Thanks for your interest in the XYO Network!
We're really excited about the technology we've built and the crypto-location network we've put together.
The XYO Network started with a fairly simple premise: allowing blockchain smart contracts to access real-world location data.
This concept, called an "oracle", was up until now, limited to only the digital, online world.
With the XYO Network (which stands for the "XY Oracle Network"), oracles can now be thought of as both online data sources and offline (real-world) data sources.
What you are about to read below is a collection of the questions we've received most often.
Chances are you have similar questions about the XYO Network, and I hope some of these will save you time.
If you still have some questions, please go ahead and reach out to us any time!
We have a dedicated team working 24 hours a day. Each one of us is here for YOU!
The best way to get in touch with us is through our Telegram XYO Network Community Group.
You can join the XYO Network Community by clicking here.
Thanks and I hope to see you around!
Head of Marketing
Is there anyone else doing this GPS/blockchain integration type of thing?
We wouldn't classify the XYO Network as a GPS/blockchain integration; we are focused on providing trustless location signals across networks of different classes of location verification methods (GPS, Bluetooth, Cellular, QR-code readers, Radio, LPWAN, and even our own Low Earth Orbit satellites).
Instead of trying to fix the inherent spoofing vulnerabilities in one class of devices (i.e. GPS), we essentially layer all of them and have an blockchain-based ledger and history within each device leveraged by cryptoeconomics.
The name that has caught on for these types of blockchain-based platforms focused on location is "Proof of Location". There are a few other Proof of Location initiatives all that have different approaches (i.e. covering the world in LPWAN Radio Networks using triangulation). We think we're about to see a new industry emerge soon within the realm of blockchain called "Proof of Location". What this means is that our location data won't be onlyin the hands of governments that have the money to power GPS satellite networks in the future (potentially); offering us more options.
The world of tomorrow (drones, AI and self-driving cars) will rely on trustless location signals that literally cannot and should not make mistakes.
Great idea! But who are your competitors?
We really don't care or think about competitors. There are countless centralized alternatives that provide location data out there. But none are focused on blockchain developers and none are committed to being freely accessible and open to use. All of our technology is freely accessible by all and open-sourced.
Who are your customers?
Our customers are blockchain developers. We aim to serve our customers by giving them the best tools available to write smart contracts that need to plug into the real world to get the most flexible, secure and certain location data out there.
Our focus is:
#1) Our developer's experience
#2) Our developer's experience
#3) Our developer's experience
Nothing else matters.
Our focus is on providing them with the best set of tools, libraries, platforms and NETWORK, that allow them to achieve this in the most secure and cheapest way possible. Especially if that means branching into other networks and Proof of Location options (let's say Boeing's blockchain platform, if that happens). Our developers will enjoy easy and completely free tools and libraries to integrate it seamlessly. This is why the more Proof of Location options there are, it's better for our developers, and thus better for us.
We have "secondary customers" as a result of this who benefit (businesses and XYO Token users that transact using our token because our network has become so large and the de-facto standard preferred by developers).
Meaning, if we lose focus on creating the best technology, team and not focusing on what is needed to make this reality, then we lose. In the world of blockchain and decentralized organization/technologies, the concept of competitors really doesn't exist. Any other Proof of Location technology in our space is currently being or will be integrated as a Sentinel component in our system.
When is the Token Sale?
The public Token Sale is set to be March 20th-May20th.
What are the details of the XYO Token?
Smart contract platform: Ethereum
- ›› Contract Type: ERC20
- ›› Token: XYO
- ›› Token Name: XYO Network Utility Token
- ›› Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
- ›› Total issuance: Finite and capped at the amount reached after the Token Main Sale
- ›› Amount issued during the main sale: 100,000,000,000
- ›› Unsold and Unallocated tokens: Burned after the token sale. No further XYO tokens will be generated after the Main Sale ends.
Any info about token pricing or hardcap?
The public token sale has a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO.
Is there a minimum amount of tokens that one has to buy?
Whether you’re a big institution or an individual, there is no minimum. Keep in mind, tokens allocated for each stage of the Token Sale is limited and ETH/XYO price increases significantly from one stage to the next. Token Bonuses are naturally built into each stage.
How does one buy tokens? Can one buy via bank wire or credit card?
When our Token Sale begins, you will need to transact with Ether (ETH). We'll be providing instructions. That said, we will also be launching ready-made XYO Mining Kits, which will be preloaded with XYO in bulk and can be purchased with a credit card or other traditional fiat means. XYO Mining kit signup here.
What is the difference between participating via mining kit or token sale?
