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

**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.  
  
<br>  
<br>  


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

**Polygon** is the leading [Ethereum](https://iq.wiki/wiki/ethereum) scaling solution. Polygon has achieved scale by utilizing sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of [Proof-of-Stake (PoS)](https://iq.wiki/wiki/proof-of-stake) validators. [\[1\]](#cite-id-qn4ekiis2e9)[\[2\]](#cite-id-hrdw3ki36dh) As of August 2022, more than 37,000 dapps already use Polygon architecture. [\[28\]](#cite-id-uked4dqwqgk)  
  
In February 2022, Polygon raised about $450 million through a private sale of its native [MATIC](https://iq.wiki/wiki/matic) token in a funding round led by Sequoia Capital India.[\[23\]](#cite-id-rm4zaxgwb8)  
  
In June 2022, Polygon was chosen by Disney to participate in the 2022 Disney Accelerator, a business development program designed to accelerate the growth of innovative companies from around the world. 2022 Disney Accelerator class is focused on building the future of immersive experiences and specializes in technologies such as augmented reality (AR), [non-fungible tokens (NFTs)](https://iq.wiki/wiki/non-fungible-token-nft), and artificial intelligence (AI) characters.[\[23\]](#cite-id-rm4zaxgwb8)  
  
Shortly after, the Polygon ream revealed zkEVM, the first EVM-equivalent of Layer 2 ZK (zero-knowledge). [\[25\]](#cite-id-f4phipgfaz)  
  
# Overview  
  
Founded in 2017, Polygon (Previously Matic Network) is a protocol and a framework for building and connecting Ethereum-compatible [blockchain](https://iq.wiki/wiki/blockchain) networks. Polygon solves problems associated with blockchains, like high gas fees and slow speeds, without lowering security.[\[5\]](#cite-id-sz949jvvyco)[\[6\]](#cite-id-f63u4v6j4te)  
  
## Matic Network  
  
Initially, the platform was launched as Matic Network in 2017 with a vision to help create a better, open world, primarily by improving Ethereum infrastructure. During three years, the team has implemented and offered Matic Plasma Chains, a production-ready Ethereum Layer 2. They also implemented and offered Matic PoS Chain, a permissionless, EVM-compatible, PoS-secured Ethereum sidechain that relies on Ethereum security for validator staking and checkpoints. During these years, Matic onboarded more than 80 applications, including Polymarket, Aavegotchi, Neon District, SkyWeaver, Cometh, EasyFi with more being added. [\[7\]](#cite-id-kpp71x1r6g)  
  
## Polygon  
  
In February 2021, Matic Network revealed it became Polygon, the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. [\[8\]](#cite-id-o0ci3scdaqh)  
  
Polygon differs from its predecessor in that its approach is now multi-faceted. Polygon seeks to transform Ethereum into a true multi-chain ecosystem that benefits from all kinds of Layer-2 scalability, not just the initial implementations provided by the Matic Network. Polygon presents a suite of solutions to Ethereum’s scalability crisis - hence the ‘poly’ portion of the project’s updated nomenclature. Polygon still deals primarily with sidechain connectivity and runs its main PoS chain as of April 2021, but it has plans to expand its toolbox to include other Layer-2 solutions like zkRollups and Optimistic Rollups, standalone sidechains, enterprise chains, shared security chains, as well as interchain communication protocols. As such, Polygon describes itself as a Swiss Army knife of Ethereum scaling and infrastructure development. [\[9\]](#cite-id-ftshqk5pp7g)  
  
In May 2021, blockchain data for Polygon arrived on the Google Cloud Platform. Integration with Google BigQuery enables developers to analyze on-chain data on Polygon in a more simple way. With the BigQuery support, Polygon's datasets have been listed in the Google Cloud Marketplace under the public financial services category. Potential benefits of the integration are said to include the monitoring of gas fees and smart contracts and determining the most popular tokens or applications on the network. [\[10\]](#cite-id-zc2inadhp6)  
  
In August 2022, more than 37,000 [decentralized apps (dApps)](https://beta.everipedia.org/wiki/decentralized-application-dapp) have been built on Polygon, according to the most recent data from Alchemy[\[29\]](#cite-id-v2ounq1vzb), the world's leading Web3 development platform. That represents a fourfold increase since the beginning of 2022 and almost twice as many as there were in March 2022.[\[28\]](#cite-id-uked4dqwqgk)  
  
# Tech  
  
Polygon's architecture can best be defined as a four-layer system composed of the Ethereum layer, security layer, Polygon networks layer, and execution layer. [\[11\]](#cite-id-5e6crojlhvw)  
  
The Ethereum layer is essentially a set of [smart contracts](https://iq.wiki/wiki/smart-contract) which are implemented on Ethereum. These smart contracts handle things like transaction finality, staking, and communication between Ethereum and the various Polygon chains. The security layer runs side by side with Ethereum and provides a "validators as a service" role which allows chains to benefit from an additional layer of security. Both the Ethereum and Security layers are optional.  
  
Beyond this, there are two mandatory layers. The first is the Polygon networks layer, which is the ecosystem of blockchain networks built on Polygon. Each of these has its own community and is responsible for handling local consensus and producing blocks. The second is the Execution layer, which is Polygon's Ethereum Virtual Machine (EVM) implementation used for executing smart contracts.  
  
Polygon uses a variety of technologies to achieve this expanded vision, these include:  
  
* POS Chain: Polygon's main chain is an Ethereum sidechain known as the Matic POS Chain, which adds a Proof-of-Stake (POS) security layer to blockchains launched on Polygon.  
* Plasma Chains: Polygon makes use of a scaling technology known as Plasma to move assets between the root chain and child chains via Plasma bridges.  
* ZK-rollups: An alternative scaling solution used to bundle a large number of transfers off-chain into a single transaction, using zero-knowledge proofs for the final public record on the Ethereum main chain.  
* Optimistic rollups: A solution that runs on top of Ethereum to facilitate near-instant transactions through the use of "fraud proofs".  
  
# Use Cases  
  
## Payments  
  
The Polygon crypto platform is designed to allow decentralized applications (DApps) to speed up payments, enabling nearly instant payment settlement through a specialized application programming interface (API) and software development kit (SDK) integration. This process allows dApps, merchants, and users to instantly accept or pay in any type of cryptocurrency, though usually in [ERC-20](https://iq.wiki/wiki/erc-20) tokens or Ethereum (ETH). This system is being rolled out in three distinct phases:  
  
1. Ethereum (ETH) and ERC-20 token payments.  
2. Cross-chain multi-asset token transfers and payments utilizing atomic swaps in partnership with liquidity providers.  
3. Fiat-based payment system employing fiat liquidity providers. [\[12\]](#cite-id-yiu8q53ufv)  
  
## Lending Platform  
  
Polygon is building a mechanism to allow merchants to analyze the credit ratings of users who have signed up to use the platform by assessing their transaction history. This functionality is carried out in partnership with Dharma.io. The leading lending protocol [Aave ($AAVE)](https://iq.wiki/wiki/aave) has more than $1 billion liquidity locked on its Polygon markets with more than 8000 users. [\[13\]](#cite-id-u43r2ihykv)  
  
