[ANN] Natmin Pure Escrow - Escrow Services powered by Blockchain Technology

[Kinkadeinspired]

Does anyone know how long the dispute review time will take? Also, when will nodes be notified that their service is required to vote on a dispute? Will they receive an email or is it a notification that shows up on the platform only.. ?

The party who initiates the dispute process will be able to set the end time (24 hours minimum). This will give the other party enough time to provide their evidence. Once the evidence has been provided the voting process will start and should finish in a matter of a few hours. At the moment it is planned to have a vote sit not longer than 4 hours with a node. If the node does not vote or respond in 4 hours the vote will continue to the next available node. We can always adjust this time frame with the feedback from our community and nodes. Yes the nodes will receive a notification on the platform and an email.

It's an impressive system, disputes will be handled efficiently. I like that the vote will pass on to the next available node if the initial node doesn't respond in the 4-hour time frame. that was actually going to be my next question, but you have already answered it for me

Exactly, that's a very impressive feature, passing the voting along to the next available node is an excellent idea. This will reduce every delay the unavailable node might cause to the system prompting speed in solving disputes.

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[Cnote112]

What are the measures in place to ensure everything works perfectly on your platform

[phantam]

I think the idea to moving the dispute process to the chain as well is a really great idea that should allow the system to be completely decentralized as far as operations go or so it would seem

[natmin]

There marketing strategy adopted by Natmin looks great. Implementation of the currency conversion. Which would allow buyer to convert fiat to tokens and seller to convert tokens to fiat. Also there’s the token buy burn streak; where about 30% of tokens are burned, 15% once and the other 15% would be burned at 1% each month.

Why is the other 15% burnt in 1% tranches any particular reason to that, I mean they can just burn all at once.

From our whitepaper: 15% of the unsold tokens will be made available to be purchased on the platform itself. That available amount will be burned at a rate of 1% per month for 15 months or until that available amount reaches 0, whichever comes first. This is done to make the fiat implementation a smoother process for platform users who might not be familiar with crypto processes.

[natmin]

What are the measures in place to ensure everything works perfectly on your platform

Testing, Testing, Testing, Testing, and more testing. We have at least 3 months of testing between each release. For example; there will be 3 months of testing between alpha and beta release. 6 months of testing between beta and production release. We will implement a bug bounty as well as security audits on the smart contracts.

[AngelJoshua]

Guys, I just observed one thing at Natmin site. They are offering 20000 Natmin tokens for 1 ETH. So I want to confirm if the token price is fixed in ETH or USD?

Price is fixed in ETH if you look in their Whitepaper at page 19 you can see that it says "the price is set to 1 ETH = 20,000 NAT" i think this is very profitable for early investors as ETH is very low right now.

Along side you will get a 10% bonus if you purchase the token now. That's like 2000 tokens untop the original 20000 token, making it 14000 tokens for 1 eth. Amazing isn't it.

Yeah that's really a good deal if the NAT tokens price will be really good too someday. But for now I don't really like thinking about it's future price the most important now is we must grab this chance now to have more NAT.

[phantam]

Guys, I just observed one thing at Natmin site. They are offering 20000 Natmin tokens for 1 ETH. So I want to confirm if the token price is fixed in ETH or USD?

Price is fixed in ETH if you look in their Whitepaper at page 19 you can see that it says "the price is set to 1 ETH = 20,000 NAT" i think this is very profitable for early investors as ETH is very low right now.

Along side you will get a 10% bonus if you purchase the token now. That's like 2000 tokens untop the original 20000 token, making it 14000 tokens for 1 eth. Amazing isn't it.

Yeah that's really a good deal if the NAT tokens price will be really good too someday. But for now I don't really like thinking about it's future price the most important now is we must grab this chance now to have more NAT.

I try to avoid forecasting i take crypto as a gamble and i'm more satisified with my decisions that way if i throw in 100$ and it drops to 50$ in the short term i'm ok with it till it rebounds, thats just the crypto world we live in but with limited bonuses i'd doubt something like that will be an issue here, it's normally excessively large bonuses that break token pricepoints once they hit exchange

[ibininja]

What are the measures in place to ensure everything works perfectly on your platform

Testing, Testing, Testing, Testing, and more testing. We have at least 3 months of testing between each release. For example; there will be 3 months of testing between alpha and beta release. 6 months of testing between beta and production release. We will implement a bug bounty as well as security audits on the smart contracts.

the 6 months of testing will involve the public or it is going to be private testing? For the audit of smart contracts will you be signing up a third party?

