Topic: | ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake - page 212. (Read 396062 times)

You bet its not. It is a reward or incentive hodling NXT. Much like a polymorphic digital asset. Nxt is turning out to be pretty cool. Hope more of this happen in 2.0

Thanks for this summary VanBreuk! I shared it on Twitter.

Not really tbh.
This is not an ICO, and it lacks the high level speculation aspect and potential to make 5-10x amount of money in a very short amount of time, like so many other projects out there.
That seem to be what attracts most interest these days.

Anyone else surprised we haven't seen an even bigger buy-in?  People are willing to throw thousands of BTC at unproven ICOs and here we have a major upgrade to an established project.

Won't this result in the selling of assets in order to get a higher Nxt balance for the Ardor snapshot?  This would drive the value of Assets down at least until the snapshot is over.

It's the balance you have available in NXT only that counts, thus any assets or MS currencies will not give any ARDR assets.
A side note, in NXT, effective balance means your forging power, including what other accounts have leased to you, that is not what is being counted here, just your available, regular balance that is shown when you log in to the client.

Maybe a dumb question here but the snapshot is only on the effective balance without assets or the total balance counting assets owned?

Intriguing look forward to see this become notable

I have several, but they don't use them  

I'll make a package and start adding them to the Press Releases. :p

Edit: Articles added to OP.

Bas I beg you, please go to a photographer for the next photo in an article... :-)

Some coverage: https://cointelegraph.com/news/ardor-new-competitor-to-ethereum-arises-amidst-reports-of-the-dao-attack

It'll be interesting to see how the nxt price responds to Ardor.

Yes, it does pump the price of Nxt. Is there anything wrong with that?
It's a simple supply and demand issue. Anyone can see how long the roadmap is, and plan accordingly. It's in the OP, should you have missed it.

There is a three month period where people can or cannot accumulate to get Ardor tokens, and then another period where they can trade them as they wish.

We specifically do not go for the ICO model, as that would most definitely be a money grab, and also not do justice to the people who have bought and held Nxt for over 2,5 years.

On the cash needed: throughout the discussions about this release, we've always been very open that funding is needed for a sustainable system. Instead of an ICO, which has considerable drawbacks as a method, this is considered to be a method of raising such funds by actually raising the price of the token, which benefits everyone who holds Nxt, not just the people developing it.

You logic is flawed. Price would have pumped much harder if this was announced just prior to Ardor launch. As they did it now the increase in price will be much smoother and many more people will be able to enter or exit depending on what their preference is.

July, thats next month. Why so soon? If the project doesn't launch for a year then shouldn't you guys be doing a snapshot a few weeks before launch? That way it gives everyone a chance to stock up on some Next? Doing it that quickly will just pump the price of next. My guess is the insiders need some cash and what better way then to pump the price of their pre-mined tokens.. scam.

Snapshotting starts in July, so the announcement needs to be done early.

this is just a money-grab, ardor doesn't go online for more than 365 days, why do you need to do this now? This should be done in the few months in advance instead.

Just in case other replies haven't addressed this for you, and to sum things up for late arrivals (please correct me if something is not accurate)

1) Starting july 14, hourly snapshots of NXT balance will be taken for all Nxt network accounts. This will last for three months. At Nxt network block 1,000,000 (due for October 12th) every Nxt account will receive an amount of Ardor assets equal to the average of all the snapshots taken. Your account still keeps the NXT you are holding at that block, as usual. And from that moment, Ardor assets become tradable in the Nxt asset exchange.

2) When Ardor network goes online next year, the ARDR tokens for the main chain will be distributed according to the number of Ardor assets held in each Nxt account at the moment of launch. This main chain and the ARDR tokens are the backbone securing the whole network including all child chains transactions.

3) At the same time of launch, tokens for the first Ardor child chain (the transactional token, name to be determined but so far referred to as "FNX" in discussions) will also be distributed to each account. The ratio will be 0.5 "FNX" for each NXT in the Nxt account balance at the time of Ardor launch. The other half of these first child chain tokens are held for platform development and funding.

4) The Nxt (1.0) network goes on as it is. So the amount of NXT held in every Nxt account are still there with the Nxt 1.0 features after Ardor (Nxt 2.0) has launched.

In short,

1 NXT >>> 1 ARDR + 0.5 "FNX" + 1 NXT
 

Thanks for the official announcement 

Hopefully people will soon see that crypto is much more than just currency!