PANDA MINING

Multi-pool asset intelligent management platform

PANDA MINING • 2022

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CONTENTS

Chapter I Birth Background Overview of the Project ........................................................ 5

1.1 Blockchain Background...................................................................................................5

1.2 Blockchain development trend......................................................................................7

1.3 USDT,TRX...............................................................................................................................8

1.4 PANDA mining...................................................................................................................9

Chapter II: About PANDA Company...................................................................................... 10

2.1 PANDA Company Profile ........................................................................................10

2.2 PANDA Certificate and License ...........................................................................11

2.3 PANDA Advange and Profit ................................................................................... 13

Chapter III: PANDA scenarios for application....................................................................... 16

3.1 PANDA income aggregation...................................................................................... 16

3.2 PANDA Yield treasure ................................................................................................. 17

3.3 NFT mortgage lending.................................................................................................... 18

3.4 PANDA Smart Account and One- Click Borrowing.............................................. 19

3.5 PANDA Token exchange............................................................................................... 20

Chapter IV: Technical Scheme...................................................................................................... 21

4.1 Design Principles................................................................................................................21

4.2 PANDA architecture.........................................................................................................21

4.3 PANDA technology.......................................................................................................... 23

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Chapter V The PANDA Token Release....................................................................................33

5.1 Token explain ..................................................................................................................... 33

5.2 Token Publishing & Assignment................................................................................. 33

5.3 Regulatory mechanism................................................................................................... 34

Chapter VI: Team and Development....................................................................................... 35

6.1 Foundation organization structure............................................................................. 35

6.2 Core team member......................................................................................................... 36

6.3 Future plan ........................................................................................................................ 40

Chapter VII Disclaimer................................................................................................................... 40

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Chapter I Birth Background Overview of the Project

1.1 Blockchain Profile

1、 The type of blockchain

Blockchain is to use block chain data structure to verify and store data, use
distributed node consensus algorithm to generate and update data, use
cryptography technology to ensure the security of data transmission and
access control, and use the intelligence composed of automated script
code. A new distributed infrastructure and computing paradigm that uses
contracts to program and manipulate data. At present, the blockchain is
called by many large institutions as a major breakthrough technology that
completely changes the business and even the operation mode of the
institution. In the fields of finance, Internet of Things, philanthropy, health
care, agriculture, supply chain and other fields, more and more enterprises
and institutions have begun to explore the application prospects of
blockchain in the industry, and plan a data circulation roadmap based on
blockchain technology.

According to different application scenarios and designs, blockchains are

mainly divided into public chains, alliance chains and private chains:

Public chain: represented by Bitcoin, Ethereum and all digital currencies,

each node can freely enter or exit the blockchain network;

Consortium chain: Each node usually represents an entity organization

or individual, and usually needs to be authorized to join or exit the network.
Since there are usually related interests among the various institutions, it
requires the participation and maintenance of all parties;

Private chain: The access and exit permissions of each node are
controlled internally, usually for internal data management and auditing in
a specific organization.

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2、 The characteristics of blockchain

The existing blockchain technology mainly includes the following four

characteristics:

Decentralization: No third-party intervention is required to achieve

peer-to-peer transactions, coordination and collaboration. In the blockchain
system, no institution or individual can control the global data, and the
stoppage of any node will not affect the overall operation of the system. This
decentralized network will greatly improve data security.

Immutable: The blockchain uses encryption technology to verify and store

data, and uses distributed consensus algorithms to add and update data. The
blockchain requires each node to participate in verifying transactions and
producing blocks; modifying any data requires changing all subsequent It is
extremely difficult to record and modify the data of a single node.

Open, transparent and traceable: The written block content will be backed up
to each node, each node has the latest copy of the complete database and all
record information is public, and anyone can query it through the public
interface block data. Each transaction in the blockchain is solidified into the
block data through chain storage, and at the same time, all transaction records
of all blocks are processed by superimposed HASH digest processing through a
cryptographic algorithm, so it can be traced back to any transaction history.

Collective maintainability: The decentralized characteristics of the

blockchain determine its collective maintainability. Traditional centralized
institutions usually have three roles: data storage, data manager and data
analyst, while the blockchain is jointly maintained by all participants in a
peer-to-peer manner. Transfer rights and achieve joint cooperation.

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1.2 Blockchain development trend

Blockchain will have a huge impact on the existing economy and society, and is
expected to reshape the form of human Internet activities. The recent
development trends of blockchain mainly include the following aspects:

First application model upgrade: In view of the balance between the security
of the public chain and the increasing transaction volume on the capacity of
the existing network, the application fields of the blockchain in the future will
be dominated by alliance chains, private chains or hybrid chains. The Bitcoin
model increases the maintenance cost of the blockchain network and is not
fully applicable for low-value, low-risk transactions. Taking into account the
improvement of efficiency and security, the future will be composed of
consortium chains, private chains, or a hybrid chain composed of consortium
chains and private chains.

Second multi-centralization: The future blockchain system architecture will

be to build a trustworthy multi-center system, and upgrade the decentralized
and independent individual centers to a unified multi-center with multi-party
participation, thereby improving the efficiency of trust transfer and reducing
transaction costs. . That is, in an environment of information asymmetry and
uncertainty, to establish a "trust" ecosystem that satisfies the occurrence and
development of various activities.

The third is to drive breakthroughs in other industries from financial

innovation: the application field of blockchain will first start from the fields that
require mutual trust between transaction parties, but it is not easy to establish
trust relationships, such as finance, securities, insurance, etc. field. With the
popularization of applications and the improvement of social awareness,
blockchain will gradually penetrate into all fields of society. For example,
blockchain has been initially used in political elections, corporate shareholder
voting, gambling, prediction markets and other fields.

