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[Part 1] KAVA Historical AMA Tracker! (Questions & Answers)

ATTN: These AMA questions are from Autumn 2019 - before the official launch of the Kava Mainnet, and it's fungible Kava Token.
These questions may no longer be relevant to the current Kava landscape, however, they do provide important historical background on the early origins of Kava Labs.
Please note, that there are several repeat questions/answers.

Q1:

Kava is a decentralized DEFI project, why did you implement the countries restrictions to run the node? Will there be such restrictions by the time of the mainnet?

Q2:

According to the project description it has been indicated that staking reward (in KAVA tokens) varies from 3 to 20% per annum. But how will you fight with inflation?

We all know how altcoins prices are falling, and their bottom is not visible. And in fact, we can get an increase in the number of tokens for staking, but not an increase in the price of the token itself and become a long-term investor.

  • Answer: Kava is both inflationary with block rewards, but deflationary when we burn CDP fees. Only stakers who bond their Kava receive inflationary rewards - users and traders on exchanges do not get this. In this way, rewards are inflated, but given to stakers and removed value from the traders who are speculating like a tax. The Deflationary structure of fees should help counterbalance the price drops from inflation if any. In the long-term as more CDPs are used, Kava should be a deflationary asset by design if all things go well

Q3:

In your allocation it is indicated that 28.48% of the tokens are in the "Token treasury" - where will these tokens be directed?

  • Answer: Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released.
  • No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q4:

Such a platform (with loans and stable coins) is just the beginning since these aspects are a small part of many Defi components. Will your team have a plan to implement other functions, such as derivatives, the dex platform once the platform is successfully launched?

  • Answer: We believe Kava is the foundation for many future defi products. We need stable coins, oracles, and other infrastructure first that Kava provides. Once we have that, we can apply these to derivatives and other synthetics more easily. For example, we can use the price feeds and USDX to enable users to place 100x leverage bets with each other. If they both lock funds into payment channels, then they can use a smart contract based on the price feed to do the 100x trade/bet automatically without counter party risk. In this way, Kava can expand its financial product offerings far beyond loans and stable coins in the future.

Q5:

There are several options for using USDX on the KAVA platform, one of which is Margin Trading / Leverage. Is this a selection function or a compulsory function? Wondering since there are some investors who don`t like margin. What is the level of leverage and how does a CDP auction work?

  • Answer: This is a good #Q . Kava simply provides loans to users in USDX stable coins. What the users do is completely up to them. They can use the loans for everyday payments if they like. Leverage and hedging are just the main use cases we foresee - there are many ways people can use the CDP platform and USDX.

Q6:

Most credit platforms do not work well in the current market. What will you do to attract more people to use your platform and the services you provide? Thank you

  • Answer: Most credit platforms do not work well in the current market? I think that isn't correct at least for DeFi. Even in the bear market, MakerDao and Compound saw good user growth. Regardless, our efforts at Kava to build the market are fairly product and BD focused. 1) we build more integrations of assets and expand financial services to attract new communities and users. 2) we focus on building partnerships with high quality teams to promote and build Kava's core user base. Kava is just the developer. Our great partners like Ripple, Stakewith.Us, P2P, Binance - they have the real users that demand Kava. They are like our system integrators that package Kava up nicely and present it to their users. In order to grow, we need to deepen our partnerships and bring in new ones around the world.

Q7:

KAVA functions as a reserve currency in situations where the system is undercollateralized. In such cases new KAVA is minted and used to buy USDX off the market until USDX becomes safely overcollateralized.

Meaning, there will be no max supply of KAVA?

  • Answer: Yes, there is no max supply of Kava.

Q8:

Why Kava?

  • Answer: ...because people are long BTC and the best way to go long BTC without giving up custody is Kava's platform. Because it is MakerDao for bitcoin. Bitcoin has a 10x market cap of ETH and Maker is 10x the size of Kava. I think we're pretty undervalued right now.

Q9:

How do you plan to make liquidity in Kava?

  • Answer: Working with Binance for the IEO and as the first exchange for KAVA to trade on will be a huge boost in increasing the liquidity of trading KAVA.

Q10:

Most crypto investors or crypto users prefer easy transaction and low fees, what can we expect from KAVA about this?

  • Answer: Transaction fees are very low and confirm if seconds. The user experience is quite good on Tendermint-based blockchains.

Q11:

How do I become a note validator on KavA?

Q12:

It is great to know that KAVA is the first DEFI-supported project sponsored by Binance Launchpad, do you think this is the meaning that CZ brings: Opening the DEFI era, as a leader, you feel like how ?

  • Answer: We are the first DeFi platform that Launchpad has supported. We are a very strategic blockchain for major crypto like BNB. Kava's platform will bring more utility to the users of BNB and the Binance DEX. It feels good of course to have validation from the biggest players in the space like Cosmos, Ripple, CZ/Binance, etc.

Q13:

Since decentralized finance applications is already dominating, how do you intend to surpass those leading in the market?

  • Answer: The leaders are only addressing ethereum. BTC, XRP, BNB, ATOM is a much larger set to go after that current players cannot.

Q14:

What does Ripple play in the Kava's ecosystem, since Ripple is like a top tier company and it’s impressive that you are partnered with them?

  • Answer: Ripple is an equity investor in Kava and a big supporter of our work in cross-chain settlement research and implementations. Ripple's XRP is a great asset in terms of users and liquidity that the Kava platform can use. In addition, Ripple's money service business customers are asking for a stable coin for remittances to avoid the currency heading risk that XRP presents. Ripple will not use USDC or other stable coins, but they are open to using USDX as it can be XRP-backed.

Q15:

Considering the connectivity, Libra could be the biggest competitor if KAVA leverages interchain for efficiency.

  • Answer: With regard to USDX, it is important to understand the users interacting with the Kava blockchain have no counterparty that people could go after for legal actions. A user getting a USDX loan has no counterparty. The software holds the collateral and creates the loan. The only laws that would apply are to the very users that are using the system.

Q16:

Wonder how KAVA will compete with the tech giants

  • Answer: Libra is running into extreme issues with the US Senate and regulators. Even the G7-G20 groups are worried. Its important to understand that Libra is effectively a permissioned system. Only big companies that law makers can go after are able to run nodes. In Kava, nodes can be run by anyway and our nodes are based all over the world. It's incredibly hard for a law maker to take down Kava because they would need to find and legally enforce hundreds of business in different jurisdictions to comply. We have an advantage in this way over the larger projects like Libra or Clayton.

Q17:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Technical risk is unavoidable for DeFi. Only time will tell if a system is trustworthy and its never 100% that it will not fail or be hacked. This is true with banks and other financial systems as well. I think for DeFi, the technical risk needs to be priced in to the expected returns to compensate the market. DeFi does have a better user experience - requiring no credit score, identity, or KYC over centralized solutions.
  • With our multi-collateral CDP system, even with it overcollateralized, people can get up to 3x leverage on assets. Take 100 USD in BTC, get a USDX loan for 66 USDX, then buy $66 BTC and do another loan - you can do this with a program to get 3x leverage with the same risk profile. This is enough for most people.
  • However, it will be possible once we have Kava's CDP platform to extend it into products that offer undercollateralized financial products. For example, if USER 1 + USER 2 use payment channels to lock up their USDX, they can use Kava's price feeds to place bets between each other using their locked assets. They can bet that for every $1 BTC/USD moves, the other party owes 3x. In this way we can even do 100x leverage or 1000x leverage and create very fun products for people to trade with. Importantly, even in places where margin trading is regulated and forbidden, Kava's platform will remain open access and available.

Q18:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Kava believes that stable coins should be backed not just by crypto or fiat, but any widely used, highly liquid asset. We think in the future the best stablecoin would be backed by a basket of very stable currencies that include crypto and fiat or whatever the market demands.

