If you aren't using atomic trading how can you possibly claim decentralized exchange? Otherwise parties can just double spend. There was no mention of double spend or atomic trade in the whitepaper please explain. Users can double spend by simply mining their own transactions. If you use an escrow account then it is not decentralized either because that allows a 2 of 3 collusion attack. And 2 of 2 accounts require microtrading. What protocol is being proposed here?
Thank you for this interesting question, i hope the answer will satisfy your demand. The validator will be hosted on a decentralized distributed storage platform (SafeNetwork) which will provide a lot of possibilities to solve issues related to live and offline trading. As an example, using multisignature addresses doesn't means centralizing the process as it will be done by a user and a decentralized process hosted into a decentralized ecosystem. As i said, it is just one of the many possible sollutions, as they are ranging from soft, to extreme degree. You can also check this link : https://en.bitcoin.it/wiki/Atomic_cross-chain_tradingThere is an interesting solution to the atomic trading issues you talked about. Rest assured that the team will never release a trading pair if they are not sure about the security of the process. "Apollo777": Correct.
1. How do you plan to distribute dividends on Bitcoin/Counterparty network ?
Think about it for a moment. Assume 10,000 investors, means that you will need to do 10k Bitcoin transactions (and pay $20,000; $2/tx) just to distribute the dividends.
...When each transactions costs $2.
Maybe it's smarter to find a way to do it without relying on over-crowded Bitcoin network ? (based on Ethereum or Ethereum classic, or some other network)
After all there is a good reason why StorJ coins migrated from Bitcoin/Counterparty to Ethereum.
2. Double-spend attacks that "dzimbeck" mentioned
Another way to double-spend Bitcoin is to use zero-confirmation RBF - Request-by-Fee (and send transaction to self with a higher fee).
Bitcoin miners will pick-up a tx with higher fee, even if arrived *later*.
How do you plan to deal with it ?
A safe BTC transaction requires 6 confirmations, but I don't see how-to achieve it in this case of decentralized exchange.
Thanks for the question. There is a section in the whitepaper who explains how this part will be handled, when you withdraw from poloniexw, or other similar services, they don't broadcast a trasaction right away. Instead, they group them, and send a single transaction. This is how the distribution is going to be processed and it can be done as long as the TX size is lower then the block size. From there, you can create a single transaction with several outputs and pay a marginal fee. This is one of the situations where the validator is handy, because he will ensure that you won't attempt to realise such operations, as he will check (several times) the informations sent by the users and process them in order to allow a trading, and the usage of multisignatures, smart contracts, LN channels would be also a part of the sollution. As i already sead, NVO doesn't want to compete against other decentralized exchanges, or centralized exchanges, NVO aims at using the technologies provided by the multiple blockchains to create an as safe as possible environment for trading, and to provide a multi crypto wallet with as much "functions" as possible while giving the possibility to its users to choose what function they want to include into their wallet. Is this project uncapped? So from my understanding, when the ICO closes, 15M tokens will be distributed based on the % of your contribution to the funding pool.
Yes the project is uncaped, and there is no price for the NVOTokens, at the end of the crowdsale, the contributions will be calculated and evaluated, every participant will receive a proportional amount of NVOT. |
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Hi! i send bitcoin from my btc-e.com account  will i have problem of reciving NVOT now  Why would you do something like that? Did you not read anything written on the website before investing You can't receive tokens if you've invested from an exchange, online service or similar. If you fail to resolve this with the team in time, you will lose your tokens. Join the Slack team. f*ck  No problem, we will be able to solve that after the crowdsale, can you please join slack, we are working on setting up a process to sort these isssues. Hi,
When importing the NVOT private keys later on, what happens if also other bitcoins still at that address ?
So, should the address be empty (after sending the crowdsale portion out), or can it contain "other bitcoins" also ?
