TUBI EXCHANGE WHITE PAPER

Transcription

1 TUBI EXCHANGE WHITE PAPER

2 Tubi Exchange White Paper To be the difference Background Combine all the digital currencies in the world right now, and their global market cap would exceed 200 billion US dollars. Although this market is valued in the billions, these digital assets have yet to receive adoption by the mass public as a form of investment. When compared to traditional markets, digital currency is in its infancy but market experts expect rapid growth for these digital assets in the coming years. Bitcoin remains the most popular cryptocurrency now, but there are many other emerging coins that are slowly being traded for huge sums. Around this ecosystem, the demand for professional and secure trading platforms has risen dramatically in the recent years. About Tubi Exchange TubiEx is a world-leading digital assets exchange that provides advanced financial services to global traders through the use of blockchain technology. We take pride in being an exchange that caters to a diverse and global client base - all the while providing them with the support they need to enter the cryptocurrency markets with full confidence. TubiEx believes in rewarding active communities. Our crypto-enrichment program aims to strengthen thriving communities by giving them the rewards they deserve, so the more they trade, the more they receive. A growing community can also expect to referral bonuses from the trading volume to encourage both active trading and growth of the community, allowing the community to earn more as a whole. Founded in 2018, TubiEx has gained millions of dollars worth of investments from leading enterprises such as Venture Capital CFGL. Our solid foundation has drawn in experts in technology and business from the world's top organizations, which allows us to offer safe, stable and reliable trading services through internet and mobile solutions. Our Vision TubiEx truly believes that blockchain technology will eventually eliminate barriers to transactions, increase the efficiency of transactions across societies, and have a significant impact the global economy. We strive to position TubiEx as an industry leader that will innovate and facilitate this new digital economy. Mission TubiEx is the next generation digital asset exchange that will help facilitate the wider adoption of digital currency globally. We intend to use the latest technology, implement Research and Development, listen to the needs of our community, and deliver new ideas that will further increase the value of TubiEx and reward our customers.

3 Competitive Advantages of Tubi Exchange 1. Safety, Stability, Multi-Tier and Multi-Cluster System Architecture TubiEx utilizes an advanced distributed system architecture that is specifically built to protect against distributed denial-of-service attacks (DDoS) and other potential threats. Clustered servers work together to balance high transaction loads and fend off would-be attacks. Additionally, more than 98% of TubiEx s managed digital assets are stored in multi-signature, cold wallets. All application security protocols from client authentication and communications to back-end process protection and environment hardening are fully aligned and compliant with the industry s best practices. 2. Cross Platform Functionality TubiEx is a cross platform ready exchange. TubiEx hybrid application architecture allows users to facilitate transfers and trade their funds safely over multiple platforms including, but not limited to, Android, ios, Mobile Web, Windows, and Mac OS. 3. High Performance - Capable of Processing 1,000,000 orders per second TubiEx is a dynamic, robust, and high performing exchange. Using state of the art technology, our certified Exchange Matching engine is able to efficiently facilitate and quickly execute up to 1,000,000 orders per second. This alone already puts TubiEx ahead as a top exchange by current standards. 4. Industry s Best Multichannel and Multilingual Customer Service - Support and FAQs available 24/7 in multiple languages Another way in which TubiEx is exceptionally different is that it focuses on providing world-class customer service with support for multiple languages. Digital asset trading can be a complicated process and when blocks occur we want to be there for our users. That is why we are prepared to help our customers through any issues with our round the clock multilingual support. As our user base grows in different regions, TubiEx will continue to add the relevant language-based support required by our customers. With multiple channels of support available, customers will be able to give feedback, log issues, and get a helping hand via their preferred method. TubiEx will strive to bring you solid customer support through multiple application platforms such as Facebook, WeChat, WhatsApp, Telegram, and other mediums where necessary. 5. High Liquidity - Abundant resources and partners. Liquidity is the backbone of any exchange and is the extent to which a digital asset can be bought or sold at stable prices. TubiEx has come up with an innovative approach to maintain the liquidity of our digital assets by introducing communities of traders where each group consists of traders. Coupled with that is our incentives for traders and our competitive trading campaigns that are designed to reward high frequency/large volume traders to organically boost liquidity on TubiEx. 6. Multi-Asset Support (BTC, ETH and USDT) TubiEx base architecture is able to support hundreds to thousands of various digital assets. To begin, our focus will be on the major well-known assets including Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and other ERC20 tokens. However, as time progresses, we will continue to add support for more assets that enter the market. TubiEx will extensively evaluate what assets will be listed based on use case, authenticity, technological specifications and the community of a potential listing. 7. Industry Partners TubiEx has made it one of its mandates to establish and maintain relationships with reliable industry partners and/or advisors that share the same vision for the platform s advancement. Our investors have shown great enthusiasm for TubiEx and believe in its future growth.

