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 | This guide will be guide starting from nothing, to convert your Moons to ETH, I found lots of guides, but I ended up having to use about 4 guides, and a few videos to get it done, so I decided to put this guide together for the community. submitted by DanklyNight to CryptoCurrency [link] [comments] To see the current price of Moons, go here: https://info.honeyswap.org/token/0x1e16aa4df73d29c029d94ceda3e3114ec191e25a Linking Metamask, and your Reddit wallet.
https://preview.redd.it/p5dxrldcjrp51.png?width=507&format=png&auto=webp&s=1c3431e7f1940eea7cab8e6d1870362e18f713df
https://preview.redd.it/i63q1snijrp51.png?width=478&format=png&auto=webp&s=5e7de78801c20b3264f4a1fb00821a17b659d2fd Funding your wallet to cover fees Now you need to fund your main network "Main Ethereum Network" with around $20 of Ethereum (GAS fees were quite high when I transferred, mileage may vary here). This is to cover purchasing Dai to cover conversions from xDai to Dai etc
I now have plenty of Rinkeby ETH, so feel free to reach out and I will send some over. *** None of those worked for me, step 4 is how I got the ETH to convert it. Now you have ETH in your "Main Ethereum Network" wallet and your "Rinkeby Test Network" Wallet, you now need some Dai in your "Main Ethereum Network" wallet
Selling large quantities of moons, at once, may tank the market a touch, due to the currently quite low liquidity. At this point, you can continue to use xmoon.exchange, or you can use Honeyswap, which has around 10x the liquidity, at the time of posting. Continuing on xMOON
This can take up to 1 hour as reported by some users.
I thought I would document this process for others, as I Imagine like myself many of us are going through hard times at the moment due to Covid, and the $200ish I pulled from this, will help myself massively, so hopefully, it will help some of you! Please let me know, if I have missed anything, or if there is anything I should add. EDIT 1: Added note about using Honeyswap, and instructions on how to do so, due to the increased liquidity. EDIT 2: Added multiple Defi Exchange instructions, as the GAS fees on Oasis were getting really high. |
 | A quick TL;DR breakdown of the project: submitted by Chrisc9234 to CryptoCurrencies [link] [comments] Name: Nyan $NYAN Supply: 33,000 Staked: 29,000+ Summary: Aims to be the first decentralized digital hedge fund. Its tokenomic structure allows individual users to invest pooled staking rewards collectively to build and increase the funds size like a traditionally managed private fund. This is accomplished using a governance voting system embedded in the contracts code. Website: Nyan.finance DeFi is creating a blockchain environment like never before. New tokens are deployed everyday on the Ethereum chain, most of which aim for a quick 30x or more with gimmicky concepts, get-rich-quick schemes and downright copy/pasting past successful ideas. This has caused record breaking transactions on the Ethereum network, which are also due in part to the recent UNI airdrop. With that being said, not all of these new tokens are a waste of time. Innovation always finds its way, this time in the form of Nyan.Finance. https://preview.redd.it/w6206hwq8no51.png?width=326&format=png&auto=webp&s=8f8a02b398b4d88b68b3b87136966228e27fb515 Nyan.finance (NYAN) is a new ERC20 token which bills itself as "a DeFi governance token that turns individual traders into a collective whale. NYAN holders can stake their NYAN and receive a secondary token known as Catnip. When a user claims their acumulated rewards, they will only receive 80% of the reward. The other 20% is sent to be stored by the NYAN address in order to be used as part of the pumping mechanism. NYAN holders will be able to bid on a Uniswap token that they want to purchase with the funds in one, or a series of, large buys." NYAN has a total of 33,000 tokens for a total supply. The token can be broken down to 18 decimals. It did not have a private or presale, so tokens were made readily available for distribution after contract launch. 1,000 NYAN were distributed to the development team, with 2,000 also released as giveaway rewards. Liquidity is also locked for holders to trade on Uniswap. Currently, 1 NYAN = $204.54 (0.595424 Eth) at the time of this writing, with a fully diluted market cap of $6,749,820. As mentioned above, Catnip is also part of the NYAN tokenomic system, along with a third token named DarkNyan. All three tokens work hand in hand, and each asset will be outlined in full detail to explain how each attributes itself to the growth of the overall NYAN ecosystem. Essentially, NYAN aims to provide a decentralized, community governed hedge fund, giving the holders of NYAN token the rights to decide collectively what they will invest in and for how long. Being decentralized, this gives community members an awesome responsibility, one that most other private hedge-funds or other iterations of a hedge-fund fail to offer. As mentioned earlier, a