Thanks
Nothing will happen to your bitcoins as they are compliant with NVOT and counterparty assets, you will see both balances in the same address. I see this Project doesn't use regulary promotions to attract investors, hoping the NVO crowdsale will succeed soon
I do not know what type of regular promotion are you looking for but as of May 19, 2017, NVO has a signature campaign here in the forum. I believe that this is a regular type of promotion that undoubtedly attracts investors. Not just the advertisement via signature campaign but also the project itself attract investors. Just found a big banner on coinmarketcap. Check it out. Is that enough promotion for you? Yes, it is one of the project's promotions. |
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 Hello Team!  I am more or less with the same doubt, but in my case, I created a paper wallet normally and put it as the main address of ico. But I sent the investment fund from another portfolio, in this case the exchange portfolio. How do I get tokem payments at the end of the sale? Hello, thanks for your participation, you should join them on slack. The problem is that as you sent from an exchange, you won't be able to receive your coins, you hsould have sent from the paper wallet. Please join slack, they will help you with that. I'm not finding the way to your stack and support. How can I be solving this question, because I want to invest more, but with the fear of not receiving the ico. Could you give me the links to solve this question?  Please join slack here : https://nvoinvite.herokuapp.com/Or send an email to contact@nvo.io OR support@nvo.ioTell me if you need more. I see this Project doesn't use regulary promotions to attract investors, hoping the NVO crowdsale will succeed soon
Thanks for your support, effectively the project doesn't aim at collecting funds in the usual way, it is not about selling tokens, the teams wants to get participants who understands the exchange, and the features offered by the wallet as it is more interesting. NVO isn't selling its idea, they aim to create a community to launch its idea. Example: If a project releases a token with bonuses and other goodies, the investors will dump the coin because of the bonus system, as they would think it is free money, while in NVO, it won't happen this way. For me, this policy is really bad because it is made to get as much money as possible, while it is more interesting to bring a healthy ecosystem and community around the project, which will let NVO to be deployed smoothly. |
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There are many DEX, the coins and what is the difference?
Decentralized exchanges are needed, and it would be nice to see how they replacing Trex and Polo. Lauda as an escrow for this campaign : I love it. <3 I have to invest in it, because it will greatly improve the security of exchanging with decentralized funds. Yes indeed Lauda is scambuster and most trusted member of this forum, so if he is involved as escrow, then this project is to be trusted. Did anyone contact Lauda, minerjones or Blazed to verify? Lauda posted just above your post, i don't understand what you want to say, there are signed messages on the OP of blazed, minerjones and Lauda. Ok thanks, sorry what are signed messages? You should check this page : https://bitcoin.org/en/vocabulary#signatureThanks nemgun, will do.
You are welcome. |
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Hey guys, I'm new and I'm a participant in the crowdsale. I had a significant amount of MAID invested and I just deposited another large chunk. Now my balance says zero in the NVO site. I'm a bit concerned. Is this normal?
Thanks for your support and participation, as long as the explorer says that your investment is there, you have nothing to worry about, it is in the hands of coinpayments who escrows MAID. Can you please join the slack channel and contact @marto he will sort it out. I see my original balance on the Explorer . I think bittrex is just taking forever to confirm with the receiving address. I'll be patient, thank you. I'll be contributing at least ten thousand usd to your project. This is an interesting one. You have two solutions to solving the security issue with trading crypto, government oversight and control Or complete secure user control. You've chosen the latter. Feel free to contact us if you have any problem. There are many DEX, the coins and what is the difference?
This DEX is based on a decentralized network, actually most of the existing DEXs are on clearnet which means that it is semi-centralised in a way or another, while this one aims to be totally decentralized and automated. Most of the other DEXs use nodes on clearnet, NVO will be on safenet which is a decentralized network. This is a minimalistic description, please read the whitepaper. You then ask me more questions. There are many DEX, the coins and what is the difference?
What do you mean by the word DEX or you mean to say DEV ? People can answer your question correctly if they understand it. Hello, DEX means Decentralized EXchange. Can someone make a video how to invest in this I tried to read the instructions on the website and I"m not clear.
