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

[yassin54]

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

http://eepurl.com/cwJxMX

Twitter : https://twitter.com/KomodoPlatform/status/818400225463271424

Reddit : https://www.reddit.com/r/komodoplatform/comments/5mwxae/komodo_is_ready_for_launch_anonymous_transactions/

Facebook : https://www.facebook.com/KomodoPlatform/posts/391746277838616

Reddit : http://news.supernet.org/posts/pCNhrC8WrwAhPT2v4/komodo-is-ready-for-launch-anonymous-transactions-fiat

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[rnr]

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  ): https://bitcointalk.org/index.php?topic=1605144.msg17227729#msg17227729  

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]

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

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]

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]

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

[tclo]

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]

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.

[dzarmush]

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

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]

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

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.

[Fishdude1]

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

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]

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.

[tclo]

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?

Yes you receive less and less KMD per BTCD every day, so makes sense to swap it as soon as possible.

[wosch76]

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.

Is there already an instruction for the swap from local wallets?
Where should the priv keys be sended to? should all btcd be pooled in one adress only?
when will this process start? right after the snapshot?
thank you

[Wexfgy12]

what is the "Private key" needed to access the REVS asset in future? The 12 word seed in our ICO account? or something else?

[wosch76]

what is the "Private key" needed to access the REVS asset in future? The 12 word seed in our ICO account? or something else?

It should be the private key of the address(es) in the BTCD Qt-Wallet.

[tclo]

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.

Is there already an instruction for the swap from local wallets?
Where should the priv keys be sended to? should all btcd be pooled in one adress only?
when will this process start? right after the snapshot?
thank you

There are no instructions yet, except be sure to be able to access the private keys for the BTCD that you are holding.   And you don't need all the BTCD in one address, although might be simpler for you that way.

I assume that after the snapshot, we move it all to a different public address, because we obviously aren't going to give anyone our private key.  But should still work to get the REVS at that point, even if the balance at that address is 0 after the snapshot.

[tclo]

what is the "Private key" needed to access the REVS asset in future? The 12 word seed in our ICO account? or something else?

You don't need the private key unless you are holding BTCD in your own wallet.  In that case, you need the private key for each BTCD address that has funds in it.  You can get this from using dumpprivkey command from the Console in the BitcoinDark QT wallet.

[tiagoengineer]

I accidentally sent my BTCD to my KMD address instead of the swap
. I have the seed for my KMD address . How do I recover my BTCD ?

[jl777]

I accidentally sent my BTCD to my KMD address instead of the swap
. I have the seed for my KMD address . How do I recover my BTCD ?

importprivkey into BTCD wallet using the KMD wif

[farl4web]

Elections are on the way...exciting times. 

I would appreciate votes on my two nodes. I have been active updating my nodes the past months and like to continue this for the coming year. Be sure to check out my updated candidate-page: https://www.komodoelection.com/candidates/farl4bit/

Thanks a lot!