APIS Whitepaper

Saturday, June 16, 2018
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Contents 0. Abstract 1. Introduction and Problem Statement 02 2. What is a Masternode 02 2.1 Definition 2.2 Proof-of-Work(POW) and Proof-of-Stake(POS) 2.3 Masternode using POS method 2.4 Advantages and Limitations of a Masternode 2.4.1 Masternode’s Advantages 2.4.2 Masternode’s Limitations 2.5 Opportunities 3. The APIS Masternode Mediation Platform 05 3.1 Business Model 3.2 Platform Overview 3.3 Platform Configuration 3.3.1 Masternode Core 3.3.2 Masternode Hub 3.3.3 APIS Core 3.4 Platform Accessibility and Security 3.5 Platform Operating System 3.5.1 How to get an APIS coin 3.5.2 The APIS Core – PC 3.5.3 The APIS Core – Mobile 3.5.4 Reward Distribution 3.5.5 APIS Coin 3.5.5.1 APIS Specifications 3.5.5.2 Features of APIS 3.5.5.3 Benefits for APIS Users 3.5.5.4 APIS Vision and Platform Scalability 4. Token Sale 19 4.1 Private Offering Stage 4.2 Pre-sale Stage 4.3 Crowd Sale Stage 5. Budget Allocation 21 6. Roadmap 21 7. Disclaimer 22

0. Abstract other specific functions. The most distinctive characteristic The APIS is building a “Masternode Mediation Platform” of a masternode is that the users can deposit their money to familiarize the term “masternode” to a larger range of in a “masternode product” and earn a portion of the block people and let them enjoy the advantages and benefits of rewards in the form of the cryptocurrency they invested a masternode. This paper is intended to give an overview in. The yield varies primarily according to the masternode of our approach in attaining this goal from explaining the count and each coin might have different payout periods. concept of a masternode to elucidating how we will make This makes masternode a means to generate “passive this unfamiliar concept known to wider variety of people. income” from cryptocurrencies without having to run expensive mining equipment or having to actively invest 1. Introduction and Problem Statement in exchanges. To create a masternode, a user only needs The APIS is a masternode mediation platform that to lock in a specific amount of coin. Users can then either enables the entire spectrum of users to have easy access set up a server to host the masternode or ask a service to the two-tier incentivized network, also known as the provider to do so on their behalf. “Masternode Network”. Masternodes refer to nodes in the cryptocurrency market that fulfill a specific function 2.2. Proof-of-Work(POW) and Proof-of-Stake(POS) beyond simply relaying transactions (Its definition will Coin mining can be divided into two different methods: be further developed in the paragraphs to follow). A POW (Proof-of-Work) and POS (Proof-of-Stake). POW is a masternode’s most distinctive feature is that any investor system in which the higher the hash reserve is, the more investing in a masternode can acquire stable and almost blocks one can find for more coins. There is also the guaranteed profit just by locking up his/her money in concept of “difficulty” in order to keep the block-generation the masternode for a fixed amount of time. However, time constant. The difficulty increases as the total hash despite its attractive characteristic, hosting a masternode increases and more hashes are required for finding is quite out of reach for most individual investors since more blocks along with the increased difficulty, which most masternodes require substantial capital and intricate consequently leads the block generation time to remain software engineering to set up. constant. However, this POW method has some limitations. By aiding these average individuals come together to On the economic side, there are cost problems such as form a whole masternode, we will be able to encourage high electricity consumption, high costs of expensive more people to participate in masternode investments mining equipment (ASIC, GPU, etc) and their maintenance, as well as provide them with a much safer investment as well as security and centralization issues regarding hash channel rather than investing in the exchange market monopolization. For most coins, the POW method had without adequate knowledge. been chosen in the past and the most typical examples are Bitcoin, Litecoin and Ethereum. 2. What is a Masternode? POS is a method designed to solve the biggest 2.1. Definition drawbacks of POW, namely security issues caused by Masternodes are “servers” in the cryptocurrencies hash monopolization and high cost for the purchase of network that relay transactions and sometimes also process equipment and their maintenance. For POS, the higher the 2

