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ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

Crypto Weekly News — September, 11

What important crypto events happened last week?
Cryptocurrencies
VeChain: New Consensus Algorithm Offers Strong Performance And Security
The VeChainThor blockchain will receive a new consensus algorithm called SURFACE or Proof of Authority 2.0 (PoA 2.0). The double consensus model gives users the ability to choose different levels of security for their transactions.
Chainlink Surges 25% Higher As Altcoin Market Recovers
Some altcoins have suffered in the past few days, dropping significantly from their recent highs. During this time, LINK underwent a strong leap that lifted the cryptocurrency by 25%. Analysts are divided on what comes next with Chainlink.
Monero Is Traceable Using New CipherTrace Tool
Analyst firm CipherTrace has unveiled a first-of-its-kind tool for tracking transaction flows in Monero (XMR) at the request of the US Department of Homeland Security. The new tool will allow tracking of stolen coins and those used for illegal transactions.
Updates
MetaMask Has Launched Its Ethereum Wallet For iOS And Android
Starting September 4, Android and iOS users are required to download a full mobile version with the ability to interact with dApps. To synchronize history and import existing wallets, the user just needs to scan the QR code.
Crypto Exchange Bitstamp Exploring 25 New Tokens For Listing
The list, published on September 3, includes Augur (REP), Maker (MKR), Polkadot (DOT), Chainlink (LINK), Tezos (XTZ), Cardano (ADA), Kyber Network (KNC) and others. Bitstamp is known for its extremely conservative approach to the listing of new coins. The marketplace currently supports only seven crypto assets.
OKEx Officially Ranked The World’s Largest Crypto Derivatives Exchange
CoinDesk Research analyzed and evaluated data from CoinGecko, according to which the value of outstanding contracts on OKEx at the end of last month was $1.6 billion, making it the largest crypto derivatives exchange in the world.
Binance Launches DeFi-Styled Automated Market Maker Pool
Binance Liquid Swap is based on a variety of liquidity pools, allowing crypto assets to be swapped using the Automatic Market Maker (AMM) pricing algorithm instead of the order book. This guarantees price stability and lower transaction fees. The new trading feature allows users to pool tokens for instant liquidity and earnings.
Law, Cybercrimes, Mass Adoption
Mastercard Releases Platform Enabling Central Banks To Test Digital Currencies
The project is a controlled environment in which banks can simulate the issuance of national digital currencies. The result will be an assessment of their compatibility with the existing payment ecosystem and the practicality of using CBDC.
Eterbase: A New Attack On A Crypto Exchange
On September 8, unknown persons hacked Eterbase cryptocurrency exchange located in Slovakia. The site announced the loss of user funds in Bitcoin, Ethereum, Tron, XRP, Tezos, and Algorand totaling over $5.3 million. Representatives of Eterbase said that they contacted all centralized exchanges to which the stolen funds were sent.
US Crypto Adoption Rate Lags Behind Russia and China
Recent data showed an astonishing first place for Ukraine in the 2020 Global Adoption Index, followed by Russia and Venezuela. The index considers the total cost of online transactions, the cost of online retail transfers, and the number of cryptocurrency deposits online. The index also takes into account the volume of transactions made on P2P cryptocurrency exchanges.
Just Eat In France Accepts Bitcoin, Bitcoin Cash And Ethereum
The integration of cryptocurrencies into more than 15,000 restaurants in France was carried out through the Bitpay payment service. This initiative can promote the use of cryptocurrencies among the general public in a more democratic manner. Bitcoin conversion will be carried out in accordance with Bitpay's own quotes.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Crypto Weekly News — September, 11

What important crypto events happened last week?

Cryptocurrencies

VeChain: New Consensus Algorithm Offers Strong Performance And Security
The VeChainThor blockchain will receive a new consensus algorithm called SURFACE or Proof of Authority 2.0 (PoA 2.0). The double consensus model gives users the ability to choose different levels of security for their transactions.
Chainlink Surges 25% Higher As Altcoin Market Recovers
Some altcoins have suffered in the past few days, dropping significantly from their recent highs. During this time, LINK underwent a strong leap that lifted the cryptocurrency by 25%. Analysts are divided on what comes next with Chainlink.
Monero Is Traceable Using New CipherTrace Tool
Analyst firm CipherTrace has unveiled a first-of-its-kind tool for tracking transaction flows in Monero (XMR) at the request of the US Department of Homeland Security. The new tool will allow tracking of stolen coins and those used for illegal transactions.

Updates

MetaMask Has Launched Its Ethereum Wallet For iOS And Android
Starting September 4, Android and iOS users are required to download a full mobile version with the ability to interact with dApps. To synchronize history and import existing wallets, the user just needs to scan the QR code.
Crypto Exchange Bitstamp Exploring 25 New Tokens For Listing
The list, published on September 3, includes Augur (REP), Maker (MKR), Polkadot (DOT), Chainlink (LINK), Tezos (XTZ), Cardano (ADA), Kyber Network (KNC) and others. Bitstamp is known for its extremely conservative approach to the listing of new coins. The marketplace currently supports only seven crypto assets.
OKEx Officially Ranked The World’s Largest Crypto Derivatives Exchange
CoinDesk Research analyzed and evaluated data from CoinGecko, according to which the value of outstanding contracts on OKEx at the end of last month was $1.6 billion, making it the largest crypto derivatives exchange in the world.
Binance Launches DeFi-Styled Automated Market Maker Pool
Binance Liquid Swap is based on a variety of liquidity pools, allowing crypto assets to be swapped using the Automatic Market Maker (AMM) pricing algorithm instead of the order book. This guarantees price stability and lower transaction fees. The new trading feature allows users to pool tokens for instant liquidity and earnings.

