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

[jl777]

Hi! Can someone please explain how we can swap KMD for USD "PAX" currency through CLI? Also, how we can do reverse operation, USD > KMD? Are there any fees?
Thanks!

With PAX1 we are limiting the total amount that can be issued per currency so we can get the foundational aspects validated in the field for PAX2. PAX2 will have a lot more dynamic inventory creation enabled.

With current PAX, there is the paxdeposit CLI command

./komodo-cli paxdeposit <KMDaddress> <amount> <currency>

eg. .komodo-cli paxdeposit RSXGTHQSqwcMw1vowKfEE7sQ8fAmv1tmso 1 usd

The above will convert 1 USD worth of KMD into pax USD.

For the reverse, we will be setting up LP nodes to do atomic swaps so you can go directly from pax USD <-> BTC, in addition to USD <-> KMD and if there are LP nodes that want to setup a forex from USD <-> (other fiats).

I was just in the process of validating this part when the attacks hit, so will be going back to it this week. Currently the LP nodes are not live, but when the code is ready, anybody will be able to be an LP node. KMD decentralizes liquidity providing. Even a basilisk node will be able to be an LP node. That has taken a bit more work, but I feel it is the more practical approach as this way anybody can be an LP node just by clicking a few fields in the GUI (not ready yet) without needing to download the entire blockchain.

We will be looking for testers for LP nodes in April, especially if you can do command line

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[sony87]

http://www.komodominingpool.com stopped working, please fix the issue and let us know when we should expect payments, it's almost a day with no payments

so pool and web is down, 83 blocks left for the owner and all of us mining there are fucked up, thanks !

[msmde]

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get an error when running on ubuntu 16.04.2 LTS. anything I can do?

Stop trolling, you are really not good at this.

i don't even understand what the error is...what do you mean?

[R-J-F]

One small suggestion. Installed Agama for Windows, working perfectly and no problem installing (Win 7 P and 10.1) The screen that appears when the wallet starts with the concentric moving circles REALLY needs a better explanation. If you don't stare at it, you don't see the changing text showing what is being downloaded and what's happening in the background. Just a quick line at the top saying something like "Downloading... xxx% done." would make a world of difference. I realize there is an event counter going on but, not intuitive. That's all from an old C++ and Visual basic coder!  (Progress bars are nicer, those circles tend to hypnotize after a while)

[sherm77]

All,

http://luckpool.org is available as of last night for Komodo mining!  We've found 35 blocks so far!  Currently there is 18K sol/s hash power running on Komodo, so get in and get your lizards!  luckpool.org:3857 plus your KMD address is what you need to mine.  

- Cpu
- GPU
- miningrigrentals.com rentals
- Nicehash.com rentals

Hellcatz (owner & dev of luckpool.org) and I tested for a week, even through the attacks.  Wallet is up-to-date and paying as you would expect.  Also, Hellcatz has put some great stats on the http://luckpool.org/stats page that you won't see anywhere else.  If you have suggestions, he's open to enhancements.

There is a 1% pool fee for the komodo pool.  The zcash & zclassic pools on http://luckpool.org fees & zcash miner lottery are explained on the main page.  .5% dev fee for the zcash & zclassic pools.  Any changes will be noted there or visit the Luckpool Lobby channel at the top of the page, talk to Hellcatz directly there.

http://luckpool.org - mine your Komodo there!  It's like solo mining, but you get paid faster and all the hard work is done for you already!

Let us know what you think!

Not sure who our new miner is (outside Hellcatz and I), but I'm donating my rig power to them for several hours.  If you switch to http://luckpool.org, send me your KMD address and I'll verify and will randomly give additional hashpower over a couple days.  This is just an extra that I decided to do, kick the tires at http://luckpool.org and get some free hashes.  I don't obligate Hellcatz or Luckpool.org in my doing this or promise any length or sol/s, just random donations of power.

[BigCat45]

I've got Kaspersky blocking new Agama wallet too.

[belowizard]

does anybody know when bittrex will activate the wallet again? ty

[syberwolfen]

which pool should we use to do cpu mining

[super55]

All,

http://luckpool.org is available as of last night for Komodo mining!  We've found 35 blocks so far!  Currently there is 18K sol/s hash power running on Komodo, so get in and get your lizards!  luckpool.org:3857 plus your KMD address is what you need to mine.  

- Cpu
- GPU
- miningrigrentals.com rentals
- Nicehash.com rentals

Hellcatz (owner & dev of luckpool.org) and I tested for a week, even through the attacks.  Wallet is up-to-date and paying as you would expect.  Also, Hellcatz has put some great stats on the http://luckpool.org/stats page that you won't see anywhere else.  If you have suggestions, he's open to enhancements.

There is a 1% pool fee for the komodo pool.  The zcash & zclassic pools on http://luckpool.org fees & zcash miner lottery are explained on the main page.  .5% dev fee for the zcash & zclassic pools.  Any changes will be noted there or visit the Luckpool Lobby channel at the top of the page, talk to Hellcatz directly there.

http://luckpool.org - mine your Komodo there!  It's like solo mining, but you get paid faster and all the hard work is done for you already!

Let us know what you think!

Not sure who our new miner is (outside Hellcatz and I), but I'm donating my rig power to them for several hours.  If you switch to http://luckpool.org, send me your KMD address and I'll verify and will randomly give additional hashpower over a couple days.  This is just an extra that I decided to do, kick the tires at http://luckpool.org and get some free hashes.  I don't obligate Hellcatz or Luckpool.org in my doing this or promise any length or sol/s, just random donations of power.

