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

[jl777]

So will this be part of the  iguana core? Also will you be able to market make other currencies on Bittrex? Maybe polinex when KMD trades on it?

Not part of the iguana core, but part of the iguana app.

any iguana supported currency can be activated

also additional exchanges can be supported and when poloniex adds KMD, of course support for it will be added

[1714796295]

1714796295

[1714796295]

1714796295

[1714796295]

1714796295

[1714796295]

1714796295

[barbierir]

People, this is the kind of conversations that miss by not joining our Slack 

jl777: I had been battling against how to best implement the LP logic. I finally stumbled onto the right solution, at least I am not having "writer's block", which I get when I am trying to do things the wrong way. Until this latest iteration, I was trying to do it a bit backwards, ie. have the client side auction trigger a balancing trade. I wont get into why that is backwards, just try to write it that way and you will see.
Anyway, now I am on the right path and it involves running a full market maker on an exchange so that it is in realtime making the spread on that exchange. Then when a DEX request comes in, it can just adjust the net positions as appropriate and the marketmaker will automatically balance the total exposure (once the bugs are fixed). Another advantage is that the LP marketmaker is a pure external application that calls iguana API so wont affect any non-LP deployments. This separation also makes things a lot easier. I expect some minor changes will be needed in the iguana API to support this, but the layering achieved will be well worth it. To allow a low risk operating mode, I will need to add a special case of a very low activity market maker, but that will be after the normal marketmaker is solid to answer the obvious question, yes, it means that part of the iguana release will include a fully functional market maker for supported exchanges as a side effect of this. Running an active marketmaker will have the usual risks, so it is not for everyone

pondsea: So the lp wont need the currency on hand and could just buy or sell via the exchanges

jl777: it would need to have both sides locally and on the exchange, otherwise how could it do the trades?

pondsea: Ah yeah no api to withdraw from exchange :stuck_out_tongue: How can we improve the security aide of things if we need to hold big amounts of btc/alts to be able to function as a LP? Unless there could be 2 modes? 1 is live/instant but for less spread there is a 2nd option where a contract is setup and the LP has say 24 hours to send the funds? LP still buys/sells at the rate from the exchanges but has to process the withdrawal manually

jl777: I dont like it, adds a lot of trust to the process,  the "instant" will still need to wait for BTC confirms, which isnt instant nowadays, so maybe most people will use it in 0-conf mode with smaller amounts. Since the marketmaker will be part of the iguana desktop app (I am assuming), we will decentralize the marketmaking and anybody can make a market with their parameters via GUI

pondsea: cool :slightly_smiling_face:

jl777: It wont be an advanced market maker, just something you can set your risk capital limits, profit margin and activity level. As long as price doesnt move big distance to never come back to it, you end up making the specified profit margin liquidity of a coin is part of its value, so KMD whales would be motivated to use part of their capital for the marketmaker and incremental losses/profits wont really matter much compared to a whale's capital the first non-braindead version is live on bittrex now doesnt even check available balance or orderstatus yet and already 500+ lines of code. no wonder I didnt want to put this into iguana itself

pondsea: I could be a lab rat if you need someone to test it :grin: Once it is easy enough to run lol

jl777: Actually if you can trade against it on trex to make sure it isnt too easy to manipulate, that would help. It is trading about 0.1 BTC with a 1 % spread. If there is already a bid that is higher or ask that is lower, it doesnt post a quote

pondsea: Will have a look when i get home.

mark81: @jl777 do you mean next iguana app version or iguana core  will be including market maker function?  If iguana app (idex)  would have this function build into in gui level it would draw lot of attention torwards komodo and supernet tech.

jl777: It is a standalone app, so not directly in the core, but it does use iguana core. I assume the desktop iguana app would be able to run it without much problems in order to do LP nodes properly a functioning market maker is required, so it seems it will be part of the iguana app

grewalsatinder: yep, I’ll be including that as a part of EasyDEX GUI :slightly_smiling_face:

jl777: so far it is breaking even but that is due to my setting its profit margin to match the bittrex commissions and there is no DEX side trading yet, that side should be a bit more profitable than the bittrex side, though I could set the profit margin to any arbitrary level, it is good to have KMD spreads at below 0.5% as that makes it one of the lowest spreads out of all the bittrex coins. I am surprised at how many trades it has done (almost 30) in a bit over 12 hours. The following are the current config variables internally:
char *base = "KMD", *rel = "BTC", *name = "komodo", *exchange = "bittrex";
char *apikey = "xxx";
char *apisecret = "ttt";
double profitmargin = 0.0025;
double maxexposure = 1.; // maximum risk level in BTC
double incrratio = 0.1; // max size of each order relative to maxexposure
double start_BTC = 3.15 + 0.10404197;
double start_KMD = 20000 + 1000;