Law, Cybercrimes, Mass Adoption

Mastercard Releases Platform Enabling Central Banks To Test Digital Currencies
The project is a controlled environment in which banks can simulate the issuance of national digital currencies. The result will be an assessment of their compatibility with the existing payment ecosystem and the practicality of using CBDC.
Eterbase: A New Attack On A Crypto Exchange
On September 8, unknown persons hacked Eterbase cryptocurrency exchange located in Slovakia. The site announced the loss of user funds in Bitcoin, Ethereum, Tron, XRP, Tezos, and Algorand totaling over $5.3 million. Representatives of Eterbase said that they contacted all centralized exchanges to which the stolen funds were sent.
US Crypto Adoption Rate Lags Behind Russia and China
Recent data showed an astonishing first place for Ukraine in the 2020 Global Adoption Index, followed by Russia and Venezuela. The index considers the total cost of online transactions, the cost of online retail transfers, and the number of cryptocurrency deposits online. The index also takes into account the volume of transactions made on P2P cryptocurrency exchanges.
Just Eat In France Accepts Bitcoin, Bitcoin Cash And Ethereum
The integration of cryptocurrencies into more than 15,000 restaurants in France was carried out through the Bitpay payment service. This initiative can promote the use of cryptocurrencies among the general public in a more democratic manner. Bitcoin conversion will be carried out in accordance with Bitpay's own quotes.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Crypto Weekly News — September, 11

What important crypto events happened last week?

Cryptocurrencies

VeChain: New Consensus Algorithm Offers Strong Performance And Security
The VeChainThor blockchain will receive a new consensus algorithm called SURFACE or Proof of Authority 2.0 (PoA 2.0). The double consensus model gives users the ability to choose different levels of security for their transactions.
Chainlink Surges 25% Higher As Altcoin Market Recovers
Some altcoins have suffered in the past few days, dropping significantly from their recent highs. During this time, LINK underwent a strong leap that lifted the cryptocurrency by 25%. Analysts are divided on what comes next with Chainlink.
Monero Is Traceable Using New CipherTrace Tool
Analyst firm CipherTrace has unveiled a first-of-its-kind tool for tracking transaction flows in Monero (XMR) at the request of the US Department of Homeland Security. The new tool will allow tracking of stolen coins and those used for illegal transactions.

Updates

MetaMask Has Launched Its Ethereum Wallet For iOS And Android
Starting September 4, Android and iOS users are required to download a full mobile version with the ability to interact with dApps. To synchronize history and import existing wallets, the user just needs to scan the QR code.
Crypto Exchange Bitstamp Exploring 25 New Tokens For Listing
The list, published on September 3, includes Augur (REP), Maker (MKR), Polkadot (DOT), Chainlink (LINK), Tezos (XTZ), Cardano (ADA), Kyber Network (KNC) and others. Bitstamp is known for its extremely conservative approach to the listing of new coins. The marketplace currently supports only seven crypto assets.
OKEx Officially Ranked The World’s Largest Crypto Derivatives Exchange
CoinDesk Research analyzed and evaluated data from CoinGecko, according to which the value of outstanding contracts on OKEx at the end of last month was $1.6 billion, making it the largest crypto derivatives exchange in the world.
Binance Launches DeFi-Styled Automated Market Maker Pool
Binance Liquid Swap is based on a variety of liquidity pools, allowing crypto assets to be swapped using the Automatic Market Maker (AMM) pricing algorithm instead of the order book. This guarantees price stability and lower transaction fees. The new trading feature allows users to pool tokens for instant liquidity and earnings.

Law, Cybercrimes, Mass Adoption

Mastercard Releases Platform Enabling Central Banks To Test Digital Currencies
The project is a controlled environment in which banks can simulate the issuance of national digital currencies. The result will be an assessment of their compatibility with the existing payment ecosystem and the practicality of using CBDC.
Eterbase: A New Attack On A Crypto Exchange
On September 8, unknown persons hacked Eterbase cryptocurrency exchange located in Slovakia. The site announced the loss of user funds in Bitcoin, Ethereum, Tron, XRP, Tezos, and Algorand totaling over $5.3 million. Representatives of Eterbase said that they contacted all centralized exchanges to which the stolen funds were sent.
US Crypto Adoption Rate Lags Behind Russia and China
Recent data showed an astonishing first place for Ukraine in the 2020 Global Adoption Index, followed by Russia and Venezuela. The index considers the total cost of online transactions, the cost of online retail transfers, and the number of cryptocurrency deposits online. The index also takes into account the volume of transactions made on P2P cryptocurrency exchanges.
Just Eat In France Accepts Bitcoin, Bitcoin Cash And Ethereum
The integration of cryptocurrencies into more than 15,000 restaurants in France was carried out through the Bitpay payment service. This initiative can promote the use of cryptocurrencies among the general public in a more democratic manner. Bitcoin conversion will be carried out in accordance with Bitpay's own quotes.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to btc [link] [comments]

If you missed the AMA

AMA AT DETECTIVE ID (25/06/2020)
Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken.
Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established?
The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control.
Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020?
By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges.
Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers?
Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community
Community Questions (Twitter):
Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale?
Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions
Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different?
Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side
Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing?
As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here.
Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera?
I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle).
Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed?
The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :)
Nuked Phase (3rd Part)
Q) What is your VISION and Mission?
Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset.
Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion?
We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊)
Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?.
You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens
Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them?
We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on.
Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.??
When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing
Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction?
We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem
Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market?
We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18
Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges?
Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price.
Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents?
We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract).
Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects?
Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk)
Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people.
Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology?
We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming
Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations.
Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term?
The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above
Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it?
We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token.
Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges?
STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible??
Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community
Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ?
Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention.
Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space?
We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about.
Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term?
The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people!
Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space?
We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this?
By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would
Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time?
I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
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A Shift to Chromia Blockchain is Right Here

