GRAFT - Universal Payment Processing Network

[sltshp]

Surprised to see that this project isnt getting more attention. Extremely underrated project and has potential to become one of the big coins in 2018!

[Gooffy]

Hello! What payment methods will Graft community’s service brokers support?

[Eric.Lichmann]

I’ve read that crypto currencies will be instantly exchanged to fiat funds in payment process. Tell me, what commission will be charged for such a conversion?

[graft-project]

Hello! What payment methods will Graft community’s service brokers support?

We start from GRF, then go to Top 10 cryptocurrencies and eventually credit/debit cards.

[graft-project]

I’ve read that crypto currencies will be instantly exchanged to fiat funds in payment process. Tell me, what commission will be charged for such a conversion?

GRF transaction fee is less than 0.1% for "native" GRF transactions. Exchanges will take their extra fee in case of "mixed" transaction that involves conversion from/to other cryptocurrency.

[graft-project]

GRAFT NETWORK MVP DEVELOPMENT STATUS UPDATE
https://www.graft.network/2017/12/07/mvp-development-status-update-2/

I commend you for this.  When mining is live, not on testnet, will it be possible to mine only on CPU.  If one doesn't have any GPU's to mine with, will a laptop suffice? 

For a start I think the CPU will be adequate because the whole Graft mining will be like bitcoin mining which start from CPU to GPU when the hashrate goes up.
[/hr]
Dear Graft Project,
You said Graft token will be available on exchange after the ICO could specify the exchange?
Would the Graft token also available on Coin cap market?

Is it not better you focus on the project first and after the ICO, then discussion can now be directed towards when it will be listed on the exchange sites and which one specifically.  The team have said it will be listed, and I believe they will keep to their word.

I also wanna suggest an ANN thread for btt users, we are interested in updates and news related to the project. Do you have some telegram channel available?

for discussion and engagement with the team, join the Telegram group https://t.me/GraftNet
for official announcement, check out the Telegram Channel https://t.me/graftnetofficial

Official announcement on telegram? What of those of us not on that platform. If it wont be too much stress, I think there should also be a further dissemination on the project progress on this ANN thread as well so we will all be informed. Telegram is good but it might be to clumsy and easy to miss important update which is very much easy on the forum.

Of course - we post all important announcements on both Telegram group chat and Bitcointalk thread.

[graft-project]

HOW WE PRICED GRAFT ICO

We get a lot of questions about the ICO pricing, including “Why GRAFT ICO is so expensive”. What follows is an attempt to explain how we arrived at the ICO pricing and what all contributed to it.

NOT ALL ALTCOINS ARE THE SAME

There are two types of altcoins (aka tokens) out on the market today – one that sit on top of another blockchain (like Ethereum), and others that implement their own blockchain. The ratio of derivative tokens to custom blockchain ones are roughly 100:1.  
It is a lot easier to do a derivative token based ICO – you just write a small amount of code in  Solidity (if Ethereum) – and you have a token you can sell. Doing or modifying a blockchain on the other hand involves a very substantial amount of engineering efforts – the team has to figure out the math and economics behind the blockchain, implement additional capabilities, secure that new functionality, create API’s, in many cases create applications like a wallet, etc. They also have to create a whole new network complete with node installation procedures, upgrade processes, and many other considerations.
GRAFT is the latter of the two – while leveraging CryptoNote protocol which addresses privacy, decentralization and fungibility as well as  great work that Monero team has done to improve scalability among other things, GRAFT is having to implement a new communication protocol that allows instant authorizations, a distributed API (DAPI) that allows connections from the POS and other applications, and a set of reference applications for the point of sale  and the wallet – just to name a few high-profile tasks.  


DERIVATIVE TOKENS COST MORE

Tokens run on top of another blockchain (say Ethereum), so purchasing a token is not sufficient to run the application that the token represents – you also need to purchase “fuel” (which is the underlying coin/token). The amount of fuel depends on the amount of transactions that the token application represents. Compare this to the blockchain like GRAFT which encompasses the value of entire transaction. As you can see, the cost of a token is more than meets the eye, in some cases much more.