Can you please tell me where you got lost ? i would like to give you more guidance but i have to know where you are in the process. Can someone make a video how to invest in this I tried to read the instructions on the website and I"m not clear.
Yep, in his post he'll mention a counterparty wallet. You need to make this kind of wallet. Counterparty is the only kind of bitcoin wallet that can receive and store your nvot. No, CounterWallet will let you "see" your NVOT, you can receive them in any bitcoin address, that's why people don't have to send from Exchanges or Web Wallets or Third parties as they will be stuck there ! hello, slack team, I am member of nvo.io....I had sent my funds to nvo.io through bitcoin escrow btc wallet. But in my personal bitcoin wallet address I had entered and saved my XAPO wallet address,instead of entering a paper based btc wallet with having its private key in my own possession.So now I cant not change my btc wallet address....as I want to change it and enter there and save the a bitcoin wallet address with having private key,,,which in the case of XAPO wallet address I don't have its private keys.....so please guide me in this regard. and my other question is as I had sent my funds to buy nvo.io token through bitcoin escrow address....how I will be receiving my nvo.io tokens....as on my dashboard I am not seeing any kind of record or transaction history...which gives me satisfaction that the amount which I sent on that bitcoin escrow wallet address in reached to nvo.io and it will be credited to my dashboard and consequently I will receive my nvo.io tokens against that funded amount....and when the token will be distributed? please waiting for the replies to my questions.thank you Thanks for your participation, can you please join slack ? or PM me ? i will guide you on how to change the address. The dashboard isn't linked to any blockchain, it is here just to display informations, in order to be sure that your funds have been received, just check your transaction ID. Token distribution informations can be found on the dashboard, just below the bitcoin address submit button. Hello Team! I am more or less with the same doubt, but in my case, I created a paper wallet normally and put it as the main address of ico. But I sent the investment fund from another portfolio, in this case the exchange portfolio. How do I get tokem payments at the end of the sale? Hello, thanks for your participation, you should join them on slack. The problem is that as you sent from an exchange, you won't be able to receive your coins, you hsould have sent from the paper wallet. Please join slack, they will help you with that. Weird thing happened to me today. When I try to go to the website, McAfee WebAdvisor advisory giving me warnings about https://nvo.io. I don't have any issues before so I was surprised to see it today. Is it just me or others have experience it as well? Thanks, we will investigate the issue, but i don't think it is general. I just logged into nvo to see if my maid balance updated and it days api access banned for abuse. Please throttle your requests.
Yes, API limitatins, actually MAID is the last currency missing in the API documentation, the team is working on it. Will this work with a Mulitibit address?
You should avoid multibit because they don't provide you the Private key of your addresses, instead, you should use Copay, Exodus, Jaxx, CounterWallet, coinb.in, walletgenerators, bitaddress. |
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There are many DEX, the coins and what is the difference?
Decentralized exchanges are needed, and it would be nice to see how they replacing Trex and Polo. Lauda as an escrow for this campaign : I love it. <3 I have to invest in it, because it will greatly improve the security of exchanging with decentralized funds. Yes indeed Lauda is scambuster and most trusted member of this forum, so if he is involved as escrow, then this project is to be trusted. Did anyone contact Lauda, minerjones or Blazed to verify? Lauda posted just above your post, i don't understand what you want to say, there are signed messages on the OP of blazed, minerjones and Lauda. |
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Hey guys, I'm new and I'm a participant in the crowdsale. I had a significant amount of MAID invested and I just deposited another large chunk. Now my balance says zero in the NVO site. I'm a bit concerned. Is this normal?
Thanks for your support and participation, as long as the explorer says that your investment is there, you have nothing to worry about, it is in the hands of coinpayments who escrows MAID. Can you please join the slack channel and contact @marto he will sort it out. |
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Oh personally, you know each other? It was nice to see that you guys goes back a long way. Looks like though investors wanna see who Yani really is specially about his portfolio's.