The purpose of Blockchain tech isn’t just to make money but to help in the development of a market place where everyone will have access to a better and reliable technology.
This outstanding feature is what chromia blockchain is continuing to demonstrate.
The past months has been busy period for Chromia team, the platform has pushed out a lot of exciting updates since the beginning of June 2020:
1.In the month of June 2020, Chromia team had a great AMA featuring the CEO Henrik Hjelte, and India’s Largest Cryptocurrency Exchange CoinDCX. You can read a good recap on it in the CoinDCX blog. Link to the AMA: https://blog.coindcx.com/ama-with-chromia/
2.The development of the LAC Property Chain Sponsored by the Inter-American Development Bank is in full progress. With this development, consortium land registries, banks, notaries, and governments in Peru, Bolivia, and Paraguay that will manage property transactions on the Chromia blockchain. Watch this YouTube video to learn more https://youtu.be/wymNVlCRc-o
3.Chromia Treasure hunt begins on July 12th 2020 and this has received remarkable participation by chromia fans across the globe. A pool of $5000 in CHR to be won!
4.OR Perelman, the COO of chromia was mentioned in a recent CoinDesk article.
Read the full piece here: coindesk.com/covid-19-e-commerce-bitcoin (http://coindesk.com/covid-19-e-commerce-bitcoin)
  1. Providing best solution to enterprise is one of the core objectives of Chromia platform, in view of this, Chromia entered a partnership with FDLT Technology! ✍️Learn more about FDLT here: https://fdlt.technology/
6.On July first Binance exchange begins Chromia trading competition! $50,000 in CHR tokens to be won! 🔥Duration was between: July 1 — July 8. Similar trading competition and airdrop event was held on Bithumb in celebration of the launch of Mines of Dalarnia on testnet! 2,800,000 CHR tokens were up for grabs!
7.On July 3rd 2020, CHR Launched on Boboo.com
8.As Binance exchange celebrates its 3rd anniversary, any one who trades $CHR will have an open gift worth up to $100 that could be share with his or her loved ones. Read the full details at https://www.binance.com/en/support/articles/e228be4662de47feb291107e4fd3dbdf
https://chromia.com
http://chromaway.com
submitted by dam30 to Teamchromia [link] [comments]

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
---
None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
------
Other Ways to Consume Today's Episode:
Follow our social channels:https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto:https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Let's discuss some of the issues with Nano

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly. Similar to TCP/IP, email servers, and http servers. Just like Bitcoin full nodes.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
Obviously there is still a lot of work to be done in some areas, but overall I think Nano is a good place. For people that aren't Nano fans, what are your biggest concerns?
submitted by Qwahzi to CryptoCurrency [link] [comments]

Equilibrium May Summary

In spite of quarantines and worldwide slowdown, Equilibrium has kept up to speed in May. We were active with PR in several podcasts and an AMA. Our governance system is developing fast, with numerous top names joining the system. We have launched our staking pool, a powerful instrument that offers users passive income. Finally, we are excited to have launched the Equilibrium testing team, in which you, our community, take the lead role!

Launch of our staking pool

Our staking pool lets you earn predictable interest on EOS and NUT, and now, also on EOSDT. The interest rate earned on EOSDT depends on the total amount of EOSDT already staked to the contract, the fee sent to the smart contract, the total outstanding EOSDT, and the amount of EOSDT the user deposits to the staking pool. The more EOSDT you stake, the more interest you earn on it. You can read about examples of how you can predict your earnings here.

Major industry players join our governance

Several major players have joined Equilibrium’s governance system. They include: Binance, eosfinex, EOS Nation and EOS Cannon. Each of these well-known companies are now part of the approval process for EOSDT contracts before those contracts are released. The smart contracts behind EOS-based DeFi applications are changeable and upgradeable for the sake of future-proofing these services. Thanks to this feature of EOSIO, DApp upgrades can happen seamlessly without requiring painful migrations to a completely new set of contracts as is the case on other platforms like Ethereum. Equilibrium’s governance system only allows code to be updated if there are multiparty signatories. This is key to ensure decentralization and prevent a single point of failure. We are honored to welcome such prominent participants to our ecosystem.

AMA Session with MyKey wallet on Bihu

MyKey wallet invited our CEO Alex Melikhov to feature one of our top innovations: “DeFi Hub in your crypto wallet: multiple options to get passive income”. As you know if you own EOSDT, letting your money work for you is one of our main advantages. There are several ways to do this. You can read about lending to earn passive yield on the Equilibrium website.

Q&A with the pTokens community

In another media event, Alex Melikhov met with the pTokens(pBTC) community for a podcast. pTokens are the ERC-20 token version of other, non-Ethereum blockchain currencies that enable liquidity to freely move from one blockchain to another. We have recently entered a cross-chain partnership with pTokens, launching support for Bitcoin collateral. Podcast topics included: the advantages of EOS as a platform for building high-powered DeFi apps above and beyond Ethereum, our plans for listings on major exchanges, and our stability fund, the first defi insurance policy to minimize user risk by guaranteeing funds. You can watch the podcast with pTokens here.

Podcast with Greymass

Yet another podcast with Greymass — a platform that curates world-class B2C experiences — featured Alex Melikhov on Equilibrium as the leading defi liquidity project on EOS. The discussion focused on our stablecoin as the key element in defi ecosystems, the advantages of staking for our tokenholders, Equilibrium’s growth in Asia and the geographical distribution of our clientele, offered a peak at new products including plans for our liquidity pool, and explained our innovative portfolio leveraging in one single transaction.

First governance proposal on Equilibrium

Equilibrium has now confirmed its first governance proposal, which has raised our stablecoin fee to 1,8% APR. Changes in stablecoin fees affect the supply side by targeting its generation and payback intensities, while the rewards from the EOSDT savings contract affect the demand side by offering a “risk-free” return on EOSDT’s stake. Defending the peg becomes especially important as Equilibrium prepares for forthcoming listings of EOSDT on major exchanges and the opening of new markets, which will increase liquidity and EOSDT trading volumes. This proposal is an important milestone for Equilibrium EOSDT because it marks a big step in the evolution of its decentralized governance process.

Equilibrium’s testing team

At Equilibrium, our most important collateral is our community. You are essential to the development of our ecosystem, and we want to have as much ‘end-user feedback’ as possible. That’s why we are calling for our community members to join the product testing team. If you would like to join, you can connect a wallet, test specific cases and workflows, the user-oriented Equilibrium.io DeFi hub (web application) — we’d love to get your feedback! — and create EOS/BTC positions. Find out how you can participate and earn NUT.
Source: https://medium.com/equilibrium-eosdt/equilibrium-may-summary-5f81f11566ef
submitted by BTCfan234 to eos [link] [comments]

A REVIEW OF CHANGENOW'S SIMPLE, SECURED AND INSTANT NON-CUSTODIAL EXCHANGE!

