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Author Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B  (Read 1146866 times)
farl4web
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January 09, 2017, 07:14:31 AM
 #3601

Finally we can swap our btcd.

It seems to be common for crypto projects to be delayed substantially past their estimated release date.

This is mostly because these projects are on undiscovered terrain and unique. It isn't a project with a DIY on Youtube. Building these things take time and encouter a lot of problems that needs to be solved. But I am glad too things are moving forward. I have been testing and running notary nodes for months now and love to see them in action on mainnet (if people vote for me).  Grin

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ptytrader
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January 09, 2017, 07:26:43 AM
 #3602

Exactly, I agree. In fact, Komodo is probably one of the most unique platforms currently being tested. The SuperNET and its Komodo Platform will become a new standard for altcoins.

KMD doesn't compete against its fellow altcoins, instead the platform competes against fiat currencies. I think that we have been bombarded with so many ICOs and other "miracle" altcoins in the past 3 years that we have become accustomed to bitcoin-clones. I think that when we see what this platform can do, we will all be awed. That makes me feel very proud to be part of testing and having an important role in running a testnet notary node.

I am a candidate for the upcoming election. I do hope you take me into consideration. If can spare 2 minutes, my profile link is below. You will be able to read the proposal for my regions.

Cheers,

PTYTRADER
Komodo Notary Node Candidate (Active on Testnet)
Profile: https://www.komodoelection.com/candidates/ptytrader

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hansen.ng
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January 09, 2017, 08:23:45 AM
 #3603

so will BTCD  stop producing new block on the 15th?

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gbdesai
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January 09, 2017, 08:30:31 AM
 #3604

At what point should we request that KMD be added to Poloniex?   Should we wait until it is distributed or go ahead and do it now:

https://poloniex.com/coinRequest

I think the earlier the better. It'll show that everyone is waiting for its launch. Anyway I've just submitted a request.

Try not to mention it is partly designed along with Iguana, to replace the need for Polo Smiley
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January 09, 2017, 08:33:07 AM
 #3605

so will BTCD  stop producing new block on the 15th?

No, BTCD is decentralized like any other crypto, you cannot shut it down. As long as there are nodes online it will continue.

There is one full year to do the swap.

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gbdesai
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January 09, 2017, 08:33:42 AM
 #3606

so will BTCD  stop producing new block on the 15th?

Don't think so, it can live on after a year has passed.  The rate you get for swap will drop throughout the swap period I believe to compensate for new coins introduced, at least that's the only way I see it working. After a year you can't stop so it won't matter.
farl4web
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January 09, 2017, 08:39:13 AM
 #3607

so will BTCD  stop producing new block on the 15th?

No, BTCD is decentralized like any other crypto, you cannot shut it down. As long as there are nodes online it will continue.

There is one full year to do the swap.

The beauty of decentralization!  Cheesy

Follow the latest blockchain news: https://twitter.com/blockchainguide
hansen.ng
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January 09, 2017, 08:59:21 AM
Last edit: January 09, 2017, 09:09:38 AM by hansen.ng
 #3608

so will BTCD  stop producing new block on the 15th?

Don't think so, it can live on after a year has passed.  The rate you get for swap will drop throughout the swap period I believe to compensate for new coins introduced, at least that's the only way I see it working. After a year you can't stop so it won't matter.
so for the Total BTCD swap: 8392.727 BTC is that included for the amount of BTCD generated for the next 1 full year?

so based on what you said, it is better to swap KMD as early as possible, since the KMD will be lesser if you swap it later?

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PROTECTING YOUR PRIVACY
WITH BITCOIN'S HASHRATE






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POWERS SuperNET
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courage11
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January 09, 2017, 09:22:20 AM
 #3609

Apologies in advance for the newbie question:

I've have just over 21300 KMD on the Komodo ICO platform - I didn't think that this would be so technical, do I just let it sit there? Should I be doing something with it? How do I sell it? How much is it worth?

Any help would be greatly appreciated!


Thanks!

Courage11

yassin54
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January 09, 2017, 10:15:15 AM
 #3610

Komodo Is Ready For Launch! Anonymous transactions, fiat pegged assets, and decentralized exchange coming.


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January 09, 2017, 10:27:24 AM
Last edit: January 09, 2017, 10:50:20 AM by rnr
 #3611

Apologies in advance for the newbie question:

I've have just over 21300 KMD on the Komodo ICO platform - I didn't think that this would be so technical, do I just let it sit there? Should I be doing something with it? How do I sell it? How much is it worth?

Any help would be greatly appreciated!


Thanks!

Courage11



KMD (mainnet launch) Distribution will be on 31. January 2017.

With the launch you will be able to withdraw your KMD from your personal account at the Komodo ICO site to a Komodo (KMD) wallet.

Further, if KMD is listed on an centralized exchange, you will be able to trade your KMD there.

