NXTER.ORG

SuperNET Newsletter #15

Welcome to the SuperNET!

As ever, life moves fast in crypto, and never more so than in the SuperVerse. The main news is that InstantDEX is approaching launch, another dividend is about to be distributed, we have a SuperNET v1 beta LiteWallet, but that’s not all, there’s plenty more still to tell you about – including a new addition to the CORE coins list: FIBRE.

Topics

  • v1.1.3beta
  • v1.1.3beta LITE
  • MGW
    • Coin IDs
    • MGW fees
  • FIBRE: New SuperNET CORE coin
  • Jay dividend
  • InstantDEX
    • API level test of InstantDEX
    • Testing help required
    • InstantDEX Lotto
  • Half-anon Cryptocards available
  • VPN Bounty
  • BTCD and NXT
  • SuperNET CORE coins

SuperNET v1.1.3beta

SuperNET wallet v.1.1.3 beta is available for testing:
https://bitbucket.org/longzai1988/supernetv1/downloads/supernetv1-1.3b.zip

Hash: 4B186C0DDE96C5F1432213BD1F4C96A34CDD98F177CCCBE63BF2F39025BDDEA6

SuperNET v1.1.3 beta litewallet

The litewallet version – a pure html client – is now available for testing: https://bitbucket.org/longzai1988/supernetv1-lite/downloads/supernet-JAY-1.0b.zip

Hash: 57E04EFCE3D25608E59270E03B0EF9477CDCC4953AF95F6C0284BED3E46CB8C9

The ‘advanced’ view is currently disabled for Jay wallet.

Supernet-litewallet-nxtinside

 

SuperBTCD-Bitcoindark_nxt

MGW

SuperCoins ID

As part of the ongoing evolution of the Multigateway to become a key part of SuperNET, coin token names have been updated, as have asset IDs.

‘Note that all the assets delivered by SuperNET v1b (and found in the new SN wallet dashboard) follow different naming.’, writes VanBreuk. ‘The SuperNET MGW uses new assets. mgwBTCD has become superBTCD. And although James said iDEX could handle old and new assets as equivalent, we’ll be offering an asset swap for anyone who wants to update assets soon.’

And Longzai advises us that: ‘When we decide to drop the legacy mgw there will be 1:1 asset swap’.

The SuperCoin IDs are:

superBTCD – 6918149200730574743
superVRC – 9037144112883608562
superOPAL – 6775076774325697454
superBITS – 13120372057981370228
superVPN – 7734432159113182240 (withdraws still not operational)

SuperFIBRE (multisig details in development) and the SN versions of BTC, DOGE and others will soon be added. See https://multigateway.org for more information.

When you fund your SuperNET Wallet, the corresponding tokens will automatically show in the AE of your Nxt account where you can trade them manually for NXT or other assets, for example US$-pegged CoinUSD asset (ID 12982485703607823902) or the EUR-pegged equivalent (ID 18331302471589054607), which are also Coinomat gateways to fiat, via SEPA transfers to VISA / Mastercard.

Asset < – > Asset trades will be enabled in SuperNET with InstantDEX integration.
Interesting Nxt AE assets include: http://test.nxter.org/sorted-nxt-asset-exchange-listing/

MGW fees

‘Current MGW withdrawal fees are based on coin transaction fees and Nxt transaction fees, which need to be covered by the service. Since fees are subtracted from, for instance, BTCD withdrawal, there is a value in the servers’ configuration that defines the approximate equivalent of the NXT transaction fee in BTCD. Then the system applies twice that amount (covering the asset transfer and messages costs) plus a safe amount based on the regular BTCD tx fee, keeping in mind that multisig transactions may involve higher fees than regular ones. When InstantDEX brings price feeds, these “approximate equivalents” should refer to current market rate.’

At this point, the total MGW fees are these fixed amounts:

BTCD – 0.022
VRC – 2.002
OPAL – 2.02
BITS – 20.02
VPN – 200.002 (VPN withdraws are not working until coin developers patch the VPN daemon for full multisig support)

Minimum withdrawals are

BTCD – 0.5
VRC – 50
OPAL – 50
BITS – 500
VPN – 5000

New CORE coin: FIBRE

SuperNET has a new CORE coin: Fibre.

supernet-fibrecoin

Last week, the announcement was made:
‘Fibre will be leaving the Blocknet Project.’

‘We wish the Blocknet all the best, decisions like this aren`t easy but we are changing direction for Fibre in 2015. Fibre community and investors will always stand in the first place. In our opinion we are choosing a better future for Fibre’.
https://bitcointalk.org/index.php?topic=737771.msg10698947#msg10698947

‘The Fibre dev team has been represented in SuperNET Slack for more than a month but has always made it perfectly clear that Fibre was part of the Blocknet initiative. Recently, a real attempt to fulfill the requirements to integrate Fibrecoin in SuperNET as a CORE coin was started; opening Fibre’s source core tech to SuperNET analysts (the review was done by chanc3r), and after that, a swap of SuperNET assets with Fibre assets was required’, writes Eth.

Learn more about Fibre @ http://test.nxter.org/new-supernet-core-coin-fibrecoin/
and enjoy the rest of this newsletter while listening to an Interview with Fibrecoin leader Killakem!

This is SuperNET Radio:

https://soundcloud.com/supernetradio/fibre-coins-founder-developer

Fibre is available on the SuperNET Multipool http://altnuts.com, and also Xpool.ca multipool.

We welcome the FIBRE Team and look forward to finding out more about their forthcoming projects.

Jay dividend

The Jay dividend is ready for distribution. 7.5% to SuperNET, 7.5% to NXTventure and 5% to JLH (jl777hodl) will be distributed. This will occur when fewer than 8,161 SuperNET assets are left in BTER. At the time of writing, BTER’s cold wallet has just over 20,000 SuperNET assets in it.

Jay (ID 8688289798928624137) will allow people without any software on their system to run the SuperNET GUI and access all coins. Jay will get an InstantDEX revshare when it makes a lite-InstantDEX. ‘I added a ‘GUI’ field so we can track which GUIs the orders are coming from’, writes James.

InstantDEX

iDEX1

A preview video of the InstantDEX client alpha is available here.

You can see InstantDEX in realtime (thanks to MyNxt.info) here.

‘InstantDEX core API is feature complete other than automatching hybrid orderbooks’, James writes. ‘Got the asset<->asset trading working and looks good. So now what is left is the most advanced case (hybrid orders), which isn’t even necessary at first and making it automatch and chart signals.

Then I will switch over to network security enhancements while the testers are pounding on it.

So, the ramchains, realtime MGW and InstantDEX should go into maintenance mode for me very soon. Then the security revamp will be squeezed in and that leaves Tradebots and Privatebet. Once I get the raw data parsed properly, I was just going to create a transaction list, along with summary stats for each asset that was traded and a global summary too.’

InstantDEX is getting inputs from the central exchanges, NXT AE and its own orderbook, so from a single display you can see prices from all the places at once.

API level testing of InstantDEX

InstantDEX is progressing nicely – and, more to the point, is working effectively. ‘Trade completes faster than I can switch tabs! The only difference performance-wise from a central exchange is if you don’t have any inventory of something, then you can’t retrade it until you have enough confirms. I will let each node decide what “enough confirms” means. But if you are trading with plenty of inventory and have enough aged assets, then you won’t even notice this.

‘Another nuance is that even though the trade is locked and done (like after hitting Send Money), until there is at least one confirmation, there is always some very small chance that it won’t get confirmed. I am talking about a big blockchain event or some sort of attack scenario. However, even in such unlikely events, all the components of a trade are atomic swaps of NXT <-> asset, so at worst you have a dangling half of the trade, but you didn’t lose any funds. As with any trading, if the market moves against you, well, not much can be done about this

‘So, not quite 100%, but 99.99%+ with the downside being partial fills. Since the performance is fast, the security of not having to worry about any central exchange is well worth this and I hope that people will be able to understand the slight difference. For the cost of one out of many thousands of trades not completely filling, needing to wait a block to be sure it confirmed, and some users requiring N confirms, we get to trade without worrying about the exchange dying. This being said, if you are trading assetized crypto, I still recommend to withdraw after you are done trading, if only so you can be staking. And nothing is as safe as your local wallet.’

Testing help required

James writes, ‘I made an instantdexbeta private group, only for people who will actually test, no spies. The best testers are usually becoming very good coders. This is because a lot of coding is about finding and fixing your own bugs.’

DM James in Slack for access – but only if you have the time to really test it.

InstantDEX Lotto

James writes, ‘My idea is to fund a monthly lotto with this 5% [the unallocated InstantDEX revenues], winner take all (shared between all that tie).

 If total InstantDEX revenues are 20 million NXT, this is a 1 million NXT monthly jackpot, and each 2.5NXT fee you pay to InstantDEX gets you a lotto ticket.’

For those who still don’t understand how the pieces fit together (which is understandable, when there are so many pieces), InstantDEX can be considered ‘the grand central station of SuperNET. It connects everything to everything else and the more popular it becomes, the larger the monthly lotto. The high end of projections have it up to $100,000 per monthly lotto. At NXT blockchain saturation levels, NXT itself will be at least 2x if not 4x. It all combines to help everything else – and not to forget about BTCD, which is getting an InstantDEX revshare.’

Half-anon Cryptocards available

The half-anon VISA cards are now available to order – but not yet officially launched. Coinomat writes: ‘We are waiting for a dozen successful orders and activations to announce it officially.’

Getting your own card is simple, just register on coinomat.com, click the ‘First Swiss Card’ menu link and follow instructions.

Cryptocard is a semi-anonymous way to cash out cryptocurrency to an ATM card. Photo id but no bank details are required, meaning that a resale market can provide a convenient and private way to move funds from crypto to fiat. Cryptocard was originally funded by the BTCD community, and Coinomat will integrate BTCD within 2 weeks, and then start integrating the other SuperNET coins.

VPN BOUNTY

James has organised a 10 million VPN bounty for a new dev to join the team.

‘I would like to offer a bounty to make VPN for non-Windows environment to link up to the VPNcoin Windows VPN. There are several methods possible. One is to have a separate VPN and bridge to the Windows. The other is just to connect directly to the Windows VPN from unix.’

There is a 10 million VPN bounty for a working solution.

