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2020-04-28 15:45:02+00:00
DAO
Ten percent of the network’s mining goes to the DAO address, which is managed by Minter Development Foundation (a U.S.-based charitable organization). It is these funds that will be used to sponsor:
– promo,
– development,
– liquidity enhancement,
– legal assistance,
and many other types of activity aimed at increasing the network’s value in general. First and foremost, the DAO‘s mission is to popularize the blockchain itself and show what it can do. Unlike many other networks who do not have grant budgets, we offer a unique opportunity to the most out-of-the-box ideas and experiments that would otherwise not receive funding from commercial structures.
As of today, DAO owns over 200 million BIP and is the largest coin holder on the network.
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2020-04-27 15:49:01+00:00
Minter-Powered BTC
Many of you may have noticed that last Thursday, the BTC coin was issued on the network. It’s a “dummy coin” with minimal reserves that can’t be bought or destroyed—it’s backed by 10,000 BIP, while initial supply matches the maximum one.
Such coins are similar to ERC-20 tokens on the Ethereum network, with the only difference being that in our user-friendly environment, the throughput is considerably higher, and transaction fees do not exceed 1/100th of a cent. Plus, all transactions are final in five seconds.
With this coin rolled out, we are one step closer to a fully-fledged DeFi ecosystem. In it, MinterVault will store the top 10 cryptocurrencies for each Mainnet address, mirroring activity that’s happening on the actual chains. Once the MinterVault multisig is released, it will take control over the entire BTC supply, which will be first transferred there.
We can say with great confidence that by the end of this year, you’ll already be able to multi-send Bitcoin to hundreds of receivers in five seconds, spending no more than a couple of cents in total. The case is quite simple: if the user needs a wallet that’s fast and easy to use & understand, they install any of those available on Minter and create their main address, at the same time activating tens of others, such as BTC, ETH, and XRP. From there, the user can not only operate those coins within Minter but also transfer them to the “outer world,” that is, the original networks.
For now, let’s not talk about how we’ll ensure the exchangeability between BIP, customs, algocoins, and cryptocurrencies of other blockchains. But one thing is for sure: even your grandma will find it convenient and clear.
DeFi goes mainstream!
Example of a transfer of 1 Satoshi @ 1/100th of a cent in 5 sec.
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2020-04-24 17:17:34+00:00
And we have the winners of the #howtobuybip contest!
🥇st place (150,000 BIP): https://www.youtube.com/watch?v=kXRZtIXSII4&feature=youtu.be
🥈nd place (100,000 BIP): https://www.youtube.com/watch?v=yf0Zb6ElpS4&feature=youtu.be
🥉rd place (50,000 BIP): https://www.youtube.com/watch?v=nZGCRj7IQtY
The special prizes of 10,000 BIP each go to:
▫️https://www.youtube.com/watch?v=X6UF0ZOo27o&feature=youtu.be
▫️https://www.youtube.com/watch?v=RQ2bTi9nHk4&feature=youtu.be
▫️https://www.youtube.com/watch?v=km6SKbAnHzY&feature=youtu.be
We want to say thanks to all participants! There were many decent works, and it was really hard to choose the best ones. Please continue sharing your videos: we must join forces for the promotion of our network if we are set to reach even greater heights.
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2020-04-23 21:57:07+00:00
Algocoins
As soon as within 30 days, algorithmic stablecoins—those that can be pegged to any asset out there—will go live on Minter 1. They will be backed by BIP reserves and therefore liquid across the entire network. You will be able to buy and sell any amount, with the prices recalculated once every minute.
Several teams are already working on implementation, ensuring stability against BTC, ETH, USD, RUB, and bonds of a large gas company. You should understand that the key difference between algorithmic and collateralized coins is that in terms of price, the algocoin is tied to the asset at a 1-to-1 ratio but, at the same time, is not backed by it. Thus, they are not considered financial instruments and require no regulation. Their only job is to be priced at the same level as the original and make operations convenient for the user.
The very “stability” argument is debatable as, for example, the U.S. dollar may be stable for Americans yet absolutely volatile for Europeans who need to make constant calculations and predictions. We prefer to call them algocoins.
Algocoins will be launched on the main network and initially managed by the off-chain stabilizers. With the introduction of MinterEVM, they will switch to decentralized and, what’s especially important, entirely transparent management mechanisms.
Speed of stabilization: every five seconds. We’ll be the first of our kind in the world!
