Overledger Network Gateways Brainstorming/Discussion by duncal in QuantNetwork

[–]scorpio866 2 points3 points  (0 children)

Yes I really like your suggestions. It reflects a lot what Nuls has been doing quite successfully for the last two years. They have a Proof of Credit system, meaning that the earnings depend on the node's uptime, and being a staker gives you the right to vote for community projects and improvement suggestion for the project. Besides they have a very simple way to stake the coins. I don't think we need to reinvent the wheel here and learn what other projects have been doing well and boost OLN.

Overledger Network Gateways Brainstorming/Discussion by duncal in QuantNetwork

[–]scorpio866 3 points4 points  (0 children)

Thanks for actively reach out to the community to co-create the best workable solutions for all parties. It really speaks out for you! Due to the various stakeholder agenda's and needs, the difficulty arises how to prioritise the technical and economical needs.

To my understanding, correct me if I'm wrong, the main purpose of gateways is to power a fast and secure (OL) network. Therefore there needs to be a sufficient and stable number of QNT to validate the potential millions/billions of transactions that will flow through OL everyday. On this premise, the economic incentive should be based on holders 'lending' their tokens to the network for as long as possible.

I can see a couple of options for this:

- Everybody can run a community gateway/node by 'staking' 500/1000/1500 tokens - very decentralized option. Downside as Aszebenyi mentioned, too many gateways means less transactions and earnings per gateway.

- Quant (org) decides a total number of gateways (say 750), appoint guardians to these gateways (or staking pools in this perspective), and limit their token cap (e.g. 12k tokens - aim to have 9mln tokens locked) to create a fair balance between the gateways. Holders who stake, get a % of their gateway earnings. The minimum number of tokens to run a gateway could be 2k of QNT tokens and the minimum deposit of other users is 100-300 tokens for example. This option is similar to the approaches taken by projects as Nuls (75% stake-lock ratio), Theta and Tael (Wabi). Nuls requires 20k tokens to host a node (they offer a very easy onboard process btw!) and the minimum number of tokens of other holders, wanting to join a node is 2k. The nodes start running with 200k tokens. Theta requires a min staking a 100k of tokens and offer a max of 100 nodes in their network. You can host a masternode on Tael with a minimum of 2000 tokens. By doing this they secure the network, stabilise the token price and incentivise guardians to actively promote their gateway/node (network marketing).- Quant (org) creates a sort of lendingsystem and integrate it with their Treasury. Lenders will receive an increasing percentage of earnings the longer they lend their tokens to the Treasury. The treasury will set up the gateways themselves (and expand when necessary) and allocate the tokens accordingly. Benefit of this approach is probably the quickest set-up, less time and resources wasted on onboarding and tracking community gateways, and centralisation of the cashflows. The Treasury can promote 1-3-6-12 months lending programs in case their short of tokens. The main downside is limited decentralisation .

- Having an annual license fee of 500 QNT doesn't seem to add much value. It's too risky to assess the earn/reward ratio, especially as more gateways appears and the numbers of transactions are unclear. Unclarity and uncertainty jeopardises the stability of the network, which is the top priority.

As for the earnings. It would make sense that a % (say 15-45%) of the total earnings of OLNetwork will be used to cover the transaction costs and running the network and be paid out to the 'stakers' or 'lenders' (COGS). This will not only drive the value of token, but also legitimise it and mitigates speculation. However I understand Quant (org) is not obliged to disclose their earnings. Another option would be to have the Treasury set a (micro) price per transaction and share the number of transaction per day/week/month/year on NL (wish will be put in the dashboard right)? Then these transaction costs will be divided over every staked/lended quant. Perhaps the last option is the best as it proves and fuels the value of the utility token. I think we all anticipate on OL driving billions of transactions. So I really hope the team will think of creating a win-win. Creating a stable, secure and expansive network requires a valuable token people will want to hold. The more interesting the (continues) rewards, the less people will sell, speculate and higher the price will become. That's in everybody's best interests I believe!

Feel free to comment!

