Our Public Sale is now Closed
The Sylo Token
Sylo Tokens (SYLOs) are utility tokens used by DApps and businesses to access and fuel the Sylo Protocol for confidential communications and storage. It is also the native currency within the Sylo Application, used by Sylo users to exchange value, use the Sylo Protocol and to interact with functionality provided by third-party DApps and businesses.
We are a software development house based in Auckland, New Zealand, that specialises in confidential communication technology. Our Product, Sylo, provides high quality confidential video calling, voice calling and messaging to professionals from all around the world. We are building the Sylo Protocol and further developing the Sylo Application to provide fully decentralised communication to Users and other DApps within the Sylo ecosystem.
Sylo is developing a decentralised communication protocol to enable users and businesses to interact online under the same terms as they currently can face to face. We are building a solution to the problem of the centralised data model, and the undue control and influence it provides to a very select few. Through decentralisation, we see a better way of providing similar functionality to users while giving businesses new ways to create and amplify value. At its core, its a fairer way of doing things.
Our team has extensive experience across the areas of technology, software and management; ranging from decentralised communication, to the blockchain, to biotech, to wearables. Together we have already brought to market the Sylo Applicaiton, as well as a range of other software and technology products in past lives. Sylo has also partnered with Centrality, a leading blockchain focused global technology provider to work closely with us to help further develop the Sylo Protocol. See the whitepaper for full team bios.
The SYLO token will provide to token holders access to the Sylo Protocol, associated technology, and to communication and storage functions within Connected Applications built on the Sylo Protocol.
Demand for SYLOs will grow as Connected Applications enter the Ecosystem, and as more users adopt the Sylo Application. SYLOs will be required for the following specific actions on the network
– Connection establishment
– Distributed storage
– Real-time charging of communications
– Profile and Address Book management
SYLOs will be required within the Sylo Application to:
– Access Connected Applications
– Use as a means of payment
– Purchase confidentiality-enhancing decentralised services
– Pay referral fees (from Connected Applications)
SYLOs will be required by Connected Applications to:
– Access the protocol (an Application fee)
– Pay referral fees
– Access promotional avenues within the Sylo Application
Additionally, SYLOs will be able to be configured by users to:
– Provide access to content in Sylo Storage
– Sell and buy content in Sylo Storage
SYLOs are created (minted) in a smart contract. When approved buyers send ETH to this smart contract they are sent the correct number of SYLOs in return to the specified wallet address.
No. SYLOs are minted and earned, not mined.
Sylo smart contracts facilitate confidential connections, data transfer, messaging, and other charge based actions on the Sylo Network.
Yes, these will be made public.
10% of the tokens will be used for incentivisation initiatives to encourage ecosystem growth and network adoption. 25% will be retained by Sylo as a reserve to be used for further protocol and platform related growth and development as required. 10% for developers to ensure incentive to grow the platform. The remaining 22.5% of the tokens used in consideration for the intellectual property.
The existing team who have been working on the Sylo Protocol since inception have been allocated 10% of the tokens to ensure personal incentive to grow the platform and build out the Sylo vision. These tokens will be subject to a 24-month lockdown to ensure true value is created in the project. There is no token allocation for advisors.
We are currently working with exchanges and expect to be listed on these exchanges within a reasonable timeframe post TGE.
Your token will be purchased in the token sales application. This is a decentralised process, and the token purchase happens automatically via a smart contract once ETH has been transferred.
We are anticipating all tokens to be sold during the sale. Unsold tokens will be allocated to Sylo to be used for incentivisation, growth initiatives and reserve.
The total supply of tokens is fixed at 10,000,000,000 tokens, which will be issued during the token sale. No further tokens will be issued.
You will store SYLOs in your own wallet, they are under the control of your own private key.
SYLOs will be able to be used within the Sylo Application after the successful transition of the Sylo Application on to the tokenised Sylo Protocol. As a token holder, you will have access to the Sylo Application and will also have access to extended functionality within the Sylo Application provided by Connected Applications. Additionally, you can use SYLOs if you are the developer of a Connected Application to use the communication aspects of the Sylo Protocol, as well as for various marketing avenues within the Sylo Application for your DApp. SYLOs can be used throughout the Sylo Application for various functions and add-ons, as well as for general chargeable actions that are undertaken within the Sylo ecosystem.
Users of Connected Applications benefit by using SYLOs to attain further features available within the Sylo ecosystem. Developers of Connected Applications can use SYLOs for technology integration and promotional initiatives. As demand for SYLOs increases, so will the amount of utility SYLO holders can gain from their SYLOs.
SYLOs are a utility token used to access and utilise the Sylo Protocol, and for extended functionality within the Sylo Application.
The main points of difference:
- SYLOs are the key enabler for completely decentralised communication for DApps and Users. This is a key point of difference from other messaging-based applications is that they are more focused on mainstreaming their cryptocurrency for use as a means of value exchange. SYLOs are different in that they are a utility token, required to initiate decentralised communications on the network with other extended features.
- SYLOs can be used to append a charge to specific communications and flows of data – unique functionality that enables many different applications to be built to facilitate charged communications. As such, the Sylo Protocol is a communication and charging network, allowing for use cases such as:
- Online professionals charging for online sessions (Counsellors, Life Coaches, Lawyers, Medical Professionals etc)
- Professionals charging by the minute for received phone calls
- Individuals charging for content they own incrementally as it is consumed
SYLOs are the interoperable token within the Sylo Application, meaning if a user has SYLOs, they can interact with any of the other DApp functionality without having to first acquire that DApps tokens. SYLOs handle the value exchange behind the scenes. We see this as a key enabler of mainstream understanding and simplifications of a feature rich environment full of different providers.
To date, we have been funded by independent angel investors based throughout Australasia. We have recently partnered with Centrality.ai to assist in realising our vision of a completely decentralised communication protocol. We have a number of other partnership associations we are working on and anticipate announcing these throughout 2018 as they are confirmed.
We are in a unique position in that we already have an application in the market that utilises decentralised peer to peer technology for real-time communications. Post TGE, the Sylo Protocol will be further decentralised, making the Sylo Application a completely decentralised communication application. The Sylo Application will also undergo further development to become the hub of the Sylo Ecosystem. with further functionality enabled by Connected Applications.
SYLOs will be issued by Sylo Protocol Pte. Limited. The company has taken legal, accounting and taxation advice regarding structuring of our token event
Token holders may need to take tax advice as to the tax consequences for purchasing and dealing in SYLOs, as the tax treatment varies by jurisdiction.
Please check your local regulatory guidelines on acquiring tokens. Only approved buyers can send ETH to the contract. Various countries, including the United States of America and China are not permitted to acquire SYLOs.