## Games  
  
Polygon’s Layer-2 sidechain scaling solution stands to make blockchain-based gaming faster and perform better. Blockchain gaming lags behind traditional PC and console gaming systems because of poor transaction speed and high network latency. With Polygon’s Commit Chain scaling technology and the Ethereum network working together, developers and gamers will be able to build and play games more effectively. Polygon's ability to help grow the blockchain gaming industry could not come at a better time, as Non-Fungible Tokens (NFTs) and NFT marketplaces are driving the popularity of the blockchain and crypto industry at large, with many gamers buying, selling, and trading different types of in-game NFTs. Top gaming and NFT dapps like Aavegotchi, Neon District, Zed Run, and Cometh have scaled their user experiences with Polygon. [\[14\]](#cite-id-5tt237e3mtr)  
  
## Other Use Cases  
  
Polygon is also built for many other use cases, like helping realize the fast settlement times needed to allow decentralized exchanges (DEXs) to offer users faster and cheaper trading. [QuickSwap](https://iq.wiki/wiki/quickswap), Dfyn, and ComethSwap are some of the Polygon DEXs that are witnessing high volumes and user activity. Protocols like Curve Finance and mStable have also ensured low cost and low slippage [stablecoin](https://iq.wiki/wiki/stablecoin) swaps. Additionally, Polygon’s plasma scaling solution is able to expedite cross-chain atomic swaps of tokenized and non-tokenized assets. Most dApps need a way to sign transactions without submitting private keys due to user privacy concerns. Because of its scalability enhancements, Polygon helps enable an open identity framework for dApp design and use. [\[15\]](#cite-id-femyuex19xn)  
  
# MATIC Token  
  
Although Polygon has dramatically expanded on the vision laid out by Matic Network, it still uses the same utility token, known as MATIC.[\[16\]](#cite-id-zu9sdeq8eto)  MATIC is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem.  
  
At its initial private sale in 2017, 3.8 percent of MATIC's max supply was issued. In the April 2019 launchpad sale, another 19 percent of the total supply was sold at $0.00263 per token to generate $5 million.  
  
The remaining MATIC tokens are distributed as follows:  
  
* Team tokens: 16 percent of the total supply.  
* Advisors tokens: 4 percent of the total supply.  
* Network Operations tokens: 12 percent of the total supply.  
* Foundation tokens: 21.86 percent of the total supply.  
* Ecosystem tokens: 23.33 percent of the total supply.  
  
According to the release schedule, all the tokens will be released by December 2022. [\[17\]](#cite-id-m5tesx1mih)  
  
## Matic Wallet  
  
MATIC can be stored in the Matic Wallet, instantly giving holders the option to stake their tokens and manage their own investments directly. Matic Wallet is designed using Polygon’s MoreVP technology as an easy-to-use solution for MATIC token holders to securely and simply manage their crypto finances. The wallet is to integrate with WalletConnect to ensure the safekeeping of a user’s private keys, and to provide access to other Polygon features. The wallet also allows users to connect with various dApps, stake their MATIC tokens, and hold other ERC-20 tokens.  
  
## Polygon ID  
  
Polygon ID offers advanced privacy that can still run on a user’s device on the blockchain while offering protection from tracking, targeting, and surveillance. Polygon ID is also a complete platform that can be used to construct a variety of identity and trust services, be it birth certificates, driver's licenses or resident permits. Polygon ID has applications for different models of decentralized governance, including sybil-resistant liquid democracies, quadratic voting schemas, and reputation-based governance that encompasses decentralized sybil resistance scoring, improved representation, and domain-expertise reputation. The technology can also be used to power private and censorship-resistant P2P communication and interactions.[\[23\]](#cite-id-rm4zaxgwb8)  
  
As of April 2022, Polygon ID is still under development. The solution will be structured as a set of tools, platform services and examples for developers to learn, test and integrate with their apps or dApps leveraging Polygon ID’s unique on-chain capabilities.[\[23\]](#cite-id-rm4zaxgwb8)  
  
# Projects  
  
A few of the 37,000 dapps that use Polygon architecture include:  
  
* [QuickSwap](https://beta.everipedia.org/wiki/quickswap) (QUICK): permissionless Decentralized Exchange (DEX).  
* [IQ.wiki](https://iq.wiki/wiki/iqwiki) (IQ): cryptocurrency encyclopedia  
* Aavegotchi: DeFi based crypto-collectibles game; players stake NFT’s with interest generating tokens in the Aavegotchi Metaverse.  
* [Frax Finance](https://beta.everipedia.org/wiki/frax-finance), the leading algorithmic stablecoin protocol.  
* Decentral Games (DG): Casino-style games built in the Decentraland metaverse, where you can play your favorite card games with your chosen avatar.  
* SportX (SX): Place your bets on your favorite sporting events with SportX and earn more with weekly contests on this popular sports betting platform.  
* EasyFi (EASY): A fork of Compound that brings multiple DeFi products under one roof with lending, borrowing, staking, and more available in one decentralized application (DApp).  
* [Neon District](https://iq.wiki/wiki/neon-district): Cyberpunk RPG adventure game that allows players to battle it out in a sci-fi dystopia and win in-game NFT’s.  
* Polymarket: One of the most popular Prediction Markets in the blockchain space, Polymarket has redefined the space with its smooth UX.  
  
Some projects utilizing Polygon include [OpenSea](https://beta.everipedia.org/wiki/opensea), [Decentraland](https://beta.everipedia.org/wiki/decentraland), [1INCH](https://beta.everipedia.org/wiki/1inch), [Beefy.Finance (BIFI)](https://beta.everipedia.org/wiki/beefyfinance), Atari, Zora (NFT Marketplace) and others. [\[18\]](#cite-id-a1yjij576si)  
  
# Polygon ZK  
  
Polygon is developing a suite of zero-knowledge rollups (ZK rollups) to increase throughput on Ethereum without sacrificing decentralization or security. ZK rollups process transactions off-chain and reduce computation on the base layer to achieve scalability. The Polygon has already created four ZK rollups, including Zero, Hermez, Miden, and Nightfall.[\[24\]](#cite-id-exf3o1q6nvu)  
  
In July 2022, Polygon announced zkEVM, a proprietary Ethereum-compatible scaling solution. As with any other ZK-based scaling solution, zkEVM is a Layer-2 protocol that rolls up a large batch of transactions and “proves” all of them to Ethereum with a single ZK validity proof. The team has also open-sourced the code for Polygon zkEVM. Soon, there will be a public testnet, which will be an opportunity to test the solution, and to find areas where it needs to be improved.[\[25\]](#cite-id-f4phipgfaz)  
  
# India's Crypto COVID Relief Fund  
  
Sandeep Nailwal, the co-founder of Polygon, took to Twitter on April 24, 2021, to announce the creation of a crypto COVID-19 relief fund to help those in need.[\[19\]](#cite-id-hnzss583g8)  
  
On May 13, Vitalik Buterin, the founder of the world’s second-largest cryptocurrency Ethereum (ETH), donated around $1 billion to India’s Covid Crypto Relief Fund. [\[20\]](#cite-id-vclwwbe7iq)  
  
Buterin transferred 500 ETH and 50 trillion Shiba Inu coins into the fund. Besides Buterin, Australian cricketer Brett Lee also donated one Bitcoin (BTC) to India's Crypto Covid Relief Fund on April 28, 2021.  
  
