [IQ OraQles](https://iq.wiki/wiki/iq-oraqles) system to publish U.S. election race calls on Ethereum. AP signed the data with their own Ethereum address `0x436Ee8cB3a351893b77F8B57c9772DAEc3a96445` which is listed on their website. This marked the first time a US election was called on the blockchain. The historic moment was covered by publications including Forbes, CoinDesk, and Nasdaq News. The on-chain results from the election were also used to resolve a Yield Wars prediction market which saw over $200,000 in volume. [\[9\]](#cite-id-30mus6gjdfg) [\[8\]](#cite-id-4gwjmmx4x22) [\[7\]](#cite-id-cat7ilojtr8) [\[2\]](#cite-id-y4c891xvkhp) [\[1\]](#cite-id-6vp5en76iof) [\[12\]](#cite-id-otrvzi0m1v)  
  
$$widget0 [YOUTUBE@VID](_x_azFL1ANU)$$  
  
### 2020 US Senate Election Race  
  
In December 2020, the Associated Press (AP) expanded its partnership with Everipedia to bring the US senate election race calls on the blockchain through [IQ OraQles](https://iq.wiki/wiki/iq-oraqles). The United States Senate elections on January 5, 2020, determined which party controls the United States Senate. Everipedia was offering AP’s senate race calls in a trusted and transparent manner through the use of oracles. AP signed the data cryptographically and published results with their Ethereum Public Key `0x436ee8cb3a351893b77f8b57c9772daec3a96445`. [\[1\]](#cite-id-6vp5en76iof) [\[2\]](#cite-id-y4c891xvkhp) [\[10\]](#cite-id-ceevw0t2lx)  
  
### Super Bowl LV  
  
On February 7, 2021, The Associated Press used Everipedia's [IQ OraQles](https://iq.wiki/wiki/iq-oraqles) software to call the Tampa Bay Buccaneer's Super Bowl LV win on Ethereum. This marked the first time that Super Bowl game results had been recorded on-chain. [\[11\]](#cite-id-cnclj2ve4mj) [\[12\]](#cite-id-otrvzi0m1v)  
  
### AP's First NFT  
  
In March 2021, AP collaborated with Everipedia to create a one-of-one NFT artwork commemorating the first US election recorded on the blockchain titled *The Associated Press calls the 2020 Presidential Election on Blockchain - A View from Outer Space.* The NFT artwork was created and published on Ethereum by AP using their Ethereum address `0x436Ee8cB3a351893b77F8B57c9772DAEc3a96445`. AP used this same address to declare the winner of the United States 2020 Presidential Election. AP’s unique Ethereum address acts as a cryptographic signature for *The Associated Press calls the 2020 Presidential Election on Blockchain - A View from Outer Space* and shows that AP has verified the historic election data displayed in the piece as well as the metadata in the NFT. Within the NFT’s metadata AP has included the exact date and time that AP called the election, the electoral college votes won by Republicans and Democrats, the names of both candidates, and the number of votes received by each candidate. [\[13\]](#cite-id-oh5ks4zawya) [\[14\]](#cite-id-dnhob089oyo) [\[15\]](#cite-id-6lgv1p9iocw)  
  
On March 11, 2021, *The Associated Press calls the 2020 Presidential Election on Blockchain - A View from Outer Space* sold for 100.888 ETH in an auction on [OpenSea](https://iq.wiki/wiki/opensea). [\[14\]](#cite-id-dnhob089oyo)[\[13\]](#cite-id-oh5ks4zawya)  
  
![ap-nft.png](https://ipfs.everipedia.org/ipfs/QmUeWZ8kgSSJkMrV6jTYNAgXSVbydwLVFdwjMxWJGCZ4W8)  
  
### 2021 March Madness  
  
In March 2021, AP used the IQ.wiki known as Everipedia's [IQ OraQles](https://iq.wiki/wiki/iq-oraqles) software to publish the results of all 67 March Madness games as well as the scores and schedules on the Ethereum blockchain. [\[17\]](#cite-id-us5p4j7zmsh) [\[16\]](#cite-id-85qhi0ncpcl)  
  
## History  
  
### Pre-blockchain Origins  
  
Everipedia was founded by Sam Kazemian and Theodor Forselius at UCLA in December 2014. The website was created as a side project out of Kazemian's dorm room. [\[4\]](#cite-id-89nn8pnm5lp) [\[5\]](#cite-id-q5d06vrq8j)  
  
Originally, Everipedia started with a mission to build a more modern and inclusive version of Wikipedia. Sam and Theodor were inspired by Y Combinator's co-founder Paul Graham's blog post published in 2008 entitled "Startup Ideas We'd Like to Fund." In his list of ideas, he called for "more open alternatives to Wikipedia": [\[3\]](#cite-id-sywi7r6x3a)  
  
In April 2015, Travis Moore joined Everipedia's team as a co-founder and their CTO. In September 2017, Suchet Dhindsa joined as Everipedia's COO.  
  
### Blockchain  
  
On December 6, 2017, Everipedia announced that they were building "the first encyclopedia on the blockchain." Using EOS blockchain technology, they stated they are working on a cryptocurrency token called IQ. On the same day, Wikipedia co-founder Larry Sanger joined the team serving as Everipedia's Chief Information Officer until he launched the non-profit Knowledge Standards Foundation in 2019. The whitepaper later described Everipedia as a decentralized database that creates an incentivized peer-to-peer network (known as the Everipedia Network) for submitting, curating, and governing a database of encyclopedia articles. [\[18\]](#cite-id-7taq6jnjmna) [\[19\]](#cite-id-d1w357jg93)  
  
On July 12, 2018, Everipedia moved onto the EOS blockchain and launched the IQ token airdropping 51% of the IQ token supply to EOS holders. Everipedia Co-Founder and CTO Travis Moore explained that by doing an airdrop Everipedia would ensure the widest possible distribution of IQ tokens with every EOS holder receiving tokens. [\[20\]](#cite-id-odmm4tdixrf)  
  
> "The airdrop will play a significant role in helping Everipedia accomplish as wide of a distribution as possible for IQ tokens."  
  