Until then just do nothing, except to exercise your right to vote (me or kolo  Grin): https://bitcointalk.org/index.php?topic=1605144.msg17227729#msg17227729  Wink

Please note: The elections feature/menu isn´t active yet!

Elections begin at 15.01.2017 at 3 p.m. (UTC)
Elections finish at 29.01.2017 at 3 p.m. (UTC)
btvGainer
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January 09, 2017, 10:43:23 AM
 #3612

At what point should we request that KMD be added to Poloniex?   Should we wait until it is distributed or go ahead and do it now:

https://poloniex.com/coinRequest

I think the earlier the better. It'll show that everyone is waiting for its launch. Anyway I've just submitted a request.

Try not to mention it is partly designed along with Iguana, to replace the need for Polo Smiley
Since the BTCD swap will continue for a whole year, it would effect KMD price if listed on exchange.I think the listing should be done after swap
Lyricz
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January 09, 2017, 11:01:09 AM
 #3613

Would the exchange rate    1 BTCD = 50.42041779 KMD

the same for the whole year ?  ...so i can stack with my Bitcoindark for a few month in the client and than swap it to Komodo for the same exchange rate as now ?
rnr
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January 09, 2017, 11:04:36 AM
 #3614

Would the exchange rate    1 BTCD = 50.42041779 KMD

the same for the whole year ?  ...so i can stack with my Bitcoindark for a few month in the client and than swap it to Komodo for the same exchange rate as now ?


1 BTCD = 50.42041779 KMD is the official announced BTCD > KMD swap rate!

During 1 fully year BTCD can be swapped for KMD with that rate (however the exchange rate decreases slightly throughout the year ­because BTCD staking expands the supply).

Detailed FAQ powered by Team Komodo Ninja
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January 09, 2017, 11:42:37 AM
 #3615

Now that the BTCD --> KMD Swap has started, the demand for BTCD has really risen on Poloniex.  The price is up to .00430 on heavy volume.

Remember that .006512 is equivalent to the ICO price, so still plenty more room to run up to near that level.

Current BTCD Price (Poloniex):  .00430 BTCD/BTC

Current BTC/BTCD rate:
232.56 : 1 (amount of BTCD that you get for 1 BTC)

KMD/BTCD swap rate
: 50.42041779: 1 (amount of KMD you will get for 1 BTCD that you swap on ICO site)

KMD/BTC current rate: 11725.679 (amount of KMD you get for 1 BTC worth of BTCD at current price on Poloniex)

KMD/BTC ICO rate: 7746.522 : 1 (amount of KMD you got for 1 BTC at the end of ICO with no bonus)

Current extra KMD via BTCD: +3979.157 KMD or +51.37% extra (relative to ICO KMD/BTC rate at the end of ICO with no bonus)

So at current prices, you get much more KMD that you would have gotten at the end of the ICO.

The price could rise sharply from here to .006512 BTCD/BTC and you would still get the same amount of KMD. per BTC spent, as during the final phase of the ICO.

The swap has begun for KMD, so once you buy the BTCD, move them to the Komodo IC:   https://ico.komodoplatform.com/ or keep them in your own personal wallet:  http://bitcoindark.com/

Request that KMD be added to Poloniex here:   https://poloniex.com/coinRequest
tclo
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January 09, 2017, 11:44:31 AM
 #3616

Would the exchange rate    1 BTCD = 50.42041779 KMD

the same for the whole year ?  ...so i can stack with my Bitcoindark for a few month in the client and than swap it to Komodo for the same exchange rate as now ?

The exchange rate drops in a linear fashion throughout the year until it's 5% less in 365 days.
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January 09, 2017, 12:31:02 PM
 #3617

Where can I read about REVS? I used search and if I got it right it's some kind of asset using its own side chain on top of Komodo. But who is developing it and for what purpose?

In the FAQ there's a section about the REVS: https://komodoplatform.com/faq/

Quote
What is the ‘revenue asset’?

For BitcoinDark a certain revenue share was promised from the various projects that compose the overall SuperNET ecosystem. Those revenue shares won’t migrate to Komodo. Instead, the BTCD holders will get an extra asset that will inherit those revenue streams.

The asset is entitled to these revenue streams:

5% of InstantDEX profits
5% of SuperNET profits
5% of crypto777 profits
After the ICO is over, a snapshot of the BTCD blockchain will be taken. With assetchains we have created a new asset called REVS. A BTCD private key will be required to prove that you had BTCD during the snapshot.

Thanks!

One more question.

Total BTC Raised: 2639.03 - Total Market Cap: 12,900 BTC
How is that possible?