Yani doesn't use to work on open source projects, he usually work for professionals or individuals, and mostly with NDA. He is the kind of dev who works to earn his life, not to get fame. |
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Yanni Bragui - Lead Developer and CTO
14 years of experience in software engineering. Software developer for ERMA , the biggest research center in africa for light and street light. Previous head of development for Veserus, a fully licensed cryptocurrencies exchange. I tried to verify this but neither did I find ERMA, nor anything whatsoever about Yanni Bragui. His linkedin profile does not exist, just click there at the end of https://nvo.io and see. What I did find was this: https://plus.google.com/104197239572605201264A google profile sending people to some fake steam giftcards website. Could you guys please explain all of this? Yanni Bragui - Lead Developer and CTO
14 years of experience in software engineering. Software developer for ERMA , the biggest research center in africa for light and street light. Previous head of development for Veserus, a fully licensed cryptocurrencies exchange. I tried to verify this but neither did I find ERMA, nor anything whatsoever about Yanni Bragui. His linkedin profile does not exist, just click there at the end of https://nvo.io and see. What I did find was this: https://plus.google.com/104197239572605201264A google profile sending people to some fake steam giftcards website. Could you guys please explain all of this? I have the same question please Yani is with me, at home, so when he connected to his linkedin account they decided to freeze it because they said it was a breach into their TOS. The CEO of ERMA is my father, i could give you his LinkedIn account, it is one of the biggest in Algeria, and doesn't require marketing or PR as it is already the most famous street lights and clocks company and we have the N1 research center in lights and streetlights in africa, and the first one in north africa. You won't find PR about yani because it was for internal work, his work was mostly about photo cells, it is like a light detector who controls the lamp. Yani and i are Dota2 players, so we always click blindly when we see something about steem or games. i am nemgun on steem, BLU-MED on dota2, join me if you want. Yani is a long time friend, this is me and Yani during my second marriage :  Regarding ERMA :  My father sent me to work with a team who was placing new streetlights, i had to learn all the workflow from bottom to top. |
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A block explorer is really easy to do, the main problem is about CSS, but for the rest, you can walk on it without any trouble.
First : You need a full node.
Second: You have to create some classes to retreive the block hash, block number, Block timestamp, TXs in block, Total fees, total amout of TXs.
Third : You have to provide a link where the users could click on Block hash, or TX id, and retreive its informations in the page.
These are the basics of a block explorer i guess.
In order to do that, you need :
1- Fully synced Daemon (not wallet)
2- Knowledge about RPC API of the daemon.
3- Knowledge about the language you want to use, either PHP, NODEjs, or any other language (any language can be used because it is a common API that will be used).
4- Time and patience, especially if you are learning.
I suggest you to do it on your own, it is better then use a ready made project, unless you want to save time, but you own't learn much doing that.
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Hy guys! I can not get a response from the poloniex server. Always at start I have an error. API key and Secret key in the script is installed. I tried to work with the class presented in the Polonix documentation. Help solve this problem. Error:File_get_contents (......................): failed to open stream: HTTP request failed! HTTP / 1.1 403 Forbidden Example code: require ("poloniex.php");
$polo = new Poloniex ($key, $secret);
$ticker = $polo-> returnTicker ();
print_r ($ticker);
This code also does not work:$url = "https://poloniex.com/public?command=return24hVolume";
$query = file_get_contents("https://poloniex.com/public?command=return24hVolume");
$info = json_decode($query); //now you can use the informations in php
echo $query; In the interface of the exchange, the API has a status that has never had any connections. Thank you for your help! Can you try to echo it directly ? $url = "https://poloniex.com/public?command=return24hVolume";
$query = file_get_contents("https://poloniex.com/public?command=return24hVolume");
//$info = json_decode($query); //now you can use the informations in php
echo $query; And see the return, can you also tell me what is the version of php you are using ? |
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NVO.IO signature campaign (Member and above only) https://bitcointalk.org/index.php?topic=1924265.0;topicseenMembers: 0.00025 BTC/post Full members: 0.00035 BTC/post Sr. members: 0.00045 BTC/post Hero/legendary: 0.00052 BTC/post Max posts: 30 per week and the minimum is 10 . Manager (and escrow too): Edwardard Thanks for adding NVO.IO, and thanks Mitchell for maintaining this thread, it should be good to stick it in the service section of the forum. |
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A USB stick with ubuntu isn't that good, as you are very limited.