During our Token Sale you'll be able to purchase XYO in whatever amount you want (large or small). XYO Mining Kit purchases offer the benefit of being able to purchase the devices preloaded with XYO that is worth 1, 3, 5 ETH etc. by using a credit card. In the XYO Network ecosystem/platform, miners are rewarded for providing accurate location verification signals to the network (similar to how miners who compute cryptographic formulas are rewarded in Bitcoin or Ether i.e. Proof of Work). Diagram of the XYO Network and technology components can be found on our Technology page.
Where can I find info on fund allocation?
Fund allocation and other XYO Token information can be found here.
Do you have a target date to be listed on an exchange?
We can't confirm an exact date quite yet, but we aim to be on an exchange shortly after the Token Sale concludes.
What is the pricing structure of the sale, and what about the supply of tokens?
The supply is time-capped, not amount capped. The public Token Sale will have a tiered pricing structure so that early buyers get a better price than late buyers. There will be no new tokens generated after the Token Sale, and anything not allocated at the end of the Token Sale will be burned.
I have read that tokens have been pre-generated, how many have been created?
When we initially created our smart contract we pre-generated 100,000,000,000 tokens to ensure that we have a supply that can meet the demands of the Token Sale. Any unallocated tokens will be burned at the end of the sale, and no new XYO tokens will be generated.
How are you ensuring tokens will not be dumped en masse? Will you have any velocity sinks in place?
We will be staying away from the practice of giving away large quantities of tokens on a whim. This causes short-term spikes but is very bad for the token economy, and the token holder, in the long-term. This is further outlined in our green paper here.
Regarding velocity sinks and related token economic concepts both before and after the Token Sale, that will be outlined in an updated section of the Green Paper, or perhaps even a brand new one that goes into detail on the XYO Network ecosystem's Token Economics.
Where can I find your white paper?
Our white paper can be found here.
What is the green paper and where can I find it?
The green paper is an extrapolation of our white paper and outlines the more business related aspects of the XYO Network. It outlines XYO’s token economics, real-world applications, and its overall necessity in our world of tomorrow. It also goes into detail about the history of XYO and its team. You can access it here.
What are some applications or use-cases of the XYO Network?
A selection of use cases for the XYO Network can be found here
- ›› Airports
- ›› Drone Technology
- ›› eCommerce
- ›› Hospitals
- ›› Insurance
- ›› National Security
- ›› Rental Car Facilities
Where is XYO based?
Downtown San Diego, CA.
Where can I find your roadmap?
A brief roadmap can be found on our website here. An in-depth background/history as well as a more detailed roadmap can be found in our green paper.
Where can I find more info about the team behind the XYO Network?
The team is comprised of seasoned engineers, business development professionals and marketing experts. Arie Trouw solely founded XY Findables in 2012. Scott Scheper and Markus Levin joined as co-founders of the blockchain initiative in 2017 to assist in building the XY Oracle Network. You can find out more about the entire XYO team on our Team page.
Where in Asia are you building from?
If you're referring to the team, it will likely be based in Hong Kong but have reach into Singapore, S. Korea, Japan, and the other neighboring territories.
Do you guys have any working product or any beta version?
We have about one million bluetooth and GPS devices sold to date, and we're using that framework to build out the XYO network.
How many current users of your 1M devices will instantly enable the blockchain functionality?
We do not have a full count, but it will include all the apps and the XY4+ devices: in the hundreds of thousands.
What makes the location-pinging component that's installed in your devices tamper-proof?
We cover that in the white paper. It is not possible to make the physical devices tamper proof, but it would take a vast majority of the network to spoof data in a coordinated way, just like it takes a vast majority of miners to compromise Bitcoin. XYOs Proof of Origin and Bound Witness are key here.
Are all XYO devices made/sold by the company? Do they all create a mesh network that constantly pings and communicates as they pass each other?
We will likely be the sole initial manufacturer of XYO Network devices, but the protocol will be open to other manufacturers and developers. We'll encourage, but won't require, cross-compatibility wherever possible so that we can create that mesh network, but won't have barriers to entry for those who want to innovate.
Is there any form of built in location fault detection, specifically when it comes to k-index events?
Our system used relative location changing and does not rely on location readings. Having said that, we do have several approaches to detecting and removing faulty data. Our system uses relative location changing and does not rely on location readings. Having said that, we do have several approaches to detecting and removing faulty data.
So would it be safe to say that the guarantee of location is in fact relative?
The concept is that you can only prove relative truths and are willing to only accept absolute truths based on your own data. So for example, if you know all the relative links and your current location, getting a remote absolute location is mathematically possible.
Would GPS or SATs be able to do what you are easier?
In some cases, GPS information provides a solution on its own. In others, we can use that information to augment, strengthen, or confirm the validity of the information we receive.