🔵🔵🔵[ANN] Covalent.ai – A Smart Policy Platform 🔵🔵🔵

[faulerwilli]

It's not so much being in debt it's just losses escalate faster, so say you have a 10$ that you leverage 10:1 that means you can buy 100$ worth of something, but if the market moves against you loses are 10:1 as well, so you'll get a margin call once you can't cover the principal is how i understand it to work. The thing is it works the other way too so gains are also seen as 10:1 in my example

Is it possible that you accidentally posted this posting in the wrong thread? :-)
At least I can't see any connection with Cova.

No, it's no accident at all  , he is explaining the concept of margin trade as COVA has been announced to be eligible for margin trade on the Bitmax exchange and somebody wanted to understand how margin trade works. His explanation is actually superb! 

I guess I overlooked the question on that one. Without quote this was not to be assigned for me. But thank you for the explanation

[1714298548]

1714298548

[Kinkadeinspired]

It's not so much being in debt it's just losses escalate faster, so say you have a 10$ that you leverage 10:1 that means you can buy 100$ worth of something, but if the market moves against you loses are 10:1 as well, so you'll get a margin call once you can't cover the principal is how i understand it to work. The thing is it works the other way too so gains are also seen as 10:1 in my example

Is it possible that you accidentally posted this posting in the wrong thread? :-)
At least I can't see any connection with Cova.

No, it's no accident at all  , he is explaining the concept of margin trade as COVA has been announced to be eligible for margin trade on the Bitmax exchange and somebody wanted to understand how margin trade works. His explanation is actually superb! 

I guess I overlooked the question on that one. Without quote this was not to be assigned for me. But thank you for the explanation

It's understandable, it would have been expected that he quoted his reply so as to give clarity as to who he was referring to so your misunderstanding is not farfetched, anyway, you are welcome and takes for taking my correction the way you did. Someone else would have fought with me. Lol

[em777]

It's not so much being in debt it's just losses escalate faster, so say you have a 10$ that you leverage 10:1 that means you can buy 100$ worth of something, but if the market moves against you loses are 10:1 as well, so you'll get a margin call once you can't cover the principal is how i understand it to work. The thing is it works the other way too so gains are also seen as 10:1 in my example

Is it possible that you accidentally posted this posting in the wrong thread? :-)
At least I can't see any connection with Cova.

No, it's no accident at all  , he is explaining the concept of margin trade as COVA has been announced to be eligible for margin trade on the Bitmax exchange and somebody wanted to understand how margin trade works. His explanation is actually superb! 

Good, it is now that I got a clear idea of the discussion thanks for the clarification I will use this opportunity to say a big congratulations to cova

[cryptossi]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

[phantam]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

Volume isn't a constant thing especially for newer networks, hype and demand will shift from day to day especially if people aren't actively day trading it trying to skim profits, it's pretty traditional for smaller projects to have big and low days, i'd imagine were just in some slow, days without demand for the network yet as it's still heavily in development any real volume is mostly based on guesswork and early hodlers

[Nathan01]

Covalent is quickly getting attention from both Blockchain and non Blockchain based firms. It’s a project that could be adopted across all industries. Every firm needs to protect its users information. That’s on vital part of security.

Its non-blockchain attention its getting inspires me to believe in the longevity of the project
This type of project is hard to come by even in the traditional situation however I think they are going to take even longer to get the necessary adoptions

It would be interesting to see how the different blockchain solutions would react with the new Ethereum update to happen. I think the update would help many projects in a good way of course.

Update postponed, market crashed and staggering now I'm on heavily lost
My faith in Ether is gradually waning, COVA us based on Ether, I wish they have their own blockchain running already

[em777]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

well, this sort of behavior is not new most of the time we see trading volume fluctuate as though someone is flipping a switch. at this level, I don't think there is any need to worry because it still going to bounce back

[Ace44]

By 2 tokens, does it mean they both will be functional or only one of them will be functional?, this is my first time of hearing about this and i think an in-depth knowledge of the process is required in order to give the community a clear vision of what they intend they do and i will also love to have the link where i can read about the swap statement

Well, I can only quote you, what an admin from their Telegram group posted some time ago:

"Regarding the chain, we have two chains at the moment: 1. one on ETH network. This one is just for a secure transaction and smart contracts 2. CovaChain. This is where we store metadata and encrypted secret bits (which are put together by routing nodes to generate decryption keys). ETH network is not suitable for this as storing larger data on ETH is still cost prohibitive. In addition, abstract our collection of TEE nodes are part of this CovaChain as it provides secure computation infrastructure."

Thanks for the clarification, i think its a pretty decent strategy, considering the fact that ETH is one of the highly used mode of transaction in the crypto community and as such, it will be wise to just focus the transaction aspect on the ETH network, which will create more room for such and the CovaChain network can just sit back and do the core aspect of the brand

[Sozialtourist]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

Volume isn't a constant thing especially for newer networks, hype and demand will shift from day to day especially if people aren't actively day trading it trying to skim profits, it's pretty traditional for smaller projects to have big and low days, i'd imagine were just in some slow, days without demand for the network yet as it's still heavily in development any real volume is mostly based on guesswork and early hodlers

And maybe people who wanted to buy their COVAs to hodl them now have gathered enough and aren't day-trading anymore. At least that's my explanation.
However, I wouldn't worry too much about the current trading volume. Better to have a small volume with sustainable growth than a PnD scheme.

