Solving Real-World Financial Problems with On-Chain Economic Innovations

Solving Real-World Financial Problems with On-Chain Economic Innovations

Solving Real-World Financial Problems with On-Chain Economic Innovations

Disclaimer: This article does not constitute financial or legal advice.

With the launch of KOY Network underway and GoodBlock as a key technical partner in that initiative, we’re excited to be rolling out a series of articles going into the details of how GoodBlock is driving innovation on KOY. In case you missed it, be sure to check out last week’s article where we give a high-level overview of KOY Network and the significance of the partnership with GoodBlock.

In this article, we’ll be diving deeper into the tokenomics that GoodBlock CEO, Douglas Horn, helped conceptualize and how these design choices are positioning the KOY Network to fill an important gap, not only in Web3 economic systems but more importantly, real-world financial markets. Keep reading to learn more about KOYN, the network’s native token and the unique utility that allows the ecosystem to facilitate multicurrency exchange without the liquidity inefficiencies of traditional DeFi exchange systems. We’ll also be diving into how the network mitigates asset volatility through unique functions, like a daily exchange rate and the KOYN Buy Back function.

If you still have questions, be sure to jump down to the bottom of this article for details on our upcoming AMA with KOY Network and GoodBlock.

KOYN Utility: An Atomic Intermediate Trading Token for Real-World Scale
The heart of KOY Network’s economic model lies in the KOYN token. Its primary utility is to serve as an asset facilitating the exchange of other tokenized assets, especially stablecoins from various African countries. Due to the private design of the KOY Network, the ecosystems exchange system can carry out unique functions that wouldn’t be possible on other protocols.

In traditional DeFi, if an ecosystem wanted to create multiple liquidity pools for various trading pairs, there would need to be separate pools for each pair. This creates a big market problem known as trapped liquidity, where one liquidity pool may attract most of an ecosystem’s capital, leaving others to suffer due to a lack of market-making. Since a core mission of KOY Network is to solve financial disparities between various countries across Africa, it was important that the network solve this problem. This is where GoodBlock was able to offer guidance, leveraging years of experience in tokenomic design, and landed on the true utility of KOYN – to serve as an Atomic Intermediate Trading Token between the network’s various financial actors.

That’s a lot of fancy words, but what does it really mean? Essentially, any time someone wants to trade Token A for Token B, rather than a direct swap, the smart contract first trades Token A for KOYN. Then that KOYN is traded for Token B. All of this happens under the hood, and the end user only sees Token A being traded for Token B. However, since KOYN is acting as an Atomic Intermediary, the capital being allocated to trading pairs is shared, not only between Token A and Token B, but also Token C, Token D, and so on.

Most interesting is that the only token a user can’t trade for through the network’s primary exchange contract is KOYN itself. There will be other avenues for interested parties to acquire KOYN and stake it to provide liquidity for this function, but within the context of a traditional layperson, they may not even know that KOYN exists. However, they will feel the impact that KOY Network brings to their day-to-day finances. What’s really exciting is that because the network is facilitating exchange between various currencies across Africa, the entire continent could see a massive increase in economic liquidity.

The utility of KOYN is demonstrated by the fees generated from token exchanges going into the rewards balancer contract, with the goal of sustaining the network. This could be quite a large amount of KOYN when one begins to conceptualize many countries across Africa all using it as a medium of exchange.

Lowering Volatility Through Daily Exchange Rates & Network Buyback Function
In countries across Africa, government entities set daily exchange rates for local currencies. The KOY Network will be adhering to these daily exchange rates, in order to ensure easy adoption at a local level. Similarly, there will be a daily exchange rate set for KOYN itself.

With this in mind, the network will have a fund where anyone who wants to sell KOYN will be able to do so at 5% below the daily rate. KOY Network will buy it and maintain enough reserves to make these purchases.