BTCD and Nxt

A reminder about BitcoinDark and Nxt’s status as lynchpins of SuperNET, and the financial benefits holders will enjoy:

BTCD

  • 5% revenue share from InstantDEX
  • 5% revenue share from SuperNET
  • 5% staking interest

This week’s BitcoinDark Bulletin: ‘Privacy and Anonymity’.

Nxt

NXT_accepted-5_blue

5% revenue share from SuperNET goes to NXT core development. And InstantDEX fees are paid in NXT, because SuperNET has NxtInside. James writes: ‘At 50 trades per minute it saturates current NXT blockchain (makes NXT earn 10% per year), but NXT devs say they can boost this capacity pretty easily. With average fees of 6 NXT per trade that is 300K NXT per day or 15 million per month. So even at current ATH prices InstantDEX is trading at PS ratio of 5 and PE of 10.’

Nxt is clearly one of the few platforms that’s going to survive long term, making it not only a safe place in which to trade and park your funds but also a hugely prosperous one as well, once (as anticipated) it’s earning 10% per year.

If you are interested in using Nxt, visit the official website: http://nxt.org.
Get the latest Nxt news from http://test.nxter.org or join the movement @ https://nxtforum.org.

payexpo2015

Nxt is going to present the key speech for crypto at this year’s PayExpo 2015. Damelon writes: ‘I want to invite ALL Nxt related businesses to provide us with their promo materials and relevant information! We are not there just as the platform, you also can get your products and services out there! This Payexpo will have a separate part especially dedicated to cryptocurrencies!

http://www.goshowoff.com/ClarionConf/PayExpoFull2015/page.cfm/Link=28/t=m/goSection=4_28

‘We are co-organising this, so if you feel you want to help out with this and have workshop experience or knowledge: let us know! Also, help us raise the last 500,000 Nxt to go here. We already have gathered a significant amount thanks to all of you. Let’s get this last part together. Donation address: NXT-ZGDQ-W9Q3-YFK6-4L8F4.

Read more on the Nxt Forum here or join SuperNET Slack channel #payexpo to learn more.

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers.

Here they are in a flash: http://test.nxter.org/supernet-core-coins/

BITCOINDARKBITSTARBOOLBERRYCHANCECOIN
FIBRECOINNXT CRYPTOOPALCOINVERICOINVPNCOIN

All SuperNET CORE coins and services are more than welcome to claim a paragraph in the SuperNET Newsletters > DM apenzl to join SuperSlack #unity-news and make sure to get featured.

Any 1.0 crypto coin can enhance their wallet with SuperNET. Write to: info@supernet.org.

 

SuperNET Newsletter #14

Welcome to the SuperNET.

These are very exciting times, with the realtime Multigateway going into beta – meaning that anyone can now download it and start using it. Beyond that, we’ve got plenty of analysis on how the launch of these services could affect the broader crypto ecosystem, and some other news and information you’ll want to hear about.

Topics

  • SuperNET v1 BETA released
  • MGW ramchains
  • The BTER hack
    • if you have UNITY on BTER
  • InstantDEX
    • Preparing for iDEX
    • Fixed fees
    • Hybrid orderbooks
    • Nxt forgers
    • InstantDEX GUI release
  • SkyNET
  • SuperNET NRS plugin
  • VRC
  • OPAL
  • Coinimal
  • SuperNET Radio Network
  • SNN
  • CHA?
  • The Endgame
  • Win a SuperNET Silver coin

SuperNET v1 BETA released for testers

The hotly-anticipated public beta version of the first official SuperNET client is available for testing. The MGW has been totally re-engineered. The new realtime MGW uses ramchains: James’ distilled blockchain tech that is many times faster to initialise than a regular blockchain.

The v1 client appears as a multiwallet for the SuperNET CORE coins. You can fund it and send coins from it. The first coin deposit you make to your wallet (whether it’s in BTCD, NXT, OPAL, VRC, BITS or VPNcoin) will automatically fund it with 10 NXT, which can be used for paying transaction fees. It is hoped that BTC will be enabled on the realtime MGW within two weeks – BTC’s blockchain is so large (approaching 30GB) that it is taking longer to process than the other coins.

t3cltd writes, ‘Seeing as we have actually released a beta version and we’ve already begun releasing updates, the “download for testers” is simply a wider net of the public who can try it out at will on the understanding it is a beta product at this time.’

Get the new client here: http://www.supernet.org/en/home-of-the-supernet/supernet-downloads

supernet-beta-client

If you try it, please leave your feedback in SuperNET Slack channel #v1testers. You can interact with SuperNET Slack without asking for an invite or signing up: http://chat.supernet.org

Eth says: “As every new feature, the innovative superNET GUI (basic mode) is going through a number of changes, and what happens in back end is most probably going to affect front end, so this upcoming week there will be a quick re-structuring on the interface inner file set in order to ease up the implementation of new features (that we cannot talk about yet!) in the future.

We will be including also the first video tutorial, which will serve not only to explain the basic functions of the multiwallet, but also a presentation for the different sections that populate superNET, making it a truly unique experience in crypto.”

Further functionality will be added on a rolling basis, ensuring a stable client with an ever-increasing feature set. Some main features are already visible in the GUI, including the funding of your wallet directly from USD or EUR, sending coins by email, and the links to projects and services in the top bar which will definitely be worth watching over the coming months. And right now ramchains for DRK, BTC and DOGE is being created to add to the SuperNET v1.

MGW ramchains

Realtime status for the Multigateway servers are also displayed in the client. The old MGW servers were prone to going down; the new servers will be actively maintained, as James writes:

‘The realtime MGW uses ramchains, so restarting that takes just a few minutes and we are making all sorts of alarms and monitors, etc. You have to also realize the old MGW is run on volunteer basis and there are no profits from it, just expenses. It is clear that this is too extreme on the frugality side and that people would rather pay a small fee that would fund 24hr monitoring and faster response time.’

Charging a small fee will enable SuperNET to pay people to maintain the servers, so they can be restarted – in the superfast time enabled by ramchains – as soon as a problem is detected. Additionally: ‘I am still fiddling with selfhealing ramchains. Did a proof of concept where a brand new ramchain was loaded to a new node in about a minute for BTCD. Not quite done with that, but the bulk of it is done in ~100 lines of new code with a few surgical changes scattered.’ This will make for a more robust system that is less prone to going down – and faster to restart if it does.

As ever, a big thank you goes to James for all his hard work and some tech that really belongs in a sci-fi film.

The BTER hack

BTER lost 7,170 BTC in the hack two weeks ago, which looks like a co-ordinated hit on several altcoin exchanges. As yet there is no indication that these funds will be recovered, and the future for the exchange is unclear.

SuperNET had around 400 BTC on BTER. James writes, ‘Not sure of exact amounts, but most all the ICO funds had already been withdrawn over the months. It was <5% of total funds raised. The funds left were mostly from converting the CNY raised during ICO.’

However, it is hoped that the loss of a number of altcoin exchanges and renewed doubt about the security of centralised exchanges will bring more users to InstantDEX: ‘SuperNET is not much affected by this incident and InstantDEX will become quite popular. The 400 BTC loss stings, but with central exchanges’ continued problems the InstantDEX will gain and SuperNET will more than make up for this.’

If you have UNITY on BTER …

UNITY is just the trading symbol for the SuperNET asset and as we advised in December after the pump’n’dump ring accusations against BTER, it is best to have it in a NXT address that you control (including the new beta client). All dividends will automatically be sent to whatever address the SuperNET asset is in.

If you are new to Nxt, you can use either the standard Nxt wallet or the SuperNET wallet – the passphrase is the same. It’s also easy to start with the blockchain-less NxtLite client. The latest NXT NRS client release can be found here: http://test.nxter.org/latest-nrs-release/ and for the SuperNET v.0 (enhanced NRS) look in this thread: https://nxtforum.org/lite-multigateway-releases/

BTER have now enabled withdrawals of UNITY and some other Nxt assets. We advise you to withdraw them to an address you control! This will also make it easier to receive upcoming dividends.

InstantDEX

In one of the most exciting developments for both SuperNET and wider crypto, InstantDEX – the distributed real-time crypto exchange – is almost ready for launch.

Preparing for iDEX

To prepare the ground for active trading, James is making a market in BTC/NXT on Nxt Asset Exchange.

###
[Notification]

Due to the recent incidents, the lack of liquidity is impacting the entire NXT community. Additionally with InstantDEX arriving soon it will benefit from a more liquid market in NXT. So I will manually start making a market in BTC/NXT on the AE but this will be updated with automated market maker.

2 million NXT and 100 BTC will be adequate to start. Even though there will be 2MM NXT and 100 BTC, it will be set up as ladders, so it is highly unlikely more than half will get traded and most likely a lot less.
###

James has put up orders for mgwBTC, starting at the bargain price of 4444 sats (with a price ladder in 10 BTC lots), and BTC sell orders <1% above the bid. The new mgwBTC asset ID is #17554243582654188572.

NXT now has liquidity and low spreads. James writes, ‘There is around 2 million NXT and 50 BTC or so, I plan to deploy some automated bots next week, but for now it will be manual so I can’t promise any specific level of spreads.’

Fixed fees: 2.5 NXT

InstantDEX will charge low fees to encourage higher volumes, aiming to become the dominant altcoin exchange in the wake of the series of recent hacks. A flat fee of 2.5 NXT will be charged per trade, on top of existing transaction fees. James writes, ‘There will be 2 tx per trade per side, so that is 2 NXT right there, so in that case I think 2.5 NXT fee which is 4.5 NXT. That means at 4500 NXT trade size it is 0.1% and any trade for more it is less. For 1 BTC size trade, it is < 0.025% so this is a really really good price.’

This fee will, of course, be higher as a percentage for lower amounts. ‘Since we want trade volumes in more value and not just a lot of small trades, even if the fixed fee is discouraging the 50 NXT trade, we should still end up with 80% of trading volumes.’

These low fees are extremely competitive compared to regular exchanges, pointing to a potentially significant revenue stream. ‘With 5 NXT per trade, the direct revenues for InstantDEX become quite ridiculous, so it can’t possibly be true. Well it is contingent on a rather crazy high 100 trades per block, but at that levels InstantDEX will have revenues on par with best any of the mining assets ever did, but instead of just being a return of capital it is from organic new revenues, from a rapidly growing business.’