user who owns NYAN has the option to stake their NYAN to receive the secondary token Catnip (NIP) (Contract Address: 0xD2B93f66FD68c5572BFB8EBf45E2Bd7968B38113). NIP currently has 28,440 tokens in circulation, with the supply growing as more NIP are minted via the staking of NYAN. The current staking reward is: Blocks x NYAN staked / 100,000. NIP is the token given to holders who stake NYAN. When a holder wants to claim their NIP staking rewards, users only receive 80% of that reward, with 20% of it being sent to the NYAN contract. The 20% of the NYAN staking rewards, which are now NIP held by the NYAN contract, are then pooled together and invested by the community via a voting system. In other words, voters create NIP via staking, the staking reward is then partially contributed to the decentralized ecosystem to create a hedge-fund made up of the combined contribution from stakers, with full control assessed to the community. NIP does have further utility, which will be explained below. https://preview.redd.it/338h5utx8no51.jpg?width=1079&format=pjpg&auto=webp&s=dbf13e1bf6d8244789bb7cf5415e9fc2b7db2efa Along with NYAN and NIP, there a third asset which plays a large part in this ecosystem called Dark Nyan (DNYAN) (Contract Address: 0x23b7f3a35bda036e3b59a945e441e041e6b11101). DNYAN is attained joining the NIP/ETH liquidity pool on Uniswap. DNYAN currently has a supply of 554.14 tokens, and has its own major impact in regards to tokenomics. The current staking reward is: NIP/ETH LP (UNI-V2) Token x 6500/ 3,600,000 = DNYAN per day. (It is recommended to claim mined DNYAN as often as possible as difficulty increases) Once you have joined this pool and you receive the LP tokens, you navigate back to Nyan.finance to stake the LP token. Staking effectively allows the user to mine the DNYAN token, which has its own utility as well. The DNYAN token will allow NYAN voters, via an upcoming integration with Polkadot, to acquire non ERC20 assets. This effectively ensures that NYAN voters will have access to a vast collection of available cryptocurrency assets (while Polkadot does not support ALL cryptocurrency assets at this time, it is its goal and mission to support the vast majority of projects, which will effectively allow the NYAN token ecosystem full access to hedge against the assets there). https://preview.redd.it/bddabmju8no51.jpg?width=1060&format=pjpg&auto=webp&s=6d86d30cf921a0c1edbac90eb0da4aa268b647c4 To break down how the voting system will work, along with other questions the development team wanted to address if they ever arose, here is a bit of detail straight from the projects website: Welcome to the steering wheel of a multi-million dollar machine In this system, Nyan holders will be able to freely govern the protocol as they wish. The voting and function calls operate on a bidding system, in which the bid with the most votes at the end of a round will be executed. A bid can be a call to a contract, or a combination of calls to one or multiple contracts, all within the same transaction. What are Bids? Glad you asked! Bids are a set of instructions that relay what functions to call with the Voting Connector contract. A bid is composed of the Bidder's address, a unique bidId, and a series of arrays with types including Integers, Strings, and Bytes. With these data fields, anyone will be able to construct a bid with its own set of parameters for the function to be called. Additionally, bids can be chained. No, this isn't street fighter. An additional bid can be chained to an initial bid. This additional bid is known as a chain bid. A chain bid requires an initial bid in order to be created. With chains, much more complex transactions can be created. It's a Pandora's box to be honest. How does voting occur? Voting for bids occurs within periods known as voting rounds. Before each round begins, Nyan holders can construct a bid and propose it in order to have it ready for voting. Other Nyan holders will vote using Nyan as a proof of collateral and Catnip as a fee. These fees will vary based on the amount of votes an individual is attempting to place in any one round. The more votes, the higher the Catnip cost. With this route, the cost of voting should be negligible for smaller holder. The current minimum Nyan needed to vote is 1 Nyan. However, this can be changed by voters. How does the machine maintain value? An reasonable thought that any onlooker would immediately have is: Is the protocol dependent on turning a profit? Fortunately, the answer is no. The Nyan machine will never have to turn a single profit in order to maintain value for Nyan holders. Here's why. All the funds held by the funding contract were generated by Nyan holders that have either staked their Nyan or Catnip Liquidity tokens. This means that those funds can be considered as speculated into existence. Now in order to make sure that value will always outpace minting and speculation, the goal of the Nyan protocol is continuously burn Catnip used as a fee for voting. Half of this Catnip