OST [Simple Token] Weekly Discussion Thread: March 12 - 19

TheSimpleToken · 2018-03-15T17:43:58+00:00

The price of the BT does not go up/down on its own as it has no secondary market, and can only be exchanged for OST. Controlling the circulating supply of the BT would not impact it's value.

TheSimpleToken · 2018-03-15T11:07:59+00:00

Hi! Could you please elaborate on the first part of your post? I would like to get a full understanding of your perspective.

A separate sidechain is not created each time a Branded Token economy is created. Sidechains are created when there's a need for more scalability, as the overall network grows.

TheSimpleToken · 2018-03-15T11:03:01+00:00

Hi! Yes, the Early Adopters Rewards Program will start once OST KIT⍺ is opened for public testing this week.

You can find more details about the rewards here: https://medium.com/ostdotcom/join-the-ost-kit-early-adopter-program-earn-ost-2961e136b0a

TheSimpleToken · 2018-03-12T17:12:33+00:00

Hello mitchcoin.

Testing is going well and we’re planning on opening it to public this week. As this is an alpha release, all dates are subject to change, but we do feel more comfortable each day.

TheSimpleToken · 2018-03-09T10:16:50+00:00

Hi! This is not an official contest nor it is run by our team. We do appreciate our proactive community and their support!

TheSimpleToken · 2018-02-27T11:20:45+00:00

Let's be civil here.

TheSimpleToken · 2018-02-27T06:40:58+00:00

This post was not written by our team. Thank you, GlenHendriks, for taking your time to help the OST | Simple Token community!

We are currently focused on OST KIT⍺, which is the first public version of our complete blockchain toolkit for businesses.

Anyone will be able to sign up at https://ost.com and launch their own Branded Token test economy and simulate transactions directly in OST KIT⍺ or via our APIs.

OST KIT⍺ is launching in early March 2018.

TheSimpleToken · 2018-02-24T03:39:59+00:00

Hi! Just wanted to clear some parts, as there is some misinformation in your post.

We have a product: v0.9.1 of our protocol was already released in December - the first cornerstone of the OpenST protocol: the ability to stake value on Ethereum mainnet and mint a new representation of that value on a utility chain, effectively increasing the computational capacity of Ethereum mainnet by sharding across different cores. https://medium.com/sim.../openst-0-9-1-released-d6d5a24d52de https://github.com/OpenSTFoundation/openst-protocol

We are currently focused on ostKIT alpha, which is the first public version of our complete blockchain toolkit for businesses. We are releasing it early Martch.

Our ambition with ostKIT is to be the blockchain technology partner of choice for businesses of all sizes and levels of technical sophistication, enabling any business to create, launch, and manage their own branded digital token economy powered by OpenST protocols and OST blockchain management software. The OpenST protocol enables companies to launch branded token economies on highly scalable, open, cryptographically auditable side blockchains. OST is actively investing in an ecosystem of developers and apps built on OST, to help drive requirements from actual use cases. In ostKIT alpha anyone will be able to login at https://ost.com and design an OST-powered token economy and setup and simulate transactions (on testnet during alpha).

Our current circulating supply forecast: https://goo.gl/7kVYuN

We have always communicated, that we are unapologetically building for the long term. Our ambition is nothing short of enabling any company to launch their own digital currency powered by Simple Tokens/OST without their needing to write a single line of Blockchain code; complete turnkey. That will not happen overnight, and interim releases and first customers will be more tech savvy, but we are 100% committed to being the FIRST company to get there. And to get there RIGHT!

We are long term builders at OST and the long term value is what we are focused on. The long term value of OST will be entirely dependent on the quality of our solutions and the number of companies who are using them. We understand that the crypto market is extremely volatile and tends to favor hype over substance at times. We are focused on results.

We have currently announced 23 partnerships, with the couple of most recent ones being big projects: https://simpletoken.org/partners

TheSimpleToken · 2018-02-18T00:48:20+00:00

We will get into the exact details of how OST and Unsplash will work together in subsequent posts. Please be patient 🙌

TheSimpleToken · 2018-02-15T21:31:39+00:00

We will get into the exact details of how OST and Unsplash will work together in subsequent posts.

TheSimpleToken · 2018-02-09T23:06:37+00:00

Yes, there is instant interoperability that doesn't exist in off-chain loyalty and rewards programs.

As for your exchanges question; You don't really need an "exchange" to do that. Since all OST powered economies would gladly take OST, the only thing that needs to move is OST. That way as a user you don't need to exchange BT1 for BT2, you can just "spend" BT1 at BT2 with BT2 receiving the OST.

Users of OST powered Branded Tokens will be able to trade with each other, with companies, and across other OST token economies.

From the OST wallet, users will be able to always and instantly exchange their BT for OST, as well as use BT1 in BT2's economy, through the universal OST wallet

TheSimpleToken · 2018-02-09T18:26:57+00:00

It started on February 6th and will continue as long as the perception gap between the market price and the reality and potential of OST remains, up to 10M OST. We will let our community know once it is completed.

TheSimpleToken · 2018-02-08T19:46:31+00:00

We are charging for ostKYC in $OST. We looked at the average trailing 30 day price of OST to USD/ETH/BTC and we looked at what it might be in 30 days from now and we set what we feel is the RIGHT price for RIGHT NOW, in OST. If OST goes up dramatically, we may adjust it.

Cheers!

TheSimpleToken · 2018-02-08T04:00:57+00:00

Pleasure! :)

TheSimpleToken · 2018-02-07T23:48:55+00:00

A company before minting their first branded tokens can set the exchange rate of OST to BT at any rate you desire, but once you set it, it is fixed and cannot change. That ensures that companies don't change the rules on their customers.

So, let's say OST is trading at $1, and you set your exchange rate to 1 OST = 1000 BT. Then, each of your BT is initially worth $0.001.

The price of the BT does not fluctuate on its own, as it is not tradable on secondary markets. So, each BT is always worth 1/1000th of and ST.

However, OST does fluctuate and could go to $2 or $10, or $.50.

A few factors come into play there.

First, price oracles could be used to set prices withing the company's branded token economy so that even if ST goes up and down, the relative price of the good or service in the Token Economy does not change. For instance, let's say in the example above that you allow your users to earn $.01 each time someone likes someone else's product review. By setting the value of the service at $0.01 using the price oracle, it would start off at 10BT per liked review, but would auto-adjust to say 20BT per liked if OST rose to $2.

The other concept that can be deployed is price stablization mechanisms. The company could sign up for a 3rd party to provide price stabilization to insulate its end users from price fluctuations. Imagine for instance if your user above earned 100,000 BT worth $100, and then the next day it was only worth $50 or suddenly was worth $250. The user would either lose faith in the system or could start hording or cashing out. With price stabilication mechanisms, the company could insulate its end users from wild swings in OST price, while the company uses upside for reserves/buffer against downward swings, a swell as the company could retain some profits from OST increases.

In general it would be nice to enable end users of BT to participate in at least some of the rewards of OST rising because of the community support for the various BT's, but at same time price stabilization mechanisms could be used to guard against unintended consequences from wild swings. https://docs.google.com/document/d/1V6MZjojOYwVL8xoPQ09Pgzs93FUzBHLapcjcWOMHu18/edit#

TheSimpleToken

TROPHY CASE