PAY ATTENTION TO VALUATION, NOT TOKEN COST

Valuation (or capitalization) follows a simple formula: (Number of tokens or coins) x (Price of the token / coin).
It’s natural for people to think that smaller price of the token represents a bargain, but the critical piece in this equation is the number of coins or tokens that are being issued.
For example, which is less expensive (has higher valuation) – 1 billion tokens at $1, or 10 million tokens at $10?
It is as you could calculate the latter, with corresponding valuations of $1B vs $100MM.  So when you buy a $10 token from a 10 million token pool, you actually end up with a significantly (10x) larger piece of the pie than if you buy the same amount of the $1 token in a 1 billion token pool.
Most token ICO’s are not burdened by emission math (the formula that guides how the coins are mined, making the later mined coins harder to mine than earlier mined coins), so they issue a very large number of tokens (often in 100’s of millions or even billions) and then pricing the tokens low for the perception of the low entry cost.


Top 10 Derivative tokens (illustrating circulating supplies differences)


GRAFT VALUATION IS 1/40 OF DASH

GRAFT’s total final emission (the number of coins to ever be minted) is roughly 18 million (18,446,744 to be precise). We’re pre-mining certain number of coins (45%) to cover the ICO, marketing, reserves, and incentives. This is it. We will never be able to add or pre-mine any more coins!  We have also decided not to siphon off any fees from the transactions to fund the development like some of the other blockchains are doing.  
As such we have to make sure that whatever we raise now will be sufficient to sustain GRAFT project until no further development or support from the core team are required (we estimate that to be roughly 7 years with the overall team growing to 30-40 people). This is roughly $25MM.  
Now, we also have to account for additional unexpected expenses, crypto-currency fluctuations at the time of the raise, and potential taxable events. This means that we need to need to double the $25MM getting us to $50MM.
Since the ICO represents 25% of the total coin supply, the $50MM has to be equal to 25%, which brings the valuation to $200MM, and subsequently the price of the coin to roughly equivalent of $11 USD.


SUMMARY

When evaluating GRF pricing, it’s really important to compare apples to apples in terms of:
size of emission (or the number of tokens available)
type of a token/coin – a blockchain or a token on top of another blockchain
valuation which is a product of number of tokens multiplied by price
If you do such comparison, you will see that GRF token ICO compares very favorably against other blockchains on the market:

	Current circulation	Price	Market Cap / Valuation
Bitcoin	16,678,650	$6,100.00	$100,000,000,000
Etherium	95,715,037	$310.00	$29,500,000,000
Ripple	38,622,870,411	$0.20	$30,000,000,000
Litecoin	53,819,707	$60.00	$3,250,000,000
Dash	7,687,407	$340.00	$3,200,000,000
Monero	15,345,839	$118.00	$1,800,000,000
Graft (after ICO)	8,301,034	$11.00	$91,311,374

The original post: https://www.graft.network/2017/11/16/how-we-priced-graft-ico/

Doesn't seem like a good deal for early investors in the pre-sale when btc was $5500 back then, which is now adjusted to be $35 token with btc at $19500 divided by 100/1 dilution  is currently 0.35 cost basis for them. They should get rewarded extra tokens.  .    

It's actually exactly the opposite - pre-sellers ARE benefitting a lot from the raise in crypto.  They got their tokens at $.06 (after the discount and factoring in the split), and with the ICO prices at $.35, they are effectively getting a 6x return, which is 2x better than what they would have gotten if they held the funds in BTC!

[graft-project]

ICO Alert Report: Graft
https://blog.icoalert.com/ico-alert-report-graft-40c3eeafa4be

[samsonn25]

HOW WE PRICED GRAFT ICO

We get a lot of questions about the ICO pricing, including “Why GRAFT ICO is so expensive”. What follows is an attempt to explain how we arrived at the ICO pricing and what all contributed to it.