### Funding  
  
#### Seed Funding  
  
In July 2015, Everipedia received seed funding from Mucker Capital. Shortly after, Everipedia received its first outside investment from angel investor Kami Parsa. It also received funds from multiple other angel investors that year, including David Segura and David Petersen, the co-founder and CEO of Buildzoom. [\[21\]](#cite-id-mjr8ksd4x3) [\[22\]](#cite-id-eg4dihcgd9)  
  
In 2016, Everipedia received $130,000 on Wefunder, a crowdfunding service that connects start-ups with investors online.  
  
#### Series A  
  
On February 8, 2018, Everipedia announced that they had received $30 million of funding from a group of strategic investors in a Series A led by Galaxy Digital. [\[6\]](#cite-id-jtlmgu7pwte)

IQ.wiki

Ethereum Name Service (ENS) is an open-source, distributed, and extensible naming system based on the [Ethereum](https://iq.wiki/wiki/ethereum) blockchain, which allows users to create human-readable names for Ethereum addresses and other content in place of long wallet or service addresses. Additionally, it works similarly to Domain Name System (DNS) and enables a secure and [decentralized](https://iq.wiki/wiki/decentralized-application) way to address websites and resources via names rather than numbers.[\[1\]](#cite-id-lm7wqlkrdr)[\[2\]](#cite-id-bonotrk7mks)[\[8\]](#cite-id-3akq76lje3d) On secondary markets, anyone can buy and sell ENS domains as NFTs. Each address corresponds to a user's web3 username.  
  
# Overview  
  
$$widget0 [YOUTUBE@VID](wDPy-SIwHOU)$$ENS is an open and [decentralized](https://iq.wiki/wiki/decentralized-application) naming and lookup system built on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain) which helps users to easily transfer funds and also access websites and resources such as smart contracts, wallet addresses, and more with ease using just simple names in place of blockchain or [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) addresses. It is built on Ethereum’s [smart contract](https://iq.wiki/wiki/smart-contract), making it more secure, private, and resistant to censorship than the DNS.  
  
Its primary function is to map human-readable names like ‘vitalik.eth’ to machine-readable identifiers such as Ethereum addresses or any other [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) addresses, content hashes, and metadata. it also helps ‘reverse resolution’, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum addresses.[\[3\]](#cite-id-ar76vwjcc0n)[\[4\]](#cite-id-5dpulvspm7f)  
  
ENS Domain names are [Non-Fungible Tokens (NFTs) ](https://iq.wiki/wiki/non-fungible-token-nft-1) and follow ERC-721 standards. These domains can be traded on NFT marketplaces such as [OpenSea](https://iq.wiki/wiki/opensea).[\[5\]](#cite-id-1ev0mcsumt4)[\[6\]](#cite-id-2vomlo2n1qo) Apart from using just a Domain service, The users can even develop a decentralized website using ENS and a decentralized storage system known as InterPlanetary File System.[\[11\]](#cite-id-2gosmynk2n3)  
  
# History  
  
The Ethereum Name Service was first launched \\by the Ethereum Foundation back in May 2017 and it was introduced by developers Nick Johnson and Alex Van de Sande, allowing users to register .eth domain names and link them to Ethereum resources. It then divided into an independent organization, True Names Ltd in May 2018. True Names Ltd is a non-profit organization registered and based in Singapore.[\[24\]](#cite-id-72bk9hfvytu)  
  
Currently, ENS is managed by them with the help of the [Ethereum](https://iq.wiki/wiki/ethereum) Community. Initially, ENS has supported only .eth domain names, but over the years, the team added support for many DNS names (TLD s), including .xyz , .kred, .luxe , .club, and .art.[\[7\]](#cite-id-0romjnhl3a3m)  
  
# Tech  
  
The registry and resolvers are the ENS's two main parts, which are the two Ethereum [smart contracts.](https://iq.wiki/wiki/smart-contract)  
  
## ENS Registry  
  
The registry records the domain name, it consists of a single smart contract that maintains a list of all domains and subdomains, and stores the following vital information about, the owner of the domain, the resolver for the domain, and lastly the caching time-to-live for all records under the domain.  
  
The basic agreement at the center of ENS resolution is the ENS registry. All ENS lookups begin with a registry search. The registry keeps a record of all domains and records the owner, resolver, and TTL. Each domain owner is given the ability to edit this information.[\[12\]](#cite-id-okrnq0d2d)[\[13\]](#cite-id-hjmiv0eqeyd)  
  
## ![spaces_-LZWNj0_mU4_3ENJbw83_uploads_git-blob-131fdde717920b27e6aae5aac41bdbd088b6123c_ens-architecture.png](https://ipfs.everipedia.org/ipfs/QmXoFu6cNJR2zD2Et587Dy6dHK5uaDhWJD96ocsaKcQzsk)The Resolver  
  
The Resolver translates machine-readable addresses into domain names for the users. Any agreement that meets the appropriate standards is qualified to serve as an ENS resolver. For users with simple requirements, like serving a rarely modified address for a name, general-purpose resolver options are available.  
  
In ENS, names are resolved in two steps: first, the user is expected to ask the registry which resolver is in charge of the name, and then they must ask that resolver to respond to their inquiry.[\[14\]](#cite-id-1b58ktat4km)  
  
# Use Cases  
  
## Crypto Transaction  
  
Users who regularly transact through crypto can assign an ENS to their [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) wallet for ease of use. This minimizes the risks of sending crypto to the wrong addresses often associated with using long and unmemorable addresses.[\[3\]](#cite-id-ar76vwjcc0n)  
  
## Multiple Address  
  
A user can assign several addresses to their ENS domain, which lets them receive any digital currency or NFT. Due to the contextual functionality of these multi-address domains, users can map both their web3 wallet and their Ethereum wallet to the same domain.[\[7\]](#cite-id-0romjnhl3a3m)  
  
ENS unifies different web services into one source. A user's website is the destination when they enter their ENS domain into a web browser. The exchange or dApp they use will automatically recognize your crypto address when they use their ENS to send or receive [cryptocurrency](https://iq.wiki/wiki/cryptocurrency).[\[11\]](#cite-id-2gosmynk2n3)  
  
## Decentralized Websites  
  
Users can also assign ENS domains to decentralized websites, such as those hosted by the InterPlanetary File Systems (IPFS), which requires a higher technical knowledge. Likewise, ENS spreads out DNS capacities by allowing users to register their DNS names.  
  
