[ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B

[CryptoNick]

What Exchanges are going to be used for KMD?

I suppose this is mostly for Anon, so if I send in my BTC and then send KMD to trade at an Exchange and make money off other traders and then turn my KMD back into BTC washed and squeaky clean. But anyone outside the ICO has their BTC sent to an exchange with KYC/AML...

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[yassin54]

Komodo - Notary Election - Choose who will represent you as a Komodo Notary Node.

https://www.komodoelection.com/

Tweet : https://twitter.com/KomodoPlatform/status/785748833212960768

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/344543262558918/?type=3&theater

Reddit : https://www.reddit.com/r/komodoplatform/comments/56wzhd/komodo_notary_election_choose_who_will_represent/

News SuperNET : http://news.supernet.org/posts/EZPTaR6KL5vRzNTo9/komodo-notary-election-choose-who-will-represent-you-as-a

[KomodoPlatform]

What Exchanges are going to be used for KMD?

I suppose this is mostly for Anon, so if I send in my BTC and then send KMD to trade at an Exchange and make money off other traders and then turn my KMD back into BTC washed and squeaky clean. But anyone outside the ICO has their BTC sent to an exchange with KYC/AML...

There is no way to know. The exchanges will do their own choices and decisions, so we cannot promise anything. Of course it's reasonable to assume that a liquid market will be added to all the major exchanges at some point.

[KomodoPlatform]

ANNOUNCEMENT

komodoelection.com  is now live,  if you are trying to become a candidate  please create a profile  on the site,   profiles are under manual approval to combat spammers.   Profiles will be approved within 24 hours of posting,   most often sooner.   Good luck in the election!

[akhavr]

One thing is not clear: will be there a snapshot of BTCD balances or BTCD should be sent to an exodus address?

If the first, what would be the snapshot date?  (should move my coins out of exchange before )

[loremipsum]

ANNOUNCEMENT

komodoelection.com  is now live,  if you are trying to become a candidate  please create a profile  on the site,   profiles are under manual approval to combat spammers.   Profiles will be approved within 24 hours of posting,   most often sooner.   Good luck in the election!

This is for the nodes right? Any news on how to participate on the ICO? The date is close

[disconnectme]

I was about registering  on the election page then I can't found Africa region on the list, I am an African so I decided to withdraw myself from this project

[KomodoPlatform]

One thing is not clear: will be there a snapshot of BTCD balances or BTCD should be sent to an exodus address?

If the first, what would be the snapshot date?  (should move my coins out of exchange before )

There is a BTCD snapshot for the revenue asset, so you should hold your BTCD's in a local wallet. For downloads and instructions (the guide) visit the bitcoindark.com website.

After the snapshot the BTCD <-> KMD swap begins, and it will last one full year. During that time you can swap your BTCD's to KMD. More info about how this is done will be published later.

In summary:
BTCD holders: send your BTCD to a local wallet before the ICO ends!
BTC investors: invest your BTC during the ICO. We will have an ICO site with instructions, it will be announced little later. The link can be found from komodoplatfrom.com website on October 15th (when the timer runs out).

For more info BTCD holders can read this Steemit post

ANNOUNCEMENT

komodoelection.com  is now live,  if you are trying to become a candidate  please create a profile  on the site,   profiles are under manual approval to combat spammers.   Profiles will be approved within 24 hours of posting,   most often sooner.   Good luck in the election!

This is for the nodes right? Any news on how to participate on the ICO? The date is close

Yes, it's for those who wish to run a notary node.

On October 15th a link will appear on the komodoplatform.com website, and that will take you to our ICO site.

I was about registering  on the election page then I can't found Africa region on the list, I am an African so I decided to withdraw myself from this project

Hello!

You can pick "Southern Hemisphere". We hope we can get you onboard! It would be nice to have some nodes in Africa.

The Southern Hemisphere contains all or parts of five continents, including all of Antarctica, Australia, almost all of South America, the southern third of Africa and some southern islands in Asia (parts of Indonesia). It also includes four oceans (Indian, South Atlantic, Southern and South Pacific) and a major part of Oceania.

[kaicrypzen]

Hi,

I was wondering if the pre-ICO bonuses (30% and 35%) will also be taken into account to compute the average bonus:

Another bonus system was established to counter the dilution the BTC bonus system would have for BTCD investors. The bonus is calculated by applying the average bonus the BTC investors got to the swap rate.

Example: Lets say 10000 BTC are collected and 1000 BTC in early investor bonus was taken. That means the average bonus is 10%. This would bring the BTCD swap rate to 0.005852.

Also, I assume there will be some kind of public records concerning the amounts invested and their bonuses.

Thank you.

[farl4web]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

[jl777]

I was about registering  on the election page then I can't found Africa region on the list, I am an African so I decided to withdraw myself from this project

Africa is in the SH Southern Hemisphere region

we are not using strictly literal interpretations, so all of Africa will be considered SH, along with South America, Australia

[KomodoPlatform]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hi,

I was wondering if the pre-ICO bonuses (30% and 35%) will also be taken into account to compute the average bonus:

Another bonus system was established to counter the dilution the BTC bonus system would have for BTCD investors. The bonus is calculated by applying the average bonus the BTC investors got to the swap rate.

Example: Lets say 10000 BTC are collected and 1000 BTC in early investor bonus was taken. That means the average bonus is 10%. This would bring the BTCD swap rate to 0.005852.

Also, I assume there will be some kind of public records concerning the amounts invested and their bonuses.