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2020-04-23 19:27:45+00:00
🧠 The CHEllenge
Evgeny Gordeev challenged all Minter fans to give advice on the network development and is ready to award up to 1M BIP if the idea can show visible results in three months.
How to Receive a Grant
• Outline your idea in a Google Doc
• Lead a public discussion within the community
• Win a vote among the network’s staking wallets (more than 25 percent of the voters must support the idea)
• Pass legal verification and KYC/AML check & sign an agreement
Once the author gets the first portion of the grant through the guarantor, they can go on to implement their idea. Decisions on the next installments will be made based upon weekly progress reports.
If the idea is successfully implemented, the author will receive the full amount.
Challenge Hashtag — #che
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2020-04-21 17:17:03+00:00
Voting for the winner of the Subscriptions Hackathon’s Audience Choice Award starts now! Visit 🍃 Minterscan to support your favorite project.
https://minterscan.net/vote
▪️Only verified addresses can vote
▪️You can vote for several projects (but no more than once)
▪️To cast a vote, send any amount of COIN to your own wallet and indicate the project’s number (which you can find at the link above) in the message to the transaction.
#vote
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2020-04-20 19:35:30+00:00
#MinterPush 0.2—Rewards Hackathon: Subscriptions. Results
🥇st place (300K BIP): UNU.push
This service allows you to quickly and easily set different tasks for popular platforms (Telegram, VK, Twitch, YouTube, Vimeo). Plus, users don’t need to make any integrations.
🥈nd place (200K BIP): Minter YYY Cashback
A plugin for the most widely used CMS, WordPress. With it, you can reward your customers and subscribers as well as integrate with YYY and WooCommerce.
An interesting option for the eCommerce segment. We suggest adding support for a wider range of CMS and eCommerce platforms.
🥉rd place (100K BIP): YYY
A browser extension: once the user’s installed it, they can continue surfing YouTube channels, Twitch streams, websites, and search engines they’re used to while receiving rewards for various actions. On the reward distributor’s side, there’s an admin panel with campaign settings and analytics.
🏅 (50K BIP): TapForms
A tool for creating forms (an alternative to Google Forms and Typeform) with the ability to use pushes to reward users for filling them out. It’s a good choice for surveys, reviews, questionnaires, feedback submissions, and other applications. The product comes with strong protection against cheating (tracking of IP and Fingerprint of a browser/device).
🏅 (50K BIP): Dice Time
A bot-powered loyalty system for Telegram chats. After you add it, the bot starts responding to certain commands sent to the chat, for example, "dice time" (the bot makes a throw for that user and rewards them if the resulting number is >1). There’s also a reputation system (newcomers get less in rewards than active old-timers), top-up with custom coins, limits, time intervals for games, and other settings.
🏅 (50K BIP): BIP+
Lets you set up reward campaigns through wallet’s business profile. At this stage, rewards are available for joining a channel/group on Telegram (API, CRM, YouTube, etc. are in progress). Campaign creators can track stats, top up the balance, and edit the campaign itself.
Winners to receive NUT will be selected by a public vote on minterscan.net. Please wait for the announcement.
#minterpush #rewards
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2020-04-17 20:05:18+00:00
United Stablecoins Dollar
Today, it’s hard to say which of the digitized dollars deserves our trust. That’s why on Minter 2, a single super dollar will be launched that will represent a basket of Ethereum-based stablecoins—USDT, USDC, DAI, etc. Nobody can predict the direction of the market over the next few years or what will happen to each of the coins, so it’s better to gather them all in one place so that if one of them starts moving downward, we’ll have maximum protection in general. Five coins will be selected, and their share in a basket will be limited to 20% max. each so that if one of them starts dominating over the others, its value will decrease. Such a defense mechanism would allow us to minimize the consequences in case any of the stablecoins defaults—first, the rate at which they’re added will drop, and then, they won’t be added at all.
Besides, the approach mentioned above will benefit everyone: if you have something on the Ethereum network right now, you’ll be able to lock your coins in a smart contract and get a super buck. For those who get it, it’s, in essence, Uniswap from stablecoins on the Ethereum side with the lock for coin issuance on Minter 2.
The super dollar’s smart contract itself will be written at a hackathon to ensure transparency, and after the community vote, accepted and launched on Ethereum. Its integration into Minter API will then start, followed by instant liquidity of any Minter coin in terms of U.S. dollars and vice versa.