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 The fifth asset digitization: In addition to transforming tangible assets in
society into digital smart assets for right confirmation, authorization and
real-time monitoring, blockchain can also be applied to intangible asset
management in society, such as intellectual property protection, domain name
management, Points management and other fields.

1.3USDT,TRX

(USDT) is a token Tether USD (hereinafter referred to as USDT) based on the

stable value currency U.S. dollar (USD) launched by Tether. 1USDT=1 USD, and
users can use USDT to exchange 1:1 with USD at any time. Tether strictly abides
by the 1:1 reserve guarantee, that is, for every USDT token issued, its bank
account will have 1 USD of funds guaranteed. Users can conduct fund inquiries
on the Tether platform to ensure transparency.

(TRX) is the TRON coin. TRX coin is the official token that drives the TRON
network. TRON will serve as a universal credit platform for the global
entertainment network, marking users’ entertainment behavior through TRX,
and finally sharing the credit data with the entire TRON network. web
applications.

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1.4 P A N D A m i n i n g

PANDA's goal is to build a fair decentralized financial system that provides

stablecoin lending and governance mechanisms for all users around the world.
PANDA is a dual token system.

PANDA mining Invest in TRX and USDT to participate in DeFi lossless mining,
0 risk,The new blockchain data management and calculation model for stable
income improves the DeFi ecosystem. Through the total value produced by
each user node, liquidity node mining does not have any pre-mining and
incremental behavior of reservation and pre-mining, all ETH users provide chain
liquidity, all of which will be passed through smart contract nodes Perform
automatic lock-in of income. At present, you can participate in the mining of
the new generation of nodes according to the TRX and USDT you hold. At the
end of the total revenue earned through streaming node mining,The system
divides TRX and USDT tokens to wallet addresses specified by each user.

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Chapter 2: About PANDA Company

2.1 PANDA Company Profile

The core members of PANDA company come from top Internet and financial
companies. The platform has a professional financial-grade transaction
structure and a self-developed high-concurrency memory matching transaction
engine, which is non-destructive DeFi financial management, zero risk, and high
-yield annualized rate, welcome global investors to join!

U S. company name and address:

Name: PANDA-MINER CO., LTD.

Address:244 Madison Avenue, Suite 1095 NEW YORK, NY 10016, United

States

Entity Type: DOMESTIC BUSINESS CORPORATION

Entity Status: EXISTING

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2.2 PA N D A Ce r t i f i c a t e an d Li c e n s e

Certificate
US company certificate

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 MSB

The MSB (MoneyServiceBusiness) license is a financial license supervised and

issued by the U.S. Treasury Department. It primarily regulates businesses and
companies related to money services, including digital currencies, virtual
currency exchanges, and international payment companies. Companies
engaged in the above-mentioned related businesses in the United States must
apply for an MSB license to operate legally.

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2.3 PANDA Advantage and Profit

Advantage

Panda adopts the latest web3.0 intelligent mining core

Most individual miners do not have the resources to build large mining
facilities with thousands of GPUs and ASICs. Mining pools allow miners to
combine their computing resources to increase their chances of mining a block.
If anyone in the pool successfully mines a block, the reward will be distributed
to everyone in the pool in proportion to the computing power they contributed
to the pool

ASIC is in the hands of a few mining machine companies with design

capabilities.

The mysterious bitcoin mining machine imagined by many people earlier

may be a very large computing device, just like a factory assembly line machine,
the bigger the more productive. Actually not, a professional Bitcoin mining
machine is a standard computer in principle. Compared with a personal
computer, it has no keyboard, no monitor and other equipment. Except for
some necessary configurations such as computing, network, and memory, the
rest are simplified. Dropped, because it can not only improve operating
efficiency, but also reduce power consumption, heat generation, and cost.

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 This has caused many people to worry that the computing power is in the
hands of a few nodes, which greatly reduces the degree of decentralization and
contains risks. This is also a topic of frequent debate in some autonomous
communities. Some coins reject the participation of ASIC or even GPU by
adjusting the algorithm, just to ensure the decentralization of nodes.

The mysterious bitcoin mining machine imagined by many people earlier

may be a very large computing device, just like a factory assembly line machine,
the bigger the more productive. Actually not, a professional Bitcoin mining
machine is a standard computer in principle. Compared with a personal
computer, it has no keyboard, no monitor and other equipment. Except for
some necessary configurations such as computing, network, and memory, the
rest are simplified. Dropped, because it can not only improve operating
efficiency, but also reduce power consumption, heat generation, and cost.

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 Profit

product quantity(one) time(day Daily rate

USDT 100 ~ 99999999 7 1%

USDT 100 ~ 99999999 15 1.5%
USDT 100 ~ 99999999 30 2%
USDT 100 ~ 99999999 60 3%

USDT 100 ~ 99999999 90 4%

USDT 100 ~ 99999999 180 5%

TRX 100 ~ 99999999 7 1%

TRX 100 ~ 99999999 15 1.5%

TRX 100 ~ 99999999 30 2%

TRX 100 ~ 99999999 60 3%

TRX 100 ~ 99999999 90 4%

TRX 100 ~ 99999999 180 5%

The time of investment income is 11:00 am US time the next day

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Chapter 3: PANDA scenarios for application

The PANDA system has Turing completeness, and the central database opens
all data through API interface. PANDA system will be built to accommodate all
exchanges, exchange platforms, and applications. It contains digital assets,
mainstream virtual currency trading platform, electronic exchange platform
sweep payment, global mall, etc. It is a block ecological platform that takes
landing new energy application solutions as the core and realizes the landing of
other offline physical industry applications and online circulation transactions by
extending new energy industry.