Hybrid orderbooks

Many people have heard of arbitrage and arbitrage bots. This idea will be leveraged to create new markets for InstantDEX.

‘For example, let us say there are BTCD/NXT and NXT/BTC markets. Well these really do exist so it is easy to think about this exact thing! So the price of BTCD/NXT is going up and down and so does NXT/BTC price, now there is a third combination BTCD/BTC market and it also is going up and down!

‘But these three are all related, eg. BTCD/NXT + NXT/BTC == BTCD/BTC.

For example BTCD/NXT 100 NXT and NXT/BTC 0.00005 -> 1 BTCD -> 100 NXT * 0.00005 = 0.005 BTC. So if the prices are 100 NXT for BTCD and 0.00005 BTC for NXT, then this is equivalent to 0.005 BTC for BTCD. What if any of the three is going above (or below) these prices? ARBITRAGE!!

‘So I am making the BTCD/BTC orderbook automatically have the (BTCD/NXT + NXT/BTC) orderbook and with one action you will be able to get the best price. With arbitrage, especially cross exchange, there are times where you can buy something at the exact time as you sell the opposite and can lock in a gain. This will require a pair of trades, one going through 2 orderbooks, the balancing trade through 1.

‘For hybrid orderbooks (eg. BTC/NXT + NXT/XYZ -> BTC/XYZ) it would incur an extra 3.5 NXT, 1 from NXT and another 2.5 NXT. Still this is 8 NXT and the hybrid orderbook was used presumably since it had the better price than any direct orderbook.

‘Also keep in mind I aim to have automated market makers with ~1% spread for the major issues. If you factor the savings from the narrower spread, even smaller orders could find it to make sense and the larger orders are finding no reason to trade anywhere else.

‘I think an 8 NXT fee for InstantDEX is well earned and the user is making some incremental profits.’

Nxt forgers

What any volume of activity on InstantDEX points towards is greater rewards for NXT forgers. ‘Assuming we fill up the blocks, this is ~250K NXT in fees per day (gladly paid by traders). Now at this pace, NXT forging is paying ~10% per year! I think with that sort of return, the value of NXT will become quite a bit larger.

‘For those trying to estimate the amount of fees InstantDEX will earn I would imagine it would be a multiple of the 4 NXT worth of fees per trade. While most trades will be < 1000 NXT, there will be some larger trades for 1 to 10 BTC, so i would expect the average fees per trades to be closer to 10 NXT. A single 10 BTC trade is really boosting the average. Of course there is no guarantee of reaching this sort of trading volumes and sustaining it, but if it did, that would be fees that are more than 200MM NXT per year. So even achieving 10% of this level is making for a very good result.

‘What other investment would give interest rate like that and have all the potential NXT has?

So no promise that we get to 100MM market cap, but if crypto is based on cashflow a rough metric would be an extra million dollars NXT market cap for each tx per block InstantDEX does.

‘I am in close contact with NXT devs, they said blast away give us MOAR tx! It seems the current cap of 256 [tx’s per block] is easy to expand and there are several ways to reduce the blockchain bloat, even I came up with some simple methods to allow for 10x or even 100x more tx without much blockchain bloat. So no worries about using InstantDEX too much.’

InstantDEX GUI release

‘I am on schedule for getting the InstantDEX API fully functional, still need to add error checking and a few other things, but the GUI release is the bottleneck. I was told that next week we will get a GUI release based on: https://yunbi.com/markets/nxtbtc that will be interfaced to InstantDEX API, so if they come through then next week. Since I don’t personally control the GUI and I can’t do GUI work myself, I cannot make any specific estimates, but the team that is on it has been highly recommended so I am optimistic.

‘It will allow people to simply start trading! no accounts to register, no KYC, not even email needed.’

SkyNET

SkyNET will feed the bots that will generate revenue from trading. So, how is this intriguing project progressing?

nexern writes: ‘Complete fundamental data (fillings) history fetched, stored and up-to-date now. Raw data is 4.5 TB uncompressed, resulting in ~15.7m docs in total (not precise, just estimated from random chosen archives, so numbers may change). This data resource delivers not only raw numbers but also something like “behavioural analytics”, means it could answer questions like: how inner/outer shares flows to whom and where else, how does this affect price, what are the whales doing, what about current short sales, who is involved and connected to whom, well, hidden relations. It would be interesting to dig in this data to identify some “fat-fingers” and if so, to monitor their activity.

‘Luckily I was also able to get my hands on a huge forex tick! archive (15 years, major pairs). This data is perfectly suited for extensive intraday backtesting for traders specialized in currencies.

‘To complete this wide range of data resources I decided to add also macroeconomics data over the next weeks. Just remember, Finhive is constructed to deliver data and tools to as many traders/investors as possible and there are many of them using this kind of data to trade/invest on much longer timeframes than others.’

You can read more in the Finhive Development Monitor: http://finhive.com/fh_devmon.html

SuperNET NRS plugin

As Nxt will add plug-ins support from the upcoming NRS 1.5 release (currently on testnet), a SuperNET plugin is also on the way. The Nxt Reference Software 1.5 will also feature a decentralized Voting System and 2-Phased Transactions, which allows for the creation of services like trustless escrows, multisig wallets, and shareholders’ voting about whether to release funds.

SuperNET and all of its CORE coins will automatically gain access to this functionality. Other plugins have already been developed. For example, Tosch is developing an easy way to access and use Nxt’s Decentralized Crowdfunding feature as well as Nxt’s digital Marketplace.

VRC

VeriCoin 1.5.1 is now available for download for Mac, Windows and Linux at www.VeriCoin.info

VeriCoin BlockChain Reload Demo
http://youtu.be/IsgcBoRad_0

What’s new in the VeriCoin 1.5 .1 Wallet?

vericoin1.5.1

VeriCoin has also teamed up with ISG3D, a Canadian based 3D printing company, and can now offer custom VeriCoin smartphone cases. More details can be found here – http://www.isg3d.com/products/vericoin-iphone-case

OPAL

uncle_op2sam_720

Coinimal

Coinimal has introduced a Tell-A-Friend system: You receive a €2.50 bonus* for every referred, verified customer after the initial order. Additionally you will receive a lifetime 5% bonus* on the collected service fee, for every order your referred customers fulfil.

And of course, your friends will benefit as well. After their verification we will grant them a €5 voucher for their initial order. https://www.coinimal.com/tell-a-friend

*Bonus can only be withdrawn as Cryptocoin order. Minimum order is 25€. Can be combined with normal order. Valid: 180 days from issuing date.

Coinimal is looking for a freelancer to code the Coinimal plug-in for Nxt’s upcoming plug-in system. PM twinwinnerd.

SuperNET Radio Network

SNRN is taking advertisement orders. SuperNET-related coins and services are not supposed to start paying for exposure on SuperNET Radio, because ‘we do this as a service to the SN community to keep them informed’, as Lootz writes.

‘Plugging’ or ‘promoting’ a coin, service, asset, or product is self-evident when it’s the subject of a discussion’, continues Kevondo, ‘but active advertising via “on air” spots, sponsorships, Blocks Ads or producing a show and running it on air multiple times are all currently within SNRN’s capabilities, so contact myself or Lootz for prices’.

‘Those taking advantage of Pre-Supernet Launch Deals will be grandfathered in @ the price we agree to NOW. As SNRN increases its reach when Supernet begins active promotion, the pricing included in our Business Plan will come into play. Lootz is giving away the house right now. LOL!’

SNN

SuperNET News Network has launched. fumanchu writes: ‘Aloha, Hello, Salutations, and all that Jazz. It is my very special privilege to let everyone know we just had the soft launch of the first portal in the SuperNET News Network ( SNNews.io  / Supernetnews.org ).

‘Content will be dripping in slowly during those first few awkward weeks but in time we hope to have a steady flow of community-driven content focusing on developments in the Business, Blockchain, and FinTech Space.

‘Get in touch if you want to talk about advertising specials for the first few groups that sign up for 6 and 12 month packages. Pricing is lower now than it will ever be again in the future. Contact me BEFORE you sign up though and I’ll give you a special deal since you are all part of the SuperNET family here.’

CHA?

There’s a problem that someone out there might be able to solve. James writes: ‘Somebody needs to pull a magician out of a hat’: Chancecoin’s lead developer, magician, seems to have disappeared. ‘If we get a java dev, it can be taken over. chanc3r said the tech was good. I can offer 1% of chancecoin to the new dev that is taking over.’

The Endgame

SuperNET is all coming together. James writes, ‘We are approaching the end game. All the pieces are in place. Just have to snap them into place and activate them. I think there is some feedbacks coming from security side, but that is for privacy issues.’

‘After InstantDEX, I will make the Tradebots, which allows for some improvements to MGW, and of course Teleport and finally Telepathy to complete the core things for me. Probably a few things needed for Privatebet. I said it would be about 6 months for me to complete my tech, I think it is around  5 months now and ramchains kind of got added, so I can pretend I am still on schedule. I am making the core, but the true nature of SuperNET is all the things that others will build on top of it.’

Win a SuperNET silver coin

So where are we going? How do you see Nxt / SuperNET playing out in the future?

winning

Post a meme, an essay, a piece of code,  a cartoon, a song or a video, a master thesis or indeed anything else that helps you answer the question. The winner will receive one of pondsea’s stunning limited-edition .999 silver SuperNET coins.

Deadline: Friday 6th March 2015, Midnight GMT. Post your entry to the contest here: http://test.nxter.org/win-a-supernet-silver-coin/ or message your entry to NXT-EAVH-SLEV-KSEE-EE2KP. Nxt Community will pick the winner.

SuperNET related links

http://supernet.org

SuperNET news

Newsletter signup:
http://supernetwrk.weebly.com/newsletter.html 

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

Community

SuperNET Slack
chat.supernet.org for chat and signup,
https://forum.thesupernet.org/index.php?board=46.0 have a log of the public channels.

SuperNET Forum
https://forum.thesupernet.org

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com

VPN
https://bitcointalk.org/index.php?topic=757614.0

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalk.org/index.php?topic=748045

SkyNET (FinHive)
https://nxtforum.org/finhive/
https://nxtforum.org/nxtventures/reserved-6826/

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

Pangea
https://nxtforum.org/nxtventures/pangea-poker/

Jay
https://nxtforum.org/nxtventures/jay-decentralized-plugin-network-asset-8688289798928624137/

Omnigames
https://nxtforum.org/nxtventures/omnigames-asset/

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Coinimal
http://coinimal.com

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #5

Welcome to another edition of the SuperNET newsletter!