4 8. Solid Foundation The underlying TubiEx base architecture has been proven to work amongst some of the largest and best exchanges worldwide. It supports all major devices and multiple languages, while offering a seamless user experience. TubiEx will provide hundreds of tokens for trading to help traders optimise their strategies and to build community outreach. We aim to be one of the top cryptocurrency exchanges by trading volume - eventually serving millions of users in over 30 different countries. 9. Referral Programs and Trade Bonuses TubiEx intends to facilitate user adoption while rewarding them for trading. Users will receive invitation links to be able to participate in direct and indirect promotion bonuses that will incentivize the adoption of trading and exchange. Users will receive a percentage of the trading fee accumulated by their referrals on the exchange. 10. Tubi Network Token (TBN) The Tubi Network token is an integrated ERC20 utility token for facilitating and rewarding activity on the Tubi Exchange. TBN users will benefit from discounted trading fees, referral bonuses, voting for token listing, and much more. Standardized Listing and Delisting Tubi Exchange Features TubiEx s blockchain experts will evaluate each token, with assistance from TubiEx s proprietary AI technology before deciding which tokens to list. We will only select high quality digital assets that are reputable within secondary markets (such as other reputable exchanges) to list and trade. By doing so, we hope to eliminate the potential scam coins that are circulating in the ecosystem. Our mission is to provide users with an exchange platform that is transparent, neutral and fair to all. Assets that become less relevant in the industry, suffer from low trade activity, or participate in disreputable activity may be delisted. We reserve the right to delist any asset we deem as underperforming or untrustworthy. Safety and Security Security is our priority. TubiEx aims to provide a safe, reliable and stable environment for digital asset traders. TubiEx employs several security measures and best practices to make sure that our users are protected. Besides this, TubiEx is actively allocating resources for research and development to further develop security products and standards that keep users safe. We want to establish the best trading experience available in the industry now and in the future Supported Assets TubiEx upon launch will support trading for the following digital assets: BTC (Bitcoin) ETH (Ether) USDT (USD Tether)

5 More assets will be added over time. We will only add assets that have strong credibility, user base, and liquidity. Device Coverage We will provide cross-platform trading for the following: Web-based trading users Android native users ios native users (pending App Store review) Mobile HTML5 users (including WeChat H5 client) PC (Windows and MacOS) native users At launch our full and mobile fit web-based platforms will be brought online for users to begin trading. Our native mobile and PC platforms will follow soon after. Multilingual Support We will support English, Chinese, Japanese and Korean on all of our trading platforms although the very initial release will be in English and Chinese to begin with. More languages will be added over time. Professional Trading Tools and API Support TubiEx aims to provide the best trading experience for its users, and this means providing the very best in trading tools for them to use. Moving Averages, Bollinger Bands, Fibonacci Retracements, real-time and historical pricing and volume data are all essential tools in a successful trader s arsenal. TubiEx will provide all of these tools and any more that are widely requested by its users. TubiEx recognises that algorithmic/programmatic trading also plays an important role in the health of any exchange. At launch TubiEx will provide public ticker APIs for pricing and volume data of all trading pairs. Shortly after launch, TubiEx will roll out protected APIs for secure trading and account management such as deposits and withdrawals. Responsible Revenue Model TubiEx s revenue will come from the following sources: Source Exchange Fee Commissions Description TubiEx will initially charge a 0.2% fixed fee per trade. (0.1% Maker, 0.1%Taker) Extended fee commission variations will subsequently be introduced, including more finely tuned makertaker, volume-based tiers, and reduced or zero fee promotions. We have no plans to ever charge above a total 0.2% for trade commissions.

