[ANN][XRY] Royalties - ICO | Cryptonote | Upto 15% Interest on Deposits

[Skittlz]

HugeCoin has been changed to Royalties (This name has come from samsmith16, as well as a lot of the new additions)

ICO Started Saturday, 1 July 2017 0038 (GMT)
ICO Ended Wednesday, 5 July 2017 0450 (GMT)

https://i.imgur.com/v3lm67Q.png

   Name: Royalties
   Year Interest rate: 15% (on Term Deposits)
   Total coins: 18,446,744,073,709 (6 decimals)
   ICO: 0.1% (No development permined)
   Block time target: 2 Minutes
   Block reward: 100Rp (10x increase every year [264,000 blocks], max 10R )
   Algo: Cryptonight
   Ticker: XRY

   Decimal breakdown:
            1.000000   =      1R            
            0.100000   =   100Rp         
            0.010000   =    10Rp
            0.001000   =      1Rp
            0.000100   =   100Ri
            0.000010   =     10Ri
            0.000001   =      1Ri   

          Decimal Terms:
            0.001 -         Rp    Royal points
            0.000001 -    Ri     Royal bits

About Royalties
Royalties is a fork of XDN (DigitalNote) and will have the same linear interest formula as the original code to start with. We understand that this linear formula doesn't make locking up your coins for longer terms better. Meaning we know that most will manually compound your deposits. By depositing for 1 month and after that month redeposit the total sum, over and over. The formula should be compounding, and in Deposits 2.0 we will bring a better deposit structure. We need development funds from the ICO to do this and many other changes. With saying that, and to keep with the higher number of coin from HugeCoin we will be giving a 250x multiplier on deposit interest for 3,600 blocks (~5 day). This will help create the liquidity we see a crypto needing for the future, as well as give the ICO backers a bounce and encourage deposits. Deposits will be a huge part of keeping the price of Royalties stable, as well as help bring more coins to the market.  

Block reward
Block rewards start out a little different, they start small and get bigger as the network grows and so does the cost of mining. Yes block rewards are part of the network security. However if at the beginning we have 100 Transactions per day and the blockchain is still a small file. Its like the differences between securing a home WIFI and all of Google. At the beginning Bitcoin was producing about 7,200 coins per day and now about 1,800. By year 2 Royalties will be producing 7,200 or 5,400 more coins than Bitcoin is now per day. So Royalties will be producing the same amount of coins per day, that Bitcoin did in the beginning, only Royalties will do this until Total supply is reached.


ICO
The ICO will be capped at 15 Bitcoins and will be ran anonymously, I don't want to know your IP, your name or your email address. I simply need signature proof that you are the one who sent the Bitcoins and I need your Royalties address at launch. A few things must be stressed here you must have signing rights to the Bitcoin address you send from, this means no exchanges or sending from a mixer. This is because once we hit that 15 BTC max all coins past that will be returned to the sending addresses. Also if bitcoins are received and no communication has been made, with whom sent them and proof, they will be returned. The ICO address is not for donations, there will be a separate address for that. The last part of the anonymous ICO is that a stealth Bitcoin address will be used. No one will know your sending address except for me. Use the address below to send your Bitcoin.

Code:

Removed ICO is full              

Validate your ICO Contribution
We well be using the encrypted messaging feature of the Royalties wallet, as well as the DigitalNotes wallet (get XDN here http://digitalnote.org/)

Here is the XRY address to send your message.

Code:

XRY1So7woYdgbVDZXRRDFRL77DbXKCCQ92RGngs2aEviAL6v4pY2qcBbSGL3WgsUNVEAtUPZU22dhT5z2ihUFTPA6o8aUvtG9D

Here is the XDN address to send your message.

Code:

dde6nZQKdgzewZBTgfxVn9QthWkoRyiVxPZtFv7fUPcKTKRiZZt4UjURT1NwJUKh8hTUr5QVwCJSX6Vb5TwS35AQ1MnuLvfJh

Please check the "Add Reply To" box so we can communicate, if you do want to validate before the Royalties wallet is released, just know you will need to send a second message with your Royalties address. In your encrypted message you will need to sign a Bitcoin message and look like the below example.