Q19:

Compound, maker they're trying to increase their size via the competitive interests rates. THough it shows good return in terms of growth rate, still it's for short-term. Wonder other than financial advantage, KAVA has more for the users' needs?

  • Answer: Robert, the CEO of Compound is an investor and advisor to Kava. We think what Compound does with money markets is amazing and hope to integrate when they support more than just Ethereum assets. Kava's advantage vs others is to provide basic DeFi services like returns on crypto and stable coins today when no other platform offers that. Many platforms support ETH, but no platform can support BTC, XRP, BNB, and ATOM in a decentralized way without requiring centralized custody of these assets.

Q20:

The vast majority of the cryptocurrency community's priorities is symbolic pricing. When prices rise, the community rejoices and grows. When they fall, many people begin to cast in a negative way. How will KAVA solve the negative problem when the price goes down? What is your plan to strengthen and develop the community to persuade more people to look at the product than the price?

  • Answer: We believe price is an important factor for faith in the market. One of Kava's key initiatives was selecting only long-term partners that are willing to work with kava for 2 years. That is why even after 6 months, 0 private investor or kava team tokens will be liquid on the market.
  • We believe not in fast pumps and then dumps that destroy faith, but rather we try and operate the best we can for long-term sustainable growth over time. It's always hard to control factors in the market, and some factors are out of our control such as BTC price correlations, etc - however, we treat this like a public company stock - we want long-term growth of Kava and try to make sure our whole community of Kava holders is aligned with that the best we can.

Q21:

Do you have any plans to attract non-crypto investors to Kava and how? What are the measures to increase awareness of kava in non-crypto space?

  • Answer: We are 100% focused on crypto, not the general market. We solve the problems of crypto traders and investors - not the average grandma who needs a payment solution. Kava is geared for decentralized leverage and hedging.

Q22:

Adoption is crucial for all projects and crypto companies, what strategy are you gonna use/follow or u are now following to get Kava adopted and used by many people all over the world?

Revenue is an important aspect for all projects in order to survive and keep the project/company up and running for long term, what are the ways that Kava generates profits/revenue and what is its revenue model?

  • Answer: We have already partnered with several large exchanges, long-term VCs, and large projects like Ripple and Cosmos. These are key ways for us to grow our community. As we build support for more assets, we plan to promote Kava's services to those new communities of traders.
  • Kava generates revenue as more people use the platform. As the platform is used, KAVA tokens are burned when users pay stability fees. This deflates the total supply of Kava and should in most cases give rise to the value of KAVA like a stock-buyback in the public markets.

Q23:

In order to be success in Loan project of Cryptocurrency, I think marketing is very important to make people using this service without any registration. What is main strategy for marketing?

  • Answer: Our main strategy is to build a great experience and offer products that are not available to communities with demand. Currently no DeFi products can serve BTC users for example. Centralized exchanges can, but nothing truly trustless. Kava's platform can finally give the vast audiences of BTC, BNB, and ATOM holders access to core DeFi services they cannot get on their own due to the smart contract limitations of those platforms.

Q24:

Currently, some project have policies for their ambassadors to create a contribution and attract recognition for the project! So the KAVA team plans to implement policies and incentives for KAVA ambassadors?

  • Answer: Yes, we will be creating a KAVA ambassador program and releasing that soon. Please follow our social media channels to learn about it in the coming weeks.

Q25:

Currently there are so many KAVA tokens sold on exchanges, why is this happening while KAVA is going to IEO on Binance? Are those KAVA codes fake or not?

  • Answer: For everyone's safety, please understand Kava tokens do not exist yet and they will only exist starting with the Binance IEO. Any other token listings or offerings of Kava are not supported by Kava Labs and I highly discourage you all from trying to get them there. It is most likely a big scam. Please only trust Binance for this.

Q26:

KAVA have two tokens, the first is called Kava - a governance and staking token; the second is called USDX - an algorithmically managed crypto-backed stable coin. What are the advantages of USDX compared to other stablecoins such as: USDT, USDC, TUSD, GUSD, ...?

  • Answer: USDX is one of the few stablecoins to be fully backed by crypto-assets. This means that we do not deal with fiat to back the value, and thus we don't have some of the issues when it comes to storing fiat funds with banks and custodians. This also makes our product fully digital and built for the future of crypto growth.

Q27:

As a CEO, does your background in Esports and Gaming industry help anything to your management and development of KAVA Labs?

  • Answer: Esports no. But having been a multi-time venture-backed foundeCEO and have gone through the start-up phase before has made creating and running a 2nd company easier. Right now Kava is still small, Fnatic had over 80 employees. It was at a larger scale. I would say developing software is much more than doing the hardware at fnaticgear.com

Q28:

Why did Kava choose to launch IEO on Binance and not other exchanges like: Kucoin, Houbi, Gate, ....?

  • Answer: Kava had a lot of interest from exchanges to partner with for IEO. We decided based on a lot of factors such as userbase, diverse exposure across multiple regions and countries, and an amazing team that provides so much insight into so many communities such as this one. Binance has been a tremendous partner and we also look forward to continuing our partnership far into the future.

Q29:

Currently if Search on coinmarketcap has 3 types of stablecoins bearing the USDX symbol (but these 3 stablecoins are no information). So, what will KAVA do to let users know that Kava's USDX is another stablecoin?

  • Answer: All these USDX have no volume or listings. We will be on Binance. I am not worried.

Q30:

In addition to the Token Allocation for Binance Launchpad, what is the Token Treasury in the Initial Circulating Supply?

  • Answer: This is controlled by Kava Labs, but with the big cash we have saved from fundraising, we see no reason why these tokens would be sold on the market. The treasury tokens are for use in grants, ecosystem growth initiatives, development, and other incentive programs to drive adoption of the platform.

Q31:

How you will compete with your competitors? Currently i don't see much but for future how you will maintain this consistency ? No doubt it is Great and Unique project, what is the main problem that #KAVA is currently facing?

  • Answer: Because our industry is just starting out, I don't like to think of them as our direct competitors. We are all working to grow the size of the pie rather than get a larger slice from a small pie. The one thing that we believe will allow us to stand apart is the community we are building. Being able to utilize our own community along with Cosmos and our other partners like Binance for the IEO, we have a strong footing to get a lot of early users onto our platform. Also, we are also focusing on growing Kava internationally particularly Asia. We hope to build our platform for an even larger userbase than just the west.

Q32:

How do you explain your project to a random person who has never heard of your project?

  • Answer: non-crypto = Kava is a lending platform for users of cryptocurrencies.
  • crypto = Kava is a cross-chain DeFi platform for loans and stablecoins backed by BTC, BNB, XRP, ATOM and other major cryptocurrencies.

Q33:

Will KAVA team have a plan on implementing DAO module on your platform since its efficiency on autonomy, decentralization and transparency?

  • Answer: All voting is already transparent on the Kava blockchain. We approved a number of proposals on our test net.

Q34:

how to use usdx token :only for your platform or you have plan to use usdx for payment ?

  • Answer: Payments is a nice use case, but demand for crypto payments is still small. We may choose to focus here later if demand for crypto payments increases. Currently it is quite small with the bulk of use remaining in trading and speculative use cases.

Q35:

Do you have plans to spread KAVA ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?

  • Answer: We are already across many continents - I don't think we are in antarctica yet. Africa might be light on nodes as well. I think as we grow on major exchanges like Binance, new node operators will get interested and help decentralize Kava further.

Q36:

Maker's CDP lending system is on top in this market and its Dominance is currently sitting on 64.90 % , how kava will compete will maker and compound?

  • Answer: adding assets like bitcoin which have more value and more users than ETH. It's a bigger market that Maker cannot compete with Kava in.

Q37:

Currently, the community is too concerned about the price. As prices rise, the community rejoice and grow, when falling, many people start throwing negatively. So what is KAVA's solution to getting people to focus on the project rather than the price of the token?

What is your plan to strengthen and grow the community to persuade more individuals to look at the product than the price?