You have a hundred ways to generate a bitcoin keypair, just pick the one you want to use.
If you are really aware of security, you can use virtualbox to create a temporar Linux machine, regardless of the flavor, and then from there you can generate private and public key, address, and create your transactions, once it is done, just backup the keys, write them down, and delet the machine.
It is one the safest ways to work with bitcoin.
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Hey guys, Sorry for the issues. Blockchain is getting too spammy, we already had 0.002BTC per kilo for the fees and covered them from our own pocket, but even this amount is not enough. Unfortunately I can not set dynamic fees for users as I'm traveling by work until 3rd of June, so I've just bumped fees to 0.003BTC per kilo. Also site fees have been bumped from 0.0002 to 0.0005. I hope that upcoming HF and SegWit will solve it. PS: As soon as I get back we will add on-site exchange back Regards, Alex. How about grouping withdrawals and processing them once in 5 minutes or once in 10 minutes, the fees would be lowered. Sadly SegWit won't solve the problem for the coins generated before the SegWit activation. Maybe lightning can be the sollution. I apparently missed that event ! the on-site exchange, will be following this. |
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It is my second time investing in NVO, first time i was unable to received back my NVO because i was using different bitcoin wallet service anyway thats okey it is just a small amount to try to invest, Second time i invested a small amount again for tersting i created a wallet in counterwallet and follow your instructions above. and i am glad that it works like a charm.
I am glad to see that you managed to do it right. could you please send me more informations by PM or contact the team on slack about the first investment ? it would be good to sort it out and find a way to resolve this issue. Thanks for your support. nemgun,
Much appreciated - Im not very computer literate, so you can imagine getting into the crypto world is a highly complex subject for me, but a worthwhile one i believe! The step-by-step approach was exactly what i needed.
I will take a look at the counterwallet link you posted later today when i get the chance, thanks.
The hardware wallet im wanting is the KeepKey but seems production cant currently meet demand.
Best regards,
KR
You are welcome, do not hesistate to ask if you have any problem at any step, take your time. I know that it might be confusing when you start with bitcoin, but it is definitly worth to learn how to use it. And it is not complex, as sson as you understand the basics of Bitcoin, you will find it really easy to use. I though KeepKey production was stoped, i don't use it, nor ay other hardware wallet, i have some special ways to store my cryptos. That's good to be a part of the successful campaign which is completely based on the decentralized platform and functioning in an effective manner just based on the support from the investors and the early bonus for the investors is quite good to make a big profit after the crowdsale.
You are right. This is one of the biggest crowdsale we are about to experienced. I think NVO Decentralized exchange project is the need of the hour as we need a single wallet which contains most of our altcoins . Currently we store our alts on exchanges where we have no control on private key. NVO offers storage with full control of private key, making it the securest and the best. Storing cryptos on exchanges is a bad practice because of the centralization, NVO wants to provide as much features as possible to the users so they don't have to care about the security of their coins and assets. this is why there will be an exchange, and the ability to use the different functions provided by the original clients. So instead of storing your assets on exchanges, or downloading 50 blockchains, the users could simply use NVO. |
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This is my first post in this community so firstly hello to everyone!
I would be greaful for some feedback on the questions i have regarding the NVO Crowdsale if possible?
First Question - I took an interest in this project prior to the initial launch date. I registered on the site to take part in the crowdsale, as part of this process i was given a user I.D.
As the date arrived i tried to log-on, but obviously there was an unexpected demand and the crowdsale launch date was subsequently set back.
