Bitcoin Forum

Is there airdrop of this ?

That was a pretty good first question appear here, stablecoin' airdrop. I'm also waiting for the answer  ;D

Is there no white paper yet?

It is impossible to make any airdrop while there is no hard fork planned anyway what would you do if they give you  1:1 in stable coin? So how many Bitcoins you have?

I think you need good web representation and presentations as well. Contact me if I'm right.

That was what I mean   ;D


I don't have any, atm  :'(


Let me think for a while!
I'm getting BCH before, but I forget what I'm doing at the time

Hi! Whitepaper will go out shortly. The team is currently working on launching the test net right now.

At this moment there are no airdrops planned. But stay tunned because there might be in the future.

Yes, I've been checking it on the web, and I get the same answer as yours.


Sound good   :D

I just curious about this, as per information on your web, it said moc would use as an incentive for those who run moc nodes. So, my stupid question is, how is the models will be? are this will be similar to staking or master node that needs collateral to run the node? or?

Is this going to be one more ICO project offering stability?

I will follow up this project and see how it goes, I can only wish the team a good success. Another project has a similar mode the USDQ Plantinum-QDAO. Technology is innovative and keeps evolving. 

Has it been sold-out at the second min you receive it? "Easy money" , right?


So, what's today update, Juan?

BTC collateralized and calling it a stablecoin? The logical inference would be BTC = Stablecoin.
Does not compute
BTC is a very volatile asset. How is an asset collateralized on it anyway remotely stable, unless you're using another asset to hedge against the volatility or you've got a perfectly, functional crystal ball

You're absolutely right! I super agree with you on that point.

So, this is what 'em say on their web:
-I'm just quoting the explanation on their web related to your above post-


Source: https://moneyonchain.com/solution/

Maybe.... Yes ;D


This project will provide 3 different tokens?
What about DEX and TEX? Does it mean the project will have its own exchange?

Bitpro, a token for risk-friendly Bitcoins hodlers seeking a passive income in BTC. is it mean this is for ppl who want to take a risk? then how to get passive income from this risk activities?

Hope this one can answer the question above:

am still a bit confused, it is a too short explanation for me, but it is better. I will wait for the written version.

What's confused you? Are you Spanish, gomeZ?
jk, I felt the same  ;D

What about my question? Is there any team member want to explain? Share a video or something, please!  :'(

Thanks for your question, I am Max, cofounder of MoneyOnChain

According to their white paper the model of QDAO is the same as maker DAO, we have a different model. One of the main differences is that in our model the peg is guaranteed by the smart contract.

Another difference is that we have different actors with different needs interacting in the ecosystem.

For example,

Alice is a long term bitcoin holder willing to earn a passive income  in her bitcoins, so she buys the BitPRO, the BitPRO gives Alice a passive income in her bitcoins and a little bit of leverage, that means that in the long term, when the price of bitcoin goes UP Alice will have more Bitcoins.

Bob Needs a fix amount of USD to buy a new car next month, so Bob sends the equivalent amount of usd in bitcoin to the smart contract to buy the stable coin. He does not need to put any collateral, he simply sends the amount of dollars in bitcoins he needs to the smart contract and gets  that amount in DOC, (Dollar on Chain) our first stable asset.

Dave is a trader, he thinks the price of bitcoin will go UP, so he buys a leveraged long position using the platform and pays an interest for that leverage

So now Dave is assuming most of the risk, Alice is earning the interest that Dave pays and Bob has the stability provided by the system

In the following weeks we are going to open our first alfa product on the RSK testnet

Stay tunned

We use over collateralization to maintain the peg, the whole solution is implemented in a smart contract, so there is no counterpart risk

We are going to publish our white paper and Alfa product on the test net in the following weeks, the mathematical model behind MoneyOnChain is complex and not so easy to understand. Said that, the features of the products are crystal clear and the platform very very easy to use.

DOC: Dollar on chain, usd pegged coin backed by bitcoin, the peg is guaranteed by the smart contract
BitPro: A token for bitcoin Holders, it provides passive income and a little bit of leverage on your bitcoins
BTCX: A leveraged long position on the price of bitcoin. (only 2x leverage in the alfa version)

The full version will have BTCX long and short leveraged position on the price of bitcoin at any leverage  you choose (logic limits will exist) increasing the passive income for the BitPro holders.   
 

thanks for the explanation. but, how about to make some illustration graphic on the whitepaper, it will make it more easy to understand.

waiting for the whitepaper

Yes, info-graphic is a good idea to explain it in a simple way (even though max said that the process is kinda complex). The message will be sent to the team though so maybe, they'll create one for the public.

that is good sir

is this project will have any bounty program in this near future?