3.1 PANDA income aggregation

The revenue aggregation protocol independently developed by the PANDA team

dynamically adjusts the user's assets through the aggregation revenue strategy, helps
users realize fully automatic high-yield mining on the premise of ensuring the
security of funds, and solves the idle pain point of De Fi assets. Provide users with
automatic mining services that can be deposited and withdrawn at any time, so that
account assets are always in a stable growth state

(1) Lending and mining strategy

Comparing the security, yield and stability of various platforms through contract
evaluation, it is always the choice for users.

Choose the best platform to implement the mining strategy to help users obtain
higher returns.

Revenue logic: Monitor and compare key indicators such as security dynamics,
yields, and liquidity of each platform.

The state-controlled allocation scheme keeps users’ profits at a high level. In

addition, the strategy will also

All mining reward tokens are automatically converted into the principal
deposited by the user to realize automatic reinvestment in mining, the maximum

Maximize mining interest rates.

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3.2 PANDA Yield treasure

"Yield Treasure" is a wealth management product launched by PANDA by

depositing coins and earning coins. Users can deposit idle digital assets into PANDA
to obtain income. Yieldbao mainly uses a "high probability" winning trading strategy
to automatically make investment decisions to help users automatically profit. These
strategies are the use of mathematical models to perform trading behaviors that
cannot be repeated by humans through computers.

(1) Status of digital asset investment

24-hour trading market: The digital asset trading market is open 24 hours a day,
which is the most obvious difference between the stock market and the digital asset
trading market, and it is also the most troublesome difference for ordinary investors,
because the market can not rest, but people cannot stop. rest.

Completely independent investment strategy: The digital asset market requires a

completely independent investment strategy. And with the development of token
trading, the definition of its attributes has become more and more diversified, and
the market environment has become increasingly complex, resulting in a completely
different valuation method between digital currency and traditional companies. In
terms of price changes, the major difference between stocks and digital currencies is
that digital currency prices often fluctuate based on community sentiment, and
sentiment itself is a public attribute that is extremely difficult to control, so new
investment strategies have to be formulated. response.

(2) Quantitative strategy research and development process

Building a quantitative investment strategy with a high Sharpe ratio requires 6

steps:

1. Data

2. Universe Definition (Digital Asset Pool Definition)

3. Alpha Discovery

4. Alpha Combination

5. Portfolio Construction

6. Trading

The success of the strategy requires ensuring that each step of the process is
successful, as shown in the following diagram:

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3.3 NFT mortgage lending

In 2021, we saw massive growth and widespread expansion of blockchain, and

the NFT market also experienced its largest growth to date, with total liquidity even
exceeding $23 billion. After Facebook changed its name to META, NFT and Metaverse
have successfully become mainstream in the industry.

As we all know, the liquidity of NFT assets is the core pain point of the industry,
and the liquidity solution is the KA (Killer Application) of the entire industry. A mature
NFT asset solution needs to address both NFT asset pricing and settlement (clearing).
In the current PANDA system, through NFT mortgage lending, combined with the De
Fi income aggregation protocol, it helps any two users on the platform to interact
directly without a third party to complete the NFT and asset pricing, settlement, and
Through the combination with the De Fi protocol, it helps users to obtain the double
return of NFT loan interest and asset liquidity income on the PANDA platform.

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3.4 PANDA Smart Account and One-Click Borrowing

De Fi Smart Account (DSA), is an up grade able smart contract account. Users can
manage assets that exist in multiple lending agreements through a smart account.

(1) Create an account

When you use the PANDA lending zone agreement, you need to create a Defi
smart account first. Each account is unique, and the default manager is the creator's
wallet address. Users can create multiple Smart Accounts. Users can add/remove new
managers for smart accounts to suit more application scenarios.

(2) Asset management

We divide asset management into two parts: Account asset management: It

integrates recharge, withdrawal and exchange to ensure the smoothness and security
of the flow of funds between accounts. Protocol asset management: Integrate the
basic data of smart accounts in various protocols, output key data clearly, assist users
to quickly study and judge operational ideas, and manage multi-protocol assets in
one stop.

(3) Lending strategy

1. One-click deposit and loan: Complete the deposit and loan operations in one
transaction.

2. One-click return and withdrawal: complete the return and withdrawal

operations in one transaction.

3. Leverage strategy: When you judge that the price of your collateral will rise,
you can choose to buy more collateral by adding leverage to gain more income.

4. De-leveraging strategy: Quickly convert your collateral into debt assets and
repay debts through strategies to reduce the risk of account liquidation.

5. Replacing the collateral: Exchange the current collateral for other collateral to
obtain a higher mortgage rate or deposit income.

6. Debt replacement: Convert the current debt tokens to other debt tokens in
one transaction to obtain lower borrowing costs and higher mining returns.

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3.5 PANDA Token exchange

The transaction function can realize rapid exchange between assets, that is, after
users create a smart account, they only need to deposit one token to obtain other
tokens through the transaction function.

All transactions are done through mainstream DEX protocols. The platform does
not charge any transaction fees except that the DEX agreement itself needs to charge
transaction fees.

(1) Price influence

This difference between the current market price and the expected fill price is
called price impact. Since AMM calculates the current market price based on the ratio
of the two token reserves, this market price only shows the marginal token price that
AMM wants. In reality, however, traders typically buy and sell multiple tokens at once,
each costing more than the previous, creating a price impact.

(2) Slippage

The offset of the price in the trade pair between trade submission and execution,
this slippage setting is used in all trade/swap operations including strategies. For the
safety of our users, we do not allow more than 10% slippage.

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Chapter 4 Technical Scheme

4.1Design Principles

The technical design program is organized around four main design principles.