Those who own a website registered with the DNS domain that hosts their resume and academic certificates can link their DNS-registered website with their ENS domain if they want to maintain one ENS domain name for their website, crypto address, LinkedIn account, Github, and many more.[\[12\]](#cite-id-okrnq0d2d)  
  
## Immutability  
  
ENS transactions are immutable since they are powered by smart contracts that operate on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain). All ENS records are unchangeable and unalterable, similar to blockchain technology.  
  
## Monetizing ENS Domains  
  
ENS domains follow the ERC-721 token standard, meaning users can trade, transfer, or use them as collateral to secure a crypto loan. On online markets like [OpenSea](https://iq.wiki/wiki/opensea) or [Rarible](https://iq.wiki/wiki/rarible), an individual's domain name is available for purchase or sale as an [NFT](https://iq.wiki/wiki/non-fungible-token-nft-1). On lending services like NFTfi, users can still use it as collateral to secure a loan.[\[15\]](#cite-id-uiodibrxlk8)[\[16\]](#cite-id-d9r93i54dh7)  
  
# ENS Token  
  
ENS is the governance token of Ethereum Name Service and is used to govern the protocol and influence decisions on pricing its .eth addresses and the price oracle. It is an [ERC-20](https://iq.wiki/wiki/erc-20) token built on the [Ethereum blockchain](https://iq.wiki/wiki/ethereum). Holders of the token can also delegate their tokens to the [DAO](https://iq.wiki/wiki/dao) for voting.[\[18\]](#cite-id-j8xicax9wns)  
  
## Token Distribution  
  
![img5_ens.jpg](https://ipfs.everipedia.org/ipfs/QmNQUdpwfLwoYZVWHPsuT2KW4teuUvzJB5wbSZbU5wB3u6)Early adopters who had previously registered an ENS domain name were airdropped by the ENS token. Users had from November 8th, 2021, through May 4th, 2022, to claim the tokens they were entitled to. The airdrop was used to distribute 25% of the overall supply.  
  
* DAO Community Treasury (50%): 10% at launch, linear vesting over four years.  
* Airdrop to.ETH holders (25%)  
* Contributors (25%), with four-year linear vesting including:  
    Core Contributors: 18.96%  
    * Select Integrations: 2.5%  
    * Future Contributors: 1.25%  
    * External Contributors: 1.29%  
    * Launch Advisors: 0.58%  
    * Keyholders: 0.25%  
    * Active Discord Users: 0.125%  
    * Translators: 0.05%[\[18\]](#cite-id-j8xicax9wns)  
  
## Funding  
  
ENS had no VC investors. However, the protocol has received financial support from the Ethereum Foundation, [Binance](https://iq.wiki/wiki/binance), [Ethereum Classic Labs](https://iq.wiki/wiki/ethereum-classic), and Protocol Labs.  
  
# ENS DAO  
  
The ENS DAO is a [DAO](https://iq.wiki/wiki/dao) that governs the ENS protocol. Delegate systems often serve as the ENS DAO's framework and give members the ability to select their representatives. Individual members can therefore make suggestions for revisions or propositions, and others will vote on them. Even though ENS is [decentralized](https://iq.wiki/wiki/decentralized-application) and its [DAO](https://iq.wiki/wiki/dao) runs without human oversight, some operations, such as the multi-sig contracts that control the registrar contract and the treasury, call for human interaction.[\[25\]](#cite-id-e57i9dkj28)  
  
The DAO is run by the ENS Constitution. It is a set of binding rules that determine what governance actions are legitimate for the DAO to take. The ENS DAO was established to manage the ecosystem.[\[26\]](#cite-id-xzkffls453t)  
  
The ENS governance Process includes Venues, a Discourse forum for discussions about governance, located at discuss.ens.domains. Snapshot is the second, straightforward voting interface that enables users to express sentiment off-chain. Governance Portals is the third option. Token holders may delegate their votes through the governance portal Tally, which also enables delegates to draft and vote on binding proposals. Another such governance portal is Sybil.[\[27\]](#cite-id-zqosmc9cja9)[\[28\]](#cite-id-fwsotujccmp)  
  
### Types of Proposal  
  
Users can vote on many things in the DAO, including:  
  
1. Executable Proposal: Executable proposals for several smart contract actions, such as dividing up the liquid token pool among grants for Web3 development.  
2. Social Proposal: Off-chain social suggestions are made to add or remove directors, members, or supervisors.  
3. Constitutional amendments: Amendments to the Constitution that change how the ENS carries out its mandate.[\[29\]](#cite-id-imtsrpgi8b)  
  
# ENS Foundation  
  
![FWHGYzcXoAAXVax.jfif](https://ipfs.everipedia.org/ipfs/QmWoVYevCMeKZXJa2PLRCpRezQYgDYRtEo8W2Q2KiTxBeq)The ENS Foundation is a Foundation Company Limited By Guarantee, incorporated in the Cayman Islands.  
  
The ENS Foundation cannot distribute dividends to its directors or members because it has no shareholders and is a nonprofit organization.  
  
Three members of the ENS core team serve as directors for the ENS Foundation: Nick Johnson, Brantly Millegan, and Kevin Gaspar. Directors are in charge of managing the foundation's daily operations.  
  
The ENS Foundation has only one manager. It is the responsibility of the supervisor, a position in the administration, to ensure that the directors are carrying out their duties in line with Cayman Islands law. An organization from the Cayman Islands called DS Limited holds the job of supervisor.  
  
The ENS Foundation's Articles of Incorporation give significant powers to the ENS DAO (referred to as "The Council" in the Articles). The DAO may vote to:  
  
* Appoint or remove a director, member, or supervisor.  
* Prohibit admitting any members in the future.  
* Instruct the directors to wind up the foundation, and specify what charity or other foundation should receive the foundation's assets.[\[30\]](#cite-id-mtaj6kioero)  
  
# Partnerships  
  
### ENS x Coinbase  
  
Aligned with its mission to make web3 more accessible, ENS announced on September 20, 2022, it's partnering with [Сoinbase](https://iq.wiki/wiki/coinbase) to create cb id usernames, free-to-claim web3 usernames. Existing .eth addresses can connect existing names to seamlessly transact and build out your web3 digital identity.[\[20\]](#cite-id-jrplzprni1c)  
  
### ENS x Huobi  
  
ENS announced on July 2022, it is partnering with [Huobi](https://iq.wiki/wiki/huobi) to provide infrastructure for ENS users to use ENS domains on the Huobi platform.[\[32\]](#cite-id-k4yt45f001)  
  
# Notable Sales  
  
$$widget0 [YOUTUBE@VID](5YBkujGj-DI)$$In October 2021, paradigm.eth which is known as the most expensive ENS domain, sold for 420 ETH,  $1.5 million at the time of purchase.  
  
