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Author Topic: [ANN] TOKENCARD  (Read 86966 times)
OCTOPARTY
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May 03, 2017, 08:40:32 PM
 #341



any exchange can trade this coin? I want to buy some

Well, I would like to sell some.
How many you have and what price per token you willing to sell it.Please pm me details.I want to buy few.We can use any good reputed escrow

Those tokens are no real Tokencard tokens!!!

Tokencard tokens will 90% sure be redistributed on another token address so if you buy any tokens now, you'll end up with empty hands.

Read this:
https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

Exactly, If I use the current address, and send my tokens to EtherDelta, sell them for Eth, I highly doubt once they correct the issues and issue the tokens under a new address I will get my tokens distributed.

It's a bad deal for the investor and the chump who bought them on EtherDelta...don't do it. You're ripping someone else off and screwing yourself in the process.
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May 03, 2017, 08:45:46 PM
 #342

No official ERC20 token has been issued as far as i can tell. Any transfers that happen with the token minted in the token creation should not be trusted. If some one tries to sell you these tokens, you are being scammed... be careful out there.
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May 03, 2017, 08:52:03 PM
 #343

It was very fast and a nice ico. I look forward to the price you enter the stock exchange.

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May 03, 2017, 09:03:05 PM
 #344

It was very fast and a nice ico. I look forward to the price you enter the stock exchange.

yep and north korea is a thriving nation state
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May 03, 2017, 09:05:14 PM
 #345

http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/

Quote

TokenCard Tech Roundup and ERC20 Crediting
03 MAY 2017
The TokenCard creation event yesterday was overwhelming and staggeringly successful, but there are a number of areas for improvement, and one bug that needs fixing before token transfers can start.

I want to give a quick review of the event as a whole, and then talk about the bug and next steps.

REMINDER AND WARNING All exchanges and individuals purporting to transfer TKN are not able to do so now; the TKN ERC20 contract address has not been published yet. Some decentralized exchanges have "guessed" an address -- this is not the correct address. These tokens have no value in the TKN ecosystem. Only tokencard.io should be relied on for the ERC20 token address.

First Takeaway - Pay Attention to Gas and the Estimator
We briefly broke the Blockchain; TokenCard events and transfers took over Ethereum for 30 minutes and that slowed everything down. One thing we had considered, but not carefully enough, was gas and gas estimation for TokenCard contributors. We expected that there would be demand to contribute, but internally had no idea that we would see the level and intensity of demand that contributors showed.

Internally we had guesses ranging from four or five hours to seven days for the duration of the crowdsale; instead it was roughly 28 minutes, in essence, everything that we thought might happen in a great scenario happened very very quickly.

This is humbling -- Mel and David are blown away by the support -- but I'm here to do a tech debrief, so I'll get into the nerd talk without further ado.

The ERC-20 Crediting Bug
We will publish a full root cause analysis soon, but it won't be a long document. In summary, the server calculating the value of a transfer has the lines:

var eighteen = new(big.Float)
eighteen.setString(10e18)

Astute (or even just basically curious) readers should see the bug immediately -- 10e18 is 1 with 19 zeros on the end. Much, much better would have been 1e18. For some context, 10**18 is the correct way to get one with eighteen zeros in some languages. But not using GoLang's BigInt package (needed for numbers this large).

While the smart contracts were extensively tested, the server calculating ERC20 transfer values was under development until right before the crowdsale, and we used the same incantation (10e18) for all testing and for the final crediting.

DGD has nine zeros of decimals, and true to form I see nine.setString(10e9) -- we were consistently wrong at least!

There is no excuse for this, it was an engineering error.

Remediation
Because the specifications for the crowdsale were that tokens contributed not affect the cap (Mel and David were concerned they would receive too many tokens that were thinly traded), the smart contract used in the token creation event has two paths for minting tokens. The first path comes in through the fallback function and is triggered by any ETH sent.

The second path comes through depositToken and emits a special event just for token purchases, including a reference number and the number of tokens that were used to calculate out the ETH value of the deposit. Of course each ERC20 contract emits its own Transfer logs as well. This makes determining the TKN balance expected for each contributor very easy to calculate.

Combined with the ERC20 events, getting an audit log together was simple. We filtered on the deposit token logs and the ETH credit logs and have a full list of all deposits, including the base number used for calculation.

We then followed a series of steps published below to confirm the correct amounts. We are going to remain cautious and thoughtful, and compare our results to those of an outside firm, but assuming they are correct, we will publicize the ERC20 contract address shortly.

Next Steps
We made best efforts to get the ERC20 token contract in place at time of launch, but correct fulfillment of the contribution terms is our number one priority, so we will be doing a numeric audit before we announce the token contract's Ethereum address.

We'd also love someone to check our work - we currently have one outside group reviewing the methodology and recreating the numbers to make sure that two independent sets of eyes agree on the tokens granted.

If any other groups would like to calculate the precise numbers as a third check, you're welcome to do so; the precise calculation steps are detailed below.

Precise Steps For Token Calculations
Get the first block in which the smart contract accepted ETH. This is the start.
Get the last block in which the smart contract accepted ETH. This is the end.
For each block from start to end, get each ERC20 transfer event from: REP, SWT, DGD, MKR, SNGLS, MLN, GNT, UNICORNS
Credit them as follows:
REP: $16.12
GNT: $0.203
MKR: $75.40
DGD: $30.408
SNGLS: $0.1029
MLN: $36.70
SWT: $1.38
UNICORNS: $150
The Ethereum Price for the launch is $75.00
TKN has 8 decimals.
SNGLS have 0 decimals.
DGD have 9 decimals.
All others have 18 decimals.
For each ERC20 transfer event in the list, calculate the ETH value (this is the step we had trouble with at launch)
Grant 100 TKN per the calculated ETH value
Failed Transactions
A large number of transactions failed because of gas costs. I would split those transactions into two categories -- those that sent the default amount of gas for a wallet, say 21,000, and those that used an incorrect gas calculation, a number that might look like 93,432, but ultimately wasn't enough gas to complete.

