It seems to be a good time for an update on Magnetwork developments lately. As most of the MAG users know by now – our main focus has been Magnet Marketplace to bring more utility and attention to our network.

Currently we are close to finishing the first version of front-end development which is the smaller portion of the whole work needed before we can open the marketplace. When front part of the site is finished, we will start with back-end service integration.

Now a bit more in detail what integrated services has been in the talks.

Essentially anyone will be able to sell their items on magnet.market. For example if you are a digital painter with a huge body of work over the years, you can list all your digital paintings for sale on the marketplace without a middleman. All the sales are going directly to your wallet that only seller has access to. You can also anytime delete the listings or change their price if you choose to do so.

At first we are going to open the marketplace up only for digital items, but in time we are looking to add physical item listings as well as the freelance service listings for creators. While smaller purchases do not have much risk involved for the buyer, that is not the case when dealing with real world items that cost a lot. We looking to make those purchases safer through MAG collateral seal/badge that is available for Magnet Merchants to add to their profile. For example if the merchant deposits 100 000 MAG for their seller collateral, a badge would be added to their listings for that amount. This means if the merchant fails to deliver their goods, magnet.market can resolve the issue for the buyer, using the MAG collateral that was set up by the seller. Same collateral system can be expanded upon to provide escrow service or to make your merchant profile more trustworthy when selling your skills as a freelancer.

Right now MAG can be used to make in-app purchases on Litemint ( by Litemint LLC ) and whenever a purchase is made using any currency listed on Stellar Network besides MAG to buy from a merchant who listed their items against MAG, Stellar Network path payment converts the asset into MAG so the merchant collects their pay in preferred asset. That particular path payment transaction can be seen on the Stellar Network for additional exposure for MAG. With magnet.market, lot more transactions related to MAG network will be happening to bring more attention to our network and services.

All the basic services and listings will be free for marketplace users, but in time we will add premium paid services to cover the marketplace upkeep costs. For example users could showcase their listed items on the marketplace landing page for extra fee and have more eyes on their item to make the sale faster.

Probably most burning question on everyone’s mind about the marketplace is WHEN? This is hard to tell right now. We have moved opening date to Q4 of 2019 in the Roadmap section and we are working hard to meet that deadline.

RUSSIAN COMMUNITY LEADERS.

Last week we appointed new community leaders for russian speaking part of our community in Discord. Their function is to bring news from us to the people in their community who do not speak english and also to ask their questions from us. Users appointed as moderators are – JAɎMƵ #8950 and Aleksander #5915. Always be supportive of others – we are monitoring the russian channel to add more moderators!

WEEKLY MAG UPDATE 09/02/19

MAG TODAY

Our dev team focus is currently on the Litemint release for multiple platforms and Magnet Marketplace. In coming weeks we are putting out more information on both topic so make sure to check in for next weeklies.

Last week were were added to https://xbts.io/ decentralized exchange and currently we are in the talks for few more listing. More about on this in the coming weeks. There have been rumors about Cryptopia planning to open up to users soon, but at the time of hearing about it we did not find any official new to back up to this story.

COMMUNITY TWITTER
https://twitter.com/magnetc0mmunity/

After discussions in the Discord #community-team channel, we have decided to delegate the airdrop campaign running process to the community. Official dev team will be responsible for carrying out the transactions while the campaigns are run by community. Make sure to follow MAG Community Twitter for information about our chain, updates and more!

CLOSED SWAP PERIOD REWARDS


We collected around 1,8 million MAG during the closed swap period in staking and masternode rewards and exactly 1,837,843 MAG have been collected. We did set up a Discord channel (#afterswapvote) for voting on the percentage ratio between the MAGs we airdrop or keep for the network. We have closed the voting with a result that 20% of the collected rewards will be airdropped and 80% will be kept for the network for future budget.

LATE SWAP

We have closed the swap channel on Discord and started to give notice about stopping the support for the old chain in about 2 months. It will happen on 03.03.2019 and all funds on old chain will be locked. We will keep the swap coins on the new chain available and run the old chain if someone shows up with a significant amount of MAG or we decide to process all the late swap requests that we will still keep taking through the late swap tool (www.magnetwork.io/lateswap) after dropping the support for the old chain. With the number of MAGs currenty swapped, there is a chance we will never process any further requests after 03.03.2019 so LATE SWAP TODAY!

MAGNET UPDATE

Past week we had very first public community voice call that was a success. Next one is set to happen on Feb 9, 2019 @ 10AM EST on MAG Discord.

First of all — THANK YOU everyone who joined our very first LIVE VOICE community call. Special thanks to @JustCoinITWorldWide [a.k.a WorldWide] for orchestrating this with such brio and verve. The call lasted over 2 hours, but we have managed to elaborate many ideas and structure our actions moving forward.
 This call was a great opportunity to discover our community members. We acknowledge the importance of organizing such meetings to better share our vision for MAG as a community project. We also want to make this an opportunity to gather ideas, suggestions and feedback from everyone.

We discussed many points of which the following should be highlighted as the most important:
Philosophy. MAG broad vision and focus toward providing real-world utility through merchant services and upcoming marketplace while respecting crypto core values of decentralization.
 Airdrop Strategy. The necessity to create mechanisms for virtuous feedback loop while gaining exposure — as opposed to only focus on temporary hype. Making sure these airdrops are leveraged to create contributions to solidify and scale up the project.
 Marketplace. The upcoming marketplace and use cases. We discussed how real-world games could be used as a vector for such cases with measurable results on short term periods.
 Media and communication. We also identified a clear deficiency in this domain and started to elaborate plans to fill this void including the use/distribution of these voice call materials.