On the 3 of July 2022, ENS 000. eth sold for 300 ETH, following the sale of porno.eth for 184 ETH on the 29 of June 2022.  
  
On the 7th of February 2022, amazon.eth sold for 33 ETH.[\[32\]](#cite-id-sw3jtgjjc1)  
  
# Team Members  
  
The ENS team includes:  
  
* Khori Whittaker - Executive Director  
* Nick Johnson - Creator & Lead Developer  
* Jeff Lau - Frontend & Solidity Developer  
* Makoto Inoue - JS & Solidity Developer  
* Kevin validator.eth - Support Lead  
* Leon Talbert - Frontend Developer  
* Richard Moore - Advisor  
* Muhammed Tanrıkulu - Full Stack Developer  
* alisha.eth - Governance Lead  
* taytems.eth - Frontend Developer  
* davidchu.eth - Frontend Developer  
* Luc van Kampen - Developer Relations  
* Dom Perri - Product Designer[\[31\]](#cite-id-gudp8u10c6l)  
  
# Controversy  
  
Ethereum Name Service (ENS) backers, True Names Ltd filed a lawsuit against the web host giant GoDaddy. It was claimed that GoDaddy sold the domain name Eth.link to Manifold Finance in an unauthorized manner.  
  
The US District Court for the District of Arizona received a complaint from True Names Ltd, stating Eth.link would have expired on July 26, 2023, according to court filings, but GoDaddy asserted that the name had expired on July 26, 2022, and it was sold on September 3, 2022.  
  
True Names Ltd. requested a temporary restraining order against GoDaddy as well as $75,000 in damages, excluding attorney fees.  
  
ENS took to its Twitter on the 19 of September 2022, to announce that the eth.link is now back online.[\[21\]](#cite-id-00493vpy4jg3u)[\[22\]](#cite-id-suwiu9poipd)[\[23\]](#cite-id-612ckbzx3e)  
  
> We're delighted to report that http://eth.link is now back online! Our injunction was successful and the name has been returned to us. Users are welcome to resume using the service - or keep using the excellent community-run alternative, http://eth.limo.

Ethereum Name Service is a decentralized, open source, and permissible naming system which runs on the Ethereum smart contracts.

Ethereum Name Service

**LooksRare** is a community-first [Non-Fungible Token (NFT)](https://beta.everipedia.org/wiki/non-fungible-token-nft) marketplace that rewards traders, collectors, and creators for participating. Users can buy NFTs and sell them for rewards.  
  
Within just three days after its launch, the NFT marketplace has recorded a sales volume of $394 million, a report by CoinTelegraph said. It has also beaten [OpenSea's](https://beta.everipedia.org/wiki/opensea) daily record volume of $324 million when it recorded $578 million worth of ETH on January 17th, 2022.[\[1\]](#cite-id-v68uhos3rjd)[\[2\]](#cite-id-ee5h32tzznr)  
  
## Overview  
  
LooksRare is a community-first [Non-Fungible Token (NFT) ](https://beta.everipedia.org/wiki/non-fungible-token-nft)marketplace, that rewards and gives back to the platform's users and creators.[\[3\]](#cite-id-oz08vb9w7lo)  
  
Users that buy or sell NFTs from eligible collections on the platform can earn $LOOKS tokens. 100% of trading fees are earned by $LOOKS stakers and creators get royalty payments at the moment of sale.  
  
The platform has a 2% standard fee on all NFT trades that goes to LOOKS token stakers, this fee is lower than [OpenSea's](https://beta.everipedia.org/wiki/opensea) 2.5%. Users can also trade NFTs with Ether or wrapped ether (WETH).  
  
The team has indexed all NFT collections that are on the [Ethereum](https://beta.everipedia.org/wiki/ethereum-classic) [blockchain](https://beta.everipedia.org/wiki/blockchain). This means users can trade all the Ethereum NFTs that are available on [OpenSea](https://beta.everipedia.org/wiki/opensea) and some that aren't.[\[4\]](#cite-id-s4nkofpscy)[\[5\]](#cite-id-kbtbdj62519)  
  
It was created by two anonymous co-founders, known as Zodd and Guts, with the motto “By NFT People, for NFT People". The platform went live on January 10th, 2022 with a token airdrop.  
  
CoinTelegraph stated in a report:  
  
> "Within just three days, the NFT marketplace has recorded a sales volume of $394 million".  
  
The top NFTs that stirred interest among buyers on LooksRare are the Meebits collection, which comes from Larva Labs, the same creators behind [Cryptopunks](https://beta.everipedia.org/wiki/cryptopunks) and Autoglyphs. Other popular projects include Loot (for Adventurers), Purrnelopes Country Club and Parallel Alpha.  
  
On January 10, 2022, The LooksRare site was down for a few hours, this caused some users to experience difficulties while connecting their wallets and completing listings.  
  
According to the project's Discord, the site was under a distributed denial-of-service attack (DDoS), which means that its network was overwhelmed with malicious traffic.  
  
