Topic: [ANN][ICO][BOUNTY] ＡＬＬＯＹＣＯＩＮ🌟ASSET🌟BACKED🌟CRYPTO🌟WITH A🌟SAFETY🌟NET (Read 589 times)

We just released a few new features for AlloyIndex: comparing crypto prices, night shift, quick conversion to USD and a ticket widget you can add to your site!

AlloyIndex - Free cryptocurrency data API and cryptocurrency data mining.
https://alloyindex.com

### A Clean, Modern Cryptocurrency Data Site - In support of Alloy

**Background & Motivations**


I was really overwhelmed by all the cluttered sites for cryptocurrency data. It seemed to be a theme that if you wanted any information in the crypto space, you had better be prepared for a full on assault from a storm of ICO ads (probably why Facebook and Google dropped them). You could never just visualize data for the sake of data. And ultimately, I felt like crypto-data sites weren't built for the end user so much as they were for advertisers.

I wanted something **simple, clean and minimalistic** without sacrificing utility. I couldn't really find anything that fit that so I created my own tool. It's called AlloyIndex - https://alloyindex.com. Alloy is our project's name and Index because we want to add a few indices (financial metrics) at a later point.

https://i.imgur.com/nsIRJQR.png


####AlloyIndex
It's not perfect but I wanted to share it in the hopes that Reddit could help me find ways to improve it. It loads best on mobile and desktop--I'll add support for intermediate devices later. **What kind of features would you like that you can't get elsewhere?** Features for now are limited and honestly, most of the data you can find in other places (not claiming you can't). It's the appearance, presentation and most importantly *user experience* of that data I was primarily focusing on. But we do plan on adding more sophisticated data analytics tools to further distinguish ourselves at a later point, if it seems people are interested in AlloyIndex (ie. semantic analysis, social media mentions, auto-trading tools, portfolios/accounts etc.). I have a background in machine learning and natural language processing so I'm excited to apply some of those techniques to data in this space.


Any constructive feedback would be greatly appreciated! If you do end up liking AlloyIndex, feel free to use it . Overall, I hope you find useful if not at the very least easy on the eyes.

*Cheers,*

####[AlloyIndex](https://alloyindex.com)

bozton,

I wanted to let you know that we just updated our bounty interface on alloycoin.com to support signature bounties . There was an issue with our blog bounty interface which we patched with our recent update. All bounties should be available!

As far as the signature bounties go, they are calculated once every week (Sundays) and are linked to your BTT profiles. Let me know if you have any questions!

Hi md360s,

For that particular sale in May, we're planning to sell AlloyCoins at 2.5 USD which is a 50% discount of the target ICO price of 5 USD. We're hoping to raise 400,000 USD for a total of 160,000 AlloyCoin.

We're planning to have the public ICO in August/September. Let me know if you have anymore questions

Cheers,
Vahid

On the timeline, it has a part about accredited investors.  Is there a prediction as to how many will be sold?

Hi NearlyMiningXx,

When the mining software is released, we are planning for AlloyCoin to be mineable with GPU.

The question regarding circulation inflation actually ties into why the mining software hasn't been released yet. When we say circulation inflation we mean the number of coins that were mined over a period of time (usually about a year) as a percentage of coins already in circulation.

This is an important concept for our model to work since the coins that are mined actually have a negative impact on the price floor. Those coins in a sense dilute the price floor by inflating the number of coins in circulation. So we need to consider them when we calculate our price floor.

For this reason, we can't release mining software yet because by the time summer of 2018 (our ICO) comes around, there would be too many coins in circulation for AlloyCoin's price floor to work. Check out the evaluation section in our white paper that talks about the effects of circulation inflation.

Alloy Reserve picked summer of 2018 to give us time to prepare for legal issues related to crypto 

Super cool project! Do you have mining software released for Alloy Coin? Also, can you do GPU mining with it?
Also, just to clarify, in your paper when you say 'circulation inflation' your referring to the coins mined, or is that the number of coins that are circulating?

Cool concept you guys. I just wish you would launch sooner, summer 2018 is too far away haha

Thanks WithoutRegrets,

I'm looking forward to the simulation game as well  The last I heard from the dev team it was going to be something like a "spreadsheet" strategy game. 

But at the last meeting, our CEO Vahid mentioned that he wants to offer a website with tools for users to evaluate their own crypto portfolios. With an interface for users to visualize their portfolio data. It would also include a high level summary of the top cryptos.

The second one seems like it would be less a game and more like a really cool crypto webapp. But the second one makes more sense long term.

Either way, it'll be cool to see what happens 

I'm happy to hear that! Congrats on your bounties

Cool, love this project!

Your one of the more interesting ones I've seen in a long time.

Also, I just got my first bounty reward, yay! You guys should increase the subscription reward to be more than 0.15 lol

Hello Cassiscash,

Thank you for your support and for the vote of confidence

I'm happy to hear that you think AlloyCoin solves a real problem!

As for the question regarding the run on the bank, you bring up a really great point. Alloy Reserve wants to be as transparent as possible and we take that issue very seriously.
For those who don't know what a 'Run on the Bank' is, it's where every depositor in a bank returns to claim their money at the same time. In traditional banks, they're only required to keep a portion of their depositor's funds. So if everyone shows up at the same time, not every can get their money.

AlloyCoin does not work like that - We seek to guarantee the value of all circulating coins. Not a fraction of them.

