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

[Bergmannx]

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.

Well, I'm speaking of an attacker who is draining limited accounts with ridiculously high bids on low volume coins.
BTCD is not the only coin, that shot up magically.

[1714021271]

1714021271

[1714021271]

1714021271

[tclo]

Well, I'm speaking of an attacker who is draining limited accounts with ridiculously high bids on low volume coins.
BTCD is not the only coin, that shot up magically.

It this a weird fantasy of yours or is there some news about this?   More likely a hacker with access to an account would withdraw the funds and not go in there and try to lose them (making other random people profits at the same time).  Sure they could do it for the "lulz", but extremely unlikely.

[tclo]

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

So BTCD and UNITY are both rallying hard.  I'm buying some more KMD as soon as I can get funds to Bittrex.

And I can't believe I didn't think about buying UNITY in advance of the conference. I posted here about KMD probably running up in anticipation of the high profile presentation, but I didn't even think about those other two or act on it.  

The only thing worse than being wrong is being right and not acting on it.

[Bergmannx]

Well, I'm speaking of an attacker who is draining limited accounts with ridiculously high bids on low volume coins.
BTCD is not the only coin, that shot up magically.

It this a weird fantasy of yours or is there some news about this?   More likely a hacker with access to an account would withdraw the funds and not go in there and try to lose them (making other random people profits at the same time).  Sure they could do it for the "lulz", but extremely unlikely.

That's why I spoke from limited accounts.

[jl777]

Well, I'm speaking of an attacker who is draining limited accounts with ridiculously high bids on low volume coins.
BTCD is not the only coin, that shot up magically.

It this a weird fantasy of yours or is there some news about this?   More likely a hacker with access to an account would withdraw the funds and not go in there and try to lose them (making other random people profits at the same time).  Sure they could do it for the "lulz", but extremely unlikely.

That's why I spoke from limited accounts.

If accounts with trade enabled but withdraw disabled were compromised, what you talk about is the way attacker would transfer value out. Buy up low volume coins from different accounts, then buy with the BTC in the compromised account. Now N accounts all have BTC at big multiples, so even the $2000/day limit is bypassed.

It is a theory.

But once a pump starts for whatever reason on polo, anything can happen.

[TheOATeam]

So confused. I started mining on luckpool, and created a wallet address with Agama. When I restarted my PC running the Agama wallet, the address is changed. Does this mean that payments will be sent to an inaccessible address, unless I change it to the current one??

[Johnny00]

anyone having issues with the Komodo ICO. it's saying my address isn't registered now.

[Johnny00]

anyone having issues with the Komodo ICO. it's saying my address isn't registered now.

Now it's saying my 2FA is wrong? anything i can do

[Johnny00]

anyone having issues with the Komodo ICO. it's saying my address isn't registered now.

Now it's saying my 2FA is wrong? anything i can do

nevermind just took a long time to load. I'll try and withdraw my funds now.

[KomodoPlatform]

So confused. I started mining on luckpool, and created a wallet address with Agama. When I restarted my PC running the Agama wallet, the address is changed. Does this mean that payments will be sent to an inaccessible address, unless I change it to the current one??

Check your seed. Each seed always generates the same address in Basilisk Mode.

[tclo]

=
If accounts with trade enabled but withdraw disabled were compromised, what you talk about is the way attacker would transfer value out. Buy up low volume coins from different accounts, then buy with the BTC in the compromised account. Now N accounts all have BTC at big multiples, so even the $2000/day limit is bypassed.

It is a theory.

But once a pump starts for whatever reason on polo, anything can happen.

If someone has 2FA enabled, then you need it to log in and also for withdrawals.  If someone doesn't have 2fa enabled, then you don't need it for withdrawls.   So if you can get in the acct, you can withdraw the funds.  And who would have an acct with withdraw disabled?  And if it is disabled, you could likely enable it with whatever tools and info you had to login to the acct.

So it's still a wild theory, but I suppose not impossible.  And I suppose yes you could use your own account and sell to whoever's acct you hacked to buy too high.  But would look suspicious and Polo could lock your acct.  

But yes, agreed that many crazy pumps on Polo and that could just be the reason.

[jl777]

=
If accounts with trade enabled but withdraw disabled were compromised, what you talk about is the way attacker would transfer value out. Buy up low volume coins from different accounts, then buy with the BTC in the compromised account. Now N accounts all have BTC at big multiples, so even the $2000/day limit is bypassed.

It is a theory.

But once a pump starts for whatever reason on polo, anything can happen.

If someone has 2FA enabled, then you need it to log in and also for withdrawals.  If someone doesn't have 2fa enabled, then you don't need it for withdrawls.   So if you can get in the acct, you can withdraw the funds.  And who would have an acct with withdraw disabled?  And if it is disabled, you could likely enable it with whatever tools and info you had to login to the acct.