Do you want the most stable, fastest, and most reliable dollar in the world? It’s coming soon.
And, of course, you will also have the opportunity to buy and sell it with any crypto/fiat currency via Minter Global in a legally compliant manner.
#Minter2
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2020-04-16 13:14:34+00:00
Minter Global is starting the first #howtobuybip contest! Fill out the form to participate in it.
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2020-04-15 18:34:42+00:00
Association responsibility
Today, the association participants have solved two important problems.
1) The decision-making mechanism has been approved:
- Each liquidity provider will be given 1 vote regardless of the number of project representatives that are members of the association;
- The decision is considered to be made if 2/3+ votes of the total number of participants with voting rights are given for it.
2) The list of responsibilities of the association has been approved:
- Admission and exclusion of association members;
- Appointment of guarantors;
- Creation of mechanisms to ensure liquidity;
- Development of measures to stabilize the BIP price;
- Formation of insurance fund;
- Detection and prevention of fraudulent operations;
- Approval of criteria by which a transaction will be recognized as fraudulent;
- Collection and publication of statistics on trading volumes;
- Distribution of grants without affecting the BIP price;
- Establishment of a developer support mechanism;
- Providing legal support to the association members;
- Advertising of projects.
And good news:
The market has already had a positive response to the news about the establishment of the association, as a result of which the volume of BIP purchases has increased significantly and the price has stabilized at a level even slightly above the minimum established values.
Three services joined the initial list:
- ex.minter.su
#Minter_IOMA
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2020-04-15 15:42:49+00:00
Preparing to launch Minter IOMA
The initiative group, which includes representatives of liquidity providers and large Minter traders, made a joint decision to create the Minter Internet of Money Association.
The purpose of the association:
To create conditions contribute to development of the Minter network, under which the interests of all parties will be protected.
The main objectives of the association:
- Support liquidity providers;
- Set standards and form transparent rules;
- Prevent manipulation and fraudulent activities;
- Promote increased liquidity and price stability in the Minter network.
First of all, the BIP price stabilization plan was developed, which includes the following measures:
1. Limit the minimum selling price of BIP at $0.015.
2. Keeping the difference between the minimum sale and purchase price within 10%.
3. The proposed measures are mandatory for all liquidity providers in the association.
It is necessary to stabilize the BIP price so that developers and validators, who incur expenses every day, could ensure quality work of the network and develop projects.
The list of services and traders who supported the initiative:
- bip.plus
- bipex.net
- minter.1001btc.com
- kitmoon.com
- bip-exchange.com
- ex-bip.com
- cash-transfers.com
- @Juboer
#Minter_IOMA
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2020-04-14 11:30:32+00:00
Minter Global OÜ will concentrate its efforts on the following crucial aspects of the Minter ecosystem:
1. Listing. MG will represent the Minter community in negotiations with exchanges.
2. Broking. MG will facilitate buying and selling BIP, both for fiat money and virtual currencies.
3. Escrow. MG will provide escrow services for validated participants
4. Global stablecoin. MG will explore the regulatory landscape to assess development a fully compliant stablecoin, collateralized by money-like assets.
5. Community stablecoins. MG plans to conduct hackathons for creation alternative community-based stablecoins.
6. Exchange. MG is working on development of a fully compliant decentralized exchange platform.
7. Card. MG plans to partner with banks and EMIs to issue virtual cards tied to BIP balances.
8. IMO. MG is developing a solution for development teams to distribute their coins among selected participants.
9. Support. MG will provide grants to community members for promotion and adoption of BIP and coins.
Additional information can be found at the minter.global website. You can contact Minter Global via email at contact@minter.global
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2020-04-14 08:10:00+00:00
Starting this day, April 14, all the matters related to orderly trading of BIP will be handled by the Association. The Association will use its infrastructure to coordinate the individual liquidity providers with the goal of establishing a common rules for management and support of price of BIP.
Emergence of the Association is an important achievement of the Minter community. Association is a separate entity and is not related to the Minter development team. The Minter development team and its affiliates will withdraw themselves from any matters related to BIP trading, and will concentrate their efforts on the technological side of the Minter ecosystem. The team will not further participate in discussions of the price of BIP.
