|Token price||1 ETH = 7,000|
|Tokens suplay||1 billion CMT|
|Hard cap||700 million tokens to be issued for the Token Contribution|
CyberMiles is a new blockchain protocol being developed for the sole purpose of revolutionizing how commerce & marketplaces work. Imagine a world in which consumers can buy and sell products amongst themselves with the same confidence and certainty as they would from Amazon, or Walmart. Or if individuals could create their own marketplaces, and manage these communities in a truly democratic way. And now imagine if you could help shape this technology by being part of the network? That is the world that CyberMiles is creating.
CyberMiles ("CM") is the blockchain technology being developed by 5xlab, a blockchain development laboratory. 5xlab is working closely with 5miles, a leading c2c marketplace operator with more than 12 million users in the US.
5miles is expected to be the first platform to utilize CyberMiles’ blockchain protocol, and will also assist 5xlab to develop the technology. Over the last 3 years of leading innovation in online & local marketplaces, 5miles has accumulated the necessary technical and commercial know-how to tailor blockchain technology & smart-contracts for real-world applications.
5xlab seeks to use this expertise to develop CyberMiles, with focus on trust and compliance. This will enable it to be a mainstream blockchain technology for real-world businesses.
- Platform Advantages
5miles comprises of team members with extensive experience from leading internet companies, e-commerce platforms, and financial services companies from 5 different countries. For the past three years, the team has applied their expertise to build a successful marketplace, which has become one of the leading shopping apps in the US, generating over USD 3 billion of annual transaction value.
- From 1 to 100
Compared to most blockchain projects, 5xlab already has a solid foundation, with 3 years of track record and 12 million users for its initial blockchain applications. Validated by approximately USD 62 million of funding from top VCs, and strengthened by its blockchain research over the past half-year, 5miles’ blockchain initiative has already gone from “0” to “1”. With 5xlab and the development of CyberMiles, we can realize our potential and go from “1” to “100” in our ability to disrupt real-world business practices with innovation.
- Clear Commercial Applications
With 5miles, we have a clear and readily available ecosystem for us to apply our smart-contract modules to real marketplace needs. With more than 10 million users and millions of commercial transactions, 5miles provides CyberMiles & its smart-contract modules with a mature ecosystem to quickly develop and scale up its marketplace applications. In contrast, most other blockchain projects first develop the technology, and then search for applications, which is inefficient and highly uncertain.
- Open Collaboration & Development
To further drive mainstream adoption, 5miles will establish a CyberMiles contracts market, in which its CyberMiles application modules can be licensed or jointly developed with partner platforms and agencies. Our smart-contract modules will be proven on our 5miles ecosystem, but can be applied to other platforms, and will also welcome collaboration with relevant agencies to ensure scalability of our solutions
- Striking Balance Between Efficiency and Compatibility
Traditional blockchains emphasize decentralization and compatibility across networks, but often at the expense of efficiency, which limits is appeal and usability for end-applications. Furthermore, a completely decentralized chain may be corrupted if too much poor-quality coding is accumulated. CM will focus on commercial applications, with protocols to ensure the appropriate balance between vertical effectiveness and network compatibility, limiting the ability for low-quality DApp to emerge on our chain.
- 5miles Enabling an Ideal Ecosystem for Blockchain Development
Almost all of the transactions and interactions on 5miles is point-to-point (between buyers and sellers), and a large portion of our users are both active buyers and sellers. Additionally, 5miles has a market-by-market footprint, establishing highly active and very dense user communities in each of its core markets. The point-to-point transactions within a community are ideal for decentralized blockchain solutions to provide greater transparency & marketplace efficiency. Meanwhile, the market footprint allows for scalable, real-world A/B testing, giving CyberMiles a huge developmental advantage.
- Dr. Lucas Lu, CEO/Founder of 5miles
- Dr. Michael Yuan, Director of the CyberMiles Foundation
- Alex Lau, Director of the CyberMiles Foundation
- Frank Lee, Advisor to the CyberMiles Foundation
- Amanda Bush, Advisor to CyberMiles and 5miles
- Malachi Boyuls, Advisor to CyberMiles and 5miles
- Mark Brinkerhoff, Advisor to the CyberMiles Foundation
- Garwin Chan, CFO of 5miles
- Rick Cantu, General Manager of 5miles
- Trey Troxel, Product Strategist at 5miles
- Valerie Coleman, Director of Business Development at 5miles
- Natasha Mehra, Project Manager at 5miles
- Apr. 2014
- Jun. 2014
5miles receives $5 million (USD) Series A investment from SIG.
- Oct. 2014
Testing of the 5miles app begins.
- Jan. 2015
5miles app launches in the US.
- Jun. 2015
5miles receives $17 million (USD) Series B investment, led by IDG and
- Nov. 2015
5miles introduces user-verification and fraud-detection technology, further
strengthening its’ innovative marketplace safety features.
- Jan. 2016
5miles’ gross merchandise value reaches $100 million; receives $30 million (USD)
Series B-1 investment, led by Blue Lake and Puhua.
- Jan. 2017
5miles surpasses 11 million users, becoming a top 10 shopping app in the US
(data from Similar Web); begins exploring blockchain initiative.
- Jun. 2017
5miles receives $10 million (USD) follow-on funding from existing investors
- Aug. 2017
5xlab formally launched, focusing on CyberMiles blockchain program; developing
- Oct. 2017
CyberMiles Foundation to explore the issuance of CyberMiles tokens (CMT).
- Dec. 2017
CyberMiles Foundation to launch v0.1 of CyberMiles’ “smart contract” modules.
- June 2018
5miles app to begin accepting CMT to facilitate multiple marketplace
- Dec. 2018
CyberMiles Foundation to launch v1.0 of CyberMiles.
- Mar. 2019
CyberMiles modules to be available for use on other platforms to facilitate