Minimalist design principle

Evolutionary stability principle

Compatibility principle

Modular design principle

4.2 PANDA architecture

As we mentioned earlier, blockchain technology is more like a technical

architecture that uses a combination of different technologies. In the general
blockchain technology architecture, it can be roughly divided into three levels:

Protocol layer: In this layer, it represents the core content of the blockchain.
That is, the underlying technology generally referred to in the market today. It
includes the structure of data storage, consensus algorithm, encryption mechanism,
network communication protocol and so on. All of these contents are wrapped to
this layer as operations, and upper-layer calls are provided in the form of APIs or
services.

Extension layer: The extension layer is similar to the V layer in the traditional
MVC architecture and handles part of the business logic. Smart contracts are built
on this layer. Therefore, at this layer, we can extend blockchain technology to
various scenarios through smart contracts, such as AI artificial intelligence, VR/AR,
IoT <IOT>, ERP/MES, big data <Bigdata>, cloud Platform <Cloud> can be
implemented here.

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 Application layer: The application layer is oriented to end users. For those
who have been exposed to virtual currency, various "electronic wallets" belong to
this layer. However, in practical applications, due to the limitations of blockchain
technology itself. The development of the application layer should not only meet
the needs of users, but also take into account the logic and technical requirements
of the extension layer and the protocol layer. This leads to a blockchain
development project that will require more complex teamwork.

From the above architecture, it can be found that the blockchain technology
may have different programming languages and independent computing
logic in each architecture layer. At the same time, it is necessary to cooperate with
the encryption algorithm requirements of the business itself, etc., which will form a
complex cooperation process. Behind it, a complete business logic is required to
meet the real needs of the market.

The PoW consensus mechanism represented by Bitcoin and Ethereum can well
ensure the security of the blockchain system in the decentralization scenario. The
51% computing power attack threshold makes the saboteur need to pay a huge
price. However, the energy consumption caused by the calculation in the PoW
mechanism is too large, especially for the public chain with huge ecological volume,
which seriously violates the concept of new energy and also increases the cost of
business operation.

Some new public chains propose to replace the PoW mechanism with the PoS
consensus mechanism, which essentially determines the mining difficulty based on
the coin value or coin-day value owned by the node. Shorten, improve
performance, reduce energy waste, such as the POS consensus mechanism for
betting on consensus results in the Ethereum Casper proposal.

The PANDA main chain is determined to adopt the latest DPoS

consensus mechanism, which is a more efficient solution derived from the PoS
mechanism. It adopts a voting mechanism similar to the congress, and periodically
elects N proxy bookkeeping nodes. Since the number of nodes participating in
the consensus formation is greatly reduced, the time for forming a consensus is
greatly shortened, the overall performance of the system is greatly improved,
and the computing energy that needs to be consumed is greatly reduced. The
mechanism of voting for proxy bookkeeping nodes also ensures that malicious
nodes will be replaced. In addition, the DPoS mechanism is more resistant to
the challenge of

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- consensus by large mining pools than the PoW and PoS mechanisms. The
DPoS consensus mechanism has been verified to be reliable and efficient after
a long period of operation on some public chains.

Using the DPoS mechanism, the single-chain performance of PANDA can

exceed 1000 TPS, and the overall performance can be continuously expanded
through side chain technology. At the same time, the low resource consumption
of DPoS also enables PANDA to charge extremely low gas for Token transfer
transactions between users, thereby lowering the user threshold and improving
business activity.

4.3 PANDA technology

PANDA main chain will adopt an innovative multi-dimensional chain structure

and use the latest technologies (such as pass-through chain technology, multiple
side chains, split chain, etc.) to obtain the highest possible performance
while guaranteeing consensus, in order to support the commercial application
needs of PANDA.

The PANDA main chain has completed the architectural design work,
which is determined to be written in C + + language and uses STL and
Boost as the underlying development library, supports Linux and Windows
platforms, and adopts SHA256 digest algorithm and ECC encryption algorithm.
The core data is stored and smart contracts are executed in a
decentralized way, and the trustworthiness of data and contract fulfillment is
guaranteed by the technology of blockchain synthesis.

1、 Through-chain technology (main chain - sub-chain - sub-chain)

Through chain technology definition

In order to cope with the performance challenges of the underlying blockchain

system due to the huge business volume of PANDA in the future, the PANDA
blockchain will adopt the cross-chain technology, that is, the side-chain
collaboration technology. It maintains the main chain as the carrier of basic data,
smart contracts and basic Token transactions, and distributes complex
application processing to each side chain, thereby improving the overall
performance of the system.

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 At the same time, PANDA will adopt an appropriate chain
coordination mechanism to effectively ensure the effective and reliable transfer
of consensus and value among the internal parallel chains and with other public
chains.

The independent blockchain completes the value production in highly relevant

business fields. To realize the large-scale circulation of socialized products and
value, a cross-chain transaction market is needed, and the cross-chain value
exchange market provided by the cross-chain can satisfy the freedom of value in
different subjects, etc. price circulation. Tongchain has compatibility and can be
compatible with various existing and future blockchains; Tongchain is open, and
Tongchain has the ability to allow any blockchain to join; Tongchain has the
potential for standardization, allowing any blockchain to join, An access standard
will gradually be formed, which will help promote the standardization of blockchain
protocols.

Business side chain

According to the needs of business functions, privacy protection, data isolation,

or performance capacity expansion, PANDA establishes multiple independent
chains to work in parallel, and the chains can interact through chain services,
such as sending transactions, querying transaction results, reading configuration
data, etc. The smart contract data interaction between different blockchains
enables interoperability between blockchains. and through the parent- The sub-
smart contracts meet different business needs and improve the flexibility of the
global "bloated" ledger.