Knowing that you can always sell KOYN at a given price will help the entire KOY economy run smoother by lowering volatility. It also improves the user experience by ensuring that there is always a market for KOYN to be bought and sold.

Token Distribution & Staking Rewards

As with all Web3 projects that GoodBlock takes part in, it’s important that there is an equitable distribution of tokens from the start. KOY Network is no different, and the 1 billion KOYN tokens are planned to be distributed as follows:

  • 100 Million for Founders, Advisors & Partners: To those who have been helping to launch KOY Network – vested over a 4-year timeline.
  • 50 Million for Presale: Initial token presale.
  • 350 Million for IEO: Initial Exchange Offering for public purchase.
  • 150 Million for Ongoing Auctions: Distributed through transparent monthly auctions as part of the network’s tokenomic design.
  • 350 Million for Staking Rewards: To be distributed to those who hold and stake KOYN for a set period of time.

The staking rewards are a particularly notable part of the KOY Network’s tokenomics; users will be able to stake their tokens into various pools with increased rewards the longer they stake. The staking rewards system gamefies the network’s liquidity creation over a long timeline, allowing applications to easily project the network’s economic viability.
Learn More about KOYN Tokenomics at our Upcoming Event
We hope you’re just as excited as us for the launch of KOY Network and its potential to revolutionize financial markets. If you’d like to learn more about KOY, head over to koy.network or check out our recent event with the KOY Network team.

We’ll also be hosting another event on October 13 at 16:00 UTC, so be sure to follow us on Twitter to stay in the loop on updates and other news.

For details on acquiring KOYN Tokens, check out the KOYN Fair Sale:

The KOY team is currently conducting a token presale to give community members and those in the Antelope ecosystem an opportunity to acquire KOYN tokens at an attractive rate.

To further honor their roots in the Antelope ecosystem, they’ve initiated the #AntelopeAccess program. Through this program, individuals can join the KOY Telegram channel and exchange their Antelope-based tokens for KOYN.

Once the #AntelopeAccess program concludes, a Fair Sale will be launched on the koy.network website. During this Fair Sale, KOYN tokens can be purchased using USDT from the Ethereum blockchain.

 

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.

KOY Network is a distributed ledger system designed to support smartphone apps serving Africa and its diaspora situated across the globe. Learn more at koy.network.

GoodBlock Website: https://goodblock.io/
KOY Network Website: https://koy.network/

Social Media:
KOY Network Twitter: @KoyNetwork
GoodBlock Twitter: @goodblockio
dStor® Twitter: @dStor_cloud
decide® Voter App Twitter: @decide_Voter

Medium: https://medium.com/goodblock-io
LinkedIn: https://linkedin.com/company/goodblock
Telegram: t.me/goodblocktls

Disclaimer: This article is for informational purposes only and should not be considered as financial or legal advice. Readers should conduct their own research and consult with professionals before making financial decisions. These tokenomics are subject to change based on legal guidelines or requirements.

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock Partners With KOY Network: Bringing Scalable Financial Infrastructure to Africa

GoodBlock® is excited to announce their partnership in the upcoming launch of the KOY Network. KOY Network is Africa’s super computer, a distributed financial infrastructure, powering trade through payments, logic and other digital services. GoodBlock’s CEO, Douglas Horn, will be working in the role of CTO for the network, with GoodBlock offering technical support as the network evolves.

It’s an extremely exciting time for the KOY Network, with the Antelope Access program open for the foreseeable future. To celebrate this epic milestone for the ecosystem, GoodBlock is running a contest on our Twitter! Stick around to the end of this article to find out how you can win part of a 2000 KOYN prize pool!

Please note that nothing in this article should be construed as financial advice.

How KOY Network is Revolutionizing Digital Infrastructure in Africa
The KOY Network is positioning itself to solve some of the biggest financial problems in countries across the continent of Africa. Historically, the continent of Africa has been left behind by traditional banking systems despite the large amount of wealth created in the nation’s natural resources. Instead of the efficient banking system that Western countries are familiar with, the financial system in Africa is made up of a series of fragment monopolies across local jurisdictions, which benefit the companies providing the financial services, rather than the people using those systems. The user experience of these systems are also lacking, relying on old cellular networks, dated technology and long settlement times.

