DevvE is The liquidity solution for RWA & crypto trading
On DevvExchange, the DevvE token is used within every trade (except gaming & metaverse trading). With this solution, you can trade everything for everything.
What is DevvE?
DevvE is a core component of the Devv Ecosystem, designed primarily as a liquidity mechanism for transactions on DevvExchange, the exchangee where diverse assets—including cryptocurrencies like Bitcoin, fiat currencies like euros, carbon credits, bonds, stocks and even physical assets such as real estate and other real world assets—can be seamlessly traded.
In this capacity, DevvE functions as a universal intermediary token, or “The Money of Money,” facilitating fluid and efficient exchange between otherwise incompatible asset types.
By acting as this essential bridge token, DevvE enhances liquidity across markets, simplifies transactions, and reduces friction typically associated with complex asset exchanges.
While the foundational concept and strategic roles of DevvE are clear, detailed technical specifics, tokenomics, and broader operational insights have yet to be fully disclosed by the DevvE team. Additional updates and clarifications are anticipated as the project progresses.
This is where DevvE stands out.
Universal Liquidity Token
DevvE acts as the essential liquidity mechanism for DevvExchange, providing seamless conversion and efficient transactions between diverse asset classes, from cryptocurrencies and fiat currencies to carbon credits and tangible assets. By serving as “The Money of Money,” DevvE streamlines transactions that would otherwise be complex or impossible.
Enhanced Market Liquidity
As the central liquidity provider, DevvE significantly improves overall market liquidity, reducing transaction friction and enabling instant settlements across all asset categories. This ensures trades are conducted rapidly and efficiently, increasing market confidence and stability.
FAQ
DevvE’s business model overall includes oversight by the Forevver Association to utilize and issue DevvE towards creating value in the overall ecosystem that DevvE supports. Forevver will use DevvE issuances to create value for DevvE, its ecosystem, and its stakeholders. The total available supply in this type of model is not the most important measure of the token and how it is managed. What is more important, is market cap (circulating supply times price) and how new issuances of DevvE are used by Forevver to create value for the ecosystem. That is how Forevver should be judged.
It is expected that the majority of tokens in Phase 2 will be unowned tokens (i.e. there is no owner, who can sell them for profit, and therefore they are not part of the circulating supply) primarily used for creating liquidity underlying DevvExchange.
In Phase 1, while DevvE is implemented as an ERC-20 token, there is a hard cap of 300 million tokens max supply. This puts DevvE into a framework that is more familiar to the current crypto space. Only approximately 100 million tokens are scheduled to be issued by Forevver over the first year. Beyond that, issuances will be made in a way that creates value for all stakeholders.
Phase 2 is intended to happen at some point in the future when Phase 1 has demonstrated the effectiveness of the model, where additional token issuances can reliably be made to grow the ecosystem, and at that time a much fuller definition of rules around issuances will be made available. Phase 2 also requires a bridge from Ethereum to DevvX for DevvE (though a bridge from Ethereum to DevvX could happen before Phase 2 – i.e. the bridge is required for Phase 2, but Phase 2 is not required for the bridge).
Phase 2 may never actually be used. If Phase 1 allows for the needed issuances to effectively grow the DevvE ecosystem, then it will not be implemented. Similarly, issuance may instead be defined to be drawn out over a very long time period, of many decades. By the time Phase 2 could become feasible, it will have constraints implemented to make sure issuances continue to grow the DevvE ecosystem.
DevvE has its own business model and ecosystem, that the Forevver Association is building. ERC-20 tokens have the advantage of an existing ecosystem. It is easier to list an ERC-20 token with crypto exchanges, for example. That said, much of the reasoning behind DevvE being implemented as an ERC-20 comes from legal considerations. Forevver wants to have its i’s dotted and t’s crossed before future expansions that use the DevvX capabilities. Forevver wants to be careful that regulatory bodies do not raise concerns about DevvE being managed on a blockchain controlled by a US company. Forevver is taking a top down approach in everything it is doing, and as the utility is expanded, it will make sure that DevvE’s use on DevvX follows all laws.
DevvE is the one and only platform token for the DevvX blockchain.
DevvE is the world’s token for creating, owning, and transferring value.
DevvE will be an exchange mechanism for exchanging assets, a payment mechanism for buying and selling assets, and a verification mechanism for creating assets.
Devvio (which makes the DevvX blockchain) is not going to make another coin. That said, DevvE is unlike most coins in that it has its own design and ecosystem plans, and business model. For reference, Ripple and XRP is a similar example – XRP is designed for use in global banking, but you can use their mainnet without using XRP.
