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

[Titomanereal]

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/

What role will our tokens play in this node?I mean what is the gain for a small token holder like me?

I'm a bit unsure what you are asking, but

You can vote with your coins and get the good/stable notary node operators elected. You won't directly gain anything from the voting process itself.

In the example that you put:
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638

Mike has more votes but the elected is Tom.
How does that explain?

Because with that same format
for example: Only 10% of subsidy remains after 8 nodes.
9th 100 votes 60% subsidy
10th 90 votes 78% subsidy
11th 81 votes 90% subsidy
12th 70 votes 15% subsidy
13th 1 votes 0-10% subsidy

13th node is elected. I think votes are not worth anything.

[1713513777]

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[1713513777]

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[1713513777]

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[1713513777]

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[KomodoPlatform]

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/

What role will our tokens play in this node?I mean what is the gain for a small token holder like me?

I'm a bit unsure what you are asking, but

You can vote with your coins and get the good/stable notary node operators elected. You won't directly gain anything from the voting process itself.

In the example that you put:
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638

Mike has more votes but the elected is Tom.
How does that explain?

Because with that same format
for example: Only 10% of subsidy remains after 8 nodes.
9th 100 votes 60% subsidy
10th 90 votes 78% subsidy
11th 81 votes 90% subsidy
12th 70 votes 15% subsidy
13th 1 votes 0-10% subsidy

13th node is elected. I think votes are not worth anything.

Votes do matter. In some cases a notary node might cost $300 - 500 / month, and those could not be set up without winning a spot with 80-100 % subsidy.

Also some nodes won't get elected even if they need only 0 % subsidy, because we have a maximum number of 16 notary nodes per region. Right now there are 20 notary node participants in EU region and 21 notary node participants in NA region. If you don't get enough votes, you won't get elected.

In these first elections when Komodo is quite unknown and there is a lot of uncertainty the elections are not that big of a thing. Majority of the participants will get elected. However, if the KMD price rises above $0.25 the situation will be very different. Thus there might be a lot of competition in the future elections, and a lot more campaigning done by the notary node candidates.

[KomodoPlatform]

Last 24 hours to become a candidate!

After Sunday it's not possible to become a candidate anymore. If you are in the process of becoming one please let us know!

Here is a list of the verified candidates: https://docs.google.com/spreadsheets/d/1GXHUMQK6T0VeX4ulBPnuxNocITrUyFVCFQfmDPgKwA8/edit?usp=sharing

If you are not on that list, or if something is incorrect, please contact @audo in Slack or sent a PM here.

Also make sure your info is correct & up to date in komodoelection.com and komodometrics.com!

View the following map to see the borders of each region and where the notary nodes are located: https://api.mapbox.com/styles/v1/audo/civtcyskm001k2krh98cgt8vz.html?title=true&access_token=pk.eyJ1IjoiYXVkbyIsImEiOiJjaXZzam83MTMwMDJsMm9td3k3N2RqMHB3In0.kKTgVKGejbZ5c00ib9hBpw#2/18.930672118694446/-26.031425188071893/0

[Titomanereal]

Votes do matter. In some cases a notary node might cost $300 - 500 / month, and those could not be set up without winning a spot with 80-100 % subsidy.

Also some nodes won't get elected even if they need only 0 % subsidy, because we have a maximum number of 16 notary nodes per region. Right now there are 20 notary node participants in EU region and 21 notary node participants in NA region. If you don't get enough votes, you won't get elected.

In these first elections when Komodo is quite unknown and there is a lot of uncertainty the elections are not that big of a thing. Majority of the participants will get elected. However, if the KMD price rises above $0.25 the situation will be very different. Thus there might be a lot of competition in the future elections, and a lot more campaigning done by the notary node candidates.

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.



This seems very unfair neither democratic to me.

[KomodoPlatform]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.



This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

[yubit]

...
We can do the newsletter subscription lottery this week! I'll announce the winners here, and send them email.

Hi! When results will be here?

[Titomanereal]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

[torikan]

I'm tired of waiting. Start a moment Ico I'm very excited. 

[KomodoPlatform]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

[gbdesai]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In USD it should be around 7.5 to 9.3 cents US per KMD based on the final rates published. The higher end if the BTC price is the main measure, the lower number if you factor in the actual value of BTCD.

This of course is an intrinsic value based on investments, market will ultimstely determine the price, right?

[PondSea]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In USD it should be around 7.5 to 9.3 cents US per KMD based on the final rates published. The higher end if the BTC price is the main measure, the lower number if you factor in the actual value of BTCD.

This of course is an intrinsic value based on investments, market will ultimstely determine the price, right?