KOY Network aims to overcome these challenges, bringing cutting edge financial infrastructure to users across the continent. By operating as a private blockchain protocol, based on the powerful Antelope tech stack, KOY Network will allow local financial service providers to build financial applications on top of it, which abide with varying local jurisdictions. The network will then tie together numerous local economies across the nation in ways that have never before been possible. With the continent of Africa being home to the youngest population worldwide, KOY Network aims to capitalize on the opportunity to introduce leading financial services to young people across the nation.

“Africa is absolutely ready for the leap forward into Web3 commerce,” said Betty Waitherero, founder of GreenTrace.io. “Being the first chain built specifically for the African continent, I am hoping to see businesses that are built by African developers that specifically meet African needs and can work in our emerging economies. I see Koy Network providing the tooling and infrastructure to bring communication, financial technology and online economies to life for African people.”

How GoodBlock Designed the World’s Fastest Blockchain on KOY Network
GoodBlock is excited to be a part of the KOY Network launch team with GoodBlock’s CEO, Douglas Horn working in the position of the network’s CTO. With a strong background in both technical infrastructure and Web3 development, as well as a notable involvement in the launch of several groundbreaking blockchain projects, GoodBlock is well positioned to ensure that KOY Network emerges as a leading example of what is possible when cutting edge technology is combined with impactful real world use cases.

“Over the past 5 years, I was working on Telos, and we made a lot of functional economic innovations there. But those were solving the problems of 5 years ago,” noted GoodBlock CEO, Douglas Horn. “The problems of today are much different, and being able to use what I’ve learned over the past 5 years is an exciting opportunity. KOY Network is a really cool economic tool that allows us to solve a lot of new problems that would not be possible in any other system.”

A key part of GoodBlock’s role has been designing the technical infrastructure the KOY Network will run on. Of all Block Producers across the entire Antelope ecosystem, GoodBlock has the fastest validator available. This was achieved through a combination of leading hardware components and innovative software refinements.

On KOY Network, the GoodBlock team is able to take things to the next level, thanks to its private design. With public Antelope blockchains, throughput needs to be optimized to accommodate the speeds of the slowest node on the network. This puts a significant ceiling on the network’s ability to scale effectively. Because KOY Network is a private network, all nodes can be optimized to the maximum specifications for effective throughput.

The GoodBlock team plans to implement similar design choices to their public Antelope node across all private nodes on KOY. With this in mind, the team estimates that the KOY Network will be up to 4x faster than any other Antelope network. The team will also have the ability to prove this through dedicated mainnet tests as opposed to the testnet tests that other networks utilize. Additionally, this will be showcased with sustained speeds. The goal of all of this is to achieve the accolade of world’s fastest blockchain.

The Unique Economic Advantages of KOYN Utility
GoodBlock has also been heavily supporting the network through tokenomic design for its native token, KOYN. Under Horn’s leadership, the team has developed a series of notable economic improvements that will set the network apart from other economic systems, both in Web3 and traditional finance.

Perhaps the most notable design choice when compared to other Antelope chains is that KOYN is not an inflationary token. There is 1 Billion KOYN in existence and there will always be only 1 Billion KOYN. A key reason this is possible is because, unlike most other networks, KOYN is not utilized as payment for network validators. Instead, service providers will pay KOYN Network outside the system for the network resources. This allows the value of KOYN to be dictated strictly by its unique utility and not as a means to pay infrastructure providers.