will also be swapped for dNyan in order to provide rewards for individuals that provide liquidity to Nyan. How do distributions work? Voters decide when and what to distribute, with certain limitations. Distributions can be called once every 2 days maximum. The distribution can be for any token held by the funding address. Catnip and dNyan distributions are limited to 10% of their available amount in any one transaction. Distributions of other assets can use all of the available asset. In order to claim their proportion of the distributed asset, claimers must stake their Nyan or Catnip Liquidity tokens. The tokens will only be released when the distribution period has ended. This is to prevent users from unfairly claiming twice Is the voting contract fool-proof? No contract is fool-proof. The Nyan voting contracts, however are built with modularity in mind. Each contract can be upgraded, replaced and reconnected. Voters will only have to vote for a bid that reconnects the contract to the rest of the ecosystem. Built this way, Nyan can continuously be updated by it's community without the need for a central developer. The voters can also vote for a transfer that pays an external auditor to look over any code in the ecosystem. To get a better technical look at the upcoming voting contracts, visit the Nyan Github and look over the voting contract files. The files in the github are not the most current version, please do not fork them into production. There are several bugs and mistakes that have been done in the unpushed version. I find the decentralized aspect of NYAN very appealing. It is a way for users to take control as a collective whale and make decisions with their vote. I have not seen any sort of ecosystem like this in the cryptocurrency space, and I am curious to see it explored and expanded, as the environment surrounding NYAN allows for contract upgrades and new integrations based on the voting system. With DeFi continuing to be a driving force in the recent surge in crypto related assets, can NYAN become a mainstay and solidify itself as the first truly decentralized hedge-fund? The playing field is set for it to do just that. Here are some things to expect in the near future along with other important facts:
(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk. --------------------------------------------------------------------------------------------------------- nyan.finance Links: - Website: nyan.finance - Github: github.com/geass-zero/nyan.finance - Medium: https://medium.com/@nyanfinance - Telegram: https://t.me/nyanfinance - Telegram (news): https://t.me/nyanfinancenews - Trello Roadmap: https://trello.com/b/neXGkfpP/nyanfinance-roadmap |
 | A quick TL;DR breakdown of the project: submitted by Chrisc9234 to ethtrader [link] [comments] Name: Nyan $NYAN Supply: 33,000 Staked: 29,000+ Summary: Aims to be the first decentralized digital hedge fund. Its tokenomic structure allows individual users to invest pooled staking rewards collectively to build and increase the funds size like a traditionally managed private fund. This is accomplished using a governance voting system embedded in the contracts code. Website: Nyan.finance DeFi is creating a blockchain environment like never before. New tokens are deployed everyday on the Ethereum chain, most of which aim for a quick 30x or more with gimmicky concepts, get-rich-quick schemes and downright copy/pasting past successful ideas. This has caused record breaking transactions on the Ethereum network, which are also due in part to the recent UNI airdrop. With that being said, not all of these new tokens are a waste of time. Innovation always finds its way, this time in the form of Nyan.Finance. Nyan.finance (NYAN) is a new ERC20 token which bills itself as "a DeFi governance token that turns individual traders into a collective whale. NYAN holders can stake their NYAN and receive a secondary token known as Catnip. When a user claims their acumulated rewards, they will only receive 80% of the reward. The other 20% is sent to be stored by the NYAN address in order to be used as part of the pumping mechanism. NYAN holders will be able to bid on a Uniswap token that they want to purchase with the funds in one, or a series of, large buys." NYAN has a total of 33,000 tokens for a total supply. The token can be broken down to 18 decimals. It did not have a private or presale, so tokens were made readily available for distribution after contract launch. 