Within just three days after its launch, the NFT marketplace has recorded a sales volume of $394 million, a report by CoinTelegraph said. It has also beaten [OpenSea's](https://beta.everipedia.org/wiki/opensea) daily record volume of $324 million when it recorded $578 million worth of ETH on January 17th, 2022.[\[6\]](#cite-id-u3f8vksm85)  
  
# Tokenomics  
  
### $LOOK Token  
  
The $LOOK Token is the native coin of LooksRare, its main utility is staking, liquidity pools, and buying and selling NFTs. There is a total supply of 1,000,000,000 $LOOKS.[\[7\]](#cite-id-c4f9fslrgtq)  
  
|  | Percentage of Supply | Total |  
| --- | -------------------- | ----- |  
| Airdrop | 12% | 120,000,000 |  
| Strategic Sales | 3.3% | 33,083,003 |  
| Liquidity Management | 1.7% | 16,916,977 |  
| Volume Rewards | 44.1% | 441,000,000 |  
| Staking Rewards | 18.9% | 189,000,000 |  
| Founding Team | 10% | 100,000,000 |  
| Treasury | 10% | 100,000,000 |  
| Total Supply | 100% | 1,000,000,000 |  
  
### Staking $LOOKS  
  
LOOKS token stakers earn 100% of the trading fees on LooksRare. The platform collects a basic sales fee of 2% (in WETH) on all NFT sales excluding private sales.  
  
All the WETH collected from these fees are consolidated at the end of each recurring 6,500 [Ethereum](https://beta.everipedia.org/wiki/ethereum-classic) block period (roughly 24 hours) and then distributed to LOOKS stakers over the next 6,500 block period.  
![Screenshot-2022-04-27-at-12.21.49-PM.png](https://ipfs.everipedia.org/ipfs/QmYnPVeK6jA4gbCMmkHoyNtuAFVSi6Qd1o5qR2TB5rEVdG)  
  
$LOOKS can remain staked and will continue to accumulate even it isn't claimed every day. Users can wait until gas fees are low before claiming.  
  
Active stakers are the majority of stakers, whose staked $LOOKS tokens are fully unlocked. Passive stakers are stakers whose $LOOKS tokens are locked for trading but unlocked for staking: namely Team, Treasury, and Strategic sale tokens. $LOOKS here do not earn additional $LOOKS while staked.[\[8\]](#cite-id-m5hn35gte4)

LooksRare is a community-first Non-Fungible Token (NFT) marketplace

LooksRare

Redacted is a product suite of [smart contracts](https://iq.wiki/wiki/smart-contract) designed to provide on-chain liquidity, governance, and cash flow for [DeFi](https://iq.wiki/wiki/defi) protocols. The Redacted Cartel DAO builds the Redacted ecosystem. The Redacted protocol is powered by the BTRFLY token, which allows users to stake, earn incentives, and interact with governance proposals.[\[1\]](#cite-id-z3x9mwao2q)[\[3\]](#cite-id-p77tgae3p9)[\[4\]](#cite-id-6ou90pttrdd)  
  
# $$widget0 [YOUTUBE@VID](J8eEc_J4Znk)$$Overview  
  
REDACTED incentivizes bonding tokens from the [Curve](https://iq.wiki/wiki/curve-finance) ecosystem into their treasury in exchange for the BTRFLY token. Each BTRFLY token is backed by value from the Curve ecosystem locked in the DAO treasury. BTRFLY is an [ERC20](https://iq.wiki/wiki/erc-20) token but it bridges the core components and token to whatever chains Curve scales to.[\[2\]](#cite-id-x02b39auq3)  
The strategies employed through bonding allow REDACTED to accumulate voting power in the Curve gauge and utilize that power to vote on the behalf of minters ensuring their interests are best represented in the Curve gauge.[\[2\]](#cite-id-x02b39auq3)  
  
In addition to an aggregation of voting power, when utilizing Curve LP tokens to mint BTRFLY, users receive a maximized yield and possess a liquid token that is securely backed by stable assets. BTRFLY is primarily backed by the [stablecoin](https://iq.wiki/wiki/stablecoin) LP tokens, remaining relatively stable regardless of the market dynamics.[\[2\]](#cite-id-x02b39auq3)  
$$widget0 [YOUTUBE@VID](6iXhqKx9aIA)$$  
  
# BTRFLY Token  
  
BTRFLY is the governance token of the Redacted ecosystem. It can be used to vote on Redacted governance proposals and locked for rlBTRFLY to earn BTRFLY inflation and protocol revenue. BTRFLY has a free-floating value that is partially based on the intrinsic value within the treasury and the revenues generated by the treasury, and as such can not be redeemable for the governance tokens in the treasury.[\[12\]](#cite-id-i976u3xz5ek)  
  
The token can be minted in 4 ways which include:  
  
* Minting  
* Bonding  
* Dao Fees  
* pBTRFL  
  
## Token Allocation  
  
![pasted image 0.png](https://ipfs.everipedia.org/ipfs/QmQzsRwFEFcK9PHWJA7aLsB7ZqLpH7vhKS4877W2769Dd1)BTRFLY had an initial supply of 100,000 which was distributed through a triple Dutch Auction where OHM, CRV, and CVX were raised. At launch, BTRFLY was a rebasing token whose total token supply was consistently increasing due to staking rebase emissions, bond emissions, and DAO fee emissions.[\[11\]](#cite-id-uuxvasep6ap)  
$$widget0 [YOUTUBE@VID](fNMrzndsibA)$$  
  
## rlBTRFLY  
  
rlBTRFLY are revenue-locked BTRFLY. rlBTRFLY enables BTRFLY holders to lock their tokens for a 16 to17 week period to earn revenue from Redacted's treasury and product ecosystem. Users can also lock BTRFLY v2 tokens for rlBTRFLY to earn revenue and inflationary BTRFLY pulse emissions.[\[8\]](#cite-id-1kjov7xkfrm)  
  
After locking for rlBTRFLY, users are rewarded in ETH which is gotten from Redacted’s treasury and ecosystem of products.  
  
* 50% of Hidden Hand’s revenue goes to rlBTRFLY holders.  
* 42.5% of Pirex’s revenue goes to rlBTRFLY holders.  
  