NOT ALL ALTCOINS ARE THE SAME

There are two types of altcoins (aka tokens) out on the market today – one that sit on top of another blockchain (like Ethereum), and others that implement their own blockchain. The ratio of derivative tokens to custom blockchain ones are roughly 100:1.  
It is a lot easier to do a derivative token based ICO – you just write a small amount of code in  Solidity (if Ethereum) – and you have a token you can sell. Doing or modifying a blockchain on the other hand involves a very substantial amount of engineering efforts – the team has to figure out the math and economics behind the blockchain, implement additional capabilities, secure that new functionality, create API’s, in many cases create applications like a wallet, etc. They also have to create a whole new network complete with node installation procedures, upgrade processes, and many other considerations.
GRAFT is the latter of the two – while leveraging CryptoNote protocol which addresses privacy, decentralization and fungibility as well as  great work that Monero team has done to improve scalability among other things, GRAFT is having to implement a new communication protocol that allows instant authorizations, a distributed API (DAPI) that allows connections from the POS and other applications, and a set of reference applications for the point of sale  and the wallet – just to name a few high-profile tasks.  


DERIVATIVE TOKENS COST MORE

Tokens run on top of another blockchain (say Ethereum), so purchasing a token is not sufficient to run the application that the token represents – you also need to purchase “fuel” (which is the underlying coin/token). The amount of fuel depends on the amount of transactions that the token application represents. Compare this to the blockchain like GRAFT which encompasses the value of entire transaction. As you can see, the cost of a token is more than meets the eye, in some cases much more.




PAY ATTENTION TO VALUATION, NOT TOKEN COST

Valuation (or capitalization) follows a simple formula: (Number of tokens or coins) x (Price of the token / coin).
It’s natural for people to think that smaller price of the token represents a bargain, but the critical piece in this equation is the number of coins or tokens that are being issued.
For example, which is less expensive (has higher valuation) – 1 billion tokens at $1, or 10 million tokens at $10?
It is as you could calculate the latter, with corresponding valuations of $1B vs $100MM.  So when you buy a $10 token from a 10 million token pool, you actually end up with a significantly (10x) larger piece of the pie than if you buy the same amount of the $1 token in a 1 billion token pool.
Most token ICO’s are not burdened by emission math (the formula that guides how the coins are mined, making the later mined coins harder to mine than earlier mined coins), so they issue a very large number of tokens (often in 100’s of millions or even billions) and then pricing the tokens low for the perception of the low entry cost.


Top 10 Derivative tokens (illustrating circulating supplies differences)


GRAFT VALUATION IS 1/40 OF DASH

GRAFT’s total final emission (the number of coins to ever be minted) is roughly 18 million (18,446,744 to be precise). We’re pre-mining certain number of coins (45%) to cover the ICO, marketing, reserves, and incentives. This is it. We will never be able to add or pre-mine any more coins!  We have also decided not to siphon off any fees from the transactions to fund the development like some of the other blockchains are doing.  
As such we have to make sure that whatever we raise now will be sufficient to sustain GRAFT project until no further development or support from the core team are required (we estimate that to be roughly 7 years with the overall team growing to 30-40 people). This is roughly $25MM.  
Now, we also have to account for additional unexpected expenses, crypto-currency fluctuations at the time of the raise, and potential taxable events. This means that we need to need to double the $25MM getting us to $50MM.
Since the ICO represents 25% of the total coin supply, the $50MM has to be equal to 25%, which brings the valuation to $200MM, and subsequently the price of the coin to roughly equivalent of $11 USD.


SUMMARY

When evaluating GRF pricing, it’s really important to compare apples to apples in terms of:
size of emission (or the number of tokens available)
type of a token/coin – a blockchain or a token on top of another blockchain
valuation which is a product of number of tokens multiplied by price
If you do such comparison, you will see that GRF token ICO compares very favorably against other blockchains on the market:

	Current circulation	Price	Market Cap / Valuation
Bitcoin	16,678,650	$6,100.00	$100,000,000,000
Etherium	95,715,037	$310.00	$29,500,000,000
Ripple	38,622,870,411	$0.20	$30,000,000,000
Litecoin	53,819,707	$60.00	$3,250,000,000
Dash	7,687,407	$340.00	$3,200,000,000
Monero	15,345,839	$118.00	$1,800,000,000
Graft (after ICO)	8,301,034	$11.00	$91,311,374

The original post: https://www.graft.network/2017/11/16/how-we-priced-graft-ico/

Doesn't seem like a good deal for early investors in the pre-sale when btc was $5500 back then, which is now adjusted to be $35 token with btc at $19500 divided by 100/1 dilution  is currently 0.35 cost basis for them. They should get rewarded extra tokens.  .    