TOPICS

  • Website
  • Beyond Bitcoin
  • SuperNET Cards
  • Chancecoin
  • VRC
  • Marketing
  • SuperNET Radio Network
  • UNITY price
  • BlockNET
  • Development update
  • Kademlia DHT’s role
  • SuperNET related links

Website

Lootz is currently building supernet.org.

Email addresses info@supernet.org and coins@supernet.org are working now. We are moving from thesupernet.org to supernet.org step by step…

Beyond Bitcoin

BTCD and SuperNET will feature on the Beyond Bitcoin podcast this Tuesday/Wednesday!

[UPDATE]:

https://soundcloud.com/legendface66/beyond-bitcoin-19-supernet

SuperNET cards

The SuperNET cards (Nxt asset ID: 7110939398145553585) have been ordered!

SuperNET cards will be a way to bridge crypto into fiat. These cards are normal MasterCards and will have a $1,000 per day limit. At the moment these are ‘half anon’ cards: A photo ID card is required for but no banking information.

James comments,

half anon means that there is no requirement to link a bank acct/personal financial number to the card. however to get the bigger limits, the requirement for ID scan and utility bill could not be removed.

I expect a secondary market to form for these halfanon cards once issued. They have no risk to the one that signed up for it as it can be kept empty.

We continue to work toward full anon, but need to find a reliable vendor with acceptable limits and while we have candidates, the process is very slow. also, I think there is a good chance that there will be some independent vendors who can help, but this is all still being developed.

We will keep you informed and let you know when these ‘half anon’ cards are ready to ship.

Chancecoin

James’ funding request has been APPROVED.

We hereby welcome CHA as the newest SuperNET CORE coin.

Its features are described in greater detail in the last SuperNET Newsletter and on https://bitcointalk.org/index.php?topic=528023.0. CHA official website: http://chancecoin.com

### whale has negotiated 25000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.

chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI
###

VRC

VRC will be implementing the GUI and billing for the decentralised cloud storage enabled by the Telepathy network. The VRC devs will also be providing the ‘public face’ of SuperNET (since James has known to be a little cautious about that sort of thing). VRC’s Patrick, Doug and David are well known as some of the first crypto devs to reveal their identities publicly. In the future there will likely be many interviews, live events and other media where SuperNET will need a real-life representative.

James has also committed to developing new technological features with VRC in a previous deal, arranged before SuperNET was announced. These will offer new functionality to SuperNET when they are implemented, so inclusion at this point makes sense in any case. Read more here.

Marketing

BTCD is engaging a professional marketing company to help communicate the coin’s unique features and use-cases. SuperNET will inevitably benefit from this since it is one of the major ways in which users will be able to access different services with BTCD.

BTCD will have widespread appeal as a complete platform for secure, anonymous communication and transactions. Just some of the groups that we anticipate will be interested, plus potential applications, include:

  • Bloggers and journalists in ‘closed’ countries
  • Political activists in hostile regimes
  • Whistleblowers
  • Truly anonymous reviews and tip-offs
  • Anonymous donations to Wikileaks and mainstream charities
  • Secure business-to-business communications to prevent industrial espionage
  • Online gambling
  • Libertarians
  • Anyone concerned about intrusive state and corporate surveillance

SuperNET Radio Network (SNRN)

http://supernetradio.com has launched.

This is an initiative by kevondo and lootz. Kevondo writes:

### SNRN will provide each SuperNET coin and entity (Affiliates) with a Website, uniquely “Branded” to them individually. All sites will have radio broadcasting enabled, access to “On Demand” archived SNRN programming, an “Anon Unity Chat” IRC window, and Crowd Funding capability. By reducing the budgetary pressures of building and maintaining an array of promotional tools members can concentrate on creating content and actively promoting. SNRN basically provides all the tools needed to “Get the Word Out” by jump starting the promotion process.  Any other services such as Forums can be implemented upon request.

Affilate productions will be scheduled into the 24/7 stream of  “Flagship” Station supernetradio.com producing, for SuperNet/UNITY, the consistency of around the clock exposue while alleviating affilates from having to produce the volume of content to be effective in promotional ventures.

Particulars, Fee Schedules, Revenue Streams and Dividend Sharing details will be provided on http://supernetradio.net. Direct inquires can be sent to supernetradionetwork@gmail.com.
###

For the time being, Kevondo will be doing a live broadcast at 10 AM EST Monday to Friday, and past shows, interviews, and music will be streaming 24/7.

UNITY price

The recent bear market in Bitcoin has badly affected the alts, and there have been heavy sell-offs – including NXT and BTCD, as well as many NXT assets. This has opened the door to criticism about the tech, even though the same trend has affected almost all coins. James writes:

As the software gets more and more complete and it becomes clear to even the skeptics that it is just a matter of time before SuperNET is completed and working, the price will more fully reflect the value. Since I am doing something that hasn’t been done before, it is hard to accurately estimate time to completion, especially as I continue to improve things daily.

Remember that anybody can make any sort of crazy claim against me. I don’t have time to spend refuting all the silly FUD. For a while I was supposed to be some sort of pump and dumper, but it is hard to make any claim like that stick when I am not pumping nor am I dumping. I just keep coding and know that it is just a matter of time before the market catches up to what I am building. And now other coders are building on top of what I am building. GUI are being created. Websites and even new assets are being created and managed, etc.

For all the claims that I am dumping SuperNET, I can state affirmatively that I am only buying and have not sold any SuperNET/TOKEN. This reminds me of when I was buying BTCD at .00015 to .001, seems almost like I have an unfair advantage as I know the dev will deliver, while everybody else has some doubts… Considering the bear market everything has been in, including BTC, UNITY price is holding up pretty well.

BlockNET

Many of you will have noticed certain similarities between SuperNET and a new organisation called BlockNET. Whilst the latter is a constantly-evolving undertaking, it seems that there are several key differences. We would encourage you to visit the thread, ask questions and find out more for yourself about the relative approaches, if you are considering investing in one or both ventures. There has been much misunderstanding about both BlockNET and SuperNET and greater clarity will benefit everyone.

A key difference is the business approach. BlockNET is collecting money through their ITO to pay developers for their new software, whereas the SuperNET ICO funds are being held to provide stable value, reflected in the NAV (the value of SuperNET should not fall below the value of the currencies held). James is doing all the coding in return for an equity stake in SuperNET, and is also adding a large number of revenue-generating assets of his own (these total far more than the value of his own shares).

SuperNET ICO funds will also be used to purchase shares in coins and revenue-generating services. SuperNET is also entering into revenue-share agreements, without taking an equity stake in these. BlockNET will make money from the services it offers but the ITO money will not be used to purchase a stake in promising companies. SuperNET will also be returning income to coin communities, to stakers and for further tech development.

The philosophy of SuperNET is to align interests between SuperNET holders, coin communities and devs, and the companies that provide services. The money flow provides shared incentives for success, strengthening all of them and working for their mutual benefit. This business model was a conscious decision taken by James and offers a strong platform for future expansion.

Development update

James:

around 1000 new builds in last month. very busy coding

Development of the peer-to-peer network that will underpin BTCD and SuperNET has moved fast, with some fantastic advances. James writes, ‘I just finished rewriting Teleport using Telepathy and DB and now it’s 800 lines instead of 3,000. Once this is debugged, then all the other apps will come pretty fast as its just application level code without worries about system level, anon leaks, etc… getting close to code complete.’

As a brief overview/reminder:

  • Telepathy is a system of secure peer-to-peer communication
  • It is based on the Kademlia DHT, the same protocol used by BitTorrent
  • Teleport will also use this for anon crypto transactions
  • Telepathy is so secure that no one, including the sender, needs to know the recipient’s IP address. This offers a fundamental advance in privacy.
  • Telepathy uses ‘dead drop’ addresses that belong to no one. Messages are routed to these, and are handled by dozens of different nodes – but delivered to none of them.

There has been some misinformation spread about Teleport recently. To clarify, Teleport offers a completely trustless and decentralised off-blockchain exchange mechanism that is truly anonymous and private.

A white paper for Telepathy is available in draft form and will be published for review in due course.

Kademlia DHT’s role

DHT is the technology that enables Telepathy.

A Distributed Hash Table (DHT) is a kind of super-efficient look-up table that allows any node in the network to find the information it needs to route a packet to another node quickly.

The Kademlia DHT offers a couple of very interesting properties. Aside from being very efficient, it guarantees a packet will reach its destination due to the way it routes them (the ‘XOR’ metric).

Additionally, like other DHTs, the ‘map’ that shows where each node lies in network space is completely abstracted from the physical location of those nodes and their IP addresses. This is a little like the London Underground tube map: The map of stations bears little resemblance to the above-ground geography. It is simply a convenience to allow passengers to work out which line to use quickly and easily. So each node in the P2P network simply forwards a packet to nodes closer to the destination than itself – until the distance is zero, which means the packet has arrived.

In the case of Telepathy, since nodes are trying to deliver a packet to a dead drop address owned by no one, this will never happen. This does not matter though, since so long as the intended recipient gets to handle the packet, they will be able to decrypt and read the contents.

Close to the dead drop address, many other nodes are also being sent the packet – creating great uncertainty about which node it was meant for. An attacker cannot find out the IP address of the intended recipient, let alone read the content of the packet.

Unlike some detractors have claimed, this network is completely decentralised and peer-to-peer – like BitTorrent. IP addresses for nodes are known to others, of course (otherwise any routing would be impossible), but there is no correlation between a destination address and a node’s IP address. Users have a public account and a private one for secure communication – these private accounts are completely unlinked to your IP address.

A new feature will be group ‘mining’ of dead drop addresses which are close to many nodes, to create maximum uncertainty in the eyes of the attacker about who the packet was meant for.

Since these addresses are best found by brute-force calculation, the process is actually very like Proof-of-Work mining. Once a good location has been found, it can be shared amongst many nodes that are close to each other. Rewards may be paid for this useful mining activity. Of course, no node using these shared addresses will be able to read the contents of a packet unless it has been encrypted specifically for them.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

SuperNET related projects

Coinomat
https://coinomat.com

BITS
https://bitcointalk.org/index.php?topic=748045

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #2

Welcome to the second SuperNET Newsletter!