  • Answer: We also share similar concerns as price and price direction is always a huge factor in the crypto industry. A lot of people of course are very short-term focused on flipping for bigger profits. One of the solutions, and what Kava has done, is to make sure that everything structured is for the long-term. So that makes sure that our investors and employees are all focused on long-term gains and growth. Locking vesting periods are part of that alignment. Another thing is that we at Kava are very transparent in our progress and development. We will be regularly posting updates within our own communities to allow our users and followers to keep up with everything we're up to. Please follow us or look at our github if you're interested!

Q38:

How did Kava get on Piexgo?

  • Answer: We did not work with Piexgo. We have not distributed tokens to any exchange other than Binance. I cannot speak to what is going on there, but I would be very wary of what is happening there.

Q39:

Why was the 1st round price so much lower than the current price

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.

Q40:

What is the treasury used for?

  • Answer: Kava's treasury is for ecosystem growth activities.
  • Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released. No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q41:

Everyone have heard about the KAVA token, and read about it. But it would be great to hear your explanation about it. What is the Kava token, what is it's utility? :)

  • Answer: The Kava token plays many roles. KAVA is the native staking token of the Kava blockchain and is used for securing the network. KAVA is delegated to validators, basically professional node operators that run highly-available servers to secure the Kava blockchain. The top 100 validators by weight of staked KAVA earn block rewards that range from 3-20% APR based on the total amount staked in the network. These rewards are split between the validators and the KAVA holders.
  • When users of the platform repay their loans, they must a stability fee (a percentage of the loan) in KAVA tokens. These tokens are burned by the system, effectively deflating the total supply overtime as more users use the CDP system.
  • KAVA is also the primary token used in governance of the platform. KAVA token holders can vote on key system parameter changes and upgrades such as what assets to support, how much USDX in total can be loaned by the system, what the debt-to-collateral ratio needs to be, the stability fees, etc. KAVA holders have a very important responsibility to govern the system well.
  • Lastly, Kava functions as a "Lender of Last Resort" meaning if USDX ever gets undercollateralized because the underlying asset prices drop suddenly and the system manages it poorly, KAVA is inflated in these emergency situations and used to purchase USDX off the market until USDX reaches a state of being over collateralized again. KAVA holders have incentive to only support the good high quality assets so risk of the system is managed responsibly.

Q42:

No matter how perfect and technically thought-out a DeFi protocol is, it cannot be completely protected from any unplanned situations (such as extreme market fluctuations, some legal issues, etc.)

Ecosystem members, in particular the validators on whom KAVA relies on fundamental decision-making rights, should be prepared in advance for any "critical" scenario. Considering that, unlike the same single-collateral MakerDAO, KAVA will be a multi-collateral CDP system, this point is probably even more relevant here.

In this regard, please answer the following question: Does KAVA have a clear risk management model or strategy and how decentralized is / will it be?

  • Answer: Simialar to other CDP systems and MakerDAO we do have a system freeze function where in cases of extreme issues, we can stop the auction mechanisms and return all collateral.

Q43:

Did you know that "Kava" is translated into Ukrainian like "Coffee"? I personally do love drinking coffee. I plunge into the fantasy world. Why did you name your project "Kava" What is the story behind it? What idea / fantasy did your project originate from, which inspired you to create it?

  • Answer: Kava is coffee to you.
  • Kava is Hippopotamus to Japanese.
  • Cava is a region in Spain
  • Kava is also a root that is used in tea which makes your mouth numb.
  • Kava is also crow in Hindi.
  • Kava last but not least is a DeFi platform launching on Binance :)
  • We liked the sound of Kava it was as simple as that. It doesn't have much meaning in the USA where I am from. But it's short sweet and when we were just starting, Kava.io was available for a reasonable price

Q44:

What incentives does a lender get if a person chooses to pay with KAVA? Is there a discount on interest rates on the loan amount if you pay with KAVA? Do I have to pass the KYC procedure to apply for a small loan?

  • Answer: There is no KYC for Kava. Its an open blockchain software platform where anyone with a computer can connect to it and use it.

Q45:

Let's say, I decided to bond my cryptocurrency and got USDX stable coins. For now, it`s an unknown stable coin (let's be honest). Do you plan to add USDX to other famous exchanges? Also, you have spoken about the USDX staking and that the percentage would be higher than for other stable coins. Please be so kind to tell us what is the average annual interest rate and what are the conditions of staking?

  • Answer: Yes we have several large exchanges willing to support USDX from the start. Binance/Binance-DEX is one you should all know ;)
  • The average annual rates for USDX will depend on market conditions. The rate is actually provided by the CDP fees users pay. The system reallocates a portion of those fees to USDX users. In times when USDX use needs to grow, the rates will be higher to incentivize use. When demand is strong, we can reduce the rates.

Q46:

Why should i use and choose Kava's loan if i can use the similar margin trade on Binance?

  • Answer: If margin is available to you and you trust the exchange then you should do whatever is cheaper. For a US citizen and others, margin is often not available and if it is, only for a few asset types as collateral. Kava aims to address this and offer this to everyone.

Q47:

The IEO price is $ 0.46 while the price of the first private sale is $ 0.075. Don't you think that such price gap can negatively affect the liquidity of the token and take away the desire to buy a token on the exchange?

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.
  • TLDR - I think KAVA is undervalued and the liquid supply of tokens is primarily from the IEO so its a safer bet than other IEOs. If the price drops, it will be from the overall market conditions or fellow IEO users not due private sale investors or team sell-offs.

Q48:

Can you introduce some information abouts KAVA Deflationary Fee Structure? With the burning mechanism, does it mean KAVA will never reach its max supply?

  • Answer: When loans are repaid, users pay a fee in Kava. This is burned. However, Kava does not have a max supply. It has a starting supply of 100M. It inflates for block rewards 3-20% APR AND it inflates when the system is at risk of under collateralization. At this time, more Kava is minted and used to purchase USDX off the market until it reaches full collateralization again.
  • TLDR: If things go well, and governance is good, Kava deflates and hopefully appreciates in value. If things go wrong, Kava holders get inflated.

Q49:

In your opinion what are advantage of decentralized finance over centralized?

  • Answer: One of the main advantages is not needing to pay the costs of regulation and compliance. Open financial software that is usable by anyone removes middle men fees and reduces the barrier for new entrants to enter and make new products. Also DeFI has an edge in terms of onboarding - to get a bank account or an exchange account you need to do lots of KYC and give private info. That takes time and is troublesome. With DeFi you just load up your funds and transact. Very fast user flows.

Q50:

Plan, KAVA how to raise capital? Kava is being supported by more than 100 business entities around the world, including major cryptocurrency investment funds like Ripple and Cosmos, so what did kava do to convince investors to join the project?

  • Answer: We have been doing crypto research and development for years. Ripple and Cosmos were partners before we even started this blockchain with Kava Labs. When we announced Kava the DeFi platform they knew us already to do good work and they liked the idea so they support us.
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A summary of issues with Garena (Re-post)

Body:
This is probably not the first time, nor the last time this type of post would be created, but I feel that this has to be addressed. Riot has neglected Garena for way too long, and with the rumors of the contract between Riot and Garena coming to an end, I feel that this is a good time to address it.
This post is a consolidation of various sources and other posts, along with some personal opinions as a player on the SG/MY server of Garena.
For those unaware, Garena is a server provider that Riot licensed League of Legends to for it to host in the South-East Asian regions, in countries such as Indonesia, the Philippines, Singapore, and Malaysia.