1,000 NYAN were distributed to the development team, with 2,000 also released as giveaway rewards. Liquidity is also locked for holders to trade on Uniswap. Currently, 1 NYAN = $204.54 (0.595424 Eth) at the time of this writing, with a fully diluted market cap of $6,749,820. As mentioned above, Catnip is also part of the NYAN tokenomic system, along with a third token named DarkNyan. All three tokens work hand in hand, and each asset will be outlined in full detail to explain how each attributes itself to the growth of the overall NYAN ecosystem. Essentially, NYAN aims to provide a decentralized, community governed hedge fund, giving the holders of NYAN token the rights to decide collectively what they will invest in and for how long. Being decentralized, this gives community members an awesome responsibility, one that most other private hedge-funds or other iterations of a hedge-fund fail to offer. As mentioned earlier, a user who owns NYAN has the option to stake their NYAN to receive the secondary token Catnip (NIP) (Contract Address: 0xD2B93f66FD68c5572BFB8EBf45E2Bd7968B38113). NIP currently has 28,440 tokens in circulation, with the supply growing as more NIP are minted via the staking of NYAN. The current staking reward is: Blocks x NYAN staked / 100,000. NIP is the token given to holders who stake NYAN. When a holder wants to claim their NIP staking rewards, users only receive 80% of that reward, with 20% of it being sent to the NYAN contract. The 20% of the NYAN staking rewards, which are now NIP held by the NYAN contract, are then pooled together and invested by the community via a voting system. In other words, voters create NIP via staking, the staking reward is then partially contributed to the decentralized ecosystem to create a hedge-fund made up of the combined contribution from stakers, with full control assessed to the community. NIP does have further utility, which will be explained below. https://preview.redd.it/2l19fmstdpo51.jpg?width=1079&format=pjpg&auto=webp&s=8c2e54a09d192846dce377162e6c989912feee91 Along with NYAN and NIP, there a third asset which plays a large part in this ecosystem called Dark Nyan (DNYAN) (Contract Address: 0x23b7f3a35bda036e3b59a945e441e041e6b11101). DNYAN is attained joining the NIP/ETH liquidity pool on Uniswap. DNYAN currently has a supply of 554.14 tokens, and has its own major impact in regards to tokenomics. The current staking reward is: NIP/ETH LP (UNI-V2) Token x 6500/ 3,600,000 = DNYAN per day. (It is recommended to claim mined DNYAN as often as possible as difficulty increases) Once you have joined this pool and you receive the LP tokens, you navigate back to Nyan.finance to stake the LP token. Staking effectively allows the user to mine the DNYAN token, which has its own utility as well. The DNYAN token will allow NYAN voters, via an upcoming integration with Polkadot, to acquire non ERC20 assets. This effectively ensures that NYAN voters will have access to a vast collection of available cryptocurrency assets (while Polkadot does not support ALL cryptocurrency assets at this time, it is its goal and mission to support the vast majority of projects, which will effectively allow the NYAN token ecosystem full access to hedge against the assets there). https://preview.redd.it/cygv0j5xdpo51.jpg?width=1060&format=pjpg&auto=webp&s=061e936248ed92db9bfbae0bf16c746bd3a3866f To break down how the voting system will work, along with other questions the development team wanted to address if they ever arose, here is a bit of detail straight from the projects website: Welcome to the steering wheel of a multi-million dollar machine In this system, Nyan holders will be able to freely govern the protocol as they wish. The voting and function calls operate on a bidding system, in which the bid with the most votes at the end of a round will be executed. A bid can be a call to a contract, or a combination of calls to one or multiple contracts, all within the same transaction. What are Bids? Glad you asked! Bids are a set of instructions that relay what functions to call with the Voting Connector contract. A bid is composed of the Bidder's address, a unique bidId, and a series of arrays with types including Integers, Strings, and Bytes. With these data fields, anyone will be able to construct a bid with its own set of parameters for the function to be called. Additionally, bids can be chained. No, this isn't street fighter. An additional bid can be chained to an initial bid. This additional bid is known as a chain bid. A chain bid requires an initial bid in order to be created. With chains, much more complex transactions can be created. It's a Pandora's box to be honest. How does voting occur? Voting for bids occurs within periods known as voting rounds. Before each round begins, Nyan holders can construct a bid and propose it in order to have it ready for voting. Other Nyan holders will vote using Nyan as a proof of collateral and Catnip as a fee. These fees will vary based on the amount of votes an individual is attempting to place in any one round. The more votes, the higher the Catnip cost. With this route, the cost of voting should be negligible for smaller holder. The current minimum Nyan needed to vote is 1 Nyan. However, this can be changed by voters. How does the machine maintain value? An reasonable thought that any onlooker would immediately have is: Is the protocol dependent on turning a profit? Fortunately, the answer is no. The Nyan machine will never have to turn a single profit in order to maintain value for Nyan holders. Here's why. All the funds held by the funding