## What is IBAX Network(IBAX)?

IBAX Network is a public blockchain platform designed to make decentralized applications available on the network. The network runs on a Decentralized Proof-of-Authority (DPoA) consensus mechanism and aims to be an easy-to-use blockchain network not only for geeky developers, but also for all Internet users.

IBXC is the native utility coin of IBAX Network that is used for:

* Pay fees for processing transactions.

* Mining by staking IBXC on the network.

* Governance voting to determine how to allocate network resources.

* Pay other business or ecosystem operation cost.

IBAX tools include: 

* IBAX Weaver is a BaaS cloud-based developer platform that allows developers to create a customizable ecosystem of consensus mechanisms and complete coin issuance with simple drag and drop, making low-code development and zero-code coin issuance possible. Without the need to configure a development environment, which greatly reduces the time and threshold for developing DApps.

* IBAX Network Explorer to aid with both debugging of contracts and the understanding of network performance. 

* IBAX Testnet provides developers with a real Dapp test deployment environment to reduce development trial and error costs.

## How Many IBXC Coins Are There in Circulation?

IBAX Network will be launched its mainnet on Q2, 2022 with 2.1 billion IBXC Coins created at genesis. 

* Genesis Block: 0.25% is unlocked in the genesis block for the network launch and initial basic promotion of the ecosystem. 
* Private placement: 3% of the initial supply, The unlocking time is 3 years. At launch of the IBAX mainnet, 1/3 is unlocked. The rest is unlocked over 2 years.
* Mining: 58.75% of coins are reserved for mining, 
I. 40% for mining by real-world service nodes Mint Nodes
II. 18.75% for the metaverse NFT Mining.
* Ecosystem partners: 8%. Releases completely at the launch of IBAX mainnet but is locked in the Ecosystem address. Linear release according to the needs of partner projects.
* Team: 15%. The unlocking time is 5 and a half years. Starting from 6 months after the IBAX mainnet launch, releases linearly every month.
* Foundation: 15%. The unlocking time is 4 years. When mining starts on IBAX mainnet, during calculation of the first block, 1/4 is unlocked instantly. Next unlocks happen on the last day of each year. On the last day of year 4, the release of coins is completed.

## Who Are the People Behind IBAX Network?

IBAX Network is the brainchild of IBAX Foundation which was founded in Singapore in 2019 and is made up of a group of blockchain scientists and developers.

CEO Stuart Nichols is a multi-industry serial entrepreneur with experience in both the financial and software industries, exceptional marketing insight, and a data-driven leader who has successfully scaled software businesses from $5 million to $1 billion in revenue. Most importantly, he has proven talent for bringing people together.

COO Alan McIvor has extensive experience in business operations and project management, and as a professional recruitment consultant, he uses the network of contacts he has built over the years to help connect IBAX with the essential resources it needs. Alan also lectures in business at several Universities across Asia and Europe and publishes popular business and music content across several channels.

Our Senior Advisor Simon Hemmrich is a PhD at the University of Paderborn, Germany. He is a talented student with an unparalleled passion for blockchain technology and business prospects. He designs a business rating system based on blockchain technology to solve the problem of social trust between companies, and provides a larger market prospect for future business application scenarios. He is currently working on the scientific evidence that it can be used to solve the well-known Market Lemon problem. 

Most importantly we have a strong team of developers and developer community located in various global centers including Russia, Singapore and Turkey and with the contribution of these young talented engineers IBAX has built a global team through years of collaboration with the best in the industry. Having offices in three locations to better connect global resources North America, Europe and Southeast Asia 30+ R&D team with project experience covering multiple popular industries Collaboration with universities and research institutes in Germany, Turkey, Singapore, Taiwan, etc.

## Where Can I Buy IBXC Coin?

IBAX is a new star project on CoinMarketCap that is gearing up for an ICO, so stay tuned!

## More Info

IBAX is a fast, efficient, transparent, decentralized infrastructure blockchain network that allows everyone to create a DAO or customizable consensus mechanism ecosystem through its cloud-based BaaS platform called Weaver. It enables low-code development and zero-code coin issuance through simple drag-and-drop, thus significantly reducing the development time and barriers for DApps.

Much faster than Ethereum, easier to use than Avalanche, and more decentralized than Solana, IBAX is a blockchain not only for geeky developers, but also for ordinary internet users.

IBAX plans to build a metaverse with DPoA consensus, where residents of each metaverse can vote to modify community rules and participate in amending the metaverse. IBAX has invested a lot of effort in technical research to provide various eco-models to meet most of the current business scenarios in the world, and has made technical breakthroughs in both CLB cross-chain communication and homomorphic encryption for anonymous transactions.

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