Topic: [ANN] Expanse (EXP) - 1st Stable fork of Ethereum (New Algo + PirlGuard) - page 228. (Read 961462 times)

To others who are trying to run the wallet - note you need to first run gexp.exe, and accept the terms and conditions.
then run the wallet and click new account. (took me a few attempts to work this out) 

There is a version for Windows at the Expanse official website.  Just click on my signature.   


-tb-

I'm not sure what i need to do to run a wallet for Expanse .I'm running  windows 10 pro and able to mine using Ethminer-opencl-0.9.41 on supernova's pool .I just can't figure out how to set up and run the wallet I downloaded "Gexp.exe" not to sure what it is that i need to do from there. So for now iv been sending all of the my mined EXP to my wallet on Bettrex are there any good links how how to set it up

So 230k of EXP has been sold so far to fund the development team + 770k + a voted on amount capped at 1% of the residual 10M monthly over time as they need it + the 8 EXP per block that are mined.
"out there" are presently only 230k EXP + whatever has been mined so far.
Happy with that.

Thanks a lot for your detailed reaction.

I thought someone found a wallet with 10M coins and nobody knew who owned it...

But if I understand it correctly, the the 10M coins are no secret and will be distributed in the future by the community using smart contracts? And 1 million coins for the organisation/dev team?

If so, you made me happy about my EXP again:)

Cool.

Is the DAO source on github or somewhere to see?
Also, what block will the EXP blockchain go to homestead?
Thanks again.

The more EXP you hold the more votes you have. This will be done with blockchain snapshots.  So not only will staking provide incentive to hold, there will also be an incentive to collect more EXP for influence and power with voting. It is somewhat capitalist, but that works well for incentive and should be good for everyone. We will also be gamifying the wallet and Dapps for this, so it should also be fun and exciting.

If people want to exclude 770k or whatever is available at the time of the DAO, this would be extremely easy as the blockchain snapshot could just exclude it. Devs or anyone could still just buy as much EXP on their own as they like, and vote, but that is also incentive and demand which can have a positive price impact. Generally, I would say we should just exclude any team reserve from voting that is remaining as the DAO starts up. That would be the most fair, so an easy choice.

Thanks for your detailed response. It is reassuring to know you still have a reserve and it is being used wisely by the sound of it.
Looking forward to the staking development.

Back to the DAO and contracts over the 10M. If I have e.g. 100 or 1k or 10k EXP, from the whitepaper does this make me a "shareholder" with 1/3 voting power times what ever number of EXP I hold?
By the look of it, any shareholder, even with 1M EXP, would be by definition overwhelmed by any monthly funding vote of the founders+directors.

Even so, worst case "flood" of 1% per month. That to me is not so bad, especially given the control you have shown so far.

Also, will the 770k in the dev reserve be exculded from voting, and how will this be done?

The 770k remaining is the team fund that we use sparingly, if you compare to some other projects they use far more than us and run out of funding quickly. We had no ICO and the only payment any devs get is from building up the value. We started at the bottom literally, and have been building it up. To be frank, we want to spend as little as possible so we can stake our coins in the future as we believe in the project, and ideally, I think we can potentially build to a marketcap in the millions. The announcement does detail that the 1 million for the team would be used over 1 year, and it has been around 7 months, so we are under budget if anything. We also never dump coins and we care greatly about building up the value.

The 10 million community fund will be totally controlled with smart contracts and only used as desired by the community at large. If you check the white paper we go into detail about the safeguards and limits. The short version is that the smart contracts will greatly limit the amount that can be released, and this means that even if the community votes poorly, it is possible to correct as there would be time to notice poor spending votes.

http://www.expanse.tech/docs/whitepaper-draft.pdf

As for Proof of Stake, that will come either after ETH goes POS and we will use the same implementation, we might go hybrid, and I know another coder with an option that might compete with Casper and that could be very revolutionary. We are still in talks and discussion about this. I am in favor of it as it could give us a huge competitive edge that might surprise many, but regardless, some form of proof of stake will happen in time.

A new website is coming by the way, and an announcement for the new team members joining. New videos. Much is in progress. I also think as we actually used less funding that we said we would that shows that we are very committed to the project long term. This is something we really love doing, and I am confident in time we will win over most people with any doubts.

It may be helpful to those new to expanse if this were more obvious - is there some ELI5, in particular on the coin issuance from the 10M,  the structure of the 10M contract, and what will be happening to the 770k - is this covered by contract also?
Thanks again.

Also, regarding PoS can I go and grab 1250 EXP and stake it like I will be able to with ethereum?

The way the DAO works is that about 1% max could be used per month, so there would always be some of the community fund left even if people are voting to use it every month. After the time lock contact is over, it would be replaced with DAO contracts right away, at the same time. We have been working on this for 7 months, and we have around 30k followers combined on social media, we are not anonymous at all, and this is a very serious project. If people want to get in early this might still be the time, if they want to wait that is also an option. If does take time to develop, but I think we have shown that we are very capable of growing the project, and so far I think most people have been pretty happy with the results.

I will agree as well. I own ALOT of exp, but might offload if this is how they are going to distribute them.

I agree.
Perhaps set up in 100x 100k EXP blocks locked in individual time locked contracts. This way, they can be unlocked in 100k tranches, used sparingly, and it wont cause the same level of panic.

Thank you for your answer.

I have no problem with coins being premined for compensating the devs. But it should be communicated openly who owns how many coins. Now it raises doubts. In example it's public knowledge Vitalik owns +600K ETH. No problem, it's well deserved. But if he would have kept it a secret, it could have been a problem when someone found out about it. So it would be wise to communicate who owns those coins and what will happen to them and in which time frame.

It would also be smarter to lock them up in smaller parts. If a contract for 10 million coins is unlocked, the price will plumbed instantly. Those 90 days will have no effect on that. When the announcement is made that the contract for the release of 10 million EXP will be unlocked, all investors will drop the coin and the coin is dead. As long as this is not sorted out it is also a big reason for investors not to invest in EXP. I'm already regretting my investment, because I didn't know this upfront...

https://www.facebook.com/groups/expanseofficial/

Expanse Roadmap in French by one of the new team members. The news is coming for the team additions, but I figured I could share this now.

They have not been touched, they are in cold storage. There will be a smart contract that will lock them up implemented soon. (The contract code is already made)

The way the smart contract works is that it makes them impossible to move for 90 days, and that is 90 days from when the contract is unlocked, and the unlocking is public. This will give us time to get the DAO coded, and make people feel more safe.

Homestead is coded and being updated at a certain block, and I believe after that the test contract goes in, we test that a couple days, and then the time lock contract for the 10 million goes in and then people can feel extra safe. Although the team is public and clearly we are in this for the long run, I think it is crucial that smart contracts are implemented to make people feel even more secure.

maybe it's a scam?

Yeah I think "investors" also get scared by uncertainty. They see ETH dumping and get scared and sell EXP and other alts.

Can someone answer my question about the 10 million premined coins? Who owns them, why are those idle, and what are the plans to do with them?

If those coins will be brought to market, it will have a big influence on the price compared to the 1 million coins which are available for trading at the moment.

Check the charts, EXP has gone up significantly with ETH rises in the past, sometimes higher. This connection is a good thing. We will have our own news, and we can also benefit some with changes in ETH.

BTC is rallying a bit and this is totally expected and normal. Should be some good entry prices for ETH and EXP.