stake proportion for the entire coin supply, the higher the MEME USD Coin acquisition amount for the additional coins issued. In other Monthly Income 940.30 709.674 words, the role of “hash” in the POW method is equivalent Yealy Income 11,440 8634.367 to the role of “stake” in the POS method. More simply, ROI(Annual) 57.56% it can be conceived as being similar to bank interest. In addition, the POS method can also achieve strong security KORE USD Coin just by linking multiple wallets that keep coins inside. In Monthly Income 50.322 11.91 recent years, coins based on the POS method have been Yealy Income 612.26 144.905 increasing and existing coins are also changing from ROI(Annual) 28.98% the POW method to POS method. Ethereum is a perfect example of this. A masternode guarantees stable Return On Investment (ROI), the profit gained from an investment. High ROI 2.3. Masternode using POS method signifies that the investment was successful and cost- Masternodes include mining through the POS method. In efficient. In other words, ROI is a financial term used to the case of mining, block generation time varies according measure the efficiency of investments and investment to mining difficulty, and the mining output also changes methods. according to the number of masternodes formed in the For example, 1,000 DASH coins, a typical masternode coin, blockchain. In general, masternode coins are hybrid in the purchased as exchange a year ago at USD 8.82 (December sense that they consist of both POW and POS methods. 1, 2016) would have generated an ROI this year of about They will follow the POW method up to a specific block and 9040% as DASH prices soared from USD 8.82 to USD 806.18 subsequently change to the POS method after that. as of December 1, 2017, but the number of DASH coins possessed would still remain the same at 1,000. 2.4. Advantages and Limitations of a Masternode However, the calculation would be significantly different 2.4.1. Masternode’s Advantages if one bought 1,000 DASH coins a year ago and formed PIVX USD Coin a masternode instead of buying them as exchange. The number of coins one would have this year would have risen Monthly Income 217.80 10.7422 to 1,088 and the ROI would have risen to 9844%; needless Yealy Income 2,649.98 560.129 to say that if the coin price increases continuously, the ROI ROI(Annual) 5.60% would be even greater. What is more interesting is that even DASH USD Coin if the coin price declined, one would still be able to manage Monthly Income 5,339.98 6.753 one’s risks since the investor could still earn additional Yealy Income 64,969.78 82.1615 coins generated from the masternode regardless of price ROI(Annual) 8.22% fluctuation. Stable profit as the biggest advantage * As of December 12, 2017 3

2.4.2. Masternode’s Limitations Amount of money/coins required for the formation of each masternode Coin / detail Price Change Volume Marketcap ROI Nodes # required Mn Worth SIBcoin (SIB) $2.4898 25.14% $5,777,790.000 $39,699,846.00 8.42% 7,484 1,000 $2,489.75 Dash (DASH) $761.456 -0.05% $179,460,000.00 $5,889,854,116.00 8.63& 4,085 1,000 $761,456.00 Chaincoin (CHC) $0.5095 43.45% $98,033.00 $7,208,127.00 54.77& 2,356 1,000 $509.48 Crown SN (CRW-SN) $1.6151 8.92% $237,427.00 $26,301,331.00 40.41% 2,229 500 $807.53 PIVX (PIVX) $5.3692 1.71% $4.156,010.00 $295,627,784.00 5.75% 2,115 10,000 $53,692.00 ArcticCoin(ARC) $0.0534 -4.25% $26,568.70 $1,312,748.00 18.05% 1,684 1,000 $53.42 PURA (PURA) $0.6333 8.23% $593,478.00 108,903,009.00 1.93% 1,022 100,000 $63,330.80 Crown (CRW) $1.6151 8.92% $237,427.00 $26,301,331.00 23.00% 979 10,000 $16,150.50 MonacoCoin (XMCC) $0.5255 75.60 $18,237.40 $1,379,848.00 66.78% 763 1,000 $525.49 Innova (INN) $4.1425 -0.52% $86,670.80 $3,647,433.00 374.51% 614 1,000 $4,142.51 ▲ source : http://masternodes.online However, the problem that most people face when forming a masternode is that in order to form a masternode, there is a minimum number of coins that investors need to possess, which often exceeds the capacity of most ordinary investors. For example, the minimum amount required to form a DASH masternode is 1,000 DASH coins (equivalent to USD 760,000). Another example is STRATIS coin, which requires 25,000 coins (equivalent to USD 1,700,000) to form a masternode. System build-up and maintenance that require professional knowledge is another problem that deters most small investors. For example, a well-known masternode coin, DASH, requires both 1,000 DASH coins to form a single masternode and 24 hours of non-stop servers and related programs for stable operation. 2.5. Opportunities Bitcoin volatility means “more regulation” of cryptocurrency is on the way. As can be inferred from the graph above, Bitcoin's price volatility outstrips all other assets. High volatility implies high risk and this is the main reason why many people regard investment in cryptocurrency as “speculation”, thus bringing about various regulation. This misconception has become an obstacle to the development of cryptocurrency, in a further sense, blockchain. However, with the introduction of masternode investments, ordinary investors can now minimize their risk taking and still generate sizable earnings. Moreover, now that many investors are seeking to find a reliable place to invest their money, it is high time that we start focusing more on masternode platforms rather than existing exchange markets. 4