Thanks man for the extra rig power 

I'm CPU mining with my old pc...so better used it to mine than letting it sitting around, lol 

[super55]

which pool should we use to do cpu mining

Not many pool are active, so maybe try mining with luckpool.org ....i mining my cpu there too.

[bitstreetbankster]

@jl777 - thanks for your answer!

I'm really curious about this tech, so if you don't mind, I have couple more questions:

The above will convert 1 USD worth of KMD into pax USD.

1. How does PAX know current KMD/USD rate?

2. If I convert some KMD to USD now, on PAX1, will that USD be "reachable/valid" after you release PAX2 with dynamic supply?

3. Scenario: User converts 100 KMD at rate 1 USD/KMD, so he gets 100 PAX USD. In the meantime, KMD price falls to 0.5 USD/KMD. Now he converts 100 PAX USD to KMD and gets 200 KMD. From where does that 100 KMD comes from? Also, where does initially converted KMD "go"?

Thanks! This is really interesting, very cool.

[clovis A.]

Looks like KMD is about to have it's head back above the ICO water level

[tclo]

Try closing every iguana/agama process and then restart agama
Hope it helps, has for me

Tried to do so several times.
But still stuck at "Starting Iguana daemon...".
Is it normal that I have 3 process Agama.exe in task manager?

When I have issues with it, I go into Task Manager and stop all the Agama related processes.  You can tell by the icon which ones apply.  But I've had to end/stop 3 or 4 of them before.  Then just launch the program again.

[jl777]

@jl777 - thanks for your answer!

I'm really curious about this tech, so if you don't mind, I have couple more questions:

The above will convert 1 USD worth of KMD into pax USD.

1. How does PAX know current KMD/USD rate?

2. If I convert some KMD to USD now, on PAX1, will that USD be "reachable/valid" after you release PAX2 with dynamic supply?

3. Scenario: User converts 100 KMD at rate 1 USD/KMD, so he gets 100 PAX USD. In the meantime, KMD price falls to 0.5 USD/KMD. Now he converts 100 PAX USD to KMD and gets 200 KMD. From where does that 100 KMD comes from? Also, where does initially converted KMD "go"?

Thanks! This is really interesting, very cool.

1. Notary nodes are putting price feed into the blocks they mine. From this data a process similar to what Augur uses calculates a determistic price by all nodes that requires a 51% attack to change the price to a fake price. Each node has a paxprice cli call that you can see what the price is for that block.

2. PAX2 will of course honor all PAX1 positions, it will likely be a gradual transition process as more and more of PAX2 features are added to PAX1, until one day it is PAX2

3. The conversion process burns the KMD by using an OP_RETURN. Assuming a stable price, over time the deposits and withdraws will cancel out any gains/losses. However as a worst case meltdown scenario, we have set aside enough KMD to absorb conversions that use up the KMD. This is why PAX2 is needed before we remove the volume caps on issuable amounts so that the risk is always limited to absorbable levels.

To handle a BTC and/or KMD meltdown scenario, there is a floor price of 2500 sats that the conversion wont go below. Since this is approx the BTC reserves I felt it a reasonable floor price. Given a floor price, the max exposure can be calculated.

However due to the limited amount issuable with PAX1, I dont think redeems will be an issue and that all the issued PAX currencies will simply circulate around in the ecosystem. Since KMD is burned to issue the PAX, as long as BTC and KMD are long term increasing, PAX usage will actually create more KMD.

[KomodoPlatform]

[yassin54]

Twitter : https://twitter.com/SuperNETorg/status/846386237200109568

Reddit : https://www.reddit.com/r/komodoplatform/comments/61swgq/9_days_left_meet_us_at_blockshow2017_in_munich/

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/430735877272989/?type=3&theater

News SuperNET : http://news.supernet.org/posts/xz6uZojZpKDGozR3T/9-days-left-meet-us-at-blockshow2017-in-munich-learn-how-you

[tclo]

What is going on?  BTCD is up 400% on Poloniex.   I would think this would have to be good for KMD, for obvious reasons, but very odd market action.

Maybe it is just a pump.  The overwhelming majority of BTCD has already been swapped for KMD, so the supply out there is very thin.   Anyway I am tempted to buy some more KMD right now on Bittrex.  You can't deposit KMD, but can still deposit BTC.

[yassin54]

What is going on?  BTCD is up 400% on Poloniex.   I would think this would have to be good for KMD, for obvious reasons, but very odd market action.

Maybe it is just a pump.  The overwhelming majority of BTCD has already been swapped for KMD, so the supply out there is very thin.   Anyway I am tempted to buy some more KMD right now on Bittrex.  You can't deposit KMD, but can still deposit BTC.

Also SuperNET https://www.poloniex.com/exchange#btc_unity  

[Bergmannx]

Guess someone got access to some accounts and is cashing out on polo.
Hope you got 2FA enabled.

[tclo]

Guess someone got access to some accounts and is cashing out on polo.
Hope you got 2FA enabled.

You aren't making any sense.  People cashing out of BTCD would cause the price to drop, not rise 400%.

And this is probably just a pump, but still good for KMD, because will put it on more people's radar and it's already in an uptrend.  It also makes it more likely it will be added to Poloniex, although probably not a lot more likely.