XSL Labs

 

Introduction  

The purpose of this white paper is to provide a comprehensive and global understanding of the XSL Labs’ project. This is not intended to replace the technical document that provides more details about the various technologies’ choices (consensus, encryption, etc.). The technical document will be made public in December 2020. XSL Labs1 will be tasked with creating an ecosystem in which user data is protected to the maximum. All of the services offered in the ecosystem will be accessible with the SYL token, and the remuneration of the various members will be made through it. XSL Labs will develop a series of decentralized apps that will use SYL on the DLT Pulsar. These distributed apps and app extensions, including ONE, CONNECT, CORTEX and many others, will be developed in its future premises.

What is the Internet of Trust? 

The issue of data gathering and privacy protection is omnipresent. Removing the means of data gathering in order to disarm malicious actors is unfortunately not an option, as Shoshana Zuboff, Harvard Business School’s emeritus professor of sociology, suggests in her book "The era of surveillance capitalism"2 . To adapt is necessary to allow the user to be protected while indulging the benefits of data streams in our globalized world. We need to move from a strong asymmetry of benefits between individuals and business, to a symmetry of benefits derived from data gathering. This will be the Internet of Trust. 

Language of the document 

• SYL: name of the native asset of the distributed ledger Pulsar (it will at first be available as an ERC20 token). 

• XSL Labs: organization that will be in charge of the development of Pulsar, One, Connect, etc., the distribution of the network, the adoption, the evaluation of candidate-projects for SYL and the equitable distribution of SYL. 

• Pulsar: distributed ledger with SYL as native asset. 

• Secure Digital Identity3 : set of data managed exclusively by each user to permit digital identification. • ONE: central application of the SYL ecosystem, which brings together a large part of the services offered through its extensions. 

• SYL Library: the dApp Store. It will also ensure the quality of the services and that they are GDPR compliant. All services offered on the SYL Library will use SDI as a trust mark.

Governance 

 As part of the grant program6 , necessary for the distribution of the network in its first phase, each partner group that receives funds from XSL Labs to develop distributed apps on Pulsar, will have to acquire a node and thus become a delegate7 of the network. Likewise, any actor wishing to deploy a dApp within the ecosystem will have to maintain a node on the network and thereby become a delegate. Delegates will be rewarded in SYL for signing blocks depending on their importance on the network.

Smart contracts 

A distributed system8 will deploy smart contracts directly to Pulsar to enable escrow and the implementation of software that captures data from oracles9 . Smart contracts will play an important role in building a network of trust. 

Smart contracts will offer different types of services based on the Internet of Trust with utilities such as: 

• Give users the right to decide who can send them tokens and who cannot 

• Define multiple users for the execution of a transaction on a shared account 

• Define daily, weekly, or monthly payment limits 

• Create an SDI without or with KYC10 

• Set distributed apps on the network

Presentation of SYL

SYL is a utility asset, native to the Pulsar distributed ledger, designed to carry value. It will initially exist on the Ethereum network in the form of an ERC-2013 type token in order to be exchangeable between users upon completion of the ICO. SYL will grant a right of use to its holders, allowing them to use the various services offered within its ecosystem. Therefore, XSL Labs considers the SYL to be a utility asset. The total number of SYL will be 10,000,000,000. This is the maximum amount, no other SYL can ever be created, the protocol will not allow it. It can be divided up to 6 decimal places, which corresponds to 1,000,000 Syloshis for 1 SYL. The Syloshi is the smallest division of the asset. 1 Syloshi is equal to 0.000001 SYL.

The SYL will be created and designed to allow: 

• Transfer of value 

• The purchase of services 

• The execution of Smart Contracts 

• Network protection against spam 

• Reward for validators

SYL's total offering will be fully issued by XSL Labs, and will consist of the following: 

• A maximum of 7,000,000,000 SYL will be distributed during the ICO (undistributed SYL will not be issued) 

• If this maximum amount is distributed, 3,000,000,000 SYL will be placed in escrow to guarantee the supply of SYL to users when creating SDIs and to guarantee the good operation of dApps within its ecosystem14. If the maximum amount is not distributed, the ratio between the volumes is maintained (i.e. 30% of all tokens will be placed in escrow outside distribution).