Scope / content Cointry Addition information China Banks and payment systems prohibited from dealing in bitcoins. Individuals free to trade. Prohibition Russia Bitcoins cannot be used by citizens legal entities. Iceland Foreign exchange activities with Bitcoin illegal. Prohibition df ATMs Taiwan Approval For bitcoin ATMs refused. Finacial intermediaries to verufy the indentities of their customers and report suspicious Protection from Singapore transaction. money Laundering & illicit activities Bitcoin exchanges and most miners obliged to collect information on potentially suspicius financing USA transactions and report these to the federal government The sale, exchange or use of Bitcoin for payment in a real-world economy transaction may USA result in tax liability. The tax will cover gains from trading Bitcoin, purchases made with Bitcoin and revenues Japan Taxing Bitcoin from transctions. Banks and securities firms will be prohibites from Bitcoin trades. Rules on taxation of capital gains apply when profits are made from transfer to another Finland currency. increase in value in Bitcoin after it was obtained as payment is also taxable. Germany Profits from mining or trading subject to capital gains tax unless hoarded for at least one year. 3. The APIS Masternode Mediation Platform 3.1. Business Model Cryptocurrency, which has emerged with the development of blockchain that opened up with the Fourth Industrial Revolution, is characterized by decentralization, anonymity, and reliability and is now attracting new investors from various fields. Nevertheless, large price fluctuation is making cryptocurrency investment seem “speculative” and is raising fears of becoming a social problem. The APIS Masternode Mediation Platform will provide both investors with a steady income with minimized risk and the market with reliability, accessibility and price stability. Ultimately, APIS aims to become the first key currency of masternode coins and will ensure complete anonymity. 3.2. Platform Overview The APIS Platform (also called “The APIS Core”) is a Ethereum public-chain based masternode mediation platform that aims to help individual and corporate investors invest in desired masternodes easily and effectively. It supports both PC (personal computer) and mobile devices, thereby providing users with the chance to make stable profit and enjoy more cryptocurrency’s benefits conveniently. This section explains the importance of the APIS Core along with the usefulness and innovativeness of its official coin “APIS (Advanced Property Investment System)”, named after the ancient Egyptian bull deity. 5

In the case of existing masternode coins such as DASH, MEME and others, not only maintaining a certain amount of coins on the software wallet but also implementing them on a Linux server that can be operated 24 hours stably is also very crucial. However, these conditions are problematic for most people as they are not familiar with IT and resolving maintenance problems inherent in hardware management, software update and security assurance. One purpose of our platform is to deal with such inconveniences and let non-professional investors who wish to form a masternode take part just by becoming a member of the APIS Platform without having to consider any of the annoying complications such as hardware or software manipulation. 3.3. Platform Configuration 3.3.1. Masternode Core A masternode core is a distributed database consisting of cutting-edge encryption technology to manage APIS Masternode user reports, shares and trading records on the platform. Individual participants’ wallet information is securely stored in the form of a Ethereum-based blockchain that also ensures system stability and asset protection through systemic data backup and restoration. Masternode information that is already incorporated on the platform will be accessible in the future through API and SDK that will be provided and all data communication will be encrypted as well. Through this process, we can strengthen the scalability of the APIS mediation platform. 6