contract were generated by Nyan holders that have either staked their Nyan or Catnip Liquidity tokens. This means that those funds can be considered as speculated into existence. Now in order to make sure that value will always outpace minting and speculation, the goal of the Nyan protocol is continuously burn Catnip used as a fee for voting. Half of this Catnip will also be swapped for dNyan in order to provide rewards for individuals that provide liquidity to Nyan. How do distributions work? Voters decide when and what to distribute, with certain limitations. Distributions can be called once every 2 days maximum. The distribution can be for any token held by the funding address. Catnip and dNyan distributions are limited to 10% of their available amount in any one transaction. Distributions of other assets can use all of the available asset. In order to claim their proportion of the distributed asset, claimers must stake their Nyan or Catnip Liquidity tokens. The tokens will only be released when the distribution period has ended. This is to prevent users from unfairly claiming twice Is the voting contract fool-proof? No contract is fool-proof. The Nyan voting contracts, however are built with modularity in mind. Each contract can be upgraded, replaced and reconnected. Voters will only have to vote for a bid that reconnects the contract to the rest of the ecosystem. Built this way, Nyan can continuously be updated by it's community without the need for a central developer. The voters can also vote for a transfer that pays an external auditor to look over any code in the ecosystem. To get a better technical look at the upcoming voting contracts, visit the Nyan Github and look over the voting contract files. The files in the github are not the most current version, please do not fork them into production. There are several bugs and mistakes that have been done in the unpushed version. I find the decentralized aspect of NYAN very appealing. It is a way for users to take control as a collective whale and make decisions with their vote. I have not seen any sort of ecosystem like this in the cryptocurrency space, and I am curious to see it explored and expanded, as the environment surrounding NYAN allows for contract upgrades and new integrations based on the voting system. With DeFi continuing to be a driving force in the recent surge in crypto related assets, can NYAN become a mainstay and solidify itself as the first truly decentralized hedge-fund? The playing field is set for it to do just that. Here are some things to expect in the near future along with other important facts:
(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk. --------------------------------------------------------------------------------------------------------- nyan.finance Links: - Website: nyan.finance - Github: github.com/geass-zero/nyan.finance - Medium: https://medium.com/@nyanfinance - Telegram: https://t.me/nyanfinance - Telegram (news): https://t.me/nyanfinancenews - Trello Roadmap: https://trello.com/b/neXGkfpP/nyanfinance-roadmap |
 | A quick TL;DR breakdown of the project: submitted by Chrisc9234 to defi [link] [comments] Name: Nyan $NYAN Supply: 33,000 Staked: 29,000+ Summary: Aims to be the first decentralized digital hedge fund. Its tokenomic structure allows individual users to invest pooled staking rewards collectively to build and increase the funds size like a traditionally managed private fund. This is accomplished using a governance voting system embedded in the contracts code. Website: Nyan.finance DeFi is creating a blockchain environment like never before. New tokens are deployed everyday on the Ethereum chain, most of which aim for a quick 30x or more with gimmicky concepts, get-rich-quick schemes and downright copy/pasting past successful ideas. This has caused record breaking transactions on the Ethereum network, which are also due in part to the recent UNI airdrop. With that being said, not all of these new tokens are a waste of time. Innovation always finds its way, this time in the form of Nyan.Finance. https://preview.redd.it/zelq46p3fbp51.png?width=305&format=png&auto=webp&s=953765bc7927de1d702bbe1270d5507c6567edbe Nyan.finance (NYAN) is a new ERC20 token which bills itself as "a DeFi governance token that turns individual traders into a collective whale. NYAN holders can stake their NYAN and receive a secondary token known as Catnip. When a user claims their acumulated rewards, they will only receive 80% of the reward. The other 20% is sent to be stored by the NYAN address in order to be used as part of the pumping mechanism. NYAN holders will be able to bid on a Uniswap token that they want to purchase with the funds in one, or a series of, large buys." NYAN has a total of 33,000 tokens for a total supply. The token can be broken down to 18 decimals. It did not have a private or presale, so tokens were made readily available for distribution after contract launch. 