[ANN][CrowdSale Ended]🌟🌟🌟🌟 NVO Decentralized Exchange | MultiWallet 🌟🌟🌟🌟

[Almeida]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

[1715061559]

1715061559

[tehMoonwalker]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

ofc there is no fixed number, its a % of the fees generated, so it depends on how much fees they collect...

nvos are fixed to 0.99 you can exchange on the site... bro do you even read? or just ask out of your but?

[gerasrocha]

nice project, hope keep growing, i´m in

[Almeida]

nvos are fixed to 0.99 you can exchange on the site... bro do you even read? or just ask out of your but?

wow, such a low level here ... are you involved in this project somehow? I hope not.

[thegeneral1985]

I like the idea, but I'm still undecided.

How is the validator going to work exactly?  People want the safety of decentralized exchanges with the speed and functionality of a centralized exchange. How will the validator provide good service and order processing?  How will it deal with large volumes and high speed trading and APIs... I'm also assuming it will all be open source.  How will bugs/problems be dealt with?  Will there be a fund for compensating errors, etc?  How do you ensure errors and bugs are minimized?  Do either of you have any development experience building an exchange engine/software?  This is a hard project, I need some reassure this won't be another failed attempt at a DEX.

[MadGamer]

You are claiming that the MaidSafe CEO is supporting your project and you are in partnership with them. I however can't find anything regarding that quote on MaidSae forums or site. I however was able to find this post, they are basically saying that they are not with a partnership with anyone except MaidSafe Asia.

[tonbi]

You are claiming that the MaidSafe CEO is supporting your project and you are in partnership with them. I however can't find anything regarding that quote on MaidSae forums or site. I however was able to find this post, they are basically saying that they are not with a partnership with anyone except MaidSafe Asia.

Our partnership is with coinpayments. They support is and endorse the project but they are not our partners. The only partner they have is Maidsafe Asia.

[tonbi]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

NVOS supply can be manipulated they are not fixed. They are distributed depend on how much NVOT are in your NVO wallet similiar to staking. More NVOT addresses will receive more NVOS when the exchange is in production. NVOS can be converted to Bitcoin automatically through our validator or counterparty exchange. Unlike NVOT, NVOS are fixed at $0.99 because they are only used for fees distribution to NVOT holders and nothing else.

[ViceOfBTC21]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

NVOS supply can be manipulated they are not fixed. They are distributed depend on how much NVOT are in your NVO wallet similiar to staking. More NVOT addresses will receive more NVOS when the exchange is in production. NVOS can be converted to Bitcoin automatically through our validator or counterparty exchange. Unlike NVOT, NVOS are fixed at $0.99 because they are only used for fees distribution to NVOT holders and nothing else.

Isn't this better to fix NVOS at $1? It's simpler to understand and you don't need to use calculator.

[saqwe]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

NVOS supply can be manipulated they are not fixed. They are distributed depend on how much NVOT are in your NVO wallet similiar to staking. More NVOT addresses will receive more NVOS when the exchange is in production. NVOS can be converted to Bitcoin automatically through our validator or counterparty exchange. Unlike NVOT, NVOS are fixed at $0.99 because they are only used for fees distribution to NVOT holders and nothing else.

Isn't this better to fix NVOS at $1? It's simpler to understand and you don't need to use calculator.

I practically do not see anything wrong about the way the amount fluctuates or changes infact that gives NVO its uniqueness reminding me of the days of e-gold.com (Not everybody know it  ) whereby the value of USD in your account can increase or decrease without undervaluing your currency in anyway.

I will not agree with a static price of $1 because that will not give room for trading and makes NVO just like any fiat or government controlled currencies.

[tonbi]

I like the idea, but I'm still undecided.

How is the validator going to work exactly?  People want the safety of decentralized exchanges with the speed and functionality of a centralized exchange. How will the validator provide good service and order processing?  How will it deal with large volumes and high speed trading and APIs... I'm also assuming it will all be open source.  How will bugs/problems be dealt with?  Will there be a fund for compensating errors, etc?  How do you ensure errors and bugs are minimized?  Do either of you have any development experience building an exchange engine/software?  This is a hard project, I need some reassure this won't be another failed attempt at a DEX.

It will be easier if you check our whitepaper or watch the youtube video to explain how the validator will work. For simpler explanation, check the video. For more details check the whitepaper. It's between wallet to wallet so we can process orders quickly for users. The problem would be users are required to be online for the exchange to happen so offline trading won't be supported right away and high volume orders might take longer than traditional exchanges during the early stages of development. That's why it's important for us to raise money for liquidity and get partners that are market makers. There are several methods to tackle the problem with offline trading, but it won't be part of our main focus until online trading works well. The problem with offline trading is it won't be fully decentralized(semi) however it is doable. There are also other methods that rely on the Safenetwork that we could do as well that will keep it fully decentralized, but they haven't been developed yet as of this moment and will be worked on during alpha 3.