3.3.2. Masternode Hub Masternode Hub composes and manages various coins such as DASH, MEME and BTDX's masternodes systematically. When a masternode is newly formed from investor participation, the masternode hub automatically creates VPS (Virtual Private Server) for each masternode, prepares required up-to-date software and operates the masternode by depositing designated amount of cryptocurrency in the wallet through the masternode core. All processes are carried out automatically and the investors are informed with a push-message every time there is progress in the procedure such as the building of VPS, installation of software and creation of wallet. Masternode Hub constantly reports rewards obtained from the running of each masternode to the masternode core and allows investors to clearly track their interests through the APIS Core. Masternode Hub's hardware operates 24 hours by our highly-experienced management team. 3.3.3. APIS Core APIS Core manages user information as well as APIS assets and provides all core functions that correlate with the masternode core. APIS Core is an EVM (Ethereum Virtual Machine)-based blockchain program that can be connected with various platforms such as Ethereum or Qtum and it makes use of POS methods. APIS Core supports multiple Operating Systems (OS) such as Windows, Linux, Mac, Android and iOS. 3.4. Platform Accessibility and Security Distributed Network of APIS Distributed Denial of Service(DDoS) attacks aimed at cryptocurrency are increasing these days. Cryptocurrency network at its incipient stage is very vulnerable to attacks owing to its small number of nodes. Moreover, if nodes consisting a network are regionally concentrated or disproportionately dispersed, there is a high chance that the transaction signals might decrease in their efficiency. In order to prevent this from happening, we will distribute our networks and evenly provide signals to different places. For this purpose, APIS will build its system servers all around the world distributed and these servers will be located in main IDCs worldwide, operating multiple servers. 7

3.5. Platform Operating System When users transfer other cryptocurrency(such as Bitcoin or Ethereum) to the APIS Core, they receive APIS coins of the same value converted, which means all investments on this platform are carried out in APIS coinage and are ready for investment in desired masternodes through a function in the APIS Core. Once the investment terminates, investors can receive their rewards according to their share/contribution. 5% of the company’s interest generated from the APIS masternode mediation platform will be donated to related foundations of blockchain programming and development to improve current poor development condition. 8

3.5.1. How to get an APIS coin a) APIS coin can be purchased at other exchange platforms(to be listed) b) APIS coin can be purchased in the APIS Core by sending other cryptocurrencies such as Bitcoin and Ethereum to the APIS (Wallet in the APIS Core(Cryptocurrencies sent will be automatically converted to APIS of equal value) c) APIS coin can be purchased in our webpage using Paypal or other cryptocurrencies. 9

3.5.2. The APIS Core -PC The APIS core is a proprietary program that supports investment in masternodes of various cryptocurrencies, investment in the APIS masternode, APIS coin charges, APIS coin deposit and APIS coin withdrawal. The role of the "masternode selection" function is to let users identify the conditions of a certain masternode such as ROI, technology and price needed to form its masternode. Once the user selects a masternode to invest from the list in the APIS Core, the user can send any amount of his/her APIS coins to the desired masternode. Example) Kevin wants to form a DASH masternode to make stable income, but he can only afford 100 DASH coins whereas the minimum number of DASH coins needed to form a DASH masternode is 1,000. Kevin is aware that he can use the APIS Core to form a DASH masternode with only 100 DASH coins. Once the designated time for investment ends, Kevin will receive 1/10 of the total reward gained, which includes both principal and the total reward gained. 10

3.5.3. The APIS Core - Mobile MAIN A. My Account - Shows Total APIS, APIS Available, APIS in Installment B. Masternode - Used when checking and joining masternode installment products C. Deposit - Used for depositing APIS coin D. Withdrawal - Used for transferring APIS to other accounts or platforms E. My Activities - Displays all the activities conducted by the user My Account A. APIS Logo B. APIS Balance - ‘APIS Core’, namely, shows the total amount of APIS in APIS Wallet, APIS available and APIS in installment C. My ID Number - Show the user’s serial number D. Deposit - Used for depositing APIS in APIS core. Upon clicking, connects to the internet browser. The user gets to transfer cryptocurrency to our APIS Wallet (“My ID No.” required) E. Withdrawal - Used for transferring own APIS to other accounts or platforms 1) Deposit A. Recipient’s Information -User gets to select the currency he/she wants to send -Deposit address generated according to the currency that the user intends to send B. Deposit Details -Sender’s Serial Number -Amount of currency to deposit -Desired deposit amount will be automatically converted to APIS value real-time -Transfer the currency to our company’s wallet and submit a form with user’s serial number on it 2) Withdrawal A. Total APIS -Total APIS including the ones in installment B. Withdrawable APIS -Usable APIS excluding the ones in installment C. Recipient’s Address -Write down the recipient’s APIS blockchain address D. Withdrawal Amount -Amount to be withdrawn(in APIS) 11