You have to add up the market cap of BTCD as valued at the end of the ICO:   

Total BTC raised: 2634.04 BTC
Total BTCD swap: 8392.727 BTC

Total Market Cap: 12,900 BTC

--> KMD exchange rate = 0.000129 BTC/KMD = 7747.9 KMD/BTC
--> BTCD exchange rate = 0.006511 BTC/BTCD = 153.59 BTCD/BTC



By now there's only slightly over 100K BTCD was swapped. Nobody knows how much will be swapped by the end of the year.

Also BTCD capitalization is 5,421 BTC. Where 8392.727 BTC number come from?

KomodoPlatform
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January 09, 2017, 01:19:14 PM
 #3618

Where can I read about REVS? I used search and if I got it right it's some kind of asset using its own side chain on top of Komodo. But who is developing it and for what purpose?

In the FAQ there's a section about the REVS: https://komodoplatform.com/faq/

Quote
What is the ‘revenue asset’?

For BitcoinDark a certain revenue share was promised from the various projects that compose the overall SuperNET ecosystem. Those revenue shares won’t migrate to Komodo. Instead, the BTCD holders will get an extra asset that will inherit those revenue streams.

The asset is entitled to these revenue streams:

5% of InstantDEX profits
5% of SuperNET profits
5% of crypto777 profits
After the ICO is over, a snapshot of the BTCD blockchain will be taken. With assetchains we have created a new asset called REVS. A BTCD private key will be required to prove that you had BTCD during the snapshot.

Thanks!

One more question.

Total BTC Raised: 2639.03 - Total Market Cap: 12,900 BTC
How is that possible?

You have to add up the market cap of BTCD as valued at the end of the ICO:   

Total BTC raised: 2634.04 BTC
Total BTCD swap: 8392.727 BTC

Total Market Cap: 12,900 BTC

--> KMD exchange rate = 0.000129 BTC/KMD = 7747.9 KMD/BTC
--> BTCD exchange rate = 0.006511 BTC/BTCD = 153.59 BTCD/BTC



By now there's only slightly over 100K BTCD was swapped. Nobody knows how much will be swapped by the end of the year.

Also BTCD capitalization is 5,421 BTC. Where 8392.727 BTC number come from?

We must assume that at the end of the year all BTCD is swapped.

Everyone who holds BTCD in their local wallet doesn't have any rush to swap, as they will get the REVS asset anyway, and have a lot of time left to swap. The BTCD that has now been deposited is presumably mostly from central exchanges.

◈▣ KOMODO ● Set Your Ideas Free ▣◈
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Fishdude1
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January 09, 2017, 01:33:18 PM
 #3619

Where can I read about REVS? I used search and if I got it right it's some kind of asset using its own side chain on top of Komodo. But who is developing it and for what purpose?

In the FAQ there's a section about the REVS: https://komodoplatform.com/faq/

Quote
What is the ‘revenue asset’?

For BitcoinDark a certain revenue share was promised from the various projects that compose the overall SuperNET ecosystem. Those revenue shares won’t migrate to Komodo. Instead, the BTCD holders will get an extra asset that will inherit those revenue streams.

The asset is entitled to these revenue streams:

5% of InstantDEX profits
5% of SuperNET profits
5% of crypto777 profits
After the ICO is over, a snapshot of the BTCD blockchain will be taken. With assetchains we have created a new asset called REVS. A BTCD private key will be required to prove that you had BTCD during the snapshot.

Thanks!

One more question.

Total BTC Raised: 2639.03 - Total Market Cap: 12,900 BTC
How is that possible?

You have to add up the market cap of BTCD as valued at the end of the ICO:   

Total BTC raised: 2634.04 BTC
Total BTCD swap: 8392.727 BTC

Total Market Cap: 12,900 BTC

--> KMD exchange rate = 0.000129 BTC/KMD = 7747.9 KMD/BTC
--> BTCD exchange rate = 0.006511 BTC/BTCD = 153.59 BTCD/BTC



By now there's only slightly over 100K BTCD was swapped. Nobody knows how much will be swapped by the end of the year.

Also BTCD capitalization is 5,421 BTC. Where 8392.727 BTC number come from?

We must assume that at the end of the year all BTCD is swapped.

Everyone who holds BTCD in their local wallet doesn't have any rush to swap, as they will get the REVS asset anyway, and have a lot of time left to swap. The BTCD that has now been deposited is presumably mostly from central exchanges.

If after 1year it turns out only for example 50% or 80% btcd was swapped, will this lead to additonal KMD pay outs or be beneficial for KMD owners in any other way?
tclo
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January 09, 2017, 01:39:21 PM
 #3620

Apologies in advance for the newbie question:

I've have just over 21300 KMD on the Komodo ICO platform - I didn't think that this would be so technical, do I just let it sit there? Should I be doing something with it? How do I sell it? How much is it worth?

Any help would be greatly appreciated!


Thanks!

Courage11



You don't have a choice but to let it sit there for now.  And there is no market price for KMD and we won't know how the market values it until it is officially distributed and traded on some exchanges.
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