# ![pasted image 0 (1).png](https://ipfs.everipedia.org/ipfs/QmV4ptRAMnvTMYyATq2B8ShHgrb4Bbuhi6X55ZodPvXqDD)Products  
  
## Hidden Hand  
  
Hidden Hand is a marketplace for governance incentives, also known as "bribes." Protocols can use Hidden Hand to improve governance processes and engage voters. When using Hidden Hand, [DeFi](https://iq.wiki/wiki/defi) protocols will need to deposit a bribe into the Hidden Hand smart contract, these bribes are then sent back to users as a reward for their voting power.[\[3\]](#cite-id-p77tgae3p9)  
  
Hidden Hand will automatically choose the vote distribution with the highest bribe value. Otherwise, users will be rewarded in proportion to the size of their vote for a given bribe. Bribe rewards are distributed at the end of each voting period to users who have locked their veTokens.[\[4\]](#cite-id-6ou90pttrdd)  
  
### Hidden Hand Fee Structure  
  
Hidden Hand charges its users zero fees for interacting with the Marketplace. Instead, Hidden Hand takes a 4% fee on all bribes added to the protocol, this way it generates its revenue and sends half to its treasury, and half is sent to lockers of $BTRFLY for locking their tokens in the protocol.[\[5\]](#cite-id-kepdh2x2gxh)[\[6\]](#cite-id-3oqvuu3p2lm)  
  
For example, Vesta Finance uploads a $1M bribe in VSTA to the Frax Hidden Hand market. Hidden Hand will take a 4% fee on the $1M, a $40,000 turnover. The fee is then split in half between the treasury and lockers of rlBTRFLY, which will be claimable every 2 weeks. After the bribe is added, veFXS holders could then vote for the Vesta gauge on Hidden Hand and split a $960,000 pool of VSTA rewards.[\[7\]](#cite-id-vtx1ipo8sd)  
  
## $$widget0 [YOUTUBE@VID](6KxwDGKlgmc)$$Pirex  
  
Pirex creates liquid wrappers that allow for auto-compounding and the tokenization of future yield/vote events. The Pirex ecosystem includes applications built on top of Pirex liquid wrappers that increase the utility of governance tokens for users, enable novel utility, and provide yield opportunities that are only available to Pirex wrappers users. pxCVX (Pirex vlCVX) was the first Pirex liquid wrapper, with more to follow.  
  
The Pirex team plans to launch several applications built on top of the Pirex protocol by the end of 2022, which will showcase the broad utility and flexibility of the protocol and the wide range of applications that can be built on top of it.  
  
Pirex also offers developers incentives (in the form of referral fees and grants) to those wishing to build applications on the Pirex protocol. This will provide builders with a straightforward sustainable path toward building in the Pirex ecosystem.  
  
Pirex is considered a Redacted incubated product. 75% of fees received by Pirex are paid to Redacted, of which 42.5% are distributed to rlBTRFLY Holders, 42.5% to the Redacted Treasury, and 15% to the DAO Reserves.  
$$widget0 [YOUTUBE@VID](Zs3znj56pXk)$$  
  
### Convex  
  
Convex is Pirex liquid wrapper for vote-locked Convex (CVX). It is a platform built to boost rewards for CRV stakers and liquidity providers. Convex boosts rewards thanks to the large amounts of veCRV that are under its control and the distribution of its CVX token as additional rewards.[\[8\]](#cite-id-1kjov7xkfrm)  
  
pxCVX is a pure liquid wrapper, with each pxCVX backed by 1 vlCVX, and all of the value from that vlCVX is passed onto the pxCVX holder. Its gauge votes will focus on maximizing returns to pxCVX holders and not bootstrap other Pirex or Redacted products. It is a vlCVX liquid wrapper that has the goal of increasing liquidity, yield, and utility for CVX holders.  
  
pxCVX allows CVX holders to have a liquid, tradeable version of vlCVX which is 1:1 backed by vlCVX and allows for auto compounding of yield and tokenization of future yield/vote events.  
  
There are three modes to deposit in Pirex for **pxCVX**, which are Standard Mode, Easy Mode, and Expert Mode. There are also two ways to exit pxCVX positions, which are:  
  
* Redacted will seed and maintain a pxCVX/CVX LP on Curve  
* pxCVX can be unlocked for CVX.  
  
### vlCVX  
  
vICVX is vote-locked CVX, the is the governance token of Convex. CVX can be locked for 16 to 17 weeks for vote-locked CVX (vlCVX) which cannot be traded or transferred. vlCVX holders can claim a portion of Convex platform fees and can vote for Curve governance proposals, including bi-weekly Curve gauge weight votes. vlCVX holders vote on Convex governance proposals to decide how Convex’s aggregate veCRV voting power will vote on Curve governance proposals.[\[9\]](#cite-id-5k6b10ovrqw)  
  
Pirex vlCVX is currently only on Ethereum mainnet but plans to go multi-chain shortly.[\[10\]](#cite-id-hxgsu60fzy4)  
  
# BTRFLY v2 Migration  
  
Redacted transitioned from rebasing tokenomics towards a fixed supply cap more commensurate with its focus on products such as Hidden Hand and Pirex. Both of which generate organic revenue for the protocol. This shift towards more sustainable tokenomics revolves around rlBTRFLY’s distribution of real yield from treasury farming and revenue from Redacted's products.  
  
The BTRFLY has gone from having an infinite supply to have a limited supply. At migration, the new supply was calculated as BTRFLY v2 Total Supply = (BTRFLY v1 Total Supply / 22.5%) / BTRFLY v1 Index, rounded up to the nearest 50k. [\[13\]](#cite-id-dxoum4m7n5b)  
$$widget0 [YOUTUBE@VID](bPXobpnK8qA)$$  
  
# DAO  
  
Redacted is governed by its community, which is the BTRFLY holders. The community decides the direction of Redacted, and there is also an established governance process that allows the ecosystem to evolve. This process comes in stages starting with, Drafting a Proposal, Requesting Feedback, Creating RIP based on RFF, RIP Snapshot Submission, and Linking Snapshot to a revised Commonwealth proposal.[\[15\]](#cite-id-7wt8jqjqhs)  
  
## Treasury  
  
The treasury is where all of Redacted's revenue and governance power is stored. Most revenue gotten by Redacted is generated through various forms such as bonds, bribes, and yield farming strategies.[\[16\]](#cite-id-x6pfx1ip46)  
  
# Partners  
  
Protocols that integrate Redated products include Abacus, [Alchemix](https://iq.wiki/wiki/alchemix), Aura, [Balancer](https://iq.wiki/wiki/balancer), Berachain, Biba, [Chainlink](https://iq.wiki/wiki/chainlink), Citadel Dao, [Curve Finance](https://iq.wiki/wiki/curve-finance), Commonwealth, Convex, dAMM Finance, Debt Dao, [Dopex](https://iq.wiki/wiki/dopex), Drops Dao, [JPEG'd](https://iq.wiki/wiki/jpegd), Fiat Dao, Floor, [Frax Finance](https://iq.wiki/wiki/frax-finance), [Lido](https://iq.wiki/wiki/lido-dao), Mover Dao, New Order, [Olympus](https://iq.wiki/wiki/olympus-dao), [Perpetual Protocol](https://iq.wiki/wiki/perpetual-protocol), Ribbon, [Stake Dao](https://iq.wiki/wiki/stake-dao), Stargate, Tokemak, Tribe, Umami, Utopia Labs, Velodrome, and Vesta.[\[20\]](#cite-id-q34h6qdmr8)

Redacted is a product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols.