Hello, and welcome to my blog. I trust you are staying safe and healthy amidst the Covid-19 pandemic.
For a while now I haven't researched nor reviewed on any viable project due to my tight schedules. But not too worry… I have prepared something new for you, most especially if you are found with daily buying and selling of cryptocurrencies. Read on!
The importance of blockchain technology cannot be overemphasized. Virtually every sector or industry today has witnessed the revolutionary progressions brought by this technology. It has helped to improve the way we do things, what we do and how we do it.
The Cryptocurrency space is one in which has benefited greatly from the advancements of this tech. With a lot of projects surfacing on daily basis adopting and implementing the core values of blockchain in their ecosystems. We can then conclude that the crypto space has seen a lot of technological shifts through blockchain.
Now coming to the crypto space, we have different segments of it. We have the Cryptocurrency Wallet, the Exchange,the trading aspect, the Dapps, crypto assets etc. But my focus in this article shall be on the Cryptocurrency exchange. How to exchange or trade your various assets, where or rather say the best exchange to trade your crypto etc. These shall be discussed in subsequent paragraphs.
ABOUT CRYPTOCURRENCY EXCHANGE
The cryptocurrency exchange is where traders and crypto enthusiasts get to buy or sell their various cryptocurrencies. Currently on the crypto space, there are several crypto exchanges operating. Some of which include, ChangeNOW simple swap exchange, Binance, Okex, Latoken, Atomic Wallet swap DeX, CoinEx etc. All these exchanges and several more are classified under 2 category namely:
Decentralized Exchange. Centralized Exchange.
Ideally, several cryptocurrency enthusiasts and analysts recommend the Decentralized Exchange. Reason because these Decentralized exchanges tend to be secured and non-custodial in their operations. This is where I will Introduce the subject of discussion: CHANGENOW EXCHANGE.
ABOUT CHANGENOW'S SIMPLE EXCHANGE!
Have you ever tried to trade or exchange your crypto assets on any crypto exchange only to discover that registration and trading on the exchange is rigorous? Well, if you haven't experienced this, I have on several occasions experienced this. Sometimes, I end up losing my trades due to lack of my technical know-how to utilize the exchange. Sometimes, the coins I plan to trade in the exchange drops drastically in price before my registration and deposit is completed. This becomes worrisome!
Every trader is entitled to getting the best user-friendly experience while optimizing any cryptocurrency exchange. This is why on steady basis, several exchanges are launched to solve one or two problems. It was for these reasons and many more that ChangeNOW_io is launched. Firstly, I'd like to say kudos to the team for such a wonderful innovation.
WHAT IS CHANGENOW?
ChangeNOW is a Decentralized and non-custodial exchange which provides simple, secured and instant exchange of over 200 cryptocurrencies. ChangeNOW bridges the barrier of rigorous "REGISTRATION" processes, ChangeNOW also sets in a smooth, secured and instant conversion of your crypto with minimal fees. That is, with ChangeNOW exchange, you don't have to go through the rigorous processes of registration before you can use their simple and low fees exchange. This is amazing right? Let me tell you how ChangeNOW does this!
HOW CHANGENOW_IO WORKS!
ChangeNOW cryptocurrency exchange is integrated into multiple trading and exchange platforms such as Binance, Okex, Huobi etc. When trading on the ChangeNOW exchange, the exchange chooses for you the best exchange with the cheapest available rate as at the time of trading and offers the user. Isn't this amazing? ChangeNOW Exchange offers the best customer support service. A 24/7 support system through the aid of, ChangeNOW Premium Lounge. This is a support services that provides traders's queries on the ChangeNOW exchange with the best support ever.
OUTSTANDING FEATURES OF CHANGENOW EXCHANGE!
Among the outstanding quality features of ChangeNOW are:
NOWNodes
NOWPayments
NOWToken
I shall succinctly describe how these great features works and how it can benefit you. Read on!
NOWNodes
ChangeNOW's NOWNodes is a service that provides fast and easy access to the most popular blockchain nodes. Hence, connecting to the most popular nodes say Bitcoin, Ethereum, DigiByte etc. is now made easy through NOWNodes secure and reliable API tools.
NOWPayments
ChangeNOW's NOWPayment is a non-custodial and Decentralized service that makes it easier,fast and secured to accept cryptocurrency payments anywhere, anytime.
NOWToken
NOWToken is the native cryptocurrency of ChangeNOW. NOWToken serves as the major and internal medium of NOW Products. Currently, the NOWToken is tradeable on Binance DeX and Idex exchanges. To be listed on several other exchanges in the future. The value of the NOWToken is bound to appreciate as there becomes greater utility of the ChangeNOW exchange. NOWToken is based on the popular Erc20 blockchain and also on the Binance Chain. This makes it possible for holders of erc20 NOWToken to be able to swap to Binance Chain and back to erc20 as the case may be through ChangeNOW's Token Swap service.
CONCLUSION
Ideally, I maintain that ChangeNOW exchange is one of the best non-custodial and Decentralized exchanges out there. It is simple to use, secured and instant exchange of digital currencies offering the best possible and cheapest fees. The NOWToken is an altcoin that will prolly give you maximum profits comes the next bull. It has some potentials!
For Your comments and questions are welcomed. I will be here to clear any doubts and questions about ChangeNOW simple and instant exchange.
Don't forget to also carry out your own due research about this viable exchange (ChangeNOW). I am a researcher, Investor and cryptocurrency trader.
You can find out more about ChangeNOW Exchange below.
RESOURCES ON CHANGENOW EXCHANGE
WEBSITE: https://changenow.io/
FACEBOOK: https://www.facebook.com/ChangeNOW.io/
TWITTER: https://twitter.com/ChangeNOW_io
TELEGRAM: https://t.me/changeNOW_chat
MEDIUM: https://medium.com/@changenow_io
submitted by Ritabel2020 to CryptocurrencyICO [link] [comments]

What are Nano's biggest issues? Let's talk about it!

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
submitted by Qwahzi to nanocurrency [link] [comments]

Hoo.com Founder Ruixi Wang: Dive into Blockchain with Great Ambition

We are counting down for Bitcoin halving 2020.
But this time, the halving seems much more special compared to the previous two with the COVID-19 pandemic and its aftermaths. Bitcoin is facing its first real challenge as well as opportunity.
“The confidence the halving brings is more important than its actual market performance. The COVID-19 pandemic might accelerate the downmarket, but it will also cause a quick reverse of the economy. From that perspective, the halving together with the pandemic will possibly have a positive influence on the crypto space. My prediction is that Bitcoin price will skyrocket to $100,000 by 2021.”
That’s how Ruixi Wang views the Bitcoin halving under the circumstances of the COVID-19 pandemic. What insights and cognition the 30-year-old entrepreneur has on the crypto and blockchain sphere? Why did he predict boldly that the Bitcoin price would reach up to $100,000?
Blocklike had a conversation with Ruixi Wang, founder of Hoo.com, who shared his opinion on the blockchain industry and the “evolution history” of Hoo.com.
The 30-Year-Old “Veteran”
“Not being content with the status quo and always staying curious with new things were the two incentives that got me involved in blockchain. I have a technical background, so I’ve always been keen on technology and its progress, trends and development. I got to know cryptocurrency by chance years ago, and I was deeply attracted by its novel concept right away. But I was in the wave of big data start-ups at the same time. I was a big fan of that too. So I got myself into a dilemma — which one should I pick? But after a few strugglings, I turned to crypto in the end,” Ruixi Wang recalled how he ended up in crypto.
Although he stepped into the space in its infancy, Wang’s blockchain career was not always smooth.
Starting his blockchain trip by building a Bitcoin information navigator, Wang then worked for the mining team of a young talent Kaomao. He took over his mining machines and built his own company when Kaomao suddenly vanished. He also bought out PoW8.com, a cloud computing platform, and established an ICO investment platform before founding Hoo.com. The rapid changes forced Wang to challenge and to break himself. Now Wang has become a true “veteran”with his 8 years experience in the industry .
Looking back on the past, he summed up his experience with “diving into blockchain with great ambition”. He said that his inherent curiosity drove himself forward, during which he had to face more challenges but also gained more opportunities than his fellow peers. At the same time, it is precisely because of his persistence and full confidence in the future of crypto that enabled him to adjust his positioning and quickly adapt to a firm foothold in the rapid change of the industry.
Talking about his feelings about his 8 years in the sphere, Wang said: “What impressed me most was the volatile ups and downs of this industry. I withdrew from a stable job and quickly plunged into a new space. I’ve seen so many new faces pouring into the industry while so many old players leaving at the same time. Only those who are in my shoes would comprehend.”
The “get rich quick” myth is fading away, which leaves a bunch of outstanding companies and talents in the blockchain space. For that, Wang believes that perseverance and confidence are vital. “For the better development of the industry, we need companies and people who are confident in themselves but are always willing to correct themselves at the same time.”
“And it turns out true. Huobi, OKex and Binance merged immediately after BTCC, the first Chinese Bitcoin exchange, fell down. These top exchanges made the industry bigger and better. On the other hand, crypto wallets like Bitpie, have also made great contributions to the safe and sound development of the industry. I believe these people are persistent and confident in what they are doing and I also believe that they will have a bright long future,” explained Wang.
The Road to Hoo.com
When it comes to his latest start-up Hoo.com, Wang feels lucky that he seized the opportunity to do the right thing.
In 2017, Wang ran into the ICO heat when he was seeking for a transformation from the mining industry. With a technical background, he chased the wave and invested in quite many projects and tasted blood until ICOs were completely banned on September 4.
He had to seek another way out. Wang found that there were still gaps to be bridged in the asset management and financial system. He believed “asset management” will be a long-term inflexible demand in the industry. Therefore, Hoo Wallet was born. And that’s the mission of Hoo — to solve the safety issue of asset management as a basic service.
Focusing on the mission, Hoo Wallet launched a Co-management feature, Hoo Custody, Deposits and Lending services, etc. In June 2019, Hoo.com was officially launched as a crypto exchange along with two acquisitions. It aims to be a one-stop blockchain asset service platform covering trading, savings, lending, asset custody and DEX, etc.
There are much more competitors in the exchange field than wallets. How will Hoo stand out given the fact that Huobi, OKEx and Binance have shared almost all of the market? Wang explained that even though Hoo seemed to be a new player as an exchange, they have explored for two years in the savings and lending business as well as the node service for over 20 blockchains.
“The threshold for building an exchange is relatively low. There are too many propogandas and speculations. In fact, exchanges depend heavily on technology and marketing. It is hard to “graduate” in the end. As for Hoo.com, we are well-equipped on the technical side. Apart from that, Hoo.com had a good starting line when we spent $10 million on the acquisition of Chaince and OAX and migrated their users directly,” added Wang.
Besides, Wang is of the opinion that the top exchanges are greatly affected by the pandemic and the March 12 Black Swan event. All the exchanges are back to the starting point to some degree. What they will compete for next would be “service”. It is true that the top players have taken up the market, but from the perspective of the whole crypto financial market, there is still much space to explore. Which means that there’s still a lot to grow for top exchanges and there are huge opportunities for tier 2 and tier 3 exchanges.
The Ambitious Hoo.com
In Wang’s opinion, there are often times when those who speak louder or make more noise seem to be more impressive. As a matter of fact, a start-up cannot live without good products and services.
Calling himself an entrepreneur, Wang now has something to await for the business he built. From savings, lending to spot trading and perpetual contracts, the ambitious Hoo never stopped being just a wallet.
He pointed out: “So far, users seem to be satisfied with our savings, lending and derivatives products. But we still have a long way to go. We are aware of our problems. Anyway, facing up to your shortcomings is the first step to move forward.”
What Hoo.com wants to build as a platform, and what kind of products and services will it provide?
Wang reveals to Blocklike that Hoo.com has two different goals in the medium and long term:
In the medium term, Hoo.com will focus on derivatives including futures, contracts and options. It will not be limited to the crypto space. They will build partnerships with well-known traditional financial organizations.
In the long term, the plan is to build a clearing system, which refers to the clearing between fiat and cryptocurrency. Hoo aims to be a bridge that gaps between the traditional market and the crypto market.
The reason why Wang wants to build this clearing system is also based on his positive expectation on the blockchain industry.
He told Blocklike: “There is a lot of favorable news lately. The central bank accelerated its pace in DCEP adoption. BSN, the state level blockchain service network, is about to be commercialized. Ant Financial open chain was officially launched… Compared to the development of the Internet, blockchain technology will welcome a more competitive state involving companies, countries and even the whole world in the next period and it will prosper like the Internet.”
submitted by Hooexchange to u/Hooexchange [link] [comments]

Komodo's 2.0 Infographic Contest: 5,000 KMD Grand Prize!

Komodo's 2.0 Infographic Contest: 5,000 KMD Grand Prize!

https://preview.redd.it/0yq7rwnkjdq11.png?width=1500&format=png&auto=webp&s=950dd49d7e1f7f1e421f7074bd030aec064e6ac7
A total prize pool of 7,000 KMD in our infographic contest
Calling all creatives to take part in our infographic contest and compete for a prize of 7,000 KMD. The winning infographic will explain the architecture of Komodo Platform’s technology. Winners will be those who are able to communicate our architecture and tech visually. This contest will run primarily on Reddit, with the exception of resources being posted to Medium and a master twitter thread for submissions on Twitter. You'll find links at the bottom of this post.

Prizes for winning infographics.

Are you a creative designer? Here's what you can win…
  1. A grand prize of 5,000 KMD
  2. Two runner-up prizes of 500 KMD each
  3. Two third-place prizes of 250 KMD each

Prizes for sharing and giving feedback!

Not a designer? That's OK. You can still participate and win! We'll award five lucky winners 100 KMD each for sharing and promoting the contest. Winners will be picked in a raffle. If you'd like to take part click here https://gleam.io/MwMtO/komodos-20-infographic-contest-5000-kmd-grand-prize and share this post with your friends.

Your Goals

  • Create a high-quality infographic that illustrates the genesis of our platform, the working tech that has been created and how Komodo has been built differently, and deliberately, from the very beginning to ensure security, scalability and interoperability. This is why we refer to the architecture, because Komodo was designed to overcome common problems like congestion, governance and attacks that other platforms did not foresee or prevent, from the beginning. This is Komodo DNA.
  • Share your submission far and wide and encourage your friends and followers to vote for you.
  • Encourage feedback, ask questions and make your infographic the best that it can be.

Our Criteria to Judge

Please note that upvotes and shares are not the only criteria we'll use to judge winners. While useful, we will value creativity, good questions and discussion on Reddit highly. When sharing your posts you will score more highly if people comment, provide feedback and are engaged.
  • How well the infographic conveys our working tech, it's core concepts and plans to build on top of it.
  • How well the infographic illustrates our story, purpose and conveys our tech so that it's easy to understand.
  • Constructive discussion, questions and feedback on Reddit that lead to improvement.
  • Sentiment and comments generated across all our social media. This will not include vanity metrics like likes or shares.
  • Upvotes on Reddit for the author's submission post ONLY. All votes will be counted (i.e. doesn't matter which week they were made).
  • Retweets of the submission in our master thread ONLY. Include your handle and a cover image in your submission. This means if you promote yourself on Twitter you ought to promote the tweet with your work in it.

How do you win?

You may submit up to two infographics. By submitting an infographic, you understand Komodo may post and use your submissions on our digital channels during and after the contest. Each infographic must have it's own post.
  • Create a post on Komodo's subreddit using the 'infographic contest' flair.
  • Add the infographic image into the Reddit post.
  • Include your Twitter handle.
  • Include a social media friendly cover image for us to use when we tweet your submission out.
  • Post a link to your submission post here in the comments for all to see.

Contest Timeline Guide (these dates indicative and are subject to change).

  • 7th September. Announcement. If you're reading this on Reddit before the big announcement then well done! You have two extra days before this is announced on Friday.
  • 10th - 21st September. Research and Questions. We will promote the contest, invite questions and requests for resources, in the comments of this master Reddit post (because this means all information and good questions will be visible to all participants).
  • 22nd September. Draft Submissions. Creatives to submit their draft infographics on Reddit. All submissions need to have their own post and then be linked to in the comments of this master post. This is important to remember!
  • 24th - 30th September. Feedback. A period of one week will be devoted to promoting the submissions and asking the community and team to give you feedback.
  • 1st October. Final Submissions.
  • 2nd - 8th October. Voting. A week of promoting your work and at the end we'll count votes, consider feedback and pick our winners.
  • 15th October. Winners Declared. The final decision by judges. Votes and community feedback counts towards judging but do not have final say.

Resources

If you need help please post in this thread, or email [[email protected]](mailto:[email protected]) with ‘Infographic Contest’ in the subject line.
  1. A list of resources for the Komodo infographic contest including tools to create infographics.
  2. Komodo Platform: Redefining The Architecture Of Blockchain Platforms
  3. A bullet point study aid to help you understand the history of Komodo’s architecture.
  4. Logo Pack https://komodoplatform.com/wp-content/uploads/2018/03/Komodo-Logo-Pack.zip
  5. Mylo's notes on Software & Platform Architecture for Designers in the Infographic Contest
  6. Mylo's Conceptual Model of Architecture
  7. Video: A brief history of our working tech and an animated timeline of the Komodo Platform.
  8. Video: Komodo Atomic Swaps Explained.
Also please let us know if you are, or you know, a good GUI developer because we'd love to hear from them. Ask them to DM ca333#0118 or SHossain#8093 on Discord.

Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.

25/09/18 - First Round of Feedback

Infographics should use graphical design elements to visually represent the Komodo Architecture Story found here: https://komodoplatform.com/komodo-platform-a-brief-overview/ included in our ‘required reading’. There’s also a bullet point aid: https://medium.com/@benohanlon/bullet-point-aid-to-help-you-the-history-of-komodos-architecture-dced35b29965 you may find useful.
  • We want to stress that the infographic ought to focus on the Architecture story. In the first round we've found many have focused on the five pillars which is a part of it but not the focus.
  • Copy should be short and concise and not dominate the infographic. The idea is to simplify the story and not to copy and paste directly from the story.
  • Colour Palette - avoid heavy usage of the old KMD green and yellow-orange. Would prefer usage of the interim KMD colour palette.
  • Recommended fonts: Montseratt, Roboto, Open Sans, Helvetica, or Arial.
  • Graphical - Imagery should complement the associated copy. Diagrams are encouraged in place of simple icons to explain more complex technology concepts.
  • Interim KMD colour palette
Interim KMD Colour Palette
If you’ve not been included in the first round it’s because the submission hadn’t been made when the team reviewed. Don’t worry though because we’re organising hangouts and further feedback to help.
  • #001 Infographic Link // Reddit Post Link by thesudio. There’s a lot of good points made, however, these would work better if there is a clear narrative and flow to the information being presented. Otherwise, it can be overwhelming and confusing to the reader. The #1 objective is to visually depict the architecture story and how KMD is redefining blockchain platform architecture.
  • #002 Infographic Link // Reddit Post Link by thesudio. We like that there is a clear structure and clear messaging aligned to each of the 5 pillars. However, the infographic should be focused on telling the architecture story vs the pillars.
  • #003 Infographic Link // Reddit Post Link by VolsenVols. Love how you’ve incorporated our existing graphic design elements into the infographic. This is heading in the right direction and the level of copy and content are well balanced. It would be nice to align this closer to the architecture story and to expand on the different layers of our technology using the same style.
  • #004 Infographic Link // Reddit Post Link by dexter_laabo. Needs to tell the architecture story. This looks more like it took information from our current website. “Anonymous” is not a key aspect of our technology that we’re focusing on.
  • #005 Infographic Link // Reddit Post Link by savandra. The visuals are strong but the narrative could be stronger. It would be nice to align this closer to the architecture story and to expand on the different layers of our technology using the same style.
  • #006 Infographic Link // Reddit Post Link by VolsenVols. Team prefers the other submission style in entry #003.
  • #007 Infographic Link // Reddit Post Link by cryptol1. Doesn’t depict the architecture narrative. Inaccurately describes cross-chain tech as “proprietary”. Simplification has the wrong messaging associated, should be white-label focused. This is considered more of a graphics versus an infographic. Needs to be more comprehensive.
  • #008 Infographic Link // Reddit Post Link by pacosenda. We like the unique design style and approach taken. Doesn’t follow the architecture narrative. Should be expanded out as it is a bit short on content with no clear flow or narrative.
  • #009 Infographic Link // Reddit Post Link by jeanetteLine. Great level of detail and thought on the layout and content. Doesn’t, however, cover the architecture story. Would be preferred if the design direction reflects interim colour and style vs. legacy KMD. The roadmap should be avoided. Looks like they borrowed more from the website than the guidelines.
  • #010 Infographic Link // Reddit Post Link by Meyse. Very creative way to explain and layout the content. This could be expanded out more to encompass the entire architecture story. Cross-chain verifications/smart contracts, blockchain bridging need to be incorporated in.
  • #011 Infographic Link // Reddit Post Link by Brenny431. Follows the 5 pillars versus the architecture story. Would prefer stronger visuals and design elements.
  • #012 Infographic Link // Reddit Post Link by ProofDraw. Design elements are good but need to follow architecture story versus 5 pillars.
  • #013 Infographic Link // Reddit Post Link by sayonara_girl. Needs to follow the architecture story.
  • #014 Infographic Link // Reddit Post Link by Limiter02. Good thought has gone into the copy, however, there’s way too much of it. Would prefer stronger visuals and utilizing a more visual storytelling approach. Doesn’t follow the architecture story. Remove the lizard.
  • #015 Infographic Link // Reddit Post Link by piptothemoon. Great thought into visually representing key points. Needs to be expanded out to incorporate the architecture story, but this is heading in the right direction from a visual storytelling POV.
  • #016 Infographic Link // Reddit Post Link by thecryptofoundation. Love the timeline approach, and mostly followed the guidelines and architecture story. Also, like the incorporation of accomplishments at the end. Would like to get the stock imagery used to reflect our interim colour palette. Not all visuals match what is being represented in the copy.
  • #017 Infographic Link // Reddit Post Link by jsteneros. As discussed in the Zoom call, this graphic is really solid but a little heavy on the copy. Would be good to see more visualizations of the info. This graphic hits on some of the important messages (e.g. Komodo is built differently from other blockchain platforms and solves many of the issues that first-gen platforms are struggling with) but it would be great if there was more information about Komodo’s architecture and how Komodo is different from other platforms.
  • #018 Infographic Link // Reddit Post Link by gravigocrypto. This one was also discussed in the Zoom call. Outstanding visuals and overall design. The info follows the architecture story well but could be stronger if the 3 layers of Komodo’s architecture were tied together into one, coherent visual. It’s a challenging task but that’s part of the contest : )
  • #019 Infographic Link // Reddit Post Link by PacoSenda. This is a really creative infographic, which is great! However, we’d really like to see the visuals a bit more in line with fonts and color palette described above in the “First Round of Feedback” section. Also, as with the feedback for many of the infographic submissions, sticking to the Komodo architecture story would be best.
  • #020 Infographic Link // Reddit Post Link by emmanmalaman. The visuals are pretty cool but this one misses most of our core messaging. It would be much stronger if it followed the architecture story and touched on the info provided in this post. There’s definitely potential here but it needs some work.
  • #021 Infographic Link // Reddit Post Link by immimidada. The colors and visuals here are spot-on. It’s also really great that it sets up the problem and then presents the Komodo solution. However, the problem and solution aren’t defined exactly the way we’d like. Check out the architecture narrative to learn more, and try to follow that story a bit more closely.
  • #022 Infographic Link // Reddit Post Link by mohitgfx3. This one is a bit heavy on the KMD logos. We’re really hoping to see a visualization of Komodo’s infrastructure architecture. As with the feedback for many of the infographics, it would be best to re-read Komodo’s architecture story and try to stick to that as much as possible. Using images from the current website is also not a great approach, as we’re preparing to launch a new site in the coming months.
  • #023 Infographic Link // Reddit Post Link by u/sayonara_girl. Some of the visuals are cool! It’s missing the narrative we’re looking for. In general, less copy and more visual storytelling would improve this graphic a lot. We’d like to see a smooth, linear flow of information. Take another look at the architecture story and try to follow that narrative.
  • #024 Infographic Link // Reddit Post Link by brunopugens. This one follows the narrative well! But it’s a little heavy on the copy. It would be much stronger if the architecture was displayed visually, rather than explained with text. Also, the design is cool but it’s difficult to read b/c the perspective of the text is skewed. It’s a really cool idea but might be better to put the text flat for the sake of readability and clarity.

We hosted a round of live feedback sessions via Zoom. The recording is here:

https://soundcloud.com/blockchainists/zoom-call-first-round-of-feedback-for-komodos-infographic-contest#t=3:50

Timeline

The first block in the KMD blockchain was mined just under two years ago, on September 13, 2016 to 9:04 PM. Since then, Komodo has demonstrated a commitment to innovation and established a history of execution.
  • February 21, 2016 — The vision for Komodo Platform is born with jl777’s Declaration of Independence.
  • September 13, 2016 — The first block in the KMD chain is mined.
  • October 15, 2016 — Komodo’s initial coin offering (ICO) is launched.
  • November 20, 2016 — Komodo’s ICO comes to a close with a total of 2,639 BTC raised.
  • January 2017 — The Komodo Mainnet is launched, complete with independent assetchains and delayed Proof of Work security.
  • January 31, 2017 — The KMD coins purchased in the ICO are issued.
  • March 2017 — Komodo’s development team develops one of the first atomic swap protocols.
  • July 2017 — Thousands of atomic swaps are made in a public, observable setting.
  • August 2017 — Private, zero-knowledge trades made possible with Jumblr, Komodo’s native shuffler.
  • October 2017 — Komodo develops a way to make atomic swaps in SPV Mode (“Lite Mode”), thus eliminating the need for traders to download entire blockchains to do atomic swaps.
  • November 2017 — First GUI for Komodo’s atomic-swap-powered decentralized exchange (DEX) is released, making atomic swap trading more accessible than ever before.
  • January 2018 — The mobile version of Agama wallet is released.
  • February 2018 — A public stress test allows 13,900 atomic swaps in a 48 hour period.
  • March 2018Komodo bridges the gap between Bitcoin-protocol-based coins and Ethereum-based ERC-20 tokens, providing support for 95% of coins and tokens in existence.
  • March 2018 — Komodo holds its second annual Notary Node Elections.
  • May 2018 — The world’s first decentralized ICO is held on Komodo Platform.
  • June 2018 — The alpha release of HyperDEX, a new GUI for Komodo’s decentralized exchange, is launched.
  • July 2018 — Komodo enters a partnership with Netcoins, making KMD coins available for purchase with fiat currencies at over 21,000 locations across three continents.
  • July 2018 — Komodo announces the 5 Pillars of Blockchain technology and begins introducing some Komodo 2.0 technology features, like Federated Multi-Chain Syncing and Cross-Chain Smart Contracts.
  • August 2018 — Komodo takes two big steps towards mass adoption, announces a collaboration with Ideas By Nature, an industry-leading blockchain agency, and releases a full briefing on the development on UTXO-based smart contracts.

Achievements

  • Cryptomiso.com is a website that ranks 866 different blockchain projects according to the Github commit history of that project’s most popular repo. Komodo is ranked #1 overall for Github commits over the last 12 months.
  • China's Ministry Research Initiative regularly ranks Komodo in the top 10.
  • Binance CEO highlights Komodo (see this Five Bullet Friday edition for more info).

If you would like to update your post, please edit and add to the post so people can see the different iterations. Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.

submitted by benohanlon to komodoplatform [link] [comments]

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Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators It is reasonable to assume that bitcoin shopping rewards work more like a rebate or a cash back. Gold, Silver, Crude Oil, Natural Gas, Corn, Bitcoin; Bonds. Major 10Y; Americas; Europe; Asia; Pacific; Middle East; Africa. US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y. Scripts. Editors' picks; Oscillators. Relative Strength Index (RSI) Average Directional Index (ADX) Stochastic Oscillator; Chande Momentum Oscillator (CMO) True Strength Index (TSI) Ultimate Oscillator ... Bitcoin cash users now have another venue to earn interest on their digital asset holdings. Binance has added support for BCH flexible deposits on its lending platform, alongside ETH and EOS.This ... Bitcoin surged over $4,000 but has since sunk back to its current price of $3,929. However, when it comes to Binance, the cryptocurrency boom seems to be well and truly alive. Binance is the biggest exchange for crypto and digital assets by trading volume and their cryptocurrency, Binance Coin is one of the hottest coins in the space right now ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America. Bitcoin-Fonds – Welche gibt es ? TOBAM hat beispielsweie einen europäischen Bitcoin Fond mit ansprechenden Shares Outstanding (Quantum ausgegebenen Aktien multipliziert mit dem Kurs der Aktien) auf den Plan gerufen gebracht.Sie bieten ihren Nutzern innovative Möglichkeiten zur Anlage, für eine geringe Jahresgebühr. Upon payment of all outstanding charges to Binance (if any), Users will have 5 business days to withdraw all Digital Assets or funds from the account. 4. Remaining Funds After Binance Account Termination Due to Fraud, Violation of Law, or Violation of These Terms. Binance maintains full custody of the Digital Assets, funds and User data/information which may be turned over to governmental ... Only one major cryptocurrency has outperformed industry bellwether Bitcoin this year -- the namesake token from the contentious exchange Binance Holdings. Binance, the world’s largest digital asset exchange, notes that cryptocurrency markets took a major hit in September 2020 as Bitcoin (BTC) and Ethereum (ETH) recorded their first down month ...

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Como comprar BITCOIN y otras CRIPTOMONEDAS en BINANCE 2020 ...

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