Masternode A. Status Board - Shows all the POS-based and ongoing masternode products - Shows each masternode coin’s information such as interest rate, minimum APIS required to form a masternode and installment period - If any of the coins seems reasonable, then one can ‘select’ and start on the installment B. Registered Product - Lists all the masternode products that the user currently is registered in - By clicking on the product names, the user can see the details real-time Status Board Example A. Lists all the coins that are available for masternode installment B. Lists information such as coin’s name/current price/minimum requirement/installment period 1) Registered Masternode A. Ongoing - Products that the user is now in and is currently ongoing - Shows details such as installment time left and interest B. Completed - Lists the ones that the user had participated and are completed 2) My Activities A. Masternode - Shows all the masternode products that the user had participated in B. Deposit/Withdrawal records -Shows all the deposit/withdrawal records of the user 12

3.5.4. Reward Distribution If the user chooses to receive the interest in the from of the paritcular coin he/she invested, a small fee applies. Conversely, if the user chooses to receive the interest in APIS, there will be vo fee charged. 3.5.5. APIS Coin 3.5.5.1. APIS Specifications Types BTC ETH APIS Coins Issued About 16.5 milion About 96 milion 9.52 bilion Decentralization Middle Low High Stability Middle Middle High Transaction Fee 0.0005 BTC 0.01 ETH 0.005 APIS Method POW POW POS Distributes Opensource Centralized opensource Decentralized Opensource Governance Model governance governance governance - Total amount of coins issued : 9,520,000,000 - Block Time : 120 seconds - BLock Reward : Decrease by 11.37% per year - Minimum Number of APIS needed to form its masternode : 50,000APIS - Anonymity : Kept through “APIS Private Send” 13

3.5.5.2. Features of APIS 1) Comlpete Anonymity *Impossible to Know whose APIS coin is withdrawn among different APIS investors On the APIS Core, every time a user makes a transaction, the currency sent is pooled with other users’ currencies automatically, making it impossible to track where the currency originated from. This function is similar to that of Stratis Breeze Wallet’s Tumblebit function. However, APIS goes a step further as users can freely exchange their APIS coins with the currency used for investment; the same rule applies when getting the interest back. This function is particularly useful for individuals or corporations that do not want to leave any trace of their transactions behind. The APIS Protocol is the one that processes all these in the APIS Core. Users can send their currencies confidentially and anonymously through the “APIS Private Send” function. This ensures that all masternodes on the network provide this anonymization service, so there is no centralized party to attack or interrupt the transaction. 2) Atomic Swap and Lightning Network A technology scheduled to be applied in Q4 2018, Atomic Swap refers to the direct transaction between two different coins operated on separate blockchains. The distinguishing trait of this technology is that there is no third-person or party involved in the middle. Once applied, it will make it greatly easier for investors to buy cryptocurrencies, as no further complicated maneuvering of any kind is required. Once commercialized, users will be able to buy coins directly from their wallets without having to go through separate platforms. In the APIS platform, we are planning to apply this technology in masternode formation in the sense that users’ APIS will be automatically converted to specific coins that they want to invest in through Atomic Swap. 14