A week is a long time in cryptocurrency, and never has this been more true than for SuperNET. This last week has seen a flurry of activity, with a series of new companies and services being added to the project. Additionally, there have already been unexpected dividends, with several more now expected in the coming month. As a result, SuperNET is slowly but steadily gaining in price and looking forwards to a very bright future.

Topics

  • SuperNET & UNITY
  • Asset Dividends paid
    • NeoDICE
    • NXTinspect
  • Pre announced dividends
    • SNN
    • BOOST
    • 2 more TBA
  • Other assets and services
    • ATOMIC
    • Freemarket
    • CORE services
    • SuperHODL account
  • MyNXT.info
  • SuperTraders
  • Supernet.org
  • SuperNET logo
  • SuperNET Volunteers
  • SuperNET CORE coins
  • Development update
  • SuperNET related links

SuperNET & UNITY

SuperNET / UNITY can be traded on BTer, NXT Asset Exchange and now on Poloniex.

BTer has automatically exchanged all TOKEN for UNITY (the ticker symbol for SuperNET). No further action is required by assetholders. Also withdrawal of UNITY has now been enabled.

On the NXT Asset Exchange (AE), a manual process was created. Most TOKEN has now been exchanged for SuperNET, but if you have not done so already, you should redeem your TOKEN. TOKEN does not pay dividends and was only created to simplify the issue process for SuperNET.

To redeem your TOKEN on Nxt AE, transfer it to NXT-7Y5B-J8LQ-SL5P-3ULFL.
It will be exchanged for SuperNET. This is a manual process and will not take place instantly but within 24 hours, so please be patient.

Asset dividends paid

In an unexpected but welcome development, SuperNET has started paying dividends in the form of assets in new companies with which it has formed partnerships and acquired a stake.

neoDICE

The first dividend was neoDICE – a re-creation of the legendary blockchain betting game SatoshiDice, a Bitcoin-based game which achieved immense popularity but fell from favour when it began requiring confirmed rather than unconfirmed transactions, thereby delaying gameplay.

Like SatoshiDice, neoDICE uses a provably fair blockchain-based system but includes a solution to avoid the delays caused by requiring confirmations. It is hoped that this game will capture a significant proportion of SatoshiDice’s former market – but for NXT.

NeoDICE (Nxt asset id 18184274154437352348) should be in testing mode within a month and will pay dividends in NXT from its profits. 100 percent of neoDICE assets were distributed as follows:

5 percent SuperNET dividend
5 percent NXTventure dividend
5 percent jl777hodl
40 percent Privatebet
45 percent Developers & maintainers

For every hundred superNET, assetholders received 6.127 neoDICE.
Further details can be found here.

After the dividend distribution James notes:

NeoDICE traded as high as 62 NXT each before settling down to 40 NXT bid/50 NXT ask, so the dividend was worth 2.5 NXT to 3 NXT, which on ~200 NXT [SuperNET] price makes it a 1% to 1.5% dividend.

NXTinspect

The second “surprise-dividend” was NXTinspect.

NXTinspect is a community-driven initiative designed to provide investors with the necessary information to make informed trading decisions. ‘Our service looks to promote legitimate assets, while highlighting suspicious activity/scams.’

NXTinspect’s IPO offer was for 300,000 asset tokens, which is 30 percent of all NXTinspect assets. James bought 250,000 of them (25 percent of the total), using NXTventure funding. However, since NXTinspect will be auditing James’ assets, there is a clear conflict of interests here. James writes:

I invest in good people, and they are all good people. When I see good trades, I just automatically click, click, done. So I didn’t even think about the potential for looking like conflict of interest.

However, it seems there could be an appearance of conflict since I am involved in dozens of different projects.

I want to use NXTinspect services and clearly it won’t have much value if there is this appearance that I am having some sort of undue influence over them.

The upshot was this:

  • 5 percent to jl777hodl
  • 5 percent for SuperNET dividend
  • 5 percent for NXTventure dividend
  • 10 percent sold on NXT AE at 2.5 NXT each

As soon as the AE assets were sold, the dividends were processed. Sales on the AE would offset any losses to James from the dividends issued, so the process was broadly break even for him. After this, James holds no NXTinspect, other than the indirect gain of jl777hodl NAV and whatever goodwill SuperNET and NXTventure assets gain from this dividend. For more information, see hereDividend payout details can be found here.

Dividend distribution

The dividends were successfully distributed. Those with assets on BTer and Poloniex have received their dividends in their exchange accounts, and AE dividends have been issued directly to holders’ Nxt addresses.

As previously announced, investors who hold unredeemed TOKEN did not receive the dividend.

The leftover neoDICE assets were given to valarmg, in return for the work he has done in creating and running the redemption and dividending scripts. These unclaimed neoDICE assets equalled around 1,500 or 3 percent of total dividend payout.

Pre-ANN asset dividends

A new series of assets and dividends are already in the pipeline and will hopefully be released by the end of October. These are:

SNN (SuperNET News Network), asset ID 15113552914305929842. SNN is planned to be ‘the SuperNET of crypto news: a ‘community owned and operated media outlet, with stories and content written by a wide range of contributors about crypto technologies and markets.’ 75 percent of SNN revenues will be distributed to assetholders. Revenue sources include advertising, subscriptions and pay-per-view, and ‘since this follows a more normal web inventory, it will allow the establishing of ad sales prior to having the SuperNET GUI monetized with ads.’

BOOST (asset ID 9719950459730291994) is a startup incubator that provides zero-interest loans for new NXT companies and will have close links with NXTventure, both in funding and adopting new companies. It will act as a conduit for small companies that want to become a qualified NXTventure listing.

Two further assets are on the way. One is described by James as ‘pretty normal, except it is building on top of an existing asset to help it reach a rather large market.’ The second, however, is ‘a new type of asset… This will create a new way to solve a common problem in the crypto world and I am happy to be involved in this asset.’

These are all exciting new developments and highlight the activity that is going on. These four dividends could be issued in October – though as ever, there are no guarantees of timescales and dividends will be announced as they happen. Investors are encouraged to do their own due diligence before purchasing further assets.

Combined dividends

NXTventure and SuperNET will be releasing combined dividends.

NXTventure has proved a highly popular asset. Its purpose is to fund promising new enterprises in return for a proportion of their assets. These are dividended out to NXTventure shareholders.

Whilst this will reduce the number of shares dividended out by NXTventure due to sharing with SuperNET, the publicity and funding of SuperNET will on the other hand bring a much greater number of companies into the space. There will not be a full overlap between the dividends offered by NXTventure and SuperNET. As James puts it:

There will probably be 4x more assets in the pipeline. (….) I expect that NXTventure will have some smaller assets that will be dividended that won’t have a SuperNET counterpart. There will also be some special assets that would only be SuperNET dividends.

Other SuperNET assets and services

ATOMIC

ATOMIC (asset ID 11694807213441909013) is a new service designed to enable 100% decentralized trading for all coins and assets on a single blockchain. It will be integrated into the core of SuperNET.

  • 100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)
  • Transactions from one blockchain to another will be as fast, if not significantly faster than any existing centralized method of exchange.
  • The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.

ATOMIC will take the form of a DAC (Decentralised Autonomous Corporation). It will be open source and run transparently, with direct community involvement. ‘Once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC’.

Read the documentation here.
You can find out more about ATOMIC in the announcement thread on bitcointalk.
ATOMIC is listed on coinmarketcap.com. ATOMIC official website: http://atomicdac.org.

James writes:

The fees on the ATOMIC network will serve to reward both the miners and asset holders. The standard transaction fees required by blockchain technology will be rewarded directly to the miners.

The asset holders will receive dividends in the form of the accumulation of non-Atom transaction fees. For example if user A with Bitcoin wants to send money to user B who only wants Litecoin, user A will pay a tiny fee in Bitcoin to a special address that will initiate the exchange. Due to the nature of the ATOMIC network, the exchange requires that the user also have enough Atoms in their wallet to cover the transaction fee to the miners.

This process gives the power to set the price of Atoms to the nodes on the network while also rewarding asset holders directly with fees collected by the exchange process.

Freemarket

Freemarket (asset ID 134138275353332190) is a decentralized physical goods store (similar to a decentralised eBay). 20% of FreeMarket listing fees (7.77 NXT) will go to SuperNET, counting from 2015. Freemarket will have no fees for the rest of 2014, other than the the 1 NXT listing fee and 1 NXT confirmation fee. Freemarket will be released on October 12.

Some advantages over options like eBay:

  • No need to register and give up any personal information
  • No third-party payment processor
  • Fees are low; No fee in 2014, thereafter a listing fee set at 7.77 NXT, about 10 NXT once you include fees for NXT AMs
  • The NXT blockchain makes FreeMarket resistant to takedown
  • No centralized servers anywhere; FreeMarket does not require centralized administration
  • Allows for unlimited, buyer-selectable shipping options, each with a separate fee
  • Messages between buyer and seller, as well as shipping address and shipping method, are encrypted
  • Items can be searched by category and up to 3 optional tags, as well as item title, seller ID, and item ID
  • Sellers have the option of accepting or rejecting a sale
  • Listings can be canceled

This is just the first version. Additional information can be found in the ANN thread.
Freemarket is listed on BTer and on coinmarketcap.com. Official website: Nxtfreemarket.com.

In addition to these new arrivals, the SuperNET core will contain:

Teleport. The privacy technology that underpins BitcoinDark (BTCD).

InstantDEX enables near real-time trading between cryptocurrencies.

Tradebots (NXTcoinsco) enables the creation of custom decentralized tradebots.

SuperNET card will support anonymous withdrawal of NXT and other SuperNET coins.
This is due for launch by Coinomat in the coming weeks.

NXTprivacy holds a series of privacy-related assets, including 50 percent of PrivateBet.

PrivateBet will be designed to support P2P betting and casino games. PrivateBet owns 40 percent of neoDICE.

neoDICE is similar to that of the legendary satoshiDice, with a few differences, the most important one been the near realtime processing of the wagers. Beta testing starts mid October.

Sharkfund0 is a trading fund that aggressively targets high-performing assets.

Targeted advertising similar to Google’s AdWords will allow website administrators to serve adverts directly to the cryptocurrency community, with revenue being returned to SuperNET participants.

You can read additional information about the above services in the SuperNET ICO document.