Apart from Ethereum (ETH), Shiba Inu coins, and Bitcoin (BTC), the fund is accepting donations in other cryptocurrencies including Ripple, Dogecoin, and TRON. In a bid to keep the fund accountable and transparent, Nailwal made a Google sheet to maintain a record of those who are donating cryptocurrencies. This, according to him, will be helpful if “needed for regulatory filings.”  
  
The cryptocurrencies received by the fund are being converted to the Indian rupee to buy oxygen, food, vaccines, and other medical kits. To convert these cryptocurrencies into domestic currency, Nailwal has reached out to India’s biggest exchanges like WazirX, CoinDCX, and Bitbns. And to meet regulatory compliance, he has also enlisted the help of top chartered accountants and auditors in India.  
  
# Polygon x Disney  
  
On July 14, 2021, Disney announced it had selected Polygon, alongside Lockerverse and Flickplay, to join its Accelerator program — which aims to develop technologies to create new storytelling experiences.  
Expanding on this, Disney said the Accelerator program intends to make use of new technologies, including augmented reality, non-fungible tokens, and artificial intelligence characters.[\[26\]](#cite-id-024od2wkpunh)  
  
MATIC jumped 20% on the news to close the day at $0.71 while also lifting its price decisively above the 50-day moving average for the first time since late March.[\[26\]](#cite-id-024od2wkpunh)[\[27\]](#cite-id-265z6zscvtz)  
  
# Funding  
  
In an interview with Mint, Sandeep Nailwal, the co-founder of Polygon, said:  
  
> "By April 2018, we set up the company and raised some small funds from friends and family and started building the product. That round was just $150,000. After that, we did another small round of around $500,000. After that, we did an initial exchange offering with Binance, where we raised $5 million." [\[21\]](#cite-id-vyg5hs12l8)  
  
In May 2021, a US-based entrepreneur and tech billionaire Mark Cuban invested an unrevealed amount in Polygon. Cuban's website said,  
  
> "Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 250+ Dapps, \~76M txns and \~790K unique users." [\[22\]](#cite-id-jqgnn498yv)  
  
In February 2022, Polygon raised about $450 million through a private sale of its native MATIC token in a funding round led by Sequoia Capital India with participation from SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and prominent investors like Alan Howard (co-founder, Brevan Howard) and Kevin O’Leary (Mr. Wonderful from ABC's Shark Tank). The funds will allow Polygon to continue investing in cutting-edge zero-knowledge (ZK) technology that will be key to onboarding the next billion users to Web3.[\[23\]](#cite-id-rm4zaxgwb8)  
  
# Team  
  
* [Jaynti Kanani](https://beta.everipedia.org/wiki/jaynti-kanani) \- Co\-founder  
* [Sandeep Nailwal](https://beta.everipedia.org/wiki/sandeep-nailwal) - Co-founder  
* [Anurag Arjun](https://beta.everipedia.org/wiki/anurag-arjun) \- Co\-Founder  
* [Mihailo Bjelic](https://iq.wiki/wiki/mihailo-bjelic) \- Co\-Founder  
  
## Advisory Board  
  
* Hudson Jameson (Ethereum Foundation)  
* Ryan Sean Adams (Bankless)  
* Anthony Sassano (EthHub)  
* Pete Kim (Coinbase)  
* John Lilic (ex ConsenSys)

Polygon is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation.

Polygon

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)

Mysterium is a decentralized P2P VPN using other tools that allow users to browse the internet freely, earn by sharing your connection, and build censorship-resistant applications.[\[1\]](#cite-id-p0mauyrxmoc)[\[2\]](#cite-id-btdwkbcjej)  
  
## Mysterium dVPN  
  
Mysterium Virtual private network (VPN) is the first network use case in action. The dVPN is the flagship product and showcases the potential of our residential IP network. Some of its unique features include:  
  
* **Trustless technology** - Payments between consumers and service providers are settled on blockchain; Users can enter or leave the network in a permissionless manner.  
* **No centralised logs** - Mysterium Network is a privacy solution at its core. It’s technologically impossible for Mysterium to store logs centrally, as traffic is distributed across our global network of residential IPs.  
* **Pay as you go** - Using the micropayments system, Hermes Protocol, users only pay for the gigabytes actually used. No subscriptions, no monthly fees – just minute-by-minute payments.  
* **Protect all your devices with smarter security** - OpenVPN and WireGuard© protocols hide your IP. Pay for your VPN service with cryptocurrency and you will always be anonymous.  
* **Access what you want, when you want**-The network is blind to borders. Users can select any IP from the global list and get unlimited access to worldwide content.[\[3\]](#cite-id-6dam0jcrhdj)[\[4\]](#cite-id-xcdr66odjrc)  
  
## Mysterium Node?  
  
Mysterium nodes are devices, such as a Raspberry Pi or computer, which help power and maintain the distributed network. Any user of the network can pay to connect to the node, providing them with a VPN service, access to the open internet and a secure line of communication.  
  
## Tokeneconomics  
  
MYST token is the utility token native to Mysterium Network. USers can pay and receive payment for VPN services in Mysterium Network with MYST.  
  
The MYST token serves two purposes :  
  
* Transfer of value  
    * VPN users pay node runners for VPN services in MYST.  
* Skin in the game  
    * Node runners stake tokens in MYST.[\[5\]](#cite-id-bgbr6eu1xq)[\[6\]](#cite-id-8rlv7rd8tg)  
  
## Social Media  
  
Mysterium has active accounts on Twitter[\[7\]](#cite-id-n9z2fvllekc), Telegram (software)[\[8\]](#cite-id-a1dw0dee2in), and YouTube.[\[9\]](#cite-id-k57kcsyy8k)

Mysterium is a decentralized P2P VPN using other tools that allow users to browse the internet freely, earn by sharing...

