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Ace Token (XAT)

Ace Token (XAT) is a utility, deflationary native system token.

Each token (1 XAT) initially has the following basic backing: 100 GB of traffic in the P2P CDN service; 200,000 video ads impressions, in VAST format; 3-day unlimited access to premium content; other services of the Ace Network, in accordance with the established tariff plans.

Ace Token gives access to all Ace Network services and facilities and is the sole means of payment for Network fees for account registration and transactions between Network members.

The starting rate of Ace Token after the initial issuance will be fixed at the level of 1 XAT = $1.

While exchange rate of Ace Token changes, the cost of services in the Ace Stream system will be adjusted automatically. Calculations are based on the initial and actual cost of services linked to the U.S. dollar, and furtherly will be linked to the Ace Coin cryptocurrency (XAC), which will be the main means of payment for settlements in Ace Stream system.

Issuing

XATs are pre-issued during system startup procedure, there issuance is 100,000,000,000 XAT.

90% of the tokens from the total issue will initially be locked in a special account (lockedPool), which only the system smart contracts and some types of oracles have access to.

10% of the initially unlocked tokens are distributed to the following programs:

  • 5% - for "DAO Ace Stream" development purposes
  • 5% - marketing programs
  • 10% - airdrop, under the program of incentives (encouragement and funding) for the creation and placement of exclusive premium content in the Ace Network
  • 70% - for the strategic development, expansion of the service infrastructure and customer base of the Ace Network (acquisition of shares in other companies in order to ensure high dynamics of growth in the number of network users; expanding the service and technological capabilities of the Network; acquiring rights to content for publication on the Web; providing the token with offline financial mechanisms ( financial institutions), for maximum convenience of using tokens in everyday life when carrying out mutual settlements; etc.)
  • 10% - charity and non-profit projects

All subsequent unlocked tokens are distributed in the following ratio:

  • 30% are transferred to an account managed by the Ace Stream Foundation (a non-profit fund for the support and development of the Network), of which:

    • 5% - for development purposes
    • 5% - marketing programs
    • 10% - airdrop, under the program of incentives (encouragement and funding) for the creation and placement of exclusive premium content in the Ace Network
    • 10% - charity and non-profit projects
  • 70% gets smart contact Ace Asset (by transferring to unlockedPool) for pro rata distribution to DeFi program participants Ace Assets

Inflation

Inflationary issue will be 1% per year of the total volume of activated (unlocked) tokens, including tokens generated by the inflation process itself.

New XATs are generated once a week by the inflation mechanism.

Inflation tokens are distributed by the DeFi program Ace Assets

Inflation Algorithm

XAT inflation tokens are issued weekly, automatically, according to the terms of the Inflation smart contract that implements the following formula:

inflationAmount = (totalTokens - lockedTokens) * 0.000190721

where

  • inflationAmount - volume of weekly issuance
  • totalTokens - the total number of XATs in the system at the time of launching the inflation operation (100 billion + the total amount of inflation tokens from all previous issues)
  • lockedTokens - the number of XATs that have not yet been released into circulation (locked in the system pool lockedPool)

The inflation is 1% per year (or 0.0190721% per week) of the XATs released into circulation.

The XATs issued by inflation procedure are transferred to the system pool inflation pool and are subjects of further distribution performed by Ace Deposit smart contract.

Deflation (token recycling/burning)

XAT is a deflationary token.

XAT tokens paid for services of the Ace Network will be disposed of (burned) by sending them to a non-refundable address on the blockchain by the terms of the smart contract System Service Payment.

XAT tokens paid for traffic or access to content will also be disposed of (burned) by sending them to a non-refundable address on the blockchain by the terms of the smart contract User Service Payment. According to this contract all XAT paid for traffic or access to content could only once be used for payment and have to be replaced by Ace Coin (XAC) tokens.

Examples of Ace Token burning are available here.

Info

Once the entire amount of the initial token issue (100 billion) is unlocked and burned, the annual inflation rate will be set to 1% of all tokens issued (100 billion + number of tokens issued by the inflation smart contract).

Unlocking tokens

Tokens from lockedPool are unlocked at the moment of burning a similar amount of XATs within following smart contracts:

The unlocked tokens should be evenly distributed among Ace Assets (XAS) holders. This is done in two steps:

Initial Offering

Private token sale, in the form of direct sales of Ace Token (XAT) tokens to strategic partners and users of Ace Stream.

The period of the private token sale: from 06/01/2022 to 11/31/2022. Attention! The token sale may be suspended ahead of schedule, at any time, by the decision of its organizers.

Participants of the private token sale will be entitled to purchase tokens with a discount of up to 50%, depending on the amount and date of purchase:

USD, $ Discount, %
Amount 06.2022 07.2022 08.2022 09.2022 10.2022 11.2022
Up to 1 thousand 10 9 8 7 6 5
1-10 thousands 15 13.5 12 10.5 9 7.5
10-100 thousands 20 18 16 14 12 10
100-500
thousands
25 22.5 20 17.5 15 12.5
500 thousands -
1 million
30 27 24 21 18 15
1-2 millions 32 28.8 25.6 22.4 19.2 16
2-3 millions 34 30.6 27.2 23.8 20.4 17
3-4 millions 36 32.4 28.8 25.2 21.6 18
4-5 millions 38 34.2 30.4 26.6 22.8 19
5-6 millions 40 36 32 28 24 20
6-7 millions 42 37.8 33.6 29.4 25.2 21
7-8 millions 44 39.6 35.2 30.8 26.4 22
8-9 millions 46 41.4 36.8 32.2 27.6 23
9-10 millions 48 43.2 38.4 33.6 28.8 24
From 10 millions 50 45 40 35 30 25

The acquisition of tokens within a private token sale is carried out by purchasing the rights to receive a certain amount of tokens.

As the result of buying Ace Stream releases the NFT (ERC-721) bound to amount of tokens sold to the person or organisation. Such NFTs guarantees their exchange for Ace Stream tokes when main network is operational. Circulation of NFT issued by private sell is not limited.

ERC-721 - token standard in the Ethereum network

The right to purchase tokens in the amount of up to $1000 is granted to any of the Ace Stream users who have activated any of the premium tariff plans (Smart, Standard, Premium).

Users who have activated the premium tariff on a date prior to 06/01/2022 receive a privileged right to purchase tokens in the amount of up to $10,000 and an additional 10% discount.

To participate in a private token sale, in order to purchase tokens worth more than $1,000, you must submit an appropriate application and receive an invitation from the organizer (Ace Stream).

After the private sale, it will be possible to buy tokens directly on the Ace Stream open trading platform, at a market price. In addition, OTC transactions will be available: tokens purchase directly from the organizer (Ace Stream). The sale of tokens by the organizer will be carried out at the market price, but not lower than the face value (1 XAT >= 1$).