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

[tclo]

BTCD price is rising quickly now that the BTCD  KMD swap has officially begun.. 
 
Remember that .00651 is equivalent to the ICO price, so still plenty more room to run up before the swap and afterwards as well.

Current BTCD Price (Poloniex):  .00400 BTCD/BTC

Current BTC/BTCD rate: 250 : 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: 12605.104 (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: +4858.582 KMD or +62.72% 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/

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[tclo]

If you swap before the BTCD snapshot date, you will also receive REVS asset.

Very misleading phrase on swap page.
It can be read so that if you do not swap before snapshot you will not get REVS

Yea, that needs to be changed since you can either leave your BTCD in your wallet until the snapshot and receive REVS or send your BTCD  to the KMD ICO site there by swapping them for KMD and receive the REVES asset as long as you do it within one week (prior to snapshot).

Remember, getting REVS through the ICO site was a recent addition. Originally you had to have BTCD in your wallet and wait for the snapshot.

At least thats how I understand it, please correct me if I'm wrong or left something out.

Yes I was confused and I knew I wasn't the only one.  It is not phrased very well.  I don't know if that is intentional or accidental, but is creating unnecessary confusion.

[jwiz168]

I just finished swapping my btcd. Its a better way to start as I await for three more weeks before KMD starts being distributed.

[tclo]

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

[dzarmush]

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.

[tyoprase95]

 I've just submitted a request too

[animalroam]

Can we make multiple deposits to the same address?

[Papski]

Can we make multiple deposits to the same address?

Yes, I think.

[Karasugoi]

Can we make multiple deposits to the same address?

I did.  Worked fine.  It is essentially a wallet,  you can see the transactions with the explorer.

[Amalgamus]

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/

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

[lovely89]

Finally we can swap our btcd.

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

[farl4web]

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). 

[ptytrader]

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

[hansen.ng]

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

[gbdesai]

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

[KomodoPlatform]

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.

[gbdesai]

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]

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! 

[hansen.ng]

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?

[courage11]

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