Mysterium

MATIC is an Ethereum token that powers [Polygon](https://beta.everipedia.org/wiki/polygon), a protocol and framework for building and connecting Ethereum-compatible blockchain networks. Polygon is a Layer-2 solution, designed to help scale the Ethereum network and improve its functionality.[\[1\]](#cite-id-3p2b99puxlf)  
  
## Overview  
  
MATIC is the native token of [Polygon](https://beta.everipedia.org/wiki/polygon). It is used to govern and secure the network by staking. It's the currency of Polygon apps that enables users to interact with hundreds of [decentralized applications](https://beta.everipedia.org/wiki/decentralized-application) involved in the Polygon ecosystem.[\[1\]](#cite-id-3p2b99puxlf)  
![image](https://ipfs.everipedia.org/ipfs/QmacjRx2AXW2SXiHTJsjML3PbwTg1qeUzXoAg5FLQhDeHQ)As MATIC is an ERC-20 token issued on Ethereum, it can also be purchased using a variety of decentralized exchanges such as [Uniswap](https://beta.everipedia.org/wiki/uniswap) and [Sushiswap](https://beta.everipedia.org/wiki/sushiswap). In addition, a user can use the official Polygon Bridge in order to exchange assets between Ethereum and Polygon.[\[2\]](#cite-id-x9921mp3g3i)  
  
There is a total supply of 10 billion MATIC tokens and, as of August 2022, over 7.4 billion have already been minted and released into the system. On January 18, 2022, Polygon went through the EIP-1559 upgrade, which introduced a deflationary effect on the token. As per the team, the MATIC tokens would go through annual burns that would remove 0.27% of the token’s total supply (about 27 million MATIC).[\[3\]](#cite-id-x4inj8wyfb)  
  
[Polygon](https://beta.everipedia.org/wiki/polygon) held its initial exchange offering (IEO) on Binance using the Binance launchpad in April 2019. They were able to sell 19% of their tokens at a rate of $.00263/MATIC through this launchpad. Shortly after this IEO, Polygon held 2 additional funding rounds. The first was a seed round where they sold 2.09% of the total MATIC tokens at a rate of .00079/MATIC. The second was a token sale dedicated to early supporters, where 1.71% of MATIC tokens were sold at a rate of $.00233/MATIC.[\[4\]](#cite-id-77pgevb7teb)  
  
The total breakdown of the MATIC token supply is as follows:  
  
* private sale (seed round + early supporters): 3.8%  
* Binance Launchpad: 19%  
* Team: 16%  
* Advisors: 4%  
* Staking Rewards: 12%  
* Foundation: 21.86%  
* Ecosystem: 23.33%  
  
The remaining 2.5 billion MATIC tokens that are not in circulation yet, will be distributed over the next 4 years.[\[5\]](#cite-id-6jffxyhe2nw)

MATIC is the native token of Polygon. It is used to govern and secure the network by staking. It's the currency of Polygon apps.

MATIC

**QuickSwap** is a permissionless decentralized exchange (DEX) based on Ethereum, powered by [Polygon](https://beta.everipedia.org/wiki/polygon)'s Layer 2 scalability infrastructure. By utilizing Layer 2 for transactions, QuickSwap users are able to trade any [ERC20](https://iq.wiki/wiki/erc-20) assets quickly with minimal gas fees.[\[1\]](#cite-id-nzek7wykvx)[\[2\]](#cite-id-br1ccd5d02v)  
  
# Overview  
  
QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum and powered by Polygon's Layer 2 scalability infrastructure. Anyone can trade any ERC20 token on QuickSwap. If an asset isn't currently supported on the platform, users can list any ERC20 token on QuickSwap by providing liquidity to enable instant asset swaps. They will then earn fees every time other users trade via that trading pair.[\[3\]](#cite-id-m4yomeu9l9d)  
  
Liquidity providers (LPs) will be incentivized by both yield farming and liquidity mining opportunities. Users who provide liquidity for incentivized trading pairs on QuickSwap will not only be entitled to a percentage of the platform’s 0.3% trading fees but will also earn QuickSwap's native QUICK governance token for their participation.[\[4\]](#cite-id-8amep1f4b0i)  
  
As of September 2022, there are two types of QUICK — Old QUICK and New QUICK. The two tokens were created following a 1:1000 token split in March 2022 when QuickSwap’s community voted to increase QUICK’s supply.[\[18\]](#cite-id-hg4p9adg7i)  
  
# Features  
  
## Permissionless Listings  
  
Just like other leading decentralized exchanges (DEXes), any user can list any ERC20 token on QuickSwap by providing liquidity for the trading pair. There is no requirement to ask permission from any other person or entity before listing an asset.[\[5\]](#cite-id-mbr5wyowu6l)  
  
## Liquidity Mining  
  
By providing liquidity to incentivized QuickSwap trading pools, users are rewarded with QUICK tokens. QuickSwap launched Liquidity Mining on October 9, 2020. Since that date, the market cap of QuickSwap's native QUICK token has increased to over $180 million.[\[6\]](#cite-id-5sljtouvjp9)  
  
## Layer 2 Transactions  
  
Transactions on QuickSwap are powered by Polygon (formerly Matic Network), a Plasma-based Layer 2 Ethereum scalability solution. This means asset swaps can be completed within \~2 seconds at a tiny fraction of the gas cost on the Ethereum mainchain. Transactions on Polygon achieve finality on the Ethereum mainchain, providing all the security of Ethereum with the massive performance capabilities of Layer 2.[\[7\]](#cite-id-vu6shefla2)  
  
## Non-Custodial Trading  
  
Users can trade on QuickSwap directly from their personal wallets (including MetaMask, Coinbase Wallet, and various mobile wallets via WalletConnect). Unlike centralized exchanges, there is no need to deposit tokens onto the exchange before trading. Users, therefore, retain complete custody over their assets during the trading process.[\[8\]](#cite-id-rnlhi60f7l)  
  
## Yield Farming  
  
There is a trading fee of 0.3% for every transaction on QuickSwap. Users who provide liquidity to trading pairs on the platform are eligible to receive a percentage of trading fees in proportion to their liquidity pool stake. (0.25% are rewarded to LPs, 0.04% to single-asset QUICK stakers, and 0.01% to the QuickSwap Foundation).[\[9\]](#cite-id-leqc5dpytci)  
  
## Governance  
  
QUICK token holders decide the future of QuickSwap through governance votes. Token holders are able to vote for various aspects related to the protocol. The ultimate goal of QuickSwap is to hand over power to the community so that the platform can be managed entirely by token holders.  
  
## Participating in IDOs  
  
Initial DEX Offerings, or IDOs, are a new way to raise funds for projects in development. In June 2021, QuickSwap partnered with Starter, a leading IDO launchpad on Polygon, in the QuickStart alliance. This partnership enables QUICK token holders the opportunity to participate in IDOs.[\[20\]](#cite-id-ggxtgomxpw5)  
  
# QUICK Token  
  
QuickSwap has its own QUICK token. QUICK token holders are able to create proposals for and vote on various factors relating to the running of the protocol. As of the time of this writing, there are two types of QUICK — Old QUICK and New QUICK. The two tokens were created following a 1:1000 token split in March 2022 when QuickSwap’s community voted to increase QUICK’s supply.[\[18\]](#cite-id-hg4p9adg7i)  
  
The Old QUICK token was launched in 2021 as the governance token for QuickSwap, with a total supply of 1 million tokens. There was no seed round, no private round, no pre-sale, and no public sale (ICO/IDO/IEO) of the QUICK token. 96.75% of the token's total 1 million supply was reserved for the QuickSwap community.[\[10\]](#cite-id-1j7id8boc96)  
  
As of May 21, 2021, 90% of QUICK tokens had already been distributed through the liquidity mining rewards program. To motivate new projects and communities to come out to Layer 2 and try Polygon, QuickSwap provided incentivized trading pools. Those who provide liquidity for an incentivized trading pool are rewarded with QUICK tokens in addition to a percentage of the fees generated from swaps.  
  