A primary area of utility for DevvE, that has a lot of potential, is in its use on DevvExchange – a non-custodial, regulatory compliant, high speed exchange. The idea of DevvExchange is that it will take the best of CEXs and DEXs and combine them into a much needed solution in the space that is fast, compliant, but also non-custodial. For the DevvExchange, DevvE will be used to pay for fees, but will also be an intermediary token used for liquidity across other digital assets like cryptocurrencies, stablecoins and Real World Assets (RWAs). In this way, it will be the “money of money”.
In the mid 2000s, Devvio’s founder, Tom Anderson, created a site with a digital currency, before blockchain was a term, so it’s a category Devvio’s management has been involved with for many years. Tom followed Bitcoin since 2011. He then looked at building a business in the blockchain space in late 2015, and read the Bitcoin Whitepaper. He loved the concepts it described, such as the need for any two parties to independently transact without using a central authority, and the idea of an immutable public record of all transactions that anyone can audit. While he appreciated the concepts the Bitcoin whitepaper described, he felt there was no technological solution that solved the problems one needs to solve in order to build a traditional scalable business – there were huge problems in scalability, privacy, fraud/theft/loss, stability, and perhaps most importantly cost and ease of integration. He designed a blockchain algorithm that he felt could solve these problems, and submitted multiple patents on those inventions. He then approached Ray Quintana, a very experienced and successful Venture Capitalist. Ray ended up leaving his lucrative career as a VC because, in his words, “It was the best opportunity he saw in his 20+ years in frontline tech”. Ray became Tom’s business partner and helped to grow Devvio. They brought in Bill Anderson, Devvio’s CTO, Nick Williams, Devvio’s Chief Architect and Shawn McKenney, Devvio’s VP Infrastructure, and created the first implementation of DevvX, including our sharding solution (a parallelization strategy). Tom felt the sharding approach would work, but Nick and Shawn implemented a working version that internally proved that Devvio’s approach could scale infinitely, really. From that point they switched from software research to software development. DevvX’s approach represents the fastest blockchain technology in the world. Here are DevvX characteristics:
- – 8 Million cross-shard TPS
- – 1/3 Billionth the energy and CO2 of Bitcoin. 3rd party ISO certified
- – 1/10 Millionth the cost of Ethereum
- – Intra-shard transactions (where most transactions occur) have sub-second finality.
- – Simple RESTful API Integration
At that point Tom took a previous game he had developed called LitCraft, and ported to a modern engine and started using it as a testbed for the blockchain. Games are a great category for testing throughput and speed, and it was also a great testbed for the DevvX API.
In 2019 Devvio began working on ESG applications. Devvio spun out much of its ESG work into DevvStream, a public company on the Neo stock exchange, that is currently in the process of merging with a SPAC to go public on the NASDAQ. DevvStream is managing their data on the DevvX blockchain.
In 2021, the LitCraft game (now called LitCraft Nysperience) was expanded and established as a full commercial product rather than just a testbed. On the blockchain side of things, what is particularly important is the LitCraft Digital Financial Ecosystem (DFE). The DFE is intended to create a deep interconnected ecosystem of digital assets that can be earned, traded, and sold. It includes LitCraft Nysperience with dozens of games, Lit Legion, which is a community based project where people can do real world tasks to earn digital assets, and Lit Land a 3D metaverse application. The token for LitCraft is called Fias (it formerly was called Quint) and the Fias whitepaper is coming out soon as well, and will be managed by the Forevver Assocation. In 2023 LitCraft was listed by CoinTelegraph as the overall #2 blockchain game among thousands of games!
In 2023, the Forevver Association was created to address the challenges of managing a token as a US entity. Because Devvio is based in the US, and given the current regulatory environment in the US, Devvio felt that it would be difficult to launch the token as originally planned. Ray started the Forevver Association, a Swiss non-profit, and Devvio and Forevver signed an agreement providing that Forevver would manage both the DevvE and Fias tokens. On February 7th, 2024, Forevver launched the DevvE TGE.
Although the token has only been out for a little over two weeks (at the time of this writing), Forevver has had a number of announcements. It is clear there has been an enormous amount of hard work going into what Forevver is growing. Forevver announced three exchanges, an approval for a French ICO Visa program, and a relationship with a large crypto brokerage.
Overall DevvX and DevvE represent a long term vision of what Devvio sees blockchain doing for the world. We envision blockchain technology as ultimately benefitting all of society, creating trust for the world, helping to manage our environmental challenges, creating transparency for governments and how they operate, removing unneeded middlemen, letting people control their value creation, and giving people resource to fulfill their potential. It is what we hope to have as a legacy for all of the work that has gone into our blockchain technology over the past 8 years.
What sets the DevvX blockchain apart from other blockchain approaches?
Although DevvX’s approach has characteristics that surpass other blockchain technical characteristics (8 million TPS, 1/10,000,000th the cost of Ethereum, 1/3,000,000,000th the energy usage of Bitcoin), the primary difference between DevvX and other blockchain approaches comes primarily from the DevvX sharding solution, and what it means even beyond throughput.