[REDACTED]

Chainstack's mission is to create the most accessible and easy to use platform to build, run and scale blockchain applications. They help accelerate the adoption of blockchain technology by enterprises and the world at large by offering managed blockchain services that make it simple to join, launch, and scale decentralized networks and applications.  
  
Chainstack provides unified access to multi-chain node and data APIs, distributed compute and storage, identity management and security testing, and the ever-expanding list of services and tools to build amazing applications across all prominent Web3 protocols. Their enterprise-grade platform has intuitive developer experience, battle-tested reliability, predictable pricing, and outstanding customer support.

From startups to large enterprises, thousands of businesses of all sizes use Chainstack’s software and APIs to build, run, and scale blockchain applications.

Chainstack (Blockchain Infrastructure Company)

# What is ARK?  
  
**ARK** is a [decentralized](https://iq.wiki/wiki/decentralized-application) ecosystem designed to increase user adoption of blockchain technology. The ARK Crew, a self-named development team, has outlined clearly in their whitepaper that they plan on bringing blockchain to the masses by building "A Fast Secure Core Technology" with "Practical Services for Real People".  
  
To put it simply, the ARK Crew is creating **a sandbox ecosystem where businesses and other users can create their blockchain** from a clone of ARK in just a few clicks. To make this ecosystem as widely accessible as possible, the Crew is focusing heavily on providing a good user experience and incorporating as many other blockchains and coding languages as possible.[\[3\]](#cite-id-s99cpc12g7p)  
  
# How does it work?  
  
The ARK Crew is building several notable features into their ecosystem – all with the unified, underlying goal of making blockchain more accessible to the world:  
  
* SmartBridges  
* Alternative Programming Languages  
* Push Button Deployable Blockchains  
  
SmartBridges are used to "bridge" separate blockchains together through the ARK core platform. ARK becomes the intermediary between different chains allowing them to communicate with one another and trigger events across chains – something that isn’t currently possible.  
  
**Enabling SmartBridges on a chain is as easy as inserting a snippet of code that ARK provides.**  
  
Exchanges like Coinbase and Shapeshift also benefit from SmartBridges. These platforms can use **encoded listeners** to act as a medium for SmartBridge transactions while still charging their normal transaction fees.  
  
With the integration of **alternative programming languages,** almost any developer can feel comfortable building on top of ARK. As of this writing, ARK already includes support for:  
  
* Python  
* Elixer  
* RPC  
* Java  
* .NET  
* Go  
* PHP/Laravel  
* TypeScript API  
* Nucleic  
* Ruby  
* Swift iOS  
  
R, C, Advanced PowerShell, Rust, Kotlin, and C++ support will be available soon.  
  
**Push button deployable blockchains** can be used to easily fork ARK and create your project. These forks are perfect for start-ups and come with many of the existing ARK features out-of-the-box. Even better, chains deployed through this feature **automatically have SmartBridges equipped.**  
  
ARK Developed a Game and Application with Html5 to launch on ARK Mobile Wallet.[\[1\]](#cite-id-f0dj6v9ihtb)  
  
# Delegated Proof-of-Stake  
  
ARK operates using a Delegated Proof-of-Stake (DPoS) consensus algorithm. Unlike Bitcoin, in which miners with expensive rigs secure network transactions, the ARK network is secured by delegates. There are hundreds of potential delegates, but token holders in the ARK ecosystem continuously vote on who gets to be an active, forging delegate. **Only 51 delegates were cut.**  
  
As a token holder, you’re only allowed to vote for one delegate at a time. The **fee to vote/unvote is just 1 ARK,** so it’s advantageous to at least vote once for a delegate you support. The more ARK tokens you own, the more powerful your vote.  
  
Reputable delegates have written proposals in which they document how they will operate. Many of the popular ones include profit sharing from the rewards they receive when they forge new blocks. **If you vote for a delegate with profit sharing, you effectively get dividends over time.**  
  
Other delegates are run to **fund development projects giving voters an equity stake or providing services on applications that may be unprofitable otherwise.** With your vote, the choice is entirely your own.  
  
The ARK ecosystem was launched with **125 million ARK** in the genesis (first) block. Delegates are awarded 2 ARK for each block that they forge, and a block is forged about every 8 seconds.  
  
Assuming the 8-second block time doesn’t change, the scheduled inflation of ARK will be 6.31% in the first year, 5.93% in the second year, and will continue to decrease to 4.02% in the tenth year. This is a much less dramatic drop than both [Lisk](https://iq.wiki/wiki/lisk) and [Ethereum](https://iq.wiki/wiki/ens).  
  
The 8-second block time puts ARK on the faster end of transaction times for cryptocurrencies. To put it in comparison, Bitcoin has 10-minute block times, Litecoin’s are 2.5 minutes, and [Ethereum](https://iq.wiki/wiki/ens) transactions typically take 14 seconds.  
  
Currently, the ARK network can process **25 transactions per block.** The Crew has stated in the whitepaper, though, that they plan on making this more scalable. They’ll do this by lowering the block time and increasing the number of transactions that are in each block.  
  
# Fees  
  
To send ARK, you have to pay a **transaction fee of 0.1 ARK.** This amount is going to change as the network grows and/or becomes more efficient. To register as a delegate, you need to pay 25 ARK and, as I mentioned earlier, casting a vote for a delegate currently costs 1 ARK.  
  
However, with the next core update, these fees will be reduced to:  
  
* ending ARK: 0.01 ARK  
* Voting/Unvoting: 0.02 ARK  
* Registering a delegate: 10 ARK  
  
All fees are paid to the forging delegate who processes the block containing those fees.[\[2\]](#cite-id-4fxer4wf3ja)

ARK is a decentralized ecosystem designed to increase user adoption of blockchain technology.