The utility of KOYN is quite unique in that it acts as an atomic intermediate trading token for value exchange between local currencies in Africa. Again, thanks to the network’s private design, the economic system is able to achieve new functions that are not possible on public blockchains, with transaction rewards being returned to token holders through staking rewards. Also unique to KOYN is a fund where, every day, KOY Network sets a daily price for KOYN, based on government exchange rates in local jurisdictions across Africa. This fund will then be available to buy back KOYN at 5% below the daily exchange rate. This is part of an automatic fund that will grow overtime in order to maintain reserves for this function. This greatly reduces the volatility of KOYN, making it even more effective from a utility standpoint. Between the lack of an inflationary mechanism, the ability to sell KOYN back to the network at any time, and an attractive staking rewards program, GoodBlock designed KOYN to stand out when compared to other network tokens.

KOYN Token Fair Sale
We’ve had many people in our community and the Antelope ecosystem asking how they can acquire the KOYN token that powers the network. The KOY team is currently running a token presale to allow those interested to access the token at a competitive rate.

In order to honor the founders roots in the Antelope ecosystem, the team is running #AntelopeAccess, a program where people can join the KOY Telegram channel and swap their Antelope based tokens for KOYN. Once that program ends, a token sale – called Fair Sale – will be opened up from the KOY Network website, which will take USDT from the Ethereum blockchain.

Join the #KOYNLaunchParty for a Chance to Win 200 KOYN!
To celebrate the launch of KOYN and GoodBlock’s involvement in the upcoming launch of the network, we are running a contest for our community! We will be giving away 10 prizes of 200 KOYN.

Here’s what you need to do to enter for a chance to win:

  • Go to koy.network and learn all about what makes KOY so unique.
  • Head to our X Profile and find our pinned Tweet: https://twitter.com/GoodBlockio/status/1706794428139032703
  • Like the Tweet.
  • Comment on the Tweet and Tag 3 Friends.
  • Quote Tweet the Tweet, and write what you love about KOY Network with the hashtag #KOYNLaunchParty.

Each action will grant you one additional entry in the contest, which will run from September 26 to October 3 at 4:00pm UTC, and winners will be announced on October 6.

The #KOYNLaunchParty is Just Getting Started!
We hope our community is just as excited as we are for this new milestone in Antelope innovation. GoodBlock is grateful to be a part of such an epic project alongside a talented community of builders. Stay tuned for more articles soon where we’ll be diving into both the economic design and technical advantages of the KOY Network, as well as the massive impact it will have on the continent of Africa.

Don’t forget to take part in the #KOYLaunchParty contest for a chance to win 200 KOYN. If you don’t win, those interested will still be able to acquire KOYN through the KOYN presale which is coming soon.

Be sure to follow GoodBlock on Twitter to stay in the loop on all the latest news from KOY Network, dStor, decide and more.

GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.

KOY Network is a distributed ledger system designed to support smartphone apps serving Africa and its diaspora situated across the globe. Learn more at koy.network.

GoodBlock Website: https://goodblock.io/
KOY Network Website: https://koy.network/

GoodBlock Social Media:
GoodBlock Twitter: @goodblockio
dStor Twitter: @dStor_cloud
decide® Voter App Twitter: @decide_Voter

Medium: https://medium.com/goodblock-io
LinkedIn: https://linkedin.com/company/goodblock
Telegram: t.me/goodblocktls

KOY Network Twitter: @KoyNetwork

 Disclaimer:
The information provided in this article is for informational purposes only and should not be construed as financial or legal advice. Investing in cryptocurrencies and blockchain projects involves risks, and readers are encouraged to conduct their research and seek professional advice before making any financial decisions. GoodBlock and KOY Network do not endorse or provide investment recommendations for any specific cryptocurrency or token.

 

Revolutionizing Cloud Storage: Introducing dStor® Open Beta

Revolutionizing Cloud Storage: Introducing dStor® Open Beta

Revolutionizing Cloud Storage: Introducing dStor® Open Beta

GoodBlock® Technologies Inc., a developer of innovative Web3 projects, announces upcoming dStor® open beta launch, revolutionizing cloud storage solutions.

