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

[samsmith16]

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 needed development funds from the ICO, code Deposits 2.0 and many other changes.

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.



•Wallet Download
https://xry.io/#download



•Exchanges

Cryptopia
XRY/BTC
XRY/LTC
XRY/DOGE



•Info

Royalties Foundation Website
https://xry.io/

Live Block Explorer
http://xryexplorer.info/


•Team

Coders/Developers
Eric (samsmith16)
Jamison

Community Managers
Rob - slack admin and bitcointalk (Royalties)
James - slack admin
placeholder (in the works)

Financial Manager
Pete (RoyaltiesFin)



•Social Media

-Twitter-
Foundation
@RoyaltiesGroup
samsmith
@RoyalCipher


-Foundation Discord-
Join Discord

Team Members Discord username
Eric (GOAT)
Jamison (jamison)
Rob (Rob_Otman)
James (james)
Pete (pete)


•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



•Mining

Pools
www.xrypool.co
www.xrypool.com


Royalties CPU solo mining guide

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

Royalties CPU pool mining guide

https://bitcointalk.org/index.php?topic=2044804.0



ICO Started Saturday, 1 July 2017 0038 (GMT)
ICO Ended Wednesday, 5 July 2017 0450 (GMT)
https://bitcointalk.org/index.php?topic=1866394.0



Please send donations to the XRY address below.

Code:

XRY1So7woYdgbVDZXRRDFRL77DbXKCCQ92RGngs2aEviAL6v4pY2qcBbSGL3WgsUNVEAtUPZU22dhT5z2ihUFTPA6o8aUvtG9D

[samsmith16]

RoadMap

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

Initial launch (Completed)
We launched both the command line (simple wallet) and GUI wallets on July 14th, we have binaries for all 3 operating systems. This has 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)

 

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 CloudWallet, however the private key will be held by your account on the CloudWallet. 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 CloudWallet and assume 100% ownership and accountability, this will be done by handing the private key over to you. We have bought CloudWallet.co and plan to use it for the Royalties CloudWallet.

[hugasinora]

I like the logo, I think it will be a project that will develop quickly, I'm interested to deposit, hopefully run well and progress, good luck

[samsmith16]

I like the logo, I think it will be a project that will develop quickly, I'm interested to deposit, hopefully run well and progress, good luck

PM me your wallet address and I can send you 2 XRY to try deposits

[SpaceDiz]

waw!)
Hash Rate: 99.61 KH/sec, 12 hours ago it was 9-10 KH/sec.
Best wishes Royalties and Dev!

[samsmith16]

waw!)
Hash Rate: 99.61 KH/sec, 12 hours ago it was 9-10 KH/sec.
Best wishes Royalties and Dev!

It keeps changing.. I would keep at it if you have a GPU that you can mined with.. price is still $1/XRY and looks to have good buy support...

[SpaceDiz]

waw!)
Hash Rate: 99.61 KH/sec, 12 hours ago it was 9-10 KH/sec.
Best wishes Royalties and Dev!

It keeps changing.. I would keep at it if you have a GPU that you can mined with.. price is still $1/XRY and looks to have good buy support...

Good coin and good start.
i mine Royalties with CPU and GPU, and hold them on deposit.

[vikingchild]

This actually looks quite interesting.

A few questions as this is not really all that clear to me:

1. When do you estimate the total supply to be reached? You mention you will produce around 8K coins per day in the second year and that this will continue until the total supply has been reached. Which is 18 trillion coins!
2. What do you mean that the Rp block reward increases by 10x each year? And how are Royalty Points different from Royalties, if at all?
3. Can you explain the decimal breakdown as that is not quite clear to me either.

Best Regards,

[samsmith16]

This actually looks quite interesting.

A few questions as this is not really all that clear to me:

1. When do you estimate the total supply to be reached? You mention you will produce around 8K coins per day in the second year and that this will continue until the total supply has been reached. Which is 18 trillion coins!
2. What do you mean that the Rp block reward increases by 10x each year? And how are Royalty Points different from Royalties, if at all?
3. Can you explain the decimal breakdown as that is not quite clear to me either.