SuperHODL

To keep track of the SuperNET assets holdings, a new account and asset has been created. SuperHODL: asset no. 13120737659249432970, account NXT-USU4-92UY-KEYT-4H649. This is simply an accounting convenience to segregate authorised but non-disbursed funds.

‘SuperHODL is a 100% owned subsidiary of SuperNET and is really just a way to keep things separated. Maybe down the road some of it would be put on the market, but no plans for that now.’

MyNXT.info

As was announced in last week’s newsletter, SuperNET is investing in an online wallet site. Now that funding has been agreed, further details can be given. James writes:

SuperNET invested in mynxt.info, a long time NXT company with online wallet, mobile app, block explorer, etc. Over the coming months mynxt will be working on integrating their services into the SuperNET GUI.

This is a very promising move for SuperNET, since a significant proportion of users prefers to use a web wallet than a downloadable client.

SuperTraders

With the end of the ICO, the SuperTraders are now active. SuperTraders are a team of cryptocurrency traders with a proven track-record of returns. Their aim is to increase SuperNET’s NAV through trading on different exchanges. (In other words, their activity is predominantly intended to increase the value of the SuperNET asset directly, rather than to generate dividends.)

The SuperTraders receive a maximum of 10 percent of SuperNET’s working capital, or around 570 BTC. Their capital will be awarded incrementally as they increase their own bankrolls through successful trading, thereby increasing confidence and limiting downside risk. Each time they increase their bankroll by 50 percent, SuperNET also increase their available funds by 50 percent. The aim is to allocate the largest bankroll to the SuperTrader with the largest and most consistent gains.

Supernet.org

We managed to get the domain supernet.org!

SuperNET logo

The logo is created by ‘ether’.

The color scheme has been voted on, and the final version is:

SuperNET_logo

Coming soon:

  1. Different background styles (faded symbol, galaxy sucking-all-FIAT shape, etc.)
  2. HD Wallpapers
  3. Twitter/Facebook official account themes
  4. Badges for forum members and other goodies (this one will be on request)

SuperNET Volunteers

Feel free to join the community on forum.thesupernet.org.

If you would like to help SuperNET, please fill out this short questionnaire:
https://docs.google.com/forms/d/1T1U96Rxb4Q92vSRzh-HshEOyTQWtbfhXITdOliooqIk/viewform

SuperNET CORE coins

Here’s a summary of the SuperNET’s official core coins: NXTBTCD and BBR.

Any addition of new core coins will be announced in this newsletter and on SuperNET forum.
Coin representatives can send applications to join SuperNET CORE to coins@thesupernet.org.

NXT is the ‘2.0’ cryptocurrency that powers much of SuperNET’s backend crypto functionality. The asset exchange, Multigateway (for distributed crypto trading), alias system, even the GUI behind the new wallet – all of these are built on the ‘NXT Inside’ approach. As the leader in these 2.0 features and services, NXT is the natural choice for SuperNET. It makes perfect sense to leverage this functionality whilst rewarding the NXT community for their continued support and further development of the key tech.

BitcoinDark (BTCD) brings Teleport to the SuperNET table. At its very simplest, Teleport is the anonymity protocol that underpins BTCD. However, it offers far more than privacy. Teleport is a complete ecosystem for making anonymous cryptocurrency transactions, right down to the level of hiding users’ IP addresses from attackers.

Teleport uses one-time addresses called telepods to transfer standard denominations of funds (100, 50, 10, 5, 1 etc) to a new recipient. The use of fixed amounts avoids correlating sender and recipient if the quantity is distinctive (a transfer of $500 would currently be 129.19896640 BTCD, which would be instantly recognisable). Several other tricks such as random delays will make it almost impossible to correlate transactions on the blockchain.

The network of privacyServers will not only shield users from prying eyes, but will form the communication infrastructure for SuperNET – enabling them to exchange information of all kinds securely and anonymously. You can read more about Teleport in this article on NXTER.org.

James has announced a 1000 BTCD bounty (https://forum.thesupernet.org/index.php?topic=76.msg337#msg337) to anynone who can attack and deanonymize Teleport.

Teleport is currently nearing beta-testing. It will permanently be available for free to BTCD, and will initially be free for other cryptocurrencies. From 2015 it will begin to charge small fees for non-SuperNET coin transactions. Bitcoin alone opens a potential market over a thousand times larger than BTCD’s own current market cap.

Boolberry (BBR) offers additional anonymising features to provide an extra layer of privacy. Boolberry is based on CryptoNote, an implementation of ring signatures. Ring signatures provide a good level of privacy but generally do so at the expense of blockchain bloat. This raises questions about the long-term sustainability and user-friendliness of CryptoNote coins. Additionally, there are circumstances under which anonymity may be lost, but Boolberry’s lead dev has come up with an innovative way of avoiding this problem, as well as reducing bloat. You can find out more on the bitcointalk BBR thread.

Development updates

The CORE technology for SuperNET is nearing beta and is currently being tested with about a dozen live servers. ‘While it is not working perfectly, the bugs found so far do not seem so serious. As soon as the low level networking is solid, it will be possible to complete the higher level applications like Teleport, Tradebots, etc. Also, the API can be opened up for other coins to use and to implement their own special features.’, James writes – and continues:

I finished debugging all the DHT calls. Ended up adding data compression to the loop, along with out of band binary data beyond the JSON in the onion packets. Also, a lot more difficult that I thought it would be, but finally got all packets to be the same size, thus removing a leak of info about the type of commands you are sending.

I implemented a variant of http://www.cs.rice.edu/Conferences/IPTPS02/109.pdf, using 64bit NXT addresses for the hash, eg. least significant 64bits of sha256. collision resolution is something for a layer above this level to do. I plan to add some simple file API on top of this so we can get a nice decentralized storage along with sending of files.

Of course all this is under heavy encryption, but still the IP addresses are not shielded yet. The sendmessage API appears to be working in simple topologies, should work with more layers, but need a larger network to test this.

./BitcoinDarkd SuperNET ‘{“requestType”:”sendmessage”,”dest”:”<nxtaddress>,”msg”:”<text of message>”,”L”:<maxonionlayers>}’

Using the sendmessage api, it should be pretty easy to make an encrypted chat application.

I have a dozen other API calls already done and they worked in loopback mode, so I hope before long we can get a nice set of API functions released and tested.

Multigateway

James:

I ported the MGW code into SuperNET API so to add a bitcoin compatible coin is as follows:

{“name”:”BTC”,”conf”:”/home/ubuntu3/.bitcoin/bitcoin.conf”,”asset”:”4551058913252105307″,”rpc”:”127.0.0.1:8332″,”clonesmear”:1,”minconfirms”:3,”estblocktime”:600}

Once such an entry is in the .conf file the SuperNET code can access a coin and do whatever logic the application layer (like Teleport) will use. More a matter of testing than developing.

For non-bitcoin compatible coins, some glue code will need to be created to implement the functions that the SuperNET applications will require. Still compared to the total work, it is a small fraction, so basically any coin can be supported with some interface work.

There comes a time when a project needs to stand on its own two feet and not rely on its founder anymore. For MGW, that time is now. it will work much better when all of MGW is NOT centralized through me. I am running all three MGW servers, which is not its design. It also means three times the work to keep them up to date, synchronized, etc. There have been production servers “almost ready” for over two months now and I have to hand off the MGW.

SuperNET related links

Supernet Forum

https://forum.thesupernet.org

Follow SuperNET news

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/pages/Jl777/688097541246130?ref=stream

SuperNET related projects:

Coinomat
https://coinomat.com

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

Atomic
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

First published by SuperTEAM.  SIGN UP FOR SUPERNET NEWSLETTER @ thesupernet.org.

SuperNET Newsletter #1

Welcome to the SuperNET!

Topics

  • ICO summary
  • Distribution
  • TOKEN > SuperNET/UNITY
  • Trading
  • Dividends
  • Dividend announcement
  • Funding request: SuperNET online wallet
  • Agreements between SuperNET and CoinEvolve terminated
  • Development update
  • Moving to SuperNET forum
  • SuperNET related links
  • Attention coin representatives

ICO summary

SuperNET was announced on August 30th.

jl777 made the announcement Aug. 30, just 7 days after announcing the ‘Nxt Inside’ initiative on the Nxt forum. The idea for Nxt Inside is to offer Nxt’s 2.0 features to other coins, allowing them to benefit from the GUI, Asset Exchange and other aspects of Nxt’s ecosystem, and extending the adoption of NXT in the process – a mutually beneficial arrangement. BTCD, the anon coin for which James is now core developer, would be the first to have these features (read more).

The SuperNET ICO began on Saturday 6 September, 14:00 GMT. The early hours of the ICO saw a flurry of activity. Those who knew James and his work well bought in almost immediately to take advantage of the 15 percent ‘early bird’ discount, plus the 5 percent discount for NXT/BTCD purchases. Some 2,000 BTC were raised in two hours.

For others, due diligence was hard. Many had not encountered jl777 or his work before, and were similarly new to NXT and the Asset Exchange. Although a large amount of material had been published in the SuperNET thread on bitcointalk.org and the SuperNET pdf provided a good overview, there were still a great deal of questions and uncertainty that needed answering.

Total funds raised

The ICO continued for a period of 16 days. James had stipulated that it would last for a minimum of two weeks and a maximum of four. If the daily volume dropped below 3 percent of the total after 14 days, the ICO would end two days later. In the event, the huge interest in the early stages meant that low volumes (by comparison) brought the ICO to an end at the earliest point possible.

The ICO resulted in a total number of 571,243.1402 TOKEN being sold, with an equivalent value of 5737.1589 BTC at the time the process ended. The breakdown of currencies used to purchase TOKEN – and therefore the balances ‘backing’ SuperNET assets – was as follows:

BTer: 303,370.1402 TOKEN.
1,201.4874086 BTC
13,836,576.42463729 NXT
37,559.38107027 BTCD
713,706.73861822 CNY

NXT AE: 267,873 TOKEN
33,252,122.74985353 NXT

This makes a total of:
1,201.4874086 BTC
47,088,699.1745 NXT
37,559.38107027 BTCD
713,706.73861822 CNY
Additionally, 5,403 VIA and 435,658.49 VRC were paid.