GoodBlock is thrilled to unveil the upcoming dStor open beta launch, set to redefine the landscape of cloud storage solutions. After a successful closed beta phase catering to select projects, dStor is preparing to empower a wider range of customers. The open beta phase will allow anyone direct access to dStor’s innovative decentralized storage platform to any user, without the need for approval.

The closed beta phase allowed pioneering projects to harness the potential of dStor’s groundbreaking decentralized storage solution. With the introduction of the dStor open beta, customers will have the exciting opportunity to independently sign up and utilize the platform, unleashing the true power of this cutting-edge technology.

Traditional cloud storage solutions have long been plagued by issues such as high costs, data loss risks, provider outages, and potential censorship. dStor addresses these concerns head-on by combining the scalability of centralized storage with the resilience of decentralized alternatives. The result is a unique and transformative platform that promises enhanced security, speed, and convenience.

“For a long time, cloud storage had limited options. Users could purchase storage from big providers that are part of a broken system or utilize a decentralized storage solution that is difficult to adopt,” noted GoodBlock CEO, Douglas Horn. “dStor represents the first time that user-friendly, business facing decentralized storage has been made accessible in a way that fits the needs of Web3 and the decentralized internet.”

Key Features of dStor Open Beta:

  • Enhanced Geographic Diversity: dStor stores data instances across diverse locations, ensuring data integrity and minimizing the risk of file loss.
  • Seamless and Affordable Pricing: Simple and transparent pricing options cater to both small and large applications, making dStor a versatile choice.
  • Node Operator Opportunities: Individuals interested in becoming dStor node operators can earn revenue by providing infrastructure and benefit from a share in 50% of the platform’s total revenue. Click here to learn more.
  • Performance Incentives: Storage node operators are rewarded for optimal performance, fostering a constantly improving system that scales with demand.
  • Versatile Payment Options: dStor offers customers the convenience of paying in both traditional currencies and cryptocurrencies, eliminating the need for specialized tokens.

dStor is primed to transform various industries, with priority business verticals including Media and Entertainment, Real Estate and Insurance, Government and Public Sector, IT and Tech, and Healthcare and Life Sciences. As the cloud storage market evolves, dStor is positioned to cater to the growing demand within the small and medium-sized enterprise segment.

The upcoming dStor Open Beta launch marks the dawn of a new era in cloud storage solutions. Following the Open Beta phase, the general release of the dStor platform is anticipated to follow.

For media inquiries, please contact:

Sean Anderson
sean@goodblock.io

 

About GoodBlock Technologies Inc.:
GoodBlock is an innovation lab with an overarching passion for sustainability, along with deep ties in the Web3 ecosystem. dStor is a groundbreaking product poised to revolutionize the storage industry, offering businesses a decentralized solution that provides the scalability, speed, uptime, and security of our competitors.

GoodBlock Website: https://goodblock.io/
dStor Website: https://dstor.cloud/

Social Media:
Twitter: @goodblockio
Medium: https://medium.com/goodblock-io
LinkedIn: https://linkedin.com/company/goodblock
Telegram: t.me/goodblocktls

Truuli and GoodBlock Announce Partnership

Truuli and GoodBlock Announce Partnership

Truuli™ and GoodBlock® Partnership Brings Carbon Neutrality in Cloud Computing and Storage

GoodBlock® Technologies Inc, a trailblazer in cloud computing and blockchain solutions, has executed a deal to collaborate with Truuli Environmental Inc, a distinguished leader in integrated enterprise decarbonization, which marks a significant step towards establishing a pioneering carbon-neutral cloud computing solution that combines cutting-edge technology and sustainable practices certified by leading carbon offset registries.