Since Alloy Reserve seeks to guarantee some minimum value, we aim to always buy back AlloyCoins. So for Alloy Reserve, a run on the bank would be where every AlloyCoin holder sells back to Alloy Reserve at the same time.

In order to prevent total depletion of assets, Alloy Reserve actually implements the following precautions:

• First, the price floor is calculated by taking all circulating coins and a "buffer" of about two months worth of AlloyCoins that have yet to be mined.
• Second, Alloy Reserve expects to earn interest on its investments. So the Reserve's value should grow over time.
• Third, Alloy Reserve collects new coins for each block that is mined. So there's always a new supply of coins for Alloy Reserve to sell.
• Lastly, when Alloy Reserve sells coins, they're only ever sold at a value above the price floor. The difference is used to help 'pad' the Reserve.

You should check out the third section of our white paper related to how the price floor is calculated. One main note to take away is that when Alloy Reserve say 'circulating coins' we mean all coins not held by Alloy Reserve. Those are coins that were either mined or sold into circulation. AlloyCoins held by Alloy Reserve have no value. Some people get that confused

It's an interesting problem and we have a really solid finance team that oversees those precautions. For the sake of transparency I want to stress that AlloyCoin is not a perfect solution. But the equation we've outlined in the white paper should be viable. We encourage you to review it and if you think you have a better solution, share it with us

This seems like the natural next step for cryptocurrencies. I've been waiting for something like this for a while now. There is certainly a need for Alloy Coin especially considering the recent market swings. You're absolutely right that cryptocurrencies are too volatile to use as tender. However, Tether is unattractive to someone like myself who sees cryptocurrencies as investments. You may have just found yourselves a niche!

The ability to earn dividends is precisely what stable cryptocurrencies need.

I had a question about the long term viability of the price floor. How do you prevent reserve assets from depleting? Like a run on the bank?

Cheers

-Cal

Thanks bozton!

We're constantly updating our website and a signature campaign is underway. I know that our dev team is working on integrating the signature registration to bounty profiles.

The next update to the website within the next month or so, will include a signature campaign and I believe social media bounties too (need to check). Our CEO has repeatedly mentioned having 'content driven' bounties so I need to check on the social media bounties. I suggest you subscribe to our newsletter and you'll be notified as soon as the signature campaign becomes available

Thanks CryptoCopia,

I'm glad you like our mission We certainly don't want to be just another coin! There are enough cryptos for the sake of being crypto.

AlloyCoin absolutely can be used for financial institutions and in fact, some of the inspiration for its idea is borrowed from fiat currencies. The idea of a Reserve is akin to something like the Federal Reserve. The idea of a price floor and being asset-backed is supposed to resemble the idea of the "Gold Standard". Even our name comes from the concept of Alloying the worlds of crypto and fiat currency to introduce stability and decentralization. Alloy aims to be the bridge between crypto and fiat.

We don't take offense to being held accountable haha AlloyCoin's blockchain was designed so that Alloy Reserve's business interests and the health of the blockchain are aligned. We want to be held accountable by our community. Plus as a U.S. company, we'll need to meet certain SEC regulations as well. That's part of the reason why our pre-sale and ICO rollout has been a little slow in spite of having a working testnet. We want to make sure we do it correctly.

Thanks for subscribing, I'm glad you liked our website! I actually helped with designing the landing page 

I am interested in your project, which I want to ask why you do not have a signature campaign, I see in the link bounty did not find any signature campaign.

Whoa that's actually pretty cool! I just looked through your white paper   This is refreshing. Nice to see teams actually innovating instead of just launching another coin.

Could Alloy Coin be used by banks and other financial institutions as a way to make them more decentralized? From my understanding, the Reserve is built into the block-chain which gives miners a way of holding Alloy Reserve accountable. I like that haha no offense.
It seems like this technology would be really useful in the finance industry. Has your team considered marketing Alloy Coin in that direction?

- Nice website btw, I just subscribed

Currently, AlloyCoin has a bounty campaign that rewards users for sharing information about AlloyCoin. Visit our page: AlloyCoin Bounties and create a bounty hunter profile account to join!

For every person you refer to our newsletter, we award 0.15 ALC.

For every blog you submit, we award 2.0 ALC and we accept up to 3 duplicates on separate platforms (Reddit, Medium, etc.) for a total of 6.0 ALC per blog.

Thank you Ouyunk

Our team has been making great progress and Alloy Reserve has a version of AlloyCoin that we plan to release. We're planning for an ICO sometime in August of 2018 and for the first mining software and wallets to become available ~6 months afterwards.

For the AlloyCoin ICO, 90% - 95% of the funds raised in the ICO will be used for the procurement of collectively owned Reserve assets and 5% -
 10% for continued development. After about 6 - 12 months from the ICO, we expect Alloy Reserve to be fully operational and for users to be able to both buy and sell from/to the Reserve.

it looks like this project is quite unique, I want to know, how will the future of this project going forward, if one moment Alloy coins listing in the market exchange, I will be happy to buy it, provided the progress of this project is good

Thanks awesome_cryptos,

Great question! Our dev team has implemented dividends as follows:

• A blockchain explorer that gathers public addresses for wallets as well as their balances.
  
• Alloy Reserve determines the difference between growth of Reserve assets and inflation caused by mining (circulation inflation).
• This difference, which we refer to as the dividend growth, is measured in terms of AlloyCoin.

• The dividend growth is then proportionately awarded to wallets based on the percentage of circulating coins held in their balance.

There are technical issues of scaling with this approach. Our dev team is currently working on those and for now, this approach should be viable for the foreseeable future.