Topic: [ANN][CrowdSale Ended]🌟🌟🌟🌟 NVO Decentralized Exchange | MultiWallet 🌟🌟🌟🌟 - page 153. (Read 170140 times)

Interested! NVO blog post and social media campaign not available?

It is my second time investing in NVO, first time i was unable to received back my NVO because i was using different bitcoin wallet service anyway thats okey it is just a small amount to try to invest, Second time i invested a small amount again for tersting i created a wallet in counterwallet and follow your instructions above. and i am glad that it works like a charm.

First of all, welcome to the bitcoin talk community, and welcome to NVO. If you have anymore questions feel free to ask either in the thread, by PM or in slack, the NVO project is open and wants to be as user friendly as possible.

So let's answer your questions.

First question :

There was a lot of troubles at the initial launch, now they have been solved, server upgraded and the traffic can be managed with a relative ease, but most important, the security issues have been solved.
Regarding your account, some have been lost due to database enhancements, but the team kept a copy of it, so your informations and old user ID can still be recovered. If you haven't invested it is better to create a new account.

Second question:

You shouldn't invest from a blockchain.info wallet, even if the wallet's private key can be recovered, it is not advised to do the operation as it can return some unexpected results. the best is to create a counterparty address and use it to invest, this way you will find your NVOT directly into that address.

The investment process may be complicated for some users, but we will do our best to guide you.

So :

1- Create a wallet at : https://wallet.counterwallet.io/
2- backup the passphrase
3- Send Bitcoins to your counterparty wallet.
4- Register in NVO and login.
5- Insert the counterparty wallet's address.
6- Send from your counterparty wallet to the Bitcoin escrow address.

Finished, you will receive your NVOTokens into that wallet, and as it is a counterparty wallet, you will be able to see them.

Do not hesitate to contact me or the team (slack) if you need more informations or guidance.

Could please specify the model you are awaiting for ?




Welcome on board !



I don't want to speculate on that, the project isn't focusing on money. The most important is to focus on the project development, the crowdsale is just a step. The team doesn't want to "imagine" how much they will collect, they are more in a logic of "how to best use this money" because the real objective of NVO is to bring volume to the exchange, and they can't bear to disrespect the community as it would be bad for the investors, and the futur users.



Thanks for your support, it is great !




I suppose the answers you were given were satisfactory so that you imagine a crowdsale like this, its a pleasure to see your enthusiasm for the project 

No one could predict the final balance its a crowdsale after all.

7543.03392128 precisely 

Yes. Its nice to see some wonderful people backing up this project and nemgun doing a marvelous job by answering all the queries here. Will keep an eye on this and will be looking forward to its success. I would suggest members supporting it can tweet about it and let others know about it.

I was really curious about total amount accumulated by NVO project so far and it seems that so far total number of Bitcoin accumulated
on Multi-Sig BTC escrow address for the NVO crowd sale 3AiGej11G8jUXvEBPvQKPLiHXC7ruUCp1Z is 37.22803392 BTC.

29 days to go, before  ICO will end. Can you guess what will be the final balance in BTC?

This is my first post in this community so firstly hello to everyone!

I would be greaful for some feedback on the questions i have regarding the NVO Crowdsale if possible?


First Question - I took an interest in this project prior to the initial launch date. I registered on the site to take part in the crowdsale, as part of this process i was given a user I.D.

As the date arrived i tried to log-on, but obviously there was an unexpected demand and the crowdsale launch date was subsequently set back.

Today i have tried to log-in to the crowdsale again now that things have stabilised, but it didnt recognise my login details, so i instead signed up as a fresh user (useing my original login details & email etc.). This worked and i was asigned a different user I.D. which i can use to log-on

Do you see any issue with this i.e. my email and password wont be still linked an anyway to my originnal registartion and cause issues down the line?


Second question - I was planning to contribute in the form of BTC from a Blockchain.info account, do you see any issues with this. Reading the website, if i deposit from Blockchain.info. then any distrubution of fee's in the form of NVOT would be sent to this same address. Is there an option to have funds sent to a different address at a later time?