By partnering with Truuli, GoodBlock can help companies comply with expanding government decarbonization requirements and realize income from the incentives of recent US laws including the Inflation Reduction Act of 2022, the Bipartisan Infrastructure Law of 2021 and Executive Order 14057, which establish new incentives and mandates intended to significantly reduce greenhouse gas emissions, primarily carbon dioxide, which are the leading cause of global warming. In addition to the US Federal Government, 22 states, plus the District of Columbia and Puerto Rico, have goals to reach 100% clean energy between the years of 2032 and 2050. 

“Governments are implementing climate change incentives, at last, but without certified service providers across many industries, organizations will struggle to meet those commitments,” said GoodBlock CEO, Douglas Horn. “By leveraging Truuli’s expertise, we will provide the cloud computing services organizations require with the certified decarbonization they need to embrace these regulations and thrive. As one of the pioneering cloud computing providers certified under the UN decarbonization registry process, we are poised to be at the forefront of this industry transformation.”

According to Fortune Business Insight, the global cloud computing market is projected to grow beyond $677 Billion by the end 2023. Experts are predicting that the growth rate will continue to rise, exceeding $2 Trillion by 2030. GoodBlock recognizes a significant opportunity to help organizations reach compliance with these new government-mandated decarbonization goals. GoodBlock is on track to be the first company in the United States to offer a UN Carbon Registry-certified decarbonized cloud computing solution.

Truuli works with businesses to calculate their carbon footprints and financial impacts and develop custom emissions reduction plans to lower its impact and earn carbon credits. Truuli helps monetize those credits in the marketplace to maintain the business’ decarbonization plan. Truuli clients can realize cost savings, reduced environmental impact, regulation incentives income and increased consumer demand.

GoodBlock’s mission is to build new technological systems that empower new solutions to previously intractable problems, including climate change. This partnership is an embodiment of that vision. GoodBlock’s certified decarbonized cloud computing offering will provide businesses with seamless access to cloud storage and computing resources previously only available through uncertified providers. The new offering builds on GoodBlock’s extensive experience in computer networks, including the development of the dStor® decentralized cloud storage, currently in beta release.

Truuli drives carbon neutrality across diverse sectors, to include energy, manufacturing, agriculture and food, construction, and beyond. With this partnership, Truuli will be able to present a new class of certified decarbonized cloud computing services to its customers to help them reach their own decarbonization goals. Computing is a critical function of most industries and can represent significant energy utilization that was previously difficult to address in a certified manner.

“Decarbonization and carbon neutrality are more than just industry buzzwords. They represent a company’s commitment to addressing global challenges and building a sustainable future. At Truuli, we are excited to partner with GoodBlock in their journey towards carbon neutrality, leading to innovative, advanced, eco-friendly product options for their customers,” says Livio Stan, CEO of Truuli.

This collaborative effort between GoodBlock and Truuli reflects a shared commitment to harnessing the potential of technology for the betterment of the planet. By uniting forces, both companies are poised to set a precedent for sustainable practices within the tech industry.

For media inquiries, please contact:

 Sean Anderson

Head of Growth at GoodBlock

sean@goodblock.io

 About GoodBlock Technologies Inc.:

GoodBlock Technologies Inc. is a pioneering company at the intersection of blockchain and cloud computing. The company is dedicated to providing innovative solutions that empower individuals and businesses to leverage advanced technology for positive global impact. With a mission to promote sustainability and foster decentralized empowerment, GoodBlock is at the forefront of shaping the digital landscape for the betterment of society.

GoodBlock Resources and Social Media:

Website: https://goodblock.io/
Twitter: @goodblockio
Medium: https://medium.com/goodblock-io
Telegram: t.me/goodblocktls

 About Truuli Environmental Inc.:

Truuli Environmental Inc. is a visionary leader in integrated enterprise decarbonization. The company specializes in quantifying carbon footprints, devising custom emissions reduction strategies, and guiding businesses towards carbon neutrality. Truuli’s expertise lies in its ability to convert sustainable practices into tangible results, enabling companies to navigate the path towards a more eco-conscious future.

 Truuli Website: https://www.truuli.com/