[natmin]

What are the measures in place to ensure everything works perfectly on your platform

Testing, Testing, Testing, Testing, and more testing. We have at least 3 months of testing between each release. For example; there will be 3 months of testing between alpha and beta release. 6 months of testing between beta and production release. We will implement a bug bounty as well as security audits on the smart contracts.

the 6 months of testing will involve the public or it is going to be private testing? For the audit of smart contracts will you be signing up a third party?

The 3 months between alpha and beta testing will be done in-house and the 6 months between beta and production will be public/community testing.
Yes, we will engage a third party to audit the smart contracts.

[gee777]

There marketing strategy adopted by Natmin looks great. Implementation of the currency conversion. Which would allow buyer to convert fiat to tokens and seller to convert tokens to fiat. Also there’s the token buy burn streak; where about 30% of tokens are burned, 15% once and the other 15% would be burned at 1% each month.

Why is the other 15% burnt in 1% tranches any particular reason to that, I mean they can just burn all at once.

From our whitepaper: 15% of the unsold tokens will be made available to be purchased on the platform itself. That available amount will be burned at a rate of 1% per month for 15 months or until that available amount reaches 0, whichever comes first. This is done to make the fiat implementation a smoother process for platform users who might not be familiar with crypto processes.

Why are you guys taking your time to burn the tokens? Why not do everything at once. What is the essence of burning 1% of the token every month?

[natmin]

There marketing strategy adopted by Natmin looks great. Implementation of the currency conversion. Which would allow buyer to convert fiat to tokens and seller to convert tokens to fiat. Also there’s the token buy burn streak; where about 30% of tokens are burned, 15% once and the other 15% would be burned at 1% each month.

Why is the other 15% burnt in 1% tranches any particular reason to that, I mean they can just burn all at once.

From our whitepaper: 15% of the unsold tokens will be made available to be purchased on the platform itself. That available amount will be burned at a rate of 1% per month for 15 months or until that available amount reaches 0, whichever comes first. This is done to make the fiat implementation a smoother process for platform users who might not be familiar with crypto processes.

Why are you guys taking your time to burn the tokens? Why not do everything at once. What is the essence of burning 1% of the token every month?

I think the previous explanation you quoted says it fairly well. However, I will add that another reason for doing it over time is to ensure the possibility of a price increase and the stability of the token over time.

[faulerwilli]

What are the measures in place to ensure everything works perfectly on your platform

Testing, Testing, Testing, Testing, and more testing. We have at least 3 months of testing between each release. For example; there will be 3 months of testing between alpha and beta release. 6 months of testing between beta and production release. We will implement a bug bounty as well as security audits on the smart contracts.

Public Beta with Bug Bounty, just as I think it should always be. When the time comes, I will sign up for the beta.
other projects should take an example

[ning_aric]

On the dispute resolution, I see that there’s a cost for that. An additional 3% transaction cost of there’s a dispute. I think that’s a lot. Especially when the the compliant isn’t at fault. I understand thats to reduce unnecessary compliant. Would this cost be adjusted?

[CryptoBeefy]

On the dispute resolution, I see that there’s a cost for that. An additional 3% transaction cost of there’s a dispute. I think that’s a lot. Especially when the the compliant isn’t at fault. I understand thats to reduce unnecessary compliant. Would this cost be adjusted?

That's a fair point, especially if large sums, 3% is a lot! If I made a claim and I wasn't at fault I'd be annoyed to lose 3% of my money for that, surely the losing party should cough up the 3%?

[Nathan01]

Does anyone know how long the dispute review time will take? Also, when will nodes be notified that their service is required to vote on a dispute? Will they receive an email or is it a notification that shows up on the platform only.. ?

The party who initiates the dispute process will be able to set the end time (24 hours minimum). This will give the other party enough time to provide their evidence. Once the evidence has been provided the voting process will start and should finish in a matter of a few hours. At the moment it is planned to have a vote sit not longer than 4 hours with a node. If the node does not vote or respond in 4 hours the vote will continue to the next available node. We can always adjust this time frame with the feedback from our community and nodes. Yes the nodes will receive a notification on the platform and an email.

It's an impressive system, disputes will be handled efficiently. I like that the vote will pass on to the next available node if the initial node doesn't respond in the 4-hour time frame. that was actually going to be my next question, but you have already answered it for me

Creating that avenue for the community to be part of the project is indeed an awesome idea, this will help create an autonomous system, build up the value of the token because once there's a need for something, it becomes scarce, it takes a creative team to build a good brand that will stand the test of time and not phase out in a matter of months

Yes, I'm actually so impressed with the project, I might even become a node myself if I am eligible. It's a cool project to be a part of and I'm looking forward to watching their journey.