There are some good reasons a wallet might not be able to estimate gas well in a time of high transaction volume -- if each transaction adds a little bit of additional cost for future transactors, then you could easily have a world in which only those who manually override the gas estimation to a high number will get through. This seems to have happened more than expected, but isn't the only thing -- some wallets seemed to just have gotten it completely wrong.

These transactions are doubly bad, since they post and are mined but throw -- they pollute the Blockchain and they tie up funds until the throw happens.

In the future, New Alchemy will be working to get the gas costs down as low as possible for token creation events, and have as a development requirement that the contribution functions are easily estimable even under load. Because of the current gas limits on Ethereum, it's possible we will recommend very vanilla holding contracts for token sales until Metropolis is out and can be tested in this way.

Next Update In ..
We will update in 24 hours with information; internally we are not expecting this process to take long, but we want to make sure we do it right. Thank you all for the encouraging words -- we're excited to see the TKN token out in the wild, and find out what people are doing with them.

About New Alchemy
New Alchemy provides technology and strategy resources for the TokenCard project. Contact us with any questions: hello@newalchemy.io.

So expect another 24 hours before you receive the official token address, released by the team, not by some anonymous person on Bitcoinalk or Slack.
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May 03, 2017, 10:33:32 PM
 #346

So there should be something like 22.8m TKN instead of 42.3 created.
This makes sense now.
sotisoti
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May 03, 2017, 11:17:44 PM
 #347

I hope the new contract address will be published as soon as possible
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May 04, 2017, 02:55:36 AM
 #348

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Thx hope they fix it soon.


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wavespump
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May 04, 2017, 04:59:20 AM
 #349

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Their tech team is incompetent? Why they have vital bugs like DAO, R.I.P. Actually reliable and secure projects are not many.
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May 04, 2017, 05:57:40 AM
 #350

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Their tech team is incompetent? Why they have vital bugs like DAO, R.I.P. Actually reliable and secure projects are not many.
Just give them a bit more time, the team deserves a second chance.
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May 04, 2017, 06:11:35 AM
 #351

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Their tech team is incompetent? Why they have vital bugs like DAO, R.I.P. Actually reliable and secure projects are not many.
Just give them a bit more time, the team deserves a second chance.

Sad news, I heard the investors who used SNGLS to invest, they made 10x amount of tokens, it is unfair and bad impression for new investors.
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May 04, 2017, 06:24:29 AM
 #352

my friend say that this coin is a fraud,reserve
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May 04, 2017, 06:25:03 AM
 #353

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Their tech team is incompetent? Why they have vital bugs like DAO, R.I.P. Actually reliable and secure projects are not many.
Just give them a bit more time, the team deserves a second chance.

They had all the time to prepare before starting the ICO. They raised huge amount of money, 12.5 million USD. Now put that to good use.
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May 04, 2017, 06:28:48 AM
 #354

hey will TOKEN get listed on polo  Grin Grin Grin
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May 04, 2017, 06:29:31 AM
 #355

BIG RED WARNING: DO NOT TRADE TKN TOKENS!!!

There was an exchange rate error so the official tokens have not yet been released by the Tokencard team, the Token address may change so you end up with worthless tokens.

Official update by the Tokencard team: https://medium.com/@MonolithStudio/tkn-creation-event-updates-d1390fccf557

And update on the problem: http://vessenes.com/tokencard-tech-roundup-and-erc20-crediting/


Their tech team is incompetent? Why they have vital bugs like DAO, R.I.P. Actually reliable and secure projects are not many.
Just give them a bit more time, the team deserves a second chance.

Sad news, I heard the investors who used SNGLS to invest, they made 10x amount of tokens, it is unfair and bad impression for new investors.
The team is working on hard so that everyone gets the right amount of tokens, I believe it won't take too long.
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May 04, 2017, 06:31:05 AM
 #356

Things can go wrong with Launches but what bothers me the most is that Team seems to have communication problem

at this point they should be letting every one know whats step are being taken and inform the investors each step of the way
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May 04, 2017, 06:42:24 AM
 #357

Things can go wrong with Launches but what bothers me the most is that Team seems to have communication problem

at this point they should be letting every one know whats step are being taken and inform the investors each step of the way

I don't know about what you think, but the TEAM they have is an artificial one, all but two (are friends) members bought/contracted to do a specific task (marketing, marketing specialist, law specialist on ICO etc, tech for programming, etc)

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May 04, 2017, 07:01:21 AM
 #358

That bug or issue whatever was which caused over percentage of tokens to be issued using SNGLS was exploited. This is also not healthy for the project which show there were flaws and still they rushed to launch without taking proper measures. Team will surely handle this but they need to think and recheck everything more than enough when they are running mega funded projects.


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May 04, 2017, 07:05:55 AM
 #359

hey will TOKEN get listed on polo  Grin Grin Grin

I hope it get listed in Polo, but I don't think at this point anyone from core team can give any guarantee. Polo is 100% Independent exchange, and that will never exchange tokens randomly. no matter if you offer them lots of money. polo adopt quality altcoins.

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May 04, 2017, 07:23:14 AM
 #360

Things can go wrong with Launches but what bothers me the most is that Team seems to have communication problem

at this point they should be letting every one know whats step are being taken and inform the investors each step of the way

The problem is that people visit Bitcointalk for news by the team, while the team is not active on this forum.

There is no official Tokencard topic on Bitcointalk, for news and updates join their Slack or visit their website.
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