1,000 NYAN were distributed to the development team, with 2,000 also released as giveaway rewards. Liquidity is also locked for holders to trade on Uniswap. Currently, 1 NYAN = $204.54 (0.595424 Eth) at the time of this writing, with a fully diluted market cap of $6,749,820. As mentioned above, Catnip is also part of the NYAN tokenomic system, along with a third token named DarkNyan. All three tokens work hand in hand, and each asset will be outlined in full detail to explain how each attributes itself to the growth of the overall NYAN ecosystem. Essentially, NYAN aims to provide a decentralized, community governed hedge fund, giving the holders of NYAN token the rights to decide collectively what they will invest in and for how long. Being decentralized, this gives community members an awesome responsibility, one that most other private hedge-funds or other iterations of a hedge-fund fail to offer. As mentioned earlier, a user who owns NYAN has the option to stake their NYAN to receive the secondary token Catnip (NIP) (Contract Address: 0xD2B93f66FD68c5572BFB8EBf45E2Bd7968B38113). NIP currently has 28,440 tokens in circulation, with the supply growing as more NIP are minted via the staking of NYAN. The current staking reward is: Blocks x NYAN staked / 100,000. NIP is the token given to holders who stake NYAN. When a holder wants to claim their NIP staking rewards, users only receive 80% of that reward, with 20% of it being sent to the NYAN contract. The 20% of the NYAN staking rewards, which are now NIP held by the NYAN contract, are then pooled together and invested by the community via a voting system. In other words, voters create NIP via staking, the staking reward is then partially contributed to the decentralized ecosystem to create a hedge-fund made up of the combined contribution from stakers, with full control assessed to the community. NIP does have further utility, which will be explained below. https://preview.redd.it/42ad76olfbp51.jpg?width=1080&format=pjpg&auto=webp&s=6fb05d9ef041d40edf9643a190c2f33e272d09b4 Along with NYAN and NIP, there a third asset which plays a large part in this ecosystem called Dark Nyan (DNYAN) (Contract Address: 0x23b7f3a35bda036e3b59a945e441e041e6b11101). DNYAN is attained joining the NIP/ETH liquidity pool on Uniswap. DNYAN currently has a supply of 554.14 tokens, and has its own major impact in regards to tokenomics. The current staking reward is: NIP/ETH LP (UNI-V2) Token x 6500/ 3,600,000 = DNYAN per day. (It is recommended to claim mined DNYAN as often as possible as difficulty increases) Once you have joined this pool and you receive the LP tokens, you navigate back to Nyan.finance to stake the LP token. Staking effectively allows the user to mine the DNYAN token, which has its own utility as well. The DNYAN token will allow NYAN voters, via an upcoming integration with Polkadot, to acquire non ERC20 assets. This effectively ensures that NYAN voters will have access to a vast collection of available cryptocurrency assets (while Polkadot does not support ALL cryptocurrency assets at this time, it is its goal and mission to support the vast majority of projects, which will effectively allow the NYAN token ecosystem full access to hedge against the assets there). https://preview.redd.it/cq87o4fwfbp51.jpg?width=1060&format=pjpg&auto=webp&s=1ca9dc0e67087d2bfa89310e164f81f677e4d2ac To break down how the voting system will work, along with other questions the development team wanted to address if they ever arose, here is a bit of detail straight from the projects website: Welcome to the steering wheel of a multi-million dollar machine In this system, Nyan holders will be able to freely govern the protocol as they wish. The voting and function calls operate on a bidding system, in which the bid with the most votes at the end of a round will be executed. A bid can be a call to a contract, or a combination of calls to one or multiple contracts, all within the same transaction. What are Bids? Glad you asked! Bids are a set of instructions that relay what functions to call with the Voting Connector contract. A bid is composed of the Bidder's address, a unique bidId, and a series of arrays with types including Integers, Strings, and Bytes. With these data fields, anyone will be able to construct a bid with its own set of parameters for the function to be called. Additionally, bids can be chained. No, this isn't street fighter. An additional bid can be chained to an initial bid. This additional bid is known as a chain bid. A chain bid requires an initial bid in order to be created. With chains, much more complex transactions can be created. It's a Pandora's box to be honest. How does voting occur? Voting for bids occurs within periods known as voting rounds. Before each round begins, Nyan holders can construct a bid and propose it in order to have it ready for voting. Other Nyan holders will vote using Nyan as a proof of collateral and Catnip as a fee. These fees will vary based on the amount of votes an individual is attempting to place in any one round. The more votes, the higher the Catnip cost. With this