MAJOR PROBLEMS:

Hiding Content:
Garena has always had hidden content. We never got to see last year's end of year statistics; we never have patch notes linked in the client; we never have a lot of the features that Riot's Client have. We have the basics, but not the luxuries.
Also, they have also made it impossible for users to reroll Skin Shards into Prestige/Mystic skins. On the one occasion where their system was bugged, a user got it but Garena quickly took it away from him and gave him Skin Shards.
Reddit Post Regarding Issue
Imgur of Garena "Support" Replying
Gambling:
Garena advocates gambling among it's users. 24/7, we have this thing called 'Lucky Crates', which are borderline scams. They usually contain 1-2 rare items, or a set of rare items, for a low RP cost but also have the chance to contain useless items such as 10 Orange Essence and 10 Blue Essence.
Recently, they have also launched a "Poro Pillionare", where you can spin a lucky wheel in order to win skins, 'shards', and BE/OE. The 'shards' can be used to buy skins, even exclusive ones such as PAX TWISTED FATE:
The Wheel Of Luck
Their Shop
Blatant Money Grabs:
Garena has released K/DA Prestige Evelynn to their store as part of a gambling game. If you can guess 1 out of 9, you win the skin, and you can pay a small amount of RP to remove a guess, meaning for 1840 RP you get:
K/DA Prestige Evelynn
6 Masterwork Chests + Key
5 Hextech Chests + Key
3 Emotes
5 K/DA Orbs
K/DA Bag
The fact that just the 11 chests alone are worth 1840 means that the value of this is dropped drastically.
Screenshot of the cash-grab in the Garena Client - Credit to u/smexxyhexxy
e-Sports Betting:
Citing this recent Reddit post, Garena has been using the e-Sports scene of LoL in order to make money for themselves. This has been occurring since many seasons ago, but this is the first time there is conclusive evidence of this - unhealthy for the e-Sports scene in general.
Here are links to the video in question:
YouTube (Starts at around 10 minutes)
Streamable Backup
Image 1 | Image 2
Cryptomining:
Citing this article on Bitcoin List, Garena has been using their launcher (for those unaware, Garena has their own platform in which you must use to launch LoL on) to install a cryptominer onto the systems of those playing LoL, and as a result the GPU and CPU rate of the computers have gone down drastically, while players attribute the issue to unoptimisation. Thankfully, it seems to have gone, although from personal experience I still feel there is something draining my GPU at all times when the launcher uses about 30% of it. EVEN THE ACTUAL GAME ONLY TAKES UP 40%
Random Server Merges:
Recently, the Indonesian server of Garena merged with the Singapore/Malaysian server. Aside from the fact that it mixes up people that speak very different languages in the same server, according to this post made by Garena themselves (it is in Indonesian so I'll translate), the Indonesian users will lose their:
- Match-Making Rating and Rank
- Username and Clubs
- Friends list and Honor level
- All champion Mastery Points
- All current Hextech crafting shards
This is an obvious change; imagine yourself as an NA player, suddenly stripped of your username and rank, along with that M7 Yasuo you spent so long to earn, only to be forced to transfer to a server which does not speak English, and has worse ping. Yeah, that would really suck.
Marketing:
Quoting from this post:
In Vietnam you can have a nice meal with 2$ (i am not even kidding) and our average salary income in Vietnam is about 250$-350$ or even lower. So the skin prices before the "big change" was very cheap and accessible for everyone with an average income. Notice that we have different RP ratio in Vietnam server: - 149 RP for a 750 RP skin (cost 1.75$) - 199 RP for a 975 RP skin (cost 2.5$) - 299 RP for a 1350 RP skin (cost 3.75$) - 399 RP for a 1820 RP skin (cost 5$) - 799 RP for an Ultimate skin (cost 10$) 
The average income for an American household is 4.5k a month according to CNBC, so by that calculation, it would cost roughly:
27 USD for a 750 RP skin
38 USD for a 975 RP skin
56 USD for a 1350 RP skin
75 USD for a 1820 RP skin
150 USD for an Ultimate skin
If that sounds ridiculous to you, then yes, it is.
submitted by HebiIsSnake to leagueoflegends [link] [comments]

Best Betting Sites » Top International Betting Sites 2020

  1. KTO
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  1. BETUS
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  1. BET9JA
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  1. TIPBET
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A fresh bookmaker taken part in sports wagering, specifically in the UK as well as America is named RedZone Sports. The site is highly in cognition with as well as also possessed by the Spotnation bookies. Argyll Amusement AG. Attacking the gaming sector in 2017, this fresh bookie reveals wonderful rate of interest in America's sportsbooks. The website is regulated by The Gaming Commission, a highly suggested global gambling authority, and this assures the user that the cash they are investing is safe and also secured. With a considerable focus on games like United States football, baseball as well as hoops, this internet site consigns helpful odds on several sporting activities. It is possible for the individual to play online or In-play alternatives are likewise available. This website gives the individual an authentic wagering experience by providing large-scale hypothesizing markets.
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Casino poker celebrity, very acquainted as well as honoured on-line texas hold'em service provider, spin-offs the Betstars website. The website is visited consistently by countless consumers who are intended to seek satisfaction from all the on-line alternatives the website gives. This substantial number of punters seeing the site has actually helped the site being deemed as one of the most rated bookies around the globe.
  1. wager
Malta video gaming authority supervises of synchronizing PWR wager, a just recently added mobile-friendly bookmaker site. This site was presented in 2018. This site exceedingly advertises via its application, however as being an Android app, it is unfeasible for the people utilizing the apple iphone. Among others, this site provides betting on the derby, football as well as additionally sustains E-Sports wagering.
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  1. RoBet Sportsbook
RoBet established foot into the European on-line bookie market in 2019. Government of Curacao oversees the site guaranteeing that it goes along with honest implementation of sporting activities scheduling. The customers can confide in them for leisure ventures.
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Jetbull was founded in 2007. This site is secondary to OddsMatrix. Different languages are passed on the internet site. The site has ingrained markets in football, supplying countless chances yet is concentrated constrained to concentrate on US players.
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Redbet, a premier online casino brand name intervened in the on theinternet sporting activities reserving industry. This site was produced in 2002 with a mission of producing fun for the individual by attracting them to the website by supplying successful chances. It is a well-reputed website where the gamer's joy is the initial issue.
  1. Fonbet
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  1. ComeOn
ComeOn became a brand-new bookie website in 2009. It is a secondary firm of Co-Gaming Limited. Malta Pc gaming Authority administrates the site. To operate in the UK, they are accredited from the UK Gambling Compensation. Markets of Scandinavia are the prime focus of the site.
  1. Marathonbet
Marathonbet was acknowledged in 1997 as a self -reliant bookmakers site. It is run by Panbet Limited, a firm that is in charge of running retail barters in the UK. This bookmaker website is deeply committed towards the UK members although it is well-reputed worldwide
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  1. Bet-at-home
This company arised in 1999 later on releasing its website in March 2000. It soon became a supply firm and was provided at the stock market. This website is a credible sponsor for worldwide game events. It supplies betting odds on prominent gaming occasions. Followed by more than 4 million customers, it has become one of a kind sports scheduling site in Europe. All the info regarding the wagers placed as well as payouts are offered on their site.
  1. Setantabet
This website offers important odds on pc gaming and also horse racing. The website is compatible with mostly all mobile devices. The website has a substantial collection of slot video games and gambling enterprises for the customers. It additionally features a live gambling establishment with single and multiplayer choices. The website likewise aids the individuals through live Chat.
  1. CasinoSahara
It is a little gambling establishment on account of the gathered earnings, yet is taken into consideration a hot area. This internet site is readily available in a range of languages. Live betting games are readily available with different payment methods. Live Conversation is not open 24/7 that is somewhat a drawback to the website.
  1. BetEasy
This bookie website, established in 2014, emerges from Australia giving online betting and sporting activities remedies to the clients. This site is a subsidiary of The Celebrity Team. This website formally funds the Australian Football Organization.

  1. SuperBet
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  1. CasiniaBet
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  1. mercurybet
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  1. Jojobet
This site interacts with a large range of video gaming markets. This website supports bitcoins which includes in the variety of individuals around the world. This website has gained significant repute quickly by providing high odds on numerous betting games. It gives its clients with appreciable services.