3) Lightning Network Just like Atomic Swap, Lightning Network is also a by closing out channels with uncooperative participants. technology that makes use of "hash time lock contract". By doing so, uncooperative participants that still want The only difference between the two is that when Atomic channels open can be ruled out, taking part in service DoS Swap connects blockchains, Lightning Network connects attacks. each payment channel. If A and B have a payment channel and B and C have a However, in order to ensure that all the uncooperative payment channel, A and C can trade through B even if A channels are closed and attackers ruled out, each does not trust C personally. For example, Rachel, who only participant in the payment chain should be able to has 1 Litecoin intends to buy Jack's car that Jack labeled monitor all the participants. There is also the problem "1 Bitcoin" as the price. Rachel and Robert already have of six individuals having to keep track of transactions a Litecoin channel open, and Jack already has a Bitcoin with Litecoin, even if only 2 people in the chain use a channel open with Robert. Rachel sends 200 Litecoins Litecoin channel, in order to prevent possible blockage to Robert and Robert sends 1 Bitcoin to Jack. All these of the channel. This problem, however, can also be easily transactions are carried out by hash time lock contracts resolved if our platform performs the role of middleman. and Robert functions as the payment conduit that does not require trust between Rachel and Robert in these transactions. If Rachel and Jack had both their Litecoin and Bitcoin channels open with Robert, they would have been able to exchange their coins via this platform called "Robert". If Rachel sends 200 Litecoins to Robert, then Robert transmits these directly to Jack. Similarly, the 1 Bitcoin that Jack sends to Robert will be forwarded directly to Rachel. These transactions are also made possible through hash time lock contracts and Robert in this case, functions as an altcoin exchanger that does not require any degree or form of trust between the two entities involved. Robert's role in this case, is what our masternode mediation platform, the APIS Core, would undertake. However, in order for the successful launch of lightning network, we first have to deal with service DoS problems. Even though Lightning Network itself is already devised to deter malicious individuals from stealing coins, someone in the middle (Robert in the case above) can postpone or block the transaction. Such concerns can be resolved 15

3.5.5.3. Benefits for APIS Users We are aiming for a differentiated operating policy from existing masternode coins. In the case of APIS, we adopt a hierarchical operation system by differentiating rewarding rates according to the amount of investment made in the APIS masternode. Moreover, by applying Parallel Masternodes Technology, POS Algorithm, we will realize 1 PC - Multi Masternodes, but not 1 PC - 1 Masternode. Grade No. of APIS Bounce 1 (General) 50,000 N/A 2 (Major) 200,000 +5% 3 (Private) 500,000 +20% 3.5.5.4. APIS Vision and Platform Scalability ever yday users. A s a result, deployed smart The ultimate goal of APIS is to “lower the entry barrier of contracts are hardly user friendly, if usable at all. cryptocurrency for everybody to join”. In order to make this Smart contract end-users are also forced to utilize possible, we will start by achieving the followings: the user interface provided by the core program of the respective cryptocurrency or web-based application, 1) Smart Contract on Canvas so a smart contract may have more than one correct As bitcoin’s simple script is evolving into smart use case, which could further confuse its already contract with Ethereum, the use of cryptocurrency is also perplexed users. As a result, users often have to refer expanding into various areas including ICO funding, token to technical manual for the smart contract they are issuance, identity verification, and cloud storage service. using or get help from experienced individuals. This is However, most “smart contracts” are not so counterintuitive to the whole concept of smart contract, smart; they are heavily developer focused and which is to make cryptocurrency accessible to many users. often neglect much needed user interface for APIS plans to solve this problem by 16

implementing so-called “smart contract on canvas.” masking” concept to the reality for this particular reason. Smart Contract made smarter Developers can register Through the APIS core program, anyone can register UI elements(the canvas)written in HTML when they a simplified address that gets rerouted to their original deploy their coded smart contract on the blockchain. hexadecimal address. The simplified address consists Canvas consists of a single HTML file and can include of a name identifier, @, and a domain name. Such CSS, javascript, and image. Javascript code included in easily identifiable, simplified address can increase the contract can be obfuscated, but it is recommended user recognition of each address and resolve issues that obfuscation is not conducted in order to provide arising from sending and receiving complex address. transparent data processing mechanism to the contract To prevent uncontrolled creation of address and users. Image files can be registered to the document their abuse by random individuals, public use through Base64 encoding. SmartContracts element addresses and authorization-requiring addresses implemented in javascript can be called within a canvas. are distinguished. Open domain addresses that may be owned by any individual are limited to the The HTML file that functions as canvas cannot be following, but can be added through user requests: saved on the blockchain, so developers must provide an Me(personal wallet), edu(educational facility), environment in which canvas files can be accessed through com(company), org(organization and group) web addresses. Theses addresses could be allocated through creation of CanvasLocation variable within the The owner of a domain has the authority to mask smart contract. In addition, the entire canvas code must the given address and can transfer that authority to be hashed with Keccak-256 and saved on the CanvasHash another person through ownership validation. Owner variable in its respective smart contract to prevent of a masked address can also change the original secretive, unannounced changes. Through these measures, wallet address linked to that masked address through applications can decide on the existence of a canvas, ownership validation in the form of a wallet private key. organized a GUI, and verify immutability of the canvas used. In case of a dispute regarding a masked address or a domain, their ownership may be changed or 2) Address Masking even terminated in accordance with the decisions The use of Public and Private Key in cryptocurrency made by the countr y-le vel settling authority. is innovative in the security perspective, but the actual In order to deter uncontrolled address creation, there will written addresses such as hexadecimal address is be a certain fee associated with masking an address. near impossible to use without copy and pasting, not to mention memorizing. It’s not an overstatement to 3) Mineral System say that user convenience was not among the highest Most cryptocurrencies present in the market today has a priorities when cryptocurrency addresses were developed. small fee for using the resources required for transfer of the For blockchain technology to go mainstream, however, currency or smart contract initiation. This fee is provided complex address such as the ones used now must also be to the node creating a new block as block reward, thereby simplified like phone numbers or email addresses in order giving incentive to people running nodes to continue running to be used by the masses. APIS aims to bring “address them. However, most cryptocurrency users are seldom 17

