Topic: [ANN][POW][CLO] Callisto Network - Cold Staking & Security Audits - page 113. (Read 89837 times)

Cold staking:
Not necessary to run a node to engage in cold staking;
No minimum staking amount;
No hardware investment;
Stake and reward must be claimed;
Shorter staking periods;
Governed by simple smart contracts;
More inclusive;
Seamless.

So far we can not draw unequivocal conclusions. It is necessary to wait for answers from the developers.

Do you think that since it is a question of allocating funds, will there be bribery? To know this one must accurately represent the benefits of this. Who will benefit from this?

Security DAO Codex and Cold Staker’s Codex

it was decided that it will be necessary to create two documents, which will be a formal set of rules for each participant of the Callisto network.

The Security DAO codex is a set of rules that should be followed by security auditors, auditing managers, and cold stakes to ensure the smooth and proper operability of the Security DAO. This set of rules formally describes the actions that participants must take during the Security DAO workflow, as well as the criteria that will guide cold stakers in voting FOR or AGAINST the election of a certain participant and evaluation of the activities of participants.

The Cold Staker’s Codex describes the decision-making process for the allocation of Treasury funding and the criteria that the cold staker must follow when making a decision/voting.

This project is very promising. What is the difference between your project and other similar projects?

Cold staking offers a simplified lending process, with shorter staking periods (Callisto’s starts at one month) and no minimum deposit amounts. Cold staking’s ease of use to the non-technical user provides anyone the opportunity to collect dividends on their holdings, simply by holding their Callisto and without the requisite hardware to run a master node. This encourages Callisto holders to hold their funds and invest in the Callisto network by locking up their CLO for short periods of time on the network, and rewards them for their participation with an adequate return where they may otherwise not be able to participate in a crypto lending facility. Now that the main differences between cold staking and master nodes are broadly understood, consider the theoretical similarities between cold staking and financial instruments, such as a certificate of deposit:

Let’s assume User1 acquires 10,000 CLO as a speculative position in November, 2018.

User1 has no immediate plans to liquidate their CLO and can commit to a minimum holding period of 4 months. Based on some initial projections, they can stake their entire balance for 4 months, and without purchasing a single CLO throughout the holding period, could claim their initial stake and reward in March, 2019 for 12,862* CLO. That amounts to a 29% return over a period of 4 months. This is quite attractive from an investment perspective, even assuming CLO price in a vacuum for the entire staking period. Now compare this to a traditional fiat currency investment of comparable terms and structure. User1 could invest $10,000 USD in a certificate of deposit and at current rates, be “guaranteed” an approximate annualized yield of 0.58%, which is the national average on a 1 year certificate of deposit. Since 4 month terms aren’t typically available, you would need to either accept a 30 day yield at approximately 0.08%, or lock up your funds for a period of 6 or 12 months. At the end of 12 months, User1 would earn a paltry $58 for lending their $10,000 to a financial institution. When taking into consideration inflation and income taxes, User1 is essentially guaranteed to LOSE money in real terms. If evaluated in parallel to cold staking, the opportunity cost is substantial. Thus, when evaluating investment alternatives in simplified terms, User1 is faced with an opportunity to enter into a cold staking protocol with more flexibility, lower risk, and a high probability of a superior return.

Cold staking offers a simplified lending process, with shorter staking periods (Callisto’s starts at one month) and no minimum deposit amounts. Cold staking’s ease of use to the non-technical user provides anyone the opportunity to collect dividends on their holdings, simply by holding their Callisto and without the requisite hardware to run a master node. This encourages Callisto holders to hold their funds and invest in the Callisto network by locking up their CLO for short periods of time on the network, and rewards them for their participation with an adequate return where they may otherwise not be able to participate in a crypto lending facility. Now that the main differences between cold staking and master nodes are broadly understood, consider the theoretical similarities between cold staking and financial instruments, such as a certificate of deposit:

Let’s assume User1 acquires 10,000 CLO as a speculative position in November, 2018.

User1 has no immediate plans to liquidate their CLO and can commit to a minimum holding period of 4 months. Based on some initial projections, they can stake their entire balance for 4 months, and without purchasing a single CLO throughout the holding period, could claim their initial stake and reward in March, 2019 for 12,862* CLO. That amounts to a 29% return over a period of 4 months. This is quite attractive from an investment perspective, even assuming CLO price in a vacuum for the entire staking period. Now compare this to a traditional fiat currency investment of comparable terms and structure. User1 could invest $10,000 USD in a certificate of deposit and at current rates, be “guaranteed” an approximate annualized yield of 0.58%, which is the national average on a 1 year certificate of deposit. Since 4 month terms aren’t typically available, you would need to either accept a 30 day yield at approximately 0.08%, or lock up your funds for a period of 6 or 12 months. At the end of 12 months, User1 would earn a paltry $58 for lending their $10,000 to a financial institution. When taking into consideration inflation and income taxes, User1 is essentially guaranteed to LOSE money in real terms. If evaluated in parallel to cold staking, the opportunity cost is substantial. Thus, when evaluating investment alternatives in simplified terms, User1 is faced with an opportunity to enter into a cold staking protocol with more flexibility, lower risk, and a high probability of a superior return.

In this I agree with you. This fact will have a positive impact on the attitude towards the project of participants in other communities.

Be that as it may, the team of the Network Callisto arrives correctly, expanding its influence on other projects. Interaction between projects is a good experience.

The EOS token gives the right to vote. The EOS token gives the right to a share of the network resources. The law is broken? And this, in turn, means that there are people willing to take illegally collected funds)))))

Do you think that money will be stolen? Or, maybe, for them lawsuits will begin? Or recognize the conduct of ICO illegal distribution of securities?

It is important for us that this project develop successfully. I also tend to think that prematurely received billions of dollars will lead to a collapse.

I very much doubt the success of EOS. It seems to me that this is a fraud. This is an attempt at global centralization. Instead of a great many servers, they make a small, very limited number and still sell space and RAM.

We decided to expand the Callisto Security Department and start working with more platforms. Callisto Security DAO workflow is abstracted from Callisto chain, as the result, we can perform security audits of third-party contracts.

We believe that the EOS is a progressive project and it also needs security audits for its smart-contracts.

https://news.callisto.network/callisto-roadmap-update-detailed-overview/

The storage bridge nodes will be elected and paid for by the Callisto Team before the Hard Fork №2. After Hard Fork №2, these nodes will be elected and paid for by the Cold Stakers decision.

So the Cold Stakers will vote for the inclusion of the nodes and the transfer of the CLO as a reward?