Computational sidechains

In PANDA, the Computational Sidechain (CSC) has a DSC-like structure, also linked
by hashes, and also contains block headers, transaction sets, PANDA
network contracts, and data distribution. Transactions still use the Merkle tree
structure. The client sends a computational request to the network, and the
request propagates through the network.. When a task is completed, the working
node sends an acknowledgement to the Computational Sidechain (CSC) to update
the task status and receive a reward.

Solvers and verifiers in the Computational Sidechain (CSC) will load code and
data into the PANDA Virtual Machine (DVM) and execute the code in the PANDA
Virtual

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Machine (DVM), which includes parallel computing tasks and verification tasks. A
node that computes a sidechain (CSC) needs:

Check the format of the block;

Check the deduction, the deposit is valid;

Check whether the data and code related to the task are valid;

If necessary, verify the task results;

Aggregate transactions and send them back to the main chain;

Cross-chain operation mode: PANDA integrates the business-type

private chain/consortium chain into the consensus network of the main chain
through the cross-chain technology, while maintaining the privacy and
permission protection measures of the private chain/consortium chain.
According to the needs of business functions, privacy protection, data
isolation, or performance capacity expansion, multiple independent chains are
established to work in parallel, and the chains can interact through the chain
service. To connect other digital assets to PANDA, you first need to complete the
registration on PANDA, which can be connected to PANDA through independent
development or customized development to achieve interoperability.

In the PANDA blockchain network: the "main chain" constitutes the backbone
of information, and information is exchanged between different parent
chains through link-by-link protocols. At the same time, a main chain carries
different isomorphic sub-chains, and these sub-chains are distributed
ledger implementations of a vertical field or multiple clusters of different
industries. The communication between sub-chains is realized by the cross-chain
communication protocol. Through the sharding of the blockchain, the
transaction processing capability of the blockchain system is improved. Compared
with a single blockchain system, the chain cluster system can increase the
transaction processing capacity linearly by connecting multiple sub-chains.
Transaction requests enter different sub-chains through the allocation of chain
routes, which can effectively avoid centralized requests for one sub-chain. In
addition, we can deploy clusters with different numbers of nodes of
homogeneous sub-chains on the link route. For

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homogeneous chains, clusters with multiple nodes will have relatively high security,
and clusters with fewer nodes will have higher processing speed. quick. In addition,
according to different requirements such as the number of nodes, geographical
location, business classification, etc., different chain clusters are deployed, and
requests are distributed to suitable clusters for processing according to different
needs, which helps the chain network to deploy flexibly according to business
needs and provides users with higher quality. blockchain services.

2、 Distributed storage

News reports of data breaches over the past few years have shown us that
between 2005 and 2017, the frequency of such breaches increased by as much as
10 times. The process of distributed storage protecting data makes data leakage
more complex than the methods currently used in data centers. In the
PANDA platform, the concept of Decentralized Storage Network (DSN) is
introduced. Data network aggregated storage served by multiple independent
storage providers and self-coordinates to provide data storage and data retrieval
to clients. Based on blockchain technology, all data is sharded before being sent
to tenants of hard drive space (or users), each shard being sent to a separate
node. Even if someone had the key, it was already hard to find all the pieces. and
even if several shards disappear, archives can still be retrieved and new shards
redistributed. Storj tries to keep data safe even if many farming nodes are
compromised. Assuming that will happen sooner or later, developers are now
taking the system to heart. This also makes PANDA's download storage speed at
least 10 times faster than normal.

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 3. Consensus mechanism - POC

The modular design of PANDA supports the replacement and plugging of all
core functional modules including the consensus mechanism. The main chain
adopts the credit consensus mechanism POC (Proof-Of-Credit) by default.
Anyone can participate in the blockchain network, each device can act as a node,
and each node is allowed to obtain a complete copy of the database. Based
on a consensus mechanism, the nodes jointly maintain the entire blockchain
through competitive computing. If any node fails, the remaining nodes can still
work normally.

Consensus mechanism is a core issue of blockchain technology. It determines

the generation rules of blocks in the blockchain and ensures the honesty of each
node, the fault tolerance of the ledger and the robustness of the system. Based on
different application scenarios of blockchain technology and the characteristics of
various consensus mechanisms, evaluation and comparison can be made mainly
from the aspects of performance efficiency, resource consumption, fault tolerance,
and supervision level. The functional components of the consensus mechanism
have the following functions:

(a) Support multiple nodes to participate in consensus and confirmation;

(b) Support independent nodes to verify the validity of relevant information

submitted by the blockchain network;

(c) Prevent any independent consensus node from recording or modifying

information in the blockchain system without confirmation ;

(d) It should have a certain degree of fault tolerance, including non-malicious

errors caused by physical or network failures of nodes, malicious errors caused by
illegal control of nodes.

4. Smart contracts

PANDA creates a smart contract that combines a non-Turing complete main

chain and a Turing complete side chain. Smart contracts are assembly
language programmed on the blockchain. Usually people don't write bytecode
themselves, but compile it from a higher level language, such as Solidity, a
specialized language

27
like Javascript. These bytecodes do guide the functionality of the blockchain so that
code can easily interact with it, such as transferring cryptocurrency and recording
events. The execution of the code is automatic: either it executes successfully, or all
state changes are undone. This is important because it avoids situations where the
contract is partially executed (for example, in a security purchase transaction, the
security owner has transferred the security, but the cryptocurrency payment
transfer has failed). This is especially important in a blockchain environment, as
there is no way to undo the bad consequences of an execution error (and there is
simply no way to reverse a transaction if the adversary doesn't cooperate).

Blockchain-based smart contracts can not only take advantage of the low-cost
and high-efficiency advantages of smart contracts, but also avoid malicious
behaviors that interfere with the normal execution of contracts. Write the smart
contract into the blockchain in a coded form, and use the blockchain technology to
achieve traceable, transparent and non-tamperable data storage, reading and
execution processes. In addition, the state machine system constructed by the
consensus algorithm of the blockchain can make smart contracts run efficiently.