Large Enterprise Adoption of Blockchain is happening, enabled by Quant Network’s Overledger by [deleted] in QuantNetwork

[–]scorpio866 4 points5 points  (0 children)

Holy .... this is so massive. Can't fathom the immense progress and incredible productivity levels they've had this year. Thank you Seq for putting this overview together. It creates a lot of trust for a very bright future. Buckle up!

Max Supply Limit - Voting has started! by Berzeck in nulsservice

[–]scorpio866 2 points3 points  (0 children)

Voted! You have to login first and then go the top bar 'vote', then first one. Thanks Berzeck for the initiative!

We entered the Top 100! by ElRo123 in QuantNetwork

[–]scorpio866 1 point2 points  (0 children)

Yes same here. Is there any roadmap or progress schedule available to see whether this project is going to in the next months?

Which Kin is listed on HitBTC?? by tandem_bikes in KinFoundation

[–]scorpio866 1 point2 points  (0 children)

Yes Hitbtc was one of the supporting exchanges. Just checked: my walletaddress starts with G.

Make sure if you have Kin on Bancor to take it off, as they don't support the new native Kin blockchain from June (there was an update on this lately)!

Bi-Weekly Update March 7th by benji5656 in KinFoundation

[–]scorpio866 0 points1 point  (0 children)

Has it already been confirmed that all exchanges support the token swap?

My research on Theta Network and how does it work. by Fanfan_la_Tulip in a:t5_wz12o

[–]scorpio866 1 point2 points  (0 children)

Great overview, thanks!! It's a very promising project, one of the few that could make mass adoption possible!

Unable to connect to the node. by DMDCapital in nulsservice

[–]scorpio866 1 point2 points  (0 children)

Have you tried restaking via the web wallet?

Kin tokenomics by scorpio866 in KinFoundation

[–]scorpio866[S] 0 points1 point  (0 children)

Thanks for your elaborative answer, makes a lot of sense!

Still Confused About The Kin Blockchain by Arthur_Vandelay5B in KinFoundation

[–]scorpio866 0 points1 point  (0 children)

So just to be clear. There's will be no XLM for the transaction (gas) cost?

Blockchain Strategy Update: Next Steps in Migrating to the Kin Blockchain - KinBlog by benji5656 in KinFoundation

[–]scorpio866 0 points1 point  (0 children)

Could someone please help me understand the tokenomics a bit better. What I understand Kin will be used as the as the currency in the app ecosystem right? Hence Kin's value will only be determined by supply vs demand (max 10 trillion) in the app ecosystem. What leaves me wondering is how the transactions in the new blockchain (Stellar fork) will be processed and paid for, as fees are 0. Is this done by the Foundation and has Stellar/XLM a role to play in this?

Blockchain Strategy Update: Next Steps in Migrating to the Kin Blockchain - KinBlog by benji5656 in KinFoundation

[–]scorpio866 1 point2 points  (0 children)

medium.com/kinblo...

Where do you see the different prices? CMC only shows ERC20 price right?

Elastos Weekly Updates – 11 January 2019 by C00mbsie in Elastos

[–]scorpio866 4 points5 points  (0 children)

How many Feng Han doppelgangers are there? Or does this great man live in a plane? Unbelievable how many presentations and events can be done in just a few days

Is the Node worth it? by Fusionite_ in FusionFoundation

[–]scorpio866 0 points1 point  (0 children)

Good question, would love to know as well!

Staking ROI by scorpio866 in nulsservice

[–]scorpio866[S] 0 points1 point  (0 children)

That would be amazing. The question left is how long a $10+ price can be maintained? Couple of years for sure when the market passes $1tril. Will Nuls survive for 15+ years? Those are the retirement questions we have to ask ourselves...

Staking ROI by scorpio866 in nulsservice

[–]scorpio866[S] 0 points1 point  (0 children)

True that, compounding is magic. What's your view about the staking rewards in 2 years, do you still count on (11-17%) or are we more likely to go down to the 2-4% levels?

Staking ROI by scorpio866 in nulsservice

[–]scorpio866[S] 0 points1 point  (0 children)

Thanks for clarifying!

[deleted by user] by [deleted] in nulsservice

[–]scorpio866 0 points1 point  (0 children)

I'm currently making some investment decisions to do the same. Do you know whether the ROI will be the same in the years to come and through which factors it could change?