  1. Bet8
This is a legally run business in Greece and also declares to satisfy also one of the most requiring clients This is website offers you to bet on above 11,000 sports events taking place on a monthly basis. The site likewise offers excellent probabilities with low price margins to its valuable consumers.

  1. Blackbet
This site is greatly giving a greatly favorable experience to its customers. It is dealt with by passionate staff member intending to offer an outstanding service to the punters. More than 20 sports are available for live betting at this reservation website.

  1. WinnerUK
This website is very recommended for scheduling on competition. They supply great recurring offers together with other recognized promos. This is a powerful yet well-assisting platform for on-line betting as well as sportsbooking.

  1. Wager at Home
Bet-at-home is the certified bookie based in Malta and also Austria. Their company went on expanding with the discussion of an on the internet gambling establishment in 2005. They later on developed into a supply partnership and also in 2009 became a part of the Betclic Everest Team. Their management centre is currently at Portomaso Business Tower in Malta as well as is accredited and controlled by the Malta Gambling Payment.

  1. Twinspires
It is just one of the earliest name present in the field of on the internet sporting activities betting, having actually grabbed popularity amongst customers given that its facility right around ten years in the past. Authorized by the UK Gaming Commission, it is just one of the most relied on on-line betting sites available.

  1. One Hash
One Hash is already the market head in wagering all over the world, with a huge variety of clients in many countries. Their wagering deals pre-competition or online wagering is very broad. Additionally, this manager communicates its online gushing TELEVISION terminal, countless pc gaming competitors.

  1. Mr Eco-friendly
On a remarkable assortment of video games, a vast array of wagers are used by bookmakers, which are determined based on chance. By wagering on these unique possibilities, a bettor can get money on rewarding wagers. It is consistently the situation that the very best online wagering sites for sports will be those that use the very best prospective benefits.
submitted by BetBarter to u/BetBarter [link] [comments]

Diagon

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submitted by DenisGra to ico [link] [comments]

BetOnYourself - the best platform for Gamebet

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https://preview.redd.it/hptvc3x1bgn21.png?width=200&format=png&auto=webp&s=49707636a634385d61c770b84b913802f042ce26
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ESPORTS
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TOTAL annual fee income of $105 million based on the average between both fee amounts, 5%, and 10%.
BUSINESS PROFITABILITY
Based on current player count information, we have predicted our potential earnings in the first year of operations. Since info regarding player count for each game isn't clear and visual to the general public, the actual results can be higher or lower. The model may be a sample calculation that's supported public info on that the supply is often listed. Since the numbers don't seem to be official, the calculations should not be considered as information for an investment in tokens or a solicitation to buy tokens.
The vice corporations don't enable insights of their player base by default, but some of the numbers can be found on sources like Steam Charts and Steam Spy, which apply to PC games only. That means that the numbers across all platforms area unit abundant higher.
The Statistics Portal has published a number of player bases for different games in August of 2017, listed below.LOL 100 million Hearthstone 23.9 million Fortnite 45 million (Source: Epic Games, 2018) FIFA 18 12.3 million PUBG 6.8 million data 2 12.6 million Starcraft 2 2.4 million

For more info

BOUNTYOX Username: @cryptounique
submitted by 1loveone to ICOAnalysis [link] [comments]

- BetOnYourself - the best platform for Gamebet

About some years ago, one of my friends hailed his belief in Bitcoin and explained how he moved his whole life savings onto a hardware wallet and erudite his private alphanumeric key. He looked like a personality from a Neal businessman novel-gritty, daring and irreverent of the world’s established banking systems. While Bitcoin has soared since then and created him a wealthy person repeatedly over, the question now's if it'll still rise in price or if it’s already reached its height.
A digital currency “cryptocurrency” that has no tangible paper or physical coin illustration. Instead, cryptography techniques victimization computers and open supply package generate the currency supported proof, or blockchains. Cryptocurrencies like Bitcoin square measure decentralized: There’s no place sort of a bank wherever the currency is control, and a private security key tied to an open source ledger proves who holds the value. As AN electronic payment system, cryptocurrencies are instantaneous and have low transaction fees compared to traditional banking systems, which are comparatively slow and have high fees associated.
That’s why I’ve been onerous at work making an attempt to share this innovative project with my like crypto lover

About BetOnYourself
The development of the BetOnYourself platform will be funded by selling vouchers (iBET) for our future escrow service fees to ICO backers. Vouchers (iBET) represent a complicated payment offers for the written agreement service and can be usable right once the launch of the BetOnYourself platform. As an iBET owner, you have the right to have your iBET tokens withdrawn at the time of a trade, but you can also decide to sell your rights on the market as iBET will be a tradable token. The iBET token will have a great advantage over other payment options. By victimization the iBET tokens, there will be a 50% discount on the service fees for every single bet placed. The amount of enjoying “bets on yourself” with one token are going to be supported the market value of iBET tokens at the instant of the trade. A transaction for an iBET holder will be charged at the best asking price which favours buying iBET tokens in advance. Any user are going to be charged a fee within the currency they're enjoying in; so, owning iBET tokens beforehand won't be necessary. The fee cost will be executed automatically. iBET owners will have their iBET tokens subtracted from the balance, based on the iBET’s market value.
BetOnYourself is, therefore, the perfect answer for all players out there who want to start earning from their hobby of playing games. Our main goal is to lead to a new way of professional gaming. How? BetOnYourself will serve as a peer-to-peer eSports wagering platform for members to compete against other similar skilled opponents and bet on themselves. The games square measure skill-based, and there will be no chance involved in a set challenge. The user-friendly platform will allow members to choose their own opponents, challenges and bet amount in a quick and efficient way.
As gamers, we have a tendency to noticed a void in services wherever players will vie {in a|during a|in AN exceedingly|in a very} challenge for an actual prize. Becoming knowledgeable gamer is also a dream for several, but only a small percent of them actually achieve that. In a competitive world of eSports, not everyone gets the chance to earn money from their skills, even if they truly possess them. BetOnYourself is here to change that.
BetOnYourself is a platform created by gamers who saw the potential in giving players the power of creating bets on their own gaming skills — a great idea coming to life with a strong team of professionals. Every player can bet as much money as he wants.
Every player can choose his opponent. Everything is in the player’s hands. BetOnYourself serves as a tool for players who want to bet on their own gaming skills against anyone, anytime, anywhere!
ESPORTS
eSports may well be the quickest growing sport within the world with nice benefits. It doesn’t got to be vie in-person; it will be vie anytime, and anyone can play. There are no limitations. It is a world of freedom that adapts to a private would like.eSports, by definition, is competitive gaming at a professional level in an organized format with a specific goal and a transparent distinction between players that square measure competitor against one another. Esports may be a true digital-first multi-platform recreation format, which implies it will be obtainable at the same time on mobile devices, tablets, desktop computers, streaming TVs, social media, stadiums, arenas and more — live or as play per demand.
VISION
As gamers, we tend to noticed a void in services wherever players will contend associate exceedingly|in a very} challenge for an actual prize. There are numerous revenue streams in eSports, the biggest being game publisher fees, media rights, advertising, sponsorship, merchandise and tickets, which combined bring in more than $906 million a year. But there's no revenue for associate degree everyday gamer. BetOnYourself is here to change that.
What makes eSports so appealing?
It is the actual fact that the success of a player is totally freelance of his physical attributes and skills. Two completely different players can excel in the game field, regardless of gender, culture or location. It is an area that connects everybody World Health Organization loves vice in any manner. MARKET OPPORTUNITY
The number of gamers worldwide in two017 was up to 2.2 billion worldwide across all platforms, and in the year before there were only around 13K professional gamers in the world. The percentage of skilled gamers is thus as tiny as zero,0006%. This means there is a massive number of amateur gamers who do not get the chance to make money from their gaming skills. That void will be filled with the BetOnYourself platform.N on-professional eSports players will get a chance to make a financial profit from their gaming skills. Their time may well be well spent, not simply during a sense of getting fun. The goal of BetOnYourself iBET
BUSINESS PROFITABILITY
Based on current player count data, our potential target goal in the first year of business is 1% of the market. The calculable earnings can, therefore, be calculated supported this p.c. On the average, we estimate that one player will bet 2.5$ and one game session between 2 players will have a joint bet amount of 5$. On average, a player plays three games per vice session. Our provision in each game session is 10% or 5% if the players are using our token iBET.Based on these figures we estimate: An annual market volume of 280 million challenges average platform transaction fee of 0.25$ per single challenge
TOTAL annual fee income of $105 million based on the average between both fee amounts, 5%, and 10%.
BUSINESS PROFITABILITY
Based on current player count information, we have predicted our potential earnings in the first year of operations. Since info regarding player count for each game isn't clear and visual to the general public, the actual results can be higher or lower. The model may be a sample calculation that's supported public info on that the supply is often listed. Since the numbers don't seem to be official, the calculations should not be considered as information for an investment in tokens or a solicitation to buy tokens.
The vice corporations don't enable insights of their player base by default, but some of the numbers can be found on sources like Steam Charts and Steam Spy, which apply to PC games only. That means that the numbers across all platforms area unit abundant higher.
The Statistics Portal has published a number of player bases for different games in August of 2017, listed below.LOL 100 million Hearthstone 23.9 million Fortnite 45 million (Source: Epic Games, 2018) FIFA 18 12.3 million PUBG 6.8 million data 2 12.6 million Starcraft 2 2.4 million