The functional components of a smart contract include:

A development runtime environment, including:

(1) Provide programming language support, and provide a supporting

integrated development environment if necessary;

(2) Support static and dynamic inspection of contract content;

(3) Provide operating carrier support, such as virtual machines;

(4) For smart contracts that interact with external data of the blockchain system,
the influence of external data sources should be limited to the scope of the smart
contract and should not affect the overall operation of the blockchain system.

B storage environment, including:

(1) Prevent tampering with the contract content;

(2) Support the upgrade of contract content under multi-party consensus;

(3) Support for writing contract content into the ledger.

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 5. Sandbox and Seccomp

A sandbox is an execution environment that restricts program behavior in

accordance with security policies. In the early days, it was mainly used to test
suspicious software. For example, in order to try a certain virus or unsafe product,
hackers can often run them in a sandbox environment. The implementation of the
classic sandbox system is generally by intercepting system calls, monitoring
program behavior, and then controlling and limiting the program's use of computer
resources, such as reading and writing disks, according to user-defined policies.

Seccomp (securecomputingmode) is a concise sandbox mechanism supported

by the Linux kernel (since version 2.6.23). It enables a process to enter a "safe"
operating mode, in which the process can only call four system calls (systemcalls),
namely read(), write(), exit() and sigreturn(), otherwise the process will be
terminated. Seccomp was designed by Andrea Arcangeli in 2005. [Problem with
statement] Its application is to solve security problems in gridcomputing, such as
you intend to rent out your CPU resources, but you are worried that untrusted code
will break your system.

Then, Seccomp can provide a "safe (SAFE, notSECURE)" operating environment

for "untrusted pure computing code" to protect the normal operation of your
system and applications from the interference of untrusted code. In the
PANDA system, the Dapp core code runs in a sandbox, and its capabilities are
limited to a certain range to ensure the security of the hosting nodes.

6. Transaction

The PANDA system has a built-in transaction abstraction layer, and almost
all functions of the core system are built on transactions, such as transfers,
voting, application stores, deposits and withdrawals, etc. Sidechains themselves
can also implement their own different types of transactions. The difference
between transactions is mainly the transaction type and the asset. The data
structure of the basic transaction is as follows, and the extension part will be
stored in different asset tables according to different types.

29
-In voting transactions, for example, a votes entity is ates to a underlying
transaction by transaction id.

7. Grading Nodes

In the PANDA network, each participating node can choose to become a

node of different levels according to its own resources and purposes. It can be a
node that stores the full amount of data, or it can be a light node that stores part
of the data. The node selects the node contribution to execute according to the
resources it owns and the main side chain it is in.

8. Quantum entanglement encryption technology

PANDA adopts quantum entanglement technology, which is a secure

encryption technology for transmitting information. It is related to the
transmission of information faster than the speed of light. The
"communication" between these particles is fast, using this connection to control
and transmit information at such a rapid rate.

At the same time, asymmetric encryption of public and private key pairs is also
used in the blockchain to build trust between nodes. The asymmetric encryption
algorithm consists of a corresponding pair of unique keys (that is, the public key
and the private key). Anyone who knows the user's public key can use the user's
public key to encrypt the information and achieve secure information interaction
with the user. Due to the dependency between the public key and the private key,
only the user who holds the private key can decrypt the information, and any

30
unauthorized user or even the sender of the information cannot decrypt the
information. The encryption function component has the following functions:

Support international mainstream encryption algorithms, such as symmetric

encryption algorithms such as AES256 and asymmetric encryption algorithms such
as RSA and ECC;

Support commercial secret algorithms, such as symmetric encryption

algorithms such as SM4 and SM7, and asymmetric encryption algorithms such as
SM2 and SM9;

There should be a clear key management scheme to ensure the normal

operation of the underlying security mechanism of the blockchain;

The encryption algorithm should have the ability to resist cracking, and the
security of the encryption algorithm should be reviewed regularly, and if necessary,
the encryption algorithm with higher computational complexity for cracking
should be adopted.

9. Asymmetric encryption

Elliptic Curve Cryptography (ECC) is a public key cryptography technique based

on elliptic curve theory that allows for faster, smaller and more efficient key
creation. ECC uses the properties of elliptic curve equations to generate keys, rather
than using the traditional method of using the product of large prime numbers to
generate keys. Elliptic Curve Cryptography ECC (EllipticCurveCryptography) is a
public key encryption technology, based on elliptic curve theory, using the discrete
logarithm intractability of the Abel group composed of elliptic curve points on a
finite field to achieve encryption, decryption and digital signature, Corresponding
the addition operation in the elliptic curve with the modular multiplication
operation in the discrete logarithm, the corresponding cryptosystem based on the
elliptic curve can be established. Elliptic curves are planar curves determined by the
following Weierstrass equation:

E:y2 +a1xy+a3y =x3 +a2x2 +a4x+a6

The elliptic curve encryption algorithm has a great potential for development
in smart terminal applications due to its small key length, high security
performance, and low time-consuming of the entire digital signature, such as

31
handheld computers, mobile phones, etc., which can have better performance . In
the network, the ECC algorithm also ensures the real-time performance of its
collaborative work. The use of the ECC algorithm to encrypt data with a high level
of sensitivity (such as keys) can meet the requirements of large data volumes in
terms of speed, and has high security. Ensure the security of the system well.