route, the cost of voting should be negligible for smaller holder. The current minimum Nyan needed to vote is 1 Nyan. However, this can be changed by voters. How does the machine maintain value? An reasonable thought that any onlooker would immediately have is: Is the protocol dependent on turning a profit? Fortunately, the answer is no. The Nyan machine will never have to turn a single profit in order to maintain value for Nyan holders. Here's why. All the funds held by the funding contract were generated by Nyan holders that have either staked their Nyan or Catnip Liquidity tokens. This means that those funds can be considered as speculated into existence. Now in order to make sure that value will always outpace minting and speculation, the goal of the Nyan protocol is continuously burn Catnip used as a fee for voting. Half of this Catnip will also be swapped for dNyan in order to provide rewards for individuals that provide liquidity to Nyan. How do distributions work? Voters decide when and what to distribute, with certain limitations. Distributions can be called once every 2 days maximum. The distribution can be for any token held by the funding address. Catnip and dNyan distributions are limited to 10% of their available amount in any one transaction. Distributions of other assets can use all of the available asset. In order to claim their proportion of the distributed asset, claimers must stake their Nyan or Catnip Liquidity tokens. The tokens will only be released when the distribution period has ended. This is to prevent users from unfairly claiming twice Is the voting contract fool-proof? No contract is fool-proof. The Nyan voting contracts, however are built with modularity in mind. Each contract can be upgraded, replaced and reconnected. Voters will only have to vote for a bid that reconnects the contract to the rest of the ecosystem. Built this way, Nyan can continuously be updated by it's community without the need for a central developer. The voters can also vote for a transfer that pays an external auditor to look over any code in the ecosystem. To get a better technical look at the upcoming voting contracts, visit the Nyan Github and look over the voting contract files. The files in the github are not the most current version, please do not fork them into production. There are several bugs and mistakes that have been done in the unpushed version. I find the decentralized aspect of NYAN very appealing. It is a way for users to take control as a collective whale and make decisions with their vote. I have not seen any sort of ecosystem like this in the cryptocurrency space, and I am curious to see it explored and expanded, as the environment surrounding NYAN allows for contract upgrades and new integrations based on the voting system. With DeFi continuing to be a driving force in the recent surge in crypto related assets, can NYAN become a mainstay and solidify itself as the first truly decentralized hedge-fund? The playing field is set for it to do just that. Here are some things to expect in the near future along with other important facts:
(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk. --------------------------------------------------------------------------------------------------------- nyan.finance Links: - Website: nyan.finance - Github: github.com/geass-zero/nyan.finance - Medium: https://medium.com/@nyanfinance - Telegram: https://t.me/nyanfinance - Telegram (news): https://t.me/nyanfinancenews - Trello Roadmap: https://trello.com/b/neXGkfpP/nyanfinance-roadmap |
Go Ethereum is one of the three original implementations (along with C++ and Python) of the Ethereum protocol. It is written in Go, fully open source and licensed under the GNU LGPL v3. See our repository and downloads section for the code! Ethereum brand assets Transparent background. ETH diamond (glyph) Download. ETH diamond (gray) Download. ETH diamond (color) Download. ETH diamond (purple) ... ETH logo portrait (white) Download. ETH logo landscape (white) Download. ETH wordmark (white) Download. Website last updated: October 6, 2020. Individuals. Ethereum (ETH) is one of the leading cryptocurrency, which has existed since 2015. At the same time, it is a software framework for the DeFi (decentralized finance) market, since the blockchain of this crypto currency allows you not only to follow the history of transactions, but also to save any executable software products (smart contracts). Ethereum is a global, decentralized platform for money and new kinds of applications. On Ethereum, you can write code that controls money, and build applications accessible anywhere in the world. Ethereum wallet is an application that allows you to manage your Ethereum Private key and send or receive ETH. Such wallets exist in desktop, mobile, hardware, or website versions. The most secure ones are hardware wallets; however, they may cost as much as $100 and may not be as convenient for everyday use (you have to take this hardware ...
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