Probably a few more before I am done, already past 700 lines in just a day and a bit and still need to complete the interface to DEX side of things

mark81: To use such tech would be good to make user invest directly to komodo by holding funds on iguana app.  Not much but that would not come for free of work that devs have done.  Also using it would cost fees in komodo.  What you think ?

jl777: yes they need to have matching funds on the iguana side, or it wont work

mark81: I am thinking this tech beyond komodo to other altcoins.  What if iguana market maker becomes cheapest bot technology for market?

jl777: considering that it is free, seems it wins on the cost front

mark81: Yes but thats why user have to invest directly to komodo to get that feature in works?

jl777: the iguana side needs to be funded for the LP code to work

mark81: Plus pay fees with komodo..

jl777: cant enforce that. Just getting liquidity into DEX is adequate compensation, not need to monetize it

mark81: How about users that want to play with centralized exchanges? You have said that supernet should get fees of its services.  So why not allow to use market maker as bot feature on centralized exchanges and get money coming in that way.

jl777: the current bot is using bittrex on one side and DEX on the other

mark81: Tech could introduced free to world first but after period to start monetization.

jl777: by running it the bot node makes incremental profits on the DEX side, so profit motive would be enough to get most all of the market maker bots actively supporting iguana DEX by working via basilisk mode it will be very lightweight to run an LP node. Clearly the more money an LP node can make, the more people will run it, so I intend to make it make money from the DEX also, which will get liquidity coming into DEX and once iguana DEX has real liquidity, then its other advantages makes it a powerful force in the market

mark81: Ok,  cant argue your points.  You have figured thinks pretty well forward :+1: These kind of conversations only drive to one conclusion - - > i must by more komodo and soon!

[jl777]

There was a bugfix released today for komodod to solve a problem with having more than 1000 utxo in the wallet.

It was crashing in the logging code, so after it completed the processing it died in the logging code.

A bit embarassing, but we didnt have any tests with wallets having 1000+ utxo and it was in the new 5% APR code.

If you are running native komodod and have a large number of utxo, it is good to update. It is a local change only and does not affect consensus.

from ~/komodo/src:
./komodo-cli stop
git pull
make
./komodod &

The above will stop komodod, get the new code, build and launch

[R-J-F]

I think we are going to be stuck in holding patten for a while. There are some large holders of this coin. Is there a way to look at the rich list?

That's the thing, most of the KMDs are in the wallet earning interest. There is maybe about 1% of KMD out there being traded in exchanges. We have to think of a better way to gain wider acceptance and popularity , maybe get Andreas Antonopoulos to write a book about KMD. OR if anybody can write a book about KMD (mastering KMD)  and publish it on Amazon .  So far there are books about bitcoin , and ethereum. Just an Idea.

What would publishing a book on KMD achieve?

One word: EXPOSURE

[holydarkness]

I finally decide to install iguana app to try to access my KMD from ICO, downloaded the windows version from supernet, but after finished installation and trying to run the program, it said that the version is not compatible to my windows (currently runnning on win7 32bit). Is there something I missed?

[barbierir]

I finally decide to install iguana app to try to access my KMD from ICO, downloaded the windows version from supernet, but after finished installation and trying to run the program, it said that the version is not compatible to my windows (currently runnning on win7 32bit). Is there something I missed?

Try to install this, 32bit version: https://www.microsoft.com/en-nz/download/details.aspx?id=48145

[mankeen]

24 hr volume has dropped

[BadAss.Sx]

24 hr volume has dropped

So? What's the problem?

[R-J-F]

24 hr volume has dropped

Yea, so? It does happen from time to time ya know.

[hansen.ng]

24 hr volume has dropped

Don't worry, when bitcoin rises in price, All Alts coin will be in the red and volume will drop. It's the cycle. Hakuna Matata. But It will come a time when KMD won't be affected by this. The time is not now.

[DynamicPimp]

Would like to sincerely thank all the dumpers who dumped their coins super cheap to me in this morning well below Ico price...
More for me. Muhhahaha
-DynamicPimp

[holydarkness]

I finally decide to install iguana app to try to access my KMD from ICO, downloaded the windows version from supernet, but after finished installation and trying to run the program, it said that the version is not compatible to my windows (currently runnning on win7 32bit). Is there something I missed?

Try to install this, 32bit version: https://www.microsoft.com/en-nz/download/details.aspx?id=48145

Nope, didn't work. I've tried to reinstall the app too, but the error is still the same. Another suggestion?