10. Virtual Machine (OEVM)

The virtual machine in the PANDA ecosystem is designed to run a

virtual machine on all participant nodes in the peer-to-peer network, which can
read and write executable code and data in a blockchain, verify data signatures,
and can perform half-Turing A complete way to run code. It only executes
code when it receives a message verified by the data signature, and the
information stored on the blockchain differentiates the appropriate action taken.

32
Chapter 5, The PANDA Token Release

5.1 Token explain

The underlying scheme of the new energy ecological chain PANDA is to

create a value token: PANDA, through the token to realize the internal circulation
and realize the complete operation of the ecology. The PANDA token is the only
exchange token in PANDA. It provides superior liquidity for the ecology through
consumption such as transaction, purchase and destruction, realizes the
tokenization incentive of PANDA data and prop assets, and creates a high-value
token for global users. PANDA new energy token.

PANDA Coin has activated Segregated Witness (SegWit) and implemented

the Lightning Network (Lightning PANDAtwork) function to better deal with
instant payments and cross-chain transactions. Using the Lyra2REv2 algorithm
for POW mining can effectively prevent ASIC-specific mining machines, so that
more people can participate in node operations, better decentralization, and
can effectively avoid 51% attacks.

5.2 Token release and distribution

◎ Name: PANDA Tokens (PANDA)

◎ Total issuance : 1 billion pieces

◎ Distribution plan:

5% : Founding team (5000W)

60% : transaction output (600 million)

25% : Ecological Fund (25000W)

5% : Market operation (5000W)

5% : DAO (5000W)

33
5.3 Regulatory mechanism

PANDA adopts the foundation structure, and all financial budgets

and expenditures are supervised and reviewed by the Finance and
Personnel Management Committee of the Foundation and issued public monthly
report.

34
- Chapter 6: Team and Development

6.1Foundation organization structure

As an independent non-profit entity, the New Energy Foundation of the

PANDA New Energy Ecological Chain is responsible to the community and
takes the promotion and development of the PANDA ecosystem as its primary
goal.

The Council, the decision-making body of the foundation, whose functions

include nominating and voting the executive director (secretary-general) and
the heads of various functional committees; making important decisions;
holding emergency meetings. The term of office of the members of the board
of directors and the chairman is two years, and the chairman cannot be
re-elected for more than two consecutive terms. The members of the first
foundation council are selected from the following three parts: core team,
partners and consultants with rich industry experience, community
representatives. The 20 community representative candidates weighted by the
number of coins held and the time of holding coins will be elected by the
candidates according to the principle of difference. Starting from the second
session, each additional member will be added to the council, so that the
community can express their opinions smoothly.

Executor (Secretary-General) The top person in charge of the foundation's

administrative affairs, who provides unified guidance and coordination for
daily operation management, technology development, market expansion,
community maintenance, and public relations. The secretary-general is elected
by the council and reports to the council on a regular basis.

Technical Committee, composed of core developers in the PANDA team,

is responsible for the formulation and decision-making of technology
research and development direction, the development of open ports for
underlying technology development, and the review of technology patent
development and review. In addition, members of the technical review
committee regularly learn about the dynamics and hotspots of the
community, and hold technical exchange meetings from time to time.

35
 Marketing and Public Relations Committee, ecological development and
community building have always been the core work of PANDA. Under
the supervision of the Finance Committee, the Committee will use the initial
funds and the digital asset income obtained from community operations to
carry out marketing promotion and business cooperation. More Incorporate
potential partners into the ecological scope to promote sustainable
ecological development. The committee will also be responsible for all
outreach and public relations operations.

Finance and Personnel Management Committee, responsible for the use and
review of foundation funds, personnel recruitment and salary management,
daily operating cost management, etc.

6.2 Core team member

Michael Minkevich Founder of PANDA

Over 20 years of global financial services and leadership experience

Served as a European investment representative at Citigroup

Became a non-executive director on the board of Nippon Wealth Japan

World-renowned computer technology application development experts

Worked for Apple, SGI, Microsoft and Google and other companies

Over 15 years of global IT development and operation experience

36
Daniel Richard Technical Director of PANDA

Founder and leader of the public agency "Prime Stream" (business structure,
formulation of financial regulations)

· Leader of "24 ICE" in public institutions (leadership and management,

partner research and cooperation)

Burt Laurent PANDA Software Engineer

DataTrails(parameter);

Software engineer for eDelivery project (performs data artifact distribution,

integration with Amazon environment)

Founder and creator of public agency "Programming

production" (development of technical architecture and solutions, game
development)

Allen rock PANDA

PHP and JavaScript developers at FoggyLab (online entertainment services,

website development)

FrontEnd developer for MVideo (development of web applications in

the field of leading electronics retailers)

Web developer for United Traders (web application development for

trading services)

Co-Owner and Head of Web Development of Blak-IT (Development

of mobile and web applications)

37
 jackson wesley PANDA technology developer

C# developer for iTransition (software engineer working on large

projects (developing data entry architecture, implementing node
loading and connectivity solutions)

Software engineer for Bill + Payment project (developing payment

system for online education service)

Software engineer for the State Watcher project (developing

the architecture of complex systems for monitoring and analyzing the
status of network nodes and file version control systems)

CEO of Flaxtreme (mobile game development, such as the live wallpaper

of the historic Belarusian coat of arms Pahonia).

Android developer at Earth PlaPANDAt (built over 10 projects from

scratch, was part of remote development team).

CEO of Blak-IT and Android developer (mobile and web

application development).

Rita samuel R & D staff

Develop the program in the professional field of justice

"Promise" project founder (online news service, back-end and front-

end development);

6.3 Future plan

PANDA will strive for the implementation of energy projects by negotiating PPP
or other forms of energy project cooperation with regulatory authorities.
Investors

38
invest in the construction of equipment such as energy monitoring micro-stations
and energy management platforms of the project through virtual/actual funds.