For more info

BOUNTYOX Username: @cryptounique
submitted by 1loveone to u/1loveone [link] [comments]

Ark Vision by @grexx

42letters everytime I tell someone about ARK, the first things they ask are: how does it compare to the interledger?
and "isn't blocknet doing that?"
do any devs in here know the answers to these questions? (edited)
grexx There's like 30 fucking esports betting tokens but not one actual game using a token for in game currency since that crap card game like 3 years ago... spells of genesis or whatever it was...
Blockchain makes more sense for gaming than anything. You can build a real world economy and eliminate cheating / players artificial finding ways to give their accounts codes because it's all secured by blockchain.
seems like we would see more indie gaming companies testing the waters with ICO's and token/blockchain use
kfro are there any big game publishers on the case?
grexx @42letters Interledger and Blocknet, as well as most others in the space have completely focused on allowing cross chain token transfer like a decentralized exchange or a shapeshift clone. While that is one possible use case for SmartBridge, it is only the beginning.
42letters thank you @grexx
may I ask for your background and/or relationship to the project?
grexx ARK has 2 major focuses. First, allowing people to easily deploy their own blockchains for whatever purpose they need them for. Making it easier than deploying a SQL database or ordering a pizza.
That is phase one. Being the easiest to deploy and work with blockchain tech on the market with a solid consensus mechanism (our DPoS).
Phase 2 involves full, 2 way communication of not just tokens, but information between blockchains the same way you would use traditional databases. Tokens are just one possible store of information, there are many other things you can do when the blockchains speak the same language and can truly communicate and cross data between one another.
piepie how would this be achievable with current blockchains that aren't based on ark?
grexx We make it super easy to deploy and work and then market to developers and projects looking for blockchain and then once ARKchains are deployed in handfuls of projects, we start discussing ways in which we can share and inter-operate on a level that hasn't been accomplished yet.
Current blockchains not based on ARK would require a hard fork in most cases to be fully compatible, as we have discussed before. But we have already been working on ways around that to do some pretty interesting things without full implementation of SmartBridge.
ARK was originally created because we had ideas for 7-8 specific services we wanted to build for blockchain but we wanted them to be able to communicate between one another and utilize one token for a plethora of services. Lisk couldn't accommodate that functionality so we decided to build it ourselves. Then we realized it could be something a lot bigger than just our 7-8 blockchain services we were considering and we moved our focus to building the platform itself. We still fully intend, once the platform is complete, to develop a handful of core services working on SmartBridge ourselves.
But all of that is for a later date and time.
For now, many of those things need to stay under wraps
jakethepanda I didn't know the @grexx AMA started.
grexx @42letters I'm a board member and creative / strategic adviser I guess you would say. Founding member of Crypti along with Mike, the pre-cursor to Lisk.
Been in blockchain for a while, done some things, have some ideas. You know, just like everyone else in the space.. :joy:
@jakethepanda We are going to try and get our first live stream with DJ, Canna, and I scheduled soon to talk to everyone and answer questions.
goldenpepe Where do the encoded listeners come in if other chains don't hard fork?
grexx Encoded listeners can work with both SmartBridge compatible and non-smartbridge chains and are essentially isolated programs.
They can be coded to do all kinds of things.
If a specific chain that isn't an ARKchain passes a certain type of information, there is no reason we can siphon / read that transactions information and use it to our advantage.
We just can't encode the actual transaction and information being passed in our own proprietary way.
So we can't influence what is being passed or the way it is being passed, but we can still code specific mechanisms to react to the way the chain itself functions.
This is easy with something like Eth where you can do all kinds of things already. For Bitcoin, well Bitcoin really is just a value store with financial transactions so transfer of tokens is mostly what you would be concerned with anyways.
If any of that makes sense.
goldenpepe so an encoded listener is just some off-chain bot that watches different chains and is programmed to do certain things? (edited)
grexx That is part of it. However, I won't go into more detail for now and it will have to wait until we are ready to discuss it more in depth.
grexx Alright, I think I've said enough, I'm going to shut up before I end up getting in trouble. :joy:
plus my son is yelling at me to find him clothes.
hylex hi, can someone link me to the video @dr10 did promoting ark?
grexx https://www.youtube.com/watch?v=CgD4WqHJFtU YouTube Dr10 ARK for BEGINNERS (subtitled)
hylex thanks : )
hylex really good video :+1:
42letters do any of the devs visit this slack?
might seem like a silly question in hindsight
grexx our whole team is on Slack but we keep @fixcrypt locked in a closet and only let him out on special occasions... :joy:
Several of those who are usually really active here are traveling to HACKUC which we are sponsoring and then from there to another event we are headline sponsor for
but if you have a question specifically development related, you are more likely to catch them in #development
42letters i have one more question (for now). would you place Bancor in the same basket as interledger? you mentioned earlier how token exchange is only one aspect of Ark's functionality. in respect of this, would you consider Bancor as only fulfilling this aspect, or does it compete with Ark in any broader way?
grexx Bancor, like many other projects currently being built, focuses pretty much exclusively on the ETH ERC20 ecosystem and trading & liquidity mechanisms within that ETH ecosystem.
Until ETH fixes it's scaling issues and tx volume issues, I don't believe that is a great model. ETH right now can't even handle the volume from 1 hot crowdsale, how will they facilitate volume from all of those ERC20 tokens if they end up being hugely popular and each having millions of transactions happening all of the time?
grexx Everyone is building out this infrastructure for trading these ERC20 tokens but that's not our goal.
We are facilitating companies and projects that want their own dedicated blockchain.
not just a token
42letters thanks @grexx
grexx We aren't loading up the ARK main network with ass tons of useless speculative trading volume from thousands of tokens for projects that will never amount to a bag of dicks.
If that clears it up, lol.
42letters what are your thoughts on Eth switching to dPoS this year? won't this solve tx time issue (to some extent)?
grexx No. First, they may or may not transition to PoS at some point in the future.
There is going to be a large fight that happens when the time comes.
I'm not certain it won't end up causing another fork to even get it implemented.
A lot of mining power has moved to ETH.
42letters i think if it causes another significant fork, ETH will be in some trouble
grexx ETH is a hot mess.
This is exactly what most people predicted though before they even launched.
42letters however, if it does move to PoS, how does it position itself compared to Ark in terms of speed time?
grexx It's too much on one blockchain, too much bloat, too much room for error requiring all the nodes to execute contracts on the main chain and with untested code.
There are plenty of blockchains out there functioning on PoS consensus mechanisms.
They can be all different ranges of block times.
The issue isn't block times, its TPS.
They are trying to do too much on one network right now that just can't scale with the demand for these ICO's.
Which ends up halting anyone from doing ANYTHING on the network.
Think about this. If ETH right now were a global payment system and all of your money was in ETH and you used it to pay for your rent, lunch, groceries, ATT bill, etc.
Every time there is an active ICO, you can't buy coffee, groceries, gas, or anything for 3 days.
It's a fundamental problem.
42letters can the Ark mainnet handle the scale of these ICos? i guess I'm asking how is Ark handling the possibility of bloat on its network if it become ubiquitous
grexx people are ignoring it and assuming Vitalik will solve the problem through a combination of PoS, Sharding, or some other magical method.
The ARK main net would never try.
We would build a secondary blockchain that would process ICO's and be a token chain that could then implement a master node structure and maintain 5-6 sub networks that would load share and use SmartBridge to gain cross-chain transaction consensus.
42letters Oh, I think I'm seeing the broader picture here
Because of Smartbridge, you can have sidechains process load heavy transactions and then have them connect/communicate with the mainnet via these listening nodes (or whatever you called them earlier)
Is that the gist?
grexx That's the idea. There is a lot more to it and making it work but that's the ultimate goal.
42letters Smartbridge is the central tech here
grexx Every application or service we want to work with ARK would be built as it's own chain that would be able to accept ARK or cross-communicate, but the majority of the heavy loading would be done by the subchains.
The ARK mainnet will be focused 100% on maximizing tx volume and TPS of the core ARK token.
then we replicate that and add in additional functions and features for what we need the subchain to do.
all will be push button deployable and open source to encourage thousands of implementations for anything your can dream up.
42letters that's an incredible value proposition. i hope it's feasible haha
grexx It's not going to be easy to build and it will take time, but it is feasible.
42letters I wish I was a developer so I could help
grexx We have something like $30 million in assets, an amazing open source community and new developers tinkering around with the code all the time, and a core team of over 20 members who are all still here busting their ass daily.
I like our chances.
42letters yes the community is very promising
grexx The whole industry is an experiment and could collapse at any moment with one major flaw or issue in bitcoin or ethereum, but for now, it's a hell of a lot of fun to be a part of.
42letters if eth and btc collapse, wouldn't something like ark bring the markets resurgence with its proposed fixes?
grexx There is too much money in BTC and ETH.
If either one were to completely collapse, it would take the industry years to rebound if it ever even could.
42letters i see what you mean
the finances would dry up and halt many projects
grexx The investors would flee back to Gold, Stocks, FIAT, development funds would dry up, interest would wane, and the market would screech to a halt.
Like it or not, we need them both.
It has to be a slow steady decline and transition to new tech like it has been with Eth taking market share from Bitcoin.
42letters yea
grexx Over time, I think the market share will spread between a lot of projects until we don't even think about anyone being truly dominate but all necessary for the ecosystem to exist.
42letters i hope so
grexx Alright, I am leaving for real this time. I still have family in town for the rest of this week, just wanted to jump on since we are a little thin right now with a lot of our guys traveling.
submitted by Jarunik to ArkEcosystem [link] [comments]