6 Withdrawal Fees Listing Fees Other Fees TubiEx may charge a small fee for withdrawals. These charges may change depending on market conditions, asset valuation, and user activity. TubiEx will select innovative assets to be listed on the exchange. There may be a fee associated with those listings. There may be other fees that the platform will collect for various services such as automated algorithmic orders, professional API rate limit packages, margin trade fees, etc. The Tubi Network Token (TBN token) TBN is an integrated ERC20 utility token for the Tubi ecosystem. Initially its primary role will be for facilitating and rewarding activity on TubiEx. While the TBN token will only be available for private sales at launch, there will be a crowdfund starting in Q for public distribution. TBN for Fee Reduction When you use TBN to pay for fees, you will receive a significant discount according to the following schedule: 1st year 2nd year 3rd year 4th year 5th year Discount Rate 30% 25% 20% 20% 20% As shown in the table above, TubiEx is offering added incentive for users in their first two years of operations to help accelerate the adoption of TBN tokens to our users benefit. From the third year onwards, TBN token usage will guarantee a 20% discount on trading fees for the next three years. Beyond the fifth year, discount rates will be re-evaluated; however, it is important to us to reward loyal TBN token users and we do not foresee a rate decrease. TBN Discounted trading fee Commissions To promote a large and healthy community when we launch in November 2018, TubiEx will be offering a referral bonus program to all of it users. Users may login to our website ( to receive a unique referral link to share with their friends and family. Users who recruit new members through their links are entitled to collect 10% of that linked member s trading fee commissions when those commissions are paid using TBN tokens.

7 TBN for Asset Listing TBN tokens will serve two roles in the Asset Listing process: 1. Holders of TBN tokens will be able to vote on their preferred tokens to list on TubiEx. The voting process will involve cryptographically signing a vote message from a TBN holding account and submitting this message on our website ( Votes can be changed at any time during a vote period. This mechanism provides a truly democratic way for TubiEx users to make themselves heard. A TBN holder s vote power is equal to the proportion of their holdings as compared to the total circulating TBN supply. The more TBN tokens a user holds, the bigger their vote is. Moving forward this voting mechanism may be used to gather user opinion on other important TubiEx issues. 2. A proportion of the TBN token supply is allocated for Asset Listing. Promising tokens with enough votes from the community and that have passed TubiEx s stringent vetting process are eligible to be listed. However, these potential listings must bid to purchase allotments of TBN tokens as a form of listing fee. If the situation arises during a listing period that there are more tokens eligible than there is available space in the listing queue, then token projects will have to enter a period of auction bidding for the TBN token allotment where the highest bidders will be chosen for listing. In this way, TBN Asset Listing allotments will act as a free market mechanism for pricing in the accurate cost of listing on the TubiEx. When there is a higher demand for token listing, then the ensuing price competition will drive up the cost of listing naturally and vice versa for periods of low demand. Further details of both the voting and listing processes will be communicated through TubiEx s official channels later.