However, despite the growing market cap, the team soon found out that the scarcity narrative made QUICK price seem too expensive relative to that of other DEX tokens, such as UNI or [1INCH](https://iq.wiki/wiki/1inch). Consequently, the community increased the max supply of QUICK tokens to the current circulating supply of 1 billion by creating the New QUICK tokens.  
  
As of April 2022, QUICK token holders can convert Old QUICK to New QUICK. Holders can still buy or sell Old QUICK on centralized exchanges, as QuickSwap continues its transition from Old QUICK to New QUICK.[\[18\]](#cite-id-hg4p9adg7i)  
  
QUICK mining rewards will run for another 3.5 years (4 years total). Gradually, the token emissions will slow down with less being distributed as the years' pass. The treasury wallet is equipped with multisig, and it requires 3 out of 4 signatures from QuickSwap curators Nick Mudge, Sameep Singhania, Lunar Digital Assets CEO Roc Zacharias, and Polygon co-founder [Sandeep Nailwal](https://iq.wiki/wiki/sandeep-nailwal) to increase security and eliminate the chance of a future rug pull.[\[11\]](#cite-id-7624c4wvzwu)  
  
## Token Distribution  
  
### **Dragons love Unicorns: A Tribute to Our Mother (5%)**  
  
Because QuickSwap is a fork of Uniswap, the team allocated 5% of the total QUICK token supply for liquidity mining via UNI-pools.[\[12\]](#cite-id-zkd4hyw9b2m)  
  
### Curators and Advisors (3.25%)  
  
Because QuickSwap is a community-focused project, only 3.25% of the total supply was allocated to QuickSwap’s curation and advisory team. The tokens that were distributed to QuickSwap’s founding members are locked in vesting contracts that release slowly over the next 392 days.  
  
### A Future Airdrop  
  
To reward early users, QuickSwap has reserved 1% of the total supply to be distributed via an airdrop at some future date. Though originally the team intended this airdrop for MATIC stakers, the team is now working to determine a better strategy. It's possible that a portion of these rewards will go to Matic stakers, while others will go to QuickSwap’s users and token holders. The exact specifications of this future airdrop have not yet been determined.[\[13\]](#cite-id-p8s3hkv72k)  
  
### Marketing  
  
The team used the remaining 0.75% of the QUICK supply to fund their initial marketing campaign. They distributed these tokens to members of various DAOs and distinguished industry personalities to encourage their interest and participation in QuickSwap.[\[14\]](#cite-id-148g2h65k2cb)  
  
# CelsiusX Partnership  
  
In February 2022, QuickSwap announced its partnership with CelsiusX, the DeFi arm of the Celsius Network. The partnership aims to create a bridge for smooth transitions between DeFi and CeFi and facilitate quicker adoption.[\[21\]](#cite-id-lfhbml1f4bh)  
  
As such, CelsiusX is building the crucial infrastructure required for wrapping tokens to facilitate their easy movement across [blockchain](https://iq.wiki/wiki/blockchain) networks. This will enable native CeFi users to gain access to various DeFi opportunities like liquidity mining and staking, and enable DeFi users to benefit from the interoperability and scalability of CeFi platforms.[\[22\]](#cite-id-2q1qo02c4md)  
The team behind QuickSwap exclusively told NewsBTC the following about their collaboration with CelsiusX:  
  
> CelsiusX is bringing 3 assets (cxDOGE, cxETH, and cxADA) that currently have little to no utility or use on Polygon over and each of their respective communities with them. The team will be seeding the liquidity for 3 trading pairs, $10 million in liquidity for each pair. In addition to added liquidity, we expect to see a major increase in volume.[\[23\]](#cite-id-xd91zxb4wzm)  
  
# Dragon's Quick (dQUICK) Token  
  
QuickSwap team introduced dQUICK or Dragon's Quick token in April 2021. It is the asset users receive when they deposit QUICK tokens into the QuickSwap "Dragon’s Lair" pool (staking contract). The price of dQUICK changes over time depending on how much QUICK is deposited in the staking contract. In simple words, users deposit QUICK, and they get a variable rate of dQUICK in return. The value of dQUICK increases over time as swap fees are generated. When the users unstake (or withdraw from the staking contract), their dQuick is burned, and they get back more QUICK tokens than they put in depending on the rate. The lower the dQUICK rate, the more QUICK users will receive when they unstake. The longer a user holds dQUICK, the more QUICK tokens they will withdraw when the time comes. There are no lockup periods, so the user can withdraw anytime.[\[15\]](#cite-id-1l21jtwp11l)[\[16\]](#cite-id-di8cto7th8h)  
  
The rewards for the Dragon’s Lair or staking QUICK come from the exchange fee generated on QuickSwap. Out of the 0.3% fee charged by Quickswap, 0.04% is used to market buy QUICK tokens and distribute them to stakers. The acquired QUICK from fees is then divided up proportionally between the dQUICK holders in the Dragon's Syrup Pools, meaning their dQUICK increases in value relative to QUICK.[\[17\]](#cite-id-if17yhotdt)  
  
These Syrup Pools have a finite number of rewards in participating tokens that expire once the limit is depleted. As most Syrup Pools have run out of rewards for Old QUICK tokens, the Syrup Pools currently accept only New QUICK token.[\[18\]](#cite-id-hg4p9adg7i)  
  
## QuickSwap’s V3 beta  
  
QuickSwap V3 beta was launched on September 12, 2022, on the Polygon chain. Additionally, this will pave the way for the new Dragon's Lair, which will debut a few days after the V3 beta. New $QUICK holders will be able to stake their New QUICK to start earning a portion of the trading fees collected on its DEX.[\[19\]](#cite-id-nrfrdekmbe)

QuickSwap is a permissionless decentralized exchange based on Ethereum.