So it's still a wild theory, but I suppose not impossible.  And I suppose yes you could use your own account and sell to whoever's acct you hacked to buy too high.  But would look suspicious and Polo could lock your acct.  

But yes, agreed that many crazy pumps on Polo and that could just be the reason.

You forget about API keys, which are most usually set with withdraw disabled, but obviously trade enabled.

so maybe somebody's bot's api key was compromised.

As good  theory to explain BTCD at double KMD market cap as any

[Johnny00]

I'm on the ICO site trying to withdrawal but no withdrawal button.

[KomodoPlatform]

I'm on the ICO site trying to withdrawal but no withdrawal button.

There are instructions in the second comment of this thread. Basically you will have to go to the 'PAYOUT' tab. Please make sure you have the correct 12 word seed saved.

Payouts (withdrawals) are processed manually, next one in ~two weeks and after that they will be done monthly.

[Skalpell]

I'm on the ICO site trying to withdrawal but no withdrawal button.

There are instructions in the second comment of this thread. Basically you will have to go to the 'PAYOUT' tab. Please make sure you have the correct 12 word seed saved.

Payouts (withdrawals) are processed manually, next one in ~two weeks and after that they will be done monthly.

We are still waiting for last Fridays one, Bittrex wallet was unoperative so there was no way to put a KMD address to get the coins into Bittrex. Therefore it should be done tomorrow or  Wednesday the latest, right?

[Johnny00]

I'm on the ICO site trying to withdrawal but no withdrawal button.

There are instructions in the second comment of this thread. Basically you will have to go to the 'PAYOUT' tab. Please make sure you have the correct 12 word seed saved.

Payouts (withdrawals) are processed manually, next one in ~two weeks and after that they will be done monthly.

I am on the payout page and it says my KMD balance is zero

[komodomining]

i fix all issues (also in node code too) and pool works very well now.
Komodo daemon in 2x faster now, nice work jl777!

i add port 6666 for big gpus rigs with max diff(16)
( !! NOT USE ZCASH ADDRESS to T-ADDRESS AND Z_ADDRESS !! )

HOW TO CONNECT
To mine KMD just use any ZCASH (EquiHash) miner with komodo address
example : ZecMiner64.exe -zpool komodominingpool.com:5555 -zwal komodo_address -zpsw x -allpools 1 ( Auto VarDiff - suitable for CPU and GPU )
example : ZecMiner64.exe -zpool komodominingpool.com:6666 -zwal komodo_address -zpsw x -allpools 1 (Max VarDiff - suitable for big GPUs RIG )

Happy mining komodo users
Cheers
 
[/quote]

When should we expect payouts ? also i'm missing statistics in the pool for recent blocks, projected payout based on shares and all info related to payments.
[/quote]

hi, payment done, sorry for delay but we discover an issue on address that has stopped payments .. we have fix it.

here last payment transaction : https://kpx.io/transactions/a35c673de49bc2134476ff07b2babf709fe7efaebeff24c1b25294a0c296ebf6

it's seems that all work fine now,

happy mining
cheers

[Thenoticer]

@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.

Regarding point 3. I am understanding that kmd is burned when issueing pax. When converting pax back to kmd, I am a little confused. [I assumed the kmd was locked (not burned) and unusable when converted to pax until unlocked when converted back from pax, and the pax burned. ]

Based on your reply, do I understand right that there is a pool of kmd set aside by the developers that gets dipped into when converting pax back to kmd? And because you don't think redeems will be an issue this pool will never go dry?

[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.

Regarding point 3. I am understanding that kmd is burned when issueing pax. When converting pax back to kmd, I am a little confused. [I assumed the kmd was locked (not burned) and unusable when converted to pax until unlocked when converted back from pax, and the pax burned. ]

Based on your reply, do I understand right that there is a pool of kmd set aside by the developers that gets dipped into when converting pax back to kmd? And because you don't think redeems will be an issue this pool will never go dry?

Lock/Unlock
Burn/Recreate

these are really the same effect.

So the reserve is only for net shortfall, ie. if it will need more KMD to recreate the USD value than was burned.

But the practical conversion is pax -> BTC, so to convert to KMD and then to BTC will be an extra step and the conversion to KMD is not fast. By directly being able t DEX from pax -> BTC, it will be faster and also avoids the issue. Since the supply is strictly limited, I dont forsee any large demand to redeem.

Of course if there is, we will allow such redeems.

[tclo]

I managed to pick up some more KMD at .00010.  With the conference coming up, seems like a no brainer, especially because it almost hit .00013 earlier today.

And UNITY and BTCD are still way, way up on Polo...a lot more than KMD, so just seemed smart to add here.

BTCD: +322%
UNITY: +122%
KMD: +30%

Volume on BIttrex for KMD is over 100 BTC today.  That is great and hopefully Polo will notice, although may take more high volume days for them to seriously consider it.  I remember when STEEM was going nuts and took them a long time to add it.