8 TBN Tokenomics & Crowdsale. Distribution # of TBN Company Reserve (20.5%) 77,900,000 Private Sales (30%) 114,000,000 Crowd sale (27%) 102,600,000 Asset Listing (9%) 34,200,000 Airdrop Program (7%) 26,600,000 Bounty Program (5%) 19,000,000 Advisory Allocation (1.5%) 5,700,000 Total (100%) 380,000,000 Crowdsale Funds Usage Allocation Technical Development & Research 30% Marketing 25% Partnerships 20% Operations 10% Reserves & Contingency 15%

9 Funds Usage Clarification 30% Technical Development and Research these funds will be used for developing and innovating all aspects of the TubiEx platform such as added functionality, professional trading systems, security, infrastructure, user interface, multi-platform support, and customer service. Technical advancement is one of the cornerstones to providing a superior trading experience. 25% Marketing these funds will be used for various advertisement activities (marketing campaigns, events, SEO optimisation, social media, etc). Effective marketing will draw in new investments and keep the market liquid by attracting active users to the platform. 20% Partnerships these funds will be used to expand the size of our trading communities and our business network through partnerships with other projects and industry leaders. These partners will be able to bring added value to the operations of TubiEx. 10% Operations this allocation will be used for costs incurred in the daily operations of TubiEx; namely human resourcing, administration, office space rental, server infrastructure, security audits, regulatory compliance, etc 15% Reserves and Contingency these funds will be used for expected and unexpected future costs that are unrelated to the other categories above. TubiEx has put in place contingency plans for unexpected circumstances, so that operations can continue smoothly after any disruptions. TBN Lockup Periods TubiEx has two primary token lockup periods in place: i) for the Company Reserve allocation, and ii) for large private sales investment. These schedules begin on the first day of the Initial crowdsale Opening Period (December 2018) Company Reserve Timed Release Vesting Period TBN Holdings Schedule 48 Months 77,900,000 TBN % vested every month Private Investment Timed Release (based on token holdings) Vesting Period TBN Holdings Schedule 3 Months 10,000 TBN - 99,999 TBN 50% vested immediately and 16.67% every month thereafter 3 Months 100,000 TBN - 399,999 TBN 40% vested immediately and 20.0% every month thereafter

10 6 Months 400,000 TBN - 1,599,999 TBN 25% vested immediately and 12.5% every month thereafter 9 Months 1,600,000 TBN - 7,999,999 TBN 10% vested immediately and 10% every month thereafter 18 Months 8,000,000+ TBN 6% vested immediately and 5.22% every month thereafter High Liquidity- Abundant resources and partners. Liquidity is the backbone of any exchange. Exchange liquidity is the extent to which a digital asset can be bought or sold at stable prices. TubiEx has come up with an innovative way to solve this problem by on boarding communities of traders (each group consisting of traders). Competitive trading campaigns ensure that these groups are incentivised to provide liquidity by rewarding high frequency/large volume traders and groups. These campaigns will organically boost liquidity on TubiEx. These groups will have their addresses registered and kept track off on the TubiEx Exchange. Competitive trading incentives are set at a total of 10% of the Tubi Exchange trading fees revenue in a given quarter. The top five groups by volume of trade for the relevant quarter will receive a portion of the Tubi Exchange fee commissions according to the following schedule: Trade Group (by vol) Commission Sharing Rate * 1st place 2nd place 3rd place 4th place 5th place 5% 2.5% 1.25% 0.75% 0.5% * these rates are subject to change depending on actual volumes and program uptake TBN Crowdsale The TubiEx Crowdsale Overview TubiEx will run a crowdsale on the Ethereum Network starting December This sale will last for 180 days and generally follow the same daily trenching model of the EOS sale. Therefore there will be 180 periods of distribution (~24 hrs each), whereby at the end of each period, the total number of TBN tokens designated for that period will be distributed to each contributor based on the amount of ETH they contributed divided by the total ETH contribution amount for that period (assuming the period s reserve price has been met, see below).