Encrypted Wallet Message

• Bitcoin address
• Message
• Signature

This is what the Bitcoin message should have in it.
Bitcoin Message

• ICO amount
• Royalties address

Exchanges

Cryptopia
XRY/BTC
XRY/LTC
XRY/DOGE



Info

Royalties Foundation Website
https://xry.io/

Live Block Explorer
http://xryexplorer.info/




Social Media

Twitter
Foundation
@RoyaltiesGroup
samsmith
@RoyalCipher

Foundation Slack
x-r-y.slack.com
Join



Royalties GitHub

Royalties GUI Wallet
https://github.com/Vetro7/RoyaltiesGUI/releases/tag/v0.1.0

Royalties Command-line Wallet
https://github.com/Vetro7/RoyaltiesCLI/releases/tag/v0.1.0

Royalties Block Explorer code
https://github.com/Vetro7/RoyaltiesBE



Royalties CPU solo mining guide

https://bitcointalk.org/index.php?topic=2042721.0



Please send donations to the XRY address below.

Code:

XRY1So7woYdgbVDZXRRDFRL77DbXKCCQ92RGngs2aEviAL6v4pY2qcBbSGL3WgsUNVEAtUPZU22dhT5z2ihUFTPA6o8aUvtG9D

[1715336564]

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[1715336564]

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[1715336564]

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[1715336564]

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[1715336564]

1715336564

[Skittlz]

RoadMap

• Initial launch
• Deposits 2.0
• GUI wallet 0.2.0
• Cloud wallet

Initial launch
Our goal is to have both the command line (simple wallet) and GUI wallets release by Monday, 10 July, we plan to release binaries for all 3 operating systems. This will have the linear interest rate formula still from XDN, until Deposits 2.0 However we did add sorting to the table (something missing from XDN) which defaults to the soonest to unlock at the top of the list on down. With Royalties having a year interest rate of 15% and a min. deposit term of ~1 month (22,000 blocks) the rates will look like this.

Months    Interest Rate
  1             1.25%
  2             2.50%
  3             3.75%
  4             5.00%
  5             6.25%
  6             7.50%
  7             8.75%
  8            10.00%
  9            11.25%
 10            12.50%
 11            13.75%
 12            15.00%


Deposits 2.0
This is where we will put the ICO funds to good use and things get exciting for deposits. Three main things will be added/changed in Deposits 2.0, we will be adding compounded interest, sending address and 2 week payouts. So first interest will be compounded 2 times per month (except for a 1 month term) and we will also be extending the max term past 1 year, it will then be 5yr max. Second we will be adding a "send field" to the deposits tab, this will allow users to send others a term deposit. The final addition in Deposits 2.0 will be 2 week payouts, what this means is that your interest will be paid to you in evenly 2 week payout intervals. The principle, however remains locked until the last 2 week payout. So take 2 months with a 1,000 XRY deposit, lets say you earn 10 XRY interest. How that works is you will get 4 payouts, 2 weeks apart, the first 3 will be 2.5 XRY and the last will be 1002.5 XRY. This will all be handled on the blockchain in your own wallet.
Here is the purposed interest rates for Deposits 2.0 (mind you this is compounded interest 2 times per month)

1 to 5 months             6% APR
6 to 11 months            9% APR
1 to 4 years               12% APR
5 years                      15% APR

GUI wallet 0.2.0
Plans for this are still very preliminary, we just know the current look of the XDN GUI wallet needs a big style upgrade.

Cloud wallet
This will be just as you would think, its a web/app interface that allows you access to a Royalties wallet. You will be able to make a deposit with the Cloud Wallet, however the private key will be held by your account on the Cloud Wallet. This will allow for you to sell a term deposit before its term has ended as well as recover your account (in a secure way of course) if you should ever happen to lose your passphrase. You will also have the option to remove your deposits off the Cloud Wallet and assume 100% ownership and accountability, this will be done by handing the private key over to you.

[Sarisang]

Total coins: 18,446,744,073,709.551616

I think too many total HUGEcoins dev
not effective

[Skittlz]

Total coins: 18,446,744,073,709.551616

I think too many total HUGEcoins dev
not effective

Well its all about the decimal, really its the same amount of units as other cryptonote coins, they just put the decimal in a different place.


18,446,744.073709551616     -12  (monero)
184,467,440,737.09551616    -8   (bytecoin)
18,446,744,073,709.551616   -6   (Royalties)

[amy1284455127]

Please post more detailed information......

[Skittlz]

Please post more detailed information......

What would you like me to expand on?

[Dlugina23]

Any bounty for twitter and fb?

[Skittlz]

Any bounty for twitter and fb?

For sure we will have a HUGE reserve to do this kind of stuff with.

More on this will follow after the ICO update

edit
The development team will no longer be getting a premined amount of coins, this doesn't mean we will not be giving out Royalties that we bring in from donations.