The wallet for NVO will be open source and the state of the validator will be decided by token holders. We will use money from crowdsale to hold a reserve for bugs bounty and it will scale with the exchange so more money will be added to the reserve as the exchange becomes more profitable. Unlike centralized exchanges all assets are controlled by users even during exchange. Theoretically, if we encounter critical bugs/vulnerabilities, there is a much smaller window for theft in both time and quantity compared to centralized exchanges due to hackers having to target very specific settings which can be prevented as we set up more system of independent checks minimizing the risk of theft from even small incidents. Ultimately, if there are problems it will mostly likely because users don't secure their computers from malware.

Yes we both have experience dealing with exchanges and crypto currencies projects. We have a partnership with coinpayments and are endorsed by the Maidsafe team because they believe in the capacity of this project. If this project is impossible to implement then the first people to realize that would have been the maidsafe team so rest assured this is not impossible and will be done. For Yanni last project, he was working to help to build a centralized exchange called veserus.com which is still in development, so there is experience working from both sides.

It's easy to doubt development for decentralized exchanges and forget that nearly every non-DEX has been hacked and struggle to stay in business for continuous years. These hacks can vary from human errors to third parties vulnerabilities on traditional networks. Non-DEX not only control users assets they control users' info and the market itself. Centralized services form a monopoly on the decentralized economy.

We have endorsement from the Maidsafe team while building this project on the Safenetwork. It takes a few post on the forums to request for help from the community, and issues can be resolved because when it comes to developments there are solutions its just a matter of finding the best one. Along the way we may get hacked and we can't say we won't because any service or website saying that would be lying. We can get hacked, but it's set up so the incidents are minimized even if we do. You can read the whitepaper on the scenarios and how we plan to prevent it. We also have very flexible set up on what technology we can work with to secure the exchange such as a solution to double spend . There will be a rewarding security bounty reserve so people are always encouraged to find vulnerabilitie. Our wallet and plugins system also ensures we are not only building an exchange but a encouraging a shift from centralized services to become more decentralized so that all decentralized services get a bigger market share. Hopefully more people will understand what we are trying to build and realize it's importance.

[tonbi]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

NVOS supply can be manipulated they are not fixed. They are distributed depend on how much NVOT are in your NVO wallet similiar to staking. More NVOT addresses will receive more NVOS when the exchange is in production. NVOS can be converted to Bitcoin automatically through our validator or counterparty exchange. Unlike NVOT, NVOS are fixed at $0.99 because they are only used for fees distribution to NVOT holders and nothing else.

Isn't this better to fix NVOS at $1? It's simpler to understand and you don't need to use calculator.

We are keeping it at $0.99 for legal purposes.

[nemgun]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

Hello, and thank you for your interest :

1- The amount of NVOS will be proportional to the amount of fees collected by the Validator.
2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd.

The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that.

[Duzter]

That's good to be a part of the successful campaign which is completely based on the decentralized platform and functioning in an effective manner just based on the support from the investors and the early bonus for the investors is quite good to make a big profit after the crowdsale.

[Almeida]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

Hello, and thank you for your interest :

1- The amount of NVOS will be proportional to the amount of fees collected by the Validator.
2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd.

The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that.

Thx for the reply Tonbi and Nemgun.

Ok, let's see if I get it, working example:

suppose I hold 20% of all NVOTs. Suppose t is the interval of time between NVOS distribution.

Scenario: During t, 10 BTC are collected as fees and 10 ETH are collected as fees, so 20% of 50 % of that is to be distributed to me, that is, 1 BCT plus 1 ETH - NVO company holds 50% of all fees. So far, so good. Now, based on which market will you give me the amount of NVOS corresponding to that 1 BCT and to that 1 ETH in dollars??

I understood that when you come up with the price of all fees of all cryptocurrencies in dollars, you will use the formula NVOS=0.99USD to generate the adequate amount of NVOS, that's very clear. What I'm struggling with is how this calculation will be done.

Isn't it easier in each scenario to distribute the cryptocurrencies themselves? Specially if your schemata is seen by regulatory agencies in different countries as an online exchange and with the risk of the entire thing being shut down? You are distributing dividends with price tag in fiat.

I don't know about the tech challenges to do this, though.