involved with block rewards, so the fee typically comes off as a burden of cryptocurrency use, not advantage. Although the fee is small, each and every transaction necessitates a fee. This is rather cumbersome and inefficient, particularly in countries where domestic bank wire to the same bank does not require a fee. Cryptocurrency use fees may therefore be a major barrier to entry for people who wish to use the currency in a daily basis. APIS aims to improve this fee system by introducing the Mineral system. To use smart contract on APIS or transfer APIS to another wallet, a separate currency called Mineral must be used. APIS users may purchase Mineral through APIS whenever required, and the APIS tokens spent on such transactions will be distributed as block rewards. Mineral could also be obtained as interest to APIS tokens placed in a personal wallet. Mineral will be distributed proportional to the amount of APIS tokens held in the wallet. The upper limit of Minerals receivable as interest can also be adjusted depending on the level of contributions a wallet has made to APIS network(such as APIS transactions), so the most active APIS user can receive the most Minerals. Of note, Minerals can only be used as transaction fees; they cannot be sent to another wallet or user and cannot be exchanged into APIS. Mineral still provides almost no-fee environment to active APIS users, so a significant increase in user transactions is expected as users attempt to minimize their fees. Mineral system will therefore help real-world use of APIS ecosystem.means a greater “fee” for them. To improve this disincentive, APIS will do the following. 1) Mineral will automatically accumulate according to the amount of APIS stored in the wallet. 2) Mineral can be purchased with APIS, but Mineral cannot be converted to APIS. 3) Mineral cannot be sent to other addresses, but can only be created and burned. By creating this new Mineral system, we intend to contribute to the popularization of the cryptocurrency market by enabling faithful users of APIS to carry out several transactions without any fee. 18

4. Token Sale Our APIS Token Sale amount this time is 5,236,000,000 APIS, which is 55% of the total APIS valued at 1,000,000 QTUM. 35% of APIS shareholding(equivalent to 45% of total APIS) will be locked-up for an year after listing and 10% will be used as liquid asset. All stage's unsold token will be burned. Our sale this time will be divided into 3 main stages. 4.1. Private Offering Stage Coins Allocated : 1,380,000,000 APIS / 240,000 QTUM Many leaders in related fields, companies and angel investors contributed to the establishment and development of the APIS platform. In return, we are providing a bonus of 15%. In other words, 1QTUM = 5,750 APIS Total capitalization for this stage is 240,000 QTUM. All the APIS tokens sold in Private Sale will be locked up for 3months after listing. 4.2. Pre-sale Stage Coins Allocated : 756,000,000 APIS / 140,000 QTUM As a means of appreciation for APIS early investors, we are planning to sell APIS through Qtum Smart Contract before the actual crowd sale begins. There will be a 8% bonus given. 1QTUM = 5,400 APIS Total capitalization for this stage is 140,000 QTUM. 4.3. Crowd Sale Stage Coins Allocated : 3,100,000,000 APIS / 620,000 QTUM In this stage, we are planning to sell APIS through Ethereum/Qtum Smart Contract. 1QTUM=5,000APIS. The Total Cap for this stage is 620,000 QTUM In this stage, we will set-up global communities and attract investments from the general public(except US and China) for the development of the APIS Platform. -Currency Supported : QTUM, ETH -Participation Routes : Official Website, Platforms in countries like Singapore, England, Russia, Japan, Canada and Thailand. Token Sale APIS Sales Plan Private Pre-Sale Crowd Sale Total Sale Amount 5,236,000,000 Sale Amount 1,380,000,000 756,000,000 3,100,000,000 Token Bonus 15% 8% - APIS per QTUM 5,750 5,400 5,000 ETH/QTUM ratio will be APIS per ETH - - announced 2 hours before the sale and will follow CMC * ETH/QTUM ratio will be announced at Website. 19