Luckbox Press Releases

Where it all started
 
Lars Lien and Mike Stevens had the opportunity to take an important part in the early stages of PokerStars development to make it what it is today. Together they have more than 25 years of experience in the iGaming field, working for world-leading brands. They know the inside-outs of the industry and the challenges to take on to make of Luckbox, their innovative project, a winner on the long run.
 
“There’s a lot of negativity around ICOs after several scams and, from the outset, we’ve done our utmost to distance ourselves from these. One of the aims of the double token structure is to show people who support us how much we value their contribution and give them chance to share our success going forward.” - Lars Lien - Luckbox CEO and Co-Founder.
 
“Do the right thing and you will reap the benefit, I want to create something that I want to use. You don’t need big margins.” - Lars Lien - Luckbox CEO and Co-Founder.
 
Interviews of Luckbox's CEO and Co-Founder: Lars Lien
 
"We’ve had some fantastic support thus far - not just by way of contributions, but advice too - and we’re so grateful for that."
 
"Luckbox is an esports betting platform and casino focused on operating with transparency, accountability, and responsibility,”
 
"Competitive gaming is deeply ingrained into who I am, being an obsessive gamer since childhood, organizing LANs, competing in StarCraft events across Europe, before landing a job at Sony Online Entertainment as Lead Game Master for EverQuest & Star Wars Galaxies."
 
Engage your community from day one. Form great partnerships. Stand apart from the crowd. Time it right.
 
Luckbox's approach on regulation or esports betting done right!
 
“Many illegal sites have already been closed down and it is only a matter of time before the authorities are caught up with...” - Lars Lien - Luckbox's CEO and Co-Founder -
 
"At Luckbox we believe we have the sports industry knowledge to bring a level of trust to our own users, and there are signs that Valve may be open to working to eradicate this issue as well, which can only improve things going forward."
 
"Part two of the interview will follow next week..."
 
Discover our esports news section
 
"The reward for this is the chance for those of us who like to bet on CS:Go to have the sort of scene football enjoys today, and all the benefits that come with that."
 
"Ah, the Premier League transfer window..."
 
Our Online Press and Blogs
 
submitted by FelixCHA to luckbox [link] [comments]

The potential of Peerplays. Warning: Shill inside

Hi all,
I don’t see Peerplays mentioned here very often, but for multiple reasons I think that it will be the most successful crypto platform for gambling/gaming. To all of those who don’t like people shilling their own tokens, I would say this post isn’t for you. I will be taking a pro-Peerplays viewpoint in this article with the purpose of spreading knowledge about this project that has flown under the radar for the most part since its inception. (Disclaimer: in case you can’t tell, I do own ppy tokens)
What is Peerplays?
Why does Peerplays need to be decentralized?
What does the core token, ppy, do? Why should I hold it?
Why is Peerplays more fit for mass adoption than other projects?
Wait, you can bet in bitcoin? Doesn’t this mess up the profit sharing mechanism?
I know this is a shameless shill, but I think that there is just too much to like about this project and the team behind it to stay silent. Peerplays only has a $15 million market cap, so it is still extremely early to jump on the train. Welcome aboard! Feel free to correct anything I said that may be misleading/incorrect, and you can dm me as well with any questions!
Edit: I think it important to note a main reason why the project has flown under the radar and hasn’t increased in value since its ico. It is currently fairly hard to get any ppy due to the lack of exchanges that list it. Few exchanges have picked it up since regulations have been increasing on the big exchanges like bittrex etc... The only real way to acquire ppy is through the bitshares exchange, which doesn’t have a lot of volume. I think that this should be largely mitigated once ppy is available for purchase on the internal exchange when bookie is released, but a concern nonetheless that has been a large barrier to entry for the average crypto enthusiast.
submitted by ImABitcoinWhore to CryptoCurrency [link] [comments]

A local gamingnetwork had an in-depht interview with the Belgium gamblecommision(Kansspelcommissie).