[hansen.ng]

I think we are going to be stuck in holding patten for a while. There are some large holders of this coin. Is there a way to look at the rich list?

That's the thing, most of the KMDs are in the wallet earning interest. There is maybe about 1% of KMD out there being traded in exchanges. We have to think of a better way to gain wider acceptance and popularity , maybe get Andreas Antonopoulos to write a book about KMD. OR if anybody can write a book about KMD (mastering KMD)  and publish it on Amazon .  So far there are books about bitcoin , and ethereum. Just an Idea.

What would publishing a book on KMD achieve?

One word: EXPOSURE

I think putting a KMD faucet on supernet page might increase the page rank of supernet website. Another way to increase exposure and wallet download. Currently supernet.org has Alexa Traffic rank of 1,005,696. But maybe now is not a good time to increase wallet download. Wait till a more stable version.

[crackfoo]

Hi,

We've added KMD to the miners multipool: www.zpool.ca

Equihash pool:

http://www.zpool.ca/site/gomining?algo=equihash

Explorer:

http://www.zpool.ca/explorer/KMD

Peers:

http://www.zpool.ca/explorer/peers?id=1902

Blocks found by zpool:

http://www.zpool.ca/site/block?id=1902

Cheers!

[jd1959]

I think we are going to be stuck in holding patten for a while. There are some large holders of this coin. Is there a way to look at the rich list?

That's the thing, most of the KMDs are in the wallet earning interest. There is maybe about 1% of KMD out there being traded in exchanges. We have to think of a better way to gain wider acceptance and popularity , maybe get Andreas Antonopoulos to write a book about KMD. OR if anybody can write a book about KMD (mastering KMD)  and publish it on Amazon .  So far there are books about bitcoin , and ethereum. Just an Idea.

What would publishing a book on KMD achieve?

Good Question. By riding the waves of Bitcoin popularity using keyword such as " bitcoin" and "Cryptocurrency" on amazon ebook and utilizing title such as " Why KMD will be the next Bitcoin and better?" and publishing the ebook for free on amazon. The book will rise in sales rank. At least everybody on this community can use their amazon account to download the free book to help jump start the Amazon best seller rank on the book. (Also writing review and maybe even added it the Amazon wishlist).  Just for info,  currently the book "Mastering Bitcoin" rank 27512 on amazon best seller rank in books category, so that's really good. ( Considering books category has millions of titles).
Also maybe using affiliate marketing. (if somebody bought KMD through the link, the referrer will get a few KMDs.) This is an old trick to launch product. But this is just a thought, of course.

How about hassle free working wallets that would be a great point to Shrill about....getting very tied of reading how great Komodo is, when there is not even easy to use working wallet. Don't get me wrong I see plenty

of potential..........But a long hard road to get there......James is off coding new features like trading bots while the majority of stake holders are still stuck at stage 1 asking how do I find my Balance...How can I move

my coins....You SHRILLS do my head in

Cheers Jon 

[barbierir]

I finally decide to install iguana app to try to access my KMD from ICO, downloaded the windows version from supernet, but after finished installation and trying to run the program, it said that the version is not compatible to my windows (currently runnning on win7 32bit). Is there something I missed?

Try to install this, 32bit version: https://www.microsoft.com/en-nz/download/details.aspx?id=48145

Nope, didn't work. I've tried to reinstall the app too, but the error is still the same. Another suggestion?

Sorry, I sent the question to the tech support guy and I'm waiting for an answer    

PS: Latest estimate for next wallet release is monday, it should fix a lot of windows problems.

[jl777]

I think we are going to be stuck in holding patten for a while. There are some large holders of this coin. Is there a way to look at the rich list?

That's the thing, most of the KMDs are in the wallet earning interest. There is maybe about 1% of KMD out there being traded in exchanges. We have to think of a better way to gain wider acceptance and popularity , maybe get Andreas Antonopoulos to write a book about KMD. OR if anybody can write a book about KMD (mastering KMD)  and publish it on Amazon .  So far there are books about bitcoin , and ethereum. Just an Idea.

What would publishing a book on KMD achieve?

Good Question. By riding the waves of Bitcoin popularity using keyword such as " bitcoin" and "Cryptocurrency" on amazon ebook and utilizing title such as " Why KMD will be the next Bitcoin and better?" and publishing the ebook for free on amazon. The book will rise in sales rank. At least everybody on this community can use their amazon account to download the free book to help jump start the Amazon best seller rank on the book. (Also writing review and maybe even added it the Amazon wishlist).  Just for info,  currently the book "Mastering Bitcoin" rank 27512 on amazon best seller rank in books category, so that's really good. ( Considering books category has millions of titles).
Also maybe using affiliate marketing. (if somebody bought KMD through the link, the referrer will get a few KMDs.) This is an old trick to launch product. But this is just a thought, of course.