It's actually exactly the opposite - pre-sellers ARE benefitting a lot from the raise in crypto.  They got their tokens at $.06 (after the discount and factoring in the split), and with the ICO prices at $.35, they are effectively getting a 6x return, which is 2x better than what they would have gotten if they held the funds in BTC!

Then I read it wrong, it looked like the ICO was going to be prices at $0.11

[unkletoken]

Does anyone know what number of tokens has the company issued?

[TheHas]

Is graft a credit card or a payments platform?

There are a few credit card type coins out there already, like monaco, which are already developed.

If graft is a payments platform, would vendors need special software? This might reduce take up.

[MadduckUK]

Does anyone know what number of tokens has the company issued?

Yes, I do, this information is freely available on the official website. By the way, the total issue is 1 844 674 400 GRF.

[MkrKing]

Good day, friends. In your opinion, will the platform give me a discount on the commission if I have large volumes of transactions?

[fgreg2692june]

Good afternoon. I haven’t found any specific information on who will pay for the costs of the commission in the network. But it’s very important, because if Graft allows paying with crypto-currencies in stores, I will definitely use this service.

[romgenie]

Good afternoon. I haven’t found any specific information on who will pay for the costs of the commission in the network. But it’s very important, because if Graft allows paying with crypto-currencies in stores, I will definitely use this service.

I hasten to make you glad,  all the  commission fees will be charged from a recipient of the payment, in your case it will be a seller who sold you some goods. So don’t worry, you can already plan how you will use this service))

[bittcrypt]

Good afternoon. I haven’t found any specific information on who will pay for the costs of the commission in the network. But it’s very important, because if Graft allows paying with crypto-currencies in stores, I will definitely use this service.

I hasten to make you glad,  all the  commission fees will be charged from a recipient of the payment, in your case it will be a seller who sold you some goods. So don’t worry, you can already plan how you will use this service))

What commissions for recipients of payment will there be?

[sinfazat22ron]

Will the founders of the company set a hard cap for ICO?

[romgenie]

Good afternoon. I haven’t found any specific information on who will pay for the costs of the commission in the network. But it’s very important, because if Graft allows paying with crypto-currencies in stores, I will definitely use this service.

I hasten to make you glad,  all the  commission fees will be charged from a recipient of the payment, in your case it will be a seller who sold you some goods. So don’t worry, you can already plan how you will use this service))

What commissions for recipients of payment will there be?

It depends on the daily number of transactions. If there’re no more than 10 GFR per day, the commission will be 0.1%. If there’re more than 10 GFR, the commission will be 1%, also, the bigger the volume of transactions is, the more it is profitable than 0.1%.

[nothappend]

Will the founders of the company set a hard cap for ICO?

If I'm not mistaken, hard cap will be 10 million USD during ICO.

[bittcrypt]

Good afternoon. I haven’t found any specific information on who will pay for the costs of the commission in the network. But it’s very important, because if Graft allows paying with crypto-currencies in stores, I will definitely use this service.

I hasten to make you glad,  all the  commission fees will be charged from a recipient of the payment, in your case it will be a seller who sold you some goods. So don’t worry, you can already plan how you will use this service))

What commissions for recipients of payment will there be?

It depends on the daily number of transactions. If there’re no more than 10 GFR per day, the commission will be 0.1%. If there’re more than 10 GFR, the commission will be 1%, also, the bigger the volume of transactions is, the more it is profitable than 0.1%.

How can a 1% commission be more profitable than 0.1% one??? Explain me please, if you don’t mind me asking.