IPv4 Token

0x3d2eb1fd115f0c2593e5013795af8d9968398bca etherscan.io ipv4token.eth

IPv4 Token is a blockchain solution engineered by the LIR community to streamline the ownership, transfer, and management of IPv4 prefixes. The framework is designed to align with the interests of IP address management participants while ensuring compliance with RIR.

White Paper

Abstract

This white paper introduces a groundbreaking concept of tokenizing IP addresses on the Ethereum network. Our project aims to provide a decentralized solution for managing and exchanging IPv4 addresses, ensuring an efficient and transparent mechanism for accessing and using IPv4 resources. Through this tokenization process, we offer a transparent and efficient method for individuals and organizations to access and manage IPv4 resources.

Introduction

The IP address market faces several problems: scarcity, high cost, and complexity of IP address allocation and management. The current system of IP address distribution is centralized and controlled by regional Internet registries (RIRs), which assign IP address blocks (prefixes) to local Internet registries (LIRs), who then distribute them to end users. There is a continuous need for efficient management of IP addresses, especially with new technologies such as the Internet of Things (IoT), cloud computing, and 5G. However, the supply of IP addresses is limited, particularly for the IPv4 protocol, which has already exhausted its address space. The transition to the IPv6 protocol, which has a much larger address space, is slow and costly and requires compatibility and interoperability with the existing IP infrastructure.

IPv4 Tokens aim to solve these problems by creating a decentralized IP address allocation and management system based on the Ethereum blockchain. IPv4 Tokens are utility tokens designed to provide access to platform services for managing IPv4 addresses efficiently. An agreement between the operator of IPv4 Tokens and the LIR regulates the number of IPv4 Tokens in circulation.

IPv4 Token has the following features and functions:

• A standard ERC-20 token that can be stored and transferred on any Ethereum-compatible wallet or platform.
• It is a utility token that provides access to a decentralized platform for managing IP addresses. The primary function of the token is to facilitate interactions within the platform, enabling users to manage their IP address allocations and related services.

Technical description of the project

The project is based on the Ethereum blockchain, which provides a decentralized and trustless platform for smart contracts and tokenization.

The IPv4 Token is a standard ERC-20 token, which follows the common rules and interfaces for Ethereum tokens. ETH smart contract address:

0x3d2eb1fd115f0c2593e5013795af8d9968398bca etherscan.io ipv4token.eth

The IPv4 Token is mintable by the issuer, corresponding to the number of IPv4 addresses available for tokenization. The IPv4 Token has six decimals, meaning the smallest unit of the token is 0.000001. The maximum supply of IPv4 Tokens is equal to the IPv4 addresses available for distribution, excluding special reserved IPv4 addresses, which is 3,702,258,176.

An agreement between the operator of IPv4 Tokens and the LIR regulates the circulation and redemption of IPv4 Tokens. The issuer of IPv4 Tokens is a smart contract that bridges the Ethereum blockchain and the IP address market. The issuer of IPv4 Tokens has the sole authority to issue IPv4 Tokens. The operator has the authority to redeem IPv4 Tokens and verify the status of LIRs and KYC. The operator of IPv4 Tokens is also responsible for maintaining the peg between the IPv4 Token and the IPv4 address and ensuring the project's security and reliability.

The redemption of IPv4 Tokens for IP addresses is a process that allows the holder with LIR status to exchange their IPv4 Tokens for the right to administer an IP address block (prefix) of the corresponding size. Redemption of IPv4 Tokens is intended solely for accessing IP address management services and does not confer any financial benefits. Redemption may occur within two years, subject to platform conditions and resource availability, and does not provide any financial benefits or returns. If there is space in the queue and the necessary resources, the redemption may be made earlier. The redemption of IPv4 Tokens can only be done in blocks (prefixes) multiples of 256 addresses, which means that the holder must redeem at least 256 IPv4 Tokens at a time. To redeem IPv4 Tokens, the holder of IPv4 Tokens must undergo KYC following the requirements of the RIR.

KYC is a process that verifies the identity and eligibility of the LIR, as well as the source and destination of the IPv4 Tokens and IP addresses. KYC is done by the partner LIR (or RIR), using a third-party service provider that complies with the standards and regulations of the RIR. KYC is mandatory for all transactions involving the redemption, issuance, and transfer of IPv6 Tokens and IP address blocks (prefixes) in compliance with AML regulations. KYC is done to prevent fraud, abuse, and money laundering, as well as to ensure the compliance and accountability of the project.