Today i have tried to log-in to the crowdsale again now that things have stabilised, but it didnt recognise my login details, so i instead signed up as a fresh user (useing my original login details & email etc.). This worked and i was asigned a different user I.D. which i can use to log-on
Do you see any issue with this i.e. my email and password wont be still linked an anyway to my originnal registartion and cause issues down the line?
Second question - I was planning to contribute in the form of BTC from a Blockchain.info account, do you see any issues with this. Reading the website, if i deposit from Blockchain.info. then any distrubution of fee's in the form of NVOT would be sent to this same address. Is there an option to have funds sent to a different address at a later time?
I assume NVOT would be credited to the Blockchain.info account in the form of BTC, so i should then be able to transfer this BTC to a hardware wallet (which im awaiting delivery of - out of stock) at any time in the future?
any help appreciated,
Thanks,
KR
First of all, welcome to the bitcoin talk community, and welcome to NVO. If you have anymore questions feel free to ask either in the thread, by PM or in slack, the NVO project is open and wants to be as user friendly as possible. So let's answer your questions. First question : There was a lot of troubles at the initial launch, now they have been solved, server upgraded and the traffic can be managed with a relative ease, but most important, the security issues have been solved. Regarding your account, some have been lost due to database enhancements, but the team kept a copy of it, so your informations and old user ID can still be recovered. If you haven't invested it is better to create a new account. Second question: You shouldn't invest from a blockchain.info wallet, even if the wallet's private key can be recovered, it is not advised to do the operation as it can return some unexpected results. the best is to create a counterparty address and use it to invest, this way you will find your NVOT directly into that address. The investment process may be complicated for some users, but we will do our best to guide you. So : 1- Create a wallet at : https://wallet.counterwallet.io/2- backup the passphrase 3- Send Bitcoins to your counterparty wallet. 4- Register in NVO and login. 5- Insert the counterparty wallet's address. 6- Send from your counterparty wallet to the Bitcoin escrow address. Finished, you will receive your NVOTokens into that wallet, and as it is a counterparty wallet, you will be able to see them. Do not hesitate to contact me or the team (slack) if you need more informations or guidance. Could please specify the model you are awaiting for ? Reaching here and looking forward to this project!
Welcome on board ! I was really curious about total amount accumulated by NVO project so far and it seems that so far total number of Bitcoin accumulated on Multi-Sig BTC escrow address for the NVO crowd sale 3AiGej11G8jUXvEBPvQKPLiHXC7ruUCp1Z is 37.22803392 BTC. 29 days to go, before ICO will end. Can you guess what will be the final balance in BTC?  I don't want to speculate on that, the project isn't focusing on money. The most important is to focus on the project development, the crowdsale is just a step. The team doesn't want to "imagine" how much they will collect, they are more in a logic of "how to best use this money" because the real objective of NVO is to bring volume to the exchange, and they can't bear to disrespect the community as it would be bad for the investors, and the futur users. That's good to be a part of the successful campaign which is completely based on the decentralized platform and functioning in an effective manner just based on the support from the investors and the early bonus for the investors is quite good to make a big profit after the crowdsale.
Yes. Its nice to see some wonderful people backing up this project and nemgun doing a marvelous job by answering all the queries here. Will keep an eye on this and will be looking forward to its success. I would suggest members supporting it can tweet about it and let others know about it. Thanks for your support, it is great ! 29 days to go, before ICO will end. Can you guess what will be the final balance in BTC? 7543.03392128 precisely  I suppose the answers you were given were satisfactory so that you imagine a crowdsale like this, its a pleasure to see your enthusiasm for the project |
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Sorry if this question has already been asked, but what is this ICO exactly for? Is it for buying coins or shares? In case of shares, will you earn fees from the exchanges that other people make?
Thanks for the question, this is not an ICO, it is a crowdsale because the team want to be fair with the investors. In the case of NVO, the Tokens will be used as a faucet, it is a way to help controle the price of the Token using a sub token at a fixed rate. Please have a look at my last post. There are some great partnerships who will let NVO exchange grow in term of volume which is the main concern for decentralized exchanges. Another aspect of the project includes the creation of plugins to bridge together different projects from a single wallet. So instead of having 20 wallets on your computer, or having to keep logins for 100 service providers, NVO will let you do this directly from the wallet.
