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Registered an NXT alias to generate a more secure key for the NXT receivership wallet. Thanks to the person who gave us notice.
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Hi HongKong, Did you not receive a double payment last week? In any case I will look into this.
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Great! Thanks to all translators. You rock!  In the past weeks we've been working out administrative details for the currently signed up crowdfunding participants. I've just returned from Asia, and we will be designing the next stage of marketing together with the team. All community ideas for this are welcome! |
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Hi @miramare, please send me a PM with your TXID, so I can check how the form processed your transaction.
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Good job @Polypanto. Paid you also for last week. Sorry this slipped the radar. All translators have been paid. Thanks again for your work! |
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Indeed the TXID is the transaction ID of your sent amount. |
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You see that right. We will put in more marketing after the 24th of April, so we can focus on administrative tasks right now. |
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Had a meeting and conversation in Singapore with one of the founders of DigixDAO. Nice to see an active community there. |
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Had a meeting and conversation in Singapore with one of the founders of DigixDAO. Nice to see an active community there. |
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Hello S'pore Crypto community! 4, 5 and 6th of April I will be in Singapore. I'd like to meet up somewhere to get to know crypto enthousiasts here. Anyone up for this? Let me know! Greetings, Agent725 founder Internet of Coins https://coinstorm.net |
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Hello Thai Crypto community! On 7 April I will be in Bangkok to celebrate Coinfest. http://www.coinfest.orgWould you like to meet up somewhere? Let me know!  Greetings, Agent725 - founder Internet of Coins https://coinstorm.net/// สวัสดีชุมชน Crypto ไทย! เมื่อวันที่ 7 เมษายนที่ผ่านมาฉันจะมาที่กรุงเทพเพื่อเฉลิมฉลอง Coinfest http://www.coinfest.orgคุณต้องการพบที่ไหนสักแห่ง? แจ้งให้เราทราบ! ทักทาย, Agent725 - ผู้ก่อตั้ง Internet of Coins https://coinstorm.net(ขอโทษสำหรับ Google Translate) |
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Q: So this is what I understand, and please correct me if it's off: it seems to me that when the allocator fee is included, the exchange rate need not be 1:1 for hybrid living on different chains. It's (1+fee1 : 1+fee2), which amounts to a floating exchange rate set by market forces. This makes economic sens as a way liquidity can be provided, but also means that the hybrid on each chain are effectively different currencies, in the sense that they would be priced separately on any std exchange (e.g. Poloniex), and there's no reason their prices would need to be close to the same as one another.
I see that this arbitrage could exist (and hence correct for) price mismatches between Hybrid(XCP) vs Hybrid(ETH) as existing via IOC swap vs as implied by those prices and the ETH:XCP prices on exchanges. What I don't see is that this forces the price of Hybrid(XCP) : Hybrid(ETH) to stay close to 1. I.e. as long as prices are consistent (but possibly different from 1) then no arbitrage will be possible. The price would have to be close to 1 if the IoC coinswap could guarantee liquidity at that price, but again I dont see how it could do that without market-based fees, which effectively is equivalent to a floating price, not a fixed price of 1.
There is a slight float. Our system creates the orderbooks automatically, and keeps prices as close to 1:1 as possible, and limits the possibility to go too far beyond that. For that we are using a covariance algorithm to predict differences in the portfolio of HYBRID's users are holding. We will be going towards using Nash's equilibrium with our mathematician to put a more advanced prediction model into the balancing algorithm.
Q: Hence this is a potential source of inflation for hybrid holders, yes? I.e. if you increase the hybrid supply to add a new coin and make that hybrid exchangeable wrt the existing hybrid.
Without funding the new emission it is an inflation. We will not add non-funded emissions to HYBRID, however, so technically it is not an inflation in that it decreases vested token value.
Q: WIthout issuing new tokens, this would be inflation-free
That is correct.
Q: My question was aiming at something different. Im not concerned with the gap between the max of 900k tokens sold per chain and the remaining 100k, which are to be issued over the next few years. I'm concerned with e.g. if e.g. only 9k tokens are sold for e.g. NXT. Then are you only going to issue 9k (10k) hybrid on NXT, or will you issue 900k (1M), in which case how will those extra tokens be distributed? That's a major inflationary concern at the moment, since only ~215k hybrid have been sold out of a possible 6.3M (7M)
A proper concern, and something we are also looking at. We'd like to see the amounts of HYBRID on different chains to be synchronous as planned originally, i.e. 1M per chain. In this first emission of HYBRID, it could be that not all tokens are sold, and for this situation we are thinking of distributing the rest of the tokens among current HYBRID holders, so everyone receives the adequate percentage belonging to his/her participation in the marketcap the crowdfund has created.
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Answers to @Winslow's questions:
Q: How can a 1:1 swap be enforced AND liquidity be maintained? If the market were to net want to swap hybrid on one chain for another, and the exchange rate of 1:1 is imposed, where does the liquidity come from so that all those who want to swap can swap?
We create liquidity on 1:1 swaps by letting allocators earn a fee on every swarm transaction they are part of. So technically this makes a swap 1:0.99 for a user switching chains, with 0.01 going to the allocator swarm. We want to make sure swapping chains is always done for a reason, and supports the network. Bitcoin transactions work in a similar way, and also have a fee.
Q: What are the specific trades that can be made to instantiate the arbitrage?
For arbitrage, a trader would have to make use of an exchange in combination with Internet of Coins swaps. For instance, to arbitrage on HYBRID part ETH vs XCP, the traders sells HYBRID for ETH on EtherDelta, sends that to an exchange (centralized or decentralized), and trades it for XCP there. Then the trader sends it to the CounterParty DEX and buys HYBRID. The circle is complete. However, this will only be done in case of large price imbalance between chains. Otherwise, the arbitrage trader cannot make profit on this.
Q: How many HYBRID tokens will be added per new crypto? If any, how are they to be sold and to whom do the revenues from the sales go? Or maybe you mean no new HYBRID tokens will be issued, i.e. there will always be 7M? But then how would other chains be included within IOC's weave-based DEX?
We don't just add HYBRID to every crypto. We add the chain system that have their own token/asset system. Per system this would be 1M tokens. We would make these fungible either by proof-of-burn or organizing a sale. Any additional proceeds would go to the NLnet foundation to make sure they are used for further development.
For a lot of cryptocurrencies, however, we can use methods next to HYBRID for swaps, like for example atomic transactions.
Q: What happens if less than 900k tokens are sold on a chain? Are 1M still issued, and if so how are they allocated?
Most likely we would issue the last 100k by finding someone willing to fund them, or emit them in a slow sale. We will vote on that when we add another chain system.
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Hi all, Posted a PM to @goinmerry about the campaign pause. We do expect to be back within a few weeks for continuation. When that time comes we will be looking improvements. If you are a good signature designer, please send me an example of work you've done for another campaign. Thanks to all for your support! Agent725 |
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Hi all, Payments have been sent. Thanks to all for your patience! @goinmerry: You've managed this great once again. We'll certainly keep working with you! Regards, Agent725 |
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In that case contact us via our contact form with the details of your transaction, and we will check your signup and send you another confirmation.
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We should add all this to the FAQ.
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Haha, not for the wooden enclosure. But of course the chips and electronics are not hand-made by ourselves. |
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