XSL Labs 

XSL Labs will be responsible to develop an ecosystem around the Internet of Trust. It will have all the funds related to the Initial Coin Offering to ensure the development of Pulsar and its components including distributed SDIs, distributed apps and distributed app extensions. XSL Labs is an incubator and provider of grants for projects that wish to be developed on Pulsar. The aim is to create a complete ecosystem around the protection of personal data by allowing development teams to participate in it.

XSL Labs will also be in charge of promoting the ecosystem and creating all the conditions necessary for its mass adoption. It will have 30% of the total amount of SYL (3,000,000,000 SYL if 7,000,000,000 are distributed during the ICO) as well as 100% of the funds invested under the ICO.

 An escrow account with a progressive release will be created in order to release the 3 billion SYL through Smart Contracts, which will respect fixed rules: 

• A maximum of 60,000,000 SYL will be released from escrow each month 

• The first cycle will last 50 months. 

• Each month, not distributed SYL will be placed in a new cycle. 

• The number of distributed SYL is divided by two at the end of each cycle.

The escrow account as well as the immutable rules of operation will be available freely for consultation by the public to ensure total transparency.

Examples of projects that can be subsidized: 

• Anti-fraud ticketing service that fights the black market of resale 

• Authenticity and recentness verification of profiles on dating apps 

• Protection of biometric identification 

• Creation of personal data remuneration systems 

• Creation of secure connection gateways between users 

• Etc.

SYL Tokenomics

Quantitative and qualitative analysis of SYL and its ecosystem, identification of the value creation’s levers of the token.

SYL model design

THE FUNDAMENTALS OF SYL

Underlying technology

A blockchain will be used as the foundation of the ecosystem. dApps as well as various dApps extensions will be part of the services offered.

The Data market size

The size of the global Big Data and Analytics market was estimated at $ 171.39 billion in 2018, and is expected to reach $ 512.04 billion in 2026, with an annual growth rate of 14.80% between 2019 and 2026 according to Valuates Reports. Between the 2 time periods, the market will be multiplied by 3. https://reports.valuates.com/market-reports/ALLI-Manu-3K13/gblobal-big-data-and-business-analytics

This market is divided into 5 areas :

• 7% Diffusion & targeting (A)
• 16% Gathering of data, sale and rental of database (B)
• 18% Storage structuring, Hosting (C)
• 22% Online advertising (D)
• 37% Analysis & Intelligence (E)
• The SYL's areas of action are A, B and D.

Calculation

• Ms1 = (P1xQ1) /V1 + Ms2 = (P2xQ2) /V2 + …
• Ms: fundamental value of money supply or market cap (in USD) per service
• V: velocity or the number of times the Token is traded over a period of time (per year)
• P: price of the service sold (in USD)
• Q: quantity of services sold over a period of time (per year).

Example

• 200 services
• 20 services at 1$ - […] – 20 services at 10$
• 12 of velocity
• 7,000,000,000 SYL in circulation
• (Ms (1) = ((1 x 100000) / 12) x 20) + (Ms (2) = ((2 x 100000) /12) x20) + (Ms (3)) …. + (Ms (10) = ((10 x 100000) /12) x20) = 9 166 440$

Conclusion

The value of the asset will therefore depend on the number of services and their cost, the number of assets in circulation, the velocity within the ecosystem and the supply / demand in the speculative market.

Through this "Tokenomics", we can understand that all the players in the ecosystem will have an impact on the asset'’'s price through their various services.

Social media of project:

• https://www.youtube.com/watch?v=jyN1ALYR0M4&feature=youtu.be
• https://www.xsl-labs.io/
• https://bitcointalk.org/index.php?topic=5287198
• https://twitter.com/XSL_Labs
• https://twitter.com/XSL_Labs
• https://www.facebook.com/XSL.Labs/
• https://t.me/xsl_labs_official

AUTHOR

Forum Username: seniman21

Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3240377

Telegram Username: @cryptoseni

ETH Wallet Address: 0x83Baa8310A39E499932c8170eEa56fa7e2D29445

SYL Tokenomics

SYL Tokenomics

Quantitative and qualitative analysis of SYL and its ecosystem, identification of the value creation’s levers of the token.

SYL Tokenomics

Quantitative and qualitative analysis of SYL and its ecosystem, identification of the value creation’s levers of the token.