The figures that were worked out basically means that the KMD mined per node is about $190 at the current ICO price. So the $4000 is roughly 13 nodes at 100%. By lowering the %b we can get it to the magical 16

[Titomanereal]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In the example used it seems
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638
4000$ is 800%
100% is 500$
You are rating kmd 0
If you value KMD price ico. 100% subsidy is not 500 $ is 300$ more or less.
As it says pondsea.

[PondSea]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In the example used it seems
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638
4000$ is 800%
100% is 500$
You are rating kmd 0
If you value KMD price ico. 100% subsidy is not 500 $ is 300$ more or less.
As it says pondsea.

Look at "The Guaranteed Subsidy" section in the same post.

[Titomanereal]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In the example used it seems
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638
4000$ is 800%
100% is 500$
You are rating kmd 0
If you value KMD price ico. 100% subsidy is not 500 $ is 300$ more or less.
As it says pondsea.

Look at "The Guaranteed Subsidy" section in the same post.

In the example 100% subsidy is equivalent to subtract 500 $ from the reserve by region. This will only happen if KMD is 0. Why?
If there are only 8 Nodes with 100% in 1 region and KMD is at ICO price, only $ 2400 not 4000 will be paid.

I'm wrong?

[PondSea]

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.




This seems very unfair neither democratic to me.

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

One last query
Why do you rate kmd in 0 $?
I think KMD should value the ICO price.You really believe that Komodo can be worth $ 0

Thanks

You are misunderstanding something. We don't value KMD as $0.

In the example used it seems
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638
4000$ is 800%
100% is 500$
You are rating kmd 0
If you value KMD price ico. 100% subsidy is not 500 $ is 300$ more or less.
As it says pondsea.

Look at "The Guaranteed Subsidy" section in the same post.

In the example 100% subsidy is equivalent to subtract 500 $ from the reserve by region. This will only happen if KMD is 0. Why?
If there are only 8 Nodes with 100% in 1 region and KMD is at ICO price, only $ 2400 not 4000 will be paid.

I'm wrong?

The example is a example that was added before "The Guaranteed Subsidy" was added.

At current prices the KMD would be worth roughly $190. So for 100% it would be $310 from the $4000. This means 12.9 Nodes could be paid 100% with $4000. Now if we have everyone at 88% we can paid the full 16 nodes the same.

[Titomanereal]

I hope komodoplatform confirms too. 100% subsidy does not equal 500 $ less per region for the elections.

[coinmenace]

When is the BTCD swap going to start? Will the swap also be done in the ICO platform?

[CryptoSporidium]

P-Trump withdraws as a candidate in the node election!
I've come to a mutually beneficial arrangement with one of the current testnet node operators, so I wont be running in the election myself. Please withdraw my name from the election site.

If the election wasn't broken into regions I may have considered running, winning one node, and then hiring a node manager myself, but with four separate regional elections (and a minimum node quota of 1/16 of 100M votes) it seems a better option all around to have things the other way around (i.e. the node manager runs in all four regional elections with my support in exchange for a future profit share, rather than I run for election in a single region and share profits from a single node). It's easier for a node manager to build a viable coalition of support. In later elections things might change, but if a high proportion of votes are cast in the first election I think my chances of winning a node in each region is far less than a current testnet operator.

All the best to everyone running in the election!!

edit:
from now on I'm going to refer to 'votes' as 'shares' in the monopoly profits that are being granted to the node operators. Those monopoly profit shares have been distributed proportionally to all KMD holders. I think it makes it easier to see where things are going. 'Selling votes' doesn't sound very nice, and can be easily misinterpreted, but trading 'monopoly' rights (e.g. carbon trading, mining concessions, water rights etc) doesn't have that 'baggage', and it might make it easier for us all to move from point A, to point B. Every KMD holder has been given a 'share' in the KMD monopoly mining profits, and trading them and using the profits to do something 'useful' is not a bad thing IMO

Who is most entitled to the monopoly KMD mining profits once everything settles down after a few elections? I say it's the KMD holders!

If P-Trump is the running mate ...  who's the candidate?

[airsekui]

The exchange rates got adjusted, based on more accurate calculations:
1 BTC = 7746,521995 KMD
1 BTCD = 50,42041779 KMD

These are now the final numbers!

So this puts the current market equivalent exchange rate to 0.0065 BTC per BTCD. This is much higher than the estimated 0.0043 earlier during the ICO. Anyone buying BTCD now can turn it for profit so long as ICO price is maintained (don't expect for long).

[sambiohazard]

The exchange rates got adjusted, based on more accurate calculations:
1 BTC = 7746,521995 KMD
1 BTCD = 50,42041779 KMD

These are now the final numbers!

So this puts the current market equivalent exchange rate to 0.0065 BTC per BTCD. This is much higher than the estimated 0.0043 earlier during the ICO.

aint it nice, you can still buy BTCD for 50% cheaper. This also makes more profitable for everyone to hold their BTCD and KMD even if it dropped 50% after launch.