[nagatraju]

Launch date?

Are you come with mining software (inbuilt or 3rd party)?

[bspus]

Total coins: 18,446,744,073,709.551616

I think too many total HUGEcoins dev
not effective

Well its all about the decimal, really its the same amount of units as other cryptonote coins, they just put the decimal in a different place.


18,446,744.073709551616     -12  (monero)
184,467,440,737.09551616    -8   (bytecoin)
18,446,744,073,709.551616   -6   (HUGEcoin)

With 30 sec blocks you will produce about 1.051.200 blocks a year

Even at a reward of 10 coins (which is actually 1000 times less than what you start and will take 4 years to get there), thats 10 million coins a year, for a supply of 18 trillion with 1.8 trillion premine.
It will take a million years (literally) to surpass 50% of total supply

You are looking for free pow... good luck 

[Coin_trader]

HUGE? yeah the name fits the total coin supply, trillions, whew! too many total supply will discourage the investors specially those who knew the law in economics, too many supplies will resulted to a very slow growth and a very cheap price.
it's not my intention to criticize, i'm just saying what's on my mind, but anyway....goodluck.

[sarul]

Total coins: 18,446,744,073,709.551616 

but it doesn't matter when the premine is reduced until 0.00001%, and the price will start around 2 - 6 satoshi 

[samsmith16]

Well I'm not crazy about the name.. dont get me wrong it fits..  you have a problem with distribution.. its going to take too long.. I had been working on a new concept to add to a coin.. this may be helpful to you..

[memii]

Well I'm not crazy about the name.. dont get me wrong it fits..  you have a problem with distribution.. its going to take too long.. I had been working on a new concept to add to a coin.. this may be helpful to you..

Look at the name of this coin than you will understand everything is huge with this. Don't be get shocked it will be huge in distribution but without any good team how it will be possible to get investment in it. One man show has no chance of success.

[konstant111]

the large number of coins, why start such a project lol

[Skittlz]

Launch date?

Are you come with mining software (inbuilt or 3rd party)?

Still working on the specific launch date, keep an eye on the OP I will post it there soon. As with any cryptonote coin that uses cryptonight, the wallet will have a CPU miner in it and you can use a GPU miner of your choice.

the large number of coins, why start such a project lol

Well when it comes to total supply it may be difficult to understand why the number is so HUGE. However it's merely a shift of the decimal, total units are the same as other cryptonote coins out there. Bitcoin itself has an end total of 2100000000000000 units, each Bitcoin is 100000000 units. At any point there could be a mass decision to "shift" the decimal. This could be looked at in the same light as a stock splitting. If you ask me Bitcoin should have shifted its decimal long ago. I truly feel this is a downside, that once a crypto is over $1000 per whole unit, that the code isn't changed and the decimal shifted.  This is not creating more, this is merely choosing what we consider the whole number. The average person does not want to deal with decimals and conversions, most of them can't. So I have  decide to eliminate as many zeros at the beginning as I can, without making it obnoxious. I know it may be hard to understand, however if Bitcoin decided tomorrow to shift the decimal three places. Total supply would look like this  21,000,000,000.00000 and each Bitcoin would cost $1.20. Yes everyone's balance would increase by a factor of 1000, however the price would remain the same proportionately to the decimal. I'm not saying that Bitcoin is going to do this. I'm just saying at some point, crypto's are going to have to evaluate the usability of fractional coins for the average user.

[Splatters]

Very Huge!

[erikalui]

Reserved

[synthgauge]

This is going to be huge. Expecting a huge amount of feedback both positive and negative to this thread. The number of available units of a currency is not that huge by the way, u could just make it equal to the diameter of universe. Just convert the distance from arches to betelgeuse to meters and voila, u have the really huge number that u cant even write in words.

[Skittlz]

...for a supply of 18 trillion with 1.8 trillion premine.

You are looking for free pow... good luck  

Well really it's 10.842021724855044340074528008699% (2 trillion) but like I said decimals can be cumbersome.

Well I'm not crazy about the name.. dont get me wrong it fits..  you have a problem with distribution.. its going to take too long.. I had been working on a new concept to add to a coin.. this may be helpful to you..

I have spoken with samsmith16 and like some of his ideas, I plan on updating the OP to reflect the additions with the ICO start info.


Thank you for all the PM's you have sent, I plan on getting back to you all today.

edit
This was from Hugecoin and has been changed, 18 billion coin is the number of the ICO now.