**Ambrosus** is a Proof-of-Authority public Layer One [blockchain](https://beta.everipedia.org/wiki/blockchain) [protocol](https://beta.everipedia.org/wiki/ocean-protocol) that has the unique capability to securely store large datasets. Ambrosus is considered to be a low-cost and ultra-secure L1 [blockchain](https://beta.everipedia.org/wiki/blockchain) scaling solution with high throughput and [decentralized](https://beta.everipedia.org/wiki/decentralized-application) storage. Designed for enterprises, optimized for the future of [DeFi](https://beta.everipedia.org/wiki/defi-dad), [NFTs](https://beta.everipedia.org/wiki/non-fungible-token-nft), and IoT.[\[6\]](#cite-id-mr5irv0pzu)[\[7\]](#cite-id-09nhq9auddcu) 
 
On the 23rd of June, 2022 Ambrosus Core is announced its final network push to switch to the new [Ethereum](https://beta.everipedia.org/wiki/ethereum-classic) client OpenEthereum. Nodes are required to install the latest update in order to remain operational.[\[8\]](#cite-id-zl6i8yda9gn) 
 
# Overview 
 
Ambrosus is an end-to-end integrated solution that includes hardware, software, a protocol layer and developer tools. The Ambrosus protocol and the software layer on top of it are built on the [Ethereum](https://beta.everipedia.org/wiki/ens) [blockchain](https://beta.everipedia.org/wiki/blockchain) as well as other distributed technologies that allow information from IoT devices to be recorded onto a decentralized network. 
 
Ambrosus uses a novel incentive mechanism called the Amber token to provide these functions in a [decentralized](https://beta.everipedia.org/wiki/decentralized-application) manner. The Amber token is used to keep information on the Ambrosus network up to date as products move across the supply chain without requiring a centralized actor to maintain resources. This token enables a transparent ecosystem with trustworthy data that can be freely accessed by interested parties. 
 
A key attribute of the Ambrosus network is its comprehensive support for IoT hardware and sensors, which provides the ability to tag and monitor physical objects and transmit data associated with them.[\[9\]](#cite-id-2aq72uuex8f)[\[10\]](#cite-id-n5kmd8d0kmh) 
 
# Ambrosus Core 
 
Ambrosus Core is the foundation that is responsible for network maintenance, upgrades, new [Decentralized Finance](https://beta.everipedia.org/wiki/decentralized-autonomous-organization-dao) features, core governance and funding ecosystem development. The foundation ensures all tools are provided to best embed the ecosystem into the world of [blockchain](https://beta.everipedia.org/wiki/blockchain) storage, [crypto](https://beta.everipedia.org/wiki/cryptocurrency) and [DeFi](https://beta.everipedia.org/wiki/value-defi).[\[11\]](#cite-id-b1msnagvui) 
 
## Funding 
 
On February 10, 2022, Ambrosus Ecosystem announced the launch of a substantial developer funding program of $10 million for developers deploying [decentralized finance (DeFi)](https://beta.everipedia.org/wiki/decentralized-information-asset) applications and other decentralized solutions on the Ambrosus [blockchain](https://beta.everipedia.org/wiki/blockchain). The grant was distributed among: 
 
* Startups: developers and entrepreneurs looking to launch a dApp on AMB-NET. 
* Open-source developers: individuals and teams developing open-source products on top of AMB-NET. 
* Educators: those who create unique and informative content for new Ambrosus Ecosystem participants. 
 
The grant was raised to aid in embedding Ambrosus at the center of DeFi developments.[\[4\]](#cite-id-9qrfmr1gicp)[\[5\]](#cite-id-tsf24nhd1kq) 
![10468ef2c6c5-ambrosus_core_announces__a__10_million_funding_initiative_to_boost_decentralized_finance.webp](https://ipfs.everipedia.org/ipfs/QmWAHfnL7uMKeZ4mhGaMFrafxMGax1mXzkYMNJJurfDEcT) 
 
# Ambrosus Token 
 
The heart of the Ambrosus network is the Amber token, an [Ethereum](https://beta.everipedia.org/wiki/ens) [ERC-20](https://beta.everipedia.org/wiki/erc-20) contract-compliant token that underpins all transactions on the Ambrosus network. Amber is the world's first data-bonded token. 
 
It is used to bind continuously updated and verified logistical, environmental and biological data from the supply chain to its corresponding product as it travels between counterparties. It is also used to carry out transfers of value within the ecosystem. 
 
As such, the token performs both the utility and transfer of value functions within the ecosystem of applications built on top of the Ambrosus protocol. Amber tokens remain bonded to a product until a defined expiration date or until the “termination event”, which can be defined by a purchase, delivery or any other event on the supply chain. [\[1\]](#cite-id-t3o5dgy8nhn) 
 
# Ambrosus Protocol 
 
The Ambrosus protocol is built to support high data loads from hardware devices and network participants with substantially higher capacity than standard [Ethereum](https://beta.everipedia.org/wiki/ens) software implementations. 
 
The Ambrosus protocol is constructed from three two components: 
 
**Measurements Repository:** Built around the Measurements Smart contract, this component manages a distributed dataset for product-specific measurements that are built on top of a programmable blockchain (Ethereum) and distributed file system (IPFS). 
 
**Amber token:** The data-bonded token architecture intrinsically ties data to AMB transactions on the blockchain, connecting chains together as products move through the supply chain.[\[2\]](#cite-id-um0p9znela) 
 
# Team 
 
The Ambrosus team members include: 
 
* Rory Gale-Financial Analyst 
* Lena Kail-Influencer Marketing Manager 
* Dmytro Karachan-Digital Marketing Manager 
* Kevin Keyner - Head Community Manager 
* Lang Mei - CEO 
* Dr. Stefan Meyer - Co-founder and Managing Partner 
* Igor Stadnyk - CTO 
* Connor McDonald - US Community Manager 
* Alina Tustanovska - Delivery manager 
* Andrii Moiseienko - Product Manager[\[3\]](#cite-id-32cac3ilbtg)

Ambrosus is a Proof-of-Authority public Layer One blockchain protocol 

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