How about hassle free working wallets that would be a great point to Shrill about....getting very tied of reading how great Komodo is, when there is not even easy to use working wallet. Don't get me wrong I see plenty

of potential..........But a long hard road to get there......James is off coding new features like trading bots while the majority of stake holders are still stuck at stage 1 asking how do I find my Balance...How can I move

my coins....You SHRILLS do my head in

Cheers Jon 

Not sure why there is this perception that I need to somehow not work on the next thing after I have completed what I am able to do for the current release.

The issues that remain are not anything that I can help with. So, I could just not do any new coding and wait. But that does not seem quite right.

Adding more pressure to the GUI team to release, that I could do, but that would seem counter productive as they are all working hard and making good progress and adding pressure could well just create delay.

Please understand that there is a relatively large team working on komodo and I am doing just the deep core portions. And that by its nature the parts I work on has to be completed before the other parts can be completed, or even started on in some cases.

If it makes you feel better, I do fix any issues with komodod and iguana that are serious bugs at the highest priority, like the overflow crash today. Also, out of the work I am doing on the marketmaker, we were able to get basilisk mode for BTC to work without importaddress and without requiring the notary nodes to run the DEX explorer. This directly relates to the upcoming GUI release, but it only happened as I was creating a new required functionality for the DEX.

Alternatively, I could just not post any details about anything I am working on that is beyond the scope of the current release. However, that would seem to give the "insiders" (people active in slack) a distinct advantage as I do have to communicate what I am doing as it relates to others and that happens in slack.

[Birka]

James, is it possible later down the road to code some kind of dapp where funds would ping pong once a day between two accounts thus generating some coins everyday and automatically converting to USD in PAX?
Stable income babe.

[hansen.ng]

I think we are going to be stuck in holding patten for a while. There are some large holders of this coin. Is there a way to look at the rich list?

That's the thing, most of the KMDs are in the wallet earning interest. There is maybe about 1% of KMD out there being traded in exchanges. We have to think of a better way to gain wider acceptance and popularity , maybe get Andreas Antonopoulos to write a book about KMD. OR if anybody can write a book about KMD (mastering KMD)  and publish it on Amazon .  So far there are books about bitcoin , and ethereum. Just an Idea.

What would publishing a book on KMD achieve?

Good Question. By riding the waves of Bitcoin popularity using keyword such as " bitcoin" and "Cryptocurrency" on amazon ebook and utilizing title such as " Why KMD will be the next Bitcoin and better?" and publishing the ebook for free on amazon. The book will rise in sales rank. At least everybody on this community can use their amazon account to download the free book to help jump start the Amazon best seller rank on the book. (Also writing review and maybe even added it the Amazon wishlist).  Just for info,  currently the book "Mastering Bitcoin" rank 27512 on amazon best seller rank in books category, so that's really good. ( Considering books category has millions of titles).
Also maybe using affiliate marketing. (if somebody bought KMD through the link, the referrer will get a few KMDs.) This is an old trick to launch product. But this is just a thought, of course.

How about hassle free working wallets that would be a great point to Shrill about....getting very tied of reading how great Komodo is, when there is not even easy to use working wallet. Don't get me wrong I see plenty

of potential..........But a long hard road to get there......James is off coding new features like trading bots while the majority of stake holders are still stuck at stage 1 asking how do I find my Balance...How can I move

my coins....You SHRILLS do my head in

Cheers Jon  

You do have a point, I guess we just have to wait till the basics are taken care of before "Shrilling it out there". The thing is though the wallet was just launch not too long ago and they have got many bugs fixed and of course there will be many bugs down the road that yet to be discovered, that's the nature of programming. Compare to other cryptocurrencies out there, this team move way faster than any other team out there. Heck, even comcast takes 1 month to come to my house to fix my cable - something that is supposedly stable.

[Odrak]

I finally decide to install iguana app to try to access my KMD from ICO, downloaded the windows version from supernet, but after finished installation and trying to run the program, it said that the version is not compatible to my windows (currently runnning on win7 32bit). Is there something I missed?

Try to install this, 32bit version: https://www.microsoft.com/en-nz/download/details.aspx?id=48145

Nope, didn't work. I've tried to reinstall the app too, but the error is still the same. Another suggestion?

Two suggestions:

1. Could you try right clicking the shortcut and run as administrator, see if anything is different.
2. Again right click the shortcut, go to Properties then Compatibility > Run in Compatibility mode. Again see if anything is different.