Utility

IPv4 Tokens are used by participants who require efficient and transparent access to IP address management services. The token is designed for participants who require efficient and transparent access to IP address management services.

The supply of IPv4 Tokens is regulated by the operator of IPv4 Tokens and the LIR, who agree on the distribution and redemption of IPv4 Tokens. The supply of IPv4 Tokens is also influenced by the availability and eligibility of the IPv4 address blocks (prefixes) and the redemption of IPv4 Tokens. The supply of IPv4 Tokens is regulated based on the operational capacity of the platform, ensuring system security, reliability, and compliance with applicable regulations.

The availability of IPv4 Tokens on the platform is determined by operational requirements. The token’s sole purpose is to provide access to platform services, and it is not designed to function as an investment vehicle or a means to derive financial gain under any circumstances. The availability of IPv4 Tokens within the platform is dynamic and depends on user requirements for the services offered, as well as operational considerations. The number of IPv4 Tokens may fluctuate based on user activity and operational needs.

Risks

The main risks and challenges that the project faces are:

• Technical risks, such as hacking, malfunctioning, or system downtime, could compromise the project's security and reliability.
• Legal risks, such as regulation, litigation, or arbitration of the project, could affect the compliance and accountability of the project.
• Market risks, such as competition, volatility, or manipulation, could affect the project's price and value.
• Operational risks, such as competition or misuse, could affect the project’s performance and reputation.

The project plans to mitigate and overcome these risks and challenges by:

• Implementing various measures to ensure the security and reliability of the system, such as encryption, authentication, authorization, and audit.
• Comply with the standards and regulations of the RIR, AML, and KYC, as well as the terms and conditions of the agreements.
• Hiring and training qualified and experienced staff and establishing and maintaining good relationships with the project's stakeholders.

Goals

The short-term and long-term goals:

 ✔ Development and deployment of smart contracts for tokenization.

 ✔ Onboarding of initial users and issuance of IPv4 Tokens and IPv6 Tokens.

• Expansion of tokenization platform (PA, PI, legacy IP addresses [ERC-721]) and integration with IP address registries.
• Scaling operations and enhancing governance mechanisms for database management. Enables IPv4 Token holders to utilize tokens in their internet projects, subject to KYC procedures, and publish their details in publicly accessible RIR databases.
• Integration with token staking [ERC-721] grants IPv4 Token holders access to certain platform management features for IP addresses. This staking is solely for the purpose of enabling access to operational features of the platform and does not provide any financial rewards, returns, or appreciation in token value.
• Integration with escrow operations [ERC-721] for transferring IP addresses.

Legal disclaimer

The information provided in this white paper is for informational purposes only and does not constitute legal, financial, or investment advice. The IPv4 Token project involves complex technical and legal aspects. Participants are advised to seek independent legal and financial advice before engaging in any activities related to the project. The regulatory environment surrounding cryptocurrencies, tokenization, and IP address management may vary by jurisdiction. Participants are responsible for understanding and complying with relevant laws and regulations in their respective locations. The IPv4 Token project is strictly a utility token offering and does not constitute an investment opportunity. The IPv4 Token is not designed to function as an investment vehicle, and no potential financial returns are guaranteed. The token’s sole purpose is to provide access to platform services related to the management and leasing of IP addresses. Participants should not expect any profits or financial returns. The project is designed to facilitate access to services within the platform, and participation involves inherent risks such as technical challenges and potential regulatory changes.

Participants are responsible for ensuring the security and safekeeping of their private keys and blockchain wallets. The IPv4 Token project (and operator) assumes no responsibility for any loss arising from user negligence or security breaches related to the handling of blockchain assets.

The IPv4 Token project actively monitors and adapts to evolving regulatory frameworks to ensure full compliance with all applicable legal requirements.

Glossary

Issuer — a smart contract:

0x3d2eb1fd115f0c2593e5013795af8d9968398bca etherscan.io ipv4token.eth

Holder — an entity (legal or individual) that controls the private key for the Ethereum address which the IPv4 Tokens were allocated.

Operator — the software facilitating transactions between the Holder and the LIR.

LIR, RIR, and other IP address-related terms — https://www.ripe.net/membership/internet-governance/internet-technical-community/the-rir-system/, https://www.ripe.net/about-us/press-centre/understanding-ip-addressing/, https://www.ripe.net/publications/docs/.