A local gamingnetwork 4gamers.be had an in depth Interview with the Belgium Kansspelcommisie (gamblecommision/game of chance commission(that's the literal translation))
The interview
The Interview goes overthe reasoning why and how the commision is going over the investigation regarding lootboxes.
This translation is translated by me a student, errors will be present.
Translation
Question:Why did the KansspelCommissie (just) now came forward with the announcement where it states that it will investigate both SWBF2 and Overwatcht concering the use of loot boxes? A lot of games with lootboxes are already available.
Peter Naessens: The "Kansspelcommisie" didn't activly approach the media. The media came to the "Kansspelcommisie" with question regarding the mentioned games. The elements that they presented justified an investigation, that will start with a blanc sheet, but from a long-standing concern for social games. In this way Public concern doesn't holt any accusation, but some indications that an investigation is needed because it threatens to go to far. In the past we already dit something similar with the game "Game of War". But it doesn't revolve around a large sum lost by a minor, but the amount of young people indicating that a problem is present.
First we will investigate the games, after that we will look if the conclusions could be extended to other games. At this moment other games that could give problems are being reported to the commision.
Question:Is the investigation only about mentioned games or will those serve as a guide for investigation regarding games with similar mechanisms?
Peter Naessens: This is the legal Belgian definition of a "kansspel"(game of chance): "Every game or bet, where the bet regardless of nature, that results in:
////note from translator: This is a very liberal translation due to the way the definition is worded in dutch.
The three elements - bet, gain, or loss - must be cumulative present to be classified as "Kansspel"(game of chance). The definition of "Kansspellen" covers a giant plethera. The content of the lootboxes is well tought-out composed by the organiser of the game and may or may not influence the flow of the game. They note themselves that the contect of the lootboxes is random(with a non clarified randomness) and percentages on impact will be provided (which indicates randomness). Because money is needed to recieve lootboxes(bet) and the posibility for gain/profit (high-value item in the lootbox) or loss (low-value item) and the unknown nature of the incorporated randomness, could means we're working with a "kansspel"(game of chance). Note, the online discussion on this topic is very active, but we have to further investigate how it precisely works, and then there are the derivatives of the system:
Simpy said: Are these 2 games a "Kansspel"(game of chance), a game with elements of chance or simply a game? If it is a game we will not interfere, if it is a "kansspel"(game of chance) then it should become prohibited for minors, if it is a game with elements of chance then we need to determine of the current legislation provides answers to this.
(Still updating)
Question:Is there looking from the gambling perspective a difference between the use of lootboxes for cosmetical items(like skins and emotes) and lootboxes that provide gameplay-elements(stronger characters or better weapons)?
Peter Naessens:That remains to be seen. Article 2.1 from the "kansspelwet"(game of chance Law) determines that a "kansspel" is :(insert previous definition of kansspel)(same exact alinea as definition). Above that a bet is enough for the law to classifie it(there doesn't even has to be a reward necessarily). That presents a challange and maybe a new type of license, because a prohibition could cause a very big impact on the gaming idustrie. The fact that progression can be made in game is an extra stimulance to buy an in game purchase. Especially on minors they are pretty sensitive to performance pressure and want to excel in videogames. Also this in social psychology points out the same currency behavior between minors and adults and that minors tend to mirror this behavior. But where adults own a larger pallet (hobby,money,job,car,...) minors tend to have a lower possibility to score socialy. We therefore argue that parents intervene in this, for example to explaint the difference between chance and skill, instead of playing along every game individualy. Qua "kansspellen" we want to provide a classification that explains the dangers of the game.
Gamers tend to start gaming early(6-8 years old) en will continue into their 30's. Minors are more affected by biases. Likewise the mirror reflex is clearly present, so the perks become very importent. Without them having a good insight in why the perks attract them(original text talks about stat modifiers/exp bonusses). this can cause a downward spiral due to the increased rate of gain, giving more satisfaction.
Thus seen the impact both online and the chance element a regulatory framework and clear interventions are needed to prevent that minors postpone a work and study mentality and literaly/figurativly place their future on stake on a game where chance determince the result. The element of gameplay elements could be even bigger on the psychology of vulnerable people, but cosmetic only items could also be problematic.
Question:From that standpoint, is there a difference between free games(f2p games) that implement similar practices and games where you pay for the game itself and recieve free in-game lootboxes?
Peter Naessens:There's with payed versions(lootboxes) clearly a case of a financial bet, but we can't be blind for the fact that technologie also intervenes in (ingame) paymentmethods. Minors are gonna give a monetary value to virtual items and use those to trade. This is for us a bigger challange compared to Bitcoin, (The virtual currency where adults think of like ingame items).
Question:In other words: It's harder than it looks because of the fact that people also use/trade ingame items as payment?
Peter Naessens:Yes, indeed.
Question: What's the difference between een "kansspel" and a game with chance elements? Could you maybe provide an example of both?
Peter Naessens:A "Kansspel" is for example poker. A game with a chance-element is "social-poker". One pays to play social poker, but doesn't win any money. A normal game without chance-elements completly revolves around skill, same as tetris(versus) where both players play simultaniously and recieve the same blocks.
Question:The UK already took a look at this matter but concluded that it isn't gambling. Could the "kansspelcommisie" provide a different conclusion/rating?
Peter Naessens: We are not bound to the reactions from the UK. Some Critisism is already published on their conclusion by a well known gambling professor (Griffiths).
Question:Is the commisions respons a binding recomendation for which the government has to issue guidlines around?
Peter Naessens:No, the "kansspelcommisie" does not have any legal personality(no influence on legal matters), it does not deliver binding advice, nor has to ask advice from us. But we're autonomous to set up a legal battle against illegal "kansspellen", including it consequences
Question:Could fines be wroten down, the ones that were mentioned in VTM Nieuws
Peter Naessens:Everyone who illegaly distributes a "kansspel" is up for legal battle. a small legal battle suffices. A player could recieve a fine, but he has to have the prerecognition that he is playing an illegal game. That's why this commision has to create some clarity in this situation.
Question:What would be the impact be if a game would be labeld as a "kansspel"? Would the games be removed from the local market?(what about local channels?), does this change the rating to 18+
Peter Naessens:The illegale exploitation of "kansspelen" is illegal in belgium and will effectivly be prosecuted and punished. Illegal items will be confiscated. Online websites will be blocked. The rating is 18+ for bets, 21+ if it is any other form of "kansspel".
Peter Naessens:Actually this is a new era. The question is wether the legal framework is adaptable to these games and/or a new type of license is needed to protect minors and parrents.
Question:Assuming that this could be gambling, do publishers and developers request licenses en how would there be any control on this?
Peter Naessens: If there would be a new licence, these could be adapted to the specific characteristics of a game world, including regards to control and protect options. However, a license must be obtained from the "kansspelcommisie" so we can know no criminals are developing these games. also there muste be some measures taken to prevent gambling addiction.
As Indicated, we are not satisfied with only providing alerts against gambling. We can't ask parents to sit next to their children while they are playing. We want to indicate which games are prohibited for minors because they allow minors to play slot machine games to win a game. As long as I see my 7year old playing slot machine games I know our work isn't finished.
The "kansspelcommisie"" is of the judgment that they must warn the public for potential dangers of lootboxes. But we want to do this from the expertise we gained from older "kansspelen", hence one of our engineers recieved an order to release his expertise on"kansspelen" on Overwatch. We will focus on one game to draw conclusions from it.
A new game license would be a good solutions. so rules and regulations could be tailored to new games. some specific games with gamblingaddiction risk could be restricted of the licenses. Now they're all pilled in the same category.
Question:Is there from your position any known fact of this subject is talked about at the ueropean parliament or the european commision?
Peter Naessens: We've already have given some presentations in for the european commision. The UK is working on it, same goes for the Netherlands. For the European commision gambling is no priority. Maybe they see it as a case of e-commerce and want to keep the responsibility with the parents.
Question:If current would be investigated, do you have some possible indication when a result would be available?
Peter Naessens:The Dutch "Kansspelautoriteit" works with 80 employees. in Denmark(half the population of belgium (around 5.5milion))works with more than 70 employees. in the Uk this is 300 employees. We have freed some time for one engineer to research, but for the meantime we still have to buy the first gameconsole. Just technical information of the game will not suffice. For the meantime we will have to do with the expertise previously acquired to apply this on these games. Idealistic we could round this investigation up on the end of the year, but I don't know if we will catch up to the deadline. But we will see if we will send some explicite warnings regarding these games.
(the end)
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Grayscale Says Bitcoin ETF Only a Matter of Time

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