QuickSwap

Atomic Wallet Coin is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) token that was first issued by Atomic Wallet, a [decentralized](https://iq.wiki/wiki/decentralized-application) crypto-wallet for the Ethereum [blockchain](https://iq.wiki/wiki/blockchain). Users of the token earn benefits such as discounts on exchanges, staking, and bounty rewards.[\[13\]](#cite-id-jwq428vvufd)[\[14\]](#cite-id-coyyad9l5d)  
  
# Overview  
  
Atomic Wallet was founded in the early part of the year 2017 by Konstantin Gladych, who was also the former Chief Executive Officer of Changelly instant exchange. Atomic Wallet is a non-custodial decentralized wallet, which supports more than twenty blockchains and also over three[\[1\]](#cite-id-yq5574af58) hundred tokens. The body has been able to produce rapid growth and increase in just only a few months of its existence, being established also among the first set of companies that were able to effect cross-chain Atomic Swaps.[\[2\]](#cite-id-qoev9vz0rsg) The company is self-funded.[\[3\]](#cite-id-76evmgql51p)  
  
The Atomic Wallet Token has established itself as one of the most popular tokens, since being created by the [decentralized](https://iq.wiki/wiki/decentralized-application) crypto wallet, Atomic Wallet. Launched in 2018, the value of the Atomic Coin Wallet has rapidly increased, recently hitting an all-time high price of $1.25, and has also recorded more than 100,000 token holders. The token has been found useful already on so many platforms from cashback to bounty programs, to affiliate/airdrop, and the most recently affected staking has about 23% yield per annum.[\[4\]](#cite-id-wgmfhogjl)  
  
The Atomic Wallet Token (AWC) was announced among the pioneer projects moved onto the [Binance Chain](https://iq.wiki/wiki/binance-smart-chain). The Atomic Wallet token is listed among the trade tokens on [Binance DEX](https://iq.wiki/wiki/binance-dex), this allows full control by the user over funds in the entire process of exchange. This brings to the table improved security, a better rate of the transaction, and a more enjoyable trading experience in general.[\[5\]](#cite-id-du1tk3gm85g)  
  
# Atomic Wallet Business Model  
  
The Atomic Wallet has remained profitable against all odds with prolonged price declines, causing a price fall below 20%. Atomic raises its revenue from commission on exchange and also the service process of obtaining cryptocurrency with a bank card. The Atomic has continued to have a widespread move in about three years of existence moving from over 50,000 downloads in 2018 to about 150,000 downloads in 2019 and sits currently at more than 500,000 downloads on all platforms (mobile devices and desktops) as of September 2020.[\[6\]](#cite-id-fghf7l35wxu)  
  
# Founder  
  
At the helm of affairs in the team of experts steering the Atomic, Wallet Ship is Konstantin Gladych[\[7\]](#cite-id-z0sgbq3ef1k) who is the Chief Executive Officer and also co-founder of Changelly.com (a reputable company that boasts of more than two million active users, producing a massive $0.5bln in revenue monthly.[\[8\]](#cite-id-vx5j8qtdank) He has to his profile about thirteen years of experience in Information technology, blockchain and cryptocurrencies combined.[\[9\]](#cite-id-owfio79md5)  
  
## The Team  
  
The team includes about 24 full-time employees (support staff, marketing staff, software developers) a team that presents expertise, experience, and efficiency to provide services uninterrupted for users.[\[10\]](#cite-id-nnlqlyyu2sf)  
  
# Atomic Wallet Token metrics  
  
Atomic Wallet is fueled with its underlying token, called AWC.  
  
| **Total Supply(AWC)** | **Circulated Supply(AWC)** | **Locked AWC** |  
| ----------------- | ---------------------- | ---------- |  
| 100.000.000 | 10.000.000 | 90.000.000 |  
  
1. In its distribution, about 5.5 million AWC are shared among advisors, airdrop/affiliates, and investors and it has been discovered that a larger percentage of the token is owned by more than 30,000 smallholders.  
2. The Atomic also plans distribution of less than 4.5million AWC in the next year for affiliate rewards and airdrops.  
3. Until demand is made by a professional investor, the company seeks to keep 80% of its funds under lockup, with a release due after five years if there is still no such investor in view.  
4. There has been a reservation of 10 million AWC equally dispersed in ERC20 and in BEP2 for swapping purposes.  
  
# Buying Atomic Wallet Coin (AWC) – A Guide  
  
Outlined below are steps to follow to buy the Atomic Wallet Coin:  
  
1. Purchase Ethereum or Bitcoin through exchanges using a Credit/debit card or bank transfer interface on platforms like [Bitfinex](https://iq.wiki/wiki/bitfinex), [Kraken](https://iq.wiki/wiki/kraken), [Coinbase](https://iq.wiki/wiki/coinbase), or [Bitstamp](https://iq.wiki/wiki/bitstamp).  
2. An account should be opened in an exchange that trades the Atomic Wallet Coin, any of the outlined can be used: [Binance](https://iq.wiki/wiki/binance), DEX, MXC, IDEX.  
3. Cryptocurrency purchased (Ethereum or Bitcoin) should be transferred to the created account in the exchange.  
4. At the price of the user’s convenience, the BUY transaction can be enacted using a limit order.  
5. The wallet that has compatibility with the Atomic Wallet Coin is to be set up.  
6. Atomic Wallet Coin can now be transferred out of the exchange to the created wallet, ensuring the safety of private keys.  
  
# Atomic Wallet Token utility value  
  
Atomic Wallet Coin is currently majorly used for community rewards. But work is ongoing in a bid to effect and establish the Atomic Wallet Coin into the wallet ecosystem, granting holders rewards for staking and also enjoyable discounts on services like purchasing cryptocurrency with a bank card, instant exchanges, etc[\[11\]](#cite-id-booidnd7qc5)  
  
# Migration to the BNB (Binance Coin) Mainnet  
  
Atomic Wallet Coin started first on the Ethereum blockchain with a total supply of 100,000,000 tokens. Later on, in  2019, in April 50% of the total supply was burnt on the Ethereum and the equivalent value was minted on [Binance Chain](https://iq.wiki/wiki/binance-smart-chain). Atomic Wallet Coin remains one of the most sought-after middle-of-the-road tokens on the Binance Chain having recorded so far more than 500,000 transactions. It currently has 50 million AWC on the [Binance](https://iq.wiki/wiki/binance) Mainnet and the remaining part of the supply total on the [Ethereum](https://iq.wiki/wiki/ens) [blockchain](https://iq.wiki/wiki/blockchain).  
  
# Binance DEX listing  
  
Atomic Wallet Coin became a pioneer member of the projects listed on the Binance DEX in May 2019, the platform provides Users with better security, saves time on transactions and trading, and also offers them a more customer-friendly experience. The tokens have been dispensed to seventy thousand user addresses already with about 15% of the users having an estimated $100 Atomic Wallet token worth.  
  
One of the first and even largest contests for the AWC was hosted on the 20th of June, 2019, the 400,000 Atomic Wallet Coin Binance DEX Trading competition lasted for 35 days and had over a thousand users in participation. The competition could indeed be said to be the biggest for Binance DEx so far, by an external body. The competition aimed to be partakers in the Binance Community listing campaign and the AWC did eventually come out as the winner, but they had what to rejoice about the publicity brought awareness to the Atomic Wallet Coin and in turn, a lot of new token holders joined up.  
  
Other than [Binance](https://iq.wiki/wiki/binance), the Atomic Wallet Coin has also been listed on AtomicDEX and also on the HOO  
  
# How to swap AWC from ERC20 to Binance Chain  
  
For user convenience and a better trading experience, the token swap has been arranged by the Atomic Wallet on ChangeNOW. The swap works from ERC-20 to BEP2 Atomic Wallet Coin.  
  