Here I was thinking nodes are computer elements and machines created for the sole purpose of settling dispute in the ecosystem never knew it was human work, obviously I have a lot of things to learn in the blockchain

[natmin]

On the dispute resolution, I see that there’s a cost for that. An additional 3% transaction cost of there’s a dispute. I think that’s a lot. Especially when the the compliant isn’t at fault. I understand thats to reduce unnecessary compliant. Would this cost be adjusted?

Yes is correct, 3% is a lot especially with large transaction amounts. This will be capped, but we have not decided on a specific amount yet. This amount can always be changed, according to the feedback of the community.

[Kinkadeinspired]

On the dispute resolution, I see that there’s a cost for that. An additional 3% transaction cost of there’s a dispute. I think that’s a lot. Especially when the the compliant isn’t at fault. I understand thats to reduce unnecessary compliant. Would this cost be adjusted?

That surely is a huge amount of money for complaining on my right. I think this should be reviewed and only the person at fault should pay this fee after the dispute is resolved.

[natmin]

On the dispute resolution, I see that there’s a cost for that. An additional 3% transaction cost of there’s a dispute. I think that’s a lot. Especially when the the compliant isn’t at fault. I understand thats to reduce unnecessary compliant. Would this cost be adjusted?

That's a fair point, especially if large sums, 3% is a lot! If I made a claim and I wasn't at fault I'd be annoyed to lose 3% of my money for that, surely the losing party should cough up the 3%?

We have been working on this strategy lately and yes the person at fault will essentially be liable for the 3%. We have also been working on a different strategy where both parties pay an insurance "deposit" amount. This amount will be used to pay the additional 3% and/or any fees. The person not at fault will receive all their money back. This strategy is still a work in progress and has not been confirmed yet.

[Ace44]

Does anyone know how long the dispute review time will take? Also, when will nodes be notified that their service is required to vote on a dispute? Will they receive an email or is it a notification that shows up on the platform only.. ?

The party who initiates the dispute process will be able to set the end time (24 hours minimum). This will give the other party enough time to provide their evidence. Once the evidence has been provided the voting process will start and should finish in a matter of a few hours. At the moment it is planned to have a vote sit not longer than 4 hours with a node. If the node does not vote or respond in 4 hours the vote will continue to the next available node. We can always adjust this time frame with the feedback from our community and nodes. Yes the nodes will receive a notification on the platform and an email.

It's an impressive system, disputes will be handled efficiently. I like that the vote will pass on to the next available node if the initial node doesn't respond in the 4-hour time frame. that was actually going to be my next question, but you have already answered it for me

Creating that avenue for the community to be part of the project is indeed an awesome idea, this will help create an autonomous system, build up the value of the token because once there's a need for something, it becomes scarce, it takes a creative team to build a good brand that will stand the test of time and not phase out in a matter of months

Yes, I'm actually so impressed with the project, I might even become a node myself if I am eligible. It's a cool project to be a part of and I'm looking forward to watching their journey.

Yea, its a scary world that we leave in and having something that will help boost the transaction of businesses online, will surely be embraced, i can't imagine how many times i've skipped doing one or two things online because of fear of the unknown, if natmin can get this right, a lot of brands and individuals will use their platform, its really a huge opportunity for them

[AngelJoshua]

Guys, I just observed one thing at Natmin site. They are offering 20000 Natmin tokens for 1 ETH. So I want to confirm if the token price is fixed in ETH or USD?

Price is fixed in ETH if you look in their Whitepaper at page 19 you can see that it says "the price is set to 1 ETH = 20,000 NAT" i think this is very profitable for early investors as ETH is very low right now.

Along side you will get a 10% bonus if you purchase the token now. That's like 2000 tokens untop the original 20000 token, making it 14000 tokens for 1 eth. Amazing isn't it.

Yeah that's really a good deal if the NAT tokens price will be really good too someday. But for now I don't really like thinking about it's future price the most important now is we must grab this chance now to have more NAT.

I try to avoid forecasting i take crypto as a gamble and i'm more satisified with my decisions that way if i throw in 100$ and it drops to 50$ in the short term i'm ok with it till it rebounds, thats just the crypto world we live in but with limited bonuses i'd doubt something like that will be an issue here, it's normally excessively large bonuses that break token pricepoints once they hit exchange

Yeah, Crypto is really a big gamble to everyone of us. Everyone of us here learned about just invest what we can afford to lose. But I hope the Natmin supporters will not going to dump their holdings once we got listed even we all know that it's really normal.