[nemgun]

Hello Tonbi,

I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:

1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?

thx

Hello, and thank you for your interest :

1- The amount of NVOS will be proportional to the amount of fees collected by the Validator.
2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd.

The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that.

Thx for the reply Tonbi and Nemgun.

Ok, let's see if I get it, working example:

suppose I hold 20% of all NVOTs. Suppose t is the interval of time between NVOS distribution.

Scenario: During t, 10 BTC are collected as fees and 10 ETH are collected as fees, so 20% of 50 % of that is to be distributed to me, that is, 1 BCT plus 1 ETH - NVO company holds 50% of all fees. So far, so good. Now, based on which market will you give me the amount of NVOS corresponding to that 1 BCT and to that 1 ETH in dollars??

I understood that when you come up with the price of all fees of all cryptocurrencies in dollars, you will use the formula NVOS=0.99USD to generate the adequate amount of NVOS, that's very clear. What I'm struggling with is how this calculation will be done.

Isn't it easier in each scenario to distribute the cryptocurrencies themselves? Specially if your schemata is seen by regulatory agencies in different countries as an online exchange and with the risk of the entire thing being shut down? You are distributing dividends with price tag in fiat.

I don't know about the tech challenges to do this, though.

Let me first explain why 0.99$. In USA, 1$ is valuable, but lower then 1$ isn't valuable, this is why NVOS will be used, NVO doesn't want to get regulated by the governments because it is a decentralized exchange, regulating NVO means centralizing it. So as 1$ is a reference in USA, the Team decided to lower the price of NVOS by 1 cent in order to avoid legal issues regarding the distribution of funds, this process lets the NVO Wallet usable worldwide without limitations like Bitcoin.

The NVOT and NVOS will be counterparty assets, built on top of the Bitcoin blockchain, so the NVOS will be exchanged for Bitcoin only. While NVOT can be exchanged like any other asset/currency.

Once you put your NVOT in the NVO wallet, the validator will be aware that own X amount of NVOT, and will then send you a proportional amount of NVOS. Each time a trade is concluded, the validator will calculate the fees values in bitcoin.

Then he will process the distribution of NVOS, 50% will be sent to NVO and 50% will be distributed to the owners of NVOT.

NVO will issue buy orders once a week to buy back the NVOS at a fixed value of 0.99$ in BTC. This process will be automated later.

How the Validator will send the NVOS to NVOT holders ?
The validator will convert the collected fees from Altcoin/Asset to Bitcoin. Then he will exchange the Bitcoins to USDT in order to fix the value. Finally will send NVOS proportionally to the amount of fees collected, and will distribute them proportionally to the amount of NVOT held by the wallets.

After a week, NVO will buy back the distributed NVOS to feed the Validator for the next week and so on, this process will be automated in late development stages.

This will incentivise holders/investors/owners of NVOT by keeping their tokens into the wallet, thus reducing the risk of dumps.

[CoinHoarder]

I have a question.

Maidsafe is still in Alpha, and has been in development for 3+ years. It doesn't really seem ready enough to build a project on top of.

What if Maidsafe runs out of funds and never comes to fruition, or if it stays in alpha/beta for a long time?

Is there any back up plan?

[tonbi]

I have a question.

Maidsafe is still in Alpha, and has been in development for 3+ years. It doesn't really seem ready enough to build a project on top of.

What if Maidsafe runs out of funds and never comes to fruition, or if it stays in alpha/beta for a long time?

Is there any back up plan?

Actually, the validator can be run on the testnet. So we can develop the validator right now at this moment. The problem is since the network is in alpha, the testnets are frequently reset, so it can be very inconvenient and inefficient. There are alternatives, but it will make the exchange semi decentralized instead of fully decentralized.

If Maidsafe never comes to fruition, we will use those alternatives until it's available. We have thought about this so don't worry.

[slaman29]

-edited-

NVO wants to be fair with the whole crypto community, either Altcoins or Bitcoin.

The large investors who are looking for early bonus have to understand that the strengh of a currency comes from it's community, NVO isn't here to create social divisions, NVO is here to serve everyone from smallest to largest. Do not forget that 90% of the community tested at least once a faucet to understand bitcoin by micro payments.

This is something that will resound with a lot of people like me. I am definitely part of that 90% of community who was curious to try Bitcoin and of course got my first payments after a few days of using a faucet. I am sure 90% are also like me who don't have much and are waiting so long for a chance to put our small coins into something we can share equally if it grows. NVO looks like one of this, and I am very close to making the decision to make it my first "real" choice for supporting.

[samysamy1]

Sorry if this question has already been asked, but what is this ICO exactly for? Is it for buying coins or shares? In case of shares, will you earn fees from the exchanges that other people make?