11 For example, let s assume there are 1000 TBN to be distributed this period. If there is 10 ETH contributed total in the current period and I myself contribute 1 ETH then my claimable tokens from this period equals: (1 ETH/10 ETH) * 1000 TBN = 100 TBN During this time, TBN tokens will be listed on the Tubi Exchange (and other major exchanges), so the crowdsale token price can be primarily determined by the open market. This occurs primarily because the price of TBN on exchanges will approach parity of the crowdsale as contributors try to arbitrage the two. Beyond the base EOS model, TubiEx will implement two modifications: A) Dynamic Reserve Pricing - In any given period, if the amount of ETH contributed for that period does not meet the reserved amount, then all contributor will receive a proportional number of tokens at the reserve price and a portion of the period s tokens will not get distributed. If this occurs the reserve price for the following period is adjusted down to accommodate the lesser volume. For example, let s assume the same sale conditions hold. Period distribution TBN My contribution - 1 ETH Total Period Contribution - 10 ETH But let s additionally assume there is a Period Reserve of 20 ETH. In this case the reserve is not met and we must reflect this in the distribution: (10 ETH/20 ETH) * 1000 TBN = 500 TBN Only half of the Reserve was achieved and so only half of the tokens are distributed. The remaining calculations for claimable tokens are the same: (1 ETH/10 ETH) * 500 TBN tokens = 50 TBN As a result of not meeting the Period Reserve, the next Period Reserve will be lesser - Next Period Reserve = 20 ETH - Reserve Step There will be a minimum floor set for the dynamic reserve under which the reserve will not drop any further. Lastly, the Reserve Pricing will recover fully when contribution allows. For instance, if the current Period Reserve is 17 ETH but contribution comes to 19ETH, then the next Period Reserve will be set at 19 ETH. Similarly, if the contribution were to come to 25 ETH, then the next Period Reserve would be set to 20 ETH (the max reserve in our example).

12 B) A Hidden Cap Mechanism - TubiEx will be implementing a hidden cap mechanism whereby during deployment of the crowdsale smart contract TubiEx will include a keccak256 hash of the crowdsale hard cap (in Wei) and a secret number. As the sale continues TubiEx will monitor the total amount contributed. If the contributed amount exceeds the hidden hardcap number, TubiEx will reveal this number along with the secret number to prove to the smart contract that the hidden cap has been reached. This will finalize the sale immediately ending all further contribution and any remaining TBN will be returned to TubiEx. There is a guaranteed 45 days for the TBN sale. So even if the hardcap is reached and revealed in this time the sale will continue for the remained of the initial 45 days. WHY THIS MODEL? TubiEx is interested in a responsible and fair token distribution as well as a smooth integration into the open market. The following are the primary reasons we have chosen the aforementioned TBN model: i. The EOS base model does not provide high certainty of valuation since daily tranches are distributed to the contributors based on their proportion of the contribution for that round. However, it does produce extremely accurate pricing into the open market and generally each round s token distribution raises nearly the same price per token as the open market, this mechanism does give some acceptable range of certainty of valuation. In our opinion a responsible crowdsale model is one that accurately prices a token into the open market avoiding pump and dump scenarios. The addition of Dynamic Reserve Pricing will help to keep the market price more stable on low contribution days, but additionally guarantees that TubiEx receives a guaranteed price for its crowdsale allocated assets. ii. Anyone can participate over the extended timeline. Additionally, those who cannot participate directly in the sale can do so indirectly on the open market, since the token price of the sale will theoretically have parity with the price on the open market. It should be noted that the TubiEx crowdsale does implement a hidden sale cap. If this cap is reached prematurely, the certainty of participation is not guaranteed for all prospective contributors. However, we have implemented a guaranteed minimum of 45 periods to accommodate late entrants and will consider running another future sale in such a case. SECURITY TBN is a standard ERC20 token using the Open Zeppelin standard token contracts found here The only amendments to this standard library are the addition of the following safety functions: i) a default fall back function to prevent users from accidentally sending ETH to the ERC20 contract, and ii) ii) a recovery function giving the owner the ability to extract any ERC20 tokens accidentally sent to the contract address. The TBN ERC20 contract will be deployed previous to the crowdsale during the crowdsale period the entire crowdsale allocation of TBN tokens (102.6M) will be placed within the crowdsale contract