# Staking Atomic Wallet Coin(AWC)  
  
The AWC token was implemented on the Atomic Wallet in June 2020 with an annual yield ranging between 17% and 23%. From the foundation pool of tokens rewards are given out on basis of allocation and reservations were made to act as incentives for the publicity of the token. The staked tokens on Binance Chain run on a special freeze platform, still availing customers with total control over their funds with the private keys granting them access to unfreeze tokens at convenient times. The rewards are later on calculated manually in proportion to staked balances before distribution is made with the multi-sender utility. Just about two months after its initial launching, an estimated 3,000,000 Atomic Wallet Coins (approximately more than USD 3 million) was staked by more than 3900 customers.[\[12\]](#cite-id-8f0rhh55li8)  
  
# Affiliate Airdrop Program  
  
The Atomic Wallet Coin token had its first usage on the Binance Coin mainnet on the platform of the affiliate project. The community was majorly sponsored by the revenue gotten from downloading the wallet, creating a user account for airdrop, and referrals. Incentives of 10 AWC are given for referrals and other rewards after signing up with vouchers later on. The project has now gained reputation and popularity among Users from writers to YouTubers to podcasters and even to influential users but has been put on temporary hold due to improper uses and illegitimate users, the team is currently working rigorously to improve the interface and to henceforth verify legitimate users.

Atomic Wallet Coin is a cryptocurrency token that was first issued by the Atomic Wallet.

Atomic Wallet Coin

 **IRIS Network** was created to be the foundation for next-generation [decentralized application](https://beta.everipedia.org/wiki/decentralized-application). IRISnet is built with the SDK, IRIS Hub thus allowing cross-chain interoperability through a combined service model.[\[1\]](#cite-id-c0yvyww04n)[\[2\]](#cite-id-xwmzkv4mb2)  
  
# Overview  
  
IRISnet is a service infrastructure and protocol built using the Cosmos SDK and Tendermint consensus layer. Focusing on being one of the first regional Cosmos network hubs outside of the Cosmos Hub, the IRIS Hub, an independent [Proof-of-stake (PoS)](https://beta.everipedia.org/wiki/proof-of-stake) [blockchain](https://beta.everipedia.org/wiki/blockchain), will serve as the "center" of the IRIS network that will connect the other zones within the IRIS network both to each other and to the greater Cosmos ecosystem. IRISnet's service infrastructure and modules for adjacent zones will aim to support DeFi applications. While also providing multiple modules to support DeFi applications, IRIS is fashioned to support the consumption of computer data and resources through various system mechanisms, token economics, and internet token transfer of blockchains.[\[3\]](#cite-id-mxaox6f9scs)[\[4\]](#cite-id-8m3fo33rlsh)  
  
# History  
  
IRISnet was created by the technology team of Bianjie Intelligent Technology Co., Ltd. (Bianjie AI). Bianjie Intelligent Technology Co., Ltd. (Bianjie AI), the company behind IRISnet, was founded in 2016. This Shanghai-based start-up focuses on developing blockchain-based products and solutions for enterprises, specifically in the healthcare and financial industries. IRISnet, being the first regional hub in the Cosmos ecosystem outside of the Cosmos Hub, focuses on providing infrastructure and protocols for [decentralized](https://beta.everipedia.org/wiki/decentralized-information-asset) business applications.  
  
IRISnet is a vital partner of the Interchain Foundation and Tendermint (the company), who are the core contributors behind the Cosmos Network. Starting as a Hub, IRISnet was potentially built to be the first hub to interoperate with the Cosmos Hub and the independent chains (called zones) connected to it.[\[5\]](#cite-id-ykzr068fntr)  
  
### IRISnet's Team  
  
The IRIS Network is the product of a collaboration between several blockchain businesses which includes- Tendermint, Wancloud, and Bianjie AI. Tendermint provides technical supervision and development support to the IRIS network team. Wancloud acts as a vital partner to develop the IRIS Network ecosystem. Some of the core team members of IRISnet came from all three organizations. One of which is Haifeng who is the co-founder of the IRISnet project. He holds an M.S. in ECE from the University of Maryland. Haifeng worked as CTO for the Wanxiang Blockchain Wancloud before starting the IRISnet project. Another Core member is Harriet Cao . A co-founder of the IRISnet project who also is co-founder of Bianjie, the core development team of IRISnet. Other of IRISnet's core members are Jeffrey Hu and Jae Kwon.  
  
# Tokenomics  
  
Similar to the Cosmos network, the IRIS network is also designed to support a multi-token model. These tokens are owned by different partitions and can be transferred from one partition to another through the IRIS hub. We have constructed two types of tokens to support operations on the IRIS network:  
  
* Equity token  
* Cost pass  
  
IRIS is the native token of the mainnet IRIS Hub, the equity token of Bonded Proof-of-stake (BPoS) staking, and the fee token for network transactions, DeFi business, and iService cross-chain services. It is a utility token with multiple usage scenarios (Utility Token). IRIS token is the main means of exchanging value among users. The token is used for both staking and paying. The token also provides voting rights to participate in network administration.[\[6\]](#cite-id-7b2j87m3n3x)  
  
### How to buy IRIS  
  
Buying and trading IRIS, the native token of IRISnet is great but understanding how to trade with it and from where to trade, makes trading safe. The following steps inform users on how to buy IRIS-  
  
* **Accessing a Secure Trading Platform-** Users will need to buy any of the major cryptocurrencies (BTC or ETH).  
* **Transferring Funds To An Exchange:** Users will need to send their chosen cryptocurrency (which could be Bitcoin or Ethereum) to an exchange. All exchanges have a similar deposit method. IRISnet (IRIS) is available on Binance. And users are to ensure that they select the correct coin the user will want to deposit. BTC should be sent to a BTC deposit address, etc.  
* **Spotting IRIS-** Once the user's deposit is confirmed, trading can begin having accessed the funds. To purchase IRISnet (IRIS) on Binance, users will need to check through the “Exchange” tab and click on “Basic”. To locate IRISnet (IRIS), type the coins “ticker” (IRIS). Users must ensure that the correct pairing is being selected. Then Click on “IRIS/BTC” to proceed.  
* **Buying IRIS-** Having spotted IRISnet (IRIS), users will be presented with a Price Chart (Center) and some Order Books (Left). The “Price” field will be automatically filled with the most recent price IRISnet (IRIS) was sold for although this can be adjusted to the user's desired price. The “Amount” field is the amount of IRIS the user wishes to purchase. The “Total” field is the total price in BTC that users will pay for the whole amount. Then proceed click “Buy IRIS”. The user's order will be filled if a Seller sells IRIS for the price submitted.  
* **Withdrawing IRIS-** To withdraw IRIS, Users will need to click on "withdrawals" around the "Funds” tab. Users are to Locate IRISnet (IRIS) by using the drop-down box provided and then enter the amount of IRIS that is to be withdrawn, taking into account the fees/minimums shown and ensuring that the withdrawal address inputted is correct and it is the user's address. By clicking “Submit”, the user is done with purchasing IRIS.[\[7\]](#cite-id-6bbgs2gv76p)  
  