[ning_aric]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

Volume isn't a constant thing especially for newer networks, hype and demand will shift from day to day especially if people aren't actively day trading it trying to skim profits, it's pretty traditional for smaller projects to have big and low days, i'd imagine were just in some slow, days without demand for the network yet as it's still heavily in development any real volume is mostly based on guesswork and early hodlers

And maybe people who wanted to buy their COVAs to hodl them now have gathered enough and aren't day-trading anymore. At least that's my explanation.
However, I wouldn't worry too much about the current trading volume. Better to have a small volume with sustainable growth than a PnD scheme.

Covalent team doesn’t look willing to pump or dump the tokens. It’s a long term project and trading volume of Covalent listed token is just a small part of the whole picture. Soon the protocol would be launched and real time value of cova token would pick up.

[Getadaaa]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

I think this is a good time to get more cova token. It’s yrading at a very low discounted price. You could get more cova tokens for less USD. Once protocol gets launched it’s going to spike once again.

[Pricebrianer]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

I think this is a good time to get more cova token. It’s yrading at a very low discounted price. You could get more cova tokens for less USD. Once protocol gets launched it’s going to spike once again.

Yes. I think it’s best to keep track of Covalent upcoming events and new partnerships. It’s current trading volume is likely to move up once a new listing, partnerships or event is announced

[faulerwilli]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

I think there was a trading competition shortly after the listing. (but I'm not quite sure) if there was a competition, it's obvious that the trading volume is not as high anymore.

[cryptossi]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

I think there was a trading competition shortly after the listing. (but I'm not quite sure) if there was a competition, it's obvious that the trading volume is not as high anymore.

This would make more sense, as the trading competition has ended there is less trading volume. It is a shame though to see it performing poorly, hopefully, there will be a positive reversal soon.

[Corleone100]

I noticed for a while now Cova haven’t posted any updates on their twitter page. It’s advisable for the team to do something about it. Twitter is a good medium to reach out to a large audience.

[AngelJoshua]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

I just noticed it too. Maybe some people after buying are really keeping their cova now? It's really a big drop on volumes but let's hope that it will going to go back soon.

[Kinkadeinspired]

What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.

Well, for one, we are in a bearish market at the moment  and it has affected almost every asset in the market. Also, another reason I think is the cause, is the fact that there has been less activities and news from the team to maintain people's enthusiasm about the project, like I said, it's just my thought.

[ibininja]

Covalent is quickly getting attention from both Blockchain and non Blockchain based firms. It’s a project that could be adopted across all industries. Every firm needs to protect its users information. That’s on vital part of security.

Its non-blockchain attention its getting inspires me to believe in the longevity of the project
This type of project is hard to come by even in the traditional situation however I think they are going to take even longer to get the necessary adoptions

It would be interesting to see how the different blockchain solutions would react with the new Ethereum update to happen. I think the update would help many projects in a good way of course.

Update postponed, market crashed and staggering now I'm on heavily lost
My faith in Ether is gradually waning, COVA us based on Ether, I wish they have their own blockchain running already

For now yeah; Hoping the update to happen to Ethereum would better the market. I think the market will have take longer than expected to get back to its former 200-400USD

[gee777]

I noticed for a while now Cova haven’t posted any updates on their twitter page. It’s advisable for the team to do something about it. Twitter is a good medium to reach out to a large audience.

They posted something today. About a meeting with leaders from other blockchain projects. They would be talking on certain topics

[CrypticBabe]

I just found out COVA tokens could be mined much more easily on the mainnet as long as you have a computer with Inter CPU, you can join the network and mine COVA.

Yeah, but that'll be only possible when the CovaChain mainnet goes live. Right now COVA only has tokens on the Ethereum blockchain and these can't be mined.

The launching of Covalent mainnet would make a lot of difference. We could mine these tokens and make profits. Btw would cova tokens be moved from ether chain to cova. ?

I think there was a discussion recently, but I forgot the result:-)
Some say there will be two tokens, others say there will be a swap and then only one token.  I am also of the opinion that there will be a swap.

Yes, we had this discussion and if I remember correctly, they will have 2 different tokens. So no swap as far as I know. But I could be wrong. Best is to keep checking their Telegram. If there are any news, I am sure they will announce it there.

Definitely, Telegram is the best place to get whatever information we might need but if truly there will be two tokens, I find it strange because there is definitely no need for having two of the same token. Best is to have a token swap if you ask me

I totally agree with that instead of having two different tokens they must swap it instead except if those tokens have a different features or benefits on the project?

Did they announced when they will release their main net with their very own currency?
I've checked their public testnet and its fully operational with no bugs so far! So they should release it soon!

I dont know where all this confusion is coming from, they have said it that the cova token will remain on th ethereum blockchain. which means that there will be no cova token on their main net.

That means their mainnet will be use for running cove protocols, that makes a lot sense given the fact that they need it to be fairly fast  and secured

their mainnet will probably be used for processing data with adding a extra level of encryption to make it secure and not exposed to online theft! however i'm really confused on how COVA coin will be used here?