Thank you.

Yes, they are taken into account when calculating the average bonus, i.e. BTCD bonus.

The investments per bonus tier will be made public. Currently we have raised 300 BTC (+300 BTC more is promised) by angel investors.

If someone missed the announcement, here it is:

Announcement! Komodo welcomes pre-ICO angel investors!

We will accept investments from angel investors before the ICO starts.

PreICO Angel Investors Terms:

Investments >250 BTC will receive 30% bonus instead of 25%.
Investments >500 BTC will receive 35% bonus instead of 25%.

The Offer will end right when the ICO starts on October 15th.
The total amount that can be raised with those terms is 5000 BTC.

Contact TwinWinNerD to take advantage of this deal, it is a manual process.

Best regards,
Komodo Team

There have been no insider deals and several large investors approached us for getting a bigger discount with a pre-ICO investment. This is not anything we planned, we are just responding to demand.

Now, it is important that everybody get the same opportunity as everybody else. The only requirement is the amount of the BTC. Considering the size and the timing, the extra percentage bonus is appropriate. This is open to everybody, nobody is forced to do this.

We are not talking about a 3x or 5x advantage to the large investors. It is 5% to 10%. If anybody really thinks this is unfair, well, we have to agree to disagree. Whales always get a better deal than the rest, I hope people will analyze this objectively and not with emotions.

[kennyP]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hopefully a way can be found to let BTCD holders still vote even if they keep staking and don't redeem before the election.

[KomodoPlatform]

From SuperNET Slack #general:

jpr
how will the coins be distributed after ICO? Sent to wallets?

jl777
yes

jpr
and will there be wallets for linux with gui from the beginning?

jl777
wallets for unix are already working in testnet. GUI is not yet, but I expect that we will get them this month


Join SuperNET Slack so you don't miss anything! We have #komodo channel there

[KomodoPlatform]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hopefully a way can be found to let BTCD holders still vote even if they keep staking and don't redeem before the election.

From investment perspective it doesn't matter when you swap. Even if you are staking more BTCD you will still be receiving the same amount of KMD, as the BTCD/KMD exchange rate will decrease at the same rate you could stake your BTCDs. If we would allow people to stake their BTCD for one year and then swap with the original exchange rate we would run out of KMD.

[jl777]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hopefully a way can be found to let BTCD holders still vote even if they keep staking and don't redeem before the election.

The voting has to happen after the ICO is completed.
BTCD redeem has to happen after the ICO is completed.

So it is a matter to combine BTCD redeem + voting, as the ICO redeem + voting is being done.

When there is enough votes to know the notary nodes, we start mainnet and the notaries and then distribute coins

Some details subject to change, but the above gets everybody in the same timeframe, which is what is most important with ICO coins. The actual distribution will be done with normal transactions in batches, so some will get their KMD several blocks ahead of others, but it should all happen within a few hours or less

[kennyP]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hopefully a way can be found to let BTCD holders still vote even if they keep staking and don't redeem before the election.

The voting has to happen after the ICO is completed.
BTCD redeem has to happen after the ICO is completed.

So it is a matter to combine BTCD redeem + voting, as the ICO redeem + voting is being done.

When there is enough votes to know the notary nodes, we start mainnet and the notaries and then distribute coins

Some details subject to change, but the above gets everybody in the same timeframe, which is what is most important with ICO coins. The actual distribution will be done with normal transactions in batches, so some will get their KMD several blocks ahead of others, but it should all happen within a few hours or less

Thanks James, that makes sense. I intend to keep staking my btcd as long as possible, but I was forgetting that the redeem/vote snapshot for the REV share can still happen right after the ico is completed. No need to send coins anywhere, just use snapshot balances.

[jl777]

The stakeholders are going to vote for the Notary, but how is it's going to take place and when?

The current plan for the first election is that the voting would happen when people redeem their KMD, or some short of other temporary procedure. For the later elections we must develop a better system, and about that we currently have no info. jl777 is thinking the best way to implement it.

For the first election it is possible that we don't even get 64 candidates, so there's a change there won't really be any meaningful elections. We will see.

Hopefully a way can be found to let BTCD holders still vote even if they keep staking and don't redeem before the election.

The voting has to happen after the ICO is completed.
BTCD redeem has to happen after the ICO is completed.

So it is a matter to combine BTCD redeem + voting, as the ICO redeem + voting is being done.

When there is enough votes to know the notary nodes, we start mainnet and the notaries and then distribute coins

Some details subject to change, but the above gets everybody in the same timeframe, which is what is most important with ICO coins. The actual distribution will be done with normal transactions in batches, so some will get their KMD several blocks ahead of others, but it should all happen within a few hours or less

Thanks James, that makes sense. I intend to keep staking my btcd as long as possible, but I was forgetting that the redeem/vote snapshot for the REV share can still happen right after the ico is completed. No need to send coins anywhere, just use snapshot balances.

correct

and REVS can even be distributed independently of KMD, but since REVS will use KMD dPoW, it will need to wait until after KMD mainnet is live

[farl4web]

From SuperNET Slack #general:

jpr
how will the coins be distributed after ICO? Sent to wallets?

jl777
yes

jpr
and will there be wallets for linux with gui from the beginning?

jl777
wallets for unix are already working in testnet. GUI is not yet, but I expect that we will get them this month


Join SuperNET Slack so you don't miss anything! We have #komodo channel there

Will there be wallets for Mac too? 

[won99]

4 days again ICO will be start,,Hurraayyy