# Partners  
  
IRISnet is supported by the following partners:  
  
| Partners | Names of Organization |  
| -------- | --------------------- |  
| Core development team | Bianjie Intelligent Technology, Tendermint |  
| Strategic Partners | Interchain Foundation, Hashkey Digital Asset Group, PlatON |  
| Ecological partners | OKChain, MYKEY, KAVA, e-Money, IOV, Coirfan |  
| Support organization | AMINOcapital, Bibox, Huobi Capital, MediShares, BK Fund..etc. |  
  
##   
  
<br>  


IRIS Networkis a network of Internet servers that use a specific protocol through which individuals can hold real-time online 

IRIS Network

**IOTA** is a public distributed ledger that stores transactions in a directed acyclic graph (DAG) structure, called a Tangle. The Tangle is used in place of the blockchain structure commonly used by other cryptocurrencies, such as [Bitcoin](https://beta.everipedia.org/wiki/bitcoin).[\[1\]](#cite-id-r05yf4870v9)[\[2\]](#cite-id-ujv1aqxcoq)   
  
IOTA is a [cryptocurrency](https://beta.everipedia.org/wiki/cryptocurrency) designed specifically for the Internet of Things (IoT) that can be used for the secure sale and sharing of data streams. .  
  
The Iota white paper was written by Serguei Popov and published December 28, 2017.[\[3\]](#cite-id-qbyvmoy2l1)[\[4\]](#cite-id-5omfl5ehm0j)   
  
#   
  
# General Background  
  
#### **Why IOTA?**  
  
While [blockchain](https://beta.everipedia.org/wiki/blockchain) tech has real-world value, it doesn’t come without its drawbacks. One such drawback is the transaction fee. According to the IOTA whitepaper :  
  
> The importance of micropayments will increase in the rapidly developing IoT industry, and paying a fee that is larger than the amount of value being transferred is not logical.  
>   
  
This is where IOTA comes into play. It was designed from the ground up to have absolutely no transaction fees. This solution was made possible with Tangle technology.  
  
The network is able to achieve consensus with no transaction fees with the use of Tangle technology. The Tangle is the coined term for IOTA’s DAG (Directed Acyclic Graph) on which the network is based. Instead of being packaged into blocks and chained one after another, IOTA’s transactions are connected in a big tangled web.  
  
Rather than having mining farms mine whole blocks, each user verifies the past two transactions with a tiny amount of work before he or she can send their own transaction. In this way, the cost of each transaction is the cost of electricity it took your node to verify the past transactions rather than a fee set by a network of miners.  
  
Furthermore, since Tangle technology doesn’t have blocks, one doesn’t need to wait for verifications. Transactions are mined in parallel, and as a result happen instantly. This is precisely why Tangle-based cryptocurrencies are able to achieve the highest TPS (transactions per second) rates among all blockchain-based currencies.[\[5\]](#cite-id-9bjt542azm5)[\[6\]](#cite-id-yrgr1sh7e4t)  
  
#### **IOTA’S Network Resilience**  
  
Another advantage of using Tangle technology is that the network becomes more resilient to quantum computing and also to the infamous 51% attacks you may have heard about (which is actually a 34% attack).  
  
**34% attack-resistant**  
  
It was believed that if an attacker had access to 51% of Bitcoin’s network power, he or she could take over the cryptocurrency. However, it was later found out that 34% was enough. Essentially what is required to take over a blockchain-based network is a certain percentage of the total hashing power. Because of IOTA’s network topology, there are three things that are required in order to perform such an attack:  
  
1. A percentage of the network hash rate  
2. Having a full view of the network  
3. Being paired with a certain percentage of nodes  
  
  
The first variable is self-explanatory. A full view of the network is required in order to propagate the rogue hashing power effectively throughout the network. Finally, that hashing power must be paired with a sufficiently high percentage of nodes in order to actually propagate the attack successfully. If the attack isn’t performed fast enough, the network will easily see the anomaly and ignore the threat.  
  
While there is a slim chance that an attacker may gain enough hash power and be paired with a large enough amount of nodes, the network topology is kept private because connections between nodes are private. Thus, it would be extremely unlikely that such an attack would successfully take place.  
  
**Quantum-Resistant**  
  
Another advantage to IOTA’s network is its quantum resilience. Because of its use of Winternitz hash-based signatures instead of elliptic curve cryptography, it’s able to resist quantum-based computing which will inevitably come in the future. Current research suggests that hash-based functions are secure against quantum computing, which was one of the reasons IOTA decided to go that route.   
  
# Hashing Algorithm and the Curl Controversy  
  
Although IOTA doesn’t require mining, transactions are still securely stored by computer “nodes” using a cryptographic algorithm called SHA-3 Proof of Work (PoW). This operates similar to Bitcoin’s SHA-256 PoW algorithm to create a chain of transaction records that are stored on full network nodes. How these nodes will be rewarded for their services is not yet clear, since they don’t actually receive any of IOTA’s tokens (called MIOTA) for their work. This has resulted in some debate about how IOTA will solve this lack of incentive to run a node.  
  
Early in IOTA’s development it actually used a hashing algorithm called Curl which was custom-built by the IOTA development team. Curl was replaced, however, after an MIT team found a potential vulnerability in the algorithm.  
  
This sparked a huge controversy in which the IOTA development team was widely criticized for handling the situation poorly, and for over-reaching when they tried to create their own algorithm. Many argued that a cryptographic algorithm must be widely available and tested for years prior to being released to verify the algorithm’s security.[\[2\]](#cite-id-ujv1aqxcoq)  
  
## Microsoft partnership scandal  
  
In November 2017, IOTA was said to have a partnership with Microsoft. The organization was later derided when it clarified no formal partnership existed.   
  
## Bosch Investment  
  
In December 2017, Bosch announced it has purchased a significant number of IOTA tokens to support creation of new business models for the Internet of Things.   
  
## ITIC  
  
In January 2018, IOTA announced a partnership with the International Transportation Innovation Center (ITIC) to build a global alliance of smart mobility testbeds. This comes as ITIC validates a Proof of Concept for dynamic electric vehicle charging showcased by NetObjex Inc in Smart Metering solution using the IOTA decentralized network and cryptocurrency back in October 2017.   
  
# Sweden  
  
Sweden Riksbank, Sweden's central bank, in September 2017 announced that it is investigating the use of digital currencies dubbed the E-krona project.   
  
\*The use of banknotes and coins is declining in society. At the same time, virtual currencies and payment methods are undergoing rapid technological development. The Riksbank has therefore started a project aimed at examining whether the krona needs to be issued in an electronic form, an "e-krona". It has not yet been decided whether the Riksbank will issue an e-krona.\*  
  
Among the 33 proposals submitted to Riksbank, which includes top tier companies such as Accenture, IBM, MIT Media Lab, Ericsson, r3, SEB, only 19 organisations were invited to a dialogue with Riksbank. The IOTA Foundation was among one of the 19 organisations invited to the dialogue.   
  
The inquiry is expected to be finalized in late 2019.[\[7\]](#cite-id-6985c200o44)[\[8\]](#cite-id-shegmnat4g)  
  
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IOTA is an open-source distributed ledger and cryptocurrency designed for the Internet of things.

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