I assume NVOT would be credited to the Blockchain.info account in the form of BTC, so i should then be able to transfer this BTC to a hardware wallet (which im awaiting delivery of - out of stock) at any time in the future?

any help appreciated,
Thanks,
KR

Thanks for the question, this is not an ICO, it is a crowdsale because the team want to be fair with the investors. In the case of NVO, the Tokens will be used as a faucet, it is a way to help controle the price of the Token using a sub token at a fixed rate. Please have a look at my last post.

There are some great partnerships who will let NVO exchange grow in term of volume which is the main concern for decentralized exchanges. Another aspect of the project includes the creation of plugins to bridge together different projects from a single wallet. So instead of having 20 wallets on your computer, or having to keep logins for 100 service providers, NVO will let you do this directly from the wallet.





Thank you for your comment, and i welcome to the adventure, in fact, NVO wants to get all the community, not only bitcoin, but all cryptos. NVO doesn't compete with blockchains, but wants to complete their work by providing a unified interface to as much projects as possible.

[quote author=]
the idea is brilliant and in the longrun i even think that there is much more demand for exchanges as crypto is growing

in the short term there will be the issue with volume, there are trading sites that just fight with low volume and i dont really have seen an "easy" way to get volume fast
[/quote]

Marketing and patience, more marketing and more patience

Sorry if this question has already been asked, but what is this ICO exactly for? Is it for buying coins or shares? In case of shares, will you earn fees from the exchanges that other people make?

This is something that will resound with a lot of people like me. I am definitely part of that 90% of community who was curious to try Bitcoin and of course got my first payments after a few days of using a faucet. I am sure 90% are also like me who don't have much and are waiting so long for a chance to put our small coins into something we can share equally if it grows. NVO looks like one of this, and I am very close to making the decision to make it my first "real" choice for supporting.

Actually, the validator can be run on the testnet. So we can develop the validator right now at this moment. The problem is since the network is in alpha, the testnets are frequently reset, so it can be very inconvenient and inefficient. There are alternatives, but it will make the exchange semi decentralized instead of fully decentralized.

If Maidsafe never comes to fruition, we will use those alternatives until it's available. We have thought about this so don't worry.

I have a question.

Maidsafe is still in Alpha, and has been in development for 3+ years. It doesn't really seem ready enough to build a project on top of.

What if Maidsafe runs out of funds and never comes to fruition, or if it stays in alpha/beta for a long time?

Is there any back up plan?

Let me first explain why 0.99$. In USA, 1$ is valuable, but lower then 1$ isn't valuable, this is why NVOS will be used, NVO doesn't want to get regulated by the governments because it is a decentralized exchange, regulating NVO means centralizing it. So as 1$ is a reference in USA, the Team decided to lower the price of NVOS by 1 cent in order to avoid legal issues regarding the distribution of funds, this process lets the NVO Wallet usable worldwide without limitations like Bitcoin.

The NVOT and NVOS will be counterparty assets, built on top of the Bitcoin blockchain, so the NVOS will be exchanged for Bitcoin only. While NVOT can be exchanged like any other asset/currency.

Once you put your NVOT in the NVO wallet, the validator will be aware that own X amount of NVOT, and will then send you a proportional amount of NVOS. Each time a trade is concluded, the validator will calculate the fees values in bitcoin.

Then he will process the distribution of NVOS, 50% will be sent to NVO and 50% will be distributed to the owners of NVOT.

NVO will issue buy orders once a week to buy back the NVOS at a fixed value of 0.99$ in BTC. This process will be automated later.

How the Validator will send the NVOS to NVOT holders ?
The validator will convert the collected fees from Altcoin/Asset to Bitcoin. Then he will exchange the Bitcoins to USDT in order to fix the value. Finally will send NVOS proportionally to the amount of fees collected, and will distribute them proportionally to the amount of NVOT held by the wallets.

After a week, NVO will buy back the distributed NVOS to feed the Validator for the next week and so on, this process will be automated in late development stages.

This will incentivise holders/investors/owners of NVOT by keeping their tokens into the wallet, thus reducing the risk of dumps.

Thx for the reply Tonbi and Nemgun.