Additional projects have been discussed that could bring shareable content to social media and these projects will be discussed further in the next call (join freely!). Feel FREE to contribute your questions to #community-team channel on Discord for the next call, we will answer each of them.

We really appreciate the positive vibe that came out of this meeting. As mentioned above, the next call is scheduled on the Feb 9, 2019 @ 10AM EST and we really hope to see even more participants — you are ALL WELCOME!

MAG TODAY

Dev team focus for the coming week(s) will be on Litemint and MAG marketplaces. Today first MAG marketplace visual sketches came in for team discussion and next weekly update might bring more information on the topic. Litemint marketplace feature development is in full motion as well so make sure you are in the loop with everything — www.litemint.com

If You missed last weekly update with a more extensive summary on the current situation then read up now — https://magnetwork.io/weekly-mag-update-22-01-19-29-01-19/

COMMUNITY TWITTER

After discussions in the Discord #community-team channel, we have decided to delegate the airdrop campaign running process to the community. First of them was already launched — https://twitter.com/magnetc0mmunity/status/1090234447239233536 Official dev team will still be responsible for carrying out the transactions. Make sure to follow MAG Community Twitter for information about our chain, updates and more!

CLOSED SWAP PERIOD REWARDS

We collected around 1,8 million MAG during the closed swap period in staking and masternode rewards. and exactly 1,837,843 MAG have been collected to date. We have started the airdrops and have given away 62900 MAG in twitter campaigns to bring exposure for the chain. We have set up a Discord channel (#afterswapvote) for voting on the percentage ratio between the MAGs we airdrop or keep for the network. We keep it open for few weeks, so be sure to check in our Discord and cast your vote!

LATE SWAP

We have closed the swap channel on Discord and started to give notice about stopping the support for the old chain in about 2 months. It will happen on 03.03.2019 and all funds on old chain will be locked. We will keep the swap coins on the new chain available and run the old chain if someone shows up with a significant amount of MAG or we decide to process all the late swap requests that we will still keep taking through the late swap tool (www.magnetwork.io/lateswap) after dropping the support for the old chain. With the number of MAGs currently swapped, there is a chance we will never process any further requests after 03.03.2019 so LATE SWAP TODAY!

Full news here: https://medium.com/@magnetwork/weekly-mag-update-29-01-19-05-02-19-b6486250115b

Hello ! www.elicensey.com is a freshly open website where we sell licenses for the most popular games - Steam, Uplay, Origin, Xbox, PS4 and others at much lower prices than the market.
 
Currently, we just added CRYPTOCURRENCIES as a payment option!

PS: We have additional discounts on the first orders, and further details are available at www.elicensey.com.

In short time we will make a giveaway .

Have a nice day!

For any questions, we are at your disposal.

Dearfully,
Adrian

Hello ! www.elicensey.com is a freshly open website where we sell licenses for the most popular games - Steam, Uplay, Origin, Xbox, PS4 and others at much lower prices than the market.
 
Currently, we just added CRYPTOCURRENCIES as a payment option!

PS: We have additional discounts on the first orders, and further details are available at www.elicensey.com.

In short time we will make a giveaway .

Have a nice day!

For any questions, we are at your disposal.

Dearfully,
Adrian

Hello, the discord invite expired. Can you put a new link of discord without expire time?

Hey,

Do you think this coin will even rise again from 1 sat? I think they have a good community that won't let this coin to die.

Do you recommend buying B3 atm?

From here I think we have just 2 possibilities:

1)People who filled their bag at 1sat would be very rich. (No, I didn't had balls to buy at 1 sat)
2) They will lose all money which they invested.

And I think this coin will rise again in few week.

Ma interesează sa cumpăr. Vinde cineva?

Salut,

Face cineva mining pe XVG in momentul asta?

ATH in this year was like 0.91$, now is at bottom... So, I hope it will be good soon.

The trend is very downfall, I trust this project, but atm the price is going down... Why the price is falling? I really don't have arguments, but how do you think LBRY will make out in the next months?
Is this a good moment to buy? I'm sure in december the price will increase, but I don't know how much the price will increase. I hope it will surpass the highest price of this year.

What do you think?

The way things are going, who knows?

But I bought some more XVG today, at 150 so I am in for the long haul. Verge is on the VERGE!

Going to have a slight delay due to the moronic JPMorgan President Cracking on Bitcoin!
Shame on him! Watch he will probably be buying some Bitcoin when the price bottoms out!

Hopefully Verge can fire the thrusters and shoot the moon... it's time to breakout.

Do you think Verge can go upward? I saw their whitepaper and it's looking very promising.

Hello,

I want to make a new portofolio. I have 10k EUR and I don't know what crypto to get in my portofolio. I want only altcoins, but I want a rise with minimum 2x until December.
What do you think?

Thanks,
Adrian

I'm waiting

What's about LBRY Credits and NEO?

In how much time ATH?

Again lbry is dead? When will be the lbry awakening?

What's happening again with Lbry?

And how you got this number?