[ANN][PoW] PegNet: A CPU Mineable Stablecoin and Synthetics Network for DeFi

[shinratensei_]

For the record, there was no premine.  No coins were held in reserve.  There was no ICO.  This was a fair launch coin and there is no company or foundation in control or that holds coins on behalf of PegNet.  This is a decentralized ecosystem.

Do you intend to compete with Bitcoin? but I see PEGNET more than Bitcoin and it looks like Ethereum,
I see pEth, pXLM, pBitcoin etc. what does all this mean? I am curious

Those are "pegged" versions of those cryptocurrencies.  Miners subscribe to external market APIs and submit the price data for those crypto to PegNet and, long story short, on PegNet you can then convert into and out of those pegged assets.

is that some kind of token made from the Pegnet platform? I think your explanation about it can not be understood,
I myself am still confused about how there are pBtc, pEth etc.

PEG is the mineable token of PegNet.  PEG is awarded to miners who subscribe to external market APIs and publish the data to PegNet.  This data is for fiat, crypto, and precious metals at present and these miners are acting as decentralized oracles.  The price these miners agree upon for USD, BTC, ETH, XLM, Gold, etc becomes pUSD, pBTC, pXLM, pGold, etc.  These are the "pegged assets".  This, for example, makes pUSD a decentralized, fully auditable competitor to the likes of centralized stablecoins like USDT and Tether.  pGold becomes a crypto version of gold that should always follow the value of gold.  So if you want to hold crypto that follows the price of gold, you now can.

Please let us know if you'd like further clarification on specific points.

And what's the real purpose of the PegNet if that will be awarded to the miners only? You are saying if there will be pUSD and etc. is there a hot wallet to store the reserved funds? as far as i know if the stable coin will always need something to back it to make sure if the price of that coin will be stable without getting the volatility from the market.
Can Peg be converted into those coins?
If you are having the data for the collateral to backed the coin and it can'e be used to backed your coins.
Im feeling curious about how it works consider you are offering various pair to be used as a stable coin.

Excellent questions.

1.  On PegNet, pAsset prices will always be what the oracles (miners that subscribe to external market APIs) come to agree is the value.  So for example, on PegNet, pUSD should always be $1.00.  On EXCHANGES, the price is stabilized by arbitrage.  You can read about that here.

2.  PEG can be converted into any pAsset for just 1/10th a cent.  Any pAsset can be converted into any other pAsset for just 1/10th a cent.  Each block, in addition to the 5,000 PEG for miners, 5,000 PEG are available for converting from pAssets to PEG.  You can read about that here. 

that's very interesting. Is that mean when PEG will be converted to the Passet and the price will always be divided /10, i meant about we will get 10% value from the Passet, right?
Thank you so much for your link.
Is there a partnership with factom? I just see someone above me already published a link that said FACTOM ceo is also talking about Pegnet. Is he an advisor for Pegnet?

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[PegNet]

PEG has been added to Bilaxy which is a top 10 exchange according to CMC.  https://bilaxy.com/trade/PEG_USDT

In addition, 5 PegNet pairs were added to IDEX as an ERC20 gateway has been created for PegNet which creates Ethereum Interoperability for PegNet, and thus Factom ecosystem.  The following tokens have been listed: PEG, pUSD, pFCT, pXAU (pGold), and pKRW (ETH pairs) - https://idex.market/eth/peg

IDEX is the #2 DEX by volume according to Etherscan: https://etherscan.io/stat/dextracker

[Btc_1856]

PEG has been added to Bilaxy which is a top 10 exchange according to CMC.  https://bilaxy.com/trade/PEG_USDT

In addition, 5 PegNet pairs were added to IDEX as an ERC20 gateway has been created for PegNet which creates Ethereum Interoperability for PegNet, and thus Factom ecosystem.  The following tokens have been listed: PEG, pUSD, pFCT, pXAU (pGold), and pKRW (ETH pairs) - https://idex.market/eth/peg

IDEX is the #2 DEX by volume according to Etherscan: https://etherscan.io/stat/dextracker

Very good to know that, even I have seen the announcement from the index, which very soon they are going to list the Pegnet coin in the indexing platform. So within the short period of time, you have managed to list the PEG coin in Bilaxy too.

[justoiurii]

Hello, all) Could someone help me using wallet? I've got seed frase and see balance on explorer but can't see the same in factorial wallet( Why?

[PegNet]

Attention Miners

Pegnet had a fork at height 225337. This was caused by a slight implementation difference of pegnetd and pegnet. Pegnetd is the offical implementation of the protocol, as that is the binary run by the exchanges and users of the system. For this reason, we are applying a patch to pegnet to resolve this slight difference.

Update is here: https://github.com/pegnet/pegnet/releases/tag/v0.4.0

If you are running the reference miner, you will need to update immediately. Currently all reference miners are running on the wrong fork.

What does this mean for you?

- If you are a solo miner using the reference miner. Update immediately, as you are not currently earning any rewards.
- If you are running the prosper pool software as the pool operator, you do not need to take any action. The prosper pool does not have the bug.
- If you are a miner on the orax or prosper-pool, you do not need to take any action.

[podpod]

"PegNet to be a TOP 30 Asset in 2020" - AMA With Paul Snow (Factom CEO) - https://www.publish0x.com/dyec/pegnet-be-top-30-asset-2020-ama-paul-snow-factom-ceo-xkryek

LOL   How much did they pay for that article?! 

Pegnet is crashing fast and the exchange with the largest volume is just Wash trading.  Its so funny to see.
Factom is down 97% from ath. 

Cannot see how Pegnet going to succeed.  Market is showing what it thinks of it already

[PegNet]

Blog post: Reaching PegNet Community Consensus Via PoW

[VitaliyCryptor]

This is something revolutionary. Good prospects for the project for the future. I love your coin and follow your project. I believe that soon your coin will fly high. It will be a great success in your efforts.

[VitaliyCryptor]

I see how your volumes are growing and I am pleased to see your project the best. I really like your plans

[VitaliyCryptor]

For me, this is something unusual for what is happening with your coin; buying in large volumes; the price goes rapidly to the top 

[songsunling]

watched.

[TITI45555]

PEGNET WAS HACKED.......


get the hell out now

[coeurdelion]

No users founds were affected, project is still very early so it's quite easy to get enough hash power to attack it but attacker couldn't liquidate the assets due to lack of liquidity on exchanges anyway. If there was enough liquidity he wouldn't be able to perform the 51% attack in the first place because likely the hash power required to perform a 51% attack would be impossible to get as you can't use asics and the total hash power would be much higher.

This project is very underrated IMO

[gembira]

How this could be a stable coin if your price dropped twice in last month? And you don't have backed fiat currencies for your "stable token". And where from comes "infinite liquidity"?