Best Regards,

1. Not only do you earn coins by mining but you earn interest on deposits (locking coins up for a period of time) so if you lock up say 1000 coin for 1yr you get 150 coins (right now interest rate) plus your 100 unlock with them so you go from 1000 to 1150 in 1 year.. you can lock for less time and earn less coins.. min. of 1 coin for 1 month.. so it will depend on deposits when we hit the Max supply.. but we will get there with more then mining.. and this gives ppll a way to earn coins not only from mining..

2. 100RP = 0.1 XRY this is just a name for this decimal point.. helps not have to use decimals..

3. same thing here every 1000th place gets a new name (label) like 1000 Millimeter = 1 meter

[cryptomaxsun]

Total coins -
Block reward 100? in pool 0.1
Where correct, correct.

[okane818]

Hello Dev,

Any bounty program?

Thanks and regards

Okane Satoshi

[Golftech]

waw!)
Hash Rate: 99.61 KH/sec, 12 hours ago it was 9-10 KH/sec.
Best wishes Royalties and Dev!

It keeps changing.. I would keep at it if you have a GPU that you can mined with.. price is still $1/XRY and looks to have good buy support...

its interesting seeing that numbers so if you have a good mining rig this coin really profitable as of this moment better to check it up
and its seems that its been supported by some people around cryptopia really attract my interest will check this out dev and let see
if i can make soem investment with it. good luck

[samsmith16]

Total coins -
Block reward 100? in pool 0.1
Where correct, correct.

100 RP = 0.1 XRY and right now 1 XRY = $1 so each block every 2mins = $0.10

[samsmith16]

Hello Dev,

Any bounty program?

Thanks and regards

Okane Satoshi

Yes we are working on a bounty program...

[cryptomaxsun]

Total coins -
Block reward 100? in pool 0.1
Where correct, correct.

100 RP = 0.1 XRY and right now 1 XRY = $1 so each block every 2mins = $0.10

Confusion, why is this done?
So how many coins will there be?
What unit of measurement?

[samsmith16]

[samsmith16]

Total coins -
Block reward 100? in pool 0.1
Where correct, correct.

100 RP = 0.1 XRY and right now 1 XRY = $1 so each block every 2mins = $0.10

Confusion, why is this done?
So how many coins will there be?
What unit of measurement?

Here is the thing.. we moved down the decimal bc we wanted a lower price per coin then say Monero so ppl dont need to use decimals to buy a coffee.. and in keeping with that theme we have given labels to the decimal places every 1000.. here you can see bitcon does this as well ( https://en.bitcoin.it/wiki/Units )

So we have used the same number as other Cryptonote coins.. its just we only wanted to use 6 decimal places..
Monero
https://github.com/monero-project/monero/blob/master/src/cryptonote_config.h#L53
Bytecoin
https://github.com/amjuarez/bytecoin/blob/master/src/CryptoNoteConfig.h#L37
Royalties
https://github.com/Vetro7/RoyaltiesCLI/blob/master/src/CryptoNoteConfig.h#L30


18,446,744.073709551616     12  (Monero)
184,467,440,737.09551616     8   (Bytecoin)
18,446,744,073,709.551616    6   (Royalties)



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 we have decide to eliminate as many zeros at the beginning as we 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 $2.50. 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.

[cryptomaxsun]

As a monero - 18 million, I understood correctly?

[shoggot]

I just deposited 2 XRY for three months. Will see how it works.

[samsmith16]

As a monero - 18 million, I understood correctly?

Not sure what your asking but this may help

100,000,000.000000000000000000 - Ethereum 18 decimals
18,446,744.073709551616      - Monero  12 decimals
184,467,440,737.09551616     - Bytecoin  8 decimals
18,446,744,073,709.551616    - Royalties  6 decimals
100,000,000,000.000000         - Ripple      6 decimals
21,000,000.00000000             - Bitcoin      8 decimals


Ever time you get 1 Bitcoin your really getting 100000000 units the code just knows to put the decimal in the 8 place.. every time you get 1 Monero you get 10000000000000 units code puts it in the 12th place.. 1 ether is 1000000000000000000 units code puts it in 18th place.. and in Royalties its 1000000 code puts it in 6th place.. its all about Units and Decimal place that is coded