Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 714. (Read 1191996 times)

So KMD will be distributed approximately a month after the BTCD feature is ready. So I would assume beginning of February at the earliest?

What do you mean with "… it seems the developer only cares about swapping his tokens…"?

As far as I´m concerned, I am not holding any BTCD. The same is true for kolo.

As for your questions:

a) Team is working hard to get the BTCD deposit ready at the Komodo ICO site (you can expect the announcement soon)
b) After a) is ready, BTCD blockchain snapshot is happen after 7 days
c) After b) was happen the Komodo Notary Node Elections begin and last for 2 weeks
d) After c) all investors will be able to claim their KMD

But all of that you can read in the FAQ (even they are more relevant for BTCD investors).

Further the team is working on a Komodo Windows (Electron) client.

Is there any working roadmap for this project, it been months now that the ICO has been concluded but there is no actual date that token distribution will take place, no working windows wallet and to me it seems the developer only cares about swapping his tokens for KMD, leaving the actual ICO investors to fend for themselves

Which homepage?   

All content is available via Google Spreadsheet. Haven't time yet for put it on the homepage.

Wow! 

Great work on the FAQ guys! I can't believe people will have questions anymore. Too bad, the text isn't crawlable for Google or can be copied for users. Maybe put it on your website too? Will be good for you SEO too. 

 

Just verified, thank you.

Here are instructions:


The answer is now also available on our useresponse site: https://komodoplatform.useresponse.com/knowledge-base/article/how-do-i-check-i-got-the-right-seedpassphrase

I'm confused, how can I do that? How can I check if phrase matches KMD address?

Yes just wait for the elections to start... and after those we will distribute the KMD.

There's is one thing you should do right now though, and we have said it before, but it is important so I'll say it again and again

Verify your seed/passphrase!

Go to the komodo ICO site and make sure the KMD address you see there matches with the seed/passphrase you have saved. Then make sure you keep it in safe place, and remember that we don't have your seed! You are responsible for your own money, and after the KMD distribution there is no way to undo what is done.

If you lose your seed, you lose your investment.

"Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can. "

No, "a lot" of us are not thinking that, that is not reality. But, for those few who are, please, do it as soon as you can so the rest of us can get back to growing our investment and actually using KMD..

"My obligation is to the KMD investors, which means increasing the value of KMD and not spending time and effort distributing out funds that we could very well use in future years. "

Exactly and, thank you for stating that, it is crux of everything being done here right now. As a KMD investor, ICO and BTCD (when swap is available), I am quite pleased with jl777's integrity and work ethic as well as the progress being made on this project. Those of you complaining, try it yourself. I've been writing code since the early '90s and I know what it takes so, be patient if you want quality and security.

I really wish people would consider what they are about to commit to history by posting in these forums.



  

Hi, there. I wanna to ask something. I deposited Btcs 2 monthes ago and have a profile on the website komodoplatform.com with some KMD Balance.

What can I do right now? Just wait? I don't see any options to withdraw neither I don't know where I can do that )

There are a few assumptions here that I am not sure are correct.

First of all, the assumption that it wont cost anything to distribute the BB is incorrect as I am not aware of any built in BB dividend function that can take a snapshot of KMD balance and allocate some amount of BB to it

which means somebody would have to code this. there arent exactly a long line of volunteers who are prepared to create a production usable BB dividend mechanism.

which means it would take time and cost money and also necessarily delay core komodo functionality as it is likely that the staffing needed to do this are already on critical paths. So there would definitely be direct costs and an indeterminate amount of indefinite costs.

Now, I am not sure what market value the KMD's BB stake will be worth. If the value of the BB is 10 to 50 BTC, then after netting out the cost for running the dividend, there wont be that much left over, ie 10 BTC / 100 million -> 10 satoshis per KMD.

So for every 10 BTC of BB value, it is a whopping extra 10 satoshis per KMD. To put this into perspective, if you have 10 million KMD, it will be worth 1 BTC. If you have 1 BTC worth of KMD, it will be worth about .001 BTC

Now, whatever value the BB has it will go toward enhancing KMD, so investors are getting value from it. Based on my estimates the costs for doing the distribution will be in the same order as the value. The only way I would do it is if I had promised that I would and it was an obligation to do so. However, I said that we had to raise the higher end of the ICO for us to do the BB distribution.

What we raised was not sufficient to qualify as the higher end of ICO and we have already had to reduce the notary node subsidies due to this. So it is not like we are swimming in so much money that we can take time and effort away from the main KMD work, to send out money that we would have been be able to use.

Anyway, this question has been asked and answered. Events turned out to not trigger any BB dividend. There are costs associated with doing a dividend and even if I didnt already say that I wouldnt do it, given the current information I have, I still wouldnt do it.

My obligation is to the KMD investors, which means increasing the value of KMD and not spending time and effort distributing out funds that we could very well use in future years. Also, what many seem to forget/ignore is that I stated what conditions were needed to trigger the BB distribution DURING the ICO. To me, that means that people invested in the ICO with the assumption that I would do what I said. If I change that, then it breaks trust with the investors.

Please do not ask me to break trust with the investors. I simply cannot consider it.

All can be done through our ICO site.
 - if you invested with BTC you will get your KMD coins there
 - you can vote through the ICO site
 - soon you will be able to deposit BTCD's that will be automatically swapped for KMD
 - if you deposit the BTCD before the snapshot is taken, then you will also get the REVS asset

The only thing you MUST do is secure your passphrase/seed. We don't have it, so make sure you got the right one somewhere safe. You can check that the public KMD address matches with the seed you got through the ICO site.

After the KMD is distributed there is no way to recover any KMD without the passphrase/seed, and we don't have those!


We sent an email to every winner. To claim you had to reply and include your KMD address. If you did that then it's all good!

The bounty will be send at the same time we distribute the KMD.

How to claim newsletter bounty?

cash is cash still in the dumps but soon to be retrieved

I had the same thought about byteball, if Komodo can't run itself on the bitcoin that we all put up for this project, then it should have refunded every one of us and said "sorry guys, we can't make this thing fly". It shouldn't have to rely on the byteballs. Giving them back to the komodo investors would have been an awesome loyalty move that has been missed. Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can.

Let's not forget the yes, nodes are expensive but btc has just taken a huge hike in value. JL777 is no fool when it comes to crypto trading and I assume he's moving them about for optimum profit and to maximise the budget.

I just think the BB cost nothing so wouldn't cost anything to give them away.

I write this as someone who linked a large amount of btc to the BB project so I'm holding long term. I'm not writing this as someone who missed out on that unique project.

I'm not expecting this post to be addressed by the team as it's been dealt with previously, I just wanted to express my thoughts on the matter.

 

They can still buy their own ICO... I thought some investor group owns 500 BTC of the KMD ICO at 35%. How much went to a group you won't really know for sure.