Ace Byte (XAB)¶
Ace Byte (XAB) is a utility native system token.
Each token (1 XAB) initially has the following basic backing: 100 GB of traffic in the P2P CDN service; 200 video ads impressions, in VAST format; 3 to 10 days unlimited access to premium content (depends on the user's region); other services of the Ace Network, in accordance with the established tariff plans.
Ace Byte gives access to all Ace Network services and facilities and is the sole means to make all payments in the Ace Stream network.
When paying for the traffic 1 AceByte equals to 100 Gb of data.
The starting rate of Ace Byte after the initial issuance: 1 XAB = $1.
During the network launch there will be an initial issuance of 1.5 billions XAB that will be distributed:
1 billion XAB are transferred to the Ace Maker protocol, for internal circulation (for encapsulation in tokens of copyright holders). Ace Maker redeems this volume of XAB for stablecoins, at a 75% discount, without the possibility of their withdrawal from the protocol (i.e. without the possibility of their direct placement and sale on the market)
500 million XAB credited to the DAO treasury account, for the operation of the DAO, the formation of a reserve fund and maintaining liquidity
All subsequent emission of Ace Byte tokens is performed automatically by the
mint method of the AceByteManager contract, which sells Ace Byte tokens upon request, upon payment. The list of tokens accepted as payment and the price are set by Ace Stream DAO voting.
The starting rate of Ace Byte for the initial issue: 1 XAB = $1.
The subsequent price of the token is formed by the market and regulated by Ace Stream DAO voting
Payment and distribution of funds¶
The list of tokens accepted as payment is approved by Ace Stream DAO voting.
Funds received from the sale of XAB tokens are distributed by smart contracts for the following target programs:
- 15% - for technological development and development of software products Ace Stream DAO
- 15% - marketing programs
- 70% - formation of a reward pool, for participants of the "Ace Asset" program