Ok, let's see if I get it, working example:

suppose I hold 20% of all NVOTs. Suppose t is the interval of time between NVOS distribution.

Scenario: During t, 10 BTC are collected as fees and 10 ETH are collected as fees, so 20% of 50 % of that is to be distributed to me, that is, 1 BCT plus 1 ETH - NVO company holds 50% of all fees. So far, so good. Now, based on which market will you give me the amount of NVOS corresponding to that 1 BCT and to that 1 ETH in dollars??

I understood that when you come up with the price of all fees of all cryptocurrencies in dollars, you will use the formula NVOS=0.99USD to generate the adequate amount of NVOS, that's very clear. What I'm struggling with is how this calculation will be done.

Isn't it easier in each scenario to distribute the cryptocurrencies themselves? Specially if your schemata is seen by regulatory agencies in different countries as an online exchange and with the risk of the entire thing being shut down? You are distributing dividends with price tag in fiat.

I don't know about the tech challenges to do this, though.

That's good to be a part of the successful campaign which is completely based on the decentralized platform and functioning in an effective manner just based on the support from the investors and the early bonus for the investors is quite good to make a big profit after the crowdsale.

Hello, and thank you for your interest :

1- The amount of NVOS will be proportional to the amount of fees collected by the Validator.
2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd.

The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that.

We are keeping it at $0.99 for legal purposes.

It will be easier if you check our whitepaper or watch the youtube video to explain how the validator will work. For simpler explanation, check the video. For more details check the whitepaper. It's between wallet to wallet so we can process orders quickly for users. The problem would be users are required to be online for the exchange to happen so offline trading won't be supported right away and high volume orders might take longer than traditional exchanges during the early stages of development. That's why it's important for us to raise money for liquidity and get partners that are market makers. There are several methods to tackle the problem with offline trading, but it won't be part of our main focus until online trading works well. The problem with offline trading is it won't be fully decentralized(semi) however it is doable. There are also other methods that rely on the Safenetwork that we could do as well that will keep it fully decentralized, but they haven't been developed yet as of this moment and will be worked on during alpha 3.

The wallet for NVO will be open source and the state of the validator will be decided by token holders. We will use money from crowdsale to hold a reserve for bugs bounty and it will scale with the exchange so more money will be added to the reserve as the exchange becomes more profitable. Unlike centralized exchanges all assets are controlled by users even during exchange. Theoretically, if we encounter critical bugs/vulnerabilities, there is a much smaller window for theft in both time and quantity compared to centralized exchanges due to hackers having to target very specific settings which can be prevented as we set up more system of independent checks minimizing the risk of theft from even small incidents. Ultimately, if there are problems it will mostly likely because users don't secure their computers from malware.

Yes we both have experience dealing with exchanges and crypto currencies projects. We have a partnership with coinpayments and are endorsed by the Maidsafe team because they believe in the capacity of this project. If this project is impossible to implement then the first people to realize that would have been the maidsafe team so rest assured this is not impossible and will be done. For Yanni last project, he was working to help to build a centralized exchange called veserus.com which is still in development, so there is experience working from both sides.

It's easy to doubt development for decentralized exchanges and forget that nearly every non-DEX has been hacked and struggle to stay in business for continuous years. These hacks can vary from human errors to third parties vulnerabilities on traditional networks. Non-DEX not only control users assets they control users' info and the market itself. Centralized services form a monopoly on the decentralized economy.

We have endorsement from the Maidsafe team while building this project on the Safenetwork. It takes a few post on the forums to request for help from the community, and issues can be resolved because when it comes to developments there are solutions its just a matter of finding the best one. Along the way we may get hacked and we can't say we won't because any service or website saying that would be lying. We can get hacked, but it's set up so the incidents are minimized even if we do. You can read the whitepaper on the scenarios and how we plan to prevent it. We also have very flexible set up on what technology we can work with to secure the exchange such as a solution to double spend . There will be a rewarding security bounty reserve so people are always encouraged to find vulnerabilitie. Our wallet and plugins system also ensures we are not only building an exchange but a encouraging a shift from centralized services to become more decentralized so that all decentralized services get a bigger market share. Hopefully more people will understand what we are trying to build and realize it's importance.