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2020-04-12 21:03:32+00:00
New Addresses of DAO and the Team
With the transition to a new Mainnet, addresses to which DAO and the team receive their commission fees of 10% each have changed. Now they are multi-signature:
– DAO: https://minterscan.net/address/Mx7f0fc21d932f38ca9444f61703174569066cfa50
– The team: https://minterscan.net/address/Mx688568d9d70c57e71d0b9de6480afb0d317f885c
We kindly ask all information services to update their data.
P.S. The team has already delegated its first 15 million BIP to Validator.Center as part of a program aimed to support significant participants of the network: https://t.me/minter_alert/16963
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2020-04-11 20:00:06+00:00
If you’re a developer and want to stay updated on all the changes we make to our code, follow t.me/minterdev_en
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2020-04-11 18:42:08+00:00
Updated Price
https://bip.dev/
1 BTC can buy you now up to 226 567 BIP, that's a +11% bonus to current price.
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2020-04-11 18:33:03+00:00
Tendermint Security Update
At 2:00 p.m. UTC Thursday, the Tendermint developer team released an unscheduled update to resolve several issues in the operation of nodes. Prior to that, nodes—as well as validators—had been vulnerable to DoS attacks.
In less than 30 minutes, we rolled out a node update v1.1.7, which uses Tendermint’s latest release with all security fixes.
We highly recommend that all owners of Minter nodes update their software.
https://github.com/MinterTeam/minter-go-node/releases/tag/v1.1.7
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2020-04-11 15:36:28+00:00
Liquidity Providers Association
As a result of consultations with the liquidity providers, we outlined the following steps that would allow us to develop the market properly:
1. An association of liquidity providers will be established. Exchange platforms and services, brokerages, and large traders will be eligible to join
2. Work on the blocking of scammers’ funds, formation of a unified price, and information disclosure will be a top priority
3. On its part, MDF will allocate 10–30 million BIP per annum for the association’s development. The payments will be made on a monthly basis in the form of grants and will depend on trading volumes
It is obvious that collective, systematic work will have a positive impact on the market, and for that, members should make considerable earnings. For example, by being compensated for commission fee losses.
It will not be difficult to check whether a particular member complies with the association’s rules, and in case they do not, they will be expelled. So potential violators will be faced with a choice between stable operation and huge momentary gains.
Liquidity will be supplied to all members through a single multi-signature address with the ability to request any amount at any point.
Minter Global OÜ (@howtobuybip) will act as a founding member and initial organizer.
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2020-04-09 17:06:07+00:00
#MinterPush 0.2: Rewards Hackathon. Subscriptions
You have until April 15 to make a perfect system of rewards for subscription/registration. The user subscribes via Telegram bot or YouTube channel, on the website via e-mail or in the app via mobile number, and gets #MinterPush with the coin they can spend inside the project, exchange, transfer, and so on.
Scenarios mentioned above are just examples, and everyone is welcome to pick their niche. Still, the logic is simple: the user subscribes/signs up and receives a reward from the project. Channels, bots, groups, sites, apps—whichever you like. It goes without saying that protection against cheaters, fake users, and hackers is a must.
As you understand, anyone can already implement this solution simply by connecting one of the existing push services as a rewards container. So we are likely to see many new teams in this hackathon. Good statistics, visually attractive and understandable, would be a plus.
Products must be easy to use, to the point that grannies could add and set them up on their YouTube channels about baking. It’d be even cooler if someone managed to create a full product for organizers: sign up, choose coin settings and reward conditions, deposit BIP for creation and reserves, integrate into the environment where it’s going to be used, and . . . that’s it. You’re all set, and the only thing left is tracking analytics.
Prizes:
1st place: 300,000 BIP + 100,000 NUT
2nd place: 200,000 BIP + 50,000 NUT
3rd place: 100,000 BIP
We will also award another three incentive prizes of 50,000 BIP each.
Total worth: almost 1 million BIP!
These numbers may be increased.
If solutions are similar, the team will prioritize those that cover additional areas of application. So at this stage, it’s important for us to get cool solutions for each of the formats—e-mail, mobile, bots, Telegram & YouTube channels, whatever you may think of.
Don’t lose your focus on the segment that really matters. First, we need to become leaders in rewards across social media, sites & apps, and only then, in “QR codes on cafe receipts.”
You can submit your application here: https://forms.gle/CnNgc6ZwotsiVKDeA. Provide a description, fully working product, use case(s), and link to code on GitHub.
Push Standardization
In this hackathon and the ones to come, we consider push projects with the following features:
The push must be receiving and managing any Minter network-based currency, not only BIP.