-edited-
NVO wants to be fair with the whole crypto community, either Altcoins or Bitcoin.
The large investors who are looking for early bonus have to understand that the strengh of a currency comes from it's community, NVO isn't here to create social divisions, NVO is here to serve everyone from smallest to largest. Do not forget that 90% of the community tested at least once a faucet to understand bitcoin by micro payments.
This is something that will resound with a lot of people like me. I am definitely part of that 90% of community who was curious to try Bitcoin and of course got my first payments after a few days of using a faucet. I am sure 90% are also like me who don't have much and are waiting so long for a chance to put our small coins into something we can share equally if it grows. NVO looks like one of this, and I am very close to making the decision to make it my first "real" choice for supporting. Thank you for your comment, and i welcome to the adventure, in fact, NVO wants to get all the community, not only bitcoin, but all cryptos. NVO doesn't compete with blockchains, but wants to complete their work by providing a unified interface to as much projects as possible. |
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Hello Tonbi,
I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:
1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?
thx
Hello, and thank you for your interest : 1- The amount of NVOS will be proportional to the amount of fees collected by the Validator. 2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd. The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that. Thx for the reply Tonbi and Nemgun. Ok, let's see if I get it, working example: suppose I hold 20% of all NVOTs. Suppose t is the interval of time between NVOS distribution. Scenario: During t, 10 BTC are collected as fees and 10 ETH are collected as fees, so 20% of 50 % of that is to be distributed to me, that is, 1 BCT plus 1 ETH - NVO company holds 50% of all fees. So far, so good. Now, based on which market will you give me the amount of NVOS corresponding to that 1 BCT and to that 1 ETH in dollars?? I understood that when you come up with the price of all fees of all cryptocurrencies in dollars, you will use the formula NVOS=0.99USD to generate the adequate amount of NVOS, that's very clear. What I'm struggling with is how this calculation will be done. Isn't it easier in each scenario to distribute the cryptocurrencies themselves? Specially if your schemata is seen by regulatory agencies in different countries as an online exchange and with the risk of the entire thing being shut down? You are distributing dividends with price tag in fiat. I don't know about the tech challenges to do this, though. Let me first explain why 0.99$. In USA, 1$ is valuable, but lower then 1$ isn't valuable, this is why NVOS will be used, NVO doesn't want to get regulated by the governments because it is a decentralized exchange, regulating NVO means centralizing it. So as 1$ is a reference in USA, the Team decided to lower the price of NVOS by 1 cent in order to avoid legal issues regarding the distribution of funds, this process lets the NVO Wallet usable worldwide without limitations like Bitcoin. The NVOT and NVOS will be counterparty assets, built on top of the Bitcoin blockchain, so the NVOS will be exchanged for Bitcoin only. While NVOT can be exchanged like any other asset/currency. Once you put your NVOT in the NVO wallet, the validator will be aware that own X amount of NVOT, and will then send you a proportional amount of NVOS. Each time a trade is concluded, the validator will calculate the fees values in bitcoin. Then he will process the distribution of NVOS, 50% will be sent to NVO and 50% will be distributed to the owners of NVOT. NVO will issue buy orders once a week to buy back the NVOS at a fixed value of 0.99$ in BTC. This process will be automated later. How the Validator will send the NVOS to NVOT holders ? The validator will convert the collected fees from Altcoin/Asset to Bitcoin. Then he will exchange the Bitcoins to USDT in order to fix the value. Finally will send NVOS proportionally to the amount of fees collected, and will distribute them proportionally to the amount of NVOT held by the wallets. After a week, NVO will buy back the distributed NVOS to feed the Validator for the next week and so on, this process will be automated in late development stages. This will incentivise holders/investors/owners of NVOT by keeping their tokens into the wallet, thus reducing the risk of dumps. |
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