13 ensuring a guarantee of fair distribution. After this point the TubiEx crowdsale and its allocated tokens will be managed securely by the crowdsale smart contract. This smart contract will be audited by a 3rd party before the contribution period starts and the results of the audit will be made publicly available. PARTICIPATION Contributors must undergo a crowdsale whitelisting process before participation in the sale is allowed. This process includes registering and verifying an ETH address for participation. TubiEx will support both Metamask and MyEtherWallet for participation. Addresses held on exchanges will not be entertained. Exact instructions on how to participate will be given closer to crowdsale date. Future Functionalities Leverage, Contracts and Advanced Trades While TubiEx currently provides a platform for spot trading with market and limit orders, there are also plans to introduce the service of leverage trading, asset lending (token lending) and contract trading. TubiEx will offer perpetual swap and futures contracts as advanced derivatives as well as more finely tuned order bookings including stop-loss, buy-stop and planned orders. Other options for setting Time in Force, Post Only orders, and Order Holds will also be offered. AI Risk Control System TubiEx intends to use machine learning methodologies and AI technology with its own trade log history as a training set to detect any user activity that occurs outside normal trading patterns. This AI risk management system will serve as early detection for security threats; thereby keeping the TubiEx system and our users safe. APIs for Professional Investors: High Liquidity The active involvement of institutional investors in trading will provide high liquidity and reduced volatility. To facilitate that, we will provide secure, stable and efficient APIs, such as: RESTful Websocket FIX Alongside these API protocols TubiEx will develop client-side libraries (Javascript, Python, etc.) for even higher abstraction and easier integration into trading applications. Hybrid System Architecture TubiEx incorporates a combination of cryptographic signatures, matching engine, state hashes, user account hashes and distributed ledger technology, so that a full audit trail of the entire TubiEx trade history down to the last order can be cryptographically proven. Such a system ensures transparency and security when using the platform at any time. When combined with its existing multi-tier multicluster architecture, this hybrid system architecture can ensure stable and robust trade processing at unprecedented levels while still retaining maximum performance.

14

15 Risk warning: Although the TubiEx team will fulfil its commitments, credit diligence and conscientious management, the project will still exist and carry out operations under the following risks: Policy risk Economic period risk Internet hacker risk Management risk Liquidity risk Price fluctuation risk Strategic risk Compliance risk Operational risk Financial risk Reputational risk Recognition of Competition: We know that our exchange is entering a highly competitive industry. There are thousands of teams planning and proceeding to develop trading platforms. The competition will be extensive, but we believe that every good concept, start-up, or even mature company will face the risk of such competition. For us, this competition is the driving force for our development, and we are certain that it will weed out inefficient exchanges. Disclaimer This document is only used to convey information. Before participating in this exchange platform, please carefully read this white paper and the official website to obtain and comprehend all relevant details. You are advised to take the time to understand blockchain technology as well as digital assets and the risk they pose. Please take note of the potential risks involved, and fully assess your own risk tolerance and actual situation in order to make rational decisions before using the exchange. The project team will implement, to the best of our efforts, the directions as detailed in this white paper. This document does not provide in any way investment advice, investment intention or abetting investment in the form of securities, nor any form of contract or commitment. Once engaged in the investment, you, as a participant, need to clearly understand the risk of the platform and accept the risk of the project. Participants must be willing to personally bear all the corresponding consequences of their participation. TubiEx expressly disclaims any direct or indirect damages resulting from any participating projects, including: 1. The economic losses incurred by the user through transactional operations 2. Any errors, omissions or inaccurate information borne of personal understanding 3. The loss incurred by an individual exchange of various types of digital assets and any consequent acts WEBSITE: support@tubiex.com