The user—both sender and receiver—can view a seed phrase on any of the screens. These funds are theirs, and they must be able to manage them beyond the push as well.
The creator should be able to skip all settings and go to the push page with top-up and spending options right away. If you use pushes often and not for demo only, then the majority of features are not necessary. A big Forward button will be useful to everyone if we want mass cases.
The address of the push must be readily available at the very first step of its creation. It’d be ideal if when you go to the homepage, the URL is already generated there so that nothing gets lost on the way.
If you offer password protection, there should also be a Confirm Password field so that the person doesn’t lose money both for themselves and the receiver because of a typo.
To sum up: multi-currencies, seeds, skipping, instant address, password confirmation.
Have a nice time working, everyone!
#minterpush #rewards
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2020-04-08 19:04:13+00:00
#howtobuybip
E.U.-licensed cryptocurrency broker Minter Global OÜ now has its own Telegram channel: t.me/howtobuybip
The brokerage firm will support and sponsor the following activities:
– Supplying liquidity to providers and exchanges
– Listing-related legal counseling
– Content production: videos, posts, guidelines
– Content promotion
– Broker support for operations conducted by validators and project founders
The team has appointed Minter Global OÜ as a sole representative of its interests.
Website: minter.global
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2020-04-08 01:31:34+00:00
🎉 Over 100,000 daily transactions!
Today marks the first time we had over 100,000 transactions by real users in the past 24 hours. Congratulations to all of us and special thanks to the creators of @MinterWalletBot.
The Ethereum network had kitties, we have dice. Except for Minter didn’t go off-line due to high loads.
At the peak, the blockchain was processing 20–25 transactions in a block (~5 transactions per second).
A 99.82-percent uptime means that only each 56th block takes more than 5 seconds to be generated.
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2020-04-07 11:19:07+00:00
Any project, team or product mentioned in this channel is not to be considered as endorsed or recommended by us; any mention of such projects, teams or products does not constitute an advice. You are solely responsible for verifying the credibility and legality of any such project, team or product.
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2020-04-06 18:10:57+00:00
🏆 BIP on Staking Rewards
BIP has been added to stakingrewards.com, a major resource for staking. Minter’s presence in the catalog is a great opportunity to reach an international audience of users and developers.
About service
• 89 assets
• 95 staking providers
• 148,000 visitors per month according to Similar Web
The placement took place thanks to the efforts of BTC.Secure, Monster Node, MinterPro, ONLY1, Rundax, Vote!, The Node, U-node, Validator.Center, ☯️ Zen, KARAT, MSCAN and GoodPR.
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2020-04-05 09:28:25+00:00
Standing with the Devs
In these difficult times for the world, supporting Minter community’s developers continues to be our top priority. Next week, we will offer the action protocol to enable the top 100 programmers, managers, designers, and marketers to exchange BIP in the easiest way possible, at a price and demand above the market.
How does it work?
Based on data from Minterscan, we will form a list of key persons. So if you have not completed address verification yet, consider doing it now. We will set a monthly limit for each participant, which is expected to be 100, 50, and 25 thousand BIP per person. Those on the list will be able to send amounts within their limit to a multi-signature address managed by the top exchange platforms and services. In the transaction itself, one will have to specify a USDT address for withdrawal. The BIP will be sold at the average market rate calculated using data from all exchanges. It will be the exact average between the buy and sell prices. This way, exchanges will access liquidity in one place, while developers will make exchange operations with minimum effort and slightly higher than the market.
According to our estimates, the daily volume passed through this multisig will amount to 150–200 thousand BIP. Only the most authoritative, community-approved exchanges will manage the address, reaching a consensus on price updates and taking out necessary volumes. To withdraw any amount, an exchange will only have to use its signature. And since all such transactions have a record on the blockchain, we get maximum transparency allowing for the automation of all processes, among other things.
If we were to draw an analogy, it would be farmers bringing their BIPs for sale, and those BIPs then bought by professional market players at a single price without dumping.
To strengthen the model, DAO may give out additional market-making grants to liquidity providers. They would get not only quick access to large volumes but also a bonus for active participation.
This offer is now being discussed with a number of liquidity providers and will soon be finalized.
#LetsMakeDevelopersGreatAgain
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2020-04-02 01:30:16+00:00
Check out what we were up to last month in our latest community update.
https://medium.com/@MinterTeam/minters-month-in-review-march-2020-3dcd0e4cb8bc