At the exchange rate at the end of the ICO, this meant the following BTC equivalent was raised:

1,201.4874086 BTC

BTCD: 0.01252290 BTC * 37,559.38107027 = 470.3524 BTC equivalent
NXT: 0.00007890 BTC * 47,088,699.1745 = 3,715.3 BTC equivalent
CNY: ¥713,706.73861822 / ¥2,486 per BTC = 287.09 BTC equivalent
VRC: 0.00014073 BTC * 435,658.49 = 61.31 BTC equivalent
VIA rate 0.00029967 BTC * 5,403 = 1.6191 BTC equivalent

Total BTC equivalent = 5,737.1589

It’s worth noting the support given to SuperNET by the Nxt Community, who gave 4.7 percent of the currency’s total market cap to the project. Similarly, BTCD – a far smaller coin by market cap – gave 3.1 percent by market cap. You can read more about the fundraising outcome here.

Additional assets

SuperNET is broadly analogous to a closed-ended mutual fund consisting of the cryptocurrency balances, plus a series of revenue-generating services. The coin balances invested by participants at the ICO will give it its ‘floor’ value. But in addition to this, James has added the NXT assets representing the SuperNET services for free. Thus the initial value-per-share will be significantly higher than that paid by participants – in theory, representing an immediate profit. (In practice, SuperNET/UNITY may trade at any value determined by the market and parties’ desire to buy and sell.)

The assets added by James to SuperNET include 24.15 percent (241,485 each) out of a total of 1,000,000) of the three key services:

InstantDEX (transfer tx: 15720904723604126361)
NXTcoinsco (TradeBots) (transfer tx: 13969817255360149927)
NXTprivacy (transfer tx: 616709295133043647)

These core assets own proportions of other asset-based services, which will therefore also be indirectly held by SuperNET.

InstantDEX owns 30 percent of NXTventure. Tradebots owns 18.5 percent of jl777hodl. NXTprivacy owns 30 percent of cryptocard and 60 percent of Privatebet. With 24.15 percent of each of the above three core assets, the following percentage of each asset will be directly or indirectly owned by SuperNET:

InstantDEX 24.15 percent
Tradebots (NXTcoinsco) 24.15 percent
NXTprivacy 24.15 percent
Privatebet 14.49 percent
cryptocard 7.245 percent
NXTventure 7.245 percent
jl777hodl 4.46 percent

Using the asset prices (NXT AE) and BTC/NXT exchange rates at the time the transfer into the SuperNET account was made, these core assets represent a total of 26,322,130 NXT * 0.000085 = 2,237.38105 BTC. (By the time the ICO ended, due to both fluctuating asset and cryptocurrency prices, the value had risen to 38,270,542.5 NXT or 3,019.5458 BTC equivalent.)

Bonus proposal

These assets, and the BTC they represent, are essentially gifted by James to SuperNET. However, because this effectively leaves James significantly out of pocket, he proposed the following solution. In addition to the assets held by shareholders, his initial 10 percent stake, and the 10 percent operating stake owned by SuperNET itself, a further 10 percent of UNITY assets would be created. These would be withheld by SuperNET to pay two bonuses of 5 percent each to James, if the following conditions were met:

  1. A tripling of market cap by the end of 2014.
  2. A tenfold increase in market cap by the end of 2015.

If these conditions were met and the shares were awarded, they would necessarily slightly dilute the assets owned by SuperNET investors. However, since the value of SuperNET overall would have increased by 3x and 10x multiples, it would be a small price to pay. Nevertheless, because participants had originally entered into the ICO under the expectation of no bonus being paid (and a 10% smaller proportion of the core assets being given to SuperNET), the proposal was put to a vote.

The text of the voting ballot posted on BTer and the SuperNET thread of the bitcointalk forum was as follows:

#### Proposed voting ballot

The BTC equivalent raised would be the total BTC equivalent at the time the fund raising is closed using the then current coinmarketcap prices for the NXT, CNY, BTCD. Let us call this the “BTC raised”

5% bonus achieved when the BTC marketcap from coinmarketcap (or other reliable source) sustains 3x BTC raised for 24hrs+ and another 5% bonus achieved at 10x

In the event the 3x bonus is not achieved before year end 2014, the 5% goes to SuperNET working capital. Similarly the other 5% would go to SuperNET working capital if 10x is not achieved by year end 2015

On the closing of TOKEN fund raising, 10% of SuperNET assets to go to working capital, 10% to jl777 for the 2000BTC of assets, 10% held in reserve for the 3x and 10x bonus. The minimum dilution is 10% if neither bonus is achieved and the maximum dilution is 20% if both bonuses are achieved.
####

The vote

The TOKEN holders’ vote was executed on BTer and in Nxt AE after the ICO concluded.
Each asset counted for one vote. Thus someone who owned 1,000 TOKEN had 1,000 votes.

The 3x bonus threshold is 5,737.1589 BTC * 3 = 17,211.4767 BTC.
The 10x bonus threshold is 5,737.1589 BTC * 10 = 57,371.589 BTC.

Result of vote:

Rejected: 15.2 percent
Approved: 84.8 percent

Total 325681/571243 = 57% turnout

Sources: BTER voting page
NXT-GR5T-8W3L-UFQP-8VFPV ALIAS ApproveBonus
NXT-FCHV-C8VL-YWFJ-EELVV Nxt ALIAS RejectBonus

Distribution

SN_assets

The remainder of the initial TOKEN assets were sent straight to the Nxt Genesis Account.
59’834’343 unsold TOKEN were burned (txid 1698643550463930707)

TOKEN > SuperNET/UNITY

BTer TOKEN have been swapped automatically for UNITY (SuperNET asset).

There is a separate (manual) redemption process for those who bought TOKEN on the NXT AE. This process has been created to avoid confusion about the continued existence and value of TOKEN on AE after UNITY has been released, and to prevent fraudulent or mistaken trading of a redundant asset.

Nxt AE: Transfer TOKEN to NXT-7Y5B-J8LQ-SL5P-3ULFL (alias: RedeemTOKEN).

SuperNET asset (12071612744977229797) will be transferred back within 24 hours.
The SuperNET asset (id: UNITY) will come from address NXT-QP45-4LQ8-853H-7XF3N.

After redemption, the TOKEN will be sent to Nxt Genesis account to prevent further trading.

TOKEN will always be exchangeable for SuperNET. However, TOKEN assets will receive no dividend from SuperNET and has no voting rights, so there is no advantage to holding TOKEN rather than exchanging it for SuperNET as soon as possible.

TRADING

Trading of UNITY is now live on BTer. Both SuperNET and TOKEN can be traded on AE. (Ultimately, of course, all TOKEN should be redeemed for SuperNET.) Withdrawals of UNITY assets from BTer to NXT AE are expected to be enabled early this week, if not already.

NAV buywall

As agreed before the end of the ICO, a buy wall at NAV has been put up on BTer and NXT AE. This is a courtesy to allow holders to sell at NAV (Net Asset Value) should they need to (i.e. without losing money on their investment, over any they may have lost on the fluctuation of the underlying currencies in the meantime). It should not be necessary in an efficient market at all.

The buywall is based on non-asset NAV (the value of the cryptocurrencies backing SuperNET, but not the assets added for free).

James explains:

It is one thing for me to personally put in 3000 BTC for 570 BTC worth of SuperNET, but then to base the buywall using the asset value is not reasonable. To allow people to cashout and weaken SuperNET to tap into this amount is not right. The buywall NAV is to provide liquidity in case the market isn’t.

ShortBTCD:

People should view this both as a courtesy backstop (it shouldn’t need to be there if the market is anywhere close to efficient, but it gives peace of mind, and a guaranteed opportunity to cash out if someone really needs liquidity) and as an additional opportunity for those who plan to hold long-term. Just as companies will buy back their own stock when they feel it is undervalued, you don’t want your “company” to always be trying to buy back shares at the fair market price. If there are temporary market disruptions, or occasional panic sells, UNITY buying back its own shares at a discount is accretive to you the UNITY holder. It increases your percentage ownership at a favorable price.

Dividends

Supernet accounting will be done by NXTinspect.

SuperNET will make revenues from the fees its core assets receives, as well as advertising revenue and shared fees with third parties. There will be transparent account to receive revenues. 50% of these will go to SuperNET assetholders using the NXT dividend mechanism.

The other half will be distributed as follows:

10 percent for overhead
20 percent for coin communities, according to their proportional contribution
5 percent for NXT core development
5 percent for BTCD stakers
10 percent unallocated, for discretionary spending to maximise the market cap of SuperNET

How UNITY dividend payments work

Each asset entitled holders to a proportion of the 50 percent of SuperNET revenues set aside for dividends. A holder with 1 percent of the asset would receive 1 percent of the dividend, or 0.5 percent total revenue for that period.

To begin with, dividends will be made automatically. James will make a dividend announcement detailing the specifics of what each SuperNET asset will receive and the ex-dividend time. When that time arrives, a snapshot of assetholders will be created, the dividend allocated accordingly and sent out automatically.

For small holders of SuperNET, the transaction fees to send out the dividend may cost more than the dividend itself. If this is the case then it makes sense to delay paying until such time as the dividend is worth more than the tx fee.

The intention for next year is to design a process whereby any assetholder can look up their unpaid dividends and click a button to have them sent when it is convenient. This ‘on-demand’ method means each assetholder can decide when it is worth paying the tx fee to receive the dividend.

[Dividend Announcement]

September 28, 2014, on bitcointalk.org:

50000 NeoDICE assets (id 18184274154437352348) will be dividended out to SuperNET asset holders at the rate of 0.06126992957634 NeoDICE per SuperNET asset.

If the UNITY is on BTer, you will get NeoDICE on BTer and if you withdraw UNITY to SuperNET on NXT AE, you will get the NeoDICE in NXT AE. If you have TOKEN on NXT AE, you will get no dividend.

James:

Please do not ask when the dividend will be sent out. It will happen when it happens, I hope it can be done this month, but no guarantees. Please do not expect regular SuperNET dividends like this. This is a special case with not guarantee of anymore like this in the future.

FUNDING REQUEST: SuperNET online wallet

A funding request has been made by jl777.
This is an open process so that SuperNET assetholders know how the funds are being spent.

The funding is authorized and made available to pay an established and well-regarded Nxt company to create an online wallet site for SuperNET users. (The identity of the company is not being made public for now, but interested parties can contact jl777 for details.)