With DevvX, each application gets its own blockchain/shard. Each blockchain/shard can be customized as needed, from governance, to regulatory requirements, to optimizations and implementations. A DevvX Shard’s blockchain can be made transparent or auditable (or not, as the application needs). The design was based on the original Bitcoin whitepaper philosophy of building a system where any two people can independently audit a transaction without trusting a central authority and anyone can audit the entire chain. To the extent a specific application needs that type of public transparency, a DevvX shard can be implemented in order to solve that problem. We’ve developed a way for third parties to keep an entire copy of the chain by running verification nodes. The chain itself is mathematically immutable across a single copy of the chain, and if the entire chain is public, transparent, and replicated, then the entire record of transactions is also immutable, and you have what is needed to accomplish Bitcoin’s original goals.
Shards can be tailored to traditional business needs. A DevvX shard can be customized to a particular company’s IT reqirements, for example, which is something other blockchains cannot do. Shards can be customized to legal requirements as well. A particular application could utilize 1000 shards in a 1000 different regulatory environments, each customized to a particular legal jurisdiction’s regulatory requirements.
Another equally important aspect of the overall DevvX design, is that interactions with DevvX are implemented with a RESTful API. There are 200,000 Solidity developers across the world, for example, that can develop applications on the Ethereum blockchain. There are 25 million web developers that already know how to develop web3 applications on the DevvX blockchain.
Devvio’s flagship applications were, in fact, created by traditional web2 teams that didn’t have web 3 experience. The DevvX wallet app and the GlassBlock marketplace were both created and managed by a traditional web 2 lead (who created the Amazon kindle global marketplace) who had never created a blockchain application before, and all of his staff were traditional web2 developers who also had never created a web3 blockchain application before. It shows the power of our approach, since developers can work within a domain they are already experienced in and used to. This also creates a user experience that is like traditional web2 applications everyone is used to. This is one of the most important aspects of blockchain growth – easy to use and familiar user interfaces.
What we have found is that the architectural flexibility is equally important to DevvX’s throughput. At this point, we can spin up a shard almost as simply as the push of a button, and easily integrate it with any traditional platform using the RESTful API. One can quickly and easily have a system that is working for any practical application now.
The ability to customize shards to any application, guarantee throughput needed, be cost effective, and implement solutions with traditional developers with an easy to use RESTful API, are all characteristics needed to implement blockchain with large enterprises and traditional businesses. I believe that as blockchain matures, the biggest areas of growth for the entire blockchain space will be in the traditional business world, so we envision DevvX is positioned to become one of the most significant blockchain platforms for the future.
Can you prove DevvX’s 8 million TPS throughput?
Here is an early video in which we benchmarked our early designs for cross-shard transactions.
The way DevvX is implemented, each application has its own shard(s). It should be intuitive that if each shard is run by different validators, then you can create as many shards as needed, and in doing so, increase throughput as much is as ever needed – With one exception – What happens if you need a transaction to move from one shard to another shard? One of Devvio’s main inventions is our cross-shard mechanism.
That is the heart of our invention, that makes DevvX such a powerful technology. Each application shard is called a T2 network, and there is a single shard that runs Proof of Validation consensus and manages transactions that move from one shard to another, called the T1 network. The T1 network is NOT a master record, and T2 shards are NOT sidechains. The T1 network is simply utilized for cross-shard transactions. We benchmarked the T1 network, and showed it could process 8 million transactions per second. Those represent cross-shard transactions. Most transactions in real-world applications will simply run on a single shard, so if there is the capability to run 8 million cross-shard transactions per second, then the overall operation of the blockchain can run much faster than that – tens of millions or hundreds of millions of TPS, or more. We can add other T0 shards to manage cross shard T1 transactions as well. Overall, the architecture can process nearly infinite numbers of transactions per second, so long as there are computers to run the network.
The algorithm is elegant in its simplicity, and again, should be intuitive that it is an effective way to scale, so long as the cross-shard mechanism works. Boiling the problem down into a scaling philosophy as we have, and then providing an effective way to manage cross-shard transactions should satisfy anyone who is technologically sophisticated and can understand algorithms. The algorithm is described in the DevvE whitepaper at devve.io.
I found in the early years that it was a fools errand continually trying to go deeper and deeper into the rabbit hole of proving TPS. Millions of TPS implies a system orders of magnitude bigger than Visa, and that type of system is very expensive to operate. We found that we would have needed hundreds of thousands of dollars just to do a test on a system that was only up for a portion of a day, and then people would still question it at the point the test is over. Fundamentally, we proved it internally, and from that point on we developed the business focusing on production rather than research. Right now, we know that we can use our architecture to scale as big as ever needed, and we are focusing on building real-world applications and deployment now.
