Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Many projects have been carried out on blockchain platforms thanks to the Ethereum infrastructure. However, the vast majority of them are digital initiatives.
The CYCE crypto asset is a new concept meant to revolutionize the crypto industry by acting as a model for physical world investments.
The platform has been popularized for the last three months and proposes shifting our perspectives in ways that no one else has before.
Because cryptographic processors are utilized to mine in the blockchain system, energy usage is constant. Computers doing this procedure can be located anywhere in the world and use a combination of energy sources. Therefore, the extensive usage of blockchain in recent years, in particular, has resulted in a rise in energy consumption.
The CYCE project intends to eliminate carbon emissions in energy generation by establishing a carbon-neutral blockchain technology.
Let’s find out what it’s all about and how they plan to transform the crypto industry.
What does CYCE coin have to offer?
The CYCE crypto asset is an ERC-20 token on the ETHEREUM Blockchain. Its development aims to address the world’s most pressing issue, global climate change. Thus, Cyce wants to offer a solution to help create a healthy, sustainable environment legacy for future generations.
They are creating a system with a known source and trackable carbon footprint within the renewable energy power plants. Which will be invested in by constructing carbon-neutral verification (mining) computers for the blockchain infrastructure they are developing.
Essentially, CYCE Blockchain will be the most secure and cleanest blockchain system by sourcing its energy needs from renewable sources.
CYCE YES License
In Turkish, “YES” stands for Renewable Energy Power Plant. However, as CYCE wants to use the English term, they say yes to renewable energy and no to fossil fuel energy generation.
When a renewable energy power plant completes its registration through any communication channel, the system generates a CYCE YES License. The license will then be available on the power plant’s website.
Furthermore, licensed establishments will be updated regularly on the CYCE website, under the YES members category.
The primary cause of climate change is energy production, which contributes the most to the greenhouse effect. Despite these carbon reduction efforts, the production of energy from fossil fuels accounts for 84.3% of overall production.
Except for fossil fuel and nuclear power plants, all power plants generate energy from renewable sources. These power plants are as follows:
- HEPP (Hydroelectric Power Plants)
- WPP (Wind Power Plants)
- SPP (Solar Power Plants)
- BPP (Biomass Power Plants)
- GPP (Geothermal Power Plants)
- Wave – Tidal Power Plants
YES License reward system
The YES License also has a reward system. The primary premise of this initiative is to deposit as many CYCE tokens as possible into the power plant’s account as rewards. The rewards will come in exchange for 1 kW of installed electricity, indexed to the installed power capacity of carbon-neutral, renewable energy power plants.
The 6-stage VALUATION TABLE determines the reward scale for the plant in question. The CYCE tokens to be transferred are calculated by multiplying the total installed power amount by the VALUATION FACTOR (kW).
The determination technique is based on the amount of carbon or heat that the plant emits into the environment.
CYCE TOKEN ECONOMY
CYCE proposes to allocate 80% of the tokens’ total supply to existing renewable energy facilities and those to be built in the following 30 years, thereby raising the value of these plants. Thus, it aims for energy investments to be rapidly channeled to this field.
The remaining 20%, though reserved for the organization, will actually be used for creating carbon-neutral BIOMASS ENERGY POWER PLANTS, which are considered renewable energy sources. The funds will come from token sale profits.
Furthermore, as part of the same project, it plans to begin the cultivation of C4 energy crops, which is one of the solutions to the same problem, and to provide fuel for biomass plants through these means. C4 energy crops refer to plants that reduce the amount of carbon in the atmosphere by binding four carbons during photosynthesis.
CYCE TOKEN EXCHANGE PROCESS
CYCE has planned to carry out its listing on exchanges in three stages, and has already completed the first. After completing the first half of the second phase, CYCE will be officially listed on exchanges and on CoinMarketCap, both locally and globally, starting from August 13.
The stages for the CYCE Coin are as follows:
- Private Sale – Since its creation, the platform has been followed by the launch of the Private Sale platform, which took place on May 28. They have raised around 5,000,000 USD in approximately one month (the trading was done in ETH pair on MetaMask). On June 28th, this stage was completed.
- ICO – The ICO began on June 28. CYCE platform devised a seven-step method and set the first stage pricing at one dollar. It has completed the 500,000-phase, which was the first target. The second phase is near completed, and the ICO is scheduled to conclude on August 10.
- EXCHANGES – The first listing on an exchange is scheduled for August 13, and appropriate negotiations are still ongoing. They are in contact with local and international exchanges depending on their CoinMarketCap ranking.
What is next?
CYCE have reached an arrangement with BigONE, a top 25 exchange. The CYCE and BigONE teams are working hard to finish the listing by August 13.
BigONE exchange has a daily volume of 550,000,000 USD, according to CoinCapMarket data. It receives 350,000 visitors per week.
They have a strategy after August 13 too:
CYCE Exchange Team will ensure that everyone worldwide joins this ecosystem by regularly updating the public through their communication channels.
Licensing teams will continue to grow the ecosystem by completing YES licensing processes in Turkey and worldwide.
By establishing the Carbon-Neutral Mining System, developer teams will ensure the long-term viability of blockchain technology in this environment.
Are you prepared for the most significant change in the crypto world?
Then, follow CYCE on social media to keep an eye on them and see where the project goes: Telegram, Twitter, LinkedIn.
On the CYCE site, you can also access their communication channel and whitepaper in both English and Russian.
They also have a video explaining the entire project.