Yes sir yes  ;D
Ye ye ye, please create it one for us to make this complex thing more understandable.

Is there any updated info for the test-net, by the way?
Then, do we have the full model on the test-net?

in my opinion, an animated infographic would be better. it will be more clearly than just an image.

This one?
https://www.youtube.com/watch?v=aGkFOIYev0M

---

The keyword of the explanation above is: (IMO)


All that thing are related (bolded one), bundled on the system (in this case - smart contract - RSK), That's why they have something that called as "Target Group," Each group will related and complete other group needs. CMIIW

Source: https://moneyonchain.com/solution/

yes, something like that. i do not realize it exists on their web, thanks for sharing it also for your explanation.

If the coin collateralized with btc, it can not refer to stablecoin since btc price is not stable..that is simple.

My pleasure!
I'm so lucky 'cause I find that video right on the main page of their web.



We're talkin' about a system.
Where a few things bundled on the platform...

Their first Stablecoin is Dollar on Chain (DoC), where the price will peg to the US Dollar... ;)

Sounds like another Rube Goldberg contraption.
So, for the risk-averse, they have the option to peg this BTC-collaterized stablecoin to another stable coin called DOC, while the adventurous are just sticking to BTC by another name, Bitpro. There are numerous stable coins to chose from already, what makes DOC any different?

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

What makes this DOC different from others?
As users, off course, my view wouldn't be much different as yours. Moreover, the platform doesn't exist, and we both don't test it yet. (-Even if I try to answer, it's just my own conclusion from what I've read-)

But at least, their CEO has been post some short explanation above your post, and off course, they have more info on their web. Unfortunately, their white-paper doesn't publish yet. Let's wait for the white-paper!

am not lucky enough to find it. i swear i open their web, as i say before i don't realize it he he

The explanation of the CEO by giving a simple example gives a notion that this platform might be worth watching for.
Hopefully, the actual scenario will be as simple as that. Because most of the time, there are so many factors in play when the project comes to life.
We can speculate if the project will going to hit it in the crypto community once we see their platform in operations.

Yeah, I hope so.
The smart contract did the whole complex process, and the platform gave us the rest (simplest things to do - click & click :D)

---

 https://i.imgur.com/S8OBg8D.png

Currently, there are also big competitors such as Paypal, Visa, Mastercard and some other credit businesses serving this. The big problem for them is that each exchange costs up to 6% or 7%.
The issue of cost is still one of the things that makes traders unwilling to trade on these platforms. So how will your project solve this fee problem to attract more customers?

 I'm not really sure about which part you were comparing...

---

 Maybe this is one of the solutions you are looking for, but that was not in general as a solution, it's more like a benefit, indeed.

Where is the answer for a newbie question? Are newbie allowed for ask here?

 Nah ^(*jk)  ;D

 Maybe they're quite busy at the moment, as they told before, they on Testnet preparation. But yes, it can't be a reason to ignore us here.
 So, where's the team?

The project is very nice, if understand correct you are part of the team or have any connection with them?

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

 I'm with you....  ;D

---

Hoping their next response will clarify these contradictions... not holding out hopes based on previous history though. I do know it's difficult to come up with new products in the blockchain industry that will turn heads. However, if it ain't broken and you're not improving on the existing, it sure does beg the question "why?".

Yes and no, we are have deployed the stable coin platform (functional) on the testnet but we are going to deploy the decentralized token exchange (probably) on november. The stable coin platform has the first version of our mathematical model but the governcance is still missing, moreover we have a lot of new exciting features that we are plannig to deploy next year.

---

Today we are fully centralized but as soon as we launch, the road to descentralization begins, our protocol eliminates the 3rd party risk asociated with UDSC, PAX, TUSD, DAI etc.

We are working to transfer The power to upgrade the smart contracts to the community not the fundation. As far as we know we are going to be the first DeFi with this characterist.

---

Why? because we are bitcoiners, and we need a stable coin that inherit BTC propeties like no counterparty risk and censorship resistance.

---

 We are glad to share access to MoneyOnChain platform in
@RSKsmart
 Testnet! 