After the related equipment joins the PANDA global green energy
ecological operation, the continuously generated Token can allow equipment
investors to obtain the corresponding virtual asset returns, and the PANDA
global green energy ecology can realize virtual asset cashing through
repurchase. With the implementation of more and more new energy
projects of the Ministry of Supervision, the emergence of enough IoT
monitoring devices in the entire PANDA global green energy ecological chain in
the ecosystem can make the system more stable and effective, and make the
exchange of funds more efficient. for convenience.

39
Chapter 7 Disclaimer

Nothing in this white paper constitutes legal, financial, business or tax advice
and you should consult your own legal, financial, commercial or other professional
advisors before engaging in any activity related to this.

Foundation staff, project R&D team members, third-party R&D organizations

and service providers are not responsible for any direct or indirect damages and
losses that may be caused by the use of this white paper.

This white paper is for general informational purposes only and does not
constitute a prospectus, an offer document, an offer of securities, a solicitation of
investment or any offer to sell any product, item or asset, whether digital or
otherwise. The following information may not be exhaustive and does not imply
any element of contractual relevance.

The White Paper cannot guarantee the accuracy or completeness of the

information, nor does it guarantee nor promise to provide a statement of the
accuracy and completeness of the information. Where this white paper contains
information obtained from third parties, the Foundation and the team have not
independently verified the accuracy and completeness of such information. In
addition, you need to understand that the surrounding environment and situation
may change at any time, so this white paper may be out of date due to this, and the
Foundation has no obligation to update or correct the content and documents
related to this.

No part of this White Paper constitutes and will not constitute any offer by the
Foundation, the Distributors and any sales team (as defined in this Agreement), nor
shall the content of the White Paper be relied upon by any contractual and
investment decision Dependent base.

Nothing contained in this white paper can be taken as a representation,

promise or guarantee of future performance.

By accessing and using this white paper or any of its contents, you provide the
Foundation, its affiliates and your team with the following warranties:

40
 In any decision to purchase PANDA, you have not relied on any
statement contained in this white paper;

You will voluntarily assume the costs and ensure compliance with all legal,
regulatory requirements and restrictions applicable to you (as the case may be);

You acknowledge, understand and agree that PANDA may have no value,
neither guarantee nor represent any value and circulation properties, and cannot
be used for speculation-related investments;

Neither the Foundation nor its affiliates nor team members are responsible or
liable for the value, transferability, liquidity of PANDA, and any market that
provides PANDA through third parties or otherwise;

You acknowledge, understand and agree that if you are a citizen, national,
resident (tax or otherwise relevant), residence or green card holder of a geographic
region or country that meets the following conditions, you will not be eligible to
purchase any Eligibility for PANDA:

A sale of PANDA may be defined or construed as a sale of securities

(however named) or investment products;

Access to and participation in the sale of PANDA is prohibited by law or

in countries and regions where PANDA is prohibited by law, policy, regulation,
treaty or administrative regulation.

The Foundation and the team do not and do not intend to make any
representations, warranties and commitments to any entity or individual, and
hereby disclaim any responsibility (including but not limited to the content of this
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the Foundation, and related contents presented in other forms (including but not
limited to any errors or omissions). content) arising out of tort, contract disputes or
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not limited to any liability arising from breach of contract or negligence, any loss of
revenue and profit and loss of use and data). Potential purchasers should carefully
consider and evaluate all risks and uncertainties (including financial, legal and

41
uncertain risks) associated with the sale, foundation, distributors and teams.

The information provided in this white paper is for community discussion only
and is not legally binding. No one is obliged to enter into any contracts and binding
legal commitments for the acquisition of PANDA, and other than that, this white
paper will not accept any virtual currency or other forms of payment. PANDA's
sale and purchase agreement and long-term continuing holding of PANDA is
subject to a separate set of terms or a purchase agreement (as the case may
be) containing relevant terms and conditions, which are provided to you separately
or available on the website. In the event of any inconsistency between these Terms
and Conditions and this Whitepaper, these Terms and Conditions shall prevail.

Regulators have not reviewed or approved any of the information set out in
this white paper, and there is nothing in the laws, regulatory requirements and rules
of any jurisdiction that states that it is or will be required to do so. The publication,
distribution or dissemination of this white paper does not imply that the
requirements or rules of applicable laws.

This is just a conceptual white paper to describe the long-term development

goals of the PANDA that will be developed. This white paper may be revised
or replaced from time to time. There is no obligation to update the white paper
and provide the audience with information beyond the scope of this white paper.

All statements, press releases and publicly accessible statements contained in

this white paper, as well as oral statements that may be made by the Foundation
and the PANDA team, constitute forward-looking statements

You are cautioned not to place undue reliance on these forward-looking

statements, as these statements involve known and unknown risks, risks of
uncertainty and other factors that could cause actual future results to differ
materially from those described in these forward-looking statements , at the same
time, it should be noted that no independent third party has reviewed and judged
the reasonableness of these statements and assumptions. These forward-looking
statements speak only as of the date indicated in this white paper, and the
Foundation and the PANDA team expressly disclaim any responsibility
(whether

42
express or implied) for the consequences or events arising from and arising from
revisions to these forward-looking statements after that date. Show).

The use of any company or platform name or trademark herein (other than in
connection with the Foundation or its affiliates) does not imply any affiliation with
or endorsement by these third-party platforms and companies. The specific
companies and platforms mentioned in this white paper are for informational and
illustrative purposes only.

This white paper may be translated into languages other than Chinese,
and if there is any conflict or ambiguity between the Chinese version and the
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acknowledge that you have read and understood the Chinese version of this white
paper. No part of this white paper may be reproduced, reproduced, distributed or
disseminated in any way without the prior written permission of the Foundation.

43