Such a site will be of huge strategic importance for SuperNET, due to the popularity of such wallets over downloadable clients. The site will be the Blockchain.info equivalent for SuperNET.

Following negotiations by whale, three tranches of investment have been made available, in return for assets in the stated company:

1) 17.2 percent for 2.5 million NXT immediately
2) OPTIONAL 12.9 percent for 1.875 million NXT by 31 January 2015
3) OPTIONAL 12.9 percent for 1.875 million NXT by 31 March 2015

The asset itself will not be traded before 1 January 2015, unless all the options are exercised. The expectation is that this investment will have a good ROI due to the strategic significance of a SuperNET wallet site. It is hoped that SuperNET will thus be able to recoup the initial investment via AE sales within a year, and still have significant holdings remaining.

Agreements between SuperNET and CoinEvolve terminated

CoinEvolve was a new business created by ‘Christian Sommer’. It was supposed to offer a series of services such as freelancing marketplaces, a cryptocurrency business directory, and so on.

CoinEvolve entered a revenue sharing agreement with SuperNET. SuperNET was essentially selling advertising services to CoinEvolve, this arrangement was almost risk free, since nothing was being purchased by SuperNET.

However, soon after the agreement had been made public, Christian created a series of new assets relating to aspects of CoinEvolve that had not been discussed with James. Although these had nothing to do with SuperNET, James offered advice in how to go about creating these and furthering his business (advise which Christian agreed to follow but did not). None of the assets were purchased by SuperNET and James did not endorse them. Nevertheless, taking advantage of the publicity and status provided by the existing association between CoinEvolve and SuperNET, Christian promoted these assets and many were bought by members of the SuperNET community – driving the price up steeply.

Soon afterwards, the asset prices crashed and the funds paid to Christian Sommer for them were sent to BTer and exchanged for BTC. After disappearing for a few days, Christian briefly resurfaced on NXT forum, claiming he had been the victim of a theft by one of his co-workers. This news was treated with open-mindedness but a degree of scepticism. Christian Sommer was asked to provide proof of his claim, ideally a copy of a police report relating to his employee. To date, there has been no documentation of any such incident, nor any further contact from Christian Sommer.

James sent the following AM (txid 6374368705651792002) to CoinEvolve:

###
All agreements between SuperNET and coinevolve are hereby terminated due to abandonment by Chris Sommers.

James
###

Additionally, James posted the following message with regard to the situation:

In spite of my cautions and lack of endorsement, people went out of their way to buy coinevolve assets. As an advertising vendor SuperNET cannot do a due diligence on every single revshare partner. However, since just my mentioning anything seems to make it go up, I have decided to not mention any future revshare advertising deals. This will be done by a separate person.

Also, PLEASE beware of false assets, unproven issuers and if I am not making a specific recommendation, there is usually a reason. If you want to copy my market moves, there are things like JLH, sharkfund0 and SuperNET/UNITY. If you are going outside the recommended paths, then you need to make sure to do your homework and know the risks you are taking. Also, do not put much weight on having real world identity. The two largest scams in NXT have been by people with known real world identities. This seems to lull people into false sense of security.

Investors are reminded to do their own due diligence on any coin or asset they purchase.

SuperNET development update

We need 10 servers to test ASAP

VPS Ubuntu that can run NXT and BitcoinDarkd is all that is needed, each with unique IP. Everybody who can help please come to https://forum.thesupernet.org/index.php?topic=66.0 to coordinate!

James:

We’ve got a test network that is working with the basics that allow each node to discover the other nodes and send messages to each other. Still need to efficiently propagate the info to all the nodes.

Now that there is a live network, I can verify proper discovery of the routing info. I also figured out how to make all onion packets the same size, but running out of space, so I think I will add a compression/decompression to the first stage of the onion. this should get 50% to 100% more capacity.

If things go well by early next week, I will be able to finalize the Teleport, which is currently being design reviewed by anonymint and will also be reviewed by Kristov Atlas

I would say 95%+ of everything other than Privatebet is coded. However, the last 5% is always the toughest and going through deployment testing can take a while. I speak of my code, not about the GUI side.

SuperNET forum

In the last days the SuperNET [ANN] thread has unfortunately been somewhat overtaken by trolls. As a result of this James has decided to leave it. The thread will not be locked, but the main action will move to https://forum.thesupernet.org. You are hereby invited to join the forum.

James, on Sep 28, 2014:

I remember the NXT threads on BTT, it was just horrible and today reminded me of that.

OK, I am closing my browser tab with this thread on it, so see you in the SuperNET forum!

That is where the real action will be. All the latest news on the latest coins, assets, dividends, all on the SuperNET forum and maybe some time later it will get posted here.

I will not be monitoring this thread on a regular basis, others will. If you want to post something to me, please go to http://forum.thesupernet.org, I will monitor things there more actively, though I am in the middle of much coding now, so do not expect immediate response.

James

SuperNET related links

Supernet Forum

https://forum.thesupernet.org

Follow SuperNET news

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/pages/Jl777/688097541246130?ref=stream

SuperNET related projects:

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

Atomic
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets
https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

Attention coin representatives

Please send your application to join SuperNET CORE to coins@thesupernet.org

The next SuperNET Newsletter will contain more information about the core coins and assets, as well as news and development updates.

This newsletter was first published by SuperTEAM.  SIGN UP FOR SUPERNET NEWSLETTER @ thesupernet.org.

SuperNET ICO ends [UPDATED!]

UPDATED 23.09.2014

The selling of Nxt asset TOKEN,  which represents shares in SuperNET/UNITY, is coming to an end. The fundraising got off to a tremendous start, raising an amazing 2000 BTC in just 2 hours with a large part of the investment being made in NXT.

When jl777 announced the ICO on bitcointalk.org, he set the rule that the ICO would run for a minimum of 2 weeks, and after that it would be prolonged for 2 more days as long as daily sales were > 3% of the total. TOKEN is still available on BTER, where it’s traded against NXT, BTC, BTCD and CNY, and on the Nxt Asset Exchange (NXT), but not for much longer now.

jl777
on September 20, 2014:

Total TOKEN so far: 482735.48203719

So if tomorrow doesn’t do 14482.0644611157 new TOKEN, this triggers the close 2 days later.

Since we have not had such numbers for almost a week, it seems everybody who wanted to get TOKEN has done so and we can get to the business of voting, issuing SuperNET/UNITY and starting the market trading.

So this morning it was confirmed:

SuperNET ICO will end 1400 GMT on Tuesday.

Voting

Voting will end 1400 GMT on Wed.

jl777:

I think one day for the voting
one day to distribute assets and start trading

jl777 will not receive any free TOKEN. On the contrary he has transferred 2000BTC worth of assets from his personal holdings to the SuperNET core. SuperNET holders are to vote whether to give a 5% bonus to James if he can raise the SuperNET market cap x3 before the end of 2014, and an additional 5% bonus to him if the market cap is x10 by the end of 2015.

The voting will be to Approve or Reject.

BTER

[UPDATE]

BTER is setting up a voting page (to be announced).

BTER TOKEN holders must vote here: https://bter.com/article/3023

Nxt Asset Exchange

For NXT AE TOKEN holders the following addresses are used for voting:

ApproveBonus: NXT-GR5T-8W3L-UFQP-8VFPV
RejectBonus: NXT-FCHV-C8VL-YWFJ-EELVV

Sending any message will count as a vote. The last tx to either of the above accounts will be your vote.

jl777:

#### Proposed voting ballot
The BTC equivalent raised would be the total BTC equivalent at the time the fund raising is closed using the then current coinmarketcap prices for the NXT, CNY, BTCD. Let us call this the “BTC raised”

5% bonus achieved when the BTC marketcap from coinmarketcap (or other reliable source) sustains 3x BTC raised for 24hrs+ and another 5% bonus achieved at 10x

In the event the 3x bonus is not achieved before year end 2014, the 5% goes to SuperNET working capital. Similarly the other 5% would go to SuperNET working capital if 10x is not achieved by year end 2015

On the closing of TOKEN fund raising, 10% of SuperNET assets to go to working capital, 10% to jl777 for the 2000BTC of assets, 10% held in reserve for the 3x and 10x bonus. The minimum dilution is 10% if neither bonus is achieved and the maximum dilution is 20% if both bonuses are achieved.

Source: https://bitcointalk.org/index.php?topic=762346.msg8916442#msg8916442

jl777:

Reject would mean as originally specified.

10% dilution to me in exchange for my assets. no working capital and no bonus for achieving 3x and 10x and a disappointed jl777.

The difference between accept and reject in the case of less than 3x is whether SuperNET has 10% of assets available to use for coinswaps and the ability to raise more funds in the future. All this working capital will belong to the SuperNET so it is not dilutive.

So the bonus is primarily a way for my 2000 BTC worth of assets to earn up to 1000 BTC of UNITY. The value to TOKEN holders is of course that the extra 5% or 10% dilution only happens at 3x and 10x ROI, so the extra dilution would make it 2.85x and 9x gains

SuperNET/UNITY will be released for trading when TOKEN holders have approved or rejected the bonus proposal.

Trading

Trading of SuperNET/UNITY will start 1400 GMT on Thursday

BTER

SuperNET asset will automatically replace the TOKEN in your account.
The SuperNET asset will be called UNITY.

Nxt Asset Exchange

UPDATE:

If you have TOKEN in the Nxt Asset Exchange you will be sent the equivalent amount of UNITY as a dividend; you will still have your TOKEN but these will no longer have any value other than whatever collector value they may possibly attract.

In order to avoid worthless TOKEN assets being sold as UNITY the procedure has changed.

TOKEN must be sent to a redemption address. It will send back a matching amount of SuperNET/UNITY. 

jl777

valarmg is not sure he will have this ready by Thursday, so there could be a bit of a delay for starting trading, but it seems worth it to avoid any confusions.  

SuperNET will provide liquidity at NAV of its crypto portfolio.

jl777:

When trading starts 1% of the raised funds will be used for a NAV bid.
For example, if 10000 BTC is raised, there will be a 100 BTC buy wall at the NAV.

[This] is meant to allow people to cashout at NAV even if there are no bids above book value. I will start with 1% of the fund allocated to this, but this is subject to change. I expect that there will be some premium over NAV for SuperNET, so I dont expect to need much percentage of the total funds to provide the needed NAV bid.