5. Budget Allocation The APIS Platform will be developed by QTUM, ETH financed through crowd funding. The fund will be used for six years. 1) Development 3) Market and Marketing Costs APIS team will spend most of the fund raised in In this Internet era, a good application can never do developing the system and reinforcing members such without market promotion, reasonable marketing, and as the Development Team, Production, Operation and business cooperation. The APIS team will use 20% of the Maintenance Team, Android/ios team, APIS and Web funds for market and marketing activities and will strive to Community Team, Test/Management/Maintenance Team, promote and disseminate APIS worldwide. Big Data Statistics Team and the Design Team. Through The APIS social networks will support eight different this, we will ensure our platforms’: languages: English, Japanese, Korean, Simplified Chinese, - Security Traditional Chinese, Russian, Spanish, German and Thai. - Scalable design with easy maintenance More languages are planned in the future and we are - Highly reliable professional operation and maintenance team positive that through reasonable market and marketing budgets as the basis, APIS will become the most widely 2) Platform operating costs used currency worldwide. Moreover, in order for users to Good products come from good operation. The APIS better understand the APIS platform, we will actively take team uses 20% of the funds to build professional products, part in various blockchain activities for global promotion operations and customer service teams. We will handle and marketing. customer issues in a timely manner, actively respond to the needs of the local community and continue to remedy products promptly. 20

6. Roadmap 2018. 05 2018. 07 2018. Q4 - APIS testnet run - Launch of mainnet - Mobile app release - Listing - APIS token swap - Test on atomic swap,breeze wallet, - APIS web wallet release tumblebit - Launch of Masternode platform - APIS dApp ECO 2018. 06 - Snapshot - Masternode platform closed 2018. Q3 Beta - Implementation on services - PC APIS wallet release (address masking, smart contract - Mobile APIS wallet release on canvas, mineral system - Launch of APIS ECO website 21

8. Disclaimer The information provided in this whitepaper and of crowd-sales, we will constantly adjust the sale strategy accompanying material is for informational purposes only. of tokens, and avoid relevant legal risks to the largest It should not be considered legal or financial advice. You extent; should consult with an attorney or other professional to determine what may be best for your individual needs. 3. American investors: in accordance with law, we will APIS and the APIS Team do not make any guarantee or screen investors based on a series of conditions (e.g., other promise as to any results that may be obtained from American citizens having over $200,000 in annual income using our currency or content. No one should make any or whose spouse has over $300,000 annual income can investment decision without first consulting his or her own participate in crowd-selling) to guarantee that American financial advisor and conducting his or her own research citizens participating in the crowd-sale are "Accredited and due diligence. To the maximum extent permitted by investors." Those not screened cannot participate in the law, APIS disclaims any and all liability in the event any project’s crowd-sale; information, commentary, analysis, opinions, advice and/ or recommendations prove to be inaccurate, incomplete or 4. Non-American investors: in terms of technology, unreliable, or result in any investment or other losses. applying the same standard to non-American investors is Content contained on or made available through our unnecessary. However, as American legal requirements website or affiliated websites or social media channels are stricter, the legal team requests us to apply the legal is not intended to and does not constitute legal advice restrictions that accord with American laws to non- or investment advice and no attorney-client relationship American investors. is formed. Your use of the information on the website or materials linked from the Web is at your own risk. Legal issues of tokens crowd sale: 1. As a digital asset, most tokens are directly sold by the team. The sale of the APIS at the pre-ICO stage will be conducted in private, and will allow qualified investors in the United States and China to participate. It will not be administered by the Securities Act and does not violate relevant requirements of China's regulators. The remaining tokens will inhibit American and Chinese citizens to participate. 2. Regulations: after a wide range of legal verification and continuous focus on the development and legal structure of digital currency, the team believes that caution regarding the sale of tokens is advisable. Therefore, with the advent 22

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