 Check out what Money On Chain is https://youtu.be/3UrVZHh-L4w 

✅ Test our platform here https://moc-testnet.moneyonchain.com

Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view (https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view)

If in doubt, join our community on Telegram and ask: https://t.co/gsqvbpYnrO?amp=1 (https://t.co/gsqvbpYnrO?amp=1)

Whitepaper: https://t.co/m6yAY2gYtR?amp=1 (https://t.co/m6yAY2gYtR?amp=1)

Follow us on twitter! @moneyonchainok

 As I thought,


 I'll try to test it later today (I wish I have time for doing this)

---

 Finally.....

---

 Pretty good statement.

 So, let's see!
 Will MoC be "the real" decentralized finance platform?

Lots of stablecoin startup projects around. Mostly by big exchanges or blockchain projects. I kinda want to suggest the Mods create a sub grouo for stable coin discussions.
Btw I’ll like OP to post a lot more information about Money On Chain. That should be the reason for this sub. I’ll like to read your white paper, find out how different you really are.

More information will be added, of course, once its available. And I'm sure that the team will ask me to update it sometimes in the future.

According to their website, the whitepaper will be published before main net release on 2019 Q4.
There is a form on the website which you can fill it to receive the whitepaper immediately after it is published. 

 You're so lucky, White-paper been posted here by the CEO.... ;D  👇

So, why the website says that the whitepaper has not published yet?
Here is what is written on Moneychain official website.
"We will publish the project whitepaper closer to the main-net release estimated for 2019Q4."

Whenever the official whitepaper is published they will likely ask Sapta to add that to the OP.

 Tha's why I said you (-we-) are lucky enough to be here, while even their web doesn't update yet...

---

 The link above is: [Technical whitepaper — release 2 — revision 4] September 19, 2019
 (Written by Maximiliano Carjuzaa and Alejandro Bokser with the collaboration of Javier García Sanchez)

 And the one who posts the link here on this forum is one of its writer [Maximiliano Carjuzaa / maxcarjuzaa - MoneyOnChain's Co-Founder]

 I'm not saying this is the official one, but it's enough for us to know more about the project...Isn't it?

keep

 What you've been keeping?  ???

---

 So, today I look around MoC's Testnet (I'm not doing in-depth test yet),  
 here's a few MoC's platform view:

	https://i.imgur.com/QjqdU6G.png	https://i.imgur.com/pZ00yRL.png
	https://i.imgur.com/lCRxzvA.png

---

 We'll need Metamask for login to the platform,
 but don't forget to check the instruction (how to do it) - this one! (Read it! - Trust Me!)  ;D

i try to login using metamask, but there is something error appear, no connection, what am missing here?

 I told you... :P


 You'll need to create custom RPC on your Metamask...
 Read the instructions!!!

The way is looks so long down, it does cause a little laziness, but the instructions are made very easy to understand. And also that picture are really help and motivates. :D

 Yeah, indeed...  :D
 It's 15 pages only, and 87.54% of the contents are instructions in the form of images,
 I think it'll be so much different from 15-pages textual-instructions.

When will the team publish the whitepaper? That's one of the things that people look for tbh

 https://moneyonchain.com/whitepaper/

 Nor ----------------------------------------

got it, thanks for your advice, next time i will read the instructions first  ;D

Thanks for sharing, it's good to see that there's even an 'Executive Summary' and not just the Whitepaper. Most projects don't even bother making one at all.

 My pleasure!


 It may indicate something in the future, let's see!

---

 Cool....  ;)

Seriously? I didn't get any answer to my question? Ok team, just forget my question, I'll try to find it myself on your Testnet.

what your question is? maybe they do not realize you ask them.

Your question posted on page one, I think they didn't realize it. Let's quote your question here. Let's hope they'll realize it now.

@Dev, Did you have some plan to answer this question?  ;D

 I'm not sure how's the mechanism will be (in detail).
 But, this is the simple illustration of -how this ecosystem will work-

 https://i.imgur.com/avYQ8i3.png

 Source: https://drive.google.com/file/d/1g9LgMN9CfXbFiGZXV4aZ8MyYwRu4YUKp/view

Are you part of the team of this project? If it yes, answering my ignored question will be better than just share that video.

Hi KalacC! Thanks for the interest ;)


Yes, you will need to stake MoCs tokens to run a node (you could also stake your MoC in a node that someone else is running, without risking your tokens). For this service, the MoC Protocol will share fees that users pay. Nodes will be implemented next year.  :D

For me, this is the best thing this project provides, stacking coins wheres we have a stable coin on it. What's better?
Next year is just a few months in front.

 You've got the answer,

---

@Maritu
 Could you please explain to us, how much MoC needs to stake as collateral to run the nodes?

 And what about this?

Yes, I got the answer, but now you have been ignored, just like me  ;D

 Yeah, maybe they've been busy at this moment. But still, ignoring us here isn't a good thing for whatever reason.

 Let's see how fast they're on Telegram Group!
 https://t.me/MoneyOnChainCommunity

This group isn't active much, but all admin has a fast response when people ask, I've been there for a month, maybe more.

 Are you just woke up?


 Hail Miners!


 Yeah, so sad.


 I don't know what to say, but at least I'd been comparing this project with others in many aspects, and you find me here.

 Have you read their White-paper?

 It's just my supports to the project.
 To be honest, I'm not accepted on that signature campaign (Since I'm never active in the gambling section)
 Should I change my signature with this project signature?  ;D

Please don't! they still ignored your question  ::)

 Of course, It's not free  ;) jk

It turns out quite boring to read a technical white paper  :(

 Even it's happened to a technical person for sure...
 What about to try this?

Yep, straight to practice, always be a good idea.
K, I'll try it later.

 Always,
 So, what the result? I mean, what you think about the project?

I don't test it yet. Why don't you share your experience, U've been testing it, don't you?

 Yeah, of course.
 I've been testing it myself before, and also posted here.

I like this one, when you made some proposals, please tell them, this also should be applied to Jr member  :D  :D

when airdrop or bounty?

 I will,
 if I remember to do it.


 Tomorrow morning ^[jk]

A bit busy with everything in a real-life, I'll test it this weekend, I swear  ;D


Agree!  ;)

 Have you been done with the test?

---

 @MoC-Team
 So, what new here?
 Your social media are active enough, but it doesn't happen to this thread.

This looks like a staking process. You could take the risk and stake your bitcoin on Bitpro. You receive rewards while Bitpro tokens get backed by bitcoin. Is there a process to ascertain how much bitcoin has been staked? How how of your tokens would be backed by BTC and how can users tell?

 https://i.imgur.com/S8OBg8D.png

If this is a stablecoin and pegged to Bitcoin, how many bitcoins will you be holding in collateral and at what rate will the coins be exchangeable for Bitcoin? Where will you keep the bitcoins and who will be controlling it? Where will the bitcoins collateral come from?

I'm so sorry, I really busy these last few weeks. So, I'm not testing it yet. I'll check it when I get free time.  ;D

MoC has allocated up to 0.9 WBTC for those who identify significant security issues in Money On Chain Protocol 0.1 Background.

Looking forward to the community's help.

More info here: https://gitcoin.co/issue/money-on-chain/main-RBTC-contract/1/3726

Great question but I don't think the team will answer this important question. Actually, it is very easy to answer if they do have that amount of bitcoin as collateral. By the way, USDT project admitted before they don't have that amount of dollars as what it should have been. So it is only a matter of time when will they give the true statement regarding their assets.

Hi, sorry, the team had been super busy with launch on Mainnet. The DOC is a Stablecoin that is not pegged to bitcoin, it is pegged to the USD price. The smartcontract exchanges the DOC for the amount of RBTC at current rate (1 DOC= 1 USD). The SmartBitcoins (RBTC) are in a SmartContract. The control of the Smart Contract will be held by MOC token holders (that is something we are still building). The bitcoins in the collateral come from Bitcoin holders that want to earn a passive income and get a free leverage (buying BPRO for that).

Regarding the collateral info, you can review all metrics in the platform, and also look for the info in https://explorer.rsk.co/

There is a group in telegram you can join also for more info: https://t.me/MoneyOnChainCommunity

Today brasilian users have been experiencing some issues with their connection to the Mainnet, due to a problem with the country's internet service.

Even though it has been fixed, if you experience any issue please let us know!

Money On Chain and RSK hosted a workshop about DeFi a few days ago.

Here are some words from IOV Labs CEO Diego G. Záldivar at the end of the workshop

▶️ https://youtu.be/oC-gJHURcx4  (https://youtu.be/oC-gJHURcx4)

Interesting to have a DeFi that spearheading RSK . And there are few